There is a need for robust judiciary having knowledge of business practices to resolve economic conflicts, Supreme Court judge, Justice A K Sikri today said while advocating that the community should not be hounded unnecessarily.
Speaking at FICCI's 88th Annual General Meeting, he said that in any economy, disputes are bound to arise between business and the state or between two business entities and in such a scenario, a robust judiciary having knowledge of business practices becomes essential to resolve conflicts in a fair manner.
Quoting Justice Sikri, a statement issued by FICCI said that he has highlighted the need for judges to understand dynamics of business and challenges that businesses face so that they can resolve commercial disputes bearing in mind the impact of judicial decisions on business, economy and society.
He said good governance would automatically bring down the intervention of judiciary. Good governance implies a liberal democracy with high quality institutions, an effective, accountable and corruption free bureaucracy and a flourishing civil society.
The judge noted that there was evidence that the rule of law does contribute to national economic development. In contrast, where justice is delayed by endless recourse to appeals is representative of a weak judiciary system.
He said attributes of the judiciary system are that it should be independent and fearless and should be one which upholds the rule of law and added that the judiciary should bridge the gap between society and law and also protect democracy and the Constitution of the country.
He also said that there should be certainty and consistency in decision making and that there should be expeditious disposal of cases.
