New Delhi [India], July 30 (ANI): The Institute of Chartered Accountants of India (ICAI) on Monday announced the launch of the International ADR Centre (IIAC), which will mark a significant milestone in India's alternative dispute resolution landscape.

Addressing a press conference, ICAI President Charanjot Singh Nanda said that this evening, Arjun Ram Meghwal, Minister of State (Independent Charge) for the Ministry of Law & Justice, will launch the ADR centre.

The IIAC, to be established as a Section 8 company under ICAI's aegis, will represent the institute's strategic entry into the alternative dispute resolution domain, aiming to promote and institutionalise ADR mechanisms across India. The centre will operate at the crucial intersection of commercial, legal, and economic interests of the nation.

Addressing the media, Nanda said, 'In this evolving business ecosystem, effective dispute resolution is no longer a procedural formality; it is a strategic necessity,' he said.

'IIAC aims to provide this necessity with credibility, neutrality, and efficiency, values that are at the core of ICAI's professional ethos.'

The IIAC will function as a specialised institutional platform offering comprehensive dispute resolution services, including arbitration, mediation, conciliation, and negotiation. These services will be professionally managed, process-driven, and benchmarked against global standards, ensuring structured and time-bound resolution mechanisms.

The new centre promises to strengthen India's commercial dispute resolution ecosystem through a transparent and technology-enabled mechanism designed to inspire confidence among both domestic and international stakeholders. Operating under a robust governance framework, the IIAC will maintain the highest standards of integrity, neutrality, and professional excellence.

CA. Prasanna Kumar D, Vice-President of ICAI, outlined the centre's ambitious vision: 'The vision for the IIAC is to establish it as a globally recognised ADR institution that upholds the highest standards of professionalism and integrity, fosters innovation in dispute resolution, and contributes significantly to India's emergence as a preferred destination for commerce and dispute resolution.' (ANI)