Union Law and Justice Minister DV Sadananda Gowda on Friday emphasised on the need for a judicial system that ensures speedy disposal of commercial disputes, including through arbitration, to accelerate the economic growth and development.
Speaking at a seminar on ‘Law and Good Governance’ organised by the Law Department of the Panjab University, the minister said: “In order to accelerate the economic growth and development, we need to have a judicial system which ensures speedy disposal of commercial disputes, including arbitration in commercial cases.”
The central government was committed to making arbitration a preferred mode for settlement of commercial disputes by ensuring it became user-friendly, cost effective and expeditious mechanism for disposal of cases.
The Law Commission of India, in its 246th Report, recommended several amendments in the Arbitration and Conciliation Act, 1996, which the Centre has taken into consideration while proposing to emendation of the act, the minister said.
“The proposed amendments in the Act would facilitate in achieving the desired goals,” he said.
“The country is committed to improve its legal framework to obviate disposal of cases and proposed amendments are a step in this direction.”
The Law Commission of India, in its 253rd Report on ‘Commercial Division and Commercial Appellate Division of High Courts and Commercial Courts Bill, 2015’, recommended commercial courts at various places and commercial divisions and commercial appellate divisions in the high courts in order to ensure speedy disposal of high value commercial lawsuits.
“Our government is currently considering speedy implementation of the recommendations of the Law Commission within our constitutional scheme and framework,” he added.
He said the country also needed to repeal outdated laws that are past their utility.
“This is an exercise that the central government is committed to do,
he said. “Recently, Lok Sabha passed Repeal and Amending Bill, 2014. Soon a comprehensive bill to repeal more than 700 Acts including Appropriate Acts will be introduced in Parliament.”
“Our government has taken initiative for amending the Constitution for evolving a more transparent mechanism for appointment of judges in the Supreme Court and High Courts. A National Judicial Appointment Commission will be in place in due course”, he said.