Chief Justice of India K.G. Balakrishnan on Wednesday said the need for an alternative dispute mechanism would be greater in future in view of the investment of foreign capital in the Indian market.
Inaugurating an Arbitration Centre set up by the Delhi High Court inside the Court complex for providing easy, quick and cost-effective justice to the litigants, Justice Balakrishnan said the mechanism of arbitration would be particularly required more in the infrastructure sector where delay in implementation of the projects caused monetary losses.
Stating that it was very difficult to get money from the Government, the Chief Justice complimented Delhi Chief Minister Sheila Dikshit for providing timely financial support for the Arbitration Centre.
Addressing the gathering, Union Law Minister Veerappa Moily expressed his gratitude to the bar and the bench for their support to his efforts to bring in reforms in the judiciary. He said that the Arbitration Centre would prove a model for the other High Courts in the country to replicate.
Chief Minister Sheila Dikshit said the arbitral mechanism should also be adopted for resolution of disputes between different government departments and States.
The Delhi High Court Chief Justice, Justice A.P. Shah said the centre had been set up to provide speedy and cost-effective justice to the litigants. A time period had been fixed for disposal of cases by the centre, he added.
In his concluding remarks, Delhi High Court Bar Association president A. S. Chandhiok dispelled the misgivings of some lawyers about the utility and necessity of the centre in view of the efficiency of the High Court in disposal of cases.
He said that the centre would further add to the efforts made to provide justice without delay to the litigants.
Earlier, Justice Balakrishnan formally inaugurated the centre by unveiling a plaque.
