The Court also commented about the repercussions of having unresolved commercial disputes on the national economy.
“If Commercial disputes are not resolved at the earliest, not only it would affect the commercial relations between the parties but it would also affect economy of the country. It may affect the ease of doing business in the country. If the country has to compete with the global business, a confidence has to fostered that in our country the commercial disputes are resolved at the earliest and it does not take a number of years in resolving such Commercial disputes,” the Bench emphasized.
Earlier, the Court had on April 21, called upon all High Courts to submit before it details with respect to the applications pending before the concerned High Court under Section 11(6) of Arbitration and Conciliation Act, seeking appointment of arbitrator.
Pursuant to that, the High Courts had sent the statements regarding pending applications under Section 11(6).
Source: Barandbench
