arbitration as dispute resolution

In India this a new and still rising trend, many a times parties are not aware of it and some times even lawyers. Furthermore the decision (Award) given by the Arbitrator does not have a binding  effect as a decree of the Court. But this is ceratinly one of the Best Practice which can be utilised to provide remedies to the parties and also lower the piling burdens on the Courts.  

manasi is right. however, egoistic and harrasing attitude of indian society is also a factor for not going to arbitration.

Without the binding force an arbitral award is childish play involving very huge resources. Please make clear yourself from Bare Act and pointblank provisions in there