ICSI Announces International ADR Center to Tackle Mounting Court Backlogs
In a significant move to alleviate the overwhelming pressure on India's judicial system and expedite the resolution of disputes, the Institute of Company Secretaries of India (ICSI) has unveiled plans to establish an international center for Alternative Dispute Resolution (ADR). This initiative aims to create a parallel mechanism specifically designed to handle commercial and civil disputes with greater efficiency and speed, addressing critical concerns over prolonged legal delays.
Addressing Judicial Overload with Systemic Alternatives
Speaking exclusively to TOI, ICSI national president Pawan Chandak emphasized that the drive behind this initiative stems from alarming judicial backlogs, referencing remarks by Chief Justice of India Surya Kant. "Today the judiciary is so overloaded that it will take decades to solve all the registered cases," Chandak stated, highlighting the urgent need for systemic alternatives to prevent cases from languishing in courts for years. The ADR center is positioned as a complementary forum to the formal judicial system, intended to divert disputes to specialized channels for quicker outcomes.
Expansion Plans and Global Reach
The proposed ADR center will be initially set up in Noida, with strategic expansion plans already in motion for major Indian cities including Delhi, Mumbai, and Chennai. Additionally, ICSI aims to establish international hubs in key global locations such as Dubai, Singapore, Hong Kong, and London. Chandak explained that this platform is designed to "create a structured ecosystem" for arbitration and mediation, fostering a more organized approach to dispute resolution that can handle cross-border commercial issues effectively.
Broadening Engagement with Emerging Businesses
Beyond its focus on dispute resolution, ICSI is actively expanding its role in supporting emerging businesses through various initiatives:
- Startup and MSME Catalyst Programme: This programme equips company secretaries with specialized expertise in business registration, financing, and compliance, tailored to the needs of startups and micro, small, and medium enterprises.
- Global Outreach and Corporate Governance: In collaboration with the Ministry of External Affairs, ICSI is strengthening its international presence. The "Corporate Governance for Better Tomorrow" programme focuses on critical areas such as environment, social, governance (ESG) disclosures, sustainability, and global risk management.
New Academic Programmes and Inclusivity Efforts
ICSI has introduced several new academic programmes to enhance professional development and inclusivity:
- Professional Reboot Course: Specifically designed for women returning to the workforce, this course helps them reintegrate into professional roles with updated skills.
- MBA in Maritime Regulations and Compliance Management: A two-year programme offered in partnership with Gujarat Maritime University, focusing on maritime industry compliance.
- Certification Course on UAE Business Management: Aimed at professionals seeking expertise in business operations within the United Arab Emirates.
In a push for greater inclusivity, ICSI is offering full fee waivers for children of armed forces personnel, Agniveers, and students from Jammu and Kashmir and Ladakh. Furthermore, the ICSI Institute of Social Auditors has developed 16 social audit standards under Securities and Exchange Board of India regulations, along with a new compliance framework focused on the prevention of workplace sexual harassment, underscoring the institute's commitment to ethical practices and social responsibility.
