Only an Advocate on Record can file a vakalatnama. They handle pleadings and other documents in the Supreme Court. Plenty of lawyers might argue cases out loud. Still, every petition needs to go through an AOR. That includes appeals, applications, and interlocutory papers, too.
Arbitration lawyers help to settle disputes in a fair manner and efficiently when courts do not have jurisdiction. Expert knowledge allows these lawyers to procure good results in the advice of arbitration clauses and through the duration of arbitration processes. Only these lawyers can engage strategic thought and possess the communication skills that project their way through handling various controversy, both across the borders of nations and international borders.
Arbitration was brought into the picture as a substitute for conventional litigation with the assurance of being quicker, more adaptable, and economical. Yet, in India, the experience of arbitration has tended to go off track from the intended aim. Regardless of numerous rounds of legislative change and judicial attempts to make arbitration easier, procedural complexities still undermine the efficiency of arbitration
Arbitration has been touted over the years as an ideal mechanism for the resolution of commercial disputes on account of its efficiency, flexibility, and definiteness. In India, however, the arbitration process has traditionally been faulted for undue court interference, which negates its very purpose of offering an alternative to protracted litigation.
In contrast to litigation, where jurisdiction is attached to the courts of a particular country, arbitration provides the parties with the freedom to choose a neutral forum. The seat of arbitration has fundamental legal implications, impacting not just the procedural architecture of arbitration but also the enforceability of the arbitral award.
Cross-border disputes typically arise from commercial transactions involving parties in different countries. The common sources of conflict are breach of contract, performance or payment delays, shareholder disputes, Intellectual property infringement, conflicts over quality or delivery of goods/services, and jurisdictional differences.
International commercial arbitration is a voluntary, private process in which disputes between international commerce or trade relations parties are decided upon by impartial arbitrators instead of national courts.
The term of probation is typically specified in the contract of employment and is often between three and six months, but may be longer for certain reasons. The main aim is to protect the employer from the permanent engagement of an unsuitable employee, while still providing a fair deal to the probationer.
This parallel existence of courts and confidentiality tends to create a conflict: while arbitration guarantees privacy, proceedings before courts are public. Confidentiality is held out as one of the cornerstones of arbitration. Sides resort to arbitration so that trade secrets, financial data, and in-house strategies do not enter the public record.
One of the most significant prohibitions now in force is the ban on banks and NBFCs investing in AIF schemes that hold downstream investments in their own debtor companies. A “debtor company” refers to an entity to which the bank or NBFC has an existing or recent exposure.
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