ICSI Establishes International ADR Centre to Combat Judicial Overload
In a significant move to alleviate the mounting pressure on India's court system and expedite dispute resolution, the Institute of Company Secretaries of India (ICSI) has unveiled plans to create an international centre for Alternative Dispute Resolution (ADR). This initiative aims to serve as a parallel mechanism for handling commercial and civil disputes more efficiently, addressing concerns over prolonged judicial delays.
Addressing Decades-Long Court Backlogs
Speaking exclusively to TOI, ICSI national president Pawan Chandak highlighted the critical need for this initiative, 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, emphasizing the urgency for systemic alternatives to the formal legal process. The ADR centre is designed to divert disputes to specialised forums, creating a structured ecosystem for arbitration and mediation that complements rather than replaces the traditional court system.
Expansion Plans Across India and Globally
The proposed ADR centre will be initially established in Noida, with ambitious expansion strategies to major Indian cities including Delhi, Mumbai, and Chennai. Additionally, ICSI plans to set up international hubs in key global locations such as Dubai, Singapore, Hong Kong, and London. This widespread network aims to provide accessible and efficient dispute resolution services for businesses and individuals engaged in cross-border and domestic conflicts.
Broadening Engagement with Emerging Businesses
Beyond dispute resolution, ICSI is actively expanding its role in supporting new and growing enterprises. The institute has launched the Startup and MSME Catalyst programme, which equips company secretaries with specialized expertise in areas like business registration, financing, and regulatory compliance. This initiative is part of a broader effort to foster entrepreneurship and economic growth.
Global Outreach and Academic Innovations
In collaboration with the Ministry of External Affairs, ICSI is strengthening its global outreach through programmes like "Corporate Governance for Better Tomorrow", which focuses on environment, social, governance (ESG) sustainability disclosures, and global risk management. The institute has also introduced several new academic programmes:
- A "Professional Reboot" course tailored for women returning to the workforce after a hiatus.
- A two-year MBA in Maritime Regulations and Compliance Management, developed in partnership with Gujarat Maritime University.
- A certification course on UAE business management to prepare professionals for international markets.
Promoting Inclusivity and Social Responsibility
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 (SEBI) regulations, alongside a new compliance framework aimed at preventing workplace sexual harassment. These efforts underscore the institute's commitment to social responsibility and ethical business practices.
Overall, ICSI's multifaceted initiatives represent a proactive approach to modernizing dispute resolution and supporting India's business ecosystem, while addressing critical issues of judicial efficiency and inclusivity.
