Indian Regulatory Services Examination In India

Regulatory bodies like securities and exchange board of India (SEBI), competition commission of India (CCI), cyber appellate tribunal (CAT), telecom regulatory authority of India (TRAI), proposed telecom security council of India (TSCI), etc requires domain specific experts to manage the same. Till now Indian government has been deputing its officers from its own departments to these regulatory bodies thereby undermining the required expertise.

In the past, Indian government has proposed Indian legal services examinations so that qualitative legal professionals can be produced in India. Now it has been felt that Indian regulatory services are needed in India. Institutions like Perry4Law Techno Legal Base (PTLB) are already providing training, education and research in these regulatory fields and many more techno legal fields.

Perry4Law and PTLB have been providing various techno legal trainings, education, research and coaching in India and world wide. Some of the areas covered by PTLB are continuing legal education in India, online lawyers and judges training in India, Indian legal services examinations training and education, Indian regulatory services examinations and trainings, etc.

PTLB provides Domain Specific and Highly Specialised Trainings in areas like Regulatory Services, Cyber Law, Cyber Forensics, E-Courts, Digital Evidencing, E-Discovery, etc, informs Praveen Dalal, managing partner of New Delhi based law firm Perry4Law and CEO of PTLB. We need “Domain Specific Experts” to manage different areas of Governmental Dealings, suggests Dalal.

Recently, Indian government proposed to constitute data protection authority of India (DPAI). The DPAI would require tremendous techno legal acumen as its areas of operations would be very large and challenging. The members of all regulatory bodies must have good techno legal expertise so that their functions can be performed in best possible manner.

With the proposal to introduce e-delivery of public services in India these regulatory authorities would have enhanced roles to perform. Even the department of information technology (DIT) has proposed a framework for citizens’ engagement in NEGP. Services of institutions like PTLB can be availed of under public private partnership (PPP) model for governmental projects and initiatives. Let us see how various proposals of Indian government would be actually executed.

Alternative Dispute Resolution In Indian Stock Exchanges

Securities and Exchange Board of India (SEBI) has recently suggested use of alternative dispute resolution (ADR) mechanisms like arbitration for resolving security related disputes. These disputes include claims, complaints, differences arising between a client and a member (stock broker, trading member and clearing member) across various market segments, etc.

To streamline the arbitration procedure, SEBI has issued some good arbitration guidelines for stock exchanges. This primarily aims at streamlining the disputes arising out of security related matters and matters incidental thereto.

According to these guidelines, the stock exchanges with nationwide terminals have been mandated to provide arbitration facility (arbitration as well as appellate arbitration) at all four regional centres (Delhi, Mumbai, Kolkata and Chennai). SEBI also stipulated that the arbitration and appellate arbitration were required to be conducted at the regional centre nearest to the client.

However, to meet these objectives, there must be a good arbitration infrastructure in India. Presently, both the arbitration law as well as arbitration infrastructure in India is in poor state of affairs.

Another area where India has miserably failed pertains to online dispute resolution (ODR). A special emphasis must also be given to construction industry arbitration in India as well as defence related arbitration issues. India urgently needs ADR and ODR related reforms.

Even security related disputes can be effectively solved by using the techno legal ODR services of world renowned firms like Perry4Law. India stands nowhere when it comes to technology driven arbitration. The concept of ODR does not exist in India. There is just a single techno legal ADR and ODR institution in India.

Even the national litigation policy of India (NLPI) failed to consider ODR and e-courts as effective methods of judicial reforms. Till the month of September 2010 India is still waiting for the establishment of first e-court of India.

SEBI seems to be proactive and it would be a good idea if it considers using ODR for resolving security related disputes of aggrieved parties. Expert services of Perry4Law and Perry4Law Techno Legal Base (PTLB) can be taken for establishing a good techno legal ODR model by SEBI.