Both parties lose, at least in time, at the time of the final decision of the dispute. At this point, the parties realize that they would have been better off if they had taken the path of conciliation. It was not only the fees of the lawyers, but also the arbitrators, who began to pinch the parties. Although the number is currently small, in some cases the issue has been seriously addressed outside of arbitration in order to avoid unnecessary costs. Summary and concluding remarks In any democratic society for the protection and strengthening of the rights of the people, it is the judiciary that plays an important role alongside the legislative and executive branches, and India is no exception. However, for any progressive society, the dispute should be resolved as much as possible at minimal cost, both in terms of money and time, and justice should be fast, easy, cheap and substantial. After the tribunal was not satisfied with the formal and adversarial justice system, an alternative dispute resolution mechanism was developed that involves people in the process of resolving their dispute. Arbitration is out-of-court, which means resolving disputes in a friendly manner. In a developing country like India, where the Court`s backlog continues to grow, arbitration can play an important role in reducing the burden on the courts. Yet even two decades after the adoption of the Arbitration and Conciliation Act 1996, the law has not served the purpose that its legislators had intended. In addition to reducing the burden on the courts and the prompt justice of the population, an alternative dispute settlement mechanism has been put in place for a number of other reasons.

Alternative dispute resolution mechanisms are relatively inexpensive compared to the normal legal process. These mechanisms therefore assist litigants who are unable to bear the costs associated with the ordinary procedure for the settlement of disputes by the courts. In addition, ADR mechanisms strengthen the Community`s participation in the dispute settlement procedure. Conciliation offers a more flexible alternative to arbitration, litigation and dispute resolution in a wide variety of contractual relationships, as it is an entirely voluntary process. Our justice system is neither inefficient nor solely responsible for the huge backlog of pending cases. We must not forget the growing influx of cases before all the courts of the country. Litigation is not the only way to resolve disputes. We need to rethink and strengthen our own available alternative mechanism with a positive framework. Conciliation is undoubtedly a better option than conciliation, because the experience of recent years has shown that conciliation is neither profitable nor rapid. In cases where the court has been given the power to review the outcome, the benefit does not appear to be real, as the time is spent first in the arbitral tribunals and then in the court.

Arbitration is a more user-friendly way to resolve disputes without also affecting personal relationships. Therefore, the benefits of arbitration are categorically more than arbitration, which reinforces my view that it is for the best. The arbitration process in India foresees the following phases during the process – The researcher has covered famous arbitration cases in India in this blog. In addition, the majority are disputes that revolve around arbitration agents. For the sake of clarity, the researcher divided each case into four parts: A Critical Study of Arbitration Principles and Procedures under the Arbitration and Conciliation Act 1996. 1) Speed. The parties can devote their time and energy to better and useful work. 2) Economic. Instead of spending hard-earned money on litigation, you can invest it for better dividends.

3) Social. The parties willingly go home and are relieved by the bickering, the enmity that, in some cases, may have lasted for generations. Litigants increasingly feel that they would have been better off if there had been no arbitration clause so that they could bring civil actions with only three stages, namely, (a) filing pleadings; (b) the implementation of the procedure; and (c) judgement. Unlike three stages of civil procedure, there are up to six in an arbitration case, namely facts: the conciliation procedure between the Union and Reliance Industries Limited has failed. The arbitration agent then wrote a breakdown report. However, the report was not submitted to the third accused, the State of Gujarat. The dispute was pending. The legal authority also did not act in accordance with the law. Under section 33A of the Labour Disputes Act, the authorities refused to file the complaint. The Labour Court should be informed of this.

In accordance with article 226 of the Constitution, the defendants filed a motion for action. Recourse to arbitration, either directly or through a trusted person or joint institution, is the only way to achieve early success. Conciliation is a better alternative to the formal judicial system. For the choice of the type of arbitration, it is not necessary to conclude a formal agreement.