Stressing on efficient arbitration process, Chief Justice of India P Sathasivam today said there is a dire need of culture of professionalism while dealing with arbitration.
"The increasing complexity of arbitration cases makes the role of arbitrators more important. I believe arbitrators must be activists to render arbitration process more effectively.
"We, in judiciary, encounter badly drafted arbitration petitions thus there is a dire need of culture of professionalism while dealing with arbitration," the CJI said.
The Chief Justice was speaking at the release of the third edition of the commentary of O P Malhotra on Arbitration and Conciliation at Teen Murti Auditorium here. The edition has been updated by Malhotra's daughter Indu Malhotra.
"The scope of arbitration is vast and it is tool of great importance to settle disputes in amicable way. There is need of arbitral institutions which have efficient and systematic procedures and well trained bar which can understand the legal aspects of the technical subject," he said.
Commending the exhaustive manner in which the book has been crafted, the CJI said he was happy to be invited at the book release.
"The book is crafted in an exhaustive manner that it is bound to attract every reader. The author deserves appreciation for this work. What comes to her writing is her deep commitment to law," he said.
Former Chief Justice of India M N Venkatachaliah, Supreme Court Judge R M Lodha, senior advocates Fali S Nariman and Zia Mody also spoke on the occasion and participated in the discussion on Investment Treaty Arbitration.
The book is published by Thomson Reuters.
