Mumbai Financial capital of India is likely to get the International Arbitration Centre. This will be the India’s first arbitration centre for dealing the financial disputes.
The financial disputes of India were dealt in the Singapore Arbitration centre, now with the establishment of the International arbitration centre in Mumbai it will be a boon to the Indian companies Out of the 259 cases registered at Singapore arbitration centre in 2013, 85 were from Indian companie Most of the arbitration cases from India are over dispute between private equity firms and investee companies, and in some instances, the dispute is between family members.
- According to the people involved in the Mumbai project, every finance centre -be it in Singapore, Dubai, Hong Kong or London -has the support of an international arbitration center. It is estimated that an Indian company or promoter is involved in more than a fifth of arbitration cases filed every year in Singapore.
- Mumbai Governor – Ch. Vidyasagar Rao
So lets do:
- Who is the Governor of Maharastra?
- Recently which state set up International arbitration centre?
Source – The Hindu