IAMC getting steady demand for arbitration and mediation services
Hyderabad: In a short timeframe, the recently established International Arbitration and Mediation Centre (IAMC) here has administered a variety of disputes for an aggregate value of approximately USD 400 million covering a wide spectrum of matters from energy sector, real estate to family disputes. In its quarterly report from December 21 to March 22, IAMC […]
Hyderabad: In a short timeframe, the recently established International Arbitration and Mediation Centre (IAMC) here has administered a variety of disputes for an aggregate value of approximately USD 400 million covering a wide spectrum of matters from energy sector, real estate to family disputes.
In its quarterly report from December 21 to March 22, IAMC Registrar Tariq Khan said that 22 matters have been referred to IAMC by various courts and tribunals across the country including two matters from the Supreme Court.
For the past three months, IAMC has been experiencing steady demand for its arbitration and mediation services as well as its infrastructural facilities from across the country. The Centre, in a short span, has conducted more than 50 hearings, both administered under the IAMC rules as well as ad-hoc with disputes aggregating USD 400 million, he said.
Importantly, the IAMC was slowly taking its first steps to grow its international presence and footprint. In mid March, it partnered a round table discussion covering varied perspectives on India as a seat of international arbitration in Dubai. The Centre is also looking forward to releasing its rules for international arbitration soon.
It organised and partnered four conferences and events nationally and internationally to create awareness in the field of arbitration and mediation by which it has gained attention among the business and legal community.
The Centre was poised to continue its growth in a new four-acre space in pursuit of its vision and mission, the foundation for which was laid by the Chief Justice of India NV Ramana on March 12, 2022. The IAMC’s office infrastructure and secretarial facilities also served as a venue for arbitration hearings under diverse institutional rules as well as some ad-hoc arbitrations nationwide.
The IAMC has been a supporting organisation in various national and
international events with leading national law universities in the country.
The Centre is in the process of entering into an MOU with WE-Hub which is a one-stop destination for promoting women entrepreneurs in India. It has also collaborated with other domestic and international institutions to conduct training courses, awareness programs and conferences to encourage arbitration and mediation.
“We have also seen a significant rise in membership of YIAMC (Young IAMC) among the students and young practitioners’ community,” he said.
