Hyderabad: Chief Justice of India NV Ramana said on Saturday that approaching courts for settling disputes should be the last resort.
"My advice, after participating in the legal profession for over 40 years in different capacities, is that you must keep the option of going to Courts as a last resort. Use this last resort only after exploring the option of ADR - arbitration, mediation, and conciliation," the CJI said. He was speaking at the International Arbitration and Mediation Centre(IAMC) curtain raiser conclave in Hyderabad.
He said that a dispute can be resolved by having the right attitude meaning that one should set aside his ego, emotions, impatience, and embrace practicality. He added that when the conflict reaches a court, much is lost in the practice and procedure.
Pointing out that arbitration and mediation are currently the preferred modes of dispute resolution, the CJI said they have many benefits over traditional litigations including fewer delays, less expenditure, and more involvement of the parties in the process.
Also Read: Mediation as first step on conflict resolution is need of hour, says CJI Ramana
He said that despite the presence of some arbitration centres in India, the parties in the country that enter into an international arbitration agreement often opt for an arbitration centre outside India incurring huge expenses.
"The setting up of this International Arbitration and Mediation Centre in Hyderabad will change this trend in India. This Centre is being established with the best infrastructure and the empanelling of internationally acclaimed arbitrators and mediators," the CJI said.
He said that the advantages of setting up the Centre at Hyderabad include that there are several companies relating to pharma, biotech, aerospace, IT, real estate in the city, it is one of the fastest-growing cities in the country economically and it has year-round connectivity with all major cities of the world.
Telangana Chief Minister KCR said that he was happy to have an International Arbitration Center in Hyderabad. He said that Hyderabad is an ideal place for an arbitration centre. He said 25,000 square feet had been allocated for IAMC. It has been revealed that land will soon be allotted in Puppalaguda for a permanent building.
"Thanks to CJI Justice NV Ramana on behalf of the Telangana Government and the people. Mediation has always been in the country. Industries are facing controversies for a number of reasons. It is a pleasure to have an International Arbitration Center in Hyderabad," the Chief Minister said.
