Arbitration in India under the "tight fist grip" of retired judges: Vice President Jagdeep Dhankhar

Retired judges have a "tight-fist grip” over arbitration space in India, Vice President of India Jagdeep Dhankhar said on Friday..Vice President Dhankar made the observation while commenting on the lack of diversity in the appointment of arbitrators in India.."Friends, I am sharing my thoughts. Nowhere on the planet, in no other country, in no other system, there is such a tight fist grip on the arbitral system by retired judges. In our country, this is writ large," Dhankar said..While applauding the Chief Justice of India (CJI) DY Chandrachud for a similar statement he made at an event held in February, Dhankhar further remarked,“It takes a lot of courage to speak out so objectively about a fraternity to which you belong and he said retired judges dominate the field. He goes on to add and I salute him for this, he said while other qualified candidates are overlooked … He implied that this reflects an old boys club mentality within the arbitration space.".The CJI’s statement will go a long way in making the arbitral process in the country strong, Dhankar added. The Vice President made the comments while speaking at the inaugural session of the 6th annual International Chamber of Commerce (ICC) India Arbitration Day..While welcoming the President of the International Court of Arbitration Claudia Salomon, Dhankar also observed that the global rise of women has been difficult. “Her election marks a momentous occasion as she becomes the first woman to hold this prestigious position but it is climaxed by another significant event in the centennial year of the ICC, International Court of Arbitration. With her extensive experience as an arbitrator and also as an emergency arbitrator, because this particular field will be occupying more space in times to come, she joins the ranks of trailblazing women who have broken barriers in the legal system," Dhankar said..He also termed the Arbitration Day celebrations a powerful testament to the growing importance of arbitration in India. Dhankar added that with the “explosive economic growth” in India, there are bound to be more disputes about commercial activities. “We therefore are in need of having a system that is robust, fast, scientific, effective, and delivers with the best of human brains,” he said. .While highlighting the advantages of institutional arbitration, Dhankar also spoke about the impact of judicial interventions in the process. “Brilliant minds, some of whom are present here, know how to exploit the judicial system to get interventions and they are legitimised by law, so nothing wrong in that,” the Vice President observed. However, he also called for setting up a mechanism to minimise judicial interventions. Dhankar added that the gain of the legal fraternity due to the protraction of disputes should not come at the cost of national prosperity. Dhankar further stressed on arbitral institutions taking a major role in the legal system in India. “There has been some growth in our country of arbitrary institutions but those institutions need to take central space and necessary changes in law are required to be effected to make them all meaningful," the Vice President said.