By : Meghna Yelluru
The city’s first Alternate Dispute Resolution(ADR) Centre was inaugurated by Indian Merchants’ Chamber on Tuesday.
The ‘IMC Suresh Kotak International ADR Centre’, situated inside the IMC building at Churchgate is set up to render services of Arbitration, Conciliation and Mediation to parties involved in commercial disputes.An advisory Committee has been formed under the Chairmanship of Sujatha Manohar, former judge of the Supreme Court, to give advice and guide the centre.
The centre expects to handle around 40 cases a month and was built to arbitrate within a fixed cost and a time bound schedule of proceedings.
Chief Justice Mohit Shah said at the inaugural function that, over the last four years, six lakh cases of dishonoured cheques were reduced to 88,000 cases. He also said the problem with the arbitration process in courts was they were too technical and failed to consider the existing realities of the business and family environment. “We expect the centre to enjoy flexibility that the courts do not and we would consider recognising the centre as an institution designated by the Chief Justice for arbitration matters,” said Chief Justice Shah. ADR sercives are also provided by similar centres in Singapore, Paris and London.