The judiciary should avoid delays in foreign investors and arbitration cases. The country will not have to face claims in international forums under Bilateral Investment Treaties (BIT). Supreme Court Chief Justice (CJI) SA Bobde said this on Monday. CJI Bobde was speaking on the occasion of the release of the book of the Supreme Court judge Indu Malhotra, written on arbitration laws.
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In its statement, the CJI said that due to the activities of the Indian judiciary, India has faced many claims on the international stage under the BIT. This is unexpected. The judiciary can do this to avoid delays in such cases. The CJI expressed concern that most of the international claims cases are meant to hinder the proceedings of criminal investigations in India. He also advocated for an improvement in the investor-state Dispute Settlement Mechanism.
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Cases of BIT fall under this mechanism. The CJI said that the judges should consider every aspect during the hearing in the case involving foreign entities. At the same event, Law Minister Ravi Shankar Prasad expressed concern that in such cases, often the US, UK, and Europe do not have to pay huge damages. He said that India wants to be the center of institutional arbitration and hearing of foreign affairs will also be allowed here.
