IDRC organised Arbitrate in India Conclave 2024, Justice Hima Kohli and AG R Venkataramani bat for strengthening Institutional Arbitration

The Indian Dispute Resolution Centre IDRC in collaboration with the Bar Council of Indiarsquos IIULER successfully hosted the 3rd Arbitrate in India Conclave 2024 on 29th November 2024 at the India International Centre Lodhi Estate New Delhi This landmark event commemorated IDRCrsquos fourth anniversary as a leading institutional arbitration center in India and the AsiaPacific region Vienna International Arbitral Centre Austria joined hands with IDRC in organizing the ConclaveThe Conclave featured two insightful panel discussions India as a Hub for Institutional Arbitration Adhoc v Institutional Arbitration and Arbitration in Banking and Finance Disputes The Way ForwardThe event brought together prominent Jurists Arbitrators policymakers BankingNBFC heads and industry leaders to discuss Indiarsquos progress in institutionalising arbitration and the roadmap for its futureThe Keynote Address was shared by Honrsquoble Sh Harsh Malhotra Union Minister of State of Corporate amp MoRTH The Conclave was graced by esteemed dignitaries including Honrsquoble Ms Justice Hima Kohli Former Judge Supreme Court Mr R Venkataramani Attorney General of India Mr Manan Kumar Mishra Senior Advocate Chairman BCI amp MP Mr Tejas Karia Partner and Head of Arbitration SAM Mr Ratan K Singh Senior Advocate Supreme Court of India and International Member Keating Chambers LondonThe opening session of the Conclave featured an inspiring inaugural address by Sh Manan Kumar Mishra Chairman of the BCI who emphasized the importance of arbitration in Indiarsquos rapidly growing economy While lauding BCIs collaboration with IDRC he remarked that the BCI is committed to leading reforms that not only promote institutional arbitration but also ensure that India becomes the destination of choice for resolving disputes globallyHonrsquoble Justice Hima Kohli as the Chair of the Panel Discussion shed light on the role of courts in international arbitration emphasizing the need for balance the frequent amendments to arbitration laws often lead to challenges resulting in prolonged litigation that escalates from High Courts to the Supreme Court with increasing judicial scrutiny at each level Therefore we must strive to bring reforms without amending the lawsMr R Venkataramani as the CoChair of the Panel Discussion highlighted the need to transition from the adhoc arbitration culture He added that Govt is committed to strengthen arbitration institutions in India and in the Arbitration and Conciliation Amendment Bill 2024 it is proposed to introduce Emergency Arbitration and allow arbitral institutions to have inhouse Appellate TribunalsMr Tejas Karia highlighted the advantages of institutional arbitration lies in its established set of rules ensuring uniformity and adherence to globally recognized best practicesThe first Panel Discussion was moderated by Mr Arush Khanna who steered the session with insightful questions about the challenges and opportunities in institutional arbitration in IndiaThe Keynote Address shared by Honrsquoble Sh Harsh Malhotra Union Minister of State of Corporate Affairs and Road Transport and Highways highlighted the historical Legacy of Arbitration in Indian Vedic Culture ingrained in our Upanishads and Panchayat System He shared the Govtrsquos commitment to strengthen the Institutional Arbitration ecosystem in our country and cited 2024 Amendment Bill as another push in that directionThe second panel lsquoArbitration in Banking and Finance Disputes The Way Forwardrsquo focused on the unique challenges and opportunities in resolving financial disputes through arbitration The Panellists for the Panel Discussion were Mr Amit Goyal Partner Forensic amp Integrity Services EY India Mr Sanjay Aggarwal Divisional Head Retail Assets Edelweiss Asset Reconstruction Mr Aseem Chaturvedi Partner Dispute Resolution Khaitan amp Co The panel discussion was moderated by Dr Shashwat Bajpai who eloquently steered the panel discussion in an engaging and interactive mannerThe Indian Dispute Resolution Centre IDRC is a notforprofit institutional arbitration centre registered with NITI Aayog and empanelled with the Ministry of Law and Justice Headquartered in New Delhi IDRC offers stateoftheart facilities for online and offline dispute resolution through arbitration mediation and conciliation Since its inception IDRC has successfully conducted over 2000 arbitration proceedings contributing significantly to the advancement of alternative dispute resolution mechanisms in IndiaThe IDRCs Arbitrate in India Conclave 2024 was supported by Aditya Birla Ernst and Young along with LatestLawscom Indian Institute of Arbitration Indian Institute of Mediation OP Jindal Global University among others

IDRC organised Arbitrate in India Conclave 2024, Justice Hima Kohli and AG R Venkataramani bat for strengthening Institutional Arbitration

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IDRC organised Arbitrate in India Conclave 2024, Justice Hima Kohli and AG R Venkataramani bat for strengthening Institutional Arbitration

Other Articles

Mid-Day Fast