[Lalit Modi vs Bina Modi] "Done:" says Harish Salve to CJI's suggestion to hold arbitration at IAMC Hyderabad

The recently inaugurated International Arbitration and Mediation Centre (IAMC) at Hyderabad might be the venue of arbitration in the property between former Indian Premier League chairman Lalit Modi and his mother Bina Modi. .This development came about after Chief Justice to India (CJI) NV Ramana proposed that the arbitration between the two parties be held at IAMC instead of Singapore, to which Senior Advocate Harish Salve, appearing fr Lalit Modi, said that they are ready. "Why don't you consider Hyderabad? We just inaugurated (IAMC)," CJI Ramana asked. "Done," Salve replied. However, Senior Counsel Kapil Sibal appearing for Bina Modi, said that she is keen on mediation and matter should ideally go to a mediator first.He then sought an adjournment which was allowed. The matter will be heard again on December 13.The Court was hearing an appeal against a Division Bench order of Delhi High Court which had held that the suit by family members of Lalit Modi against the initiation of arbitration proceedings in Singapore by him in connection with their family property, is maintainable.The arbitration arose out of a Family Trust Deed executed at London by KK Modi as settlor/managing Trustee and Bina, Lalit, Charu and Samir as Trustees.The IAMC is spread across 16,000 sq. ft. area and is conveniently located in the financial district of Hyderabad.The Centre has four Arbitration hearing rooms, two mediation rooms, break-out & conference rooms, arbitrators retiring rooms, cafeteria etc. The Centre is also equipped to handle on-line arbitrations and mediations via high-quality video conferencing.Speaking at the curtain-raiser event of the arbitration centre on Saturday, the CJI had explained that even as there are arbitration centres in India, Indian parties that enter into international arbitration often opt for arbitration centres abroad. The setting up of the IAMC at Hyderabad will change this trend, CJI Ramana had added.“This Centre is being established with the best infrastructure and the empaneling of internationally acclaimed arbitrators and mediators. Best practices from across the world are being taken into consideration to ensure efficient functioning of the Centre and for drafting of the rules. With a global perspective and an emphasis on quality, I can assure you that it would soon be comparable to Arbitral Institutions like SIAC,” the CJI had said, expressing his certainty that the Centre will be a boon for the arbitration and mediation landscape in the country.The Centre aims to achieve the goal of ease of doing business by ensuring effective and speedy dispute-redressal mechanisms, and is equipped to provide cutting-edge, technologically-advanced arbitration and mediation services.The IAMC's operations will be managed by a Secretariat and guided by an autonomous Governing Council consisting of experts in the field of arbitration and mediation from India and abroad. The Board of Trustees comprise senior Judges, legal luminaries, a senior Minister from the Telangana government and an industry veteran.Former Supreme Court judge, Justice RV Raveendran is part of the Board of Trustees, which also comprises sitting Supreme Court Judges, Justices L Nageswara Rao and Hima Kohli, as well as the Chief Justice of the Telangana High Court, Justice Satish Chandra Sharma..[Read Order].IAMC does not want to compete with SIAC, ICC: Justice RV Raveendran on what could become the hub for ADR in South India