Advaidh Manoj, St. Joseph's College of Law
INTRODUCTION
In the dynamic corporate world, the sophistication of the corporates and the small economy players in handling their business is why there is a healthy atmosphere for the lighter form of dispute resolution like mediation to grow in the field. There is an amicable relationship among various contemporaries that arises from such a genre of dispute resolution. Pendency of cases in India is not classified information. Forms of dispute resolution like mediation unburden the judiciary of the mammoth that is pendency. In a view to reduce such pendency the Commercial Courts Act 2015 (CCA) was amended in 2018. It states that any suit that does not contemplate urgent interim relief cannot be instituted without the plaintiff having exhausted the remedy of pre-institution mediation and settlement.
It has become an everyday ordeal for parties in business together to add multi-tiered dispute resolution clauses in agreements. This advances good faith negotiations that could also be supervised by a third party for neutrality.
