Independent Council for Conciliation under KCCI Needed: SC Judge
An independent council for conciliation should be formed under the aegis of the Kerala Chamber of Commerce and Industry (KCCI) as part of the alternative disputes resolution methodology, Supreme Court judge Justice Kurian Joseph said on Saturday.
He was inaugurating a seminar on arbitration, conciliation and mediation by the Arbitration, Conciliation and Mediation Council (ACMC) under the KCCI here.
He said institutions with integrity and credibility should come forward to set up councils for speeding up delivery of justice.
“Arbitration after mediation is the best way to resolve disputes. The speed of growth, development and transactions in the commercial and industrial sectors demand fast and speedy resolution of disputes. The business people are fed up with the decades-long litigation process,” he said.
He released the ACMC rule book by handing over a copy to ACMC chairman K N Marzook.
“Institutionalised arbitration can play a pivotal role in resolving disputes fast at an incredibly lower cost. It will be of great advantage to the people and the society at large,” he said.
High Court Justice A M Shafique, Senior Advocate K L Varghese, KCCI chairman E P George, Commissioner of Customs and Central Excise C J Mathew, Institute of Chartered Accountants of India’s Ernakulam branch chairman Mathew Joseph, Federal Bank AGM and regional head V Nandakumar and Advocate K Latha also spoke at the event.