Arbitration final Paper

Arbitration Final Paper

Name: Nikhil Mathur I.D: 20100102

Index

1) Introduction p. 3
2) Party Autonomy v. Procedural Safeguards p. 4
3) Why can’t the courts be trusted? p.5
a) The issue of Public Policy
b) The powers of the Chief Justice
c) The Bhatia case
d) Conclusion
4) Taking the Litigation out of Arbitration p.7

Introduction
Abraham Lincoln essentially summed up the philosophy of the Arbitration and Alternate Dispute Resolution systems when he recommended people to "discourage litigation and persuade your neighbours to compromise whenever you can”. “Point out to them how the normal winner is often a loser in fees, expenses, cost and time."
India has now established itself as an important component in the globalization machinery with the introduction of various trade and investment policies and the regulatory environment globally in the past decade, including trade policy and tariff liberalization, easing of restrictions on foreign investment and acquisition in many nations, and the deregulation and privatization of many industries.1.
The swift expansion of the economic liberalization of the world coupled with India’s ascendency on the global economic scene has essentially brought the Arbitration and the Alternate