The Supreme Court recently referred two cases to the Mumbai Centre for International Arbitration (MCIA) for arbitration. Former Chief Justice of India (CJI), Ranjan Gogoi was appointed the sole arbitrator in one of those cases. .Two orders to this effect were passed with the consent of all parties last Monday by a Bench of Justices Indu Malhotra and Ajay Rastogi in the cases of Grasim Industries Ltd. v. Visa Resources PTE Ltd. and MCM Service Private Limited v. Ithalia Thai Development Public Company Limited..Justice Gogoi was appointed sole arbitrator in the MCM case. ."By consent of the parties, we appoint Shri Ranjan Gogoi, former Chief Justice of India, as the Sole Arbitrator to resolve the disputes arising out of the Contract Agreement," the order said..The arbitral proceedings will be conducted by MCIA with the seat of the arbitration at New Delhi and the fees of the arbitrator shall be borne equally by the parties, the Court added. .In the Grasim Industries case, Senior Advocate Sharan Jagtiani was appointed the sole arbitrator, and the arbitration has been directed to be conducted at the MCIA's seat in Mumbai.."These orders are a sign of the Supreme Court reposing faith not just in the MCIA but also in institutional arbitration in India. We are truly grateful to the Supreme Court for continuously pushing for India to become a favourable jurisdiction for arbitration," Madhukeshwar Desai, founder and chief executive officer of MCIA told Bar & Bench. .[Read Orders]
The Supreme Court recently referred two cases to the Mumbai Centre for International Arbitration (MCIA) for arbitration. Former Chief Justice of India (CJI), Ranjan Gogoi was appointed the sole arbitrator in one of those cases. .Two orders to this effect were passed with the consent of all parties last Monday by a Bench of Justices Indu Malhotra and Ajay Rastogi in the cases of Grasim Industries Ltd. v. Visa Resources PTE Ltd. and MCM Service Private Limited v. Ithalia Thai Development Public Company Limited..Justice Gogoi was appointed sole arbitrator in the MCM case. ."By consent of the parties, we appoint Shri Ranjan Gogoi, former Chief Justice of India, as the Sole Arbitrator to resolve the disputes arising out of the Contract Agreement," the order said..The arbitral proceedings will be conducted by MCIA with the seat of the arbitration at New Delhi and the fees of the arbitrator shall be borne equally by the parties, the Court added. .In the Grasim Industries case, Senior Advocate Sharan Jagtiani was appointed the sole arbitrator, and the arbitration has been directed to be conducted at the MCIA's seat in Mumbai.."These orders are a sign of the Supreme Court reposing faith not just in the MCIA but also in institutional arbitration in India. We are truly grateful to the Supreme Court for continuously pushing for India to become a favourable jurisdiction for arbitration," Madhukeshwar Desai, founder and chief executive officer of MCIA told Bar & Bench. .[Read Orders]