Online Dispute Resolution mechanism launched
By TIOL News Service
NEW DELHI, APRIL 22, 2018: THE Vice President of India, Mr M. Venkaiah Naiud, has said that Online Dispute Resolution Mechanism is a laudable initiative to fast-track dispute resolution and it shall go a long way in resolving disputes, attracting more foreign investment by projecting India as an investor-friendly country and strengthen economy.
He was addressing the National Conference on ‘Online Dispute Resolution Mechanism’, organized by the Construction Industry Arbitration Council (CIAC), yesterday. The retired Secretary, Ministry of Law & Justice, Mr P.K. Malhotra and other dignitaries were present on the occasion.
The Vice President complimented the Ministry of Law & Justice for taking the initiative in evolving this system and said this will help courts to concentrate on access to justice to people in better manner. He further said that the rapid development of the Internet and electronic commerce, Online Disputes Resolution has been labeled “a logical and natural step” as it facilitates expeditious resolution of disputes.
The Vice President said that the CIAC has been closely associated with UN Commission on international trade and law. He further said that domestic and international trade and commerce has spurred competition provide more opportunities and imputed risks. The commercial arbitration in India is witnessing a steady transition and it should become more simpler, he added.
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