22 hours Ago
Surat: The Federation of Surat Trade and Textile Associations ( FOSTTA ) has established a 16-member arbitration panel , with retired Delhi judge Surinder Aggarwal as its chairperson. The panel aims to resolve business disputes effectively. The panel will handle financial disputes and quality-related matters between parties in the textile sector.
The city's textile traders frequently encounter payment frauds and delays. Presently, disputants either register police complaints or pursue legal action through courts. The composition includes directors from the parent organisation, economists, legal professionals, and chartered accountants.
"The pane 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," said Kailash Hakim, president, FOSTTA. "In case the dispute continues after the order of the panel, the party can challenge the order in the High Court.
It cannot be challenged in the sessions court," said Aggarwal. Stay updated with the latest city news , weather , and Air Quality Index (AQI) updates for major cities like Delhi , Mumbai , Noida , and Bengaluru on Times of India ..
