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.
INDIAN COUNCIL OF ARBITRATION
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INDIAN COUNCIL OF ARBITRATION
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
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 3
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
Ministry of Commerce
Room No.279A
Udyog Bhawan
New Delhi-110011
5. Mr. M K Sharma
Joint Secretary & Legal Advisor
Department of Legal Affairs
Ministry of Law & Justice
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.
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 4
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
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 5
Mr. D K Singh
Additional Director General
Directorate General of Foreign Trade
Room No. 10, H Wing
Ministry of Commerce
Udyog Bhawan
New Delhi-110011 …Nominee of Govt. of India
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 …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
of Commerce & Industry
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
of Commerce & Industry
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.
th 48 ANNUAL REPORT 2012-13 6
INDIAN COUNCIL OF ARBITRATION
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
th 48 ANNUAL REPORT 2012-13 7
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.
INDIAN COUNCIL OF ARBITRATION
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 8
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 ad- hoc 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
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 9
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
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 10
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
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 11
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.
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 12
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.
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 13
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.
Office : The Indian Council of Arbitration
(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
Email : [email protected]
Representative Office in the Eastern Region
States : West Bengal, Tripura, Assam,
Meghalaya, Nagaland, Sikkim, Orissa,
Bihar, Arunachal Pradesh, Manipur.
Office : The Indian Council of Arbitration
(Eastern Region),
c/o, Indian Chamber of Commerce,
India Exchange, 4, India Exchange
Place,
Kolkata - 700 001.
Phone : 033-22303242
Fax : 033-22213377
Email : [email protected]
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 14
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
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
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 18
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
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 19
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
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 20
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/-)
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 21
INDIAN COUNCIL OF ARBITRATION
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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
6 In 8.07% Govt. of India Security - 2017 43,00,000 43,00,000
7 In 8.35% Govt. of India Security - 2022 25,00,000 25,00,000
8 In 9.00% Govt. of India Security - 2013 10,00,000 10,00,000
9 In 10.25% Govt. of India Security - 2021 35,00,000 35,00,000
10 In 11.43% Govt. of India Security - 2015 20,00,000 20,00,000
11 In 8.15% Central Bank of India-2015 9,55,500 9,55,500
12 In 7.94% Govt. of India Security - 2021 28,90,500 28,90,500
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
22 In 10.20% State Bank of India - 2022 40,00,000 40,00,000
23 In 9.08% Allahabad Bank-2019 29,93,700 29,93,700
24 In 10.10% State Bank of India - 2022 20,00,000 20,00,000
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)
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 23
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
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 24
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
(Gross) (Taxes Deducted at Source
(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
(Gross) (Taxes Deducted at Source
(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 -
`
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 25
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
`
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 26
* 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/-)
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 27
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
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 28
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 ARBITRATION
th 48 ANNUAL REPORT 2012-13 29
INDIAN COUNCIL OF ARBITRATIONBALANCE SHEET AS AT
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 30
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
`
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 31
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
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 32
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 (`)
INDIAN COUNCIL OF ARBITRATION
th 48 ANNUAL REPORT 2012-13 33
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
INDIAN COUNCIL OF ARBITRATION
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.
INDIAN COUNCIL OF ARBITRATION
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
INDIAN COUNCIL OF ARBITRATION
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