Why Singapore scores over India on settlement of corporate conflicts

Why Singapore scores over India on settlement of corporate conflicts

had issues related to their partnership, they said they would hold formal talks in Singapore rather than in India. Most of the Videocon Group's contracts with Indian parties provide for arbitration in Singapore, and several recent shipping disputes involving Indian companies are being settled outside the country, says Anirudh Krishnan, a Madras High Court advocate. Companies in India, as elsewhere, prefer to resolve their commercial disputes outside courts, through independent third-parties and a process called arbitration. "Arbitration is popular among companies as they do not want to enter into long-drawn litigation and also due to confidentiality issues," says KS Harisankar, executive director of the Centre for Advanced Research & Training in Arbitration Law, Jodhpur. So does the government as India's courts are submerged under pending cases—about 32 million as of June ...

Full article: http://economictimes.indiatimes.com/news/news-by-company/...

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