NEW DELHI: Chief Justice of India S A Bobde said on Monday that the judiciary needs to reduce delays in dealing with cases involving foreign investors or arbitration awards to minimise risk of claims against the country in international fora under Bilateral Investment Treaties (BITs).
The CJI said at the launch of a book on Arbitration laws by Supreme Court judge Justice Indu Malhotra that action of Indian judiciary has given rise to claims under BITs in the international plane, “which is unprecedented”.
Law Minister Ravi Shankar Prasad, who also spoke at the event, expressed concern that there appeared to be a bias towards big economies while granting awards as huge damages are never awarded against big countries like USA, UK or Europe. (AGENCIES)
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