Advertisement

Hyderabad to host first arbitration centre from December 18

Posted : December 5, 2021 at 11:40 am IST by ManaTeluguMovies

HYDERABAD: The country’s first International Arbitration and Mediation Centre (IAMC) will be inaugurated in Hyderabad on December 18. The Centre will initially start functioning from a 25,000 sq. ft temporary accommodation at Madhapur while a permanent building will be constructed at Puppalaguda, land for which was allocated on Saturday.

The Centre is being established with the best available infrastructure and internationally acclaimed arbitrators and mediators from countries like Singapore, UK, etc would be empanelled. The Centre is expected to serve people not only from India but also from other Asian countries. Chief Justice of India NV Ramana and Chief Minister K Chandrasekhar Rao, along with various dignitaries were present at a curtain-raiser and stakeholders’ conclave of the IAMC on Saturday.

On the occasion, Rao said that the land parcel identified by the government was approved by the CJI.
He said that Hyderabad was the appropriate location for the IAMC which could resolve disputes between companies and business houses so that court cases are avoided. CJI Ramana said that the Mahabharata provided an example of an early attempt at mediation as a conflict resolution tool, where Lord Krishna attempted to mediate the dispute between the Pandavas and Kauravas. The failure of the mediation led to disastrous consequences, the CJI reminded.

“Reasons for conflicts are many. Misunderstandings, ego issues, trust and greed can lead to conflicts. Ultimately, small differences of opinion can lead to a major conflict. And even major conflicts can be resolved with some effort in understanding one other,” the CJI said. “My advice, after remaining in the legal profession for over 40 years, is that you must keep the option of knocking on the doors of a court as a last resort. Use this last resort only after exploring the option of ADR- arbitration, mediation and conciliation. Arbitration and mediation are efforts at restoring a relationship,” Justice Ramana said.

Later speaking in Telugu, the CJI said that ‘Telugu Bidda’ PV Narasimha Rao initiated reforms in India as Prime Minister and another Telugu man PC Rao was instrumental for Arbitration and Conciliation Act, 1996, under which the present Centre was being set up.

Ramana said that persons having respect and credibility in society could resolve disputes and give judgments. He said that spiritual speakers like Garikapati Narasimha Rao, Nagaphani Sarma and others could be empanelled in the IAMC. Telangana High Court Chief Justice Satish Chandra Sharma, Justice L Nageswara Rao, Law Minister A Indra Karan Reddy and others were present.


Advertisement

Recent Random Post:

9 PM | ETV Telugu News | 12th Jan 2022

Posted : January 12, 2022 at 10:53 pm IST by ManaTeluguMovies

9 PM | ETV Telugu News | 12th Jan 2022

Advertisement
Advertisement
728x90 Ad
Advertisement
Advertisement
728x90 Ad
Advertisement