Legal Correspondent: Bidisha Barman
August 28, 2021: A group of lawyers pleaded before Justice D.Y. Chandrachud and Justice M.R. Shah that the practise of certain retired judges of drawing arbitration proceedings and overcharging parties with unreasonable fees has led to the streaming of lakhs of rupees for each sitting. The bench seemed to be well aware about the malpractices involved in the efficient alternative dispute resolution which is done by certain dishonest retired judges while acting as arbitrators. There are instances where parties expressed their frustration due to the repeated adjournment of proceedings before a retired High Court judge who is presiding over as an arbitrator. This results in the increasing amount of fees for each sitting leaving the parties with heavy bills.
Arbitration is considered as the most preferred alternative dispute mechanism. The fluctuating cost of arbitration has forced the Supreme Court to emphasize on engaging young and competent lawyers as arbitrators instead of retired High Court and Supreme Court Judges.
Justice D.Y. Chandrachud stated that the High Court of Bombay has come up with an innovative way in order to promote speedy completion of arbitration proceedings by engaging young and competent lawyers as arbitrators. The Supreme Court stated, these young lawyers conduct arbitration proceedings smoothly and often charge reasonable fees from the parties.
Since the past decades, the Supreme Court of India has encouraged arbitration and had taken major steps towards making India an International Arbitration hub.
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