DIFC Courts signs to improve UAE-India trade
DUBAI, 26th September, 2018 (WAM) — The Dubai International Financial Centre (DIFC) Courts has bolstered UAE-India commerce with the signing a Guidance Note with Nishith Desai Associates, covering enforcement of civil and commercial judgments through DIFC Courts and the Courts of India.
The Guidance Note, with one of the leading law firms in India, builds on the DIFC Courts’ strategy of taking practical steps to promote judicial convergence, in this case with the UAE’s third largest foreign trade partner.
With over ten years’ track record of handling complex, transnational disputes as an English language, common law international commercial court, the DIFC Courts is well-positioned to provide detailed guidance to parties seeking recognition and enforcement of civil and commercial judgments in India and the DIFC.
Michael Hwang SC, Chief Justice, DIFC Courts, said, “An increasing number of emerging economies have recognised that investing in efficient and globally connected courts is necessity to compete for world trade and investment – and India is no exception. This Guidance Note with one of India’s leading law firms will enable greater trade security between our two markets and provide much-needed guidance on civil and commercial judgments in both India and Dubai.”
Moazzam Khan, Head – Global Litigation Practice, Nishith Desai Associates, said, “With the UAE-India trade relations reaching new heights, effective dispute resolution and management are indispensable for ease of doing business. A judgment from a court against a party gives birth to a fresh proceeding for execution of that judgment. This Guidance Note is a comprehensive key for parties seeking enforcement of civil and commercial judgments in India and in the DIFC Courts.”