The CA Institute’s Central Council has given its nod for rollout of ICAI International ADR Centre across the country through its branch network to resolve commercial disputes efficiently and effectively.
The Institute of Chartered Accountants of India (ICAI) has established a Section 8 company (non-profit) for this purpose.
“Our council on Monday approved the rollout of ICAI International ADR Centre. It will be run out of our branches across the country with the support of Union Law Ministry. It will initially offer mediation services to our members,” Ranjeet Kumar Agarwal, outgoing President of ICAI, told businessline here.
Tuesday was the last day in office for Agarwal as the ICAI President. He will be succeeded on Wednesday by Charonjit Singh Nanda, who is currently Vice-President of ICAI.
Ranjeet Kumar Agarwal, President, ICAI, said, “With a growing need for out-of-court settlements and the government’s emphasis on ADR mechanisms, the ICAI ADR Centre will serve as a neutral and professional platform for dispute resolution. It is expected to contribute significantly to reducing litigation burdens and fostering a culture of reconciliation”.
Charanjot Singh Nanda, Vice-President, ICAI, said, “ICAI aims to enhance India’s legal and economic ecosystem by aligning with global standards and strengthening India’s position as an emerging economic powerhouse. The Centre will play a pivotal role in ensuring faster, cost-effective, and reliable dispute resolution, thereby reinforcing trust in India’s business environment.”
The ADR Centre will eventually cater to businesses, professionals and organisations seeking cost-effective and timely dispute resolution mechanisms. By offering structured mediation and arbitration services, ICAI aims to enhance the credibility and accessibility of alternative dispute resolution in both domestic and international business environments.
With the launch of this landmark initiative, ICAI continues to expand professional opportunities for its members, equipping them with new avenues in dispute resolution and solidifying their role in the evolving global economic landscape, according to Agarwal.
