Chief Justice of India (CJI) N.V. Ramana on Friday said that as litigation is tedious, costly and time-consuming, and so people should go for mediation. The CJI added that this will strengthen the judiciary.
“Litigation is tedious, costly and time-consuming, so people should go for mediation. This will, in turn, strengthen our judiciary,” said CJI Ramana, while attending an event at International Arbitration and Mediation Centre in Hyderabad. On this occasion, the CJI Ramana signed the Trust Deed of the International Arbitration and Mediation Centre that is proposed to be set up at Hyderabad, in the presence of Justice L. Nageswara Rao and Justice R. Subhash Reddy in Hyderabad today.
While speaking on the occasion, the CJI said that in 1995, when economic reforms were first introduced in the country by former Prime Minister late P.V. Narasimha Rao, all foreign investors said they were ready to invest in the country but were apprehensive about litigations that stretch into years before resolution. Stating that this made the investors reluctant to come to India, the CJI recalled that at that point of time, Narasimha Rao initiated a new law — The Arbitration and Conciliation Act, 1996. Thereafter, arbitration, conciliation and mediation procedure started. Explaining the reason behind it, the CJI said investors, both from India and abroad, were keen on doing business easily and did not want any litigation.
CJI Ramana also said that the International Arbitration and Mediation Centre proposed to be set up at Hyderabad will also include and solve Domestic and International Arbitration and cases between local investors. “There will be an efficient effort of resolving the disputes amicably in this proposed International Arbitration and Mediation Centre to be set up at Hyderabad,” he said.
On the occasion, Justice Nageswara Rao said that there are five big arbitration centres of repute in the world and they are London, Singapore, Hong Kong, Paris and Geneva. The International Arbitration and Mediation Centre proposed to be set up at Hyderabad will be helpful for settling cases through mediation and or arbitration.
“The advantage is that the arbitrators will be appointed by a panel from the Centre. The expert panel will be not only from the field of the judiciary, but also from various other fields, as well. The timeline and fee (for solving the cases by arbitrators) will be decided by the Centre,” Justice Rao said.