Quick Summary
The Institute of Chartered Accountants of India (ICAI), the apex body for chartered accountants, has announced the establishment of the ICAI International ADR Centre. The initiative aims to promote and institutionalise alternate dispute resolution (ADR) mechanisms across the country, offering a structured platform for resolving commercial disputes. The setting up of this centre represents ICAI's strategic foray into the crucial ADR domain, which plays a key role at the intersection of commerc
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FAQ :
The ICAI International ADR Centre is a new initiative launched by the Institute of Chartered Accountants of India (ICAI) to promote and institutionalise alternate dispute resolution (ADR) mechanisms in India.
The main goal is to provide a structured platform for resolving commercial disputes, reduce litigation burdens, and foster quicker, cost-effective dispute resolutions.
The centre is registered as a Section 8 company and will focus on creating a robust ecosystem for commercial dispute resolution by using transparency and technology-driven mechanisms.
It is expected to significantly strengthen India's capabilities in handling complex commercial disputes and enhance the ease of doing business.
ADR refers to methods of resolving disputes outside of traditional court litigation, such as mediation or arbitration, which are increasingly recognised as vital tools for efficient resolution.
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