Government plans to usher in second generation legal reforms that would eliminate litigation delays sharply in India. It would also like to put in place a legal regulatory<br/>regime and an oversight mechanism for the smooth functioning of the judiciary without infringing on the independence of the institution.<br/><br/>Talking to reporters in London, Law Minister Veerappa Moily said, in the first stage, with a view to fast tracking the delivery of justice and creating centres of excellence, National Law Schools were established.<br/><br/>In the second stage, government would like to introduce the second generation legal reforms. He said, at present litigation in India involves delay of over 15 years and the Government would like to reduce this delay to less than 3 years.<br/><br/>Mr Moily said, the government would also take measures to improve the quality of the judiciary by reforming the legal education system and making the country the most preferred destination for investors by setting up international arbitration courts with a mandate to dispose off any litigation within a year. He said the Commercial Court Bill would soon become a law, paving the way for speedy disposal of cases through arbitration. Lok Sabha has passed the Bill and it will go before the Rajya Sabha now.<br/><br/>The Minister said the amendment of the Arbitration and Conciliation Act would remove the distractions and make the legislation more vibrant. On the question of opening up the Legal system to foreign legal firms, he said, the issue is being discussed with the Bar council of India.