Gurgaon: In a bid to decongest the Indian legal system, LegalPay, India’s largest litigation financier, has launched an Online Dispute Resolution (ODR) wing called Bharat Dispute Resolution (BDR).
BDR is a revolutionary service that will help businesses across the sectors, fintech startups, banks, and NBFCs recover their dues efficiently and manage their portfolio better.
BDR is a digital platform that leverages artificial intelligence, data analytics, and legal expertise to resolve disputes and recover dues in a fast, cost-effective, and hassle-free manner.
Through its cutting-edge technology, which includes automation of bulk notices, tracking responses, administration of stamp duty, and data repository for cases intertwined with the legal services of experienced professionals, it offers a holistic and comprehensive solution for all legal woes.
“We are excited to unveil Bharat Dispute Resolution, an innovative solution poised to redefine the landscape of dispute resolution and tackle the problem of unpaid account receivables”, said Kundan Shahi, Founder & CEO of LegalPay.
BDR leverages the industry’s expertise in online arbitration and mediation and its network of over 5,000 lawyers and arbitrators across the country to provide fast, fair, and cost-effective solutions for resolving disputes arising from unpaid loans, payment defaults, and other issues.
BDR expects to manage 1,00,000 cases by the end of December this year.
“It [BDR] also reduces the burden on the judiciary and promotes alternative dispute resolution methods. We are excited to launch this service and help millions of businesses across India. We are confident that BDR will continue to grow and scale in the coming years and become the preferred choice for dispute resolution across the globe”, Shahi added.
With its new wing, LegalPay aims to empower its clients to focus on growing its business while reducing their bad debts, improving their cash flow, and confidently growing their businesses.
LegalPay is a pioneer in the litigation funding space in India. Since its inception in 2019, LegalPay has underwritten over 30,000 cases across various sectors, including e-commerce, fintech, ed-tech, healthcare, logistics, and manufacturing. LegalPay aims to democratize access to justice and make legal services affordable, accessible, and transparent for everyone. Currently managing over INR 2,600 Crores in claims under management, LegalPay expects to manage INR 5,000 Crores by the end of this year.