Top Indian Lawyers Navigate The Ever Changing Legal Landscape At Legal Leaders Conclave & Awards

BW Online Bureau Jan 04, 2024

The much awaited Annual Legal Leaders Conclave & Awards to recognise the talent in the legal industry was marked by in-depth panel discussions and engagement between legal professionals from different sectors.

The 30 under 30 as well as the 40 under 40 Awards were presented to the top lawyers of the country who have had excellent track record in their career.

After careful evaluation of over hundreds of nominations, the jury selected and recognised the top legal professionals for their exceptional contributions.

“This is an event to honour and recognise the merit of 30 under 30 and 40 under 40 lawyers. Those who are 40 under 40 have put 10 or 15 years of practice. Therefore, to teach them about law will be an exercise in futility. There are a lot of issues which are being faced by the legal profession. Firstly, the use of technology. I believe in real intelligence and not in artificial intelligence. The Courts are digitised to help the litigants. But the disposal has to increase to actually benefit the litigants. How will technology help in getting justice? We have law but do we have justice? It is a point which all of us should ponder upon.,” shares Dr. Lalit Bhasin, President at Society of Indian Law Firms and Managing Partner, Bhasin & Co.

The one-day conclave witnessed legal experts taking part in several panel discussions on varied topics.

Intellectual Property Rights in the Era of AI

Kunal Tandon, Legal Counsel at Delhi High Court & Supreme Court said, "When given a prompt to the AI, the material which will be used is unclear. It can be copyrighted material from somebody or a non-copyrighted work. If I give claim ownership to that particular document created through AI, the responsibility will lie on me."

Building on that conundrum Mamta Jha, Senior Partner, Advocare said "AI is machine intelligence and copyright conventionally was provided for human intelligence. We are in an era where AI is capable of communicating with the environment. Questions about originality come into question."

Sustainable Shift In Businesses In the Wake of ESG

Speaking about how ready the companies are to imbibe ESG as a business initiative and an amplifier, Dr Mukul Shastry, General Counsel, Cube Highways agreed that ESG is the buzzword right now for corporates, "We have to be mindful of the data we are getting, along with social and environmental responsibilities. Interest in the Principle of responsible investment (PRI) has spiked, therefore every investment in these companies has to ensure the investment is done in the right manner."

Experts Review Potential Issues with Criminal Law Reform

Bharat Chugh, Founder, The Chambers of Bharat Chugh said, “Amendment brought into criminal jurisprudence has some issues. One of them is that at the time of taking cognizance of a crime, a judge has to first hear the prospective accused of the case. Jurisprudence related to Police custody, judicial custody and preliminary enquiry also has its own good and bad sides. But the period of police custody will increase after the recent amendments.”

IBC Struggles With Procedural Gaps And Lingering Delays

Uday Khare, Partner, Cyril Amarchand Mangaldas on the contrary said that if we compare IBC with SICA or Debt Recovery Tribunals (DRT), then IBC will be miles ahead in the resolution of cases.

Mukesh Butani, Managing Partner, BMR Legal added that there has been inherent conflict in the cases that have been coming to the Supreme Court(SC). He also pointed out that adequate appointments need to be made in the National Company Law Tribunal (NCLT) for the timely disposal of cases.

Exploring The Legal Risks And Ethical Dimensions Of Generative AI In Corporate Operations

Kanika Sachdeva, Regional Legal Counsel, Stryker takes the conversation forward representing the take of the med-tech industry in this subject. She said, “Using technology is unavoidable in a competitive and progressive world. There are many issues related to diligence while using AI. But [sic], such diligence comes into the picture while we deploy AI at a large scale.”

Experts Decipher The Personal Data Protection Trajectory

Addressing the notable absence of specific references to cybersecurity in the Digital Personal Data Protection Act, Dr. Pavan Duggal, renowned cyber law expert, shed light on the need for technical measures for data protection. "While not a standalone law, it complements existing legislation, with detailed rules expected in January," he explained. However, the extent to which these rules can surpass primary legislation remains a grey area, he cautioned.

Mediation A Rising Star In Dispute Resolution

Preet Sethi, Deputy General Counsel, Corporate at Vedanta, emphasised the need for a robust ecosystem to elevate India as a hub for alternative dispute resolution. "Mandatory mediation, as outlined in Section 12A, is a significant step towards making the ADR system more widely accepted," Sethi remarked.

General Counsel’s Transformation: From Legal Advisors To Business Enablers

Pranav Mehra, Director, Legal at Freshworks, added a unique perspective, noting the diverse challenges faced by General Counsel based on their backgrounds and the nature of the business. "Understanding business law is essential, whether transitioning from a law firm or starting a startup," emphasised Mehra. He highlighted the need for General Counsel to delve into technical areas such as cloud-based technologies and cryptocurrencies. Additionally, the management of international legal teams and a deep understanding of legal landscapes in multiple geographies emerged as critical for earning the trust of the business, he added.

ESG Compliances Are Complex But Crucial In Mergers & Acquisitions: Experts

ESG has transitioned from a trend to a necessity in the realm of mergers and acquisitions (M&A). Emphasising its importance Seema Jhingan, Partner & Co- Founder, LexCounsel Law Office said this shift is driven by the recognition that ESG compliance significantly influences a company's attractiveness to investors and its valuation. She further added, “ESG compliance ensures better readiness to handle regulatory, employment and environmental issues, making it a crucial factor in the evaluation of companies in the M&A space.”

A Shift From Courts To Arbitration: Evolution, Challenges And Way Forward

“In a booming economy of India, where country has been making a significant stride in the infrastructure development. Which includes land pooling, partnering among the different players and huge investments. Any legal complication in between stockholders can hamper the development of infrastructure thus becoming a road block for economic growth,” said Tarun Nangia, Consultant Special Projects, NewsX, in an opening note at BW Legal World 30 Under 30 & 40 Under 40 Awards and Conclave.

The event concluded with awards being presented to 30 lawyers with excellent track record and achievements under the age of 30 and 40 lawyers from the age group of below 40. The jury process involved thorough questioning and scrutiny of the credentials and achievements of the nominees.