Thread by @barandbench

Chief Justice of India NV Ramana to grace the event of Registration of Trust Deed in Respect for International Center for Commercial Arbitration & Mediation Center in Hyderabad
#supremecourt #arbitration

CJI Ramana receiving the official salute #supremecourt #arbitration

#SupremeCourt judges Justices L Nageswara Rao, Subhash Reddy also at the event. Justice Hima Kohli, Chief Justice of Telangana High Court, and former Supreme Court judge Justice RV Raveendran also present

CJI Ramana and other judges at the venue

Chief Justice of Telangana High Court, Hima Kohli. Justice Kohli was recently recommended by Supreme Court collegium for appointment as a Supreme Court judge. The decision of the Centre is awaited.

Justice Hima Kohli: Its a special day for us today. These defining moments take place when judiciary and executive join hands to create a bridge and it is a special bridge as it is a subject close to heart of judiciary, alternate dispute resolution

Justice Kohli: The registration deed will be executed today. Thank you for being with us.

The trust deed of the international arbitration centre being executed by CJI NV Ramana

#SupremeCourt judge Justice L Nageswara Rao signing the trust deed

Hyderabad becomes the first Indian City to set up an International Arbitration and Mediation Centre. CJI NV Ramana being thanked for mooting the idea. #alternatedisputeresolution #arbitration

#SupremeCourt judge, Justice R Subhash Reddy: It is a special day. We congratulate CJI Ramana to set up this. I had always asked people to refer to Justice Raveendran's judgment on Section 89 of arbitration act, but still cases are pending with lakhs of backlogs to clear.

#SupremeCourt judge, Justice L Nageswara Rao: This is a solemn occasion for start of a new era in the field of Arbitration. Arbitration is meant for speedy resolution of dispute, the delay in disposal of cases and cost involved, ADR was a mechanism in place

Justice Rao: London, Singapore, Paris, Hong Kong and Geneva. In Asia, Hong Kong and Singapore are doing very well with Indians going there. Ease of doing business has increased but we are still lagging behind in the enforcement of contracts

When people enter into contracts, people know how it will be resolved, whether its fast and hands of impartial arbitrators. the advantage of this centre is arbitrator can be selected from a panel of international arbitrators from judiciary and specialised field: Justice Rao

This will set party autonomy. Fees of arbitrators will also be regulated: Justice Rao

CJI Ramana begins address: Today is another important and historical day in the history of Telangana an history of Hyderabad, I never thought my dream will come true within 3 months, Thanks to Telangana CM @TelanganaCMO for this

#SupremeCourt

CJI: Justice Raveendran reluctantly agreed as he is usually busy. At our request he accepted this invite.

CJI: in 2003 i was a judge of this court, there was a function at NALSAR and AP Govt was requested for 10 acre of land for the arbitration centre. Chandrabhabu Naidu agreed and allotted the land.

CJI: However due to problem in system of judiciary could not materialise ..i hope the 10 acre land is still with us. I hope the HC can take it back and help this cause and an independent building can be created for the international centre.

CJI: Father of Economic Reforms of India is PV Narasimha Rao. I remember he requested the Secretary of state that we are ready to invest but we are afraid of litigation as we don't know how long will litigation go on. That is why Arbitration act 1996 was passed.

CJI: industries want the ease of business and not much litigation.

CJI: We hope this centre stands shoulder to shoulder with other international centres. we request the industries to support this new centre and the medium as it avoids the litigation route. I request Justice Kohli to also request industries on how to use this centre

CJI: When compared to foreign currency the amount you spend here will be less. so that is an encouraging factor to avail service of this centre.

CJI: The Chief Minsiter has promised us he will propagate the idea of arbitration and conciliation, this centre will also deal with domestic arbitration and disputes of local investors also. Not only limited to international arbitration

CJI: In Indian culture, we usually solve disputes between friends and family through mediation, its in the interest of efficient administration too.

Event concludes.
#supremecourt #arbitrationcentre #telangana