Hyderabad: IAMC signs MoU with TSRERA

Speaking on the occasion, former Supreme Court Judge Justice L Nageswara Rao stressed on the need for resolving disputes of allottees and developers through mediation.

Hyderabad: The International Arbitration and Mediation Centre (IAMC) signed a MoU with TS Real Estate Regulatory Authority (TSRERA) on Saturday to address the complaints and issues between allottees and developers.

Speaking on the occasion, former Supreme Court Judge Justice L Nageswara Rao stressed on the need for resolving disputes of allottees and developers through mediation. He also suggested to TSRERA Chairman N Satyanarayana to get the matters pending before TSRERA settled through IAMC and said this would go a long way in settling the cases of allottees and developers in the coming years.

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NAREDCO, CREDAI and advocates of Indian Law Firm Partners to Industry also attended the event and expressed their readiness in supporting the forums to be constituted for settlement of cases of TS RERA at IAMC in due course of time.

The MoU was signed as part of the “International Arbitration Day” here on Saturday as IAMC’s had completed two years operations. The IAMC, Hyderabad is popular at international level in resolving disputes by way of arbitration and conciliation.

Addressing on the occasion, Telangana Chief Justice Alok Aradhey emphasized on the importance of arbitration and mediation, besides speaking about the benefits of settling the cases early through arbitration and mediation.

Supreme Court Judge Justice Hima Kohli and others also spoke on the occasion, said a press release.