The Office Memorandum fails to consider that litigation is neither easy nor an efficient process in India. On the contrary, the Commercial Courts Act, 2015, does not entail any such mandatory timelines for commercial suits. These averages assume that a trial proceeds unhindered by multiple appeals against procedural orders which are otherwise not permitted under the Arbitration Act. Cost and Expenses: Under the Arbitration Act, both parties typically bear the costs in equal proportion. While the push towards a pro-settlement approach is much appreciated, the Office Memorandum appears guided by a mistrust of the arbitral process.

Source: Economic Times July 04, 2024 15:10 UTC