New Delhi: The GD Goenka CIArb (India) International Commercial Arbitration Competition 2018 was held at Hyatt Regency here on 1st December, 2018. The inaugural session saw many legal luminaries share their thoughts on the importance of arbitration law, legal ethics and international commercial arbitration law.
Prof. Dr. S Shantakumar, Pro Vice Chancellor, GD Goenka University, welcomed the participating teams of the Arbitration Competition in his address and inaugurated the event. The guests were felicitated by Mr. Nipun Goenka, Managing Director, GD Goenka University. In his presidential address Prof. Dr. Suku Bhaskaran, President, GD Goenka University explained the importance of moot courts to law students which help them understand the practical aspects of the different branches of law.
Dr. Lalit Bhasin, President CIArb (India), President, SILF, delivered his keynote address while shedding light on how Arbitration Law is litigant friendly and emphasised on the professional ethics in Arbitration Law. He also appreciated the students who participated in the competition who came from various universities across the globe. This year the Competition saw participant students from Iran as well.
The future of Arbitration in India and how it has turned out to be a better dispute resolution mechanism than all the other mechanisms was discussed by Hon’ble Mr. Justice Lingala Narasimha Reddy, Chairman, Central Administrative Tribunal, Principal Bench, New Delhi in his special address to the gathering.
Former Chief Justice of India, Hon’ble Mr. Justice Dipak Misra, in his inaugural address presented to the audience the pragmatism of dispute settlement mechanism in today’s world. He also spoke about legal ethics and how important it is for law students to understand law in the complete sense. He also advised them that they will be expanding their horizons by immersing themselves in Arbitration as a central dispute resolution mechanism. The Former CJI is best known for his landmark judgements in India during his tenure.
The inauguration ceremony of GD Goenka CIArb (India) International Commercial Arbitration Competition 2018 was concluded with the thankful words of Prof. Dr. P Lakshmi, Associate Dean, School of Law, GD Goenka University. Thus the event was kicked off with all the dignitaries taking upon the roles of torchbearers for the three-day arbitration festivities.