New Delhi: Supreme Court judge Justice Hima Kohli has said that the Indian judiciary exercises discretion and restraint in interfering in arbitral awards and that judicial intervention on the grounds of patent illegality or public policy should be an extraordinary measure.
He said the Supreme Court of India has helped strengthen the country's reputation as a favorable venue for dispute resolution by limiting judicial interference and respecting arbitral awards.
Justice Kohli said, "This judicial philosophy complements the legislative reforms and symbolizes India's ambition to become a global hub for arbitration."
She was addressing the event “Arbitration in India and the MENA Region: A Roadmap to 2030” organized by the International Center for Mediation and Arbitration, Hyderabad in collaboration with King & Spalding LLP during the London International Dispute Week 2024.
Justice Kohli said it is important to recognize that the essence of justice lies not only in respecting and enforcing arbitral awards, but also in protecting fairness and equity for stakeholders."It must be emphasized that judicial intervention on the grounds of patent invalidity or public policy must be an extraordinary measure which must be applied sparingly and with utmost caution. The Indian judiciary, guided by the principles of minimum intervention, will exercise discretion in intervening And exercise restraint in arbitral awards,” she said.
Justice Kohli said that as the arbitration landscape is evolving and new challenges are emerging, the Indian judiciary has also adapted and responded to the changing needs of the times and refined the framework of judicial intervention.
He said, "As we look to 2030, India's path forward in arbitration requires a strong focus on institutional arbitration. To fully realize its potential, India needs to strengthen its arbitration institutions. Must continue to enhance operational effectiveness and global reputation.,
Justice Kohli said this involves not only improving the infrastructure but also ensuring that these institutions can boast of experienced and honest arbitrators backed by efficient administrative structures and constantly updated rules.
He said that by doing so, India can attract more international arbitration cases, which will increase investor confidence and contribute to the country's economic growth.
Justice Kohli said that in the Middle East and North Africa (MENA) region, the way forward includes harmonizing arbitration practices across different jurisdictions to create a more predictable and investor-friendly environment.
He said that regional cooperation and dialogue is necessary to achieve this harmony.
Justice Kohli said both India and the MENA region should embrace technological advancements to increase the efficiency and reach of arbitration.He said that the Covid experience has resulted in a paradigm shift towards online dispute resolution mechanisms in the field of mediation and arbitration.
Justice Kohli said, "Digitization has improved the efficiency of the arbitration process and helped prevent loss or damage of important records. The availability of digital records also makes the implementation of arbitral awards more efficient and makes it easier for courts to access evidence. "Reduces the burden of challenges."
He said that Indian courts are rapidly adjusting to modern times by giving lawyers and litigants the option of virtual hearings.
He said, “In the context of arbitration, this commitment ensures that it remains a trusted and preferred method to resolve commercial disputes in the digital age.He said this digital transformation will make arbitration more accessible to parties from different geographical locations.
Justice Kohli said that by strengthening institutional frameworks, harmonizing regional practices and adopting technological advances, India and MENA should ensure that they are well equipped to handle the complexities of modern commercial disputes.
“By upholding the principles of fairness, efficiency and minimal judicial interference, India and the MENA region can build a strong arbitration ecosystem that meets global standards,” he said. The cornerstone of dispute resolution”.
He said the Supreme Court of India has helped strengthen the country's reputation as a favorable venue for dispute resolution by limiting judicial interference and respecting arbitral awards.
Justice Kohli said, "This judicial philosophy complements the legislative reforms and symbolizes India's ambition to become a global hub for arbitration."
She was addressing the event “Arbitration in India and the MENA Region: A Roadmap to 2030” organized by the International Center for Mediation and Arbitration, Hyderabad in collaboration with King & Spalding LLP during the London International Dispute Week 2024.
Justice Kohli said it is important to recognize that the essence of justice lies not only in respecting and enforcing arbitral awards, but also in protecting fairness and equity for stakeholders."It must be emphasized that judicial intervention on the grounds of patent invalidity or public policy must be an extraordinary measure which must be applied sparingly and with utmost caution. The Indian judiciary, guided by the principles of minimum intervention, will exercise discretion in intervening And exercise restraint in arbitral awards,” she said.
Justice Kohli said that as the arbitration landscape is evolving and new challenges are emerging, the Indian judiciary has also adapted and responded to the changing needs of the times and refined the framework of judicial intervention.
He said, "As we look to 2030, India's path forward in arbitration requires a strong focus on institutional arbitration. To fully realize its potential, India needs to strengthen its arbitration institutions. Must continue to enhance operational effectiveness and global reputation.,
Justice Kohli said this involves not only improving the infrastructure but also ensuring that these institutions can boast of experienced and honest arbitrators backed by efficient administrative structures and constantly updated rules.
He said that by doing so, India can attract more international arbitration cases, which will increase investor confidence and contribute to the country's economic growth.
Justice Kohli said that in the Middle East and North Africa (MENA) region, the way forward includes harmonizing arbitration practices across different jurisdictions to create a more predictable and investor-friendly environment.
He said that regional cooperation and dialogue is necessary to achieve this harmony.
Justice Kohli said both India and the MENA region should embrace technological advancements to increase the efficiency and reach of arbitration.He said that the Covid experience has resulted in a paradigm shift towards online dispute resolution mechanisms in the field of mediation and arbitration.
Justice Kohli said, "Digitization has improved the efficiency of the arbitration process and helped prevent loss or damage of important records. The availability of digital records also makes the implementation of arbitral awards more efficient and makes it easier for courts to access evidence. "Reduces the burden of challenges."
He said that Indian courts are rapidly adjusting to modern times by giving lawyers and litigants the option of virtual hearings.
He said, “In the context of arbitration, this commitment ensures that it remains a trusted and preferred method to resolve commercial disputes in the digital age.He said this digital transformation will make arbitration more accessible to parties from different geographical locations.
Justice Kohli said that by strengthening institutional frameworks, harmonizing regional practices and adopting technological advances, India and MENA should ensure that they are well equipped to handle the complexities of modern commercial disputes.
“By upholding the principles of fairness, efficiency and minimal judicial interference, India and the MENA region can build a strong arbitration ecosystem that meets global standards,” he said. The cornerstone of dispute resolution”.
