Empanelment Of Advocates To Represent NFRA Before Courts And Tribunals
The National Financial Reporting Authority (NFRA) is inviting applications from Advocates for empanelment to represent the interest of NFRA before Courts/Tribunals, Judicial, and Quasi-judicial authorities. The services of Advocates shall be utilised inter alia for Litigation besides drafting/vetting of Contracts/Agreements and Legal Opinions.
Payment of Fee: The fee payable to the Advocate shall be governed by the fee structure as determined by the Competent Authority and it may be amended from time to time with its approval.
Educational Qualification: LL.B.
Tenure/Term of Empanelment:
a) The initial empanelment will be for three years or until further orders whichever is earlier. The performance of empanelled/engaged Advocates shall be reviewed periodically and at least yearly, and if the performance is found not up to the mark, empanelment can be terminated any time before completion of the empanelment duration. In case circumstances so warrant, the Competent Authority may review performance at any time during the year as well. On completion of the term and satisfactory performance of the Advocate, empanelment/engagement may be renewed for a period of another three years by the Competent Authority. The Competent Authority reserves the right to terminate the empanelment/ engagement of any advocate at any time, without assigning any reason.
b) The empanelled Advocate may terminate the empanelment by giving one month’s written notice to NFRA and comply with relevant conditions.
Eligibility:
a) An Advocate to be eligible for empanelment in the senior panel shall have active practice in the respective Court for at least fifteen years at the bar and a proven track record of arguing cases in the Courts/Tribunals independently. An advocate to be eligible for empanelment in the General panel shall have active practice in the respective Court for at least seven years at the bar.
b) Advocates should be familiar with various branches of law especially corporate law, constitutional/service law, commercial law, etc. For empanelment and engagement of professional services, requisite knowledge of the Companies Act (as updated from time to time), Chartered Accountants Act (as updated from time to time), corporate governance framework in India, NFRA Rules and Regulations would be essential. Familiarity with financial accounting and auditing standards would be desirable.
c) In addition to the above, Advocates are required to have the minimum professional/Court practice experience as under:
i. For empanelment for the Supreme Court: At least 10 years of experience in the Supreme Court.
ii. For empanelment in the High Courts: At least 07 years of experience in the High Court.
iii. For empanelment in NCLAT: At least 07 years of experience in High Court(s)/NCLAT.
iv. For empanelment in Subordinate courts/Tribunals other than NCLAT: At least experience 07 years of in such similar Courts/Tribunals/Commissions/Boards/Authorities.
d) Provided that the Competent Authority may relax the above conditions at its discretion if otherwise found suitable in certain cases.
For considering empanelment for the Supreme Court, generally those Advocates who are regularly practising including Advocates-on Record of the Supreme Court would be considered if they are otherwise found to be competent and suitable.
How to Apply: Candidates may apply by sending their applications in prescribed format as provided in Appendix-I of the notification.
