MUMBAI: Whenever a legal idea is transported from another jurisdiction, it winds up going through a transformation in its identity depending on regional context, Chief Justice of India D Y Chandrachud has actually stated.

After India adopted the fundamental structure teaching, it moved to our neighboring countries such as Nepal, Bangladesh and Pakistan, CJI Chandrachud said on Saturday, speaking on Traditions and shifts: Palkhivalas legacy in an interconnected world.

The CJI stated, as was perfectly summarized in the Minerva Mills judgment by the SC, Constitution is a precious heritage and therefore you can not destroy its identity.

What has been effectively adopted in India is its own distinct formula of its fundamental structure theory, he added.The CJI stated the fundamental structure doctrine has now emerged in South Korea, Japan, some Latin American nations and African nations.

The migration, combination and reformulations of the standard structure doctrine in other constitutional democracies across continents is a rare success story of the diffusion of legal concepts in an interconnected world.

The CJI Chandrachud likewise stated Law is always grounded in social realities ...

law must embody and reveal our local worths.

Julio Ribeiro, 94, former leading police officer of Mumbai was awarded the Nani A Palkhivala Civil Liberties Award at the occasion.

He devoted the award money to an NGO, Aman Biradari Trust, run by Harsh Mandar.

Providing the 18th Nani Palkhivala Memorial Lecture arranged by the Bombay Bar Association at the National Centre for the Performing Arts (NCPA) in Mumbai, the CJI stated that Palkhivlas lectures were crowd pullers and he was a attorney, philosopher, business thinker and leader, who as an attorney championed legal teachings such as the standard structure of the constitution which anchored the Indian Constitution in stability and consistency .

The CJI said Palkhivala as a financial expert thinker spoke against the present dogmas of the day and as a business leader Nani visualized the transformative power of the vibrant software application industry.

The purpose behind todays talk is to demonstrate both continuity and advancement in the life of law and economics, said CJI Chandrachud in his speech with his hallmark erudition.

Understanding law is about understanding the past, the context in which an event unfolds, between historic continuities and changes which are bound to happen in the future there lies a happy medium of transition.

A globalised, interconnected world where ideas circulation from one part of the world to another has actually ended up being the norm of the day .

He pointed out how in 1991 such a shift was demanded by a major crisis of forex that the nation needed to grapple with and in a manner the brand-new economic policy was a conclusion of what Nani had been advocating for the past couple of years and in the 1992 post-budget speech.

He applauded the federal governments relocation saying if India has to grow and prosper it has no option but to be integrated into the world economy.

The CJI said in current years Indias legal landscape has also undergone a considerable modification in favour of getting rid of strangulating policies, enhancing consumer well-being and supporting business deal.

He said, legislation such as competitors law and insolvency and personal bankruptcy code have been enacted to promote reasonable market competitors and entrepreneurship.

The items and services tax has actually sought to streamline the indirect tax on supply of goods and services in India.

If you take a look at our Constitution, it does not favour unbounded financial liberalism, rather it looks for to strike the ideal balance as the preamble recommends and it favours development, business and social justice and played a greater role in bringing about social welfare.

He ended by saying Palkhivala informed us that we are entitled to a rights based democracy.

The event saw the release by the CJI of a book Nani A Palkhivala: early writings (1937-1947) modified by Rashmi Palkhivala and an efficiency by 8 years of age pianist Ayan Deshpande and others from the SOI Academy Orchestra carried out by music director Marat Bisengaliev.