HYDERABAD: Chief Justice of India NV Ramana and Telangana Chief Minister K. Chandrasekhar Rao on Saturday inaugurated India’s first International Arbitration and Mediation Centre (IAMC) at Nanakramguda on the outskirts of Hyderabad.
Speaking on the occasion, CJI Ramana said that the IAMC would emerge as one of the top destinations for arbitration and mediation due to Hyderabad being strategically located. The CJI thanked the Chief Minister for providing within a short span of time world-class infrastructure for the IAMC. “I am confident that the IAMC would be more popular than the one in Singapore,” he said.
Justice Ramana said that the IAMC won’t be confined to settling commercial disputes, but also resolve disputes related to the common people.
“The IAMC would be a boon for companies and organisations, both Indian and international, to resolve their disputes,” the CJI said. He also said that one should approach a court only after exploring the option of arbitration.
“One must keep the option of knocking on the doors of a court as the last resort. I say this after being in the legal profession for over 40 years in different capacities,” CJI Ramana said. “Use this only after exploring the option of Alternative Dispute Resolution (ADR) system by availing its methods of arbitration, mediation and conciliation, etc.,” he said.
Supreme Court Judges Justice L. Nageswara Rao and Justice Hima Kohli, SC former judge Justice RV Ravindran, Telangana High Court Chief Justice Satish Chandra Sharma, Human Rights Commission Chairperson Justice G. Chandraiah, Ministers Mahmood Ali, KT Rama Rao and Indrakaran Reddy were among those present.