Globalization has expanded the arena of trade across the world. The fast and competitive world requires quick decisions and resolutions to keep in pace, yet, there has to be justification and precision. As human minds and nature is involved in trade and commerce, disputes are inevitable albeit unfortunate aspect of business life. Most of the disputes are resolved through amicable negotiation or settlement. Others are constrained to approach the concerned judicial forums, however on account of long delay and considerable expenditure occurring in the disposal of legal battles there has been tremendous movement towards the resolution of disputes through the alternative forum of arbitrators through which resolution is less cumbersome. The procedure avoids the stress of a conventional trail. It is flexible , speedy, cost effective and convenient process in view of special attention to a particular dispute by the particular arbitrators(s).
In India, since ancient days settlement of disputes by Panchayats has been a common process for resolution of disputes in an informal manner but now arbitration is regulated by statutory provisions promulgating the Arbitration and Conciliation Act,1996.That apart, the legislators, in a recent amendment to the Code of Civil Procedure brought in a Section 89 wherein the courts have been empowered, in pending matters before it, to find out existence of elements of a settlement which may be acceptable to the parties, to refer the same for resolution of disputes by an alternative mechanisms such as Arbitration ,Conciliation and Mediation. In fact, the Courts in India, of late encourage litigants to opt and avail all the alternative method of resolution of disputes empowering the arbitrators to hold and possess the powers as that of Civil Courts to do complete and full justice between the parties.
Therefore, the effective alternate dispute resolution is vital to commerce and industry. The foremost, Arbitration plays an important role that too, an Institutional Arbitration. To achieve the objects of effective ADR Mechanism, CNICA was formed by a non-profitable Trust viz., “TRUST FOR ALTERNATIVE DISPUTES RESOLUTION’.
The Trust is a non profitable organisation formed with the object of promoting ADR mechanism. CNICA is managed by its Chairman Mr.D.Saravanan, its General Secretary Mr.D.Anand and Treasurer Mr.G.Ashokapathy.