Union Law Minister inaugurates J&K Int’l Arbitration Centre at Srinagar

Srinagar: Union Minister for Law and Justice, KirenRijiju Thursday inaugurated the new premises of the J&K International Arbitration Centre (JKIAC) in the Old Sadder Court Complex, LalChowk, here.
Chief Justice, High Court of J&K and Ladakh and Patron-in-Chief, JKIAC, Justice PankajMithal; Justice Ali Mohammad Magrey, Justice Sanjeev Kumar, Justice Sindhu Sharma, Justice Sanjay Dhar, Justice Puneet Gupta, Justice Javed Iqbal Wani, Justice Mohammad AkramChowdhary, Justice Moksha KhajuriaKazmi, former judges of the High Court of J&K and Ladakh, Advocate General, D.C. Raina and the members of the Arbitration Committee of the JKIAC graced the occasion.
Besides, officers from High Court Registry and District Judiciary, Advocates, empanelled Arbitrators and officers of the Civil Administration were also present on the occasion.
On arrival at the venue, the Law Minister was welcomed by the Chief Justice, members of the Arbitration Committee of the JKIAC and Judges of the High Court, who took him around the premises to have first-hand information of the facilities and other infrastructures created in the centre to make it fully functional.
Union Minister while speaking on the occasion complimented the High Court of Jammu & Kashmir and Ladakh for establishing an institution of contemporary importance. He underlined the importance of arbitration in commercial transactions especially international ones in view of the rising economy of the country. He said that arbitration is a very important tool for improvement in ease of doing business.
KirenRijiju further said that arbitration and mediation can provide better quality justice because the courts are already overburdened with cases. He assured the participants that the Union Government shall provide all possible help and make all the resources available to the judiciary in J&K to improve the infrastructure as well as the manpower. He further appreciated the judicial fraternity for making tireless efforts in dispensation of justice.
The minister congratulated the Chief Justice, Chairperson and members of the JKIAC for their efforts in getting the old building beautifully renovated and made functional in a short span of time for ensuring the functioning of the centre in a true sense.
Justice PankajMithal, Chief Justice, High Court of J&K and Ladakh, in his address touched upon the importance of the ADRs including arbitration in tackling the rising litigation in the country. He underscored the need of such institutions to ensure speedy and accessible justice not only to the citizens of the country but also to the corporate world. He further said that the arbitration does not require long procedures for the decisions to be made. “It is cost efficient, time saving and permits having the arbitrators of their choice”, he said.
Justice Sindhu Sharma, Chairperson JKIAC in her brief address tracked the history of arbitration in India and emphasised that the country needs to have arbitrators not only for the arbitration centres but also at domestic and community level to sort out the disputes arising at those levels.
Rajeev Gupta, the Incharge Coordinator of the JKIAC in his presentation gave an overview of the structure and hierarchy of the JKIAC and also highlighted the pattern of governance and administration.