| It was necessary to introduce arbitration in solving commercial disputes. It was a speedy and time saving process as well as low cost and this should encourage individuals and companies to enter into arbitration proceedings, speakers said at a seminar today.
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| Indian Chamber of Commerce (ICC) and Indian Council of Arbitration (ICA) had jointly organised the symposium. This was the third symposium on srbitration within last 12 months held by ICC & ICA.This time the topic was “ Arbitration and Oral Evidence”.
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| Justice Kalyanjyoti Sengupta of the Calcutta High Court inaugurated the symposium followed by other speakers like retired Supreme Court judge Justice G N Ray, A K Rungta, former president FICCI and governing body member of ICA, as well as senior advocetes like P K Roy and Debal Banerjee.
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| Justice Ray was the chairperson of the technical session. He said that the arbitration was gaining in popularity by the day for its quick settlement time.
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| The technical session discussed the merits of oral evidence vs documentory evidence, use of witnesses, and obligations and rights of the witnesses. Hearing of the witness and choosing the witness also featured.
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| P K Ray and Debal Banerjee discussed the difference between oral evidence and documentary evidence and the use of witness in arbitration proceedings. Choosing of witnesses in arbitration proceedings was vital, both senior advocates said.
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| Rungta spoke about the usefulness of arbitration in settling disputes arising in national and international trade.
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| He said that proceedings before the arbitrators was becoming more and more in the nature of court procedure. This had to be reversed as it made arbitration dilatory and expensive and defeated its purpose.
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| Symposium speakers also discussed new issues related to arbitration. |
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