New Delhi: Supreme Court judge Justice BV Nagarathna has emphasized the importance of arbitration and mediation in a modern justice system, stating they are not mere alternatives to traditional litigation but integral components.
Speaking at the International Conference on 'Arbitration in the Era of Globalisation', Justice Nagarathna highlighted the growing significance of alternative dispute resolution mechanisms in a complex and globalized economy.
She noted that arbitration has emerged as the preferred method for resolving cross-border commercial disputes due to its advantages, including neutral forums, procedural flexibility, confidentiality, and party autonomy.
The top court judge also referred to the New York Convention, which allows arbitral awards to be recognized and enforced across over 170 jurisdictions, strengthening the effectiveness of international arbitration.
Justice Nagarathna emphasized the importance of developing sector-specific arbitration expertise in India to strengthen its position as a credible arbitration jurisdiction.
On mediation, she said it reflects a different philosophy of dispute resolution, facilitating dialogue between parties and helping them arrive at mutually acceptable outcomes.
The judge highlighted the importance of pre-litigation mediation under Section 12A of the Commercial Courts Act, 2015, and called for better coordination between mediation centers, legal services authorities, and training institutions to ensure its implementation.
