“This Century Will Define India's Ascent As A Global Arbitration Leader” Justice Hima Kohli At The India-MENA Arbitration Summit

Tariq Khan, Registrar of IAMC Hyderabad delivered the welcome address, highlighting the key achievements by IAMC since its inception in December, 2021.

Justice Hima Kohli, Judge, Supreme Court of India, was the Chief Guest and highlighted that the India-MENA Arbitration Summit has been organised by IAMC to bring global experts from India and the Middle East and North Africa Region to bolster arbitration in the international legal paradigm. In her keynote address during the Inaugural Session, she said, “India's dynamic economic and legal progress, in synergy with the MENA region, positions it as an emerging leader in global dispute resolution. This century will define India's ascent as a global arbitration leader, particularly in collaboration with the MENA region in the international legal arena.”

Justice Kohli further stated that through amendments and reforms, the legal regime in India has kept pace with the ever-evolving business community and India is all set to embrace unprecedented economic and business growth. To foster the growth of business relations between the India and the MENA region, she further stated that “The added benefit of geographical and cultural proximity between India and MENA simplifies access to local legal expertise and imbues the arbitration process with invaluable region-specific insights. The shared heritage between India and the MENA countries bolsters communication and mutual understanding, significantly enhancing the prospects for effective dispute resolution. These factors collectively amplify India's central role on the global arbitration stage, reflecting its burgeoning economic and legal stature.”

Justice Kohli emphasised on the judiciary's unwavering support in the growth of arbitration in the country and stated that “…It is imperative to recognise that the essence of justice lies not only in honouring and enforcing arbitral awards but also in safeguarding the interest of fairness and equity. It must be underscored that judicial intervention on grounds of patent illegality or public policy ought to be an exceptional measure to be deployed sparingly and with utmost caution. The Indian judiciary, guided by the principles of minimal interference, exercises prudence and restraint in interfering with arbitral awards…Achieving an equitably diversified and globally attuned arbitration framework demands the fusion of ancient wisdom with contemporary advancements and the constant pursuit of impartiality, innovation and broad consensus.”

Justice Kohli concluded her address by highlighting that “As India positions itself at the forefront of international dispute resolution, the collaborative India-MENA corridor initiative has not only the potential to yield bilateral benefits, but also to significantly raise the bar for international arbitration globally.”

Justice Alok Aradhe, Chief Justice of High Court for the State of Telangana, addressing the gathering stated that there is a statutory duty upon the judiciary to identify cases which are fit for resolution through alternative means and that it is imperative for the courts to ensure the sanctity of the arbitration process and respect party autonomy in the arbitral process.

Justice L. Nageswara Rao, Former Judge, Supreme Court of India, and Justice RV Raveendran, Former Judge, Supreme Court of India were also present during the Inaugural Session. They encouraged the institutionalisation of arbitration which would help in bringing in the required professionalism and efficiency into the process and substantially reduce costs and delay in arbitration.

Jehad Kazim, Executive Director of the Dubai International Arbitration Centre (DIAC), remarked during the Inaugural Session that UAE's investment in India reflects the deep ties between the two regions. She encouraged the gathering to use the Summit as a platform to harbour solutions that addresses the challenges for a sustainable future for arbitration and foster the growth of arbitration in India and UAE.

The first session of the India-MENA Arbitration Summit 2024 began with a Fireside Chat on “Enforcement of Arbitral Awards in India and the MENA Region.” Anirudh Krishnan, Founding Partner, AK Law Chambers, moderated the session and set the stage for a general discussion on the landscape of Enforcement of Foreign Awards in India followed by an in-depth discussion on the Enforcement of UAE seated Arbitral Awards in India.

Dr. Mahmood Hussain, Founding Partner, M&CO Legal, explained the process of arbitral awards in the UAE. He emphasised that there is no point of having an award if it cannot be enforced. The issue with enforcement majorly arises because domestic and transnational public policies are not differentiated which affects the parties and hampers swift enforcement of arbitral awards.

The esteemed panellists who shared their views during the Fireside Chat included Satvik Varma, Senior Advocate, Supreme Court of India; Krishna Grandhi, Senior Advocate, High Court for the State of Telangana; and Sundari R. Pisupati, Co-Managing Partner, Tempus Law Associates.

Session powered by Abu Dhabi Global Market (ADGM) - “Shifting Sands from the Far Middle-East to the Middle East and Beyond”

The second session witnessed an insightful discussion on “Shifting Sands from the Far Middle-East to the Middle East and Beyond.” Dilip Massand, Co-Founder & Chief Executive Officer of Phoenix Advisors Ltd. moderated the session and recognised that the India and UAE region would soon be a conduit of business investment and exchange of ideas

Linda Fitz-Alan, Registrar, Abu Dhabi Global Market (ADGM) motivated the gathering to wake up and realise that arbitration is the need of the hour and that globally the dispute resolution mechanism has transitioned to be more client-centric which are encompassed by efficiency, transparency, expeditiousness which are now non-negotiable elements in ensuring a thriving and successful trajectory for arbitration.

The other speakers in the panel discussion comprised of Shaneen Parikh, Partner, Cyril Amarchand Mangaldas; Vivek Kapoor, Barrister & Arbitrator, 39 Essex Chambers; and Arno Janssens, Counsel, Abu Dhabi International Arbitration Centre (arbitrateAD).

Session Powered by Osborne Partners – Challenges Faced in Cross Border M&A Transactions in the MENA Region

Day 1 of the Summit concluded with a discussion on “Challenges Faced in Cross Border M&A Transactions in the MENA Region.” which was moderated by Arun Visweswaran, Partner, Addleshaw Goddard, the discussion covered the genesis of M&A disputes, jurisdictional options, the nature of disputes that arise in M&A, and the emerging trends in the field.

The esteemed speakers for this Session included Paul Tan, Partner, Gibson, Dunn & Crutcher; Lomesh Kiran Nidumuri, Partner, Cyril Amarchand Mangaldas; Montek Mayal, Partner and Practice Head - Asia & the Middle East, Osborne Partners Ltd; and Raj Panchmatia, Partner, Khaitan & Co.

Session by The Dubai International Arbitration Centre

Day 2 of the IAMC India-MENA Arbitration Summit started with a panel discussion on “Enforcing Justice: DIAC as the Pinnacle for Indian Arbitrations in MENA.” Arun Visweswaran, Partner, Addleshaw Goddard, moderated the session and stated that the new DIAC Rules are in compliance with international best standards. He further clarified that the DIFC and ADGM are seats of arbitration while DIAC is an Arbitral Institution.

This Session witnessed a discussion between Jehad Abdulrazzaq Kazim, Executive Director, Dubai International Arbitration Centre; Aarti Thadani, Partner, Norton Rose Fulbright; Hari Krishna, CEO, Nimble Legal; and Shreyas Jayasimha, Co-Founder Partner, Aarna Law (India) and Simha Law (Singapore).

Session powered by Cyril Amarchand Mangaldas & Co - Opportunities & Challenges in the India-UAE Bilateral Investment Treaty

The Panel Discussion on “Opportunities & Challenges in the India-UAE Bilateral Investment Treaty was moderated by Khushboo Shahdadpuri, Senior Counsel, Al Tamimi & Co., who set the tone for the session.

Fatima Balfaqeeh, Managing Partner, Balfaqeeh Advocates & Legal Consultants highlighted that India has recently signed both BIT and Comprehensive Economic Partnership Agreement with the UAE which would lead to the strengthening of the investment partnership between both the regions. She also stated that though the track record of settlement of investment disputes between India and UAE is good, though India not being a signatory to the ICSID may be a challenge in arbitrating investment disputes.

The other panel members in this Session included Vikram Pooserla, Senior Advocate, High Court for the State of Telangana; Gauhar Mirza, Partner, Cyril Amarchand Mangaldas; and Arjun Doshi, Head - Litigation, Adani Ports and SEZ.

[Session powered by 39 Essex Chambers – Fireside chat on Bridging the Gap: What Arbitration in Hyderabad Needs]

The Day 2 of the Summit was concluded with a Fireside Chat Session on “Bridging the Gap: What Arbitration in Hyderabad Needs.” Sitesh Mukherjee, Senior Advocate, Supreme Court of India and Honorary CEO of IAMC Hyderabad, while moderating the session, remarked, “We need to reform our domestic arbitral system.”

Justice L. Nageswara Rao, Former Judge, Supreme Court of India emphasised that only retired judges should not be appointed as arbitrators and that mindset needs a change. To foster a culture of arbitration in India, arbitral institutions should be approached where one has access to a panel of arbitrators and centre would aid in the administration of the cases, and an award passed will not have a problem with regards to merits.

Justice P. Naveen Rao, Former Judge, High Court for the State of Telangana shared his experiences regarding the utilising IAMC's facilities and praised the conducive ambience at IAMC, and commented that the hearings were conducted seamlessly due to its elaborate infrastructure, top-notch technical and administrative support which were made available to him and the disputing parties. He further mentioned that IAMC in Hyderabad deserves more recognition than what it is currently receiving as a suitable institution for dispute resolution.

The other speakers for the session included K. Vivek Reddy, Senior Advocate at the High Court for the State of Telangana and Vivek Kapoor, Barrister & Arbitrator, 39 Essex Chambers.

The Summit's Valedictory Ceremony was graced by Justice P. Sam Koshy, Judge, High Court for the State of Telangana. Justice Koshy in his address remarked that India has recently become an attractive destination for foreign investments, and it would lead to an increase in the number of disputes where arbitration comes into play outside the traditional court system offering a platform for fair and efficient dispute resolution. The vote of thanks was presented by Purnima Kamble, Partner at Fox Mandal & Associates in Hyderabad.