Deeksha Sood –
Chief Justice of India NV Ramana on Thursday stated that he has sought the help of his counterpart in Singapore for establishing an International Arbitration centre in Hyderabad.
CJI noted that most of the companies go to either London or Singapore to settle their disputes while Hyderabad is well connected and is centrally located.
To set up the International Arbitration Centre in Hyderabad was his dream, CJI said in an informal discussion with Telangana HC legal correspondents at Raj Bhavan Delhi.
On a three-day visit to Hyderabad CJI explained that he held a consultation with the CJI of Singapore Menon during the latter’s recent visit to Delhi on setting up an International Arbitration Centre in Hyderabad.
The reputation of international arbitrators would be an important factor in ensuring the successful operation of the IAC. It would require the CJI to constitute a panel of renowned international arbitrators the CJI states.
Coordination of the Supreme Court Judge would be asked with the international arbitrators, Singapore CJI and Telangana government in establishing the International Arbitration Centre at Hyderabad.
Conference on arbitration will be held in August said by Chief Justice Ramana and he would personally talk to the CJI in Singapore on the matter, the location is not yet decided. Due to the pandemic situation whether it will be physical or virtual.
Further CJI said that we both are participating. If the meeting will be in a physical mode that will be more explanatory, I can interact with him. He promised that he would extend all his support.
CJI stated that, “Hyderabad is the best location for International Arbitration Centre as the city boasts of great infrastructure.”