IAMC, Hyderabad signs MoU with the General Counsels’ Association of India (GCAI)
(Left to right- Mr. CV Raghu, President, General Counsels’ Association of India; Ms. Shukla Wassan, Vice President, General Counsels’ Association of India; Mr. Tariq Khan, Registrar, International Arbitration and Mediation Centre, Hyderabad)
On 2 August 2024, the General Counsels’ Association of India (“GCAI”) signed a Memorandum of Understanding with the International Arbitration and Mediation Centre, Hyderabad (“IAMC”) to boost arbitration and mediation as a means of dispute resolution. In an innovative move that is the very first of its kind, GCAI has come together with IAMC to contribute to the cause of commercial disputes.
The MoU signing took place as part of a roundtable hosted by Unum Law, Gibson Dunn, and the Secretariat, and was graced by Hon’ble Justice Hima Kohli, Judge of the Supreme Court of India, as the Chief Guest, as well as leading general counsel across the country.
In her keynote address, Justice Kohli highlighted that mediation is a very powerful tool and a reliable partner to boost arbitration. Noting the role of General Counsels in this regard, she stated: “General Counsels are key to fostering a culture of effective arbitration within businesses. By advocating for better arbitration clauses, ensuring quality appointments, promoting institutional arbitration, and introducing innovative approaches, they can significantly enhance the arbitration process. Furthermore, General Counsels play a vital role in promoting arbitration as a cost-effective, time-saving, and flexible alternative to litigation. This not only helps in resolving disputes more efficiently but also reinforces the business’s commitment to fair and effective dispute resolution.”
Mr. CV Raghu, President of GCAI, and Ms. Shukla Wassan, Vice President of GCAI, also echoed the sentiment that General Counsels could play a big role in encouraging mediation, which is an equally important mode of dispute resolution.
On signing the MoU, Tariq Khan, Registrar of IAMC, said, “General Counsels bring a wealth of experience and practical knowledge that can significantly enhance the efficiency and fairness of dispute resolution. It is time to consider appointing General Counsels as arbitrators and mediators, leveraging their domain expertise.”
The MoU signing was followed by a roundtable discussion on recent developments in arbitration law and ease of doing business in India. The panel comprised Dr. Sanjeev Gemawat, Founding Member of GCAI and Group General Counsel, Vedanta Ltd.; Ms. Priya Mehra Dewan, Chief of Governance and Strategic Acquisitions, Akasa Air; Mr. Paul Tan, Partner, Gibson Dunn; Mr. Chaitanya Arora, Managing Director, Secretariat; and Ms. Anushka Shah, Partner, Unum Law.