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Bachelor of Commerce (B Com)
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Banking and Finance 3
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Project Appraisal and Recovery Measures
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ADR techniques include arbitration, conc...
Q.
ADR techniques include arbitration, conciliation, mediation and negotiation.
A.
yes
B.
no
C.
none
D.
none
Answer» C. none
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Banking and Finance 3
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In Shakuntla Sawhney v. Kaushalaya Sawhney,[(1979) 3 SCR 232]the Supreme Court has observed that “Finest hour of justice is the hour of compromise when parties after burying the hatchet, re-unite by a reasonable and just compromise” Whether this principle has been reflected in the ADR procedures mentioned in the Arbitration and Conciliation Act 1996?
Mediation can be termed as assisted negotiation.
Section 75 of the Arbitration and Conciliation Act 1996 specifically provides for the confidentiality of all matters relating to the proceedings.
“Court procedure is justice-oriented, whereas ADR’s merit also lies in the fact that the process is participatory and solution-oriented”.
Conciliation is a private, informal process in which a neutral third person helps disputing parties to reach an agreement.
Indian ADR system is based on the Common law system
Bargaining is a common feature of the negotiation process.
Arbitration can be ad-hoc, contractual, institutional or statutory.
In a contractual arbitration the jurisdiction of courts can be completely ousted under 1996 Act.
The award made by the Lok Adalat is deemed to be a decree of the civil court like arbitration Award.