Quasi-judicial function at regulators

This paper analyses fundamental questions regarding the quasi-judicial function at SRAs: namely, what exactly is it, why SRAs were given these powers, how it evolved across the regulatory landscape, and how it is actually being performed. The paper finds that there is no consensus on what the term †quasi-judicial†means, and the reasons for placing this function in SRAs are also not clearly articulated. As a result, there is wide variation in how this function is structured, and practices vary across Indian regulators. This has created problems in how the function is exercised, with implications for the larger economy. We examine FSLRC recommendations and international experience and suggest three reforms - outlining the contours of the quasijudicial function, separating it from the legislative and executive functions, and finally implementing reforms such as standardised templates and databases within existing departments.