Mediation and conciliation provide a voluntary ADR pathway resolving corporate disputes with confidential, binding settlement validation.
The Companies (Mediation and Conciliation) Rules, 2016 provide a statutory ADR framework under Section 442 for resolving corporate disputes through voluntary mediation and conciliation, applicable to disputes among shareholders, creditors, directors and companies. Mediators are appointed from authorised panels, must be neutral and qualified, and the process is confidential and time limited to promote prompt resolution. A written settlement signed by the parties and the mediator is treated as binding and is submitted for formal approval; failure to settle permits parties to pursue adjudication. (AI Summary)
The Companies (Mediation and Conciliation) Rules, 2016 provide a statutory ADR framework under Section 442 for resolving corporate disputes through voluntary mediation and conciliation, applicable to disputes among shareholders, creditors, directors and companies. Mediators are appointed from authorised panels, must be neutral and qualified, and the process is confidential and time limited to promote prompt resolution. A written settlement signed by the parties and the mediator is treated as binding and is submitted for formal approval; failure to settle permits parties to pursue adjudication. (AI Summary)
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