Annual Report-2003-2004 - Indian Council of Arbitration
Annual Report-2003-2004 - Indian Council of Arbitration
Annual Report-2003-2004 - Indian Council of Arbitration
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OUR MENTOR<br />
“<br />
I realized that the true function <strong>of</strong> a lawyer was<br />
to unite parties... A large part <strong>of</strong> my time during the<br />
20 years <strong>of</strong> my practice as a lawyer was occupied in<br />
bringing about private compromises <strong>of</strong> hundreds <strong>of</strong><br />
cases. I lost nothing thereby - not even money,<br />
certainly not my soul<br />
”<br />
......Mahatma Gandhi<br />
INDIA’S APEX ARBITRAL INSTITUTION<br />
Costly, time-consuming business disputes can take a real bite out <strong>of</strong> your<br />
company’s bottom line. That’s why more and more companies are turning<br />
to the <strong>Indian</strong> <strong>Council</strong> <strong>of</strong> <strong>Arbitration</strong>, the undisputed leader in dispute<br />
resolution services in India. For over 38 years, the <strong>Indian</strong> <strong>Council</strong> <strong>of</strong><br />
<strong>Arbitration</strong> has been providing users <strong>of</strong> arbitration with an unrivaled array<br />
<strong>of</strong> time-tested services that include ICA <strong>Arbitration</strong>, ICA Conciliation and<br />
ICA Maritime, as well as education and training programs. Coupled with<br />
our quality case administration and panel <strong>of</strong> arbitrators, ICA is the one<br />
resource for all your dispute resolutions needs.<br />
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PRESIDENT’S REVIEW<br />
The need for a method providing quicker and economical<br />
resolution <strong>of</strong> disputes as against conventional method <strong>of</strong> litigation<br />
has given rise to the popularity <strong>of</strong> Alternative Dispute Resolution<br />
methods (ADR). Various Institutions have come up providing<br />
such services. <strong>Indian</strong> <strong>Council</strong> <strong>of</strong> <strong>Arbitration</strong> as India’s Apex<br />
Arbitral Institution has been given the responsibility <strong>of</strong> promoting<br />
ADR methods in India. And I am proud to say that ICA has been<br />
fulfilling this responsibility with positive results.<br />
It was an year <strong>of</strong> hectic activity to sow the seeds for the future growth <strong>of</strong> this organization<br />
and to become one <strong>of</strong> the foremost organizations in the world. It is up to you all and<br />
the coming years to see to the maturing <strong>of</strong> the ideas that we have planted.<br />
The Ministry <strong>of</strong> Commerce had recommended the use <strong>of</strong> ICA <strong>Arbitration</strong> Clause to<br />
PSU’s and various government departments. This has certainly been the most important<br />
feather in the cap. This, I am sure will improve the overall dispute resolution scenario.<br />
Various Conferences were organized not only to bring awareness among the masses<br />
about the recent developments but also to elicit and to develop India’s stand regarding<br />
various issues in the field <strong>of</strong> ADR. ICA has also brought about new as well as revised<br />
and updated versions <strong>of</strong> its earlier publications with extensive information on the<br />
arbitration regime in different countries, UNCITRAL Model Law and the <strong>Indian</strong> Law.<br />
A model Code <strong>of</strong> Conduct for the arbitrators has been launched. ICA has also started<br />
<strong>of</strong>f setting up infrastructure facilities and requirements for providing Online Dispute<br />
Resolution Services. We will continue to work in this direction to improve our services<br />
in the future.<br />
There is a need for evolving a stand point and policy decision to project India as a<br />
good venue for International Commercial <strong>Arbitration</strong>. Our primary goal for the future<br />
is to strengthen our position in order to become the arbitration hub <strong>of</strong> South-East<br />
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Asia. To accomplish this, we have focused on management innovation projects and<br />
programs. These include an expansion <strong>of</strong> cyber activities to encompass all facets <strong>of</strong><br />
arbitration, sustained public awareness campaigns and broader more active international<br />
cooperation efforts.<br />
To strengthen international arbitration cooperation and R&D that will nurture our<br />
<strong>Council</strong> into global arbitration center in South Asia, we intend to improve our cooperation<br />
with arbitration agencies in neighboring countries. We will also study arbitration laws<br />
and regulations <strong>of</strong> arbitration organizations in advanced countries and investigate their<br />
arbitration procedures to actively incorporate them into the development <strong>of</strong> our<br />
arbitration system.<br />
It is with confidence in the future and in the national and organizational vision that I<br />
ask for your continued support and patronage. I urge you to learn about the advantages<br />
<strong>of</strong> alternative dispute resolution, as widespread use <strong>of</strong> the process will lead to a more<br />
efficient, more productive global economy.<br />
Yogendra Kr. Modi<br />
President<br />
<strong>Indian</strong> <strong>Council</strong> <strong>of</strong> <strong>Arbitration</strong><br />
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A C T I V I T I E S<br />
Page<br />
I. Thirty-Eighth <strong>Annual</strong> General Meeting .............................................................................................. 1<br />
II. Election <strong>of</strong> President and Members <strong>of</strong> the Governing Body <strong>of</strong> the <strong>Council</strong> ........................................ 2<br />
III. Election <strong>of</strong> Sr. Vice President and Vice President <strong>of</strong> the <strong>Council</strong> ...................................................... 2<br />
IV. Co-option <strong>of</strong> Members on the Governing Body .................................................................................. 2<br />
V. Government nominees .................................................................................................................... 2<br />
VI. FICCI representatives on the <strong>Council</strong> and the Governing Body .......................................................... 3<br />
VII. Office Bearers and Members <strong>of</strong> the Governing Body for the year <strong>2003</strong>-<strong>2004</strong> ..................................... 3<br />
VIII. Meetings <strong>of</strong> the Governing Body ....................................................................................................... 6<br />
IX. Meetings <strong>of</strong> the <strong>Arbitration</strong> Committee .............................................................................................. 6<br />
X. Meetings <strong>of</strong> the Membership Screening Committee.......................................................................... 6<br />
XI. Meeting <strong>of</strong> the Maritime <strong>Arbitration</strong> Committee ................................................................................. 6<br />
XII. Colloquium on “Accelerating Institutional <strong>Arbitration</strong>” - January 6, <strong>2004</strong> - New Delhi .......................... 7<br />
XIII. Seminar on “<strong>Arbitration</strong> for Resolving Business Disputes” - February 7, <strong>2004</strong> - Hyderabad ............... 7<br />
XIV.<br />
Conference on “Alternative Dispute Resolution in the Light <strong>of</strong> the International<br />
Business Scenario” - February 21, <strong>2004</strong> - Pune ............................................................................... 7<br />
XV.<br />
Meetings <strong>of</strong> Expert Group on <strong>Arbitration</strong> - February 7, <strong>2004</strong>, Hyderabad and<br />
February 21, <strong>2004</strong>, Pune .................................................................................................................. 8<br />
XVI. Conference on “The <strong>Arbitration</strong> and Conciliation (Amendment) Bill, <strong>2003</strong>” -<br />
March 13, <strong>2004</strong> - Mumbai ................................................................................................................ 8<br />
XVII. “Australia-India Legal Dialogue” - March 15-16, <strong>2004</strong> - New Delhi ..................................................... 8<br />
XVIII.<br />
Conference on “Role <strong>of</strong> Institutional <strong>Arbitration</strong>: IPR; IT; Maritime &<br />
Construction Industry” - March 20, <strong>2004</strong> - Chennai ........................................................................... 9<br />
XIX.<br />
First Meeting <strong>of</strong> the Inter-Governmental Expert Group (IGEG) on Investment and<br />
<strong>Arbitration</strong> - March 22-23, <strong>2004</strong> - New Delhi ..................................................................................... 9<br />
XX. First International Symposium on “Strengthening Mediation and <strong>Arbitration</strong> Centres” -<br />
September 2-3, <strong>2004</strong> - Chamonix (France) .................................................................................... 10<br />
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XXI. Conference on “Role <strong>of</strong> Institutional <strong>Arbitration</strong>: IPR & IT” -<br />
September 14, <strong>2004</strong> - Bangalore .................................................................................................... 10<br />
XXII.<br />
Interactive Meeting with Dr. Robert Briner, Chairman, ICC International Court <strong>of</strong><br />
<strong>Arbitration</strong> - October 18, <strong>2004</strong> - New Delhi....................................................................................... 11<br />
XXIII.<br />
Conference on “Trends in International Commercial <strong>Arbitration</strong> & its relevance in<br />
India” - October 18-19, <strong>2004</strong> - New Delhi ......................................................................................... 11<br />
XXIV. Meeting <strong>of</strong> the ICA Western Regional Executive Committee - October 20, <strong>2004</strong> - Mumbai ............. 12<br />
XXV.<br />
Interactive Meeting on “India entering the main stream at International <strong>Arbitration</strong><br />
and problems facing that entry” - October 20, <strong>2004</strong> - Mumbai ......................................................... 12<br />
XXVI.<br />
Conference on “Is This the Time to Review <strong>Arbitration</strong> Law in<br />
India” - October 21, <strong>2004</strong> - Mumbai .............................................................................................. 12<br />
XXVII. <strong>Arbitration</strong> Service Agreements ...................................................................................................... 13<br />
XXVIII. ICA <strong>Arbitration</strong> Quarterly ................................................................................................................. 13<br />
XXIX. Publications <strong>of</strong> the <strong>Council</strong> ............................................................................................................. 13<br />
XXX.<br />
<strong>Arbitration</strong> Services <strong>of</strong> the <strong>Council</strong> in Settlement <strong>of</strong> Commercial Disputes - Domestic<br />
and International ............................................................................................................................. 13<br />
XXXI. Conciliation in International Trade Complaints ................................................................................ 14<br />
XXXII. Advisory Services <strong>of</strong> the <strong>Council</strong>..................................................................................................... 14<br />
XXXIII. Regional Offices <strong>of</strong> the <strong>Council</strong> ....................................................................................................... 14<br />
XXXIV. Library ............................................................................................................................................ 15<br />
XXXV. Provident Fund <strong>of</strong> the <strong>Council</strong> ......................................................................................................... 15<br />
XXXVI. Membership <strong>of</strong> the <strong>Council</strong> ............................................................................................................. 15<br />
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ICA ACTIVITIES<br />
The Governing Body <strong>of</strong> the <strong>Council</strong> have pleasure in will be used more <strong>of</strong>ten in Institutional as well as Ad-hoc<br />
presenting to the Thirty-nineth <strong>Annual</strong> General Meeting arbitration. Time has come when steps are to be taken<br />
<strong>of</strong> the <strong>Council</strong>, a report <strong>of</strong> the activities undertaken by for providing speedy and inexpensive justice to the people.<br />
the <strong>Council</strong> during the year <strong>2003</strong>-<strong>2004</strong>, alongwith the Arbitral Institutions are required today as provider <strong>of</strong><br />
Statement <strong>of</strong> Accounts for the year ending 31st March, Alternative Dispute Resolution (ADR) services for quicker,<br />
<strong>2004</strong> duly audited by the Auditors, M/s. Khanna & less costly, and consensual resolution <strong>of</strong> civil disputes<br />
Annandhanam, Chartered Accountants, New Delhi. outside the crowded court system. The ICA is doing a<br />
good job in this regard. He hoped that the coming years<br />
I) Thirty-Eighth <strong>Annual</strong> General Meeting would be years <strong>of</strong> “Conciliation, Mediation and <strong>Arbitration</strong>”<br />
The 38th <strong>Annual</strong> General Meeting <strong>of</strong> the <strong>Council</strong> was<br />
and not <strong>of</strong> “Litigation.<br />
held on January 6, <strong>2004</strong> at New Delhi. Apart from the Dr. L M Singhvi, M.P. in his address emphasized the<br />
members <strong>of</strong> the <strong>Council</strong>, the <strong>Annual</strong> General Meeting need to change the mindset <strong>of</strong> the arbitrators as well as<br />
was attended by Retd. Judges, Legal Pr<strong>of</strong>essionals and the users <strong>of</strong> arbitration in respect <strong>of</strong> commercial<br />
represetatives <strong>of</strong> trade and industry. The meeting was arbitration. He felt the need to create a commercial<br />
presided over by the ICA President. In his Address, the culture <strong>of</strong> resort to arbitration instead <strong>of</strong> litigation. With<br />
President observed that with a view to expend and achieve the adoption <strong>of</strong> the UNCITRAL Model Law on Commercial<br />
the efficacy <strong>of</strong> arbitration, ICA have taken several steps, <strong>Arbitration</strong>, he felt that India can become a centre for<br />
which include: adopting a mission statement for the International Commercial <strong>Arbitration</strong> as it has enough<br />
ICA for achieving <strong>Arbitration</strong>, which is Low Cost, Efficient, human resource and physical facilities.<br />
Simple, Just, User Friendly, Trust Worthy, Equitable and<br />
Serviceable; bring out a Code <strong>of</strong> Conduct with the aim<br />
Mr. Yogendra Kr. Modi, Sr. Vice President <strong>of</strong> the <strong>Council</strong><br />
<strong>of</strong> establishing a set <strong>of</strong> standards for the <strong>Arbitration</strong><br />
proposed Votes <strong>of</strong> Thanks to the Chief Guest. In his<br />
Committee, Arbitrators, Parties and Counsel. It is meant<br />
address Mr. Modi emphasised that institutionalized<br />
to achieve greater self-regulation, speed and discipline;<br />
arbitration is advantageous over ad hoc arbitration as<br />
ICA has taken the lead towards introducing “Online<br />
only the supervision <strong>of</strong> arbitral institutions can<br />
Dispute Resolution”. ICA ODR should be a true<br />
successfully ensure that proper procedures are followed<br />
symbiosis <strong>of</strong> I.T. and <strong>Arbitration</strong>; ICA also plans to provide<br />
in arbitration proceedings and that finally justice is<br />
arbitral services to resolve IT related disputes.<br />
provided in a speedy, just and fair manner.<br />
The <strong>Annual</strong> General Meeting unanimously adopted<br />
Mr. Justice V N Khare, Chief Justice <strong>of</strong> India, in his<br />
the <strong>Annual</strong> <strong>Report</strong> <strong>of</strong> the <strong>Council</strong> for the year 2002-<strong>2003</strong><br />
Inaugural Address observed that ICA Code <strong>of</strong> Conduct<br />
and the audited accounts for the year ending<br />
would be a guide to arbitration making it a successful<br />
31st March <strong>2003</strong>. The results <strong>of</strong> election <strong>of</strong> President<br />
process <strong>of</strong> dispute resolution. He wished that this Code<br />
and the members <strong>of</strong> the Governing Body conducted<br />
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according to Bye-Laws for Election <strong>of</strong> the <strong>Council</strong> were<br />
announced at the <strong>Annual</strong> General Meeting.<br />
III)<br />
Election <strong>of</strong> Sr. Vice President and Vice<br />
President <strong>of</strong> the <strong>Council</strong>.<br />
II) Election <strong>of</strong> President and Members <strong>of</strong> the<br />
Governing Body <strong>of</strong> the <strong>Council</strong>.<br />
President :<br />
The Governing Body <strong>of</strong> the <strong>Council</strong> unanimously elected<br />
Mr. Yogendra Kr. Modi, Chairman, YKM Holdings,<br />
Gurgaon, nominee <strong>of</strong> FICCI, as President <strong>of</strong> the <strong>Council</strong><br />
for the year <strong>2003</strong>-<strong>2004</strong> at their meeting held on 6th<br />
January <strong>2004</strong> as per Rule 13 <strong>of</strong> the Rules and<br />
Regulations <strong>of</strong> the <strong>Council</strong>. Accordingly, Mr. Yogendra<br />
Kr. Modi was declared elected as President <strong>of</strong> the <strong>Council</strong><br />
for the year <strong>2003</strong>-<strong>2004</strong> at the <strong>Annual</strong> General Meeting <strong>of</strong><br />
the <strong>Council</strong>.<br />
Election <strong>of</strong> Representatives <strong>of</strong> Members on the<br />
Governing Body:<br />
The election <strong>of</strong> representatives <strong>of</strong> the members in different<br />
constituencies was conducted as per Bye-Laws for<br />
Election <strong>of</strong> the <strong>Council</strong>. As a result <strong>of</strong> Election, the<br />
following members were declared elected at the <strong>Annual</strong><br />
General Meeting.<br />
Mr. D M Popat, Chairman, Law & Company Affairs<br />
Committee <strong>of</strong> the <strong>Indian</strong> Merchants’ Chamber was<br />
declared elected uncontested in the Foundation Members’<br />
Constituency. Mr. Rakesh Shah, Committee Member,<br />
Bharat Chamber <strong>of</strong> Commerce and Mr. Y P Trivedi, Legal<br />
Adviser, Maharashtra Chamber <strong>of</strong> Commerce & Industry<br />
were declared elected uncontested in the Ordinary<br />
Members’ Constituency. Mr. S K Bangur, Chairman, Fort<br />
Gloster Industries Ltd., Mr. Amit Goradia, Director,<br />
Paushak Limited and Mr. Ashok Sharma, General<br />
Manager (Law), MMTC Ltd. were declared elected<br />
uncontested in the Associate Members’ Constituency.<br />
Mr. Ravinder Singhania, Advocate was declared elected<br />
in the Individual Members’ Constituency.<br />
The Governing Body <strong>of</strong> the <strong>Council</strong> elected<br />
Mr. Onkar S. Kanwar as Senior Vice-President <strong>of</strong> the<br />
<strong>Council</strong> and Mr. D M Popat, as Vice President <strong>of</strong> the<br />
<strong>Council</strong>, for the year <strong>2003</strong>-<strong>2004</strong>.<br />
IV) Co-option <strong>of</strong> Members on the Governing<br />
Body<br />
The Governing Body <strong>of</strong> the <strong>Council</strong> co-opted<br />
Mr. A K Rungta, Past President, ICA, Mr. C P Jain,<br />
Chairman,SCOPE and Mr. Justice B N Kirpal as<br />
members <strong>of</strong> the Governing Body <strong>of</strong> the <strong>Council</strong> for the<br />
year <strong>2003</strong>-<strong>2004</strong> under Rule 16(b) <strong>of</strong> the Rules &<br />
Regulations <strong>of</strong> the <strong>Council</strong>.<br />
The Governing Body also decided to invite Mr. F S Nariman<br />
and Mr. Soli J. Sorabjee, as special invitees to the<br />
Governing Body. In addition, the Governing Body decided<br />
to invite all the former Presidents <strong>of</strong> the <strong>Council</strong> who<br />
have held the <strong>of</strong>fice <strong>of</strong> the President <strong>of</strong> the <strong>Council</strong> to the<br />
meetings <strong>of</strong> the Governing Body.<br />
V) Government nominees<br />
Under the Rules and Regulations <strong>of</strong> the <strong>Council</strong>, Govt. <strong>of</strong><br />
India is entitled to nominate five representatives on the<br />
<strong>Council</strong> and three nominees on the Governing Body <strong>of</strong><br />
the <strong>Council</strong> from among the five nominated<br />
representatives. The Ministry <strong>of</strong> Commerce have<br />
nominated following <strong>of</strong>ficials as Government’s nominees<br />
on the <strong>Council</strong>.<br />
1. Mr. Anil Swaroop<br />
Export Commissioner<br />
Office <strong>of</strong> DGFT<br />
New Delhi<br />
2. Mr. K N Bhat<br />
Sr. Advocate<br />
New Delhi<br />
2<br />
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Colloquium on Accelerating Institutional <strong>Arbitration</strong><br />
January, <strong>2004</strong> – New Delhi<br />
Mr. Yogendra Kr. Modi, President ICA<br />
Mr. Yogendra Kr. Modi, President ICA with<br />
Dr. L. M. Singhvi, Member <strong>of</strong> Parliament<br />
Mr. Yogendra Kr. Modi, President ICA with<br />
Hon’ble Justice V.N. Khare, Chief Justice <strong>of</strong> India<br />
Mr. Yogendra Kr. Modi, President<br />
ICA, addressing the Colloquium<br />
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Colloquium on Accelerating Institutional <strong>Arbitration</strong><br />
January, <strong>2004</strong> – New Delhi<br />
Hon’ble’ Justice V.N. Khare,<br />
Chief Justice <strong>of</strong> India, delivering the inaugural address<br />
Mr. Yogendra Kr. Modi, President ICA<br />
with Hon’ble’ Justice V.N. Khare Chief Justice <strong>of</strong> India<br />
and Dr. L.M. Singhvi<br />
A view <strong>of</strong> the Dias<br />
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Dr. L.M. Singhvi, Member <strong>of</strong> Parliament,<br />
addressing the Colloquium<br />
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3. Mr. Augustine Peter<br />
Director<br />
Trade Policy Division<br />
Ministry <strong>of</strong> Commerce<br />
New Delhi-110 011<br />
4. Dr. P S Rao<br />
Joint Secretary & Legal Adviser<br />
L & T Divison<br />
Ministry <strong>of</strong> External Affairs<br />
New Delhi.<br />
5. Mr. V K Bhasin<br />
Addl. Legislative Counsel<br />
Deptt. Of Legislative Affairs<br />
Ministry <strong>of</strong> Law<br />
New Delhi.<br />
Among the above five Government nominees,<br />
Mr. Augustine Peter, Dr. P S Rao and Mr. V K Bhasin<br />
were nominated by the Govt. on the Governing Body <strong>of</strong><br />
the <strong>Council</strong>.<br />
VI) FICCI representatives on the <strong>Council</strong> and<br />
the Governing Body<br />
The FICCI nominated Mr. Yogendra Kr. Modi, Mr. Onkar<br />
S. Kanwar and Dr. Amit Mitra as its representatives on<br />
the <strong>Council</strong> under Rule 3(b) <strong>of</strong> the Rules and Regulations<br />
<strong>of</strong> the <strong>Council</strong>, in substitution <strong>of</strong> its earlier nominations.<br />
Mr. Onkar S Kanwar and Dr. Amit Mitra have been<br />
nominated by the FICCI as members <strong>of</strong> the Governing<br />
Body <strong>of</strong> the <strong>Council</strong> as per Rule 16(c) <strong>of</strong> the rules and<br />
regulations <strong>of</strong> the <strong>Council</strong>.<br />
Mr. Yogendra Kr. Modi ........ .................... President<br />
Chairman<br />
YKM Holdings<br />
Gurgaon<br />
Mr. Onkar S Kanwar ........................ ... Sr. President<br />
Chairman & Mg. Director<br />
Apollo Tyres Ltd.<br />
Gurgaon<br />
Mr. D M Popat ...................................Vice President<br />
Sr. Partner<br />
Mulla & Mulla & Craigie Blunt & Caroe<br />
Mumbai<br />
Foundation Members<br />
Dr. Amit Mitra<br />
Secretary-General,<br />
Federation <strong>of</strong> <strong>Indian</strong> Chambers <strong>of</strong> Commerce &<br />
Industry,<br />
Federation House, Tansen Marg,<br />
New Delhi - 110 001.<br />
Mr. D M Popat<br />
Sr. Partner,<br />
Mulla & Craigie Blunt & Caroe,<br />
Jehangir Wadia Building,<br />
51, M G Road,<br />
Mumbai - 400 023.<br />
Mr. A V Lodha<br />
Chartered Accountant,<br />
M/s. Lodha & Company,<br />
21, Esplanade Mansion,<br />
14, Government Place East,<br />
Calcutta - 700 001.<br />
Mr. M K Garg<br />
VII) Office Bearers and Members <strong>of</strong> the<br />
Advisor,<br />
Governing Body for the year <strong>2003</strong>-<strong>2004</strong><br />
Associated Chamber <strong>of</strong> Commerce and Industry<br />
The Governing Body <strong>of</strong> the <strong>Council</strong> for the year<br />
147-B, Gautam Nagar<br />
<strong>2003</strong>-<strong>2004</strong> comprised <strong>of</strong> the following:<br />
Gulmohar Enclave<br />
New Delhi - 110 049.<br />
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Mr. C N Gangadaran<br />
Past President<br />
The Southern India Chamber <strong>of</strong> Commerce & Industry,<br />
<strong>Indian</strong> Chamber Building,<br />
6, Esplanade Road,<br />
Chennai - 600 108.<br />
Mr. Augustine Peter<br />
Director<br />
Trade Policy Division,<br />
Ministry <strong>of</strong> Commerce,<br />
Government <strong>of</strong> India,<br />
Udyog Bhawan,<br />
New Delhi - 110 011.<br />
Mr. V K Bhasin<br />
Addl. Legislative Counsel,<br />
Deptt. Of Legislative Affairs,<br />
Ministry <strong>of</strong> Law,<br />
Shastri Bhavan,<br />
New Delhi.<br />
Dr. P S Rao<br />
Joint Secretary & Legal Adviser<br />
L & T Division,<br />
Ministry <strong>of</strong> External Affairs,<br />
417, ISIL, Opp. Supreme Court,<br />
Bhagwan Das Road,<br />
New Delhi.<br />
Ordinary Members<br />
Mr. Rakesh Shah<br />
Partner<br />
Nipha Enterprises<br />
48, Ganga Jamuna<br />
28/1, Shakespeare Sarani<br />
Kolkata - 700 017.<br />
Mr. Lalit Kumar Modi<br />
President<br />
Modi Enterprises,<br />
Nirlon House, Dr. Annie Besant Road<br />
Worli Mumbai - 400 025.<br />
Mr. Lalit Bhasin<br />
M/s. Bhasin & Co.<br />
10, Hailey Road,<br />
New Delhi - 110 001.<br />
Mr. Suresh Bindal<br />
Hony. General Secretary,<br />
Delhi Hindustani Mercantile<br />
Association (Regd),<br />
1210/16, Chandni Chowk,<br />
Delhi - 110 006.<br />
Mr. K S Suresh<br />
Legal Adviser<br />
Bharat Chamber <strong>of</strong> Commerce<br />
3, Fountain Court<br />
7/1, LittleRussell St.<br />
Kolkata-700 071<br />
Associate Members<br />
Mr. S K Bangur<br />
Chairman<br />
Fort Gloster Industries Ltd.,<br />
31, Chowringhee Road,<br />
Kolkata - 700 016.<br />
Mr. Ashok Sharma<br />
G.M. (Law), Law Division,<br />
The MMTC Limited,<br />
Core No. 1, IInd Floor,<br />
SCOPE Complex, Lodi Road,<br />
New Delhi - 110 003.<br />
Mr. Y P Trivedi<br />
Legal Adviser,<br />
Maharashtra Chamber <strong>of</strong><br />
Commerce & Industry,<br />
23, ‘Atlanta’ Nariman Point,<br />
Mumbai - 400 021.<br />
4<br />
Mr. Amit Goradia<br />
Director<br />
M/s Paushak Limited,<br />
78, Suryakiran Complex,<br />
Old Padra Road,<br />
Vadodara - 390 015.<br />
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<strong>Arbitration</strong> for Resolving Business Disputes<br />
February, <strong>2004</strong> - Hyderabad<br />
Pr<strong>of</strong>. V. Nageswara Rao, addressing the Seminar<br />
Mr. Gopala Choudhary, Advocate,<br />
addressing Seminar<br />
Mrs. Suchitra, Advocate, addressing the Seminar<br />
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Alternative Dispute Resolution in the Light <strong>of</strong> the<br />
International Business Scenario – February, <strong>2004</strong> - Pune<br />
Hon’ble Justice Radhakrishnan, Judge, Bombay<br />
High Court delivering the inaugural Address.<br />
Mr. D.M. Popat, Vice President, ICA, delivering<br />
the Welcome Address<br />
Hon’ble Justice Vazifdar, Judge, Bombay High Court, chairing the Business Session<br />
Conference on “The <strong>Arbitration</strong> and Conciliation (Amendment) Bill, <strong>2003</strong>”<br />
March, <strong>2004</strong> – Mumbai<br />
Justice A P Shah, Judge, Bombay High Court, having<br />
an informal meeting<br />
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Hon’ble Justice A.P. Shah, Judge, Bombay High<br />
Court delivering the inaugural address<br />
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Mr. R S Lodha<br />
Sr. Partner<br />
Lodha & Company,<br />
14, Government Place East,<br />
Kolkata - 700 069.<br />
Mr. D D Rathi<br />
Group Executive President,<br />
Grasim Industries Limited,<br />
(Corporate Finance Division)<br />
91, Sakhar Bhawan, 9th Floor,<br />
230, Nariman Point,<br />
Mumbai - 400 021.<br />
Mr. Vikram Kapur<br />
President,<br />
Atlas Cycle (Haryana) Ltd.<br />
3, Aurangzeb Lane,<br />
New Delhi - 110 011.<br />
Mr. A Santhanakrishnan<br />
Director & Secretary,<br />
Southern Petrochemical Industries,<br />
Corporation Ltd.<br />
SPIC Centre,<br />
97, Mount Road, Guindy,<br />
Chennai - 600 032.<br />
Individual Members<br />
Mr. O P Goel<br />
Director-General (Retd.) CPWD<br />
B-11/8091, Vasant Kunj,<br />
New Delhi.<br />
Mr. P C Markanda<br />
Sr. Advocate<br />
94, Sector 16-A,<br />
Chandigarh - 160 016.<br />
Mr. R A Poddar<br />
Chief Executive,<br />
Godfrey Philips India Limited,<br />
Four Square House,<br />
49, Community Centre,<br />
New Friends Colony,<br />
New Delhi - 110 065.<br />
Mr. K Sethuraman<br />
Vice President (Corporate Secretariat)<br />
Reliance Industries Ltd.<br />
3rd Floor, Maker Chambers IV<br />
222, Nariman Point<br />
Mumbai-400 021<br />
Mr. Yakesh Anand<br />
Advocate<br />
466, Lawyers Chambers,<br />
Delhi High Court,<br />
New Delhi - 110 003.<br />
Mr. Ravinder Singhania<br />
Advocate<br />
M/s. Singhania & Co.<br />
B-92, 9th Floor, Himalaya House<br />
23, Kasturba Gandhi Marg<br />
New Delhi-110 001.<br />
Co-opted Members<br />
Mr. N G Khaitan<br />
Partner<br />
Khaitan & Partners<br />
1-B, Old Post Office Street,<br />
Kolkata - 700 001.<br />
Mr. A K Rungta<br />
Chairman<br />
Rungta Enterprises<br />
225-D, Acharya J. Bose Road<br />
Kolkata.<br />
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Mr. C P Jain<br />
Chairman<br />
Standing Conference on Public<br />
Enterprises (SCOPE)<br />
SCOPE Complex, Core No. 7<br />
7, Institutional Area, Lodhi Road<br />
New Delhi-110 003.<br />
Mr. Justice B N Kirpal<br />
Former Chief Justice <strong>of</strong> India<br />
64, Jor Bagh<br />
New Delhi-110 003.<br />
Special Invitees<br />
Mr. F S Nariman<br />
Hon. Chairman, ICCA and<br />
Member Rajya Sabha<br />
F-21/22, Hauz Khas Enclave<br />
New Delhi-110 016<br />
Mr. Soli J. Sorabjee<br />
Sr. Advocate and<br />
Former Attorney General <strong>of</strong> India<br />
134, Sunder Nagar<br />
New Delhi-110 003<br />
VIII) Meetings <strong>of</strong> the Governing Body<br />
The Governing Body <strong>of</strong> the <strong>Council</strong> held three meetings<br />
to consider and formulate the work programme <strong>of</strong> the<br />
<strong>Council</strong> during the year.<br />
IX) Meetings <strong>of</strong> the <strong>Arbitration</strong> Committee<br />
The <strong>Arbitration</strong> Committee <strong>of</strong> the <strong>Council</strong> for the year<br />
<strong>2003</strong>-<strong>2004</strong> comprised <strong>of</strong> Mr. Yogendra Kr. Modi, Ex-<strong>of</strong>ficio<br />
Chairman, Mr. Onkar S Kanwar, Sr. Vice-President,<br />
Mr. D M Popat, Vice-President, Mr. Justice B N Kirpal,<br />
Mr. C K Tikku and Mr. D P Sharma as members <strong>of</strong> the<br />
Committee. The <strong>Arbitration</strong> Committee <strong>of</strong> the <strong>Council</strong><br />
held three meetings to appoint arbitrators in arbitration<br />
cases referred to the <strong>Council</strong> and to approve the<br />
applications for the panel <strong>of</strong> arbitrators.<br />
X) Meetings <strong>of</strong> the Membership Screening<br />
Committee<br />
The Governing Body <strong>of</strong> the <strong>Council</strong> constituted a<br />
Membership Screening Committee consisting <strong>of</strong><br />
Mr. Yogendra Kr. Modi, Ex-Officio Chairman, Mr. Onkar<br />
S. Kanwar, Mr. D M Popat, Mr. Justice B N Kirpal,<br />
Dr. Amit Mitra and Mr. Vikram Kapur, as members, to<br />
expedite the approval <strong>of</strong> the applications <strong>of</strong> organisations/<br />
persons for membership <strong>of</strong> the <strong>Council</strong>. The Membership<br />
Screening Committee held three meetings to approve<br />
the applications for membership to the <strong>Council</strong> and other<br />
matters.<br />
(XI) Meeting <strong>of</strong> the Maritime <strong>Arbitration</strong><br />
Committee<br />
A meeting <strong>of</strong> the Maritime <strong>Arbitration</strong> Committee was<br />
held on March 4, <strong>2004</strong> in New Delhi. The Maritime<br />
Committee apart from approving the names <strong>of</strong> persons<br />
for empanelment in the Maritime Category <strong>of</strong> panel <strong>of</strong><br />
arbitrators also decided to enhance the arbitrator’s fee<br />
and administrative fee effective from April 1, <strong>2004</strong>. The<br />
committee also decided to circulate the ICA Code <strong>of</strong><br />
Conduct among the shipping company and shipping<br />
companies to inform that the ICA has framed the following<br />
schedule within which a maritime case should be<br />
completed.<br />
(i) Completion <strong>of</strong> the pleadings within six months from<br />
the date <strong>of</strong> registration.<br />
(ii) The hearing to commece within two months from<br />
the date <strong>of</strong> completion <strong>of</strong> the pleadings.<br />
(iii) Within six months thereafter the proceedings be<br />
concluded and the number <strong>of</strong> hearings be restricted<br />
to 3 or at the most 4.<br />
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Role <strong>of</strong> Institutional <strong>Arbitration</strong>: IPR; Maritime &<br />
Construction Industry – March, <strong>2004</strong> - Chennai<br />
Dr. V L Dutt, Past President, ICA delivering<br />
the Welcome Address<br />
Hon’ble Mr. Justice V S Sirupurkar,<br />
Judge, Madras High Court, delivering<br />
the inaugural address<br />
Mr. V Ramachandran, Sr. Advocate, proposing the<br />
Vote <strong>of</strong> Thanks to the Chief Guest<br />
A view <strong>of</strong> the Business Session<br />
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Australia – India Legal Dialogue<br />
March, <strong>2004</strong> – New Delhi<br />
1 2<br />
3 4<br />
1 Mr. Onkar S Kanwar, Sr. Vice President, ICA,<br />
delivering the Welcome Address<br />
2 Mr. Onkar S Kanwar, Sr. Vice President, ICA,<br />
Welcoming Hon’ble Mr. Justice R C Lahoti, Chief<br />
Justice <strong>of</strong> India<br />
5<br />
3 Hon’ble Mr. Justice R C Lahoti, Chief Justice <strong>of</strong><br />
India, delivering the Welcome Address<br />
4 Hon’ble Mr Soli J Sorabjee, Attorney General <strong>of</strong><br />
India delivering the Key note address<br />
5 Dr. David Bennett, Solicitor- General <strong>of</strong> Australia<br />
delivering the Key Note Address<br />
6<br />
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6 Hon’ble Sir Laurence Street, AC KCMG QC,<br />
Chairman ILSAC, addressing the Press Conference<br />
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XII) Colloquium on “Accelerating Institutional<br />
<strong>Arbitration</strong>” - January 6, <strong>2004</strong> - New Delhi<br />
The advantages <strong>of</strong> Institutional <strong>Arbitration</strong> are well known<br />
but it is really sad to see that the vastly operating adhoc<br />
arbitrations are undermining the credibility <strong>of</strong> Institutional<br />
arbitration as a whole. ICA came out with its Code <strong>of</strong><br />
Conduct, which will make the arbitral tribunal accountable.<br />
With a view to accelearate the pace <strong>of</strong> Institutional<br />
<strong>Arbitration</strong> in the country ICA organized a Colloquium on<br />
“Accelerating Institutional <strong>Arbitration</strong>” on January 6, <strong>2004</strong><br />
in New Delhi. Hon’ble Mr. Justice V N Khare, Chief Justice<br />
<strong>of</strong> India inaugurated the Colloquium and also released<br />
ICA Books on “<strong>Arbitration</strong> & Conciliation Law <strong>of</strong> India”<br />
and “ICA Code <strong>of</strong> Conduct”. Dr. L M Singhvi, M.P.<br />
addressed the Colloquium and released ICA Books on<br />
“<strong>Arbitration</strong> Made Easy” (Hindi Version) and “Case Law<br />
on UNCITRAL Convention on Contracts for The<br />
International Sale <strong>of</strong> Goods - with reference to<br />
Corresponding Provisions <strong>of</strong> India Law”. In his inaugural<br />
address Mr. Justice V N Khare observed that the idea <strong>of</strong><br />
use <strong>of</strong> arbitral institutions for arbitration has already gained<br />
a strong footing at international level. Business<br />
communities are appreciating the usefulness <strong>of</strong> these<br />
centers in obtaining efficient resolution <strong>of</strong> dispute and<br />
are also realizing the importance <strong>of</strong> incorporating<br />
arbitration clauses in their contracts.<br />
Arbitral institutions are necessary because the<br />
evolutionary growth <strong>of</strong> arbitration has always been through<br />
growth and development <strong>of</strong> arbitral institutions sponsored<br />
by trading, commercial and industrial bodies and<br />
government bodies and government departments and<br />
United Nations at national and international level.<br />
XIII) Seminar on “<strong>Arbitration</strong> for Resolving<br />
Business Disputes” - February 7, <strong>2004</strong> -<br />
Hyderabad.<br />
The ICA in association with Federation <strong>of</strong> Andhra Pradesh<br />
Chambers <strong>of</strong> Commerce and Industry organized a<br />
Seminar on “<strong>Arbitration</strong> for Resolving Business Disputes”<br />
on February 7, <strong>2004</strong> at Hyderabad. Pr<strong>of</strong>. Koteswara Rao,<br />
President, FAPCCI, delivered the Welcome Address.<br />
The topics that were discussed at the seminar<br />
include: Has the <strong>Arbitration</strong> & Conciliation Act, 1996<br />
based on UNCITRAL - Model Law helped, Courts<br />
Annexed <strong>Arbitration</strong> & Mediation (Section 89 <strong>of</strong> the Code<br />
<strong>of</strong> Civil Producedure), Drafting <strong>Arbitration</strong> Agreements in<br />
Compelx Business Transactions and Why Arbitral<br />
Institutional Matter The Seminar was addressed by<br />
Mr. M R K Chowdhary, Sr. Counsel, High Court <strong>of</strong> Andhra<br />
Pradesh, Mr. B. Adinarayana Rao, Advocate, High Court<br />
<strong>of</strong> Andhra Pradesh, Dr. V. Nageswara Rao, Pr<strong>of</strong>essor <strong>of</strong><br />
Law (Retd.), Osmania University, Hyderabad,<br />
Ms. K. Suchitra, Advocate, High Court <strong>of</strong> Andhra Pradesh<br />
and Mr. K. Gopal Chowdary, Sr. Counsel, High Court <strong>of</strong><br />
Andhra Pradesh. The Seminar was attended by about<br />
80 delegates.<br />
XIV) Conference on “Alternative Dispute<br />
Resolution in the Light <strong>of</strong> the<br />
International Business Scenario” -<br />
February 21, <strong>2004</strong> - Pune.<br />
The ICA in association with Maharatta Chamber<br />
<strong>of</strong> Commerce Agriculture & Industries organized<br />
a Conference on “Alternative Dispute Resolution in<br />
the Light <strong>of</strong> the International Business Scenario” on<br />
February 21, <strong>2004</strong> at Pune. Hon’ble Mr. Justice<br />
Radhakrishnan, Judge, High Court <strong>of</strong> Mumbai<br />
inaugurated the Conference. In his inaugural address<br />
he emphasized the need for mediation and<br />
concliation before going into litigation. He also stated<br />
that conciliation should be made a mandatory provision.<br />
Hon’ble Mr. Justice Vazifdar, Judge, High Court <strong>of</strong><br />
Mumbai, delivered the Key Note Address. In his<br />
key-note address he asserted that practical limitations<br />
should be taken into consideration before taking up a<br />
legal process. He also suggested that institutes like<br />
the ICA should form a body and conduct a series <strong>of</strong><br />
discussions where technical issues could be discussed<br />
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that would help in resolving issues in a shorter duration.<br />
Mr. D M Popat, Vice-President, ICA, delivered the<br />
Welcome Address. In his Welcome Address he said that<br />
there is a need to create awareness about conciliation<br />
and arbitration. He indicated that students <strong>of</strong> law should<br />
realise that they have a social obligation and should not<br />
look at issues from just a legal perspective but act as a<br />
medium <strong>of</strong> conciliation. The Conference was addressed<br />
by Mr. Shreekant Kanitkar, Advocate, Mr. Hitesh Jain,<br />
Advocate and Mr. Uday Chitale, Chartered Accountant.<br />
The Conference was attended by about 60 delegates.<br />
XV) Meetings <strong>of</strong> Expert Group on <strong>Arbitration</strong><br />
- February 7, <strong>2004</strong>, Hyderabad and<br />
February 21, <strong>2004</strong>, Pune.<br />
With a view to plan for the future activities <strong>of</strong> the ICA in<br />
the States <strong>of</strong> Andhra Pradesh and Maharashtra, ICA<br />
organized meetings <strong>of</strong> Expert Group on <strong>Arbitration</strong> on<br />
February 7, <strong>2004</strong> at Hyderabad and on February 21, <strong>2004</strong><br />
at Pune. The Expert Group meetings were attended by<br />
specialist on arbitration including Retd. Judges and the<br />
<strong>of</strong>fice bearers <strong>of</strong> the local chambers. The Expert Group<br />
Meeting at Pune was Chaired by Mr. D M Popat,<br />
Vice President, ICA.<br />
XVI) Conference on “The <strong>Arbitration</strong> and<br />
Conciliation (Amendment) Bill, <strong>2003</strong>” -<br />
March 13, <strong>2004</strong> - Mumbai.<br />
The ICA in collaboration with <strong>Indian</strong> Merchants’<br />
Chamber organized a Conference on “The<br />
<strong>Arbitration</strong> and Conciliation (Amendment) Bill, <strong>2003</strong>”<br />
on March 13, <strong>2004</strong> at Mumbai. Hon’ble Mr. Justice A P<br />
Shah, Judge, High Court <strong>of</strong> Mumbai inaugurated<br />
the Conference. Mr. D M Popat, Vice-President, ICA<br />
delivered the Welcome Address. In his welcome address<br />
Mr. D M Popat observed that the essence <strong>of</strong> <strong>Arbitration</strong><br />
and Conciliation Act, 1996 is to minimise judicial<br />
intervention (See Statement <strong>of</strong> Objects and Reasons <strong>of</strong><br />
the <strong>Arbitration</strong> and Conciliation Bill, <strong>2003</strong>). The proposal<br />
<strong>of</strong> every High Court having its own <strong>Arbitration</strong><br />
Rules goes counter to this basic concept. Why<br />
cannot Model Rules be framed on all India basis<br />
Or why cannot the Rules <strong>of</strong> an accredited<br />
Institution like <strong>Indian</strong> <strong>Council</strong> <strong>of</strong> <strong>Arbitration</strong> be<br />
taken as accepted Rules. Hon’ble Mr. Justice B P Saraf,<br />
Retd. Chief Justice, Jammu & Kashmir High Court<br />
and Hon’ble Mr. Justice D R Dhanuka, Retd. Judge,<br />
High Court <strong>of</strong> Mumbai chaired the Business Sessions.<br />
The Conference was addressed by Mr. Raffiq Dada,<br />
President Bombay High Court Bar Association,<br />
Mr. Janak Dwarkadas, Sr. Advocate and Mr. Ketan Parikh,<br />
Advocate. The Conference was attended by about 100<br />
delegates.<br />
XVII) “Australia - India Legal Dialogue” -<br />
March 15-16, <strong>2004</strong> - New Delhi<br />
The ICA in association with FICCI and Attorney-General’s<br />
Department <strong>of</strong> Australia organized an “Australia-India<br />
Legal Dialogue” on March 15-16, <strong>2004</strong> at New Delhi.<br />
Hon’ble Mr. Justice R C Lahoti, Judge, Supreme Court<br />
<strong>of</strong> India inaugurated the Dialogue on March 15, <strong>2004</strong>.<br />
Mr. Soli J. Sorabjee, Attorney General for India and<br />
Dr. David Bennett, Solicitor-General <strong>of</strong> Australia<br />
delivered the Key Note Address. Mr. Onkar S Kanwar,<br />
Sr. Vice-President, ICA in his Welcome Address observed<br />
that the legal pr<strong>of</strong>ession and Legal education have an<br />
important role to play in Dispute Resolution. Massess<br />
have to be educated and made aware <strong>of</strong> ADR and its<br />
advantages compared to Litigation. Members <strong>of</strong> the Legal<br />
pr<strong>of</strong>ession are some <strong>of</strong> the most important players in<br />
arbitration and even in other methods <strong>of</strong> ADR. The<br />
dialogue brings the two on the same platform and gives<br />
the scope to discuss and conceive ideas for growth and<br />
development <strong>of</strong> dispute resolution, the legal pr<strong>of</strong>ession<br />
as well as legal education in India. The Dialogue was<br />
addressed by Mr. Kirit Rawal, Solicitor-General <strong>of</strong> India,<br />
Mr. Fali S. Nariman, President, Bar Association <strong>of</strong> India,<br />
Mr. D V Subba Rao, Chairman, Bar <strong>Council</strong> <strong>of</strong> India and<br />
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Australia – India Legal Dialogue<br />
March, <strong>2004</strong> – New Delhi<br />
1 2<br />
3 4<br />
1 Mr. Moolchand Sharma, Director, National Law Institute<br />
University, Chairing the Session on Legal Education<br />
2 Mr. G L Sanghi, Sr. Advocate, Chairing the Business<br />
Session - I<br />
3 Hon. Sir Laurence Street, AC KCKG QC, Chairman<br />
ILSAC, Chairing the Business Session - II<br />
4 Mr. Kirti Rawal, Former Solicitor General <strong>of</strong> India,<br />
addressing the Plenary Session<br />
5 Pr<strong>of</strong>. Michael Coper, Rep. <strong>Council</strong> <strong>of</strong> Australian Law Deans,<br />
Australia National University, addressing the Session on Legal<br />
Education, Practical Legal Training (PLT) & Continuing<br />
Legal Education (CLE)<br />
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Role <strong>of</strong> Institutional <strong>Arbitration</strong>: IPR & IT<br />
September, <strong>2004</strong> – Bangalore<br />
Mr. Yogendra Kr. Modi, President ICA,<br />
Welcoming Hon’ble Mr. Justice N K Jain,<br />
Chief Justice, Karnataka High Court<br />
Mr. D M Popat, Vice President ICA,<br />
proposing the Vote <strong>of</strong> thanks<br />
Mr. Yogendra Kr. Modi, President ICA,<br />
delivering the Welcome Address<br />
Left to Right: Mr. G K Kwatra,<br />
Mr. Yogendra Kr. Modi, Mr Justice N K Jain,<br />
Mr. MN Suresh (President FKCCI),<br />
Mr. Lalit Bhasin (Member, ICA Governing<br />
Body) & Mr. S N Agarwal (Member,<br />
FICCI Committee)<br />
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Pr<strong>of</strong>. Madhav Menon, Noted Educationist. Mr. D M Popat use institutional arbitration since adhoc arbitration<br />
Vice President, ICA addressed the working session does not usually give the desired results due to<br />
on “Commercial Dispute Resolution & ADR”. The some inherent problems. On the other hand in case<br />
Dialogue was also addressed by Dr. David Bennett <strong>of</strong> arbitral institutions, there is a blueprint <strong>of</strong><br />
AO QC, Solicitor-General <strong>of</strong> Australia, The Hon. procedures to be followed, a list <strong>of</strong> reputed<br />
Sir Laurence Street, AC KCMG QC, Chairman, ILSAC, arbitrators from whom to select, choice <strong>of</strong> venue<br />
Mr. Glenn Ferguson, Law <strong>Council</strong> <strong>of</strong> Australia & President, based on the party’s convenience and most<br />
Queens Land Law Society.<br />
importantly - time tested and experience based<br />
rules, which the party can incorporate into their<br />
At the time <strong>of</strong> Australia-India Legal Dialogue a session<br />
agreements without waste <strong>of</strong> any resource (such<br />
on “Legal Education, Practical Legal Training (PLT) &<br />
as time or manpower). This is due to the basic<br />
Continuing Legal Education (CLE) concurrent with a<br />
principle <strong>of</strong> arbitration - which is saving time.<br />
parallel session on “Trans-national Legal Practice and<br />
<strong>Arbitration</strong> is most commonly resorted to in<br />
Commercial Legal Practice Development and<br />
different fields like IP, IT, Maritime and Construction<br />
Commercial Dispute Resolution & ADR” was also<br />
Industries and in other fields such as oil and gas<br />
organized. The session was addressed by Mr.Moolchand<br />
and the corporate sector. Mr. V Ramachandran,<br />
Sharma, Director, National Law Institute University,<br />
Sr. Advocate proposed the Vote <strong>of</strong> Thanks to<br />
Bhopal and Pr<strong>of</strong>. Michael Coper, Rep. <strong>Council</strong> <strong>of</strong><br />
the Chief Guest and also chaired the Session:<br />
Australian Law Deans & Dean, Faculty <strong>of</strong> Law, Australian<br />
Intellectual Property Rights and Information<br />
National University”. The Dialogue was attended by about<br />
Technology Disputes, Maritime and Construction<br />
100 delegates.<br />
Industry Disputes. The Conference was<br />
addressed by Mr. Rajnikanth Madhavan,<br />
XVIII) Conference on “Role <strong>of</strong> Institutional<br />
Mr. Ashok Kumar Anchalia, Capt. Pullat,<br />
<strong>Arbitration</strong>: IPR; IT; Maritime &<br />
Dr. R. Sunitha Sundar and Mr. C H Gopinatha Rao.<br />
Construction Industry” - March 20, <strong>2004</strong><br />
The Conference was attended by more than<br />
- Chennai.<br />
80 participants.<br />
The ICA in association with Southern India Chamber<br />
<strong>of</strong> Commerce & Industry organized a Conference on XIX) First Meeting <strong>of</strong> the Inter - Governmental<br />
“Role <strong>of</strong> Institutional <strong>Arbitration</strong>: IPR; IT; Maritime Expert Group (IGEG) on Investment and<br />
& Construction Industry” on March 20, <strong>2004</strong> at Chennai. <strong>Arbitration</strong>-March 22-23, <strong>2004</strong>-New Delhi.<br />
Hon’ble Mr. Justice V S Sirupurkar, Judge, Madras High<br />
The first Meeting <strong>of</strong> the Inter - Governmental Expert Group<br />
Court inaugurated the Conference. Mr. Justice Sirupurkar<br />
(IGEG) on Investment and <strong>Arbitration</strong> was held on March<br />
in his inaugural address requested ICA to join hands with<br />
22 - 23, <strong>2004</strong> at New Delhi. The meeting was attended<br />
High Court <strong>of</strong> Madras in educating the Judicial Officers<br />
by Government representatives <strong>of</strong> all members’ states.<br />
in the State <strong>of</strong> Tamilnadu on the techniques <strong>of</strong><br />
Mr. Shashank, Foreign Secretary, Ministry <strong>of</strong> External<br />
<strong>Arbitration</strong> & Mediation. Mr. R Veeramani, President,<br />
Affairs, Government <strong>of</strong> India, inaugurated the meeting.<br />
SICCI delivered the introductory Address and<br />
Dr. V L Dutt, Past President, ICA delivered the At the request <strong>of</strong> the Ministry <strong>of</strong> Commerce, Govt. <strong>of</strong><br />
Welcome Address. In his Welcome Address, India, the Executive Director, ICA made a presentation<br />
Dr. V L Dutt observed that the current trend is to on the concept paper on “SAARC <strong>Arbitration</strong> <strong>Council</strong>”<br />
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and emphasized on the need to constitute the SAARC<br />
<strong>Arbitration</strong> <strong>Council</strong>.<br />
XX) First International Symposium on<br />
“Strengthening Mediation and <strong>Arbitration</strong><br />
Centres” - September 2-3, <strong>2004</strong> -<br />
Chamonix (France).<br />
The International Trade Centre <strong>of</strong> UNCTAD/WTO<br />
organized the first International Symposium on<br />
“Strengthening Mediation and <strong>Arbitration</strong> Centres” at<br />
Chamonix, France on 2-3 September <strong>2004</strong> with special<br />
focus on institutions in developing economies. The<br />
purpose <strong>of</strong> the Symposium was to address, from a<br />
practical standpoint, the challenges facing dispute<br />
resolution centres in efficiently delivering their services<br />
at the national level. The subjects discussed were as<br />
follows:<br />
- Structure <strong>of</strong> an arbitration and mediation<br />
centre;<br />
- Management and financing <strong>of</strong> the<br />
centre;<br />
- Administering arbitration services;<br />
- Diversifying the services <strong>of</strong>fered;<br />
- New fields (sports, creative arts, internet, etc.);<br />
- Small Claims;<br />
- Promotion Marketing;<br />
- Relations with the business community;<br />
- Co-operation/Co-ordination with other<br />
arbitration centres and<br />
- <strong>Arbitration</strong> and mediation clinics.<br />
The international Trade Centre (ITC) brought together more<br />
than 60 directors/participants <strong>of</strong> centres from 50<br />
developing and developed countries at this symposium.<br />
In addition to many new centres some <strong>of</strong> the world’s<br />
foremost institutions in the field were present, including<br />
the International Chamber <strong>of</strong> Commerce; the International<br />
Federation <strong>of</strong> Commercial <strong>Arbitration</strong> Institutions; and the<br />
UN Commission on International Trade Law, whose model<br />
law on arbitration forms the basis <strong>of</strong> national legislation<br />
in more than 40 countries.<br />
Mr. D M Popat, Vice-President, ICA and Mr. G K Kwatra,<br />
Executive Director, ICA, addressed the Symposium.<br />
XXI) Conference on “Role <strong>of</strong> Institutional<br />
<strong>Arbitration</strong>: IPR & IT” - September 14,<br />
<strong>2004</strong> - Bangalore.<br />
The ICA in association with FICCI and FKCCI organised<br />
a Conference on “Role <strong>of</strong> Institutional <strong>Arbitration</strong>: IPR &<br />
IT” on September 14, <strong>2004</strong> at Bangalore. Hon’ble Mr.<br />
Justice N K Jain, Chief Justice, Karnataka High Court,<br />
inaugurated the Conference. In his inaugural address he<br />
emphasized on the importance <strong>of</strong> the institutional<br />
arbitration particularly in International Commercial<br />
disputes. While referring to the other arbitral institutions<br />
<strong>of</strong> the world, he specially made a mention <strong>of</strong> the ICA<br />
which he believed is the only recognized arbitral institution<br />
in India. He also appealed to the arbitral institutions for<br />
training various pr<strong>of</strong>essionals on the arbitration procedure.<br />
Mr. Yogendra Kr. Modi, President, ICA delivered the<br />
Welcome Address. In his address, Mr. Modi said that<br />
institutional arbitration is becoming particularly important<br />
for sections such as information technology and for<br />
issues relating to IPR. Such Sectors and issues are<br />
characterized by international transactions, where the<br />
law applicable vary from country to country and involve a<br />
high level <strong>of</strong> specialization in the domain concerned.<br />
Mr. Modi requested the Hon’ble Chief Justice to consider<br />
designating well recognized arbitral institutions like ICA<br />
and made them a part <strong>of</strong> the scheme under Section 11<br />
<strong>of</strong> the <strong>Arbitration</strong> & Conciliation Ac, 1996. This would<br />
mitigate such delays as ICA provides for complete dispute<br />
resolution services with quality case administration and<br />
10<br />
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Trends in International Commercial <strong>Arbitration</strong> &<br />
Its relevance in India – October , <strong>2004</strong> – New Delhi<br />
Mr. Yogendra Kr. Modi, President ICA,<br />
Welcoming Mr. Kapil Sibal,<br />
Hon’ble Minister <strong>of</strong> State (Independent<br />
Charge) for Science & Technology<br />
Mr. Yogendra Kr. Modi, President ICA,<br />
delivering the Welcome address<br />
Mr. Yogendra Kr. Modi, President ICA,<br />
Welcoming Mr. Fali S Nariman, Vice<br />
Chairman, ICC International Court <strong>of</strong><br />
<strong>Arbitration</strong><br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
Mr. Fali S Nariman, Vice Chairman, ICC<br />
International Court <strong>of</strong> <strong>Arbitration</strong> giving brief<br />
interlude on the Conference.<br />
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Trends in International Commercial <strong>Arbitration</strong> &<br />
Its relevance in India – October , <strong>2004</strong> – New Delhi<br />
Mr. Kapil Sibal, Hon’ble Minister <strong>of</strong> State<br />
(Independent Charge) for Science & Technology,<br />
inaugurating the Conference<br />
Dr. Robert Briner, Chairman, ICC International<br />
Court <strong>of</strong> <strong>Arbitration</strong>, delivering the key-note address<br />
Mr. Suresh A Kotak, Vice President, ICC India,<br />
proposing the Vote <strong>of</strong> Thanks<br />
Interactive Meeting with Dr. Robert Briner, Chairman,<br />
ICC International Court <strong>of</strong> <strong>Arbitration</strong> – October, <strong>2004</strong> – New Delhi<br />
Dr. Robert Briner, Chairman, ICC International Court <strong>of</strong> <strong>Arbitration</strong>, addressing the Interactive<br />
meeting. Also seen ( Mr. Suresh 39TH ANNUAL A Kotak, REPORT EMS Natchiappan, <strong>2003</strong>-04 and Mr. G K Kwatra)<br />
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with rules taking care <strong>of</strong> all the fundamental and also<br />
ensuring expeditious process. Mr. Manandi N. Suresh,<br />
President, FKCCI gave the introductory remarks and<br />
Mr. D M Popat, Vice President, ICA proposed the Vote<br />
<strong>of</strong> Thanks. The topics <strong>of</strong> the Conference were; Why<br />
Institutional <strong>Arbitration</strong> matters, <strong>Arbitration</strong> and<br />
Mediation in IPR Disputes, Information Technology<br />
Dispute Resolution and Interim Measures & Enforcement<br />
<strong>of</strong> Awards. The Conference amongst others was<br />
addressed by Mr. Lalit Bhasin, Member, Governing Body,<br />
ICA, Pr<strong>of</strong>. V Nagraj, National Law School <strong>of</strong> India,<br />
Mr. G Raghavan, Managing Partner, Dua Associates,<br />
Mr. C Thiruvengadam, Advocate, Mr.Prithmesh D Popat,<br />
Advocate and Mr. Aditya Sondhi, Advocate. The<br />
Conference was attended by about 100 persons.<br />
XXII) Interactive Meetings with Dr. Robert<br />
Briner, Chairman, ICC International<br />
Court <strong>of</strong> <strong>Arbitration</strong> - October 18, <strong>2004</strong> -<br />
New Delhi & October 20, <strong>2004</strong> - Mumbai.<br />
The ICA & ICC India organized Interactive Meeting with<br />
Dr. Robert Briner, Chairman, ICC International Court <strong>of</strong><br />
<strong>Arbitration</strong> on 18th October <strong>2004</strong> at New Delhi. Besides<br />
interacting with Dr. Briner on other issues the issue on<br />
“Framing <strong>of</strong> <strong>Arbitration</strong> Clauses in the International<br />
Commercial <strong>Arbitration</strong>” was discussed in detail.<br />
XXIII) Conference on “Trends in International<br />
Commercial <strong>Arbitration</strong> & its relevance in<br />
India” - October 18-19, <strong>2004</strong> - New Delhi.<br />
A Conference on “Trends in International Commercial<br />
<strong>Arbitration</strong> & its relevance in India” was organized on<br />
October 18-19, <strong>2004</strong> at New Delhi. Mr. Kapil Sibal,<br />
Hon’ble Minister <strong>of</strong> State (Independent Charge) for<br />
Science & Technology and Department <strong>of</strong> Ocean<br />
Development inaugurated the Conference. The<br />
Conference was addressed by Dr. Robert Briner,<br />
Chairman, ICC International Court <strong>of</strong> <strong>Arbitration</strong>,<br />
Paris, Mr. Fali S. Nariman, Member <strong>of</strong> Parliament &<br />
Vice-Chairman. The topics <strong>of</strong> the Conference were;<br />
Provisional/Interim Measures - how should the arbitration<br />
law in India develop,Enforceability <strong>of</strong> awards; Dispute<br />
Boards in the context <strong>of</strong> ICC Dispute Board Rules,<br />
Criminal Law and <strong>Arbitration</strong>.<br />
Mr. Yogendra Kr. Modi, President, ICA delivered the<br />
Welcome Address which provided a brief background on<br />
the theme <strong>of</strong> the Conference. He laid emphasises on<br />
the importance <strong>of</strong> international dispute resolution<br />
mechanism which has assumed greater significance with<br />
growth in international trade and economic development.<br />
Mr.Fali S Nariman, Member <strong>of</strong> Parliament, Vice Chair,<br />
ICC International Court <strong>of</strong> <strong>Arbitration</strong> and Sr. Advocate,<br />
Supreme Court gave a brief interlude on the Conference,<br />
emphasizing that arbitration should be the preferred<br />
method <strong>of</strong> dispute resolution and that there is a need to<br />
faster growth <strong>of</strong> an international arbitration culture and to<br />
constrantly keep abreast <strong>of</strong> global developments in<br />
Intetnational Commercial <strong>Arbitration</strong>.<br />
The key note address was presented by Dr. Robert Briner,<br />
Chairman, ICC International Court <strong>of</strong> <strong>Arbitration</strong>, Paris,<br />
wherein he provided a brief history <strong>of</strong> arbitration dating<br />
back to almost 200 years. He stated that there was a<br />
demand for knowledgeable arbitrators, having specialized<br />
expertise in complex and intricate commercial matters,<br />
and a need for good case management to ensure speedy<br />
and cost effective dispute resolution. He also briefly<br />
touched upon areas <strong>of</strong> concern facing arbitration, such<br />
as the criminal aspect like money laundering,<br />
confidentiality issues etc.<br />
Hon’ble Minister Mr. Kapil Sibal delivered a thought<br />
provoking inaugrual address urging the business<br />
community to ‘arbitrate and not litigate’ and to opt for<br />
speedy and efficacious proceedings provided by arbitral<br />
institutions rather than adhoc arbitration. He concluded<br />
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with the hope that the coming years would be <strong>of</strong> The meeting was attended by apart from members<br />
‘conciliation, mediation and arbitration’.<br />
<strong>of</strong> the Western Regional Executive Committee, by<br />
Dr. Robert Briner, Chairman, ICC International Court<br />
The first session, chaired by Dr. Robert Briner, witnessed<br />
<strong>of</strong> <strong>Arbitration</strong> and members <strong>of</strong> the Law Committee <strong>of</strong><br />
eminent speakers such as Mr. Jagdeep Dhankar,<br />
IMC. Dr. Robert Briner in his address complimented the<br />
Ms. Bhavna Kohli and Mr. D M Popat,Vice President,<br />
ICA for propagating the cause <strong>of</strong> arbitration by organizing<br />
ICA discuss the scope <strong>of</strong> Arbitrators’ powers with regard<br />
number <strong>of</strong> activities on different subjects <strong>of</strong> topical<br />
to providing interim relief. Hon’ble Mr. Justice R S Pathak,<br />
importance. The committee discussed the future<br />
chaired the second session which had distinguished<br />
activities to be organized in the Western Region.<br />
speakers such as Mr. Dipankar Gupta, Mr. S K Dholakia<br />
and Mr. P H Parekh giving presentations on the<br />
XXV) Interactive Meeting on “India entering<br />
enforceability <strong>of</strong> awards - public policy as a ground for<br />
the main stream <strong>of</strong> International<br />
setting aside the award. The third session had<br />
<strong>Arbitration</strong> and problems facing that<br />
Mr. D M Popat as the Chairperson and prominent<br />
entry” - October 20, <strong>2004</strong> - Mumbai.<br />
speakers like Mr.Sumit Kachwaha, Mr. O P Vaish and<br />
Mr. O P Goel who provided insight on Dispute Resolution An interactive meeting on “India entering the main stream<br />
Boards and the ICC Dispute Board Rules. The final <strong>of</strong> International <strong>Arbitration</strong> and problems facing that entry”<br />
session, chaired by Mr. Fali S Nariman, broached the was held on October 20, <strong>2004</strong> at the premises <strong>of</strong> IMC,<br />
subject <strong>of</strong> criminal law and arbitration with presentations Mumbai. The meeting was attended by some select<br />
by reputed advocates such as Mr. Lalit Bhasin and Mr. corporate executives and retired judges and<br />
Sidharth Luthra.<br />
addressed by the Vice President, IMC, Mr. D M Popat,<br />
Vice-President, ICA and Dr. Robert Briner, Chairman, ICC<br />
Hon’ble Justice M Jagannadha Rao (Retd.), Chairman,<br />
International Court <strong>of</strong> <strong>Arbitration</strong>.<br />
Law Commission <strong>of</strong> India, closed the Conference with<br />
his valedictory address which was an informative<br />
XXVI) Conference on “Is this the time to review<br />
summation <strong>of</strong> various schools <strong>of</strong> thought on the topics <strong>of</strong><br />
arbitration law in India” - October 21,<br />
the Conference, which included issue <strong>of</strong> interim measures<br />
<strong>2004</strong> - Mumbai.<br />
and their enforceability, criminal law and arbitration. He<br />
also briefly touched upon the initiatives <strong>of</strong> UNCITRAL on A Conference on “Is this the time to review arbitration<br />
the issue.<br />
law in India” was organized on October 21, <strong>2004</strong><br />
at Mumbai. Hon’ble Mr. Justice D C Bhandari,<br />
The Conference was attended by more than 100<br />
Chief Justice, Bombay High Court inaugurated<br />
delegates.<br />
the Conference. The Conference was addressed by<br />
Hon’ble Mr. Justice B P Saraf, Former Chief Justice,<br />
XXIV) Meeting <strong>of</strong> the ICA Western Regional<br />
Jammu & Kashmir High Court, Dr. Robert Briner,<br />
Executive Committee - October 20, <strong>2004</strong><br />
Chairman, ICC International Court <strong>of</strong> <strong>Arbitration</strong>,<br />
- Mumbai.<br />
Mr. Goolam E. Vahanvati, Solicitor General <strong>of</strong> India,<br />
A meeting <strong>of</strong> the Western Regional Executive Committee Mr. D M Popat, Member, ICC International Court <strong>of</strong><br />
was held on October 20, <strong>2004</strong> at the premises <strong>of</strong> IMC, <strong>Arbitration</strong> and Vice-President, ICA, Mr. Rafiq Dada,<br />
Mumbai. The meeting was presided over by President, Bombay High Court Bar Association.<br />
Dr. B P Saraf, Former Chief Justice, J & K High Court. Mr. Justice Arvind Savant, Former Chief Justice,<br />
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Interactive Meeting on “India entering the main stream <strong>of</strong> International<br />
<strong>Arbitration</strong> and problems facing that entry” – October, <strong>2004</strong> – Mumbai<br />
Dr. Robert Briner, Chairman, ICC International Court <strong>of</strong> <strong>Arbitration</strong>, addressing the Interactive meeting<br />
Is This The Time To Review <strong>Arbitration</strong> Law In India<br />
October, <strong>2004</strong> – Mumbai<br />
1 2<br />
3 4<br />
1 Hon’ble Mr. Justice D C Bhandari, Chief Justice, Bombay High Court, Delivering the inaugural address<br />
2 Mr. T R Andhyarujina, Former Solicitor General <strong>of</strong> India, addressing the Conference<br />
3 Mr. Rafiq Dada, President, Bombay High Court Bar Association, Chairing the Business Session<br />
4 A view <strong>of</strong> the Audience<br />
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Meeting <strong>of</strong> the ICA Western Regional Executive Committee<br />
October, <strong>2004</strong> – Mumbai<br />
A view <strong>of</strong> the meeting <strong>of</strong> the ICA Western Regional Executive Committee<br />
Ist Symposium on "Strengthening Mediation and <strong>Arbitration</strong> Centres",<br />
September 1-3, <strong>2004</strong> at Chamonix, France<br />
Mr. DM Popat,Vice President, ICA<br />
addressing the Symposium<br />
Mr. GK Kwatra, Executive Director, ICA<br />
addressing the symposium<br />
Mr. GK Kwatra, Mr. DM Popat, Mr. Paul Walters (Czech Republic),<br />
Mr. Ben Beaumont (Hong Kong) and Ms. Annette M Van (Netherlands)<br />
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Kerala, High Court, Mr T S Andhyarujina, Former Solicitor<br />
General <strong>of</strong> India, Mr. Justice S M Jhunjhunwala (Retd.)<br />
Judge, Bombay High Court, Mr. S K Dholakia &<br />
Mr. Jagdeep Dhankar, Sr. Advocates. The Conference<br />
was attended by more than 100 delegates.<br />
- “<strong>Arbitration</strong> and Alternative Dispute Resolution -<br />
How to settle International Business Dispute: with<br />
supplement on <strong>Indian</strong> <strong>Arbitration</strong> Law” - A joint<br />
publication with International Trade Centre <strong>of</strong><br />
UNCTAD and WTO”.<br />
XXVII) <strong>Arbitration</strong> Service Agreements<br />
The ICA had entered into agreements <strong>of</strong> cooperation with<br />
more than 40 apex arbitral institutions <strong>of</strong> the world for<br />
cooperation between the organizations for promoting the<br />
use <strong>of</strong> <strong>Arbitration</strong> proceedings by the respective<br />
organizations.<br />
XXVIII) ICA <strong>Arbitration</strong> Quarterly<br />
The <strong>Council</strong> publishes an <strong>of</strong>ficial arbitration journal, the<br />
“ICA <strong>Arbitration</strong> Quarterly” to keep its members informed<br />
about the latest developments <strong>of</strong> law and procedures in<br />
India and abroad. Apart from specialised articles,<br />
important court decisions rendered by the Supreme Court<br />
<strong>of</strong> India and various High Courts are reported in the<br />
Quarterly. Four issues <strong>of</strong> the Quarterly were brought out<br />
during the year which were found useful and appreciated<br />
by the members and other readers.<br />
- “<strong>Arbitration</strong> and Contract Law in SAARC Countries<br />
- with Case Law on UNCITRAL Model Law”<br />
- “<strong>Arbitration</strong> Made Easy” - A Practical Guide in<br />
English, Hindi and Malayalam languages.<br />
- “Case Law on UNCITRAL Model Law on<br />
International Commercial <strong>Arbitration</strong> - With<br />
Reference To The Corresponding Provisions <strong>of</strong><br />
New <strong>Indian</strong> <strong>Arbitration</strong> Law”<br />
- “Case Law on UNCITRAL Convention on Contracts<br />
for the International Sale <strong>of</strong> Goods with Reference<br />
to Corresponding Provisions <strong>of</strong> <strong>Indian</strong> Law”.<br />
- “Construction Industry <strong>Arbitration</strong>”<br />
- “Code <strong>of</strong> Conduct”.<br />
The Editorial Board <strong>of</strong> the ICA <strong>Arbitration</strong><br />
Quarterly constituted during the year included<br />
Mr. Yogendra Kr. Modi, Mr. D M Popat, Mr. O P Goel,<br />
XXX)<strong>Arbitration</strong> Services <strong>of</strong> the <strong>Council</strong> in<br />
Settlement <strong>of</strong> Commercial Disputes -<br />
Domestic and International<br />
Mr. P C Markanda, Mr. Ravinder Singhania and<br />
Mr. G.K.Kwatra as members and Mr. S L Khurana<br />
as Editor.<br />
The <strong>Council</strong> has been providing its arbitration services<br />
for smooth conduct <strong>of</strong> arbitration proceedings in domestic<br />
and international commercial disputes. The institutional<br />
XXIX) Publications <strong>of</strong> the <strong>Council</strong>.<br />
arbitration facilities <strong>of</strong> the <strong>Council</strong> includes administrative<br />
and appointing services, correspondence with the parties<br />
The <strong>Council</strong> has been publishing informative literature/<br />
publications on various aspects <strong>of</strong> commercial arbitration.<br />
ICA publications include:<br />
and the arbitrators, collection <strong>of</strong> documents and pleadings<br />
from the parties, preparation <strong>of</strong> case files for the<br />
arbitrators, fixation <strong>of</strong> hearings in consultation with the<br />
- “<strong>Arbitration</strong> & Conciliation Law <strong>of</strong> India with case<br />
law on UNCITRAL Model Law on <strong>Arbitration</strong> and<br />
Sale <strong>of</strong> Goods”<br />
arbitrators, parties and their lawyers, arrangements <strong>of</strong><br />
hearing rooms for arbitration meetings, secretarial<br />
assistance and general coordination for expeditious and<br />
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economic conduct <strong>of</strong> arbitration proceedings and<br />
publication and compliance with the arbitration awards.<br />
After the enactment <strong>of</strong> the <strong>Arbitration</strong> & Conciliation Act,<br />
1996, the High Courts have referred some cases for<br />
settlement through arbitration under the Rules <strong>of</strong><br />
<strong>Arbitration</strong> <strong>of</strong> the <strong>Council</strong>.<br />
During the year, 84 new arbitration matters were received<br />
by the <strong>Council</strong>, 67 under its commercial Rules <strong>of</strong><br />
<strong>Arbitration</strong> and 17 maritime arbitration matters. Out <strong>of</strong><br />
84 arbitration matters under the Rules <strong>of</strong> <strong>Arbitration</strong> <strong>of</strong><br />
the <strong>Council</strong>, 10 were <strong>of</strong> international character between<br />
<strong>Indian</strong> and foreign parties from UAE, Greece, Moscow,<br />
Hongkong, Switzerland, Malta, Panama & Liberia.<br />
74 Cases were settled during the year by awards,<br />
compromise settlement etc. 66 under ICA rules, and<br />
8 under maritime arbitration rules.<br />
At the beginning <strong>of</strong> the year, 592 arbitration cases were<br />
pending with the <strong>Council</strong> at different stages <strong>of</strong> arbitration<br />
proceedings. At the end <strong>of</strong> the year, 602 arbitration cases<br />
were under process including 20 arbitration matters which<br />
have been pending in courts pursuant to litigation between<br />
the parties.<br />
XXXI) Conciliation in International Trade<br />
Complaints<br />
Apart from arbitration services in the settlement <strong>of</strong><br />
commercial disputes, the <strong>Council</strong> has been providing<br />
conciliation services for settlement <strong>of</strong> trade complaints<br />
to minimise delays and costs in disputes resolution by<br />
ADR techniques like mediation, conciliation, dispute<br />
review procedures etc. Conciliation is generally done<br />
through correspondence with a view to bringing the<br />
parties around to an amicable settlement <strong>of</strong> the dispute.<br />
Sometimes personal meetings with the concerned parties<br />
are also arranged at their request.<br />
XXXII) Advisory Services <strong>of</strong> the <strong>Council</strong><br />
With a view to preventing disputes from arising and<br />
incorporating standard terms <strong>of</strong> contract particularly<br />
arbitration clause, the <strong>Council</strong> has rendered its advisory<br />
services to a large number <strong>of</strong> public undertakings,<br />
government departments, business organisations who<br />
approached the <strong>Council</strong> in regard to the formulation <strong>of</strong><br />
standard contract forms, trade terms, arbitration laws<br />
and procedures in India and abroad. These services are<br />
intended to educate the parties on the contract clauses<br />
entered into by them. The <strong>Council</strong> has provided its<br />
advisory services to public sector undertakings on<br />
complimentary basis to promote the use <strong>of</strong> arbitration<br />
and amicable settlement <strong>of</strong> business disputes.<br />
XXXIII)Regional Offices <strong>of</strong> the <strong>Council</strong><br />
The <strong>Council</strong> has its regional <strong>of</strong>fices at the premises<br />
<strong>of</strong> the <strong>Indian</strong> Chamber <strong>of</strong> Commerce, at Kolkata,<br />
<strong>Indian</strong> Merchants’ Chamber at Mumbai and Southern<br />
India Chamber <strong>of</strong> Commerce & Industry at Chennai<br />
to promote the use <strong>of</strong> arbitration and to provide<br />
effective arbitration services. The addresses <strong>of</strong> regional<br />
<strong>of</strong>fices <strong>of</strong> the <strong>Council</strong> are:-<br />
Western Regional Office<br />
States : Maharashtra, Gujarat, Goa.<br />
Office : The <strong>Indian</strong> <strong>Council</strong> <strong>of</strong> <strong>Arbitration</strong><br />
(Western Region),<br />
c/o, <strong>Indian</strong> Merchants’ Chamber,<br />
<strong>Indian</strong> Merchants Chamber Building,<br />
IMC Marg, 76, Veer Nariman Marg,<br />
Churchgate,<br />
Mumbai - 400 020.<br />
Southern Regional Office<br />
States : Tamil Nadu, Kerala, Union Territory <strong>of</strong><br />
Pondicherry, Andhra Pradesh, Karnataka.<br />
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Office : The <strong>Indian</strong> <strong>Council</strong> <strong>of</strong> <strong>Arbitration</strong><br />
(Southern Region),<br />
c/o, Southern India Chamber <strong>of</strong><br />
Commerce and Industry,<br />
<strong>Indian</strong> Chamber Building,<br />
P B No. 1208, Esplanade,<br />
Chennai - 600 018.<br />
Eastern Regional Office<br />
<strong>Council</strong>, by several business executives, legal and<br />
arbitration consultants, arbitrators and research students.<br />
XXXV) Provident Fund <strong>of</strong> the <strong>Council</strong><br />
Dr.Amit Mitra and Mr. G K Kwatra were appointed as<br />
trustees <strong>of</strong> the <strong>Indian</strong> <strong>Council</strong> <strong>of</strong> <strong>Arbitration</strong> Employees’<br />
Provident Fund for the year <strong>2003</strong>-<strong>2004</strong> by the Governing<br />
Body <strong>of</strong> the <strong>Council</strong>, during the year.<br />
States : West Bengal, Tripura, Assam, Meghalaya,<br />
Nagaland, Sikkim, Orissa, Bihar, Arunachal<br />
Pradesh, Manipur.<br />
Office : The <strong>Indian</strong> <strong>Council</strong> <strong>of</strong> <strong>Arbitration</strong><br />
(Eastern Region),<br />
c/o, <strong>Indian</strong> Chamber <strong>of</strong> Commerce,<br />
India Exchange,<br />
4, India Exchange Place,<br />
Kolkata - 700 001.<br />
The regional <strong>of</strong>fices extended their cooperation in the<br />
successful organisation <strong>of</strong> conferences, interactive<br />
meeting etc. organised by the <strong>Council</strong> during the year.<br />
The <strong>Council</strong> also have its state level <strong>of</strong>fices at Pune,<br />
Hyderabad, Bangalore, Bhubaneshwar, Jaipur,<br />
Ahmedabad, Cochin and Guwahati which are functioning<br />
from the apex Chambers <strong>of</strong> Commerce.<br />
XXXIV) Library<br />
The <strong>Council</strong> maintains a comprehensive library on<br />
arbitration and allied subjects, for use by members <strong>of</strong><br />
the <strong>Council</strong> and other interested persons. The library is<br />
equipped with latest publications and literature from India<br />
and abroad. Important journals and periodicals published<br />
from important foreign arbitral institutions are also being<br />
collected and added in the library for use <strong>of</strong> members,<br />
arbitration practitioners and legal and business<br />
community in India. As usual, the library <strong>of</strong> the <strong>Council</strong><br />
has been extensively used apart from members <strong>of</strong> the<br />
XXXVI) Membership <strong>of</strong> the <strong>Council</strong><br />
The <strong>Council</strong> has addressed several communications to<br />
various important business organisations, chambers <strong>of</strong><br />
commerce and distinguished businessmen, legal<br />
community, pr<strong>of</strong>essionals, Chartered Accountants and<br />
Individuals interested in the field <strong>of</strong> arbitration urging them<br />
to join in the membership <strong>of</strong> the <strong>Council</strong>. Pursuant<br />
thereto a number <strong>of</strong> important firms, Chartered<br />
Accountants and Individuals have shown their keen<br />
interest in the arbitration services <strong>of</strong> the <strong>Council</strong> and joined<br />
as members.<br />
The total membership <strong>of</strong> the <strong>Council</strong> stood at 4286 during<br />
the year, which includes 18 Foundation Members,<br />
48 Ordinary Members, 387 Associate Members and<br />
3814 Individual Members. 254 Members have joined<br />
Life/Permanent Membership by paying lumpsum<br />
subscription during the year. A complete list <strong>of</strong> Members<br />
<strong>of</strong> the <strong>Council</strong> for the year <strong>2003</strong>-3004 is available at ICA<br />
website: ica@nda.vsnl.net.in.<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
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INDIAN COUNCIL OF<br />
ARBITRATION (ICA)<br />
STATEMENT OF ACCOUNTS<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
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REPORT OF AUDITORS TO THE MEMBERS<br />
We have audited the attached balance sheet <strong>of</strong> the <strong>Indian</strong> <strong>Council</strong> <strong>of</strong> <strong>Arbitration</strong> as at 31st March, <strong>2004</strong> and the<br />
annexed Income and Expenditure Account and Receipts and Payments Account <strong>of</strong> the council for the year ended<br />
on that date annexed thereto. These financial statements are the responsibility <strong>of</strong> the <strong>Council</strong>’s management. Our<br />
responsibility is to express an opinion on these financial statements based on our audit.<br />
We conducted our audit in accordance with auditing standards generally accepted in India. Those Standards require<br />
that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free<br />
<strong>of</strong> material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and<br />
disclosures in the financial statements. An audit also includes assessing the accounting principles used and<br />
significant estimates made by management, as well as evaluating the overall financial statement presentation. We<br />
believe that our audit provides a reasonable basis for our opinion<br />
Further to our comment above we report that :<br />
1. We have obtained all the information and explanations which to the best <strong>of</strong> our knowledge and belief were<br />
necessary for the purpose <strong>of</strong> our audit;<br />
2. Proper books <strong>of</strong> account have been kept by the <strong>Council</strong> so far as appears from our examination <strong>of</strong> books;<br />
3. The Balance Sheet and Income & Expenditure and Receipt & Payments Account are in agreement with the<br />
books <strong>of</strong> accounts;<br />
4. In our opinion and to the best <strong>of</strong> our information and according to the explanations given to us the said accounts,<br />
subject to:<br />
(i)<br />
regarding provision having not been made for income tax damend <strong>of</strong> Rs.532679/- (being disputed and under<br />
appeal; note no. 4)<br />
(ii) accounting for Leave encashment payment on cash basis as against accrual basis which is not in<br />
accordance with accounting standards (AS15) “Accounting for retirement benefits” (Accounting Policies<br />
no. 6(b)) and read with the other attached thereto and appearing thereon give a true and fair view in<br />
conformity with the accounting principles generally accepted in India:-<br />
(i) In the case <strong>of</strong> Balance Sheet <strong>of</strong> the state <strong>of</strong> affairs <strong>of</strong> the <strong>Council</strong> as at 31st March, <strong>2004</strong>;<br />
(ii) In the case <strong>of</strong> Income & Expenditure Account <strong>of</strong> the surplus for the year ended on the date; and<br />
(iii) In the case <strong>of</strong> Receipts and Payments Account <strong>of</strong> the receipts and payments for the year ended on<br />
that date.<br />
For KHANNA & ANNANDHANAM<br />
Chartered Acountants<br />
(Sd/-)<br />
Place : New Delhi.<br />
Date : 9th August, <strong>2004</strong><br />
K. A. BALASUBRAMANIAN<br />
Partner<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
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THE INDIAN COUNCIL OF<br />
BALANCE SHEET AS AT<br />
As At<br />
As At<br />
31.3.<strong>2003</strong> LIABILITIES 31.3.<strong>2004</strong><br />
(Rs.)<br />
(Rs.)<br />
CAPITAL FUND<br />
PERMANENT/LIFE MEMBERSHIP FUND<br />
As per last Balance Sheet 1,12,56,700<br />
1,12,56,700 Add: Received during the year 9,11,600 1,21,68,300<br />
RESERVES & SURPLUS<br />
As per last Balance Sheet 1,00,16,420<br />
Add: Excess Provision written <strong>of</strong>f<br />
from Gratuity Fund 1,14,151<br />
Add: Excess <strong>of</strong> Income over<br />
Expenditure as per Income<br />
1,00,16,420 & Expenditure A/c 5,88,844 1,07,19,415<br />
PROVISION FOR RETIREMENT GRATUITIES<br />
As per last Balance Sheet 14,73,515<br />
Less: Excess Provision Written Off 1,14,151<br />
13,59,364<br />
Add: Interest received/<br />
14,73,515 accrued on Investments 1,61,809 15,21,173<br />
CURRENT LIABILITIES & PROVISIONS<br />
7,00,859 Sundry Creditors 2,99,283<br />
Advance Subscriptions<br />
— From Existing/<br />
81,900 Proposed Members 67,300<br />
— From Proposed Members for<br />
— Permanent/Life Membership 2,400<br />
300 — For Journal —- 69,700 3,68,983<br />
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ARBITRATION — NEW DELHI<br />
31ST MARCH <strong>2004</strong><br />
As At<br />
As at<br />
31.3.<strong>2003</strong> ASSETS 31.3.<strong>2004</strong><br />
(Rs.)<br />
(Rs.)<br />
2,70,229 FIXED ASSETS 3,75,345<br />
(As per Schedule ‘A’ Attached)<br />
3,57,28,320 INVESTMENTS 4,80,86,170<br />
(As per Schedule ‘B’ Attached)<br />
A) CURRENT ASSETS<br />
22,32,242 — Interest Accrued on Investments 14,73,124<br />
17,000 — Sundry Debtors (Considered Good) 1,39,180<br />
— Cash & Bank Balance<br />
28,063 Cash & Stamps in Hand 22,390<br />
— Balance with Scheduled Banks<br />
7,206 In Current A/c. 2,926<br />
1,45,207 In Savings A/c 4,14,681<br />
4,00,000 In Fixed Deposits 1,00,000<br />
7,116 Accrued Interest on FDR 130 5,17,737<br />
— For <strong>Arbitration</strong> Cases<br />
20,601 In Savings A/c 21,364<br />
29,11,344 In Fixed Deposits 22,00,000<br />
43,079 Accrued Interest on FDR 21,004 22,42,368<br />
— For Gratuity Fund<br />
3,360 In Savings A/c —-<br />
15,20,677 In Fixed Deposits 15,20,677<br />
3,17,433 Accrued Interest on FDR 4,70,535 19,91,212<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
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As At<br />
As At<br />
31.3.<strong>2003</strong> LIABILITIES 31.3.<strong>2004</strong><br />
(Rs.)<br />
(Rs.)<br />
Advance from Parties to <strong>Arbitration</strong><br />
Balance as per last Balance Sheet 2,22,88,823<br />
Add: Received during the year<br />
(Gross) (Taxes Deducted at Source<br />
Rs.57,785/-)(Previous Year Rs.47,781/-) 2,11,03,325<br />
4,33,92,148<br />
Less:(i) Expenditure during the year 92,07,647<br />
(ii) Income on completion <strong>of</strong><br />
cases transferred to Income<br />
2,22,88,823 & Expenditure A/c. 25,72,282 1,17,79,929 3,16,12,219<br />
31,329 Other Liabilities 1,16,365<br />
4,07,424 Unclaimed Deposit from Parties 4,07,424<br />
4,62,57,270 TOTAL 5,69,13,879<br />
As per our <strong>Report</strong> to the Members attached separately<br />
For KHANNA & ANNANDHANAM<br />
Chartered Accountants<br />
(Sd/-)<br />
NEW DELHI K. A. BALASUBRAMANIAN<br />
DATE : 9th August, <strong>2004</strong><br />
Partner<br />
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As At<br />
As at<br />
31.3.<strong>2003</strong> ASSETS 31.3.<strong>2004</strong><br />
(Rs.)<br />
(Rs.)<br />
— For Permanent/Life<br />
Membership Subscription Fund<br />
5,569 In Savings A/c 1,802<br />
16,40,000 In Fixed Deposits 4,00,000<br />
6,034 Accrued Interest on FDR 521 4,02,323 53,15,210<br />
B) LOANS & ADVANCES<br />
(Considered Good)<br />
73,968 — Conveyance Loan to Staff 51,612<br />
3,40,505 — House Building Advances to Staff 4,60,847<br />
18,620 — Prepaid Expenses 18,496<br />
5,20,697 — Income Tax Deducted at Source 10,18,421<br />
— — Interest Recoverable on Income Tax Refund 22,138<br />
— — Advance for Travelling 92,516 16,64,030<br />
4,62,57,270 TOTAL 5,69,13,879<br />
(Sd/-) (Sd/-) (Sd/-) (Sd/)<br />
Yogendra Kr. Modi Onkar S. Kanwar Amit Mitra G K Kwatra<br />
President Sr. Vice-President Member, Governing Body Executive Director<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
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THE INDIAN COUNCIL OF ARBITRATION TION - NEW DELHI<br />
SCHEDULE OF FIXED ASSETS AS AT 31ST MARCH <strong>2004</strong><br />
Schedule ‘ ‘A’<br />
NAME COST DEPRECIATION<br />
WRITTEN DOWN<br />
OF VALUE<br />
(Rs.) (Rs.)<br />
(Rs.) (Rs.)<br />
ASSETS As on Additions Sale/Adj-<br />
1.4.03 -ustments<br />
Sale/Adj- As on<br />
-ustments 31.3.04<br />
(Rs.) (Rs.)<br />
As on Upto<br />
31.3.04 31.3.03<br />
(Rs.) (Rs.)<br />
Upto For the<br />
31.3.03 year<br />
(Rs.) (Rs.)<br />
For the On Sale/<br />
On Sale/ Upto<br />
year Adjustments<br />
(Rs.) (Rs.)<br />
Adjustments 31.3.04<br />
(Rs.) (Rs.)<br />
Upto On<br />
31.3.04 31.3.04<br />
(Rs.) (Rs.)<br />
On On<br />
On<br />
31.3.04 31.3.03<br />
(Rs.) (Rs.)<br />
Office Equipment 1,36,859 21,600 - 1,58,459 94,890 7,431 - 1,02,321 56,138 41,969<br />
Furniture & 3,05,669 - - 3,05,669 1,72,379 13,329 - 1,85,708 1,19,961 1,33,290<br />
Fixtures<br />
Cycle 1,265 - - 1,265 1,236 6 - 1,242 23 29<br />
Air-Conditioner 1,04,055 48,400 - 1,52,455 96,994 15,657 - 1,12,651 39,804 7,061<br />
Computer 5,14,211 1,51,400 60,000 6,05,611 4,26,331 73,363 53,502 4,46,192 1,59,419 87,880<br />
Total 10,62,059 2,21,400 60,000 12,23,459 7,91,830 1,09,786 53,502 8,48,114 3,75,345 2,70,229<br />
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Schedule-B<br />
THE INDIAN COUNCIL OF ARBITRATION — NEW DELHI<br />
SCHEDULE OF INVESTMENTS AT COST AS AT 31ST MARCH <strong>2004</strong><br />
PARTICULARS As at As at<br />
31.3.<strong>2003</strong> 31.3.<strong>2004</strong><br />
(Rs.)<br />
(Rs.)<br />
1. In 16.1/2% Unsecured Bonds <strong>of</strong> Rs.1,000/- each with Public Sector Undertakings<br />
<strong>Indian</strong> Railway Finance Corpn. Ltd. 7,10,000 ——<br />
2. In 16% Unsecured Bonds <strong>of</strong> Rs.5,000/- each with Public Sector Undertakings<br />
Industrial Finance Corporation <strong>of</strong> India Ltd. 10,00,000 ——<br />
3. In Fixed Deposits with Public Sector Undertakings.<br />
a) Steel Authority <strong>of</strong> India Ltd. (f.v. Rs.35,50,000/-) 34,98,525 34,98,525<br />
b) Bharat Petroleum Corpn. Ltd. (f.v. Rs.3,00,000/-) 2,97,450 ——<br />
c) HUDCO (f.v. Rs.50,00,000/-) 37,71,500 49,52,500<br />
d) I.F.C.I. Ltd. (f.v. Rs.5,00,000/-) 4,96,250 4,96,250<br />
e) ICICI Home Finance Ltd. (f.v. Rs.8,00,000/-) 7,92,800 7,92,800<br />
f) IDBI Suvidha Bond (f.v. 35,00,000/-) —— 34,66,750<br />
g) FACT (f.v. Rs. 15,00,000/-) —— 14,82,000<br />
4. In Units Trust <strong>of</strong> India<br />
a) Under CRTS - 1981 8,780 units (Previous 8,780 units)<br />
<strong>of</strong> face value <strong>of</strong> Rs.100/- per unit. 10,10,125 10,10,125<br />
b) Under M.I.P. 98 (ii) 19,60,000 ——<br />
c) Under M.I.P. 98 (iii) 2,00,000 ——<br />
5. In 14% Regular Income Bond with Public Sector Undertakings<br />
a) Industrial Credit & Investment Corpn. <strong>of</strong> India Ltd. 40,50,000 16,50,000<br />
b) Industrial Development Bank <strong>of</strong> India 20,00,000 20,00,000<br />
6. In 13.75% Regular Income Bond with Public Sector Undertakings<br />
Industrial Credit & Investment Corpn. <strong>of</strong> India Ltd. 10,15,000 ——<br />
7. In 13.50% Regular Income Bond with Public Sector Undertakings<br />
Industrial Credit & Investment Corpn. <strong>of</strong> India Ltd. 3,50,000 ——<br />
8. In 12.50% Regular Income Bond with Public Sector Undertakings<br />
Industrial Development Bank <strong>of</strong> India (f.v. Rs.16,10,000/-) 16,03,560 16,03,560<br />
9. In 11% Regular Income Bond with Public Sector Undertakings<br />
a) Industrial Development Bank <strong>of</strong> India (f.v. Rs.5,00,000/-) 4,99,500 4,99,500<br />
b) ICICI (f.v. Rs.15,00,000/-) 14,89,500 14,89,500<br />
10. In 11.50% Regular Income Bond with Public Sector Undertakings<br />
IDBI (f.v. Rs.19,60,000/-) 19,57,060 19,57,060<br />
11. In 10.6% Regular Income Bond with Public Sector Undertakings<br />
ICICI (f.v. Rs.46,00,000/-) 45,67,800 ——<br />
12. In 9.5% Money Multiplier Bond with Public Sector Undertakings<br />
- ICICI Ltd. (f.v. Rs.10,00,000/-) 9,92,500 9,92,500<br />
13. In 8% RBI Bonds —— 2,21,95,100<br />
TOTAL 3,57,28,320 4,80,86,170*<br />
(*includes Rs.73,01,370/- and Rs.3,40,12,650/- for Earmarked funds and <strong>Arbitration</strong> Cases Deposits respectively)<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
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The <strong>Indian</strong> <strong>Council</strong> <strong>of</strong><br />
Income & Expenditure Account for<br />
As At<br />
As At<br />
31.3.03 EXPENDITURE 31.3.04<br />
(Rs.)<br />
(Rs.)<br />
19,40,099 Establishment 20,74,504<br />
90,435 Medical Reimbursement 89,052<br />
—— Contribution to Staff Gratuity Fund ——<br />
1,34,802 Leave Travel Concession 16,864<br />
2,72,985 Encashment <strong>of</strong> Earned Leave 61,497<br />
Income-Tax Consultancy Fee &<br />
38,346 Legal Expenses 38,450<br />
5,200 Hindi Translation Charges 7,000<br />
1,10,889 Contribution to Staff Provident Fund 1,10,361<br />
44,250 Conveyance 88,056<br />
1,61,486 Travelling 1,13,366<br />
4,29,086 Postage, Courier and Fax 5,58,033<br />
81,376 Telephone 1,66,898<br />
Charges for Maintenance <strong>of</strong> Office Space to Federation<br />
Office Space to Federation <strong>of</strong> <strong>Indian</strong> Chambers <strong>of</strong><br />
6,25,408 Commerce & Industry 8,89,906<br />
(including electricity expenses relating to earlier years Rs.1,29,191)<br />
14,937 Staff Welfare 29,947<br />
6,18,637 Printing & Stationery 7,38,379<br />
1,29,143 Miscellaneous 1,68,445<br />
16,200 Honorarium to Auditors 21,600<br />
2,975 Membership & Subscription to Journals 24,027<br />
8,123 Hospitality 10,942<br />
13,968 <strong>Annual</strong> General Meeting 15,365<br />
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<strong>Arbitration</strong> — New Delhi<br />
the Year ended on 31 st March <strong>2004</strong><br />
As At<br />
As At<br />
31.3.03 INCOME 31.3.04<br />
(Rs.)<br />
(Rs.)<br />
4,41,400 Subscription 3,41,600<br />
Interest Earned<br />
a) On Permanent/Life Membership<br />
Subscription<br />
(Gross) (Taxes Deducted at Source<br />
Rs.1,16,891/-) (Previous year Rs. 34,564/-)<br />
67 — On Savings A/c 61<br />
1,56,800 — On Fixed Deposits 1,51,287<br />
9,59,582 — On Investments 8,36,248<br />
b) On <strong>Arbitration</strong> Cases Deposits<br />
(Gross) (Taxes Deducted at Source<br />
Rs.2,67,838/-) Previous year Rs. 1,10,992/-)<br />
800 — On Savings A/c 763<br />
3,09,131 — On Fixed Deposits 2,24,233<br />
21,98,801 — On Investments 26,74,929<br />
c) On Surplus Amount<br />
(Gross) (Taxes Deducted at Source<br />
Rs.43,174/-) (Previous year Rs. 25,966/-)<br />
21,811 — On Savings A/c 31,404<br />
39,500 — On Fixed Deposits 32,514<br />
6,44,284 — On Investments 6,20,257<br />
6,776 d) On conveyance loan to staff 5,745<br />
4,477 e) On house building advances to staff 8,574 45,86,015<br />
20,89,331 Income from <strong>Arbitration</strong> Cases 25,72,282<br />
2,36,000 Registration Fee for <strong>Arbitration</strong> Cases 2,09,500<br />
57,599 Sale <strong>of</strong> Publications 1,61,955<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
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As At<br />
As At<br />
31.3.03 EXPENDITURE 31.3.04<br />
(Rs.)<br />
(Rs.)<br />
21,615 Books & Periodicals 1,474<br />
50,000 Expenses on Branch Offices 50,000<br />
7,61,891 Journals, Pamphlets & Publications 10,73,928<br />
2,64,470 Repair & Maintenance 2,03,855<br />
3,88,889 General Publicity & Advertisement 5,36,835<br />
Expenses on Conferences, Regional Meetings,<br />
2,54,312 Technical Meetings 6,45,669<br />
3,500 Debt not Realised 5,000<br />
50,717 Depreciation 1,09,786<br />
12,61,832 Excess <strong>of</strong> Income over Expenditure carried to Balance Sheet 5,88,844<br />
77,95,571 TOTAL<br />
84,38,083<br />
As per our <strong>Report</strong> to the Members attached separately<br />
For KHANNA & ANNANDHANAM<br />
Chartered Accountants<br />
(Sd/-)<br />
NEW DELHI K. A. BALASUBRAMANIAN<br />
DATE : 9th August, <strong>2004</strong><br />
Partner<br />
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As At<br />
As At<br />
31.3.03 INCOME 31.3.04<br />
(Rs.)<br />
(Rs.)<br />
4,91,300 Fee Received from Conferences 3,77,200<br />
1,12,779 Miscellaneous Income 5,000<br />
—— Pr<strong>of</strong>it on Sale <strong>of</strong> Fixed Assets 3,502<br />
300 Subscription for Journal 400<br />
—— Creditors no longer payable now written back 1,58,491<br />
—— Interest Income on Income Tax Refund 22,138<br />
77,95,571 TOTAL<br />
84,38,083<br />
(Sd/-) (Sd/-) (Sd/-) (Sd/)<br />
Yogendra Kr. Modi Onkar S. Kanwar Amit Mitra G K Kwatra<br />
President Sr. Vice-President Member, Governing Body Executive Director<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
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ACCOUNTING POLICIES & NOTES TO THE<br />
ACCOUNTING<br />
A. ACCOUNTING POLICIES<br />
1. Financial Statement<br />
The Financial Statement have been prepared on accrual basis, excepting to the extent stated elsewhere,<br />
and based on applicable accounting standards.<br />
2. Fixed Assets<br />
Fixed Assets are stated at cost less accumulated depreciation.<br />
3. Depreciation<br />
Depreciation on fixed assets is provided on written down value method on prorata basis at the<br />
following rates:<br />
Furniture & Fixture 10%<br />
Office Equipment 15%<br />
Vehicle 20%<br />
Air-conditioner 33.33%<br />
Computer 40%<br />
4. Subscription<br />
a. Membership Subscription is accounted for on cash basis. However subscription received in<br />
advance is carried over and recognized as income in the year to which it pertains.<br />
b. Life Membership subscription is credited to life membership Fund Account.<br />
5. Fees from arbitration cases<br />
a. Income from arbitration services is recognize when the arbitration cases are concluded and<br />
closed.<br />
b. Registration fees for arbitration cases is accounted for at the time <strong>of</strong> registration/receipt.<br />
6. Employee Benefits<br />
a. Provision for retiring Gratuity to eligible employee is made based on the policy <strong>of</strong> the <strong>Council</strong>.<br />
b. Leave Encashment payment is accounted for on cash basis and no accrual there<strong>of</strong> is created.<br />
c. Provident Fund contributions are accounted for on accrual basis and the amount collected is<br />
deposited with provident fund trust account.<br />
7. Publication<br />
Stock <strong>of</strong> publication in hand at close <strong>of</strong> the year are not valued and brought into the books.<br />
28<br />
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B. NOTES TO THE ACCOUNTS<br />
1. Following past practice expenditure incurred on publication/books are charged <strong>of</strong>f in the year in which<br />
they incurred and no value is assigned to unsold publication in hand at the close at the year.<br />
2. During the year under consideration the <strong>Council</strong> had printed publications costing Rs.222088/- (delivery<br />
<strong>of</strong> publications effected prior to 31st March, <strong>2004</strong> but invoiced partly prior to 31.3.<strong>2004</strong> and partly<br />
thereafter) for which accounting entry has been recorded creating a liability for a like amount to the<br />
publications having been distributed substantially prior to 31st March <strong>2004</strong>.<br />
3. For want <strong>of</strong> particulars & clarification, subscription received in the earlier years amount to Rs.28365/-<br />
continues to be treated as advance subscription and carried forward as liabilities.<br />
4. (a) Provision for demands raised by the income tax department for the assessment year 84-85, 85-86<br />
and 89-90 aggregating to Rs.532679/- has not been created as appeals have been preferred against the<br />
orders and the management is hopeful <strong>of</strong> succeeding in the appeals.<br />
(b) Income Tax assessment up to assessment year <strong>2003</strong>-04 have been completed on nil income basis<br />
and refunds received.<br />
5. Previous year figures have been rearranged/regrouped wherever found necessary.<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
29<br />
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The <strong>Indian</strong> <strong>Council</strong> <strong>of</strong><br />
Receipts & Payments Account For<br />
As at<br />
Receipts<br />
As at<br />
31.3.03 31.3.04<br />
(Rs.)<br />
(Rs.)<br />
BALANCE AS ON 1.4.<strong>2003</strong><br />
59 Cash in Hand 5,575<br />
15,235 Postage Stamps in Hand 22,488<br />
Bank Balances<br />
7,206 - In Current Accounts 7,206<br />
1,16,799 - In Savings Accounts 1,74,737<br />
64,72,021 - In Fixed Deposits 64,72,021<br />
3,33,78,095 Investments 3,57,28,320<br />
Subscription<br />
3,45,400 For 2002-<strong>2003</strong> 6,400<br />
80,300 For <strong>2003</strong>-<strong>2004</strong> 3,35,200<br />
—- For <strong>2004</strong>-2005 67,300<br />
Permanent/Life Membership Subscription<br />
9,18,800 For 2002-<strong>2003</strong> —-<br />
—- For <strong>2003</strong>-<strong>2004</strong> 9,11,600<br />
For <strong>2004</strong>-2005 2,400<br />
63,299 Sale <strong>of</strong> Publications 31,275<br />
96,55,333 Receipts for <strong>Arbitration</strong> Cases 2,10,45,540<br />
2,39,500 Registration Fee for <strong>Arbitration</strong> Cases 2,17,000<br />
35,253 Advances Recovered from Staff 52,014<br />
—- Other Advances Received —-<br />
40,88,459 Interest Received from Banks/Fixed Deposits/Investments 49,41,992<br />
30<br />
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<strong>Arbitration</strong> — New Delhi<br />
the Year ended on 31 st March <strong>2004</strong><br />
As at<br />
PAYMENTS<br />
As at<br />
31.3.03 31.3.04<br />
(Rs.)<br />
(Rs.)<br />
15,750 Audit Fee for 2002-<strong>2003</strong> 16,200<br />
22,15,490 Establishment 20,74,504<br />
90,435 Medical Reimbursement 89,052<br />
1,34,802 Leave Travel Concession 16,864<br />
2,72,985 Encashment <strong>of</strong> Earned Leave 61,497<br />
1,07,925 Contribution to Provident Fund 1,10,361<br />
1,57,926 Travelling 1,16,926<br />
44,250 Local Conveyance 84,042<br />
15,500 Staff Welfare 30,052<br />
4,14,460 Postage, Telegram and Fax 6,26,566<br />
90,033 Telephone Expenses 1,59,673<br />
5,77,908 Payment to FICCI 9,15,398<br />
4,87,963 Printing & Stationery 9,10,518<br />
1,31,545 Miscellaneous 1,68,445<br />
800 Membership & Subscription to Journals 23,798<br />
21,615 Books & Periodicals 1,474<br />
8,123 Hospitality 10,942<br />
7,61,891 Expenses on Journals, Pamphlets & Publications 10,73,928<br />
38,346 Income-Tax Consultancy Fee & Legal Expenses 38,450<br />
5,200 Hindi Translation Charges 7,000<br />
2,64,470 Repair & Maintenance 2,03,855<br />
65,10,933 Expenses on <strong>Arbitration</strong> Cases 92,07,647<br />
3,88,889 General Publicity & Advertisement 5,36,835<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
31<br />
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As at<br />
RECEIPTS<br />
As at<br />
31.3.03 31.3.04<br />
(Rs.)<br />
(Rs.)<br />
1,12,779 Miscellaneous Receipts 5,000<br />
5,22,300 Fee Received for Regional Conferences, Technical Meetings, etc. 3,78,200<br />
—- Subscription Received for Journal 400<br />
6,776 Interest on Conveyance Loan to Staff 5,745<br />
4,477 Interest on House Building Advance to Staff 8,574<br />
6,81,311 Refund <strong>of</strong> TDS (Net <strong>of</strong> TDS) —-<br />
5,67,68,235 TOTAL<br />
7,04,18,987<br />
As per our <strong>Report</strong> to the Members attached separately<br />
For KHANNA & ANNANDHANAM<br />
Chartered Accountants<br />
(Sd/-)<br />
NEW DELHI K. A. BALASUBRAMANIAN<br />
DATE : 9th August, <strong>2004</strong><br />
Partner<br />
32<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
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As at<br />
PAYMENTS<br />
As at<br />
31.3.03 31.3.04<br />
(Rs.)<br />
(Rs.)<br />
1,89,000 Advances Given to Staff 1,50,000<br />
35,000 Branch Office Expenses 40,000<br />
2,54,312 Expenses on Regional Conferences, Technical Meetings, etc. 6,45,669<br />
13,968 <strong>Annual</strong> General Meeting 15,365<br />
67,000 Computer 1,51,400<br />
3,920 Furniture and Fixtures —-<br />
—- Air Conditioners 48,400<br />
1,250 Office Equipment 21,600<br />
—- Advance for Travelling 92,516<br />
6,36,859 Expenses on ICCA Conference —-<br />
3,99,340 Payment <strong>of</strong> Gratuity (net <strong>of</strong> Receipts on account <strong>of</strong> interest) —-<br />
BALANCE AS ON 31-3-<strong>2004</strong><br />
5,575 Cash in Hand 6,543<br />
22,488 Postage Stamps in Hand 15,847<br />
Bank Balance<br />
7,206 - In Current Accounts 2,926<br />
1,74,737 - In Savings Accounts 4,37,847<br />
64,72,021 - In Fixed Deposits 42,20,677<br />
3,57,28,320 Investments 4,80,86,170<br />
5,67,68,235 TOTAL<br />
7,04,18,987<br />
(Sd/-) (Sd/-) (Sd/-) (Sd/)<br />
Yogendra Kr. Modi Onkar S. Kanwar Amit Mitra G K Kwatra<br />
President Sr. Vice-President Member, Governing Body Executive Director<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
33<br />
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The <strong>Indian</strong> <strong>Council</strong> <strong>of</strong> <strong>Arbitration</strong><br />
Balance Sheet as at<br />
LIABILITIES<br />
Amount (Rs.)<br />
CAPITAL AL FUND<br />
Employees’<br />
Employers’<br />
CONTRIBUTION ACCOUNT<br />
Contribution<br />
Contribution<br />
Balance as at 1.4.<strong>2003</strong> 13,09,378 9,21,943 22,31,321<br />
Add: Contribution during the year 1,71,255 1,10,361 2,81,616<br />
Interest Credited 69,344 47,449 1,16,793<br />
15,49,977 10,79,753 26,29,730<br />
LAPSES & FORFEITURES<br />
ACCOUNT (ALLOCATED<br />
TO MEMBERS ACCOUNT)<br />
Balance as at 1.4.<strong>2003</strong> 11,605<br />
Add: Interest Credited 581 12,186<br />
SURPLUS INTEREST (ALLOCATED<br />
TO MEMBERS ACCOUNT)<br />
Balance as at 1.4.<strong>2003</strong> 12,74,847<br />
Add: Transfer from Unallocated<br />
Interest during the year. 2,16,814 14,91,661<br />
SUSPENSE ACCOUNT<br />
(UNALLOCATED INTEREST)<br />
Balance as at 1.4.<strong>2003</strong> 2,59,572<br />
Add : Transfer from Interest<br />
Account during the year 1,69,506<br />
4,29,078<br />
Less:Interest Allocated to<br />
Members during the year 2,16,814 2,12,264<br />
34<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
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Employees’ Provident Fund - New Delhi<br />
31st March <strong>2004</strong><br />
ASSETS<br />
Amount (Rs.)<br />
INVESTMENTS (AT COST)<br />
9.50% Central Govt. Loan-<strong>2004</strong> 35,800<br />
(f.v. Rs.35,800/-)<br />
7% Central Govt. Loan-2009 8,694<br />
(f.v. Rs.9,000/-)<br />
Special Deposit with Bank <strong>of</strong> Baroda, New Delhi 30,97,143<br />
31,41,637<br />
INTEREST ACCRUED ON INVESTMENTS 73,072<br />
Due from ICICI Bank 3,60,000<br />
RECOVERABLE LOANS TO STAFF<br />
Balance as at 1.4.<strong>2003</strong> 1,04,509<br />
Add : Loans given during the year 1,50,000<br />
2,54,509<br />
Less : Repayments during the year 1,13,669 1,40,840<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
35<br />
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LIABILITIES<br />
Amount (Rs.)<br />
INTEREST ACCOUNT<br />
Interest from Bank & Investments including on loans to staff 2,73,903<br />
Add: Interest on Loans to Staff 17,977<br />
2,91,880<br />
Less: Expenses 5,000<br />
2,86,880<br />
Less:Credited to Contribution Account as above 1,16,793<br />
1,70,087<br />
Less: Credited to Lapses & Forfeitures Account as above 581<br />
1,69,506<br />
Less: Balance transferred to Suspense Account 1,69,506 —<br />
TOTAL<br />
43,45,841<br />
Notes: 1. Members Contribution is inclusive <strong>of</strong><br />
Voluntary Contribution from Members<br />
Examined and Found Correct<br />
For KHANNA & ANNANDHANAM<br />
Chartered Accountants<br />
(Sd/-)<br />
NEW DELHI K.A. BALASUBRAMANIAN<br />
DATE : 9th August, <strong>2004</strong><br />
Partner<br />
36<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
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ASSETS<br />
Amount (Rs.)<br />
BALANCE WITH BANK OF BARODA, NEW DELHI<br />
— In Savings Account 6,30,292<br />
TOTAL<br />
43,45,841<br />
We hereby certify that the above Balance Sheet<br />
is true and correct to the best <strong>of</strong> our information.<br />
(Sd/-)<br />
AMIT MITRA<br />
Trustee<br />
(Sd/-)<br />
G. K. KWATRA<br />
Trustee<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
37<br />
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38<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
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PRESIDENTS – PAST AND PRESENT<br />
* Mr. S L Kirloskar 1965-66<br />
* Mr. Ramanbhai B Amin, Baroda 1966-67<br />
* Mr. L N Birla, Calcutta 1967-68<br />
* Rai Bahadur G M Modi, Modinagar 1968-69<br />
* Dr Ramnath A Podar, Mumbai 1969-70<br />
* Mr. D C Kothari, Chennai 1970-71<br />
Mr. S S Kanoria, Calcutta 1971-72<br />
Mr. Madan Mohan Mangaldas, Ahmedabad 1972-73<br />
Dr Charat Ram, New Delhi 1973-74<br />
Mr. K K Birla, Calcutta 1974-75<br />
Mr. Harish Mahindra, Mumbai 1975-76<br />
* Mr. M V Arunachalam, Chennai 1976-77<br />
* Mr. B P Podar, Calcutta 1977-78<br />
Mr. Pravinchandra V Gandhi, Mumbai 1978-79<br />
Mr. H S Singhania, New Delhi 1979-80<br />
Mr. K N Modi, Modinagar 1980-81<br />
Mr. Arvind N Lalbhai, Ahmedabad 1981-82<br />
* Cav G K Devarajulu, Coimbatore 1982-83<br />
* Mr. A K Jain, Calcutta April-Sept. 1983<br />
Dr Bharat Ram, New Delhi 1983-84<br />
* Mr. A K Jain, Calcutta 1984-85<br />
Mr. D N Patodia, New Delhi 1985-86<br />
* Mr. K S G Haja Shareeff, Chennai 1986-87<br />
Mr. Rohit C Mehta, Ahmedabad 1987-88<br />
* Mr. Raunaq Singh, New Delhi 1988-89<br />
Mr. S K Birla, Calcutta 1989-90<br />
Mr. V L Dutt, Chennai 1990-91<br />
Mr. Kantikumar R Podar, Mumbai 1991-92<br />
*Dr Bansi Dhar, New Delhi 1992-93<br />
Mr. A K Rungta, Calcutta 1993-94<br />
Mr. Deepak Banker, Chennai 1994-95<br />
*Mr. A S Kasliwal, Mumbai 1995-96<br />
Mr. K K Modi, New Delhi 1996-97<br />
Mr. Sudhir Jalan, Calcutta 1997-98<br />
Mr. G.P. Goenka, Calcutta 1998-99<br />
Dr. A.C. Muthiah, Chennai 1999-2001<br />
Mr. Chirayu R Amin, Vadodara 2001-2002<br />
Mr. Rajendra S Lodha, Kolkata 2002-<strong>2003</strong><br />
Mr. Yogendra Kr. Modi, Gurgaon <strong>2003</strong>-<strong>2004</strong><br />
* Since deceased<br />
39TH ANNUAL REPORT <strong>2003</strong>-04<br />
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International Co-operation Agreements<br />
The <strong>Council</strong> has established a high international pr<strong>of</strong>ile and provide legal and arbitration facilties. ICA has<br />
signed cooperation agreements with 40 major arbitral centres around the world. India is a Signatory to the New<br />
York Convention.<br />
1. The Board <strong>of</strong> Trade <strong>of</strong> Thailand<br />
2. The Korean Commercial <strong>Arbitration</strong> Association<br />
3. The Yugoslav Chamber <strong>of</strong> Economy, Belgrade<br />
4. The Bulgarian Chamber <strong>of</strong> Commerce & Industry, S<strong>of</strong>ia<br />
5. The Chambers <strong>of</strong> Commerce and Industry <strong>of</strong> the Socialist Republic <strong>of</strong> Romania<br />
6. The International Chamber <strong>of</strong> Commerce, The Court <strong>of</strong> <strong>Arbitration</strong> <strong>of</strong> the International Chamber <strong>of</strong><br />
Commerce, The <strong>Indian</strong> National Committee <strong>of</strong> the International Chamber <strong>of</strong> Commerce<br />
7. The Asian-African Legal Consultative Committee, The Regional Centre for <strong>Arbitration</strong> at Kuala Lumpur<br />
8. The Scottish <strong>Council</strong> for <strong>Arbitration</strong><br />
9. The Australian Centre for International Commercial <strong>Arbitration</strong><br />
10. The Nederlands Arbitrage Instituut, Rotterdam<br />
11. The <strong>Arbitration</strong> Institute <strong>of</strong> the Stockholm Chamber <strong>of</strong> Commerce, Stockholm<br />
12. The American <strong>Arbitration</strong> Association<br />
13. The Danish Committee <strong>of</strong> International Arbitrators<br />
14. The Permanent <strong>Arbitration</strong> Court <strong>of</strong> the Mauritius Chamber <strong>of</strong> Commerce and Industry<br />
15. The Chamber <strong>of</strong> Commerce and Industry <strong>of</strong> the Russian Federation<br />
16. The German Institution <strong>of</strong> <strong>Arbitration</strong><br />
17. The Cairo Regional Centre for International Commercial <strong>Arbitration</strong><br />
18. The <strong>Arbitration</strong> Court Attached to the Economic Chamber <strong>of</strong> the Czech Republic<br />
19. The Swiss <strong>Arbitration</strong> Association<br />
20. The Cameroon Committee <strong>of</strong> <strong>Arbitration</strong>, Douala<br />
21. Ghana <strong>Arbitration</strong> Centre<br />
22. Greek <strong>Arbitration</strong> Association, Athens, Greece<br />
23. The Tokyo Maritime <strong>Arbitration</strong> Commission <strong>of</strong> the Japan Shipping Exchange, Inc.<br />
24. The Philippine Dispute Resolution Center, Inc.<br />
25. The <strong>Arbitration</strong> Centre <strong>of</strong> the Institute for the Development <strong>of</strong> Commercial Law & Practice Srilanka<br />
26. The Association <strong>of</strong> Arbitrators, South Africa<br />
27. The Chartered Institute <strong>of</strong> Arbitrators, London<br />
28. The London Court <strong>of</strong> International <strong>Arbitration</strong><br />
29. The Chamber <strong>of</strong> National and International <strong>Arbitration</strong> <strong>of</strong> Milan<br />
30. The Greek <strong>Arbitration</strong> Association, Athens, Greece<br />
31. Mediterranean Aritration <strong>Council</strong> Legal Seat, Milan, Italy<br />
32. The Association <strong>of</strong> Arbitrators <strong>of</strong> Nigeria, Lagos, Nigeria<br />
33. The WIPO <strong>Arbitration</strong> and Mediation Center World Intellectual Property Organization, Geneva Switzerland<br />
34. The China International Economic and Trade <strong>Arbitration</strong> Commission<br />
35. The Chartered Institute <strong>of</strong> Arbitrators, Kenya Branch<br />
36. The Polish <strong>Arbitration</strong> Association, Poland<br />
37. The G.C.C. Commercial <strong>Arbitration</strong> Centre, Bahrain<br />
38. The Bahrain Centre for International Commercial <strong>Arbitration</strong> (BACICA), Bahrain<br />
39. The Federation <strong>of</strong> Bangladesh Chambers <strong>of</strong> Commerce & Industry, Dhaka<br />
40. The <strong>Arbitration</strong> Association <strong>of</strong> the Republic <strong>of</strong> China
ICA AND ITS SERVICES<br />
Institutional<br />
<strong>Arbitration</strong> Clause<br />
saves time<br />
and prevents complication<br />
choose ICA Rules<br />
<strong>of</strong> <strong>Arbitration</strong><br />
and Venue<br />
to be in India
CYMK<br />
ICA MISSION<br />
‘The’ ideal forum for Institutional <strong>Arbitration</strong> which is Les Justes*<br />
L - Low Cost<br />
E - Efficient<br />
S - Simple<br />
J - Just<br />
U - User Friendly<br />
S - Speedy<br />
T - Trust Worthy<br />
E - Equitable<br />
S - Serviceable<br />
*French Word - Meaning “The Just”<br />
ICA Branch Offices / State Level Offices<br />
Mr. S L Khurana<br />
Dy Secretary<br />
<strong>Indian</strong> <strong>Council</strong> <strong>of</strong> <strong>Arbitration</strong><br />
Federation House<br />
Tansen Marg, New Delhi-110001<br />
Phone : 91-11-23738760-70, 23719103<br />
Fax : 91-11-23320714, 23721504 Email : ficci@ficci.com<br />
Western Region<br />
Mr. P.N Mogre, Secretary General<br />
IMC Buildings, IMC Marg,<br />
76, Veer Nariman Road,<br />
Churchgate, Mumbai - 400 020<br />
Ph: 020- 22046633, Fax: 022- 22048508<br />
State <strong>of</strong> Karnataka<br />
Dr. C Manohar, Secretary<br />
Federation <strong>of</strong> Karnataka Chambers <strong>of</strong> Commerce and Industry,<br />
Federation House, Kempegowda Road<br />
Bangalore - 560 009<br />
Ph: 080 - 22262157, 22262355/56; Fax: 080 - 22251826<br />
State <strong>of</strong> Andhra Pradesh<br />
Ms. M Hemlata, Secretary<br />
Federation <strong>of</strong> Andhra Pradesh Chambers <strong>of</strong> Andhra Pradesh<br />
Chamber <strong>of</strong> Commerce and Industry,<br />
11-6-841, Red Hills, Hyderabad - 500 004<br />
Ph: 040 - 23393428, 23393658; Fax: 040 - 23395083, 23393712<br />
Eastern Region<br />
Mr. N Arif, Secretary General,<br />
<strong>Indian</strong> Chamber <strong>of</strong> Commerce<br />
4, India Exchange Place,<br />
Kolkata - 700 001<br />
Ph: 033-22203242-44; Fax:033- 22213377<br />
State <strong>of</strong> Rajasthan<br />
Dr.K.L Jain, Hon. Secretary<br />
Rajasthan Chambers <strong>of</strong> Commerce & Industry, Rajasthan<br />
Chamber Bhawan, M.I Road, Jaipur - 302 003<br />
Ph: 0141- 2565163; Fax: 0141-2561419<br />
State <strong>of</strong> Kerela<br />
Mr. S.A Mansoor, Secretary<br />
Kerela Chambers <strong>of</strong> Commerce & Industry, Chamber Corner,<br />
Shanmughan Road, Cochin - 682 031<br />
Ph: 0484 - 354885, 380950 Fax: 0484 - 374253<br />
State <strong>of</strong> Maharashtra<br />
Mr. D.K Abhyankar, Director General<br />
Mahratta Chamber <strong>of</strong> Commerce, Industry & Agriculture,<br />
Tilak Marg, Pune - 411 002<br />
Ph: 020- 4440371, 4440472 Fax: 020- 4447902<br />
State <strong>of</strong> Orissa<br />
Mr. Debabrata Dash, Secretary<br />
Utkal Chambers <strong>of</strong> Commerce & Industry,<br />
301, Vandana Apartments, Vivekananda Marg,<br />
Bhubaneswar - 751 002<br />
Ph: 0674- 2301211, 2344056 Fax: 2302059<br />
North-East States<br />
Mr. D.K Sharma, Secretary,<br />
North - East Chamber <strong>of</strong> Commerce & Industry, Zoo Road Tiniali,<br />
Opp. Geeta Nagar Police Station,<br />
Guwahati - 781 024<br />
Ph: 0361 - 2417074; Fax: 0361 - 2410461<br />
<strong>Indian</strong> <strong>Council</strong> <strong>of</strong> <strong>Arbitration</strong><br />
Federation House, Tansen Marg, New Delhi - 110 001<br />
Ph. : 23719103, 23319849, 23319760, 23738760-70 (11 lines)<br />
Fax : 23320714, 23721504; Website : www.bisnetworld.net/icanet<br />
CYMK