With disputes affecting parties, including businesses, across the global community, alternate dispute resolution (ADR) has emerged as the powerful tool to address these challenges, Stated Justice Hima Kohli, Judge, Supreme Court of India.
She was speaking as the Chief Guest at the Conference on Ease To Justice Through Arbitration and Mediation in Commercial Disputes organised by the Indian Council of Arbitration (ICA) at Vagator.
Also present were Justice Mahesh Sharadchandra Sonak, Judge, High Court of Bombay at Goa, Arun Chawla, Director General, ICA, J.E. Coelho Pereira, Senior Advocate, President, Bar Association of Bombay High Court at Goa and Ex-Adv. General (Goa), and N G Khaitan, President, ICA & Senior Partner, Khaitan & Co.
Justice Kohli said that ADR is known for its flexibility, adaptability and efficiency, making it valuable to navigate the complexities of global business.
“In today’s world, thanks to globalisation, everything is moving at a fast pace. This has led to increased commercial transactions with businesses spanning across cultural and geographical boundaries. This has thrown up a variety of legal challenges. International trade and investments have grown phenomenally, making dispute resolutions more complex. Disputes can affect not only the parties involved but the entire global community. To address these challenges, ADR has emerged as a powerful tool for businesses,” she stated.
In his opening remarks, Chawla said that the demand for efficient and swift resolution of disputes has never been more critical.
“India’s economy has become increasingly interconnected with the rest of the world and exhibits dynamic growth. The demand for efficient and swift resolution of dispute has never been more critical. In the past, the Government of India has emphasised at various forums on the access and ease of justice. It is often said that inordinate delay and cost of the legal process and inaccessibility are impeding the effective delivery of justice,” he said.
“These issues especially aggravate economic transactions and impede investments and growth of the economy. Hence, to ensure timely, cost-effective and accessible solutions, it is pertinent to have credible and alternate means of dispute resolution like arbitration and mediation, and appropriate institutions,” he further added.