Needs to develop a good institutional arbitration system to get investment says CJI

Vastavam web: If India wants to attract investments, it needs to develop a good institutional arbitration system with minimum interference of courts and maximum execution of arbitration awards, the Chief Justice of India, Dipak Misra, today said.Justice Misra stressed that the country needs to adjust without surrendering “our conceptual sovereignty”. The shift has to be towards institutional arbitration while also keeping in mind the interests of the country.He added that “apart from the legal issue, it is an issue of getting the investment” and that “India has to inculcate faith in the global investors that it has a very good institutional arbitrator system”.

“It is not the human nature alone but the commercial perceptions, the clauses in the contract and swings in the business sometimes attract arbitrations,” he said, adding that alternative dispute resolution system has gained priority and arbitration is one of them.Regarding international disputes, he said that they are required to be solved through international dispute resolution mechanism.