Bangalore Chamber of Industry and Commerce
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BCIC – BIMACC MEDIATION CENTRE
OBJECTIVE
THE OBJECTIVE OF THE BCIC-BIMACC MEDIATION CENTRE IS AS UNDER:
- BCIC to set up a Mediation centre to foray Mediation as an alternate, quick and viable Dispute Resolution Mechanism for the members of BCIC
- Chamber to actively promote and popularising Commercial Mediation
- Business houses need not waste time on litigations which helps better understand counter party perspective to arrive at middle path which is cost effective
WHY HAS MEDIATION BECOME IMPORTANT?
- Supreme Court has now mandated that pre-litigation mediation is mandatory for all commercial suits initiated.
- Any Commercial suit to be instituted will have to first exhaust the remedy of Mediation.
- Mediation process getting institutionalized with laws and Rules to be in place.
Mediation is one of the Alternative Dispute Resolution Methods contemplated under Section 89 of the Code of Civil Procedure enacted by the Parliament. In a landmark decision, India’s Supreme Court held that pre-litigation mediation is mandatory for all commercial suits initiated. The court held that Section 12A of the Commercial Courts 2015 Act, the enabling provision for pre-litigation mediation, is mandatory in nature. Thus, any commercial suit instituted before a commercial court under the 2015 Act without first exhausting the remedy of pre-litigation mediations shall be rejected under the Code of Civil Procedure, 1908.
Further based on the Parliamentary Standing Committee Report on Mediation Bill, 2022, the Standing Committee on Law and Justice has recommended substantial changes to the Mediation Bill, 2021. BCIC was part of the various discussions and have made representations. The Mediation Bill is in the final stage and will be passed soon. This will give a boost for the mediation process.
Bangalore Chamber of Industry and Commerce (BCIC), the apex Chamber in the State of Karnataka in association with Bangalore International Mediation, Arbitration and Conciliation Centre (BIMACC) signed a MOU on 5 th March 2021 for setting up of a “BCIC BIMACC Mediation Centre” amidst an elite gathering consisting of Mr. Justice Cyriac Joseph, Lok Ayukta, Kerala, Honorary Chairman, BIMACC, Former Judge Supreme Court of India and former Chief Justice of Karnataka and Chairman, BIMACC, Mr. T R Parasuraman, President, BCIC, Mr. Justice Deepak Verma Former Judge Supreme Court of India and former Chief Justice of Rajasthan and Honorary Vice Chairman BIMACC, Adv. B C Thiruvengadam, Honorary Director, BIMACC, Dr. L Ravindran, Vice President, BCIC, Adv. (Dr.) K V Omprakash, Chairman of Banking Finance & corporate Affairs, BCIC, Mr. N Venkatakrishnan, Mentor for the BFCA committee, BCIC and Mr. Raju Bhatnagar, Member, BCIC. Also, present during the sign off event were Ms. Justice Roshan Dalvi, former Judge, Bombay High Court and Mr. Justice Gururajan, former Judge, Karnataka High Court. However, due to COVID situation and other operational hitch the activities were slowed. However, Past President Mr. K R Sekar, immediate past Present President, Dr. L Ravindran and President, Dr. S Devarajan have given impetus to this drive and have made BCIC-BIMACC MEDIATION CENTER as one of the agenda of the year 2023-2024.
BCIC will perhaps be the first Chamber in India to provide mediation services for resolving commercial disputes among business houses, downsizing the long-time taken for settlement of disputes at the mutual interest of the parties involved. In recent times, the alternate dispute resolution mechanism has proven to be an efficacious method to resolve commercial disputes.
The members of the BCIC will benefit from the BCIC BIMACC Mediation centre to solve their disputes amicably and continue relationship even thereafter. As an initial step, BCIC will insist on its members to incorporate a clause for mediation in all its existing/future agreements.
BIMACC with its experience in dispute resolution shall be the Knowledge partner as per the arrangement between BCIC and BIMACC. The BCIC BIMACC mediation Centre through a Panel of trained and experienced mediators will ensure high quality mediation process as an alternative dispute resolution to the MSME and larger corporates. All Mediations at the BCIC BIMACC mediation Centre shall be conducted under the Rules of Mediation.