CJI NV Ramana makes a pitch for international arbitration centre in Hyderabad

HYDERABAD: Hyderabad may soon become the second city in the Asian subcontinent after Singapore to have an international arbitration centre if Chief Jusice of India NV Ramana succeeds in his efforts.
During an informal chat with reporters at the Raj Bhavan on Tuesday, the CJI said, “Unless we set up such an international facility, we cannot inspire confidence in the minds of foreign investors who are wary about coming to India to invest.”
Chief Justice Ramana said there could be several positives that drive foreign investors towards Indian shores, but the huge pendency in Indian courts and uncertainty over the prospects of getting disputes resolved quickly is a huge drawback.
“We have a large number of cases here related to pharma and information technology companies. Most of the MNCs are now forced to go to Singapore and other countries that have international arbitration centres. Having such a facility in our vicinity would be a distinct advantage for us and heralding such an era in our area is my dream,” he said.
‘Singapore’s CJ happy to help’
The CJI said a majority of MNCs and big contractors prefer Singapore for arbitration because such a facility is already existing there. “I have spoken to the Singapore Supreme Court Chief Justice, who happens to be a person of Indian origin. I have requested him to help us set up such a facility here. He is more than happy to help us,” he said.
Justice Ramana further said, “I also spoke to Telangana chief minister K Chandrasekhar Rao with a request to allot land and build a state-of-theart facility here. He too responded positively.”
The state has to bring in certain legislative amendments to the existing laws that make it difficult for litigants to approach other fora of justice after attaining a finality in an international arbitration centre, he said.
The CJI also spoke about the need to bring in digital reforms in the judiciary to take it closer to the people and also to deliver speedy justice. “One such reform would soon become a reality,” he said, hinting at uploading of the judgments of the district courts immediately after their pronouncement.
Availability of such copies would be deemed to have been served to the parties and this would reduce the delays caused by non-availability of the copies of pronounced orders, the CJI said. He also said that such a facility is available in the Supreme Court and high courts too would follow suit soon.