IAMC | Hyderabad, April 16 (Maxim News): The International Arbitration & Mediation Centre (IAMC), Hyderabad, hosted the First India Mediation Day here in Hyderabad.
Addressing the gathering on the occasion Justice NV Ramana, former Chief Justice of the Supreme Court of India, said with about 22 and a half years of judicial experience he can say that the ability to resolve disputes at a faster pace will help the growth of the country. “The world today has realized Arbitration and mediation as one of the most powerful tools to resolve disputes. The power of mediation is understated, it has deep roots in ancient India and Indian society, he said.
The program was attended by Telangana High Court Judges, Arbitrators, Senior Advocates, Senior Business leaders from different industries, legal practitioners, and law students, who witnessed a three-panel discussion on the Relevance of mediation in Cross Border disputes, India an Emerging Hub of Institutional mediation and IAMC, Hyderabad’s Mediation Roadmap 2025.
Justice L. Nageswara Rao, the Former Judge, of the Supreme Court of India, shared with the gathering that the IAMC Hyderabad Centre has administered 33 matters since its inception, 10 matters through Arbitration and 23 matters through mediation. The value of these disputes is US$ 700 million, he said.
Justice Hima Kohli, Judge, Supreme Court of India referred to the use of ADR in ancient and medieval India as being very comprehensive and it has highlighted the importance of resolving disputes peacefully and consensually in contemporary India. During the year 2021-22, India had 53,000 cases settled through mediation. India has 464 ADR centers, 570 mediation centers, and 16,565 mediators as of 2021-22, she said.
Justice RV Raveendran, Former Judge of, the Supreme Court of India said while in mediation, parties willingly settle disputes in just days which avoids high costs. George Lim, Senior Counsel, and chairperson of Singapore International Mediation Centre said in cross-border disputes, time is important for these people and that is why mediation is taking off. (Maxim News)
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