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.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.