CURRENT AFFAIRS

Detailed explanation-1: -The Federation of Indian Corporate Lawyers (FICL) signed a memorandum of understanding (MoU) with the Singapore International Arbitration Centre (SIAC) on 26 November to promote international arbitration as a preferred method for resolving global disputes.

Detailed explanation-2: -The transaction documents were governed by Indian law providing for all disputes to be resolved by arbitration pursuant to the SIAC Rules with New Delhi as the seat of the arbitration.

Detailed explanation-3: -Delhi International Arbitration Centre (DIAC) – New Delhi.

Detailed explanation-4: -The International Arbitration and Mediation Centre, a first-of-its-kind, is located in Hyderabad-the capital city of Telangana, India. Hyderabad is one of Asia’s fastest growing cities, with key industries like IT, pharmaceuticals and biotechnology contributing to its economy.

Detailed explanation-5: -At IDAC India we provide dispute resolution guidance in particular in matters of arbitration between two Indian Parties or between Indian parties and foreign parties. IDAC India charges nominal fees strictly adhering to recommended fees structure as per Arbitration and Conciliation Act, 1996 in its latest amendment.