The Chairperson of IIAC, retired Justice Hemant Gupta said that although the India International Arbitration Centre (IIAC) has support from government, it does not run at the whims and fancies of the Central government.
Justice Gupta assured many of the prominent law firms that even though IIAC is funded by the Central government, it will function without interference.
The IIAC Chairman said that the Government support is one thing and having an overbearing effect is another… SIAC [Singapore International Arbitration Centre] was also created as an Act of government… As far as our Centre is concerned, the three appointments have the similar procedure as Supreme Court judges. We don’t work at the whims and fancies of the government.
While addressing the representatives of several law firms attending the ‘Indian Arbitration Leadership Roundtable’ organised by the IIAC.
The IIAC Chairperson said that they are making efforts to “design the IIAC as a hub for international arbitration and high-value domestic arbitrations on par and even beyond existing institutions of international repute”.
The law firms pitched in with their ideas about some of the best practices adopted across the world. However, the major concern many of them raised was government interference.
One of the representatives said that when he informed his foreign clients about the IIAC, their very first concern was that the Centre’s members are directly or indirectly appointed by the government which even has the power to remove them.
Another representative said that a major share of arbitration in India is between private firms and Public Sector Undertakings (PSUs).
In such cases, how certain we can be that the government will not try to influence the arbitrators, one of the participants asked.
Justice Gupta responded that the Centre’s work will speak for itself. He said that the Central government does provide funds for the IIAC because, at present, the institution does not have its own funds.
The same is the case with the Supreme Court but no one can say that the Court is not independent, he stressed
Justice Gupta informed that the Section 18 of the India International Arbitration Centre Act does empower the government to remove the IIAC members but that process is like impeachment of a judge of the Supreme Court.
Justice Gupta also stressed that the Centre will have to try to conclude the arbitration proceedings in a timely manner and technology will play a major role in it.
He said that the parties can conduct the proceedings through video conference and the proceedings as well as the documents would be encrypted.
Justice Gupta further said that they have held meetings with government authorities so that the government adopts the IIAC for its arbitration proceedings.
The post Chairperson of India International Arbitration Centre states how they do not function at whims and fancies of Central government appeared first on India Legal.
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