Lok Adalat: A Strategic Forum for Speedy and Equitable Justice

-- Vijaykumar Shrikrushna Chowbe and Priya S Dhanokar

Lok Adalat symbolizes a human sensitive forum to provide amicable, speedy and cheap justice by adopting informal procedure and avoiding technicalities. This paper attempts to study the history and development of Lok Adalat in India. An analysis has been made on the potential utility of Lok Adalat as one of the Alternative Dispute Resolution (ADR) tools. The validity of the award of Lok Adalat and grounds that keep it open to challenge for its judicial review have been explored. At the end, SWoT (Strengths, Weaknesses, Opportunities, and Threats) analysis of Lok Adalat has been made and its probable solution in the form of permanent Lok Adalat has been discussed. The paper thus provides a deep insight into Lok Adalat and its potential utility to the existing legal system which has been overburdened with pending litigations. The paper finally concludes by demanding the adaptation of the concept of Lok Adalat to suit the changing needs of the poor and needy, and suitable recommendations have been made to that effect.

© 2011 IUP. All Rights Reserved.

Regulation of Financial Derivatives: Some Policy Considerations

-- John Varghese

Financial Derivatives which form the major driving force in the international monetary sphere are being used by banks and financial institutions to mitigate risks arising from the volatility of the underlying asset. They form the backbone of the International Economy. Derivatives regulation in the United States and India is essentially a hybrid of ‘institutional’ and ‘functional’ regulation. Though regulatory institutions have come up with disclosure norms to ensure greater transparency and accountability in the trading of derivatives, derivative regulation is more focused on self regulation. This paper tries to examine the various models of regulation of financial derivatives from a purposive perspective.

© 2011 IUP. All Rights Reserved.

Legal Control of Bio-Medical Waste Management: The Goan Experience

-- S Saba V M Da Silva

Healthcare is undoubtedly an inevitable facet of human existence. The very functioning of healthcare establishments generate waste which in turn needs to be effectively managed. This paper throws light on the legal control of the management of such waste in India with special reference to the State of Goa. It discusses about the various international agreements and enactments relating to the Environmental Acts in India, and various provisions relating to the punishments for polluters. The paper further discusses about the laws which became ineffective to manage the volume of bio-medical waste, and the need to frame new laws by the regulatory body in order to implement them effectively. The paper concludes with a message that it takes only a little effort of every educated Indian to help one’s own country, society, environment and finally and most importantly, oneself.

© 2011 IUP All Rights Reserved.

Bio-Meta Experimentation in Food: Risks and Liability Concerns in the Indian Context

-- Uday Opal, Shreya Suresh and Suresh Srinivasan

In February last year, India, faced with a huge outcry from scientists, greens and farmers, put a moratorium on the release of Bt-Brinjal that had been approved for commercialization after several public consultations. Recently, the Nagoya-Kuala Lumpur Supplementary Protocol was negotiated which requires states to evolve a domestic framework that can respond to transboundary damage by Genetically Modified (GM) food . This article briefly explains the multifarious risks that could be involved in using GM foods as an alternative to the ordinary varieties known to man since the dawn of our species. It goes on to discuss the peculiarities of regulating a largely unknown field of GM foods and the major hurdles, which are present in the actual attribution of liability along with the ongoing debates. In conclusion, this article scrutinizes the controversial Biotechnology Regulatory Authority Bill and argues for a comprehensive ‘genetic technology specific’ liability and compensation regime in place in India that should serve as an example to the world striving to come to terms with the consequences of modern biotechnology.

© 2011 IUP. All Rights Reserved.

Technological Innovation and IPR Regime Vs. Human Rights

-- Shivanand H Lengati

Intellectual property regime seeks to balance the moral and economic rights of creators and inventors with the wider interests and needs of the society. A major justification for patents and copyrights is that incentives and rewards to inventors benefit the society and “promote the progress of science and useful Arts, by securing limited period to authors and inventors the exclusive Right to their respectful writings and discoveries”. The World Intellectual Property Organization (WIPO) links the existence of an equitable and modernized patent system to incentives for inventiveness and innovative activity, a willingness to invest in industrial applications, and a favorable climate to the transfer of technology.

© 2011 IUP. All Rights Reserved.