Limits of Professional Privlege

Our Founder and MD, Mr. Shriram Subramanian, recently wrote an article on Financial Express on the legal and governance implications of invoking attorney-client privilege in regulatory probes.

Citing the ED’s investigation into employee stock ownership plans (ESOP) grants by Care Health Insurance against IRDAI’s direction to Rashmi Saluja, he questions the legitimacy of the backlash from the legal fraternity. While lawyers are entitled to the privilege, it is not absolute. The Bhartiya Sakshya Adhiniyam, 2023, and Section 50 of PMLA empower scrutiny where legal advice may facilitate wrongdoing. Especially when lawyers hold dual roles, such as legal counsel and independent director, privilege cannot shield operational facts.

He notes that ED’s swift retreat following elite protests risks undermining investigative integrity, suggesting some professions are above the law. The article advocates lawful, transparent cooperation to preserve both institutional trust and professional standards.

Read the full article here: https://www.financialexpress.com/opinion/limits-of-professional-privilege/3903555/