annual report 2012-2013 - INDIAN COUNCIL OF ARBITRATION

INDIAN COUNCIL OF ARBITRATIONUndisputed Leader in Dispute Resolution

ANNUAL REPORT 2012-2013

INDIAN COUNCIL OF ARBITRATION

ACTIVITIESINDIAN COUNCIL OF ARBITRATION

thI. 47 Annual General Meeting & Seminar on “Arbitration in India

– Trends & Challenges” ..............................................................................................................1

II Election of President and Members of the Governing Body of the Council .................................2

III Election of Senior Vice President and Vice President of the Council...........................................3

IV Co-option of Members on the Governing Body............................................................................3

V Government Nominees ................................................................................................................3

VI FICCI representatives on the Council and the Governing Body ..................................................3

VIII Meetings of the Governing Body..................................................................................................6

IX Meetings of the Arbitration Committee .........................................................................................7

X Meetings of the Membership Screening Committee ....................................................................7

XI Seminar on “International Arbitration in India”rd th– 3 December 2012 – Mumbai and 5 December 2012 - Bengaluru .........................................7

thXII 40 IFAWPCA Convention at Kochi – 7-9 January, 2013.............................................................8

XIII Interactive Seminar on “Advantages of Institutional Arbitration” th– 8 April, 2013 – Bhubaneswar...................................................................................................8

XIV Meeting with the Chamber of Commerce Officials of Afghanistanth– 18 June, 2013 – New Delhi .....................................................................................................9

VII Office Bearers and Members of the Governing Body for the year 2012-2013 .............................4

S. No. Page No.

XV Interactive Meeting with Sri Lankan Delegation on Arbitration

– 10th September, 2013 – New Delhi .........................................................................................9

XVI Seminar on “Institutional Arbitration in India: Opportunities & Challenges”

– 21st September, 2013 – Jaipur ................................................................................................10

XVII Arbitration Service Agreements....................................................................................................12

XVIII ICA Arbitration Quarterly ..............................................................................................................12

XIX Arbitration Services of the Council in Settlement of Commercial Disputes

– Domestic and International ......................................................................................................12

XX Conciliation in Trade Complaints..................................................................................................12

XXI Advisory Services of the Council..................................................................................................13

XXII Inauguration of New Representative Office of the Council ..........................................................13

XXIII Provident Fund of the Council ......................................................................................................14

XXIV Membership of the Council ..........................................................................................................14

S. No. Page No.

ICA ACTIVITIES

th 48 ANNUAL REPORT 2012-13

The Governing Body of the Council have pleasure in presenting to the Forty-eighth Annual General

Meeting of the Council, a Report of the activities undertaken by the Council during the year 2012-

2013, along with the Statement of Accounts for the year ending 31st March, 2013, duly audited by

M/s. Khanna & Annandhanam, Auditors and Chartered Accountants, New Delhi.

thI. 47 Annual General Meeting & Seminar on “Arbitration in India – Trends & Challenges”

thA Seminar on “Arbitration in India – Trends & Challenges” was organized along side the 47 AGM.

Hon'ble Mr. Justice S S Nijjar, the Chief Guest, in his Keynote Address, expressed his strong belief in

institutional arbitration and thought that it is perhaps the only way forward. He conveyed that the

judiciary will also stand to benefit by the same. Justice Nijjar made it very clear that the judiciary

should not be suspicious of arbitration becoming a step brother, as ultimately the aim of judiciary as

well as arbitration is to bring out the rule of law and orderly conduct of law through amicable resolution

of disputes. He reminded the august assembly that the very foundation of arbitration is party

autonomy. Making remarks on BALCO case, he said that some problems had been sorted out by this

judgment, but the mandate in the judgment was very limited as the judiciary had to find out the

greases as to whether Part II of the Arbitration Act, 1996 is totally separate or segregated from Part I or

they are intermingled, especially with regard to Sections 8 and 45 with reference to arbitration. He

further stated that all these issues had to be sorted out on the basis of interpretation that the judiciary

had to place on the seat of arbitration. In the background of globalisation and ever progressive world,

he suggested that we had to catch up the pace of developments in supersonic speed and rationalize

the legalization and bring our Arbitration Law in tune with the world-wide developments in the field. He

felt that the institutions conducting arbitration should concentrate on specific needs of arbitration in

India. He viewed India as the future destination of arbitration and to prove this point he mentioned

about arrival of increasing number of foreign arbitral institutions in India and establishing their offices

here to grab hold of business disputes, which should actually have gone to ICA or similar institutions

in India. The Indian arbitral institutions, according to him, will become international only when they

start regularly interacting with their international counter-parts and for such initiative the Indian

institutions need to have brain-storming sessions with renowned international arbitral institutions

specifically on the intricacies involved, as he felt, these intricacies are the stumbling block against the

developments of arbitration in India.


1


th 48 ANNUAL REPORT 2012-13 2

Body for the year 2012-13 conducted in

accordances with Bye-Laws for Election of the

Council were announced at the Annual General

Meeting.

II) Election of President and Members of the

Governing Body of the Council

President :

The Governing Body of the Council unanimously

elected Mr. N G Khaitan as President of the Council th for the year 2012-2013 at its meeting held on 14

December, 2012 as per Rule 13 of the Rules and

Regulations of the Council. Accordingly, Mr. N G

Khaitan, was declared elected as President of the

Council for the year 2012-2013 at the Annual

General Meeting of the Council.

Election of Representatives of Members on the

Governing Body:

The Election of representatives of the members in

different constituencies was conducted as per Bye-

Laws for Election of the Council. Pursuant to the

result of Election, the following members were

declared elected at the Annual General Meeting.

Mr. D M Popat, Member, Managing Committee &

Chairman, IMC Court of Arbitration & Conciliation,

Mumbai, was declared elected uncontested from

the Foundation Members' Constituency.

Mr. Rakesh Shah, Vice President, Bharat Chamber

of Commerce, Kolkata, and Mr. Nitin K Parekh,

Chairman, Trade & Commerce Committee,

FAPCCI, Hyderabad, were declared elected

uncontested in the Ordinary Members'

Constituency.

Mr. N D Rajpal, Resident Director, Alembic

Pharmaceuticals Ltd, New Delhi, Mr. Sanjay Bhatia,

Managing Director, Hindustan Tin Works Ltd, New

Delhi and Mr. Ashok Sharma, CGM (Law), MMTC

Ltd, New Delhi, were declared elected uncontested

in the Associate Members' Constituency.

Earlier in his welcome address, Mr. N G Khaitan,

President, ICA, emphasized the need to promote

institutional arbitration in the country and in this

regard, recounted the role that ICA had played

since its inception. He also focused on the

importance of ADR and the responsibilities of ICA

to take a lead and promote the process of ADR in

the country. He stressed that this is the right time to

change the mindset of all concerned including

legal community in promoting the process of ADR

instead of Court litigation. He also criticized the

way in which the arbitration had been conducted

as similar to court procedures. He apprised that

the adoption of recognized institutional Rules like

the ICA Rules of Arbitration in the matter of

procedure will go a long way towards resolving

these problems as the most of the arbitrations are

conducted on an adhoc basis without any direction

to avoid the tactics of delay. To inculcate an

arbitration culture and wean them away from

traditional court practices, he suggested that

diploma courses and training should be made

compulsory for those who are holding judicial

offices or in practice.

Mr. Sanjay Bhatia, Vice President of the Council,

while proposing the vote of thanks, highlighted the

advantage of institutional arbitration in the

domestic as well as international commercial

arbitration. He explained that arbitration is much

cheaper under institutional arbitration mechanism

than the adhoc arbitration, which does not have

predefined rules, infrastructure facilities, support

of experienced institution and provision of

arbitrators so as to avoid the increasing number of

hearings taken for disposal of cases. He

appreciated ICA for its efforts to campaign for “Do

not litigate – Arbitrate”.

The Annual General Meeting adopted the Annual

Report of the Council for the year 2011-2012 and

the audited accounts for the year ending 31st

March 2012. The results of election of the

President and the members of the Governing



Mr. O P Goel, Former Director-General, CPWD,

New Delhi, was declared elected in the Individual

Members' Constituency.

III. Election of Sr. Vice President and Vice

President of the Council

The Governing Body of the Council elected Mr.

Sidharth Birla as Senior Vice-President of the

Council and Mr. Sanjay Bhatia, as Vice President of

the Council, for the year 2012-2013.

IV. Co-option of Members on the Governing

Body

The Governing Body of the Council co-opted Mr.

Arup Roy Chowdhury, Chairman, SCOPE, Mr. A K

Rungta, Former President, ICA and Mr. Justice D P

Wadhwa, Former Judge, Supreme Court of India,

as members of the Governing Body of the Council st for the year 2012-2013 at its meeting held on 31

January, 2013 at New Delhi under Rule 16(b) of the

Rules & Regulations of the Council.

V. Government nominees

Under the Rules and Regulations of the Council,

Govt. of India is entitled to nominate five

representatives to the Council and three nominees

to the Governing Body of the Council from among

the five nominated representatives. Accordingly, the

Ministry of Commerce nominated its following

officials as Government's nominees to the Council.

1 Mr. D K Singh

Additional Director General

Directorate General of Foreign Trade

Ministry of Commerce

Udyog Bhawan

New Delhi-110011

2. Dr. S S Chahar

Joint Secretary and Legal Advisor

Department of Legal Affairs

Ministry of Law & Justice

Room No. 418-A, 'A' Wing

Shastri Bhawan

New Delhi-110001

3. Mr. Narinder Singh

Joint Secretary & Legal Advisor

Ministry of External Affairs

Room No.421

V K Krishna Menon Bhawan

9, Bhagwan Das Road

New Delhi-110001.

4. Mr. Mukesh Bhatnagar

Director

Department of Commerce


Room No.279A

Udyog Bhawan

New Delhi-110011

5. Mr. M K Sharma

Joint Secretary & Legal Advisor



Room No. 411, 'A' Wing

Shastri Bhawan

New Delhi

Among the above five Government nominees, Mr.

D K Singh, Dr. S S Chahar and Mr. Narinder Singh

were nominated by the Government to the

Governing Body of the Council.

VI. FICCI representatives on the Council and

the Governing Body

FICCI nominated Mr. N G Khaitan, Mr. Sidharth

Birla and Mr. Arun Chawla as its representatives on

the Council under Rule 3(b) of the Rules and

Regulations of the Council.



Mr. Arun Chawla

Assistant Secretary-General

Federation of Indian Chambers of Commerce &

Industry,

Federation House, Tansen Marg

New Delhi-110 001 …Nominee of FICCI

Mr. Suman Jyoti Khaitan

Advocate

Suman Khaitan & Co.

W-13, West Greater Kailash, Part-2

New Delhi-110048 …Nominee of ASSOCHAM

Mr. Gaurav Swarup

Managing Director

Paharpur Cooling Towers Ltd.,

8/1/B, Diamond Harbour Road

Kolkata-700027 …Nominee of Indian Chamber

of Commerce Kolkata

Mr. Jawahar Vadivelu

Vice-President

The Southern India Chamber

of Commerce and Industry

6, Esplanade, P.B. No.1208

Chennai-600108

…Nominee of Southern India

Chamber of Commerce & Industry

Mr. D M Popat

Sr. Partner,

Mulla & Mulla & Craigie Blunt & Caroe,

Jehangir Wadia Building,

51, M G Road,

Mumbai - 400 023.

…Nominee of Indian Merchants' Chamber

Mr. Narinder Singh

Secretary General

Indian Society of International Law

Room No.421

V K Krishna Menon Bhawan

9, Bhagwan Das Road

New Delhi-110001. …Nominee of Govt. of India

Mr. Sidharth Birla and Mr. Arun Chawla have been

nominated by the FICCI as members of the

Governing Body of the Council as per Rule 16(c) of

the Rules and Regulations of the Council.

VII. Office Bearers and Members of the

Governing Body for the year 2012-2013

The Governing Body of the Council for the year

2012-2013 is constituted of the following

Persons:

Mr. N G Khaitan

Partner

Khaitan & Company

1-B, Old Post Office Street

Kolkata-700 001 ……President

Mr. Sidharth Birla

Chairman

Xpro India Limited

ECE House, 2nd Floor

28A, Kasturba Gandhi Marg

New Delhi-110001 ……Sr. Vice-President

Mr. Sanjay Bhatia

Managing Director,

Hindustan Tin Works Ltd,

426, DLF Tower-A

Jasola Vihar

New Delhi-110025 ……Vice-President

Dr. A Didar Singh

Secretary-General,

Federation of Indian Chambers of Commerce &

Industry,

Federation House, Tansen Marg,

New Delhi - 110 001. …Director-General

Foundation Members

Mr. Sidharth Birla

Chairman

Xpro India Limited

ECE House, 2nd Floor

28A, Kasturba Gandhi Marg

New Delhi-110001 … Nominee of FICCI



Mr. D K Singh

Additional Director General

Directorate General of Foreign Trade

Room No. 10, H Wing


Udyog Bhawan

New Delhi-110011 …Nominee of Govt. of India

Dr. S S Chahar

Joint Secretary and Legal Advisor



Room No. 418-A, 'A' Wing

Shastri Bhawan

New Delhi-110001 …Nominee of Govt. of India

Ordinary Members

Mr. S N Agarwal

Vice-Chairman

Bhoruka Power Corporation Ltd.,

#48, Lavella Road

Bangalore-560001 …Nominee of Federation of

Karnataka Chamber of

Commerce & Industry

Mr. C P Jain* (since deceased)

M/s.Paper Combines (India) Pvt.Ltd.,

MG Road

Cochin-682 035. …Nominee of Kerala Chamber

of Commerce & Industry

Mr. Lalit K Modi

President

Indian Chamber of Commerce & Industry

49, Community Centre

New Friends Colony

New Delhi-110025…Nominee of Indian Chamber


Mr. Vinod Kumar Sharma

Secretary General,

Delhi Hindustani Mercantile

Association,

1210/16, Chandni Chowk,

Delhi - 110 006. …Nominee of Delhi Hindustani

Mercantile Association

Mr. Rakesh Shah

Partner

Nipha Enterprises,

48, Ganga Jamuna

28/1, Shakespeare Sarani

Kolkata - 700 017. …Nominee of Bharat

Chamber of Commerce

Mr. Nitin K Parekh

Chairman,

Trade & Commerce Committee, FAPCCI

308, Dundoo Classic Towers

6-1-16, Padmarao Nagar

Secunderabad-500025 …Nominee of Federation

of Andhra Pradesh Chamber


Associate Members

Mr. Vikram Kapur

President,

Atlas Cycle Industries Ltd.

28, Friends Colony (West)

New Delhi - 110 065. …Nominee of Atlas

Cycle Industries

Mr. R P Singh

Director

IFFCO

IFFCO Sadan, C-1, Distt. Centre

Saket Place

New Delhi-1100017…Nominee of Indian Farmers

Fertilizers Co-operative Ltd.

Mr. R.K. Sanghi

International Trade Law Consultants

5, Babar Road,

New Delhi – 110001 …Nominee of STC Ltd.

Mr. R A Poddar

Chief Executive,

Godfrey Philips India Limited,

Four Square House,

49, Community Centre,

New Friends Colony,

New Delhi - 110 065. …Nominee of Godfrey

Philips India Ltd.



Dr. Kirty A Dave

Techno Legal Consultant

5/B, 'GHAR', Sagarika Society

Juhu Tara Road, Juhu

Mumbai - 400 049.

Mr. N P Gupta

Trans Tech PKG Ventures Pvt. Ltd,

702, Neelsidhi Enclave

Sector -14, Vashi

Navi Mumbai-400703

Mr. O P Goel

Former Director-General (Retd.),

CPWD

B-XI/8091, Vasant Kunj

New Delhi-110070

Co-opted Members

Mr. Arup Roy Chowdhury

Chairman

Standing Conference on Public

Enterprises (SCOPE)

SCOPE Complex, Core No. 7

7, Institutional Area, Lodhi Road

New Delhi-110 003.

Mr. A K Rungta

Chairman

Rungta Enterprises

225-D, Acharya J.C. Bose Road

Kolkata – 700 020

Mr. Justice D P Wadhwa

Former Judge

Supreme Court of India

C-25, Panchsheel Enclave

New Delhi-110 017

VIII) Meetings of the Governing Body

The Governing Body of the Council held five

meetings on 14th December, 2012, 31st January,

2013, 30th July, 2013, 20th September, 2013 and

6th November, 2013 at New Delhi to consider and

formulate the work plan of the Council during the

year.

Ms. Geeta Luthra

Senior Advocate

Supreme Court of India

A-35, East of Kailash

New Delhi-110065 …Nominee of PEC Limited

Mr. Pritam Singh Bawa

Former Chief Engineer, DVB

BQ-26, Shalimar Bagh

Delhi-110088 …Nominee of CMC Limited

Mr. I M Khan

Vice President,

U P Bar Council

3, Ponappa Road

New Cantt.,

Allabahad-211001 …Nominee of International

Trade Law Consultants

Mr. N D Rajpal

Resident Director

Alembic Pharmaceuticals Ltd.

Prithvi Mansion

4/8, Asaf Ali Road

New Delhi - 110002 …Nominee of Alembic

Pharmaceuticals Ltd.

Mr. Ashok Sharma

CGM (Law)

MMTC Ltd.

C-11, Defence Colony

New Delhi - 110 003. …Nominee of MMTC Ltd.

Mr. Sanjay Bhatia

Managing Director,

Hindustan Tin Works Ltd,

426, DLF Tower-A

Jasola Vihar

New Delhi-110025 …Nominee of Hindustan

Tin Works Ltd.

Individual Members

Dr. P C Markanda

Senior Advocate

Punjab & Haryana High Court

111, Sector 16-A

Chandigarh-160015


IX) Meetings of the Arbitration Committee

The Arbitration Committee of the Council for the

year 2012-2013 comprised of Mr. N G Khaitan, Ex-

officio Chairman, Mr. Sidharth Birla, Sr. Vice

President, Mr. Sanjay Bhatia, Vice-President and

Mr. Justice D P Wadhwa as members of the

Committee. The Arbitration Committee of the

Council held nine meetings on 15th December,

2012, 7th January, 2013, 7th February, 2013, 2nd

May, 2013, 16th May, 2013, 5th July, 2013, 20th

September, 2013, 8th October, 2013 and 6th

November, 2013 for appointment of arbitrators in

arbitration cases referred to the Council and for

approval of applications of the aspirants for

empanelment with the Panel of Arbitrators

maintained by ICA.

X) Meetings of the Membership Screening

Committee

The Governing Body of the Council constituted a

Membership Screening Committee with Mr. N G

Khaitan, Ex-officio Chairman, Mr. Sidharth Birla, Sr.

Vice President, Mr. Sanjay Bhatia, Vice-President,

Mr. Vikram Kapur, Mr. Arun Chawla and Dr. A Didar

Singh, as members, to expedite the approval of the

applications of organisations / persons for

membership of the Council. The Membership

Screening Committee held seven meetings on

14th December, 2012, 31st January, 2013, 2nd

May, 2013, 16th May, 2013, 5th July, 2013, 20th

September, 2013 and 6th November, 2013 to

approve the applications for membership with the

Council and for other matters.

XI) Seminar on “International Arbitration in

India” – 3rd December 2012 – Mumbai

and 5th December 2012 - Bengaluru

The ICA in association with ICC India and ICC

International Courts of Arbitration, Paris, organized

Seminars on “International Arbitration in India” on

3rd December 2012 at Mumbai and on 5th

December 2012 at Bengaluru. Hon'ble Mr. Justice

Mohit Shah, Chief Justice of Bombay High Court,

inaugurated the Seminar and addressed the

august participants. During his address, Justice

Shah highlighted the number of arbitration petitions

pending in Bombay High Court. Till 1st July, 2010

there were 1126 cases and till November 2012,

additional 2776 cases were instituted and 3258

were disposed off in the last two years. Justice Shah

also mentioned “today arbitration has become as

formal and technical like the Courts are, all though

ideally arbitration should have replaced the Court

system”. He added that mediation is gaining more

popularity than arbitration in USA, UK and other

western countries. Mr. Harsh Pati Singhania,

President, ICC India and Mr. N G Khaitan, President

ICA, welcomed the large and elite audience

comprising of renowned personalities in the field of

arbitration. In his address, Mr. N G Khaitan

mentioned that the main cause of delay in

arbitration was due to too much intervention of

Courts. He also emphasized on the need to engage

the younger generation of lawyers and Judges to

bring about attitudinal changes, to inculcate an

arbitration culture and wean them away from

traditional Court practices.

The Seminar in Bengaluru organized on 5th

December 2012 was addressed by Mr. D M Popat,

Member, ICC International Court of Arbitration. Mr.

K Shiva Shanmugam, President, Federation of

Karnataka Chambers of Commerce & Industry,

welcomed the participants. Addressing the

delegates, Mr. D M Popat mentioned that there

should be a strict time limit to announce the Award in

India as in the cases of ICC and ICA. He

emphasized that “We should inculcate the culture of

ICC, not to interpret the language of ICC and then

only we would have succeeded in Indian arbitration

whether it is Adhoc or Institutional”. The Seminars

were attended by participants from business, law

firms and consultancy organizations.

The main objective of these Seminars was to make

deliberations on various aspects of international

arbitration in order to provide a practical,

experience-based guide to international arbitration.

The Seminars also covered recent developments in

practice affecting the conduct of international

arbitration.




thXII) 40 IFAWPCA Convention at Kochi – 7-9

January, 2013

The International Federation of Asian and Western

Pacific Contractors Associations (IFAWPCA) held

its 40th convention from 7th to 9th January, 2013 at

Kochi, Kerala. The Convention was hosted by the

Builders Association of India (BAI) and had a

participation of over 1000 participants from 16

countries. Mr. Arun Chawla, Advisor, ICA, was

invited to participate and make a presentation on

Arbitration in India and ICA's role in dispute

settlement as a pioneer arbitral organization. Mr.

Chawla made his presentation in a dedicated

session of the convention. The presentation

focused on the need for ADR in business, the

advantages of arbitration over litigation and the

benefit of utilizing the services of ICA as an

institution. The presentation evinced keen interest

among the participants.

XIII) Interactive Seminar on “Advantages of

Institutional Arbitration” – 8th April, 2013

- Bhubaneswar

In order to acquaint the Odisha based State and

Central Public Sector Units with the preferential

values of institutional arbitration, ICA organised an

Interactive Seminar on “Advantages of Institutional

Arbitration” on 8th April, 2013 at Bhubaneswar.

Mr. Prasanna Acharya, Hon'ble Minister of Finance

& Public Enterprises, Govt. of Odisha, graced the

occasion as the Chief Guest. In his keynote

address, he preferred the need for prevention of

dispute rather than adjudication of dispute. In the

background of litigation proceeding suffering from

deficiencies like delay and cost, institutional

arbitration is the need of the hour, as stated by him.

He felt the adoption of ADR a must for business in

the states like Odisha where foreign investment is

at premium. However, he observed that for creating

fair arbitration atmosphere, there is a need of

training programme for developing the skills of

arbitrators.

Mr. C J Venugopal, Principal Secretary, Public

Enterprises Department, Govt. of Odisha, in his

special address, raised his concern about too much

ad- hocism in arbitration, which suffers from varied

inadequacies resulting in adverse effects on the

entire dispute resolution system. Highlighting the

State Government's various initiatives in

introducing arbitration in the place of court

proceeding, especially in the disputes between

State PSUs and Commercial Tax Department, Mr.

Venugopal mentioned about formation of a

C o m m i t t e e h e a d e d b y D e v e l o p m e n t

Commissioner, whose main role is to make out of

court settlement of disputes arising out of inter-

corporate issues. He too suggested for PSUs to

settle its disputes through arbitration under the

auspices of arbitral institutions like ICA instead of

going to the courts.

Mr. R P Singh, Director, IFFCO and Mr. V N Singh,

GM Head Legal, ONGC Videsh, both discussed

about their respective past experiences in dealing

with adhoc arbitration. Both the panellists

advocated for institutional arbitration and adoption

of ICA arbitration clause in the future contracts of

their own respective organisations as, according to

them, ICA “standardises” arbitration. Mr. V N Singh

spoke about the omnipresence of ICA in India and

its capacity to meet the varied needs of business

and industry. Mr. Aurobindo Acharya, Company

Secretary and Head Legal, IDCOL, also promoted

the idea of introducing institutional arbitration in

order to generate speedy and effective resolution of

dispute.

Earlier, in his welcome address, Mr. N G Khaitan,

President, ICA, alerted the audience by stating that

arbitration cannot succeed without the support of

strong arbitral institutions like ICA. In order to

accomplish its objective for promotion of

commercial arbitration, Mr. Khaitan mentioned that

ICA had received unconditional support from former

Judges, Advocates and Government of India and

also from other experts and professionals in various

fields and maximum support from business and



industry at large. In spite of various demerits of ad

hoc arbitration, people still prefer ad hoc arbitration

over institutional arbitration due to their

unawareness. In his bid to underscore the

excellence of ICA in rendering arbitration services

for nearly five decades, Mr. Khaitan mentioned

about recent amendments to ICA Rules of

Arbitration, which was done to accelerate the pace

of arbitration proceedings. He insisted on

educating the Ministries and other government

authorities about the edges of institutional

arbitration over ad hoc arbitration and promised to

extend cooperation on behalf of ICA for imparting

such education.

The Seminar was concluded with a Q & A Session

where the interested participants got ready

feedback to their queries from the experts in the

panel.

XIV) Meeting with the Chamber of Commerce

Officials of Afghanistan – 18th June, 2013

– New Delhi

As a part of FICCI's initiative with respect to the

'Chambers of Commerce Confidence Building

Measure', ICA, at the behest of FICCI had an

interactive meeting with some distinguished

officials of Chambers of Commerce of Afghanistan.

The delegation was led by Mr. Alhaj Abdul Salam

Kohi, Director of Legal Services and Arbitration

Department, Afghanistan.

Mr. D. Sengupta, Additional Director, ICA, while

projecting the role of ICA in promoting arbitration

and rendering arbitral services to the business and

industry at large, conveyed about the arbitration

scenario of India, the practical aspects and

prospects of resolving commercial disputes

through institutional arbitration and answered the

queries and issues raised by the visiting Afghan

team.

The need of the hour, as the Afghan team indicated,

is to build confidence in business community about

arbitration, restructuring of arbitration law and

procedure and training of arbitrators in their country.

They also felt a need to enter into a MOU with FICCI

to fulfill the above objectives. As for the training part,

ICA promised to impart training and / or arrange for

training. Mr. Sengupta also suggested for certain

features in the proposed MOU which would entail

the actual synergic relationship between the two

chambers in promoting better arbitration regime in

Afghanistan.

XV) Interactive Meeting with Sri Lankan

Delegation on Arbitration – 10th

September, 2013 – New Delhi

An interactive meeting with a distinguished

delegation from Sri Lanka led by His Excellency Mr.

Rauff Hakeem, Hon'ble Minister of Justice, Sri

Lanka and Hon'ble Deputy High Commissioner of

Sri Lanka, Ms. Mahishini Colonne was held on 10th

September, 2013 under the auspices of FICCI. The

meeting was a part of mission of both the countries

on bilateral economic co-operation. The

discussions focused on exploring the methods of

collaborating with each other in promoting

arbitration in resolving international business

disputes occurred in both the countries.

Welcoming the distinguished guests of Sri Lanka,

Dr. A. Didar Singh, Director General, ICA and

Secretary General, FICCI, remarked that although

the economic relations between the two countries

remained vibrant but there was absence of

institutional framework pertaining to arbitration. As

such, he proposed for setting up of Indo-Sri Lanka

Bilateral Arbitrat ion Council for smooth

performance of trade and business and to promote

India and Sri Lanka as ideal locations for

international arbitration.

Mr. Arun Chawla, Advisor, ICA and Assistant

Secretary General, FICCI, while highlighting the

ICA's pioneering role in promoting arbitration and

settling domestic and international disputes, stated

that 90% of Indian companies include arbitration

clause in their contracts for resolution of disputes

and of them, 20-25% companies insert institutional



arbitration clause in their contracts. He also

informed that the Indian judiciary had taken a pro-

arbitration stance as it has made very clear in its

recent judgments about its non-interventionist

approach towards international arbitration.

Ms. Geeta Luthra, Senior Advocate and Governing

Body Member of ICA, confirmed that the business

cl ientele prefers expedit ious arbitration

mechanism to lengthy Court proceedings.

However, she remarked that the standard of

arbitration should be better and the costs should be

less expensive.

His Excellency, Mr. Rauff Hakeem, in his

interaction with the ICA and FICCI representatives,

felt it necessary to exploit the locations of both the

countries to promote arbitration. He said that the

primary impact and fall-out of this meeting would be

to initiate collaboration with India for offering best

possible package of arbitration to the international

business community. On this account, he thought

that FICCI and ICA could play pivotal role and co-

operation with them under a defined framework

would lead to accomplishment of objectives

discussed in the said meeting.

XVI) Seminar on “Institutional Arbitration in

India: Opportunities & Challenges”– 21st

September, 2013 – Jaipur

India has been on the threshold of phenomenal

economic growth and it is but obvious that such a

growth is accompanied by a rise in commercial

disputes. A statutory framework, that ensures

arbitration in India as a smooth and free dispute

resolution process, would have gone a long way in

boosting this industrial and commercial growth in

the country. However, nearly one and half decades

after the enactment of the Arbitration and

Conciliation Act, 1996, there have been whispers in

the air that this alternate dispute resolution

technique needs a greater push in order to achieve

the gains and advantages which were intended by

the legislators while enacting the Act of 1996. One

of the problems that plague this process is the

evergreen dilemma between Institutional and Ad-

hoc arbitration.

With a view to explore the embedded opportunities

and emerging trends in institutional arbitration and

map the challenges ahead, the Indian Council of

Arbitration, organised an Interactive Seminar on

“Institutional Arbitration in India – Opportunities &

Challenges” on 21st September, 2013, in Jaipur.

Hon'ble Mr. Justice Amitabha Roy, Chief Justice,

Rajasthan High Court, in his Keynote Address,

stated that the vision of effective arbitration in India

can only be achieved through committed

actualization. According to him, the people involved

in it – parties, its counsel and arbitrators – have to

understand the basic difference between the

process of settlement of dispute in the courts and

that in the arbitration. He said that the arbitration is

firstly an agreement for economical, timely and final

resolution of disputes. He felt the need for

opportunity for thorough study and research on

commercial arbitration in the institutions imparting

legal education so that the students from the very

early stage of learning should have developed

different mindsets for arbitration. In discussing

about arbitration culture, Justice Roy suggested

that there should be a system for pre-deposit while

challenging the award under Sec.34 of the 1996 Act.

In advocating for institutional Arbitration, Justice

Roy wanted the arbitral institutions in the country

should be oriented with good arbitral services so as

to motivate the parties for adoption of institutional

arbitration. Justice Roy suggested that the arbitral

institutions should be continuously devoted to

motivate the masses to accept this dispute

resolution mechanism. Finally, Justice Roy made it

very clear that although court proceeding and

arbitration proceeding have different philosophies

and directions but there is a symbiotic relationship

between these two institutions.

Mr. Justice Bhandari, Judge, Rajasthan High Court,

in his Special Address, felt that with the help of



institutional arbitration only, the overburdened

court cannot be relieved. He thought that it would

require an establishment of successful arbitration

regime, where the judicial intervention should be

curtailed and judicial officers in the lower courts

should be educated and instructed to dispose of

objections against arbitration quickly. Although he

admitted that currently ad-hoc arbitration is more

popular than institutional arbitration, due to lack of

proper procedure, huge delay occurs very often in

ad hoc arbitration. He appealed to ICA to resolve

disputes in time-bound manner. He also suggested

that ICA should have an International Arbitration

Centre in the pattern of SIAC. He said that the basic

problem in arbitration in our country lies in lack of

competent rules of procedure and urged to ICA to

come up with such rules of procedure for arbitration

so that there would not be any confusion in the

minds of the parties.

Earlier, in his welcome address, Mr. N G Khaitan,

President, ICA, felt the need of quick development

of institutional arbitration in the country as the trade

in the forthcoming years would be centered around

Asia and Africa and disputes being deterrent to

smooth performance of trade, the players in these

countries would naturally look forward to see the

mechanism of arbitration in India being in place to

deal with the borderless dispute resolution. He

stated that traditionally Indian society had been

using this system from ancient period and even

today family disputes in India get resolved through

arbitration. Mr. Khaitan felt that, for adequate

promotion of institutional arbitration, Sec.11 of

1996 Act to be properly implemented. He observed

that the popularity of international arbitral institutes

lies in speed, confidentiality and cost-

effectiveness. In that kind of understanding, he

announced that ICA had already amended its

domestic arbitration rules, which is absolutely time-

specific. He also informed that ICA is in the process

of developing a separate set of rules of procedure

for conduct of commercial international arbitration.

He was optimistic when he said that India could be

a natural choice of destination for international

arbitration in near future with the right kind of

attitude and direction towards arbitration.

In her Vote of Thanks address, Mrs. Geeta Luthra,

Senior Advocate, Supreme Court of India, thought

that the parties usually approach arbitration with

similar mind set as for litigation, with the result that

the awards invariably end up in courts, increasing

the time frame for resolution of disputes and due to

this obtrusive delay, the objective of arbitration as a

mechanism of speedy resolution of disputes gets

obstructed.

The entire Inaugural Session was anchored by Mr.

Arun Chawla, Advisor, ICA.

The working session was chaired by Mr. Justice

Kasliwal, Former Judge, Supreme Court of India

and the panelists included Mr. R N Mathur, Mr.

Sudhir Gupta, and both Senior Advocates in

Rajasthan High Court, Mr. R S Rathore, IFS, Former

Ambassador and Mrs. Geeta Luthra. The common

thread of deliberations by the panelists was that the

full potential of arbitration had not been realized in

the country. Everyone felt that until there are

adequate legislative changes following the changes

in global arbitration trends and courts relinquish

interventionism, the position of arbitral institutions in

India shall remain precarious, as any innovation in

the procedure introduced would be defeated by lack

of legislation or undue judicial intervention. Mr.

Rathore, by way of ppt presentation, showcased the

advantage of institutional arbitration over its weaker

sibling ad hoc arbitration. According to him, for

better results in arbitration, the credentials of

arbitrators should be checked before their

appointments. He also proposed that the

government should instruct the PSUs to adopt

institutional arbitration and respect the arbitration

awards in letter and spirit. He suggested ICA to

obtain ISO 9001 certification for value addition to its

services.

The working session was followed by Question

Answer Session, which was also proved to be

brainstorming.



The event was a great success in terms of quality of

deliberations and large gathering of distinguished

mix of participants including industry captains,

arbitrators, lawyers, retired judges etc.

XVII) Arbitration Service Agreements

The ICA has cooperation agreements with 46 apex

arbitral institutions of the world for cooperation

between the organizations for promoting the use of

Arbitration proceedings by the respective

organizations.

XVIII) ICA Arbitration Quarterly

The Council publishes its official arbitration journal,

the “ICA Arbitration Quarterly” to keep its members

informed about the latest developments in law and

procedures in India and abroad. Apart from

specialized articles, important court decisions

rendered by the Supreme Court of India and

various High Courts as also by the foreign Courts

are reported in the Quarterly. Four issues of the

Quarterly were brought out during the year, which

were found to be useful and appreciated by the

members at large.

The Editorial Board of the ICA Arbitration Quarterly

constituted of Mr. N G Khaitan, Mr. Suman Jyoti

Khaitan, Dr. Kirty A. Dave, Mr. P C Markanda, Mr. R

K Sanghi, Ms. Geeta Luthra and Mr. Arun Chawla

as members and Mr. D. Sengupta as Editor during

this year.

XIX) Arbitration Services of the Council in

Settlement of Commercial Disputes -

Domestic and International

The Council has been providing its arbitration

services for smooth conduct of arbitration

proceedings in domestic and international

commercial disputes. The institutional arbitration

facilities of the Council include administrative

services and appointment of arbitrators,

correspondence with the parties and the

arbitrators, collection of documents and pleadings

from the parties, preparation of case files for the

arbitrators, fixation of hearings in consultation with

the arbitrators, parties and their lawyers,

arrangements of hearing rooms for arbitration

meetings, secretarial assistance and general

coordination for expeditious and economic conduct

of arbitration proceedings and publication of

arbitration awards. After the enactment of the

Arbitration & Conciliation Act, 1996, the High Courts

have referred some cases for settlement through

arbitration under the Rules of Arbitration of the

Council.

During the year, 52 new arbitral references were

received by the Council, 51 under its commercial

Rules of Arbitration and 1 under its Maritime

Arbitration Rules. Out of 52 arbitration matters

under the Rules of Arbitration of the Council, 5 of

them were of international character between

Indian and foreign parties from Hong Kong,

Singapore, Germany, Switzerland and Spain.

The number of cases is 180 settled during the year

by awards, compromise settlement etc. is 172

under ICA Commercial Arbitration Rules, and 8

under Maritime Arbitration Rules.

At the beginning of the year, 405 arbitration cases

had been pending with the Council at different

stages of proceedings. At the end of the year, 277

arbitration cases had been under process including

20 arbitration matters, which had been pending in

courts due to litigation between the parties.

XX) Conciliation in International Trade

Complaints

Apart from arbitration services in the settlement of

commercial disputes, the Council has been

providing conciliation services for settlement of

trade complaints to minimize delays and costs in

disputes resolution by ADR techniques like

conciliation. Conciliation is generally done through

correspondence with a view to bringing the parties

around to an amicable settlement of the dispute.

Sometime personal meetings with the concerned

parties are also arranged at their request. Before

the commencement of each and every arbitration

proceeding parties were encouraged to opt for

conciliation for swifter resolution of disputes.



XXI) Advisory Services of the Council

With a view to preventing disputes from arising and

incorporating standard terms of contract

particularly arbitration clause, the Council has

rendered its advisory services to a large number of

public undertakings, government departments,

business organizations who approached the

Council in regard to the formulation of standard

contract forms, trade terms, arbitration laws and

procedures in India and abroad. These services

are intended to educate the parties on the contract

clauses entered into by them. The Council has

provided its advisory services to public sector

undertakings on complimentary basis to promote

the use of arbitration and amicable settlement of

business disputes.

XXII) Inauguration of New Representative

Office of the Council

In a view to extend its promotional activities and

arbitral services in Uttar Pradesh, ICA, in

association with the Merchants' Chamber of U.P.,

Kanpur, has opened its new representative office at

the premises of the said Chamber in February,

2013. The business and industry, intending to settle

their disputes under the ICA Rules of Arbitration will

henceforth have direct services of ICA from its

newly-opened UP office at Kanpur.

The Council has its other representative offices at

the premises of Indian Chamber of Commerce, at

Kolkata, Indian Merchants' Chamber at Mumbai

and Southern India Chamber of Commerce &

Industry at Chennai to promote the use of

arbitration and provide effective arbitration

services. The addresses and other contact details

of representative offices of the Council are

furnished below :-

Representative Office in the Western Region

States : Maharashtra, Gujarat, Goa.

Office : The Indian Council of Arbitration

(Western Region),

c/o, Indian Merchants' Chamber,

Indian Merchants Chamber Building,

IMC Marg, 76, Veer Nariman Marg,

Churchgate, Mumbai - 400 020.

Phone : 022-22046633; Fax: 022-22048508

Email : [email protected]

Representative Office in the Southern Region

States : Tamil Nadu, Kerala, Union

Territory of Pondicherry.


(Southern Region),

c/o, Southern India Chamber of

Commerce and Industry,

Indian Chamber Building,

P B No. 1208, Esplanade Road,

Opp. High Court of Chennai

Chennai - 600 108.

Phone : 044-25342228-29, 25342055;

Fax : 044-25341876


Representative Office in the Eastern Region

States : West Bengal, Tripura, Assam,

Meghalaya, Nagaland, Sikkim, Orissa,

Bihar, Arunachal Pradesh, Manipur.


(Eastern Region),

c/o, Indian Chamber of Commerce,

India Exchange, 4, India Exchange

Place,

Kolkata - 700 001.

Phone : 033-22303242

Fax : 033-22213377




The representative offices extended their cooperation in the successful organisation of conferences, interactive

meetings etc. organised by the Council during the year.

The Council also have its state level representative offices at Pune, Hyderabad, Bangalore, Bhubaneshwar,

Jaipur, Ahmedabad, Cochin and Guwahati which are functioning from the apex Chambers of Commerce.

XXIII) Provident Fund of the Council

Dr. A Didar Singh and Mr. Arun Chawla were appointed as Trustees of the Indian Council of Arbitration

Employees' Provident Fund for the year 2012-2013 by the Governing Body of the Council, during the year.

XIV) Membership of the Council

The Council has sent out several communications to various important business organizations, chambers of

commerce and distinguished businessmen, legal community, professionals, chartered accountants and

individuals interested in the field of arbitration, urging them to join in the membership of the Council. Pursuant

thereto, a number of important firms, chartered accountants and individuals have shown their keen interest in

the arbitration services of the Council and joined as members.

The total membership of the Council stood at 4800 during the year, which includes 17 Foundation Members, 40

Ordinary Members, 344 Associate Members and 4381 Individual Members, 13 Honorary members and 5

Representatives of the Government of India. 123 Members have joined Life/Permanent Membership during the

year. A complete list of Members of the Council for the year 2012-2013 is available at ICA website:

www.icaindia.co.in

STATEMENT OF ACCOUNTSINDIAN COUNCIL OF ARBITRATION

REPORT OF AUDITORS TO THE MEMBERS1. We have audited the attached Balance Sheet of the Indian Council of Arbitration as at 31st March, 2013, the

Income & Expenditure Account of the Council for the year ended on that date, annexed thereto. These financial

statements are the responsibility of the Council's management. Our responsibility is to express an opinion on

these financial statements based on our audit.

2. We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards

require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements

are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts

and disclosures in the financial statements. An audit also includes assessing the accounting principles used and

significant estimates made by management, as well as evaluating the overall financial statement presentation.

We believe that our audit provided a reasonable basis for our opinion.

3. We have obtained all the information and explanations which to the best of our knowledge and belief were

necessary for the purpose of our audit.

4. In our opinion, proper books of account required by law have been kept by the management so far as appears

from our examination of the books.

5. The Balance Sheet, and the Income & Expenditure dealt with by this report are in agreement with the books of

account.

6. In our opinion and to the best of our information and according to the explanation given to us the said accounts,

subject to provision not having been made for income tax demand of Rs. 5,32,679/- (being disputed and

under appeal; note no. 2a); and read with the other notes attached thereto and appearing thereon give a true

and fair view in conformity with the accounting principles generally accepted in India.

i) In the case of Balance Sheet of the state of affairs of the Council as at 31st March, 2013; and

ii) In the case of Income and Expenditure Account of the surplus of the Council for the year ended on that date.

For Khanna & Annadhanam

Chartered Accountants(Regn. No. 001297N)

(Sd/-)

(K A Balasubramanian)

Place : New Delhi Partner

Date : 20th September 2013 (Membership No. 17415)

BARAKHAMBA ROAD : 706, AKASH DEEP, 26-A, BARAKHAMBA ROAD, NEW DELHI-110001 TELE : 91 (11) 2331 5110, 2331 5119FAX : 91(11) 23739216E-MAIL : [email protected]

NDASAF ALI ROAD : 3/7 B, 2 FLOOR, ASAF ALI ROAD, NEW DELHI -110002 Tele : 91 (11) 23244061, 23244062, 23244063 Fax : 91(11) 23244475 Email : [email protected], [email protected]

As At As At

31.3.2012 LIABILITIES 31.3.2013

(`) (`)

CAPITAL FUND

PERMANENT/LIFE MEMBERSHIP FUND

As per last Balance Sheet 2,03,17,683

2,03,17,683 Add: Received during the year 11,28,000 2,14,45,683

RESERVES & SURPLUS

As per last Balance Sheet 6,05,92,591

Add: Excess of Income over

Expenditure as per Income &

6,05,92,591 Expenditure Account 1,60,64,813 7,66,57,404

PROVISION FOR RETIREMENT GRATUITIES

As per last Balance Sheet 36,15,215

Add: Current year Provision 1,48,111

Add: Interest Received / Accrued on

Investment (Gross) (Tax Deducted at

Source ` NIL)(Prev. Year ` NIL) 2,39,720

36,15,215 Less: Paid to ICA 81,500 39,21,546

CURRENT LIABILITIES & PROVISIONS

10,00,308 Sundry Creditors 15,12,305

Advance Subscriptions

From Existing/

26,900 Proposed Members 3,500

3,500 15,15,805

INDIAN COUNCIL OFBALANCE SHEET AS AT



ARBITRATION - NEW DELHI 31ST MARCH 2013

As At As At

31.3.2012 ASSETS 31.3.2013

(`) (`)

5,27,676 FIXED ASSETS 14,91,861

(As per Schedule 'A' Attached)

13,59,18,603 INVESTMENTS 13,91,16,103

(As per Schedule 'B' Attached)

A) CURRENT ASSETS

84,20,729 Interest Accrued on Investments 94,92,839

0 Sundry Debtors 4,99,49,316

Cash & Bank Balance

2,846 Cash & Stamps in Hand 14,319

Balance with Scheduled Banks

2,726 In Current A/c 2,726

1,58,83,658 In Savings A/c 2,08,69,145

1,20,00,000 In Fixed Deposits 2,20,00,000

3,56,580 Accrued Int. on FDR 21,27,347 4,49,99,218

For Arbitration Cases

3,60,00,000 In Fixed Deposits 6,25,00,000

9,03,748 Accrued Int. on FDR 56,58,572 6,81,58,572

For Gratuity Fund

13,496 In Savings A/c 14,042

3,82,644 In Fixed Deposits 3,82,644

11,958 Accrued Int. on FDR 47,735 4,44,421 16,35,65,846



As At As At

31.3.2012 LIABILITIES 31.3.2013

(`) (`)

Advance from Parties to Arbitration

Balance as per last Balance Sheet 12,98,26,486

Add: Received during the year 16,15,49,544

29,13,76,030

Less:

(i) Expenditure

during the year 6,75,13,103

(ii) Income on

completion of cases

transferred to

Income & Expendi-

12,98,26,486 ture Account 83,67,936 7,58,81,039 21,54,94,991

1,56,458 Other Liabilities 78,975

9,48,864 Leave Encashment Payable 11,56,694

- Income Tax Deducted at Source 2,23,088

- Service Tax Payable 47,537

- Education Cess Payable 951

- Secondary & Higher Education Cess 475

21,64,84,505 TOTAL 32,05,43,149



As per our Report to the Members attached separately

For KHANNA & ANN DHANAMChartered Accountants

(FRN001297N)(Sd/-)

K A BALASUBRAMANIANNEW DELHI Partner DATE: 20th September, 2013 (Membership No. 17415)

A

As At As At

31.3.2012 ASSETS 31.3.2013

(`) (`)

B) LOANS & ADVANCES

(Considered Good)

2,648 Conveyance Loan to Staff 0

2,64,795 House Building Advance to Staff 1,71,195

40,402 Prepaid Expenses 1,05,791

23,39,820 Income Tax Deducted at Source 33,41,596

26,35,261 Premium on Purchase of Securities 22,81,003

7,76,915 Due from Gratuity Fund Trust 6,95,415

- Service Tax Input Credit 4,803

- Education Cess Input Credit97

- Secondary & Higher Education Cess Inpur Credit 48

- Service Tax Input Credit (RCM) 1,64,453

- Education Cess Input Credit (RCM) 3,289

- Secondary & Higher Education Cess Input Credit (RCM) 1,643 67,69,333

- Service Tax Advance Deposit 1,04,046

- Education Cess Advance Deposit 2,080

- Secondary & Higher Education Cess Advance Deposit 1,041 1,07,167

21,64,84,505 TOTAL 32,05,43,149

(N G Khaitan) (Arun Chawla) (Geeta Luthra) (D. Sengupta)President Member, Member, Additional Director

Governing Body Governing Body

(Sd/-) (Sd/-) (Sd/-) (Sd/-)




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As At As At PARTICULARS 31.3.2012 31.3.2013

( ) ( )

1 In Unit Trust of India

Under CRTS - 1981 - 8780 units (Previous 8780 units) of f.v. of Rs.100/- per unit. 10,10,125 10,10,125

2 In ICICI DDB-2020 20,27,325 20,27,325

3 In 6% Syndicate Bank Bond - 2014 9,29,233 9,29,233

4 In 7.45% ICICI Bond- 2015 10,00,000 10,00,000

5 In 7.46% Govt. of India Security - 2017 35,00,000 35,00,000






11 In 8.15% Central Bank of India-2015 9,55,500 9,55,500


13 In 9.35% UTI Bank - 2016 29,92,500 29,92,500

14 In 10.10% ICICI Bank - 2016 30,00,000 30,00,000

15 In 8.95% ICICI Bank - 2016 10,00,000 10,00,000

16 In 7.45% State Bank of India - 2015 18,64,000 18,64,000

17 In 7.15% Union Bank of India - 2015 17,95,000 17,95,000

18 In 9.45% Union Bank of India - 2016 10,00,000 10,00,000

19 In 10.55% Bank of India - 2017 20,00,000 20,00,000

20 In 10.65% Bank of Maharashtra - 2017 20,00,000 20,00,000

21 In 10% ICICI Bank - 2017 10,00,000 10,00,000


23 In 9.08% Allahabad Bank-2019 29,93,700 29,93,700


25 In 9.90% State Bank of Patiala - 2022 10,00,000 10,00,000

26 In 10.65% United Bank of India - 2022 30,00,000 30,00,000

27 In 10.50% Bank of Rajasthan - 2021 10,00,000 10,00,000

28 In ICICI - DDB - 2015 5,73,400 5,73,400

29 In ICICI - DDB - 2017 86,900 86,900

30 In ICICI - DDB - 2017 35,06,130 35,06,130

31 In ICICI - DDB - 2018 75,690 75,690

32 In 10.10% Axis Bank-2017 29,40,000 29,40,000

33 In 9.48% Citi Financial Consumer Finance-2013 68,02,500 0

34 In 10.50% HDFC Bank-2018 30,00,000 3,000,000

35 In 11.50% Bank of Rajasthan-2019 80,00,000 80,00,000

36 In 9.25% Punjab & Sind Bank-2016 40,00,000 40,00,000

37 In 10.50% Bank of Rajasthan - 2019 50,00,000 50,00,000

38 In 8.80% Central Bank of India-2024 50,00,000 50,00,000

39 In 9.70% ING Vysya Bank-2016 30,00,000 30,00,000

40 In 9.00% Jammu & Kashmir Bank-2019 80,00,000 80,00,000

41 In 8.85% PNB Housing-2019 50,00,000 50,00,000

42 In 8.80% REC-2019 70,00,000 70,00,000

43 In 8.58% Allahabad Bank-2024 50,00,000 50,00,000

44 In 8.20% GOI-Oil Bonds-2024 29,81,100 29,81,100

45 In 8.00% GOI-Oil Bonds-2026 96,95,000 96,95,000

46 In 9.25% LIC Housing Bonds-2022 0 10,000,000

TOTAL 13,59,18,603 13,91,16,103

` `

INDIAN COUNCIL OF ARBITRATION - NEW DELHI SCHEDULE OF INVESTMENTS AT COST

AS AT 31ST MARCH 2013Schedule - 'B'

(Rs.13,91,16,103/- includes Rs.19,46,100/- and Rs.7,94,35,725/- respectively towards Gratuity Fund and Arbitration Case Deposits)



As At As At

31.3.2012 EXPENDITURE 31.3.2013

(`) (`)

39,71,456 Establishment 58,40,051

1,26,800 Medical Reimbursement 1,29,135

62,836 Leave Travel Concession 2,87,604

1,52,418 Provision for Retiring Gratuty 1,48,111

3,27,302 Provision for Encashment of Earned Leave 3,62,070

2,59,317 Legal & Professional Expenses 1,34,686

5,000 Hindi Translation Charges 5,000

2,63,540 Contribution to Staff Provident Fund 3,08,293

49,373 Conveyance Expenses 35,534

4,171 Travelling Expenses 0

4,90,312 Postage, Courier and Fax 6,83,855

1,47,499 Telephones Expenses 1,61,501

14,43,758 Payment to FICCI for common sharing exp. 26,06,120

54,135 Staff Welfare Expenses 21,050

3,81,325 Printing & Stationery 5,23,680

1,67,479 Miscellaneous Expenses 1,47,358

39,326 Honorarium to Auditors 39,326

36,427 Membership & Subscription to Journals 34,402

6,221 Hospitality Expenses 16,233

83,235 Annual General Meeting Expenses 1,12,815

787 Insurance Premium 924

36,000 Expenses on Branch Offices 57,000

3,62,839 Journals, Pamphlets & Publications 4,80,838

51,562 Repair & Maintenance 71,623

1,40,844 Expenses on Regional Conferences/Tech. Meetings (for promotion) 45,859

4,34,258 Premium on Purchase of Securities Written Off 4,44,258

44,492 Expenses on Statutory Meetings 5,331

- Loss on Sale of Fixed Assets 8,227

INDIAN COUNCIL OFINCOME & EXPENDITURE ACCOUNT AS AT



ARBITRATION - NEW DELHI31ST MARCH 2013

As At As At

31.3.2012 INCOME 31.3.2013

(`) ( )

5,06,200 Subscription 5,01,450

Interest Earned

(a) On Permanent/Life Membership Subscription

(Gross) (Taxes Deducted at Source

(Rs.NIL) (Previous year Rs. 19,512/-)

- On Savings -

- On Fixed Deposits -

17,99,126 On Investments 18,16,899

(b) On Arbitration Cases Deposits


(Rs.NIL/-) (Previous year Rs.29,644/-)

- On Savings -

9,03,748 On Fixed Deposits 47,54,824

81,59,962 On Investments 80,48,359

(c) On Surplus Amount


(Rs.NIL/-) (Previous year Rs.12,267/-)

10,09,922 On Savings 4,46,546

3,56,580 On Fixed Deposits 17,70,767

27,27,888 On Investments 29,56,917 1,97,94,312

355 (d) On Conveyance loan to Staff 27

16,306 (e) On House Building Advances to Staff 12,863

90,93,674 Income from Arbitration Cases* 83,67,936

3,32,500 Registration Fee for Arbitration Cases 7,50,000

- Fee Received from Conferences -

`



As per our Report to the Members attached separately

For KHANNA & ANNADHANAM

Chartered Accountants

(FRN001297N)

(sd/-)

K A BALASUBRAMANIAN

NEW DELHI Partner

DATE: 20th September, 2013 (Membership No. 17415)

As At As At

31.3.2012 EXPENDITURE 31.3.2013

(`) ( )

4,89,446 Payment to Contracted Staff 6,00,391

- Expenses on Publicity 3,86,462

43 Debt not Realised -

19,689 Fixed Asset Written Off 67,338

1,53,007 Depreciation 1,45,856

1,52,41,364 Excess of Income over Expenditure 1,60,64,813

`



* Income shown is net of Promotional Expenses of Rs.1,31,085/- (Previous Year Rs.61,814/-)

** As approved by Governing Body in its Meeting held on 10-09-2012

2,50,46,261 TOTAL 2,99,75,744

As At As At

31.3.2012 INCOME 31.3.2013

(`) (`)

1,40,000 Miscellaneous Income 2,31,700

- Excess Amount Received on Maturity 1,97,500

- Interest Income on Income Tax Refund 34,248

- Other Liabilities not payable-Written Off** 85,708

(N G Khaitan) (Arun Chawla) (Geeta Luthra) (D. Sengupta)President Member, Member, Additional Director

Governing Body Governing Body

(Sd/-) (Sd/-) (Sd/-) (Sd/-)



2,50,46,261 TOTAL 2,99,75,744

A. ACCOUNTING POLICIES

1. Financial Statement

The Financial Statements have been prepared on accrual basis, excepting to the extent stated elsewhere,and based on applicable accounting standards.

2. Fixed Assets

Fixed Assets are stated at cost less accumulated depreciation.

3. Depreciation

Depreciation on fixed assets is provided on written down value method on prorate basis at the following rates:

Furniture & Fixture 10%

Office Equipment 15%

Air-Conditioner 33.33%

Computer 40%

Fixed asset costing less than Rs. 5000, at the time of purchase are written off to revenue.

4. Investments

The premium paid (excess of price paid over the face value of the securities) is carried to a separate account and amortized during the holding period. However, if the securities have been acquired at a price lower than the face value, the difference is accounted for at the time of sale/maturity.

5. Subscription

a. Membership Subscription is accounted for on cash basis. However, subscription received in advance is carried over and recognized as income in the year to which it pertains.

b. Life Membership Subscription is credited to Life Membership Fund Account and grouped along with Capital Fund account.

6. Fees from Arbitration Cases

a. Income from arbitration cases is recognized when the cases are concluded and closed.

b. Registration fees for arbitration cases are accounted for at the time of registration / receipt.

ACCOUNTING POLICIES & NOTES TO THE ACCOUNTS



7. Employee Benefits

a. Provision for retiring Gratuity payable to eligible employees is made in terms of the policy of the Council.

b. Leave Encashment payment is accounted based on the actual basis.

c. Provident Fund Contributions are accounted for on accrual basis and the amount collected is deposited with provident fund trust account.

8. Arbitration Case Deposit Recievables

Amount due towards deposits from parties to arbitration are accounted on accrual basis and based

on bills raised on them.

B. NOTES TO THE ACCOUNTS

1. Following past practice expenditure incurred on publication / books are charged off in the year in

which they incurred and no value is assigned to unsold publication in hand at the close of the year.

2. (a) The consultant of ICA had informed that various rectification application appeals are pending

to the year 2004-05 to 2010-11 (except for 07-08) which are pending disposal with the

concerned ADIT. Hence, no provision for demand of Rs. 5,32,679 has been considered in the

accounts

(b) Income Tax assessment up to assessment year 2003-2004 has been completed on nil income

basis and refunds received.

3. Previous year figures have been rearranged / regrouped wherever considered necessary.



INDIAN COUNCIL OF ARBITRATIONBALANCE SHEET AS AT



LIABILITIES Amount (`)

CAPITAL FUND Employees' Employers’

CONTRIBUTION ACCOUNT Contribution Contribution

Balance as at 1.4.2012 23,05,033 18,28,754 41,33,787

Add: Contribution during the year 4,62,594 3,08,293 7,70,887

Interest Credited 1,25,539 98,298 2,23,837

Total 28,93,166 22,35,345 51,28,511

LAPSES & FORFEITURES

ACCOUNT (ALLOCATED TO

MEMBERS ACCOUNT)

Balance as at 1.4.2012 11,687

Interest Credited 586

12,273 12,273

SURPLUS INTEREST

(ALLOCATED TO

MEMBERS ACCOUNT)

Balance as at 1.4.2012 18,59,207

Add: Transfer from Unallocated

Interest during the year 2,85,975

21,45,182 21,45,182

SUSPENSE ACCOUNT

(UNALLOCATED

INTEREST)

Balance as at 1.4.2012 4,218

Add: Transfer from Interest

Account during the year 2,81,909

2,86,127

Less: Interest Allocated to

Members during the year 2,85,975 152

SUNDRY CREDITORS

Payable to ex-employee 8,179

EMPLOYEES' PROVIDENT FUND - NEW DELHI31ST MARCH 2013

ASSETS Amount ( )

INVESTMENTS (AT COST)

12.60% Govt. of India-2018

(f.v. Rs.5,00,000/-) 5,00,000

7.40% Syndicate Bank-2015 (f.v. Rs.10 Lakhs) 10,00,000

Fixed Deposit with United Bank of India 25,54,708

Excess over face value paid on Purchase of Securities 1,06,280

Less: Written Off Proportionately 18,090 88,190

Special Deposit with Bank of Baroda, New Delhi 18,97,143

INTEREST ACCRUED ON INVESTMENTS 2,30,403

RECOVERABLE LOANS TO STAFF

Balance as at 1.4.2012 30,163

Add: Interest charged during the year 1,710

Add: Additional Loans during the year 0

31,873

Less: Repayments during the year

Principal 20,483

Interest 1,710 9,680

Income Tax Deducted at Source (Asset) 13,877

`



Notes: 1. Members Contribution is inclusive of

We hereby certify that the above Balance Sheet is true and correct to the best of our information.

Examined and Found Correct

For KHANNA & ANNADHANAM

Chartered Accountants

(FRN001297N)

(Sd/-)

K A BALASUBRAMANIAN

NEW DELHI Partner

DATE: 20th September, 2013 (Membership No. 17415)

Voluntary Contribution from Members

LIABILITIES Amount (`)

INTEREST ACCOUNT

Interest from Bank & Investments 5,26,151

Add: Interest on Loans to Staff 1,710

5,27,861

Less: Credited to Contribution Account as above 2,23,837

Less: Credited to Lapses & Forfeitures Account

as above 586

Less: Loss on Investments written off 18,090

Less: Paid during the year 3,439

Less: Balance transferred to Suspense Account 2,81,909 0

INDIAN COUNCIL OF ARBITRATIONBALANCE SHEET AS AT



TOTAL 72,94,297

(Sd/-) (Sd/-)

A. DIDAR SINGH ARUN CHAWLA

Trustee Trustee

EMPLOYEES' PROVIDENT FUND - NEW DELHI31ST MARCH 2013

ASSETS

BALANCE WITH BANKS

(i) with Bank of Baroda 4,89,199

(ii) with HDFC Bank 4,02,353

(iii) with United Bank of India 1,08,744

Amount (`)



TOTAL 72,94,297

* Since deceased

*Mr. S L Kirloskar 1965-1966

*Mr. Ramanbhai B Amin, Baroda 1966-1967

*Mr. L N Birla, Kolkata 1967-1968

*Rai Bahadur G M Modi, Modinagar 1968-1969

*Dr. Ramnath A Podar, Mumbai 1969-1970

*Mr. D C Kothari, Chennai 1970-1971

Mr. S S Kanoria, Kolkata 1971-1972

*Mr. Madan Mohan Mangaldas, Ahmedabad 1972-1973

*Dr. Charat Ram, New Delhi 1973-1974

*Mr. K K Birla, Kolkata 1974-1975

*Mr. Harish Mahindra, Mumbai 1975-1976

*Mr. M V Arunachalam, Chennai 1976-1977

*Mr. B P Podar, Kolkata 1977-1978

*Mr. Pravinchandra V Gandhi, Mumbai 1978-1979

*Mr. H S Singhania, New Delhi 1979-1980

*Mr. K N Modi, Modinagar 1980-1981

*Mr. Arvind N Lalbhai, Ahmedabad 1981-1982

*Cav G K Devarajulu, Coimbatore 1982-1983

*Mr. A K Jain, Kolkata April-Sept. 1983

*Dr. Bharat Ram, New Delhi 1983-1984

*Mr. A K Jain, Kolkata 1984-1985

Mr. D N Patodia, New Delhi 1985-1986

*Mr. K S G Haja Shareeff, Chennai 1986-1987

PRESIDENTS – PAST AND PRESENT

PRESIDENTS – PAST AND PRESENT

Mr. Rohit C Mehta, Ahmedabad 1987-1988

*Mr. Raunaq Singh, New Delhi 1988-1989

Mr. S K Birla, Kolkata 1989-1990

Dr. V L Dutt, Chennai 1990-1991

Mr. Kantikumar R Podar, Mumbai 1991-1992

*Dr. Bansi Dhar, New Delhi 1992-1993

Mr. A K Rungta, Kolkata 1993-1994

Mr. Deepak Banker, Chennai 1994-1995

*Mr. A S Kasliwal, Mumbai 1995-1996

Mr. K K Modi, New Delhi 1996-1997

Mr. Sudhir Jalan, Kolkata 1997-1998

Mr. G.P. Goenka, Kolkata 1998-1999

Dr. A.C. Muthiah, Chennai 1999-2001

Mr. Chirayu R Amin, Vadodara 2001-2002

*Mr. Rajendra S Lodha, Kolkata 2002-2003

Mr. Yogendra Kr. Modi, Gurgaon 2003-2004

Mr. Onkar S. Kanwar, New Delhi 2004-2005

Mr. Saroj Kumar Poddar, Kolkata 2005-2006

Mr. Habil Khorakiwala, Mumbai 2006-2007

Mr. Rajeev Chandrasekhar, MP, Bengaluru 2007-2008

Mr. Harsh Pati Singhania, New Delhi 2008-2009

Mr. Rajan Bharti Mittal, New Delhi 2009-2010

Mr. N. G. Khaitan, Kolkata 2009-2013

* Since deceased

International Co-operation AgreementsThe Council has established a high international profile to provide legal and arbitration facilities to the users operating in the international commercial world. ICA has signed cooperation agreements with 46 major arbitral organisations around the world.

1. The Board of Trade of Thailand

2. The Korean Commercial Arbitration Association

3. The Yugoslav Chamber of Economy, Belgrade

4. The Bulgarian Chamber of Commerce & Industry, Sofia

5. The Chambers of Commerce and Industry of the socialist Republic of Romania

6. The International Chamber of Commerce, The Court of Arbitration of the International Chamber of Commerce, The Indian National Committee of the International Chamber of Commerce

7. The Asian-African Legal Consultative Committee, The Regional Centre for Arbitration at Kuala Lumpur

8. The Scottish Council for Arbitration

9. The Australian Centre for International Commercial Arbitration

10.The Nederlands Arbitrage Instituut, Rotterdam

11. The Arbitration Institute of the Stockholm chamber of Commerce, Stockholm

12.The American Arbitration Association

13.The Danish Committee of International Arbitrators

14.The Permanent Arbitration Court of the Mauritius Chamber of commerce and Industry

15.The Chamber of Commerce and Industry of the Russian Federation

16.The German Institution of Arbitration

17.The Cairo Regional centre for International Commercial Arbitration

18.The Arbitration Court Attached to the Economic chamber of the Czech Republic

19.The Swiss Arbitration Association

20.The Cameroon committee of Arbitration, Douala

21.Ghana Arbitration Centre

22.Greek Arbitration association, Athens, Greece


23.The Tokyo Maritime Arbitration Commission of the Japan Shipping Exchange, Inc.

24.The Philippine Dispute Resolution Center, Inc.

25.The Arbitration Centre of the Institute for the Development of Commercial Law & Practice Srilanka

26.The Association of Arbitrators, South Africa

27.The Chartered Institute of Arbitrators, London

28.The London Court of International Arbitration

29.The Chamber of National and International Arbitration of Milan

30.The Greek Arbitration Association, Athens, Greece

31.Mediterranean Aritration Council Legal Seat, Milan, Italy

32.The Association of arbitrators of Nigeria, Lagos, Nigeria

33.The WIPO Arbitration and Mediation Center World Intellectual Property Organization, Geneva Switzerland

34.The China International Economic and Trade Arbitration Commission

35.The Chartered Institute of Arbitrators, Kenya Branch

36.The Polish Arbitration Association, Poland

37.The G.C.C. Commercial Arbitration Centre, Bahrain

38.The Bahrain centre for International Commercial Arbitration (BACICA), Bahrain

39.The Federation of Bangladesh Chambers of Commerce & Industry, Dhaka

40.The Arbitration Association of the Republic of China

41.Hong Kong International Arbitration Centre, Hong Kong

42.Venice Chamber of National & International Arbitration, Venice (Italy)

43. Central Chamber of Commerce of Finland

44. Arbitration Centre of the Caracas Chamber of Commerce & Industry, Venezuela

45. International Arbitral Centre of the Austrian Federal Economic Chamber, Vienna, Austria.

46.Association of Arbitration Courts of Uzbekistan

THE INDIAN COUNCIL OF ARBITRATION

The Indian council of Arbitration was established in 1965 and is a specialized arbitral body at the national level sponsored by the Government of India and apex business organisations like the Federation of Indian Chambers of Commerce and Industry and Associated Chambers of Commerce and Industry of India. The Council provides for arbitration facilities with respect to both domestic and foreign trade. Even when both parties are foreign, they may by agreement submit their dispute to arbitration under the rules of the Council. Its membership includes representatives of public, private undertakings and many commercial organizations and institutions apart from experts from various professions like engineers, chartered accountants, lawyers, judges and technocrats.

The main objective of the Indian Council of Arbitration is to promote amicable, quick and inexpensive settlement of commercial disputes by means of conciliation/arbitration. It maintains a panel of arbitrators which includes eminent and expert persons from various lines of trade and professions. The names of suitable persons of foreign nationals are also included in the panel to provide a wide choice to the foreign parties in regard to selection of arbitrators.

The Indian Council of Arbitration has framed its rules of arbitration comparable to international standards for conducting arbitration proceedings. The 1996 Act provides statutory recognition to conciliation as a distinct mode of dispute settlement and contains detailed procedure governing conciliation proceedings. Indian Council of Arbitration has framed its conciliation rules to provide conciliation proceedings in an economical and expeditious manner.

Under the rules of arbitration of the Indian Council of Arbitration, either a sole arbitrator or three arbitrators may be appointed. Where the claim is below one crore rupees, a sole arbitrator is appointed, unless the two parties agree that three arbitrators should be appointed for the particular case. For claims above one crore rupees, three arbitrators are appointed, unless the parties agree that a sole arbitrator may be appointed. The sole arbitrator is appointed by consent of the parties and, failing such consent, the Council appoints the arbitrator. Where three arbitrators have to be appointed, each of the parties appoints one arbitrator and the Council appoints the third arbitrator who acts as the Chairman of the arbitral tribunal. The latter, however, will not act as an umpire, but will have the same powers as the other arbitrators.

Under the ICA Rules of Arbitration for internal trade, the parties can only choose their arbitrators from the list of Panel of Arbitrators maintained by the Council. The list of arbitrators maintained by the Indian Council of Arbitration includes about two thousand persons from various professions and businesses, lawyers, accountants, engineers etc. They are put on the list by the Arbitration Committee after the latter is satisfied about their competence, integrity and impartiality to act as arbitrators. The list also includes foreigners who are resident in India.

The special feature of the rules of arbitration of the Council is the fast track arbitration under which parties may request the Arbitral Tribunal before the commencement of the arbitration proceedings to settle a dispute in a fixed time frame of 3-6 months or any other time frame agreed by the parties.

The arbitral clause recommended by the Council is now being used in domestic commercial contracts as well as in contracts between foreign parties and Indian Government Departments, public sector undertakings or private business organisations. The Government of India has also issued circulars recommending the use of institutional arbitration services of the Indian Council of Arbitration.

Apart from the facilities for arbitration of disputes, the Indian Council of Arbitration provides the following other important services to trade and industry:

1. Advice to interested parties regarding arbitration facilities, arbitration laws and dispute settlement procedures throughout the world;

2. Information and guidance regarding the terms and conditions for inclusion in international trade contracts with a view to protecting the contracts against disputes;

3. Conciliation in trade complaints by Indian parties against foreign counterparts or vice-versa for non-performance of contracts or non-compliance with arbitration awards with a view to sorting out such complaints amicably and quickly;

4. Publication and supply of informative literature on various aspects of the law and practice of commercial arbitration;

5. Assistance in fixation of the venue of arbitration in international disputes. The Council has concluded arbitration service agreements with several arbitral organizations in different countries for the purpose;

6. Assistance in the appointment of arbitrators by the parties. The Council maintains a wide panel including competent and qualified persons well versed in different lines of trade and professions including suitable foreign nationals for facilitating the choice of arbitrators by the parties;

7. It serves as appointing authority under the UNCITRAL Arbitration Rules, and also provides administrative services under those rules at the request of interested parties;

8. Training of business executives regarding the principles, laws and procedures of commercial arbitration. Training courses for business executives, arbitrators, legal and arbitration consultants are conducted by it from time to time in different commercial centres. It also organises in-house training programmes for legal and business executives of public undertakings, companies and firms at their request;

9. Organisation of seminars, conferences, meetings, etc., for the discussion of various aspects of domestic and international commercial arbitration; and

10.Provision of administrative and secretarial services in ad hoc arbitration cases at the request of interested parties.


Set-up | Functions | Activities | Services

Indian Council of ArbitrationFederation House, Tansen Marg, New Delhi - 110 001

Ph. : 91-11-23738760-70, 23719103, 23319849, 23319760, Fax : 23320714, 23721504

E : [email protected], W : www.icaindia.co.inRegd. No. 14282 / 67

ICA REPRESENTATIVE OFFICES

Western Region

Eastern Region

Southern Region

State of Karnataka

State of Andhra Pradesh

State of Rajasthan

Mr. Arvind Pradhan, Director GeneralIndian Merchant's Chamber,IMC Buildings, IMC Marg,76, Veer Nariman Road,Churchgate, Mumbai-400020Ph.: 022-22046633, Fax: 022-22048508

Dr. Rajeev Singh, Director GeneralIndian Chamber of Commerce,4, India Exchange Place, Kolkata-700001Ph.: 033-22303242; Fax: 022-22213377

Mr. S. Raghvan, SecretarySouthern India Chamber of Commerce & Industry,Indian Chambers Buildings, Esplanade Road,Opp. High Court of Chennai, Chennai-600018,Ph.: 044-25342228-29; Fax: 044-25341876

Mr. Sudarshan Tirunarayan, Secretary GeneralFederation of Karnataka Chambers of Commerce and Industry, Federation House, Kempegowda Road, Bangalore-560009Ph.: 080-22262157, 22262355/56, Fax: 080-22251826

Mrs. P. Vydehi, Secretary General (I/C),Federation of Andhra Pradesh Chambers of Commerce and Industry,Federation House,11-6-841, FAPCCI Marg, Red Hills, Hyderabad-500004Ph.: 040-23395515 (10 Lines);Fax: 040-23395525

Dr. K.L. Jain, Secretary GeneralRajasthan Chambers of Commerce & Industry, Rajasthan Chamber Bhawan, M.I. Road, Jaipur-302003Ph.: 0141-2565163, 2567899, Fax: 0141-2561419

State of Kerala

State of Maharashtra

State of Orissa

State of Gujarat

North-East States

State of Uttar Pradesh

Mr. S.A. Mansoor, SecretaryKerala Chamber of Commerce & Industry,Chamber Corner, Shanmughan Road, Cochin-682031Ph.: 0484-2354885, 2380950, Fax: 0484-2374253

Mr. Anant Sardeshmukh, Addl. Director GeneralMahratta Chamber of Commerce, Industry & Agriculture, Tilak Marg, Pune-411002Ph.: 020-24440371, 24440472, Fax: 020-24447902

Mr. Kedar Pattnaik, Hon. SecretaryUtkal Chambers of Commerce & Industry,301, Vandana Apartments, Vivekananda Marg,Bhubaneshwar-751002Ph.: 0674-2301211, 2344056, Fax: 2302059

Mr. Hasmukh Hingu, Secretary GeneralGujarat Chamber of Commerce & Industry Sri Ambica Mills, Gujarat Chamber Building, Ashram Road, Ahmedabad-380009Ph.: 079-26560257, Fax: 079-2407992

Mr. D.K. Sharma, Secretary,North-East Chamber of Commerce & Industry, Zoo Road Tiniali, Opp. Geeta Nagar Police Station,Guwahati-781024Ph.: 0361-2417074, Fax: 0361-2410461

Mrs. Anita Jha, Secretary General,Merchants' Chamber of Uttar Pradesh, 14/76, Civil Lines,Kanpur-208 001Ph.: 0512-2531306, 2532729, 253087


annual report 2012-2013 - INDIAN COUNCIL OF ARBITRATION

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Transcript of annual report 2012-2013 - INDIAN COUNCIL OF ARBITRATION