Indian firms increasingly preferring arbitration

Nampally: The Confederation of Indian Industry (CII) and the International Centre for Alternative Dispute Resolution (ICADR) organised a seminar on the topic, 'Arbitration in Infrastructure & Construction Sector' at ICDAR regional office, Gagan Vihar, Nampally, on Saturday evening. High Court judge Challa Kodandaram participated in the seminar as the chief guest.

Speaking on the occasion, IDDAR regional secretary JNL Murthy made several valid suggestions to managers, executives, company directors, CAs, representatives of corporate companies and others who attended the seminar. Explaining the main objective of seminar, he said that the seminar aimed at making India a national and international hub for arbitration in infrastructure and construction sector.

He said that alternate ways of dispute resolution have already become popular in India and arbitration is one among them. Most of business organizations are coming forward to resolve their disputes. Murthy said that arbitration is being accepted by most companies as an effective means to address their disputes, both national and international.