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Mediation has shown itself to be a powerful tool for bringing a speedy and effective end to cross-border disputes while preserving the commercial relationship between them
India has been on an unabated growth trajectory - supported by a Gross Domestic Product (GDP) of nearly US$11.5 trillion (S$15.9 trillion). India is also the world’s third largest economy after China and the United States, according to 2019 International Monetary Fund estimates. Rising affluence and growing urbanisation in India has attracted investors who are keen to tap on India’s elite and affluent households - two of the fastest-growing income segments in the country, expected to double to 16 percent of the population by 2025. The rapid growth of India has not stopped despite the COVID-19 pandemic. Indeed, the authors continue to observe increasing number of investments in tech-related start-ups in India by foreign venture capital funds and inst
Mediation Convention expected to make resolution of corporate disputes efficient
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The Convention, which came into force in September, and is a significant development in international commercial dispute resolution and will surely help India’s case in ‘Ease of doing Business’, said Kasiviswanathan Shanmugam, Singapore’s Minister of Home Affairs and Minister of Law.
MUMBAI: As a member of the Singapore Convention on Mediation (Convention), India can play a role in the swift resolution of corporate disputes through mediation, a senior Singaporean minister told ET.
This comes amid the government’s efforts to improve India’s ranking in ‘Ease of doing Business’.
Digital solutions to justice, the way ahead
Promoting Digital justice - grapestock×
Covid has brought digital court hearings centrestage. This can extend to arbitration, conciliation and out-of-court settlements
Over nine months into the Covid pandemic, the inequity of its impact is undeniable. Rising uncertainty led to a large number of people losing lives, jobs, facing contract violations, and being unable to pay back loans.
As of September 2020, the judiciary of the country had to deal with almost 4 crore pending cases, with a 3.6 per cent rise between February 1 and August 31 in the Supreme Court, a rise of 12.4 per cent since January 29 until September 20 in the High Courts, and a 6.6 per cent increase in the district and subordinate courts in the same period.
Although the U.K. has not ratified the newly effective Singapore Convention, which establishes a legal framework for mediated settlement recognition across jurisdictions, U.K. parties should heed the convention due to its scope and popular uptake, say Simon Everington and Johnny Shearman at Signature Litigation.