3) Examine the existing traditional mechanisms for resolution of financial and commercial disputes in India also discuss the need for an online dispute resolution system. What measures need to be taken in this direction to achieve a robust dispute redressal system?(250 words)

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Topic: Separation of powers between various organs, dispute redressal mechanisms and institutions.

3) Examine the existing traditional mechanisms for resolution of financial and commercial disputes in India also discuss the need for an online dispute resolution system. What measures need to be taken in this direction to achieve a robust dispute redressal system?(250 words)

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Why this question:

The article provides for an assessment of existing traditional dispute redressal system in India and highlights the necessity of a robust online dispute settlement system.

Key demand of the question:

The answer must evaluate the current systems of dispute resolution available in India, enlist the existing mechanism for resolution of financial and commercial disputes in India and then examine them whether they are sufficient and thus highlight the necessity of Online system.

Directive word:

Examine – When asked to ‘Examine’, we have to look into the topic (content words) in detail, inspect it, investigate it and establish the key facts and issues related to the topic in question. While doing so we should explain why these facts and issues are important and their implications.

Structure of the answer:

Introduction:

Begin with dispute mechanism as a structured process that addresses disputes or grievances that arise between two or more parties engaged in business, legal, or societal relationships. Dispute mechanisms are used in dispute resolution, and may incorporate conciliation, conflict resolution, mediation, and negotiation.

Body:

Discuss the following :

  • Financial and commercial Dispute Redressal mechanisms in India.
  • India’s performance in dispute redressal is still poor; Challenges in the existing system , what needs to be done to overcome the present challenges.
  • Need for online resolution systems
  • Way forward – role of technology, online platform etc

Conclusion:

Conclude with optimism, that India is fast moving and It is not beyond its capabilities to harness the merits of technology in its governance systems.