Highlights
News Desk, AnyTV, New Delhi
Published by: Amit Mandal
Updated Tue, 08 Mar 2022 09:58 PM IST
Summary
The Supreme Court said that the arbitrators should charge a fee as agreed by the parties and the bench should frame uniform guidelines.
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The Supreme Court on Tuesday expressed displeasure over ONGC’s contention that arbitrators were collecting exorbitant and arbitrary fees. A bench of Chief Justice NV Ramana, Justice AS Bopanna and Justice KK Venugopal asked whether we should say that an arbitrator should work without taking money. It is better to stop the arbitration system.
The Supreme Court said that the arbitrators should charge a fee as agreed by the parties and the bench should frame uniform guidelines. The bench said that the Attorney General would very humbly want to tell you that the manner in which the Public Sector Undertakings are working is not commendable. You cannot speak of bias simply because the arbitrators cannot represent themselves in the process. You must state at the time of appointment that you do not agree to the fee.