BCI Rules allowing entry of foreign law firms has opened new doors for young talent: Justice Hima Kohli

Supreme Court Judge Justice Hima Kohli said on June 7 that the decision of the Bar Council of India (BCI) giving entry to foreign lawyers and law firms to practice in India on a reciprocal basis has opened new doors and created opportunities for young talent in India. .The Supreme Court judge added that it also allows Indian law firms to learn and adopt global best practices to remain relevant. "With the largest number of English-speaking, common law-educated lawyers worldwide, India is indeed an attractive destination for legal professionals and businesses," she said..She was speaking on the occasion of the India Disputes Resolution Forum- Second Edition organised by Thought Leaders4 Disputes at the Taj Hotel in London..The judge also shed light on the need for gender-based diversity in arbitrators for promoting inclusivity and fairness in the field of dispute resolution.She discussed ways to promote gender diversity including enhancing of education and training and revising institutional arbitration rules to make the appointment of diverse arbitrators a standard practice in the selection process. "It is our responsibility as individuals and representatives of our organisations and institutions to work towards this goal," she said. .Speaking on the issue of judicial intervention in arbitral awards as well as balancing justice and finality, Justice Kohli underscored that in the pursuit of upholding principles of finality and a pro-enforcement approach, it is imperative to recognise that the essence of justice lies not only in honouring arbitral awards, but also in safeguarding the interest of fairness and equity. "As the landscape of arbitration has been evolving and new challenges are emerging, our judiciary has also adapted and responded to the changing need of the hour and refining the contours of judicial intervention by keeping interference to the minimum," she added. .The Forum also saw a debate on ‘Can India become a hub of institutional arbitration’ during the final session. .The session was chaired by Former Supreme Court Judge Justice Hemant Gupta and the speakers included Senior Advocate Gopal Subramanium, IAMC Hyderabad Registrar Tariq Khan, Taylor Wessing Partner Laurence Lieberman, and Fox & Mandal Joint Managing Partner Kunal Vajani..Justice Hemant Gupta said that India is taking steps towards the right direction but to make India a hub of arbitration, we will have to make concerted efforts to shift towards institutional arbitration. .Senior Counsel Gopal Subramanium pointed out that there has to be a ‘start-to-finish’ model chalked out which lawyers and judiciary will be committed to follow. He highlighted in his speech that “courts are meant to facilitate arbitration and not impede arbitration.” Interference by courts should be considered as an exception and should not be confused with the judicial review. .Tariq Khan opined that it has become a trend to criticise Indian arbitration in international conferences. He said that it is unfair to compare young arbitral institutions in India with institutions that have been in the industry for decades. He also said that the Indian government and the judiciary have done excellent work for fostering the culture of arbitration in India in the last decade. .Laurence Lieberman said that when India thinks of doing something, it usually accomplishes it. Keeping in mind that each jurisdiction has its own quirks, India needs to focus on three main aspects - familiarity, consistency of delivering the outcome and speed..Sharing his experience, Kunal Vajani highlighted that while every year India takes two steps forward it is pushed five steps backwards. India needs to develop a common thought process for a robust ecosystem of institutional arbitration in the international diaspora..The debate ended on a positive note with a take-home message for the arbitration fraternity highlighting that this will be a continuous learning process for both the arbitration practitioners and the arbitrators as ‘ad-hocism’ needs to end..There was also a session on Discussing India’s Growth as a Hub for Arbitration.The session considered issues such as whether London was losing out on Indian arbitrations to other seats, the enforcement of arbitration in India, how friendly the courts are, and preferred characteristics of international seats for India related disputes. The speakers for this session were Senior Advocate Promod Nair, Anagram Partners Partner Rohan Batra, Laware Associates Partner Rajat Malhotra, Khaitan & Co Partner Kingshuk Banerjee, and ICA Director General Arun Chawla..A Fireside was conducted on the topic, The Judges’ Perspectives on the Future Direction of Indian Courts between High Court of England and Wales' Justice Knowles and Justice Hima Kohli. .Director Greyhawk Steven Haynes spoke on the subject, Where is the Money? Finding Assets to Enforce Judgements and Awards..A session on Reviewing Indian Insolvency and the Cross Border Perspective, the speakers discussed cross border insolvency, insolvency in an Indian context, and how the regime plays out in cross border matters.The speakers for the session were Senior Advocate Vikram Pooserla, Senior Advocate Ritin Rai, and Senior Advocate Arvind Nayar..The second day saw a session on analysing the Growth of Commercial Dispute Resolution in India which discussed judicial trends in commercial disputes matters in the last 2 year.The speakers were advocate Ankur Khandelwal, SDS Advocates Managing Partner and Arbitrator Subir Kumar, Head of International Arbitration Partner Nick Peacock, Penningtons Law Partner Phillip D’Costa, and Shardul Amarchand Mangaldas Partner Tejas Karia.