Understanding the Concept of Commercial Disputes and NSE Disputes Resolution through Arbitration

Abstract

The main foundation of business transactions is an exchange of promises. Non-performance of the
promises under the contract by either party will result in disputes. When business disputes or
commercial disputes go for settlement, it becomes an onerous task to solve such disputes. William E.
Gladstone said “Justice delayed is justice denied”, this applies to imparting justice in all fields and
matters regardless of whether being criminal or civil. The civil courts in our country are
overburdened and choosing litigation for dispute resolution requires time and patience as having a
dispute resolved in court is a complex process. Corporates have a dearth of time because when it’s a
dispute, either of the two money or goodwill is at stake. To reduce the time consumption and alleviate
the process of dispute adjudication. Commercial courts were introduced under the Indian legal
system through the Commercial court act 2015. “The Commercial courts, commercial division, and
commercial appellate division of High Courts ordinance 2018 was promulgated by the President
which came into force from 3rd May 2018”. The pecuniary jurisdiction of commercial courts has been
kept low so as to boost up the procedure for dispute settlement and to encourage people to choose
Arbitration over any other means of settlement. “Commercial arbitration has widely been recognized
in different parts of business world as a means of dispute resolution particularly from 1980s and
1990s”. Arbitration is a flexible process and provides expert solutions as arbitrators are specialized
professionals who have expertise in fields of trade and business. Another type of dispute that can
involve arbitration is a National stock exchange dispute. The purpose behind bringing arbitration for
resolving disputes of the National stock exchange (NSE) was to empower investors and to reduce the
time wasted on solving disputes via courts.