New Delhi, Nov 29 (Agency) Supreme Court judge Justice Surya Kant on Thursday highlighted how mediation can serve as a valuable tool in resolving disputes under the Insolvency and Bankruptcy Code (IBC).Addressing the gathering after releasing the book on “Mediation in Insolvency – A Game Changer in Viksit Bharat” here this evening, he shared how his perspective on mediation was transformed through judicial experience. He admitted that as a practising lawyer, he was skeptical of mediation, but his perspective changed after his elevation as a High Court judge.“… Mediation was not my cup of tea. After my elevation as a High Court judge, I realized that mediation can be explored as a method for dispute resolution. Over time, I have come to understand that mediation is an effective tool,” he remarked. While explaining how mediation can be a valuable tool in disputes resolution, he said, “The environment of competing interests creates fear among stakeholders, making it an opportune ground for mediation.”
Justice Kant emphasized that mediation could rescue companies by avoiding expensive, prolonged litigation, citing global examples of its success. The book, edited by retired Supreme Court Justice A K Sikri and advocate Sumant Batra, features contributions from lawyers, economists, and experts in insolvency.Other dignitaries including Delhi High Court Chief Justice Manmohan and Attorney General R Venkataramani, alongside other attendees, were present at the event. The event highlighted the need for alternative dispute resolution methods to support businesses and expedite conflict resolution in a rapidly growing economy.