Moily projects India as a world class arbitration centre at Singapore conference

With the large number of pending cases ailing Indian courts, Alternative Dispute Resolution (ADR) system has taken on a new importance. Despite the benefits of the ADR system, it is no secret that India needs to pull up its socks when it comes to making her a global arbitration destination. Law Minister Veerappa Moily is aiming to do just that..With the large number of pending cases ailing Indian courts, Alternative Dispute Resolution (ADR) system has taken on a new importance. Despite the benefits of the ADR system, it is no secret that India needs to pull up its socks when it comes to making her a global arbitration destination. Law Minister Veerappa Moily (pictured) is aiming to do just that..Speaking at a conference organized by the Singapore International Arbitration Centre (SIAC) in association with the Confederation of Indian Industry titled; India: Prime Global Business Destination – An Arbitral Perspective on September 8, 2010 in Singapore, the Law Minister acted as the keynote speaker..In his speech which covered the economic growth aspects of the Indian economy, the Law Minister spoke extensively on the increasing popularity of arbitration as a dispute resolution mechanism..Saying that India has a comprehensive, contemporary and progressive legal framework to support international arbitration that is on par with the best in the world, Moily expressed the positive aspects of Indian judiciary that supported arbitration..Moily also underlined the advanced Indian judicial system which has adopted the UNCITRAL Rules of Arbitration as well as being a party to the New York Convention which allows enforcement of arbitral awards by the courts in almost any country of the world..The Law Minister also spoke on the need to improve and further promote the ADR system in India. To encourage specialized study and research in the field of arbitration, Moily proposed the creation of a separate department for arbitration and a dedicated faculty in Indian universities..Moily also harped on a need to change the general attitude of judges, lawyers and arbitrators towards arbitration. He said a special focus is needed to decrease the interventionist attitude of Indian courts which is a direct defiance of the Arbitration and Conciliation Act, 1996..Moily who was in Singapore for a 2 day visit to study the SIAC also visited the Law Society and the Singapore Management University’s Law School and met Chief Justice Chan Sek Keong as well..The conference also saw the attendance of other members of the Indian legal community like Managing Partner of AMSS, Shardul Shroff and Senior Partner Economic Laws Practice, Vikram Nankani.