Date: 11th September 2025
Venue: Manju Bharat Ram Hall, Lady Shri Ram College for Women
Overview of the Event
The Department of Economics, Lady Shri Ram College for Women, organized the Dr. Saroj Gupta Memorial Scholarship Event on 11th September 2025. The event was conducted to honor the memory of Dr. Saroj Gupta and to recognize academic excellence among students of the department. The program witnessed the presence of distinguished faculty members, the principal of the college, invited guests, and enthusiastic participation from students across the first, second, and third years.
Proceedings of the Event
The session formally began with a welcome note by the President of the Department, Ms. Siddhi Kaul, who extended greetings to the guests. Following this, the General Secretary of the Department, Ms. Arpita Grover, elaborated on the purpose and significance of the event. The keynote session was delivered by Dr. Niti Bhutani, who spoke on the theme of Law and Economics. She began by addressing the faculty members and paid tribute to Dr. Saroj Gupta. Her insightful lecture engaged the audience and enriched the academic discourse of the event.
The lecture on Law and Economics and Contractual Disputes highlights how economic analysis helps in understanding legal rules and their incentive effects. It explains efficiency concepts like Pareto and Kaldor-Hicks efficiency, along with the Coase theorem, to show how bargaining can lead to optimal outcomes. In contract law, promises are enforceable only when part of a bargain involving offer, acceptance, and consideration, as illustrated in cases like Hamer v. Sidway. Enforcement of contracts ensures cooperation, with remedies such as money damages, specific performance, and the efficient breach model. In India, expectation damages are the main remedy but are restricted to foreseeable losses under the Hadley v. Baxendale rule. The 2018 amendment to the Specific Relief Act made specific performance the default remedy, strengthening enforcement even when liquidated damages exist. However, judicial delays and frequent interference create uncertainty in outcomes. Overall, integrating law with economics can improve efficiency, predictability, and fairness in dispute resolution.
The Principal of Lady Shri Ram College, Dr. Kanika Ahuja joined the session and extended her words of appreciation for the speaker, guests, and the organizing team. Her words paid tribute to Dr. Saroj Gupta.
The much-awaited moment of the event was the distribution of the Dr. Saroj Gupta Memorial Scholarship. Certificates and prizes were awarded to meritorious students Arshpreet Kaur from first year, Khyati Saraogi and Shreya Anil from second year, and Vrinda Aggarwal from third year in recognition of their academic achievements by the principal and invited guests, Dr. Manisha Singh and Mr. Gupta.
Dr. Manisha delivered an inspiring address, following which mementos were presented as a token of gratitude. Ms. Anjana felicitated Dr. Niti Bhutani, and similar honors were extended to Dr. Manisha
and Dr. Gupta.
The President of the Department expressed gratitude towards all the guests, faculty members, and students for their presence and contribution. The event concluded with a faculty lunch, marking the successful completion of the program.