HYDERABAD: The International Arbitration and Mediation Centre (IAMC), inaugurated by Chief Justice of India NV Ramana recently, got its first batch of cases on Thursday, December 23, 2021.
They were referred by the National Company Law Tribunal (NCLT), Hyderabad Bench, Presided by Justice Ramalingam Sudhakar and Arekapudi Veera Brahma Rao (Member Technical), related to the dispute of Sanghi Brothers, a corporate entity dealing in cement, synthetics, polyzips, zippers etc to the IAMC. The dispute has been unresolved since 2008.
The NCLT, after taking the consent of the parties and with the assistance of the respective counsel, referred the matter for resolution of dispute to the IAMC.
During the course of hearing it was stated that two of the brothers reconciled with Ravi Sanghi, by way of a settlement. At present the dispute is between Girish Sanghi and other brothers.
The company in this case is an established corporate entity and this dispute would seriously affect its functioning in the long run.