Jammu and Kashmir HC to set up an International Arbitration Centre, with offices at Srinagar and Jammu

In order to provide an institutionalised framework for the speedy and expeditious resolution of disputes through an alternate dispute resolution mechanism, the High Court of Jammu and Kashmir has obtained approval to set up an International Arbitration Center, with offices at Srinagar and Jammu. .The Jammu and Kashmir International Arbitration Centre (JKIAC) will be annexed to the High Court Benches at Srinagar and Jammu. .The JKIAC's office at Srinagar is planned to be set up in one of the buildings in the old Saddar Court Court, Complex, Lal Chowk, Srinagar. .Read the Order.Registrar General Jawad Ahmed commented, "For securing fair, speedy and inexpensive Justice to the litigants and being sensitive to the fact that the object of the Section 89, in absence of detailed modalities, has remained somewhat dormant in Jammu and Kashmir, High Court has set up these Arbitration Centers.".The High Court has also framed The Jammu and Kashmir International Arbitration Centre (JKIAC) (International Management Rules, 2020) in order to ensure that the constitution of such offices is smooth and effective, the Registrar General informed..The High Court's Chief Justice shall be the Patron-in-Chief of the JKIAC. To monitor and oversee the Centre, an Arbitration Committee is to be established..The Committee will consist of three Judges of the High Court, the Advocate General, the Assistant Solicitor General attached to the High Court and three members to be nominated by the Chief Justice, out of whom at least one shall be designated Senior Advocate, while the others may be arbitration experts. .To supervise and manage the JKIAC, a secretariat consisting of a coordinator and two additional coordinators, who shall be Members of the Judicial Service, have to be appointed by the Chief Justice. The rules further envisage the appointment of a Chief Counsel and a Deputy Counsel comprising of Advocates with experience in the field of arbitration..As per the Rules, the JKIAC has to prepare and maintain a Panel of Arbitrators, as approved by the Arbitration Committee from time to time. Their suitability shall be determined by the Arbitration Committee. The empanelled Arbitrators shall consist of Former Judges, Former Judicial Officers, Chartered Accountants, Bureaucrats, Engineers, Architects, Professors etc..For dealing with the arbitration proceedings in the Centre the Jammu and Kashmir International Arbitration Centre (Arbitration Proceedings) Rules, 2020 have been framed by the High Court. .Moreover for regulating the administrative fee of the Centre and the Arbitrator’s fee, the Jammu and Kashmir International Arbitration Centre (Administration Pass and Arbitrator’s Fee) Rules, 2020 have been framed..Speaking to Bar & Bench, Advocate Ankur Sharma, who practises in the Jammu and Kashmir High Court, said, "The Creation of an Arbitration Centre in J&K was much awaited. We are glad to have one at this stage. Arbitration Centres will further strengthen Indian Legal Order. These centres will further deepen faith of citizens in our Judicial System. It is a step ahead in making the Judicial System more responsive and more effective. We are grateful to the Hon'ble Chief Justice and other Judges of the High Court for taking this reformative measure", said Ankur Sharma, Advocate..Advocate Faheem Shokat Butt, who also practises in the High Court, said "The establishment of JKIAC will immensely provide benefits not only the Lawyers but the litigants also. Thus, the setting up of the Jammu and Kashmir International Arbitration Centre (JKIAC) at Srinagar and Jammu by the High Court under the dynamic leadership of Her Ladyship Hon'ble the Chief Justice Gita Mittal is highly appreciated to fill the much-needed lacuna in the field and development of arbitration matters in the UT of Jammu and Kashmir.".This is the first time an arbitration centre is being set up as far as the Union Territory of Jammu and Kashmir is concerned. .The first IAC in India was set up by the Maharashtra government at Mumbai in October 2016. Court-annexed Arbitration Centres are also successfully functioning at Delhi, Chandigarh, Bangalore, Chennai and Cuttack.