India

Dream realised, says CJI as deed for arbitration centre finalised | India News

HYDERABAD: The international arbitration centre at Hyderabad will be both an answer and assurance for international investors who had apprehensions about India’s expensive and time-consuming litigation process.
This was stated by CJI NV Ramana on Friday while addressing businessmen, industrialists and legal authorities after completing the registration process of the trust deed pertaining to the emergence of India’s first international arbitration centre
He said this was the first step for the emergence of an alternate dispute resolution facility and expected it to be a reality in the next few months.
Justice Lavu Nageswara Rao of SC and Justice RV Raveendran, an ex-SC judge, were made lifetime trustees of the arbitration centre. Ramana said the emergence of the facility was his dream. He thanked chief minister K Chandrasekhar Rao for the speed with which he agreed to housing the facility the moment it was discussed with him in June.
He said just because it was an international centre did not mean that domestic arbitration disputes could not be handled. He called upon all sections of people and professionals to make use of this facility.




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