Arbitration and domestic or inhouse tribunals are alternatives to formal courts. However, experience has shown that Arbitration and inhouse tribunals often end up as added cycles to litigation in court, thereby lengthening the process of dispute resolution. While we encourage ADR mechanisms, we must also create a culture for settlement of disputes through those mechanisms. Unless the members of the Bar encourage their clients to settle their disputes through negotiations, such mechanisms cannot succeed. The Legal Services Authorities Act contains provisions which entitle a party or the Court to refer any matter to the LokAdalat for settlement through negotiation. Our Lok Adalats have the unique feature of their awards automatically becoming decrees of courts and being binding on the parties. The newly enacted Arbitration and Conciliation Act, 1996, also makes substantial changes which are expected to encourage parties to have their disputes settled and resolved through such modes. The various ADR methods experimented with and accepted as viable systems in different countries and in different situations are dealt with in this book which compiles articles from several persons experienced in the working of those modes. The essays are both informative and analytic and everyone in need of information and guidance in this growing field of interest will find the book very valuable.
Manual on SEBI Regulations
Author : LexisNexis