The ICAS will have eight members -- all retired justices of higher judiciary -- including former Supreme Court judge A R Lakshmanan.
"In pursuance to the direction of International Olympic Committee and decision of Annual General Meeting of the Indian Olympic Association to constitute Court of Arbitration for Sports to settle all sports related disputes, the IOA hereby constitutes Indian Court of Arbitration for Sports (ICAS)," an IOA statement said.
"The Disputes Commission of the IOA will co-ordinate. All disputes in relation to sports under the Indian Olympic Association will be decided by the Indian Court of Arbitration for Sports henceforth," the statement added.
The seven other members of the ICAS are Justices M R Culla, R S Sodhi, B A Khan, Usha Mehra, J K Mehra, Lokeshwar Prasad and S N Sapra.