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January 2009

The Government has signed an agreement with Permanent Court of Arbitration (PCA), the Hague, to open its regional facility in India — Information provided by Shri H. R. Bhardwaj, Minister of Law and Justice, in the Lok Sabha.

By Pinky Shah, Sonalee Godbole, Gaurang Gandhi, Chartered Accountants
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Full texts of relevant Notifications, Circulars and Forms are
available on the BCAS website : www.bcasonline.org

Part D : Miscellaneous

24 The Government has signed an agreement
with Permanent Court of Arbitration (PCA), the Hague, to open its regional
facility in India — Information provided by Shri H. R. Bhardwaj, Minister of Law
and Justice, in the Lok Sabha.

This would provide more frequent recourse to international
arbitration as a means of settling disputes since the cost would reduce
considerably. This would apply to disputes between two states as well as foreign
companies having some concern in India or vice versa. It would also open
newer avenues of practice for legal fraternity.

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