Mumbai: The Mumbai Centre of International Arbitration (MCIA) is pleased to announce the launch of the MCIA Rules on the 15th of June 2016. The MCIA Rules will come into effect from this date.
The MCIA’s commitment to bring international best practices to arbitration in India is demonstrated by the MCIA Rules. The Rules reflect best practices from around the world, suitable for both domestic and international arbitrations. The Rules, among other things, provide for consolidation of proceedings, appointment of an emergency arbitrator, procedure for expedited arbitration and scrutiny of awards. The Rules also ensure a cost-effective and transparent arbitration process by providing an upfront schedule of costs.
The MCIA’s Council, comprising of some of the most prominent names in international and domestic arbitration have been formally appointed.
The MCIA’s Secretariat, headed by Madhukeshwar Desai, Chief Executive Officer and Neeti Sachdeva, Registrar & Secretary General are also formally in place.
The MCIA’s purpose-built arbitration facilities will be available from September 2016.