Arbitration Institutions need panels of arbitrators with varied expertise: Lalit Bhasin President, BAI and SILF and Chairman CIA (UK)

26 November, 2017

Description

President, BAI and SILF and Chairman CIA (UK), Lalit Bhasin speaks of how Arbitration Institutions need broad-based panels of arbitrators with various expertise to solve complex problems. He also called for a mindset change on the part of the government to enable Alternate Dispute Resolution to succeed in India.

Disputes will be resolved through Institutionalised arbitration, although Ad Hoc resolution will continue, said former Supreme Court Judge, Dr. M.K. Sharma.  He highlighted provisions in the amended Arbitration and Reconciliation Act of 2015 to expedite arbitration proceedings. The government, he said, must act fast on further implementing recommended changes to the Act made by a committee for the same.

Chairman, ASSOCHAM Council on Legal Affairs and Regulatory reforms, Suman Jyoti Khaitan underscored the challenge of speedy justice while keeping a check on every power. This he said was crucial to ensuring that arbitrations are resolved in a just manner. He also said it is important to ensure that there are no grounds for delay particularly in terms of cross-examination. 
The training session also saw the release of a knowledge Paper titled “Report on International and Domestic Arbitration and Mediation Procedures after The Arbitration and Conciliation (Amendment) Act, 2015