SCOPE Forum of Conciliation & Arbitration (SFCA) organized an Interactive Seminar on Arbitration & Insolvency Code “Challenges & Options” on Friday. Justice Swatanter Kumar, Former Judge, Supreme Court & Former Chairperson NGT and the Chief Guest inaugurated the Seminar. Dr. U. D. Choubey (DG, SCOPE), Shourav Lahiri (Founder-Director, Lahiri LCC, Singapore), Dr. S. B. Mitra, ED (Law & HR), GAIL and H. S. Rajpal, GM (CA), IOCL also addressed the inaugural session.

Welcoming the participants, DG, SCOPE said that number of litigations amongst Public Sector is huge and the time taken by the judiciary is also a matter of concern. Welcoming the new Insolvency & Bankruptcy Code (IBC), Dr. Choubey said that IBC is probably one of the biggest reform done by Government of India in fastest possible time.  He said that it is a welcome move by the government to ease the pressure on creditors & companies and also help in quickly resolving the pending cases.

In his inaugural address, Justice Swatanter Kumar while throwing light on various aspects of arbitration and IBC in India said that there is a persistent need to support civil court by having a strong dispute resolution system. He further added that delays in arbitration process should be stopped and Execution & Effectiveness should be a regular feature for arbitration & IBC in India.

Mr. Lahiri gave the keynote address presenting the international perspective of commercial arbitration. Dr. Mitra presented the program perspective while Mr. Rajpal proposed the vote of thanks. The seminar was attended by a huge number of Public Sector Executives.