Chief Justice of India N.V. Ramana on March 19 proposed the forming of a specially constituted authority to “pre-vet” high-stakes commercial and investment agreements to prevent dispute and litigation later on.
- The “pre-vet” advocates checking someone or something carefully to find out if they are acceptable or suitable for a particular job or use.
- The CJI proposed ‘pre-vet’ authority while speaking at the international conference on “arbitration in the era of globalisation” in Dubai.
- He noted that how in many cases disputing parties and governments conveniently disown their agreements at the time of its execution, either saying it was void or against public policy or law.
- To avoid such objections, it is high time to evolve some mechanism . one such is via pre-vetting by a specially constituted authority of the State, the CJI said.
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