IAMC-Hyderabad is India's first arbitration centre for alternate dispute resolution. It is currently operating from a temporary campus at Nanakramguda, following its inauguration by Justice Ramana along and Chief Minister K Chadrashekhar Rao in December last year.
Hyderabad: Chief Justice of India Justice NV Ramana laid foundation stone and performed groundbreaking ceremony for the construction of a new building of the International Arbitration and Mediation Centre-Hyderabad (IAMC-H) coming up at Raidurg here on Saturday.
IAMC-Hyderabad is India’s first arbitration centre for alternate dispute resolution. It is currently operating from a temporary campus at Nanakramguda, following its inauguration by Justice Ramana along and Chief Minister K Chadrashekhar Rao in December last year.
Speaking after laying the foundation, Justice NV Ramana thanked the Telangana government for allocating a prime land in the heart of the city and also providing Rs 50 crore for construction of the IAMC-Hyderabad. He said the State government has been very proactive and cooperative in establishment of the Centre which he hoped would find its place alongside reputed arbitration centres Centres in London, Singapore and others abroad.
He felt that the Hyderabad Centre is already attracting lot of people seeking low-cost alternate dispute resolution systems. It will be promoted at the fourth edition of the international conference on ‘Arbitration in the Era of Globalization’ to be held at Dubai on March 19.
Supreme Court judges Justice L Nageswara Rao and Justice Hima Kohli, SC former judge Justice RV Raveendran, Telangana High Court Chief Justice Satish Chandra Sharma, Ministers KT Rama Rao, Mohd Mahmood Ali, A Indrakaran Reddy, Talasani Srinivas Yadav, P Sabitha Indra Reddy and V Srinivas Goud, along with Telangana State Planning Board vice-chairman B Vinod Kumar, Chief Secretary Somesh Kumar and judges from the Telangana High Court were among the dignitaries who attended the ceremony.
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