Business News | Arbitrate in India Conclave by IDRC: Make India a Legal Tourism Hub

New Delhi [India] June 1 (ANI/BusinessWire India): Recently, the Indian Dispute Resolution Centre (IDRC) organized 'Arbitrate in India Conclave, 2022' at the India International Centre, New Delhi. This event marked the 2nd anniversary of IDRC.

Justice Arjan K. Sikri, Former Judge of the Supreme Court of India and Judge, International Commercial Court, Singapore was among the panellists at the event. Balbir Singh, Additional Solicitor General; Tejas Karia, Partner and Arbitrations Head, Shardul Amarchand Mangaldas and Vanita Bhargava, Partner, Khaitan and Co. were the other panellists of the conclave. Sanjeev Srivastava, former BBC India Head was the Moderator for the conclave.

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Justice AK Sikri stated that, "We need to take small steps. Just in one day's time we can't think that the western countries would come and look forward to India as an International hub. So why not start with South Asian countries. We may have good arbitration centres in Singapore, Hong Kong etc. but there is nothing in the 6-7 countries around India. Once we start, they'll look forward (to Arbitrate in India). If we are able to show our work, we are able to show our mettle, and we are able to demonstrate to the world that we are successful, then it would spread to other countries as well."

Justice Sikri said that, "'How to make India a hub of international arbitration' is not limited to only arbitration but all ADR tools including mediation and conciliation as well. In limited words, when we talk of international arbitration, we seek to invite parties not belonging to India or one of the parties being Indian while the other party is a foreign one. They must resolve their disputes by coming to India. The IDRC has also been established with the same motive."

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Justice Skiri further stated that just like 'Health Tourism', India should focus on "Whether we will be able to create a kind of an environment to nurture 'Legal Tourism'? As of now, many countries have been able to achieve it and Singapore is one of the examples if we talk in the context of Asia."

Balbir Singh, ASG, emphasised on the need for having a trained pool of arbitrators to add value to the Indian system, as well as trained representatives, that not only include the Indian Bar but also foreign lawyers coming to India. He lamented the present scenario wherein, "We advocates go to the courts and after the court hours we do arbitration, and we may think that we have a separate Arbitration Bar." He said that we need more specialists like his co-panellists, Tejas Karia and Vanita Bhargava. He also said that, "We need more IDRC like Arbitration Centres across India."

He added that, "In a broad spectrum, India wants to be a USD 5 trillion economy and I think dispute resolution is one of the components of that economic activity which would finally result in achieving this kind of number the government is looking at." He assured that, "the government is very conscious of this part."

Tejas Karia talked about the need for institutionalisation of Arbitration, use of technology, reduction of approaching courts in Arbitration, except in extreme cases. Emphasising on one major benefit of Institutional arbitration he said that there is no need to go to the court for appointment of arbitrator. He further said that, "I have been advocating that India can never become a hub of international arbitration because India is a very large country with so many diversities and judicial disciplines, and we are comparing ourselves with Singapore, London, Paris, Hong Kong which are cities or small countries." He said that in the size of India that can never happen.

He suggested, "We should rather identify cities in India that can be a hub for International Commercial Arbitration, focusing on the cities in which the court system is supportive or are arbitration-friendly jurisdictions and judges are trained and experienced to handle arbitration matters."

Vanita Bhargava noted that the government has been really proactive in making amendments to try to control mischief, and should continue this endeavour. She also mooted the need for having specialised courts dealing specifically with Arbitration cases, as the commercial courts handle other matters as well which take away the time.

Talking about the best model for India, Bhargava said that, "We should start with the cities though it is not just one aspect of having an institution. Courts are also pro-active. We can start with the metro cities. Once you develop a model in 4 big cities, you can take it to other cities. Where there is more investment, such cities can be targeted to develop robust institutions and courts for the training of judges. Trained judges must be posted there."

About the Event: Arbitrate in India Conclave: Let's make 'Resolve in India' a Reality

The event marked the Second Anniversary of the Indian Dispute Resolution Centre which was inaugurated by HMJ Arjan K. Sikri, Former Judge, Supreme Court of India in May 2020. In a short span of time IDRC has accomplished more than 500+ arbitration proceedings and assisted in numerous International and National Arbitrations presided by Retired Hon'ble Judges of the Supreme Court and High Courts despite pandemic conditions.

The Conclave was organised to bring to the fore our Nation's strengths and challenges in becoming an International Arbitration Hub. The Conclave will ponder over the theme 'Arbitrate in India' to strengthen the Govt's call for 'Resolve in India'.

Apart from former judges of Supreme Court and High Courts and senior advocates, the IDRC panel arbitrators, leading law firms, the PSUs and members of the Bar association also attended the conclave. Entire Event was organised professionally by IDRC's Board of Advisor Members Tanmaya Mehta, Divyansh Hanu Rathi, Sumedha Sindhu Rathi and Riya Rathi.

Organisers - Indian Dispute Resolution Centre - IDRC

IDRC is an Institutional Arbitration Centre established by the not-for-profit Organisation 'International Dispute Resolution Council'. IDRC is registered with the Ministry of Commerce and NITI Aayog and empanelled with the Ministry of Law and Justice, GoI. It provides a state-of-the-art institutional environment for online and offline resolution of disputes through Arbitration, Mediation and Conciliation as well as Expert Determination and Early Neutral Evaluation from its Cloud Based inhouse Digital Platform and through its affiliates in all major Cities in India.

In a short span of time, IDRC has accomplished more than 500+ arbitration proceedings and assisted in numerous International and National Arbitrations presided by retired judges of the Supreme Court and High Courts despite pandemic conditions.

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Event also saw participation of:

- HMJ Sunil Ambwani, former Chief Justice Rajasthan High Court;

- HMJ JR Midha and HMJ Vinod Goyal former judges of Delhi High Court;

- HMJ Rameshwar Malik former judge of Punjab and Haryana High Court;

- Pinky Anand, Additional Solicitor General of India;

- PK Malhotra, former Secretary, Ministry of Law and Justice;

- Sanjay Rathi, Hony. Secretary, Bar Council of Delhi;

- SS Rana, former Director General, Excise and Customs.

- Entire litigation team of Khaitan & Co. led by Ajay Bhargawa

- Entire litigation team of SNG and Partners

- Senior Advocates: P. Nagesh, Sushil Salwan, Ratan Kumar Singh, Col. R. Bala, Geeta Luthra, DN Goverdhan, Ramesh Gupta and ors.

- Anju Rathi Rana and K Biswal, Additional Secretary, Ministry of Law and Justice, Government of India

- Mahavir Singh, Judicial Member ITAT

- SS Sirohi, former member Telecom Board

- Ajit Pandey, Member Judicial, PNGRB

- Anil Kapoor, Former Director, 'Make in India', PMO

- Dr OP Yadav, Chairman, National Heart Institute

- Host of media persons, Senior Bureaucrats and officers of Public Sector Undertakings

- And many other dignitaries.

Event was supported by -

1. Shardul Amarchand Mangaldas, Law Firm2. Khaitan & Co, Law Firm3. RattanIndia4. Torrent Pharma5. Bank-se Digital Platform6. SNG & Partners, Law firm7. Trademarkclick.com8. Telecommunications Consultants India, Union of India PSU

Knowledge Partners to the Event were:

1. National Law University, Delhi2. O.P Jindal Global University3. Vivekanada Institute of Professional Studies, Delhi4. Galgotia's University5. Indian Institute of Arbitration, IIArb6. Indian Institute of Mediation, IIMed7. Latestlaws.com8. Lexidem & Rathi, A Global Law Firm

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