CJI Ramana lays foundation stone for arbitration centre building in Raidurg
HYDERABAD: Chief Justice of India Justice N.V. Ramana laid the foundation stone and performed a ground-breaking ceremony of the construction of a building for the International Arbitration and Mediation Centre-Hyderabad (IAMC-H) at Raidurg in Hyderabad on Saturday.
Speaking on the occasion, Justice Ramana thanked the state government for allocating a prime plot of land in the heart of the city and providing Rs.50 crore for the construction of the building for the IAMC-Hyderabad. He said the state government had been very proactive and cooperative in setting up of the centre which he hoped would find its place alongside reputed arbitration centres in London, Singapore and others abroad.
He felt that the Hyderabad centre was attracting a 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 Globalisation’ to be held in Dubai on March 19.
"I am happy that we are moving ahead at one step at a time. On 17 and 18 of March we will be having an international conference in Dubai on behalf of Hyderabad. By hosting such conferences, we can showcase Hyderabad and by next year be on par with Dubai, London and Singapore. This project was initiated nearly two months ago and is moving fast to provide a world class facility and add glory to the city of Hyderabad," Justice Ramana added.
IAMC-Hyderabad is India’s first arbitration centre for alternative dispute resolution. It is operating from a temporary campus at Nanakramguda, following its inauguration by Justice Ramana along with Chief Minister K. Chandrashekar Rao in December last year.
Supreme Court judges Justice L. Nageswara Rao and Justice Hima Kohli, Telangana High Court Chief Justice Satish Chandra Sharma, SC former judge Justice R.V. Raveendran, ministers K.T. Rama Rao, Mohd Mahmood Ali, A. Indrakaran Reddy, Talasani Srinivas Yadav, P. Sabitha Indra Reddy and V. Srinivas Goud, along with TS 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.
