On 17 March 2023, FICL hosted "FICL Discourse" on the topic “Issues In Institutional Domestic/International Commercial Arbitration” The Guest of Honour was Justice Hemant Gupta, Former Judge, Supreme Court Of India Chairperson, India International Arbitration Centre, New Delhi.
Justice Hemant Gupta shared his valuable insights and contributions on the contemporary topic The Special Address was given by Shri PK Malhotra, Former Law Secretary & & Patron of FICL. FICL also felicitated farewell for Mr AK Sinha, Ex ED (LAW) SAIL who had recently who has recently superannuated.
FICL Discourse was attended by 30+ Senior General Counsels/In-House Lawyers from SAIL, AG&P, GAIL India, NTPC, Power Grid, BHEL, Indian Oil, HT Media, etc and other stakeholders from India during his official visit to Delhi, India.
The Event Partner for FICL Discourse was AG&P pratham.
About AG&P
AG&P is a Singapore headquartered company and is the largest Foreign Direct Investment (FDI) for a greenfield city gas project. AG&P supplies natural gas to 33 districts across five states— Rajasthan, Kerala, Tamil Nadu, Andhra Pradesh, and Karnataka.
It holds 12 City Gas Distribution (CGD) licenses, awarded by the Petroleum & Natural Gas Regulatory Board (PNGRB) to exclusively supply Piped Natural Gas (PNG) to households, commercial businesses, and industries; and Compressed Natural Gas (CNG) for use in vehicles.
With CGD network spanning about 2,78,000 square kilometres, AG&P Pratham is set to add 17,000 inch-km of pipeline and over 1,500 new CNG stations over the next 8 years.
Welcome Address was delivered by Dr Ashok Sharma, Founder & CEO of FICL who took the opportunity to express his sincere gratitude towards Justice Hemant Gupta, Shri PK Malhotra and Mr AK Sinha for taking time out from their busy schedule to preside over the FICL Discourse.
Justice Hemant Gupta was felicitated by Shri MM Sharma (STC).
Shri PK Malhotra was felicitated by Dr. S.B Mitra, Hon. President FICL.
Mr AK Sinha was felicitated by Mr Susheel Jad, Sr. VP AG&P.
Dr. S.B Mitra, Hon. President FICL introduced the Discourse Topic and shared his insights on the Issues faced by Public Sector Undertakings in Domestic and International Commercial Arbitration.
Shri PK Malhotra, Former Law Secretary, Govt of India addressed the gathering he shared his insights about the pathbreaking amendments made in the Arbitration & Conciliation Act such as the Time period for arbitral awards, Schedule of Fees for the Arbitral Tribunal, Amendment to Section 12 to ensure the neutrality of arbitrators, Time period for disposal of cases by a Court, Amendment of Section 34 (Limiting the gamut of Public Policy of India), etc.
Justice Hemant Gupta, Former Judge, Supreme Court Of India Chairperson, India International Arbitration Centre, New Delhi addressed the gathering he enlighten the Vision & Mission of India International Arbitration Centre, New Delhi. He said that currently there are around 35 arbitral institutions operating in India, and his role as a Chairperson is to carve a niche and make India International Arbitration Centre, New Delhi one of the premier arbitral institutions.
He further explained the difference and the importance to distinguish between a "Seat" and "Venue" of arbitration and how it can have a deepening impact on even the commencement of the arbitration.
He addressed the key differences between ad-hoc and institutional arbitration and how the Public Sector Undertaking enterprises should draft their dispute resolution clauses with the foresight to mitigate the hindrances in the commencement and effective running of arbitral hearings.
Justice MN Gupta shared his insights into his cases relating to arbitration, where either party was a Public Sector Undertaking or Central/State government. He stressed the adoption of an Arbitral Institutional as opposed to ad-hoc arbitration. He further called for suggestions on the aspect that
Should Arbitrator and Arbitral Tribunal fees be capped or ad-valorem in relation to the claim amount?.
Thereafter, Mr AK Sinha Ex ED (LAW) SAIL thanked FICL for honouring him. He remembered his time at SAIL and how the Legal Department dealt with the problems emanating from alternative dispute resolution. He also stresses about the need to change the current mindset regarding institutional arbitration. He shared his experiences at SAIL and how disputes were effectively resolved through alternative dispute resolution.
After the opening address, the floor was opened for roundtable discussions, where GCs shared their insights, experiences and teething troubles relating to alternative dispute resolution. The vibrant discussions continued over drinks and dinner between Justice Hemant Gupta, Shri PK Malhotra, Former Law Secretary & & Patron FICL, Mr AK Sinha, Ex ED (LAW) SAIL and GCs and other stakeholders present.
Some glimpses from the FICL Discourse-Issues In Institutional Domestic/International Commercial Arbitration.
