The law department of the Telangana state government issued an order designating the International Arbitration and Mediation Centre (IAMC) in Hyderabad as the arbitral/mediation institution for all contracts above INR30 million (USD393,000) where the ministries, departments, public sector companies and other entities controlled or managed by the government of Telangana are a party.
The order also instructs all public entities to discuss amending subsiding contracts valued above INR100 million and designate the IAMC as the arbitration/mediation institution.
Furthermore, arbitral tribunals have been asked to use IAMC facilities and services for conducting their proceedings for ongoing ad-hoc arbitrations valued at more than INR100 million where the government of Telangana is a party.
The IAMC was inaugurated by Chief Justice NV Ramana in mid-March in a stone-laying ceremony for its construction. The institution currently operates from a temporary campus in the Nanakramguda area of Hyderabad.
The state government says the institution will promote alternate dispute resolution (ADR), provide an effective avenue for access to justice, and reduce the caseloads of the courts in the state.
Hyderabad has been home to key industries and leading IT businesses such as Facebook, Google, IBM and Microsoft, as well as several other global organisations with a substantial presence in the state.