Hyderabad: Chief Justice of India N.V. Ramana inaugurated the International Arbitration and Mediation Centre (IAMC) at Phoenix VK Tower in Nanakramguda here on Saturday.
Chief Minister K. Chandrashekhar Rao, Judges of the Supreme Court Justice L. Nageshwar Rao and Justice Hima Kohli, Chief Justices of Telangana and Andhra Pradesh High Courts Justice Satish Chandra Sharma and Prashant Kumar Mishra respectively, retired SC Judge R.V. Ravindran, Law Minister Indrakaran Reddy, Industries Minister K.T. Rama Rao, Home Minister Mahmood Ali Ali, Chief Secretary Somesh Kumar and other dignitaries were present on the occasion.
Speaking on the occasion, the Chief Justice of India said that he was delighted to inaugurate the centre which was established in a very short span. “When I came to Hyderabad on 12th June this year for the first time after being appointed the Chief Justice of India, I mentioned about having an international arbitration and mediation centre in Hyderabad. The Chief Minister immediately responded. A trust was registered on 27th August and an MoU was signed the next day. In less than four months, a wonderful state-of-the-art centre has come up,” he said.
The Chief Justice of India said that the arbitration and mediation has a long history in India. It gained more prominence globally due to the academic liberalisation. He said many domestic and international companies have arbitration centres in Singapore and London for resolution of their disputes. With the establishment of IAMC in Hyderabad, he hoped that the trend would change. “Its location in Hyderabad is an attraction. I may be accused of being a little partial towards it. This is my city. But honestly, Hyderabad is among the best cities in the country, a growing hub of commerce and one of the top destinations of business in India. I’m feeling proud that I could contribute something which will enhance the glory of the city of Hyderabad. Apart from this, Hyderabad has its own merits. I’m not showing any favour. It deserves all the best in the world,” he said.
“Hyderabad is strategically situated in the southern part of the country. It is a bridge between the north and the south with seamless integration of people of different cultures, languages, religions and regions. Most importantly, the people of this city are incomparable. They are welcoming, warm and filled with cheers. I cannot think of a better place for this (IAMC) than Hyderabad,” CJI Ramana said.
The CJI said that the IAMC has been established with a lot of expectations and hope. “Collectively we did our best. The world class infrastructure and outstanding facilities are available at this centre. It is for you to take it forward and turn it into the most sought after centre for resolution of all types of disputes including family and commercial. Good people are manning it. It will emerge as the top centre for arbitration and mediation,” he hoped.
CJI Ramana thanked everyone who extended their cooperation in establishing the IAMC, especially the Chief Minister.Earlier, Chief Minister Chandrashekhar Rao lauded the role played by CJI NV Ramana in establishing the centre in Hyderabad. He said that the State Government would bring suitable amendments or bring in a new law to ensure that all local arbitrations are done at this centre. He hoped that IAMC would turn Hyderabad into a global destination in the legal processes. He said that the Centre would prove to be of great use for the country. (INN)