LUDHIANA, INDIA - "Arbitration is a cost effective and quick process in solving disputes compared to litigation which is a conventional method of resolving disputes," said Mr. Khalid Al-Khalidi, Abu-Ghazaleh Intellectual Property Office (AGIP) Manager, who attended a conference on Dispute Prevention and Resolution on October 8, 2005 at Hotel Maharaja, Ludhiana.
"Several themes were discussed in the conference covering: new legal directions for arbitration and conciliation law in India, institutional arbitration in government contracts, public policy/enforcement of arbitral award and negotiating and drafting of arbitration agreements," he added.
Meanwhile, Hon’ble Justice Ashok Bhan, Judge, Supreme Court of India, said that arbitration has evolved as the best Alternative Dispute Resolution (ADR) method throughout the world.
"The pre-requisite of a good and successful arbitral process in any country is a good arbitration law, arbitrators and the arbitration culture. India should utilize such process to the best to resolve our disputes," he added.
Celebrating its 40th anniversary, the Indian Council of Arbitration (ICA) organized the conference jointly with the Federation of Indian Chambers of Commerce and Industry (FICCI).
The conference, which was attended by representatives of leading business organizations, internationally reputed law firms, academicians and arbitrators, was addressed by senior officials of the Indian government, distinguished legal, fiscal and arbitration experts, judges and senior advocates.