SIGN IN SUBSCRIBE

News Update

RBI to issue fresh guidelines for banks to freeze suspected bank accounts being used for cyber crimesIsrael-Iran War: A close shave for Global Economy but for how long?I-T - If income from stock-in-trade are held as investments, then provisions of section 14A would apply to such income: ITATTRAI recommends on Infra Sharing, Spectrum Sharing & Spectrum LeasingI-T- Revisionary powers u/s 263 can't be exercised when AO has neither assumed facts incorrectly nor there is incorrect application of law : ITATTechnology Board okays funding of Dhruva Space's Solar Array ProjectI-T- Issue of interest is debatable issue on which two views are possible and AO accepted one of views for which PCIT cannot assume revisional jurisdiction: ITATHealth Secy visits Bilthoven Biologicals, discusses production of Polio VaccineI-T - Estimation of profit element from purchases should be done reasonably if assessee could not conclusively prove that purchases made are from parties as claimed, in absence of confirmations from them: ITATStudy finds Coca-Cola accounts for 11% of branded plastic pollution worldwideI-T- Triplex flats purchased are interconnected and can be considered as 'a residential unit'' as per definition of section 54F of Act : ITATDelhi HC says conspiracy against PM is a crime against StateI-T- AO omitted to probe issue of cash payments made over specified limit; revisionary power u/s 263 is rightly exercised: ITATBrazil makes new rules to streamline consumption taxesI-T-Power of revision unnecessarily exercised where AO had no scope to examine creditworthiness & genuineness of assessee's creditors: ITATBiden signs rules mandating airlines to give automatic refunds for delayed or cancelled flightsI-T-As per settled law, in absence of enabling powers, no disallowance can be made : ITATBYD trying to redefine luxury for new EV variantsGST - On the one hand, the order states registration is liable to be cancelled retrospectively and on the other hand mentions that there are no dues - Order modified: HCSC asks EC to submit more info on reliability of EVMsRight to Sleep - A Legal lullaby
 
SAROD-Ports launched to redress maritime disputes

By TIOL News Service

NEW DELHI, SEPT 10, 2020: UNION Minister of State for Shipping (I/C) Mr Mansukh Mandaviya today launched ‘SAROD-Ports' (Society for Affordable Redressal of Disputes - Ports) through virtual ceremony today in New Delhi.

Speaking at the launching, Mr Mansukh Mandaviya termed SAROD-Ports as a game changer and added that it will become the pivotal mechanism of ummeed (hope), vishwas (trust) and nyaya (justice) in the Port sector of India. Mr Mandaviya also added that enforcement of concession agreements in the letter and spirit is on the utmost priority. SAROD-Ports will resolve the disputes in fair and just manner while saving huge amount of legal expenditure and time.

Dr Sanjiv Ranjan, Secretary, Ministry of Shipping said that all major Ports are shifting towards ‘Landlord Model' in the days to come. Many concessioners will be working with the Major Ports. SAROD-Ports will inspire confidence in the private players and will ensure right kind of environment for our partners. It will promote ease of doing business in the maritime sector because of the fast, timely, cost effective and robust dispute resolution mechanism.

SAROD-Ports is established under Societies Registration Act, 1860 with the following objectives:

  1. Affordable and timely resolution of disputes in fair manner
  2. Enrichment of Dispute Resolution Mechanism with the panel of technical experts as arbitrators.

SAROD-Ports consists members from Indian Ports Association (IPA) and Indian Private Ports and Terminals Association (IPTTA).

SAROD-Ports will advise and assist in settlement of disputes through arbitrations in the maritime sector, including ports and shipping sector in Major Port Trusts, Non-major Ports, including private ports, jetties, terminals and harbours. It will also cover disputes between granting authority and Licensee/Concessionaire /Contractor   and also disputes between Licensee/Concessionaire and their contractors arising out of and during the course of execution of various contracts.

‘SAROD-Ports' is similar to provision available in Highway Sector in the form of SAROD-Roads constituted by NHAI.

Backgrounder:

The Union Cabinet chaired by Prime Minister Mr Narendra Modi has approved amendments in the Model Concession Agreement (MCA) .In January,2018.The amendments in the MCA, envisaged constitution SAROD-PORTS as dispute resolution mechanism for PPP Projects in the Major Ports.


 


POST YOUR COMMENTS
   

TIOL Tube Latest

TIOL Tube
Shri N K Singh, recipient of TIOL FISCAL HERITAGE AWARD 2023, delivering his acceptance speech at Fiscal Awards event held on April 6, 2024 at Taj Mahal Hotel, New Delhi.

TOP NEWS

AR not Afar by SK Rahman

VISION 360



Shri Ram Nath Kovind, Hon'ble 14th President of India, addressing the gathering at TIOL Special Awards event.

TII LATEST

TIOLCORPLAWS LATEST