The foundation stone for the International Arbitration and Mediation Centre in Hyderabad was laid by Chief Justice of India N.V.Ramana on March 12.
- Proposed by the International Arbitration and Mediation Centre Trust, the facility will come up behind IKEA and in proximity to the IT hub.
- The CJI hoped the centre would emerge as an alternative to those in Dubai, London and Singapore.
What is Arbitration ?
- Arbitration is a procedure in which a dispute is submitted, by agreement of the parties, to one or more arbitrators who make a binding decision on the dispute.
- In choosing arbitration, the parties opt for a private dispute resolution procedure instead of going to court.
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