'Indian judiciary can be trusted for its independence, equal treatment': CJI Ramana

Chief Justice of India NV Ramana stated that the Indian judiciary is recognised for giving paramount importance to rule of law and can be trusted for its absolute independence. It gives inherent constitutional strength to treat all parties equally and equitably, he added, while addressing the annual meeting of the Indo-German Chamber of Commerce on Tuesday. He added that High Courts and the Supreme Court have the power to judicially review every act of the Government.

"You can trust the Indian judiciary for its absolute independence and its inherent constitutional strength to treat all parties equally and equitably. The Constitutional Courts of India - the High Courts and the Supreme Court - have the power to judicially review every act of the Government. They can strike down any law that is not in tune with the Constitutional principles. They can also set aside the arbitrary measures of the executive," the CJI said.

CJI Ramana recommends Institutional Arbitration Centres

CJI further suggested that the Institutional Arbitration Centres functioning across the world must collaborate and form a united council or confederation in order to create a level-playing arbitration arena globally. "Arbitration in a Globalized World - The Indian Experience", he said.

He added that based on shared, diverse experiences, a united front would help in adopting the best policies. The CJI said that over time, Indian Courts have allowed broader scope for arbitrability of disputes. This attitude of Indian Courts has further increased the importance of International Arbitration, specifically when it comes to countries like India and Germany, he said.

Agreements related to Technology transfer, licensing rights, royalty rights and other intellectual property rights (IPR) are often subjects of arbitration agreements between corporates, he added. He also explained the significant advantage of adopting international arbitration.

"To give impetus to arbitration as well as innovation, Indian Courts have allowed such disputes to be arbitrable. In order to fast-track disposal of commercial disputes, the Indian Parliament has also enacted the Commercial Courts Act, which provides for the establishment of dedicated benches for commercial matters," CJI said, according to ANI.

CJI informed that in order to keep up with the changing global and economic scenario, the Arbitration and Conciliation Act of 1996 was amended in 2015, 2019 and 2021. 

"International arbitration is a means of resolving disputes arising between parties involving a foreign element. It is an effective alternative to traditional litigation and is regulated primarily by the terms previously agreed upon by the parties themselves. International arbitration has several known advantages," CJI said.

(Image: PTI/ANI)

(With ANI Inputs)