Highlights of the 2023 Delhi Discourse event organised by the Federation of Indian Corporate Lawyers

The Delhi Discourse 2023 organised by the Federation of Indian Corporate Lawyers (FICL) saw some interesting insights emerge across seven panel discussions and addresses by eminent personalities of the legal profession..The broad theme of the day-long conference, held at the Hotel Taj Palace on May 26, was Navigating India's Legal Terrain in the Era of Amrit-Kaal.The opening remarks were delivered by FICL Founder & CEO Dr Ashok Sharma. .In his address, President of the Society of Indian Law Firms (SIFL) Dr Lalit Bhasin said that the litigation scenario in the country was disconcerting, given the rising pendency of cases and subsequent delays in common citizens being delivered justice.He said that the answer lay in alternate dispute resolution (ADR) mechanism, like institutionalised arbitration, mediation and settlements. He asked legal practicioners to develop the necessary skills in this regard.Pertinently, he stessed that any Amrit Kaal in the profession can perhaps follow the statutory recognition of in-house counsel, and by making use of the wide experience they have..Attorney General (AG) R Venkataramani said that it would be desirable if the Law Commission of India taps into the potential and knowledge base of organisations like the FICL, in an era where Environment, Social and Corporate Governance (ESG) has emerged from beyond orthodox practices..The first panel discussion was on changes in the legal industry, moderated by Bar & Bench's Editor-in-Chief, Pallavi Saluja.Accenture Managing Director (Legal) Rajeev Chopra said that cost pressures and the need for specialisation were challenges currently being faced by in-house counsel,Alvarez & Marshal's India Disputes and Investigations Practice Managing Director Vishal Narula spoke on the challenges emerging with Indian companies increasingly going global.General Electric South Asia's General Counsel Vani Mehta opined that the role of an in-house counsel was ever-changing and was no longer restricted to statuory compliance and contract management..On whether Artifical Intelligence (AI) would replace counsel in the near future, the panel had split views.Narula and Mehta opined that certain things can be done by AI and India will be the hub for the same, but counsel cannot be replaced.Tech Mahindra Group Global General Counsel Vineet Vij said that job losses were inevitable and this is a conversation that needs to be had in the coming months.Chopra and Hindustan Petroleum's Legal Marketing head Rajendra Lade disagreed with the same.Mehta conceded that technology budgets for companies would rise, and counsel would have to repurpose accordingly..The lawyers on the panel by and large welcomed the recent changes to Bar Council of India Rules allowing foreign law firms and lawyers to practice in India on a reciprocal basis.Vij hoped that it would stop arbitration involving Indian parties being conducted in Singapore.Mehta opined that the opportunity was huge, but said some customisations to the Indian scenario would be ideal.On the top trends in the profession as on date, Vij mentioned specialisation and AI, Mehta said leaner teams and increased dependence on technology, while Narula opined that General Counsel would play a growth-leader role. Lade said there will emerge a greater need of legal risk analysis..In response to the panel's views, AG Venkataramani pointed out that his interns took the aid of ChatGPT to help prepare farewell speeches for retiring judges. Bhasin said that increased technology can help in only better filing of cases, not their disposal, particularly at the district court level..The next session dealt with the role of company law tribunals and the Insolvency and Bankruptcy Code in revitisating the corporate insolvency framework in the country.Founder President of the National Company Law Tribunal, retired Justice MM Kumar in his opening address stressed the need to speed up the resolution process and to bring about uniformity in the conduct of proceedings across such tribunals.MCO Legal Managing Partner Amit Meharia called for a standardisation of moratorium periods..During the session on Intellectual Property (IP) Rights, former Delhi High Court judge Justice Manmohan Singh said that in India, IPR norms tended to come first before being formally codified. He stressed that registration of copyright was a must even though not mandatory, to prevent infringement.ICICI Bank General Counsel Nilanjan Sinha mentioned that there was increasing development of IP rights with the advent of Software as a Service (SaaS) companies. Temasek Group Legal Director Meenal Maheshwari stressed that it is non-negotiable for Group Counsel to be well-versed with IP laws and their impact, as they create brand value. Further, in the era of Artificial Intelligence, IPR is easily breached, which validates the need for registration, she added..During a panel discussion on Environmental, Social and Governance (ESG), Dhir & Dhir Partner Sonal Verma said that steps for ESG need to be taken and promoted by corporates.These include inclusivity measures like observing Pride Month, he said..In the sessions concerning dispute resolution, retired Supreme Court judge Justice Hemant Gupta flagged the prevalence of ad-hoc arbitration in which, among other things, fees and duration of proceedings tended not to be capped.He underscored that at the India International Arbitration Centre (which he is the Chairperson of) at least, the practice of empanelling only retired judges to be arbitrators would gradually be done away with."It is said that China is a dragon and India an elephant, in terms of movement. We will move and bulldoze everyone else now (in arbitration), though we are 30 years late as compared to Singapore"..Recent Supreme Court judgment on validity of unstamped arbitration agreements incorrect: Justice Hemant Gupta .Alvarez and Marsal's Managing Director of Disputes and Investigations Gagan Puri said that commercial considerations are involved while appointing arbitrators. He flagged the fact that the country was still relatively paper-heavy in legal proceedings..The session on international dispute resolution was moderated Shwetha Bidhuri, Director & Head (South Asia) of the Singapore International Arbitration Centre (SIAC).Some of the panellists flagged lengthy arbitration related court orders including those of appointing arbitrators in the country.DSK Legal Partner Samir Malik cautioned against companies having an exclusive jurisdiction clause in their arbitration agreements that differed from the concerned seat of arbitration.Khaitan & Co Partner Sahil Narang said that financial and time considerations, as well the complex nature of disputes today, were helping move transition to institutional over ad-hoc arbitration.Managing Partner at Dentons Link Legal Nusrat Hassan said parties have to ensure that they put in explicit arbitration clauses in their agreements for any transaction..In the panel discussing the new rules permitting foreign advocates to practice in the country, Additional Solicitor General Jayant Sud sought to allay apprehensions regarding the move. He reasoned that the move was part of integrating with the global economy..The event concluded with the release of the results of the survey conducted by FICL and the Centrel for Trade and Investment Law (CTIL) on Dispute Resolution..Delhi High Court judge Justice Navin Chawla, GAIL Law Adivsor Dr Subir Bikas Mitra, former Union Law Secretary PK Malhotra, Group Legal president of JK Industires Rajbeer Sachdeva, CTIL head Dr James Nedumpara, Dentons Link Legal Executive Chairperson Atul Sharma, Indraprastha Gas Limited Senior vice-president Sunil Jain, HT Media vice-president Sachin Kalra, Ameet Naik, DCM Shiram vice-president Sameet Gambhir, Khaitan & Co Partners Nirupam Lodha, and Aseem Chaturvedi also took part in the panel discussions. Akzonobel Legal Head India Roop Lamba, Freshworks Director Legal Pranav Mehra, Desai and Diwanji Senior Partner Sumant Nayak, Additional Law Secretary Dr Anju Rathi Rana, Hero Corporate vice-president Nirupam Srivastava, SIDBI Deputy MD VSV Rao, South Asia Director of the Singapore International Arbitration Centre Shwetha Bidhuri, ONGC Legal Services General Managar Sandhya Yadav, and Luthra & Luthra Law Offices Partner Tamal Mandal also spoke at the event..The FICL Delhi Discourse 2023 followed the FICL Inaugural summit that took place on May 27 last year.FICL is a non-profit organisation with a membership of over 1,700. It is the only national platform in India that has connections across 18 different jurisdictions worldwide as a member of In-House Counsel Worldwide (ICW), Asia Pacific Corporate Counsel Alliance (APCCA), and The African Corporate and Government Counsel Forum (ACGC Forum), thereby enabling global networking opportunities.