Lax Witness, India’s first magazine on Legal and Corporate Affairs, recently organised The Real Estate and Construction Summit (RCLS) 2012 which was an ideal platform for the stakeholders in industries such as real estate, infrastructure and construction. The stakeholders were allowed to share their views and opinions and also to analyse new insights on how to manage the vitalities in the legal areas of their business.
The speakers included eminent personalities from various spheres of the industry including in-house corporate counsels from the real estate infrastructure industry, law firm partners as well as government officials who were very much open to in-depth discussions.
Even though the minister of Law and Justice Salman Khurshid could not attend the occasion, he conveyed a message saying that with the countrywide emergence of infrastructure development in all sectors, it has become critically important to have a robust legal framework in place in order to minimise the impact of the risk involved.
According to Lalit Bhasin, president of Society of Indian Law Firms, there is presently an urgent need to resolve all the disputes in a fair, speedy and cost-effective manner in the construction sector. Even though courts in India have been in the process of pronouncing path breaking judgements in order to safeguard the rights of land owners and also trying to ensure social and economic justice, the government further need to ensure a level playing field in terms of regulations and use of government power.
Shyam Grover, group editor & CEO of Lex Witness, said while commenting on the communication aspect that in an environment where it is no more only business as usual, with media actively hunting for stories and viral news and spreading through social media websites, cases concerning legal complications or sticky land acquisition can get unprecedented publicity.
The event concluded with a sense of optimism and hope for future growth in the infrastructure industry.