23 December, 2014
The city of Mumbai in India got a first-of-its-kind International Arbitration Centre at the Indian Merchants’ Chamber in June 2014, which is promoted as an international alternative dispute resolution centre comparable to those available in Paris, London and Singapore. The centre proposes to provide a fixed cost and time bound schedule of proceedings, thereby aiming to provide a streamlined alternative dispute resolution service in India. The centre estimates that it will be able to provide alternative dispute resolution services at 50-60% less cost than court proceedings and about 40% less than ad hoc or private arbitration.
For further information, please contact:
Nicholas Peacock, Partner, Herbert Smith Freehills
Alistair Henderson, Partner, Herbert Smith Freehills