Excellent. For Every thing Judiciary has to step in!
I want full text of the judgment or citation or name of the parties and date of judgment. Pl help
Can they do something with these designated Senior Counsels who charge a great deal of money. When a Lawyer can charge why cant a retired judge do that..... some one listening in SC..Do you understand how costly it has become to get justice...
Arbitration as per Order dated 09.04.1987 has since been completed by Arbitral Tribunal in its AWARD dated 22.07.2010 in favour of Plaintiff - Mercury Rubber Mills
against Defendant - The Oriental Insurance Co Ltd, but the same has not been executed / implemented by the PSU- Insurer - Defendant, so far, though the AWARD suffers from some unexplained short-Awarded claims of this hapless Insured- SSI unit, having been deprived of
its legitimate claims under the Insurance Contract since 1981 (30th year running);
Costs of Arbitration already suffered and the fear of further costs if a fresh Arbitration is ordered for the agitated short allowed claims is discouraging this SSI unit to seek such legitimate claims !
What is the procedure to get the AWARD corrected and executed ?
now it is for sure these two judges of the SC will be impaneled from unofficial list of hopefuls maintained by the IAS.COM of becoming presiding officers of the eternal court of inquiries post retirement .What a tragedy .
The very preamble of Arbitration "Speedy and Economical Justice" is defeated by high fees and delay in arbitration proceeding. The fact is it has become one of the costiliest and time taking judicial remedy. Any intervention by Apex Court in putting this judicial remedy on right track is welcome!
This brings to mind the famous words of Hon'ble Vivian Bose J.that honest men dread arbitration more than the dreaded law suits.
Can't ICA provide any standard guidelenes for saving the suffering victim from such fleecing by Arbitral Tribunal whereas the presiding Arbitrator can easily act as Sole Arbitrator, once the two Arbitrators agree on ONE presiding Arbitrator; Where is the necessity to continue attendance of the earlier Arbitrators after both have agreed for another to preside who could thereafter, act as SOLE, enjoying his acceptance to both sides; Such would save atleast 2/3rd of the fleecing costs to the disputing parties !
fee not fixed in arbetration cases makes the desition more arbetry and partial as if the fee demanded is not relised it has full effect on the outcome of the award therefore i go with the decition of the supreme court that the fee should be fixed of the arbitrator appointed and the fee should be deposited in the court itself
You need to be logged in to post comment
Our Network Sites
Join LAWyersclubindia.com and Share your Knowledge. Registered members get a chance to interact at Forum, Ask Query, Comment etc.