Jagdeep Dhankhar today underlined the need for reforming in the Indian Arbitration system. Echoing the Chief Justice Shri Chandrachud’s concerns who had described the current state of arbitration in the country as an "Old Boys’ Club" due to excessive control over it by former judges, the Vice-President emphasized that while individuals may struggle to bring about systemic change, institutions are spinally strong to address such challenges.
He stressed the pivotal role of institutions in fostering meaningful reform and noted that they embody the collective wisdom of their respective domains.
Addressing the gathering after the inauguration of the SILF building today, Shri Dhankhar described Indian arbitration process as ‘arduous’ one. Expressing his disapproval of using arbitration as “an additional tier in the conventional litigation ladder,” VP highlighted that the process has become very complex. “Award (by arbitration court), objection to award, appeals, and then invocation of Article 136 of the constitution… followed by review and Curative petitions,” has become the norm, he said while stressing the need for streamlining to enhance efficiency.
Shri Dhankhar called on industry, legal fraternity and all other stakeholders in arbitration dispute resolution to work in unison to ensure the same is in the country and as per our legal regime. “India has everything that needs to for emergence of global arbitration hub”, he added.
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