New Delhi, 26 February, 2018: Jindal Global Law School (JGLS) of O.P. Jindal Global University (OPJU) launched an exclusive, Master of Business Laws (MBLs) Programme during the seminar held on ‘How to Fill the Legal and Regulatory Knowledge Gap In Business and Industry’ at Jindal Global Educational & Professional Academy in New Delhi. The programme is aimed to train business professionals, even with no background in law, and enhance their knowledge in legal, tax, accounting, banking insurance and corporate finance domains. This is the first of its kind classroom MBLs programme introduced by an Indian university.
Professor (Dr.) C. Raj Kumar, Founding Vice Chancellor, O.P. Jindal Global University (JGU) said “OPJU is committed to play a larger role in the development of society. We shoulder a leadership role of preparing future professionals for the radically changing socio-economic environment, which influences global businesses. The purpose of introducing the MBLs Programme is to empower, enable and educate the business side of corporations, to provide opportunities for business officials, leaders and working professionals who have not had formal training in law, to be able to study law, particularly the laws that are affecting the business in all its forms and manifestations. The programme is interdisciplinary in nature and draws upon the academic and professional experiences of experts from both within the faculty and outside. “
Elucidating the nuances of the course and comprehensive curriculum of the MBLs Programme, Prof. Dr. Michael J. Barnes, Director, MBLs Programme said “In the corporate world, there is no quicker way to destroy the value of a firm or a brand than transgressing the law. By launching MBLs, JGLS has opened a new window of opportunity for adult learners and practitioner scholars in India. Business professionals who do not possess an LLB; experienced general managers and business entrepreneurs and practitioner scholars who want to embark on a rigorous and memorable journey of self-improvement are the categories that will be the core focus of programme outreach. The interactions between world-class faculty and our students inside our classrooms are the greatest medium of thought exchange and knowledge creation at our university. This programme requires and expects focus, determination and hard work from the student’s end. In return, during the course of learning, they will enjoy an unparalleled learning experience with an elite cohort of like-minded men and women. “
Gracing the occasion as Chief Guest, Mr. Dhanendra Kumar, Principal Advisor, Indian Institute of Corporate Affairs (formerly the first Chairperson of the Competition Commission of India) said “I take great pleasure in launching the MBLs programme. With its academic brilliance and world-class faculty, JGLS will undoubtedly bring out the best in students by imparting the best of education in business laws and I really look forward to meeting some of the students in due course of time. Your students are bound to play a stellar role in meeting the needs of changing dynamics of India’s businesses.”
One of the eminent panellists, Mr. Bharat Vasani, Former Chief Legal and Group General Counsel, Tata Group, stated the importance of laws in business. He said, “It has been very rightly pointed out that today, laws are not just made by the parliament, but they are also made by regulators. The interface between the government and business has become very complex and intense in today’s age. This has made it essential for business professionals to understand the law and its implication on various aspects of business. “
Underlining the significance of communication in law, panelist Tejas Patil, General Counsel, GE South Asia, said, “There is a dearth of professionals with good communication skills in large companies and India in general. The legal drafting and communication module of the MBLs Programme curriculum immediately caught my attention in this context. While practicing law, communication becomes a critical parameter of highlighting a flaw or conveying the facts of the matter. It is essential to highlight that every working professional should have a basic understanding of the law, not necessarily to solve a legal problem, but to identify and flag the issue or to get the right people in the room to look at it. “
Dr. Vinod Kumar Verma, Vice President Corporate Affairs & Development Cell, Aditya Birla Group, underlined that the current business demands the ease of doing business in compliance with law. He also highlighted that the knowledge of law transcends beyond legal matters and is relevant for all aspects in which a business functions.
Mr. Manoj Piplani, Managing Director and CEO, Bank of Baroda Financial Solutions Limited, said, “An organisation’s capability to comply with law and regulations can be strengthened in three predominant ways. Firstly, by imparting education and addressing the knowledge gap at the sub-functional level of an organisation. Secondly, building organisational systems and structures which comply with the legal and regulatory requirements of the law. Lastly, defining the work culture of an organisation is of critical importance. While we may think that culture is defined inside the organization, it is actually a function of the broader society and economy in which most of the organizations exist and operate.”
The confluence of like-minded law and policy practitioners from diverse backgrounds at the seminar stressed on the urgent need to strike a balance between the legal and business approach of businesses. At times, organisations confront situations when its legal and business functions speak at cross-purposes. However, the panel unanimously agreed that every strong business or commercial structure should be strengthened by a strong legal foundation to ensure that a business runs smoothly.
The discussion also drew references to India’s ranking in the ‘Ease of Doing Business Index’ announced by The World Bank. According to the 2018 report of the index, India has moved up by 31 points and stands at 100th position on the global index. The panellists agreed that there is a long way to go when it comes to improving its business regulations in absolute terms. Ms. Shuchi Sinha, Associate Professor JGLS & Associate Director MBLs Programme, who joined the university with a long experience of corporate law practice, moderated the discussion.
Mr. Avirup Bose, Assistant Professor, JGLS & Assistant Director, Masters of Business Laws Programme also participated in the panel discussion.
I assume it has been checked that this is factually correct
