National

Merchant body opens arbitration centre

Our Bureau Mumbai | Updated on January 17, 2018 Published on July 10, 2016

Claims under ₹2 cr can be fast-tracked via the new facility

The Indian Merchants Chamber has launched its alternate dispute resolution centre here.

The IMC International ADR (International Arbitration Centre) will offer the full spectrum of arbitration, mediation and for corporates and individuals.

The centre will have a panel of arbitrators and mediators with a code for their conduct, and the physical infrastructure required to conduct arbitration proceedings.

“There was a time when you had to convince parties to use arbitration,” said Mohit Shah, a former Chief Justice of the Bombay High Court. “But now people are more willing to take this option,” he said. Corporates need speedy resolution with set guidelines and administrative support for institutional dispute resolution to work, he added.

Claims under ₹2 crore can be fast-tracked at IMC’s arbitration centre.

The arbitration panel will have lawyers, former judges and “non-lawyer” subject specialists to guide the process.

“The mediator appointed must command confidence and be seen as impartial to the process. Former judges are often appointed to such panels because of a crisis of confidence outside (the judicial system,” said Sujata Manohar, retired Supreme Court judge, who launched the centre.

Published on July 10, 2016
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