A Centre for Alternative Dispute Resolution was launched at the premises of The Southern India Chamber of Commerce and Industry (SICCI) here on Monday.
The SICCI Centre for ADR was inaugurated by Justice TS Sivgnanam of the Madras High Court. Launched in the backdrop of the ‘Arbitration & Conciliation Amendment Bill, 2018’, the Centre will formulate tailor-made arbitration rules for businesses.
The Amendment Bill proposes to formulate Arbitration Council of India (ACI) to grade arbitration institution and enlist arbitrators in India with a potential to develop India as a global hub for international arbitration.