'Gurugram to get arbitration centre soon'

Punjab and Haryana High Court Justice A. K. Mittal on Saturday said here that Gurugram will get an International Arbitration Centre (IAC) soon.

The Punjab and Haryana High Court has recently given its consent for the country's second IAC in Gurugram to provide a platform for business houses to negotiate commercial disputes, Mittal said.

The proposal to set up the centre has been sent to the Haryana government, he said along with Justice Suryakant Sharma.

After the establishment of the centre, multinational companies can resolve their disputes in India rather than going to Singapore, Dubai or London.

He said disputes may be first taken to the centre and its verdicts can be later challenged in the courts if the petitioner is dissatisfied with the centre's decision.

Justice Mittal and Justice Sharma, who were here for the 'bhoomi poojan' ceremony of the 'Tower of Justice', said the Haryana government gave a positive response and was keen to set up the centre.

Two justice towers having eight and seven floors will be constructed here at an estimated cost of Rs 133 crore.

Last year, Maharashtra Chief Minister Devendra Fadnavis inaugurated India's first International Arbitration Centre in Mumbai.

--IANS

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