Hyderabad: Chief Justice of India NV Ramana inaugurated the International Arbitration and Mediation Centre(IAMC) in Hyderabad on Saturday.
Earlier this month he said that approaching courts for settling disputes should be the last resort. He also said that one should approach a court only after exploring the option of arbitration.
"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 also said that the benefits of arbitration over traditional litigation include fewer delays, less expenditure, and more involvement of the parties in the process.
"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," he added.
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He emphasized that Hyderabad is Convenient in all aspects for the formation of the Center for International Arbitration and Mediation(IAMC). He Thanked Telangana CM KCR for approving immediately and setting up IAMC in Hyderabad within a short span of time. Justice NV Ramana with CM KCR inaugurated the first International Arbitration and Mediation Center (IAMC) in Hyderabad which is the first in the country.
Following the inauguration Justice NV Ramana along with Chief Minister KCR inspected the centre set up at Nanakramguda Phoenix VK Tower in Hyderabad. On this occasion, the Chief Minister KCR handed over the IAMC premises to the Chief Justice of the Supreme Court. At present this centre had set up in a temporary building. Telangana government has completed the land acquisition for a permanent building for the center.
The CJI said that the IAMC had a key role to play in compromise and mediation. Technical expertise and expert advice will be available, he said. The CM thanked KCR for co-operating in setting up IAMC. He thanked the Chief Minister for taking decisions on the matter. CJI told that cases and disputes will be easily resolved if there is consent of both parties.
Along with the CJI Telangana Chief minister, KCR participated in the inauguration of IAMC at Hyderabad. KCR said steps will be taken to resolve state disputes through arbitration. Laws will be brought by ordinance. The Chief Minister thanked everyone who worked hard to bring such a good centre here. He said that Hyderabad will be a global destination for many things in the future.
