Lieutenant Governor Of J&K Inaugurates J&K International Arbitration Centre At Srinagar

The Jammu and Kashmir High Court had accorded approval to set up JKIAC last month and an "Arbitration Committee" for the same has been constituted.

During his special address, the LG observed that the establishment of an International Arbitration Centre in Jammu and Kashmir has secured its place in the commercial arbitration map of the world.

He said that the move will help J&K to promote domestic & international investments, industry, business and trade. He said that the setting up of the Centre is in line with requirements of modern-day borderless trade, business and investments which cannot flourish with legal issues of jurisdictions cropping up in the event of any dispute.

He further said that this mechanism will do away with cultural and language barriers, confusion over legal language employed in different courts and delays which causes great financial and other hardships to investors.

"Our Arbitration and Conciliation Act is in line with the framework prepared by the United Nations Commission on International Trade Law. The common legal framework in line with the international requirements opens up India for foreign investments and business, he maintained. I hope that with the establishment of Jammu and Kashmir International Arbitration Centre, India would stand equal with other leaders in the field," he added.

In her keynote address, Chief Justice Gita Mittal said Arbitration can be a game changer in dispute redressal and the JKIAC has been developed to redress the disputes and ensure their speedy disposal.

Justice Sindhu Sharma, Chairperson, JKIAC, in her welcome address, highlighted the significance of establishment JKIAC.

Abdul Rashid Malik, Coordinator, Jammu & Kashmir International Arbitration Centre proposed the vote of thanks.

Advisor to the Lt Governor, Farooq Khan; Chief Secretary, BVR Subramanyam; Advocate General, D.C Raina; Divisional Commissioner Kashmir, Pandurang K. Pole; IGP Kashmir, Vijay Kumar; Secretary to Government, Law Department, Achal Sethi; Deputy Commissioner, Srinagar, Dr. Shahid Iqbal Choudhary; Members of JKIAC; Members of Legal Fraternity and other senior officers were present on the occasion.

The occasion also marks the launch of the website of J&K International Arbitration Centre.