{"id":16654,"date":"2016-10-14T13:49:14","date_gmt":"2016-10-14T13:49:14","guid":{"rendered":"https:\/\/www.edristi.in\/?p=16654"},"modified":"2016-10-14T13:49:14","modified_gmt":"2016-10-14T13:49:14","slug":"indias-first-international-arbitration-centre-launched","status":"publish","type":"post","link":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/indias-first-international-arbitration-centre-launched\/","title":{"rendered":"India\u2019s first international arbitration centre launched"},"content":{"rendered":"<p style=\"text-align: justify;\"><strong>Question: India\u2019s first international arbitration centre has been established in \u2026 .<\/strong><br \/>\na) Mumbai<br \/>\nb) Goa<br \/>\nc) Lucknow<br \/>\nd) Bhopal<br \/>\n<strong>Ans: (a)<\/strong><br \/>\n<strong> Related facts:<\/strong><\/p>\n<ul>\n<li style=\"text-align: justify;\">On 8th October, 2016 Maharashtra Chief Minister Devendra Fadnavis inaugurated the Mumbai Centre for International Arbitration (MCIA), India\u2019s first international arbitration centre.<\/li>\n<li style=\"text-align: justify;\">The MCIA will be an independent, not-for-profit organisation governed by a council of eminent national and international legal experts.<\/li>\n<li style=\"text-align: justify;\">It will provide world-class infrastructure for arbitration and will be equipped with sound-proof rooms, access to arbitration rooms only with digital key cards and round the clock functionality.<\/li>\n<li style=\"text-align: justify;\">It will have a 12-month timeline to complete arbitration seated in India and a prescribed fee structure according to the size of the disputed contract amount.<\/li>\n<li style=\"text-align: justify;\">A day-long seminar on arbitration was also organized on this occasion.<\/li>\n<li style=\"text-align: justify;\">An estimated 30 per cent of the arbitration cases are handled by the Singapore and London International Arbitration Centres and in this context MCIA will prove to be a step towards making Mumbai an International Financial Services Centre.<\/li>\n<li style=\"text-align: justify;\">It will also provide platform for Indian business houses to negotiate commercial disputes.<\/li>\n<li style=\"text-align: justify;\">Madhukeshwar Desai is the Chief Executive Officer of Mumbai Centre for International Arbitration.<\/li>\n<li style=\"text-align: justify;\">State Chief Secretary Swadheen Kshatriya briefed on the occasion that the State arbitration policy has made it binding that all government contracts worth more than Rs. 5 crore will have standard arbitration clauses.<\/li>\n<\/ul>\n<p><strong>Reference:<\/strong><br \/>\n<a href=\"http:\/\/www.thehindu.com\/news\/cities\/mumbai\/cm-launches-indias-first-international-arbitration-centre\/article9203594.ece\" target=\"_blank\">http:\/\/www.thehindu.com\/news\/cities\/mumbai\/cm-launches-indias-first-international-arbitration-centre\/article9203594.ece<\/a><br \/>\n<a href=\"http:\/\/indianexpress.com\/article\/india\/india-news-india\/devendra-fadnavis-international-arbitration-centre-in-mumbai-3072690\/\" target=\"_blank\">http:\/\/indianexpress.com\/article\/india\/india-news-india\/devendra-fadnavis-international-arbitration-centre-in-mumbai-3072690\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Question: India\u2019s first international arbitration centre has been established in \u2026 . a) Mumbai b) Goa c) Lucknow d) Bhopal Ans: (a) Related facts: On 8th October, 2016 Maharashtra Chief Minister Devendra Fadnavis inaugurated the Mumbai Centre for International Arbitration (MCIA), India\u2019s first international arbitration centre. The MCIA will be an independent, not-for-profit organisation governed [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":16655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1087],"tags":[2529],"class_list":["post-16654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-intne","tag-international-en"],"_links":{"self":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/16654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/comments?post=16654"}],"version-history":[{"count":0,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/posts\/16654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media\/16655"}],"wp:attachment":[{"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/media?parent=16654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/categories?post=16654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.edristi.in\/hi\/%e0%a4%b9%e0%a5%8b%e0%a4%ae\/wp-json\/wp\/v2\/tags?post=16654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}