Rev Dr (Fr) Melwyn Pinto SJ, Director, AIMIT welcomed the participants and also welcomed the key speaker CA Lionel Aranha.
Mr Aranha said that the ADR Mechanism, comprising of negotiation, mediation, expert determination, and dispute review panel (DRP), independent dispute avoidance panel, and arbitration and conciliation gives parties in dispute an opportunity to work through disputed issues with the help of a neutral third party.
ADR can save a lot of time and money. It puts the parties in control, instead of lawyers or the court, by affording them an opportunity to tell their side of the story and have a say in the final decision. The ADR mechanism focuses on the issues that are important to the people, instead of just their legal rights and obligations. By avoiding the creation of one winner and one loser, the ADR mechanism preserves relationships by helping people co-operate and come up with flexible and creative options by exploring what each one of them wants to achieve.
Mr Lionel Aranha is in consulting practice in the finance and legal area for the last 30 years. He has 28 years of teaching experience, of which, 23 years as an adjunct faculty at IIM Kozhikode. He is also a visiting faculty at IIM Indore & IIM Visakhapatnam.