Business management is not our duty: Justice Vipul Pancholi at DAW 2025 (2025 DAW Hearing: Justice Vipul Pancholi states his lack of business management responsibility)
During the Delhi Arbitration Weekend, Supreme Court Justice Vipul Pancholi spoke at a session, highlighting the transformation of India's commercial justice system over the past decade. The session, hosted by M&Co Legal, Dubai and ALC Lawyers & Counsels, Oman, was attended by Justice Tejas Karia of the Delhi High Court, Dr Mahmood Hussain (Founding Partner of M&Co Legal), Abdulredha Al Lawati (Founder of ALC Counsels & Lawyers), and Tariq Khan (Head of International Arbitration at M&Co Legal).
Justice Pancholi emphasized the importance of party autonomy as the rooting and guiding spirit of arbitration, a principle he had previously emphasized in the landmark case of Balco v Kaiser Aluminium. He also discussed the centrality of the seat of arbitration, a concept that Indian courts have increasingly aligned with global best practices.
The Commercial Courts Act, 2015, enacted to improve India's ease of doing business by creating specialized forums and divisions within High Courts, was also a topic of discussion. The panelists stressed the need for India, UAE, and Oman to harmonize judicial approaches, particularly in interim measures, stamping requirements, and emergency arbitration.
The Insolvency and Bankruptcy Code, 2016 (IBC) was implemented, shifting the framework from a "debtor's paradise" to one focused on corporate revival and value maximization. In the case of Swiss Ribbons Pvt Ltd v Union of India, the Supreme Court made a significant ruling regarding the IBC. The amendments to the Arbitration and Conciliation Act, 1996, which reduced judicial interference and promoted institutional arbitration, were also mentioned.
Justice Pancholi stated that commercial justice relies on the pillars of certainty, swiftness, and efficiency. He stressed that enforcement challenges must be bona fide and not deployed as delay tactics, a point he made in the case of Avital Post Studios Ltd v HSBC. The role of the judiciary, according to Justice Pancholi, is to ensure that the rules of the game are fair and followed, not to run businesses.
The panelists also praised the Dubai International Financial Centre courts and Oman's dedicated investment court for their fast and transparent dispute resolution. The 2024 India-UAE Bilateral Investment Treaty was referenced as a step towards deeper integration. The provided search results did not contain information about the organization Justice Vipul Pancholi experienced during the Delhi Arbitration Weekends or about the conference planned for 2025.
Arbitration has been a primary engine of commercial justice, particularly after amendments to the Arbitration and Conciliation Act, 1996. The Supreme Court permitted limited modifications of awards in the case of Gayatri Balaswamy, but cautioned against review on merits. The Bar Council of India's rules on registration of foreign law firms were mentioned as another step towards deeper integration.
Justice Pancholi's discussion at the Delhi Arbitration Weekend provided insights into the transformation of India's commercial justice system and the ongoing efforts to harmonize judicial approaches with global best practices.
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