Am heading the legal, arbitration and compliance functions of National Commodity & Derivatives Exchange Limited (NCDEX), a leading online commodity Exchange in India regulated by SEBI under the Ministry of Finance.
I started off as a practicing advocate and after about six years of practice, worked as in-house counsel of a nationalized Bank for about six years. In 2004, joined NCDEX as one of the founding team members. As a practicing advocate, was handling government matters besides insurance and Bank cases. As in-house counsel of the Bank, was in-charge of all legal matters concerning two zones, Greater Bombay and rest of Maharashtra. At NCDEX, have been handling all legal matters including policy, structuring processes and related documentation, statutory compliances of all nature, litigation and arbitration. Currently, also in charge as head of compliance and looking after SEBI required compliances as well can proudly say that as far as litigation is concerned, which though less in number, but quite complex and complicated, have had a success rate of almost 100 per cent. Feel proud that I have been part of the company in its initial stages of establishing itself which involved liasoning with the government for policy and legislative changes required. Thereafter, have been part of its growth period and also difficult times. This gives a wonderful perspective of the business and the related probabilities.
Yes very much. The role of a General Counsel today, is not only restricted to analysis of legal implications and advising the corporate but also warrants playing a large role in aiding business. The legislations in place today involve fine interpretation to meet commercial needs and a balance has to be struck between what we want and what is possible within the framework. Also the General Counsel is also required to take it further by suggesting and facilitating engaging with the authorities or the government and the Regulatory bodies for effective functioning and compliance requirements. The authorities also many time understand the need of the hour and help us in achieving optimum possibilities.
Of course, the growing business needs which sometimes are not facilitated by the legislations and framework in place particularly niche business. At such times, the General Counsel has to at time, take the lead and suggest new structures to be put in place and also defend legal recognition therefor.
There has to be a healthy interaction between in- house counsels and the law firms. The efforts are required from both sides. While the in-house Counsel has to take into account the legal implications pointed out by the lawyers which might make things difficult, there is a duty on the lawyers to understand the commercial needs of the Corporate and to take proactive steps to suggest alternatives within the legal framework. This is not to imply that the lawyers have to find loop holes, but that they can suggest alternatives and facilitate negotiations and business deals even in litigation matters. I am seeing lot of development in this area in Mumbai and would be glad to find such change happening in the rest of the country.
Increased participation in workshops involving important matters such as new legislations, policy structures of the government would help. Also, keeping oneself updated with the latest in the legal fraternity and the legislation space even if it does not involve one’s own field of current employment would add value in case of sudden and unanticipated business developments.
My personal advice is to stay the time required to learn the maximum and then look for any change in employment if desired and not to jump at offers without a long term goal. This helps in gaining domain knowledge. Any knowledge gained would help in later years if gained well.
Favourite Gadget – i pad
Favourite App – WhatsApp
Favourite Automobile Brand – Beetle
Favourite Writing Instrument – Penci
Favourite Holiday Destination – Himalayas
Favourite Cuisine – South Indian vegetarian
www.grandmasters.in | 8 Years & Counting
www.rcls.in | 8 Years & Counting
www.itlegalsummit.com | 8 Years & Counting
www.bfls.in | 8 Years & Counting
www.maels.in | 8 Years & Counting
www.plcs.co.in | 8 Years & Counting
Copyright © 2020 Lex Witness - India's 1st Magazine on Legal & Corporate Affairs Rights of Admission Reserved
