Alternate Dispute Resolution
Mounting arrears of cases has raised alarm bells and made the litigating public to seriously think about speedy, effective and less expensive means of justice dispensation system. Globalisation, internationalization and dependence of each other, especially of the commercial institutions and individuals, have given birth to what is called Alternate Dispute Resolution Forums. In the modern set up, the most widely recognized ADR on the international scene has been and will probably continue to be arbitration.
Arbitration is a legal mechanism for the resolution of disputes outside the courts, where the parties to a dispute refer it to one or more persons (called the "arbitrator"), by whose decision (the "award") they agree to be bound.
The history of arbitration dates back to the emergence of a civilized society where the rule of law prevailed. Its origin can be traced to the institution of family, where the head of the family used to settle disputes amongst its members amicably. With the passage of time, the principle of amicable settlement of disputes was extended to larger sections of society like the tribes, different communities, villages, towns, cities so on and so forth. Jurists, all over the world have acknowledged its presence in one form or the other.
PRASAD & SINHA’S team possess well-known expertise in handling complicated arbitrations, technical as well as specialised aspects and are constantly aiming at optimum results, operating on the statutory time frame. The firm is engaged in major arbitrations at domestic level. Wherever possible we advise our clients to avoid litigation and suggest alternative approaches to settle disputes. However, in case of frivolous litigation we strongly recommend and advise our clients to exercise their legal options, as it will be in their best interest.