Surat Textiles Traders Form 16-Member Arbitration Panel To Resolve Disputes

2025-03-11 02:19:33

(MENAFN- KNN India) Surat, Mar 11 (KNN) The Federation of Surat Trade and Textile Associations (FOSTTA) has formed a 16-member arbitration panel to be chaired by retired Delhi judge Surinder Aggarwal. This newly established body aims to efficiently resolve business disputes within the textile sector.

The panel will focus on addressing financial disagreements and quality-related issues between parties in the textile industry.

Textile traders in Surat frequently face challenges related to payment frauds and delays, with disputants currently limited to filing police complaints or pursuing legal action through the court system.

The arbitration body's membership includes directors from FOSTTA, economists, legal professionals, and chartered accountants, bringing diverse expertise to the dispute resolution process.

FOSTTA President Kailash Hakim emphasised the practical benefits of the new system, stating, "The panel will help aggrieved parties resolve their disputes through talks. It will save their time, and the deserving person will not have to suffer a loss."

According to Chairperson Aggarwal, any continued disputes following the panel's ruling can only be challenged directly in the High Court, bypassing the sessions court level. This streamlined appeal process adds to the efficiency of the new arbitration system.

(KNN Bureau)

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