Committed to make India hub of effective arbitration: Prasad
Favouring alternate dispute resolution (ADR) for quicker resolution of cases as there was great pressure on the judiciary, union Law Minister Ravi Shankar Prasad Tuesday said the government was also committed to make India a hub of good and effective arbitration.
Prasad emphasised on ADR for quicker settlement of disputes after Law Commission chairman Justice A.P.Shah submitted the report on the proposed amendments to the Arbitration and Conciliation Act, 1996.
Speaking to newsmen after receiving the report, he said that the government would give serious consideration to the proposed amendments as it was committed to make India a hub of good and effective arbitration.
Saying that government would be holding wider consultations with all the stake holders, Prasad said: "These are the issues engaging the attention of the government."
Noting that arbitration should be "more friendly, more quicker and more expeditious", he underlined the need for the integrity and transparency in the whole process.
(Posted on 06-08-2014)