International Centre for Alternative Dispute Resolution (ICADR):
- The International Centre for Alternative Dispute Resolution (ICADR), was set up in 1995.
- It works under the aegis of the Supreme Court. The chief justice of India is the ex-officio chairperson of the ICADR, while former law minister H R Bhardwaj is the patron of the institution.
- However, according to critiques, ICADR has not been able to embrace developments in the arbitration ecosystem.
New Delhi International Arbitration Centre, Bill, 2018:
- In this background, the bill has been passed to provide for the establishment and incorporation of New Delhi International Arbitration Centre for –
- creating an independent and autonomous regime for institutionalised arbitration and
- take over the undertakings of the ICADR.
- According to the bill, a high-level committee headed by Justice B N Srikrishna, a former Supreme Court judge, was constituted to promote institutional arbitration and make India its hub.
