India International Arbitration Centre (IIAC) & IIM-Rohtak hold joint summit on Arbitration & Dispute Resolution: Creating conducive business climate
New Delhi, May 3, 2023: The India International Arbitration Centre and the Council for Strategic Affairs, Indian Institute of Management, Rohtak jointly organised a summit on ‘Arbitration & Dispute Resolution Creating Business Climate’ at the Delhi High Court, New Delhi.
The chief guest for the event was Justice Surya Kant, Hon’ble Judge, Supreme Court of India and the guest of honour for the ceremony was Justice Satish Chandra Sharma, Hon’ble Chief Justice, Delhi High Court, according to a press statement.
A Memorandum of Understanding (MoU) was signed between the Indian International Arbitration Centre & the Indian Institute of Management Rohtak on the occasion.
The event also witnessed panel discussions on the topics, ‘Discussing best practices in commercial arbitration’ and ‘Efficient and effective dispute resolution to create a positive business environment’ with participation from experts and industry leaders like Mohit Saraf, Managing Partner, Saraf & Partners; Akhil Prasad, Member - Board of Directors, Boeing India; Gagan Puri, Managing Director, Alvarez & Marsal; Sunil Mehta, Chief Executive, Indian Banks’ Association; Deepak Gupta, Director Projects, GAIL India; among various other panellists, the press statement said.
Justice Surya Kant in his valedictory address stated that arbitration incentivizes foreign businesses to enter the Indian market and holds the promise of smooth resolution of disputes through arbitration. “The MoU entered by IIAC and IIM Rohtak will help create a good pathway towards arbitration and spread awareness about arbitration to business particularly in cross border and international disputes. IIM-Rohtak has a world class expertise in management practices, consumer decision-making, supply-chain, public policy, technology, and economics and it can assist IIAC in leveraging its expertise. Together, this has a unique potential and opportunity to truly make India the arbitration hub for the world,” Justice Surya Kant said, as quoted in the press statement.
Justice Satish Chandra Sharma congratulated IIM Rohtak and IIAC for the MoU and said that it will help create responsiveness on arbitration. He stated that arbitration creates a beneficial environment for businesses for its disputes and that arbitration will keep growing. He further added that the most important thing right now in arbitration is to have a time frame.
Justice (retired) Hemant Gupta in his address said that the role of arbitration starts at the point of dispute itself. It is important to build self-esteem and bring trustworthy people to the table. He said that the Memorandum of Understanding between the Indian International Arbitration Centre and the Indian Institute of Management, Rohtak brings together both the institutes to conduct various seminar and certificate courses of about 52-60 hours and diploma courses which shall train the young minds in the field of arbitration. “IIM-Rohtak has an excellent programme of BBA+LLB. Thus, it is great initiative on the part of IIM-Rohtak that will create a platform to engage in and explore the field of arbitration,” Justice Gupta said, according to the press statement.
Prof. Dheeraj Sharma, Director, IIM-Rohtak in his inaugural address said, “Arbitration is key to save the humongous money wastage and lack of positive labor force that comes with not going for arbitration.”
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