International Arbitration Centre
Hemant Gupta appointed New Delhi International Arbitration Centre chairman
Former Supreme Court judge Hemant Gupta has been appointed as the chairperson of New Delhi International Arbitration Centre (NDIAC), according to a Personnel Ministry order. The NDIAC has been established for the purpose of creating an independent and autonomous regime for institutionalised arbitration. The Appointments Committee of the Cabinet has approved the appointment of Justice Hemant Gupta (R) as NDIAC chairperson and that of Ganesh Chandru and Anant Vijay Palli as its part-time members, the order said.
 "Hemant Gupta appointed New Delhi International Arbitration Centre chairman")
Parliament passes bill to rename New Delhi International Arbitration Centre
Parliament on Wednesday passed a bill to rename the New Delhi International Arbitration Centre as the India International Arbitration Centre. The Rajya Sabha passed the New Delhi International Arbitration Centre (Amendment) Bill, 2022, which was piloted by Union Law Minister Kiren Rijiju in the house on Wednesday. The Lok Sabha has already passed the bill on August 2022, which expands this to include the conduct of other forms of alternative dispute resolution besides arbitration. While replying to the debate, Rijiju in the Upper House said this bill will help India emerge as an attractive destination for arbitration at the global level. "India is still not a hub for arbitration, while small countries and cities have emerged as major centres for arbitration," the minister said. He assured the members saying that with the steps being taken by the Modi government, India would emerge as an arbitration centre in the coming years. "This amendment has been brought with that approach,"
 "Parliament passes bill to rename New Delhi International Arbitration Centre")
Dollar-rupee forward premia lowest since 2011 as US-India rate gap shrinks
Indian currency's recovery since US CPI leads to reversal of onshore-offshore arbitrage
 "Dollar-rupee forward premia lowest since 2011 as US-India rate gap shrinks")
SC notice to Future Group on Amazon plea against stay on int'l arbitration
The matter, adjourned till Feb 23, was heard by CJI N V Ramana, two other judges; SC had on Tuesday rejected Amazon' petition to file a seven-page written submission
 "SC notice to Future Group on Amazon plea against stay on int'l arbitration")
Budget 2022: Int'l Arbitration centre at GIFT City for dispute resolution
Market participants say move would ensure fast disposal of cases and will attract investors and enhance ease of doing business
 "Budget 2022: Int'l Arbitration centre at GIFT City for dispute resolution")
IFSCA in process to set up International Arbitration Centre in GIFT IFSC
The International Financial Services Centres Authority (IFSCA) is in the process of setting up an International Arbitration Centre in the GIFT IFSC for speedy resolution of any dispute
 "IFSCA in process to set up International Arbitration Centre in GIFT IFSC")
India challenges $1.2 bn Cairn award, says never agreed on tax arbitration
India had seized and sold shares of Cairn in its erstwhile India unit, confiscated dividend due and withheld tax refunds to recover the tax demand it had levied two years after passing a law in 2012
 "India challenges $1.2 bn Cairn award, says never agreed on tax arbitration")
Tripping up on arbitration
Cairn Energy has wrong-footed the government
 "Tripping up on arbitration")
Seizing Indian assets won't be easy for Cairn Energy, say experts
Experts say enforcement of the award will face a passive hurdle in Article V of the NY Convention
 "Seizing Indian assets won't be easy for Cairn Energy, say experts")
Decoded: Stopping Future's asset sale to Reliance may not be easy
In its petition, Amazon is said to have sought imprisonment of Future group promoters including Kishore Biyani for alleged violation of securities market rules
 "Decoded: Stopping Future's asset sale to Reliance may not be easy")
Amazon urges Sebi to suspend review of $3.4 billion Future-RIL deal
Amazon also urged Sebi about not granting any no-objection in relation to the same and directing the Indian Stock Exchanges not to issue any no-objection/approval letter to Future Retail
 "Amazon urges Sebi to suspend review of $3.4 billion Future-RIL deal")
Vodafone retro tax: India challenges arbitration ruling in Singapore
India has faced a string of arbitrations by investors including Deutsche Telekom, Nissan Motor Co, Vodafone and Cairn Energy over issues ranging from retrospective taxation to payment-related disputes
 "Vodafone retro tax: India challenges arbitration ruling in Singapore")
India loses Cairn case in arbitration; asked to pay Rs 8,842 cr in damages
This is the second setback for Indian government related to retrospective taxation after it lost the arbitration case against Vodafone three months ago
 "India loses Cairn case in arbitration; asked to pay Rs 8,842 cr in damages")
Jammu and Kashmir LG Manoj Sinha kicks off International Arbitration Centre
Lieutenant Governor Manoj Sinha said the launch puts the union territory on the commercial arbitration map of the world
 "Jammu and Kashmir LG Manoj Sinha kicks off International Arbitration Centre")
Vodafone case has cost India a lot. It is time to accept defeat and move on
It cost us more in prestige than we could hope to win and this award ends a decade-old saga that tarnished India's reputation among foreign investors
 "Vodafone case has cost India a lot. It is time to accept defeat and move on")
Centre to contest Vodafone arbitration award, reach out to global funds
The finance ministry is certain that whenever the company approaches an Indian court with a request for the enforcement of the award, it shall be opposed
 "Centre to contest Vodafone arbitration award, reach out to global funds")
India's maiden International Arbitration Centre to open in Mumbai tomorrow
The new centre will hear cases of major international companies, and their grievances
 "India's maiden International Arbitration Centre to open in Mumbai tomorrow")
