The Convention on Biological Diversity (CBD)1 is one of the most important treaties in the history of humanity as it deals with the infinitely complex but fragile diversity of life on earth. Regulating access to genetic resources and equitable sharing of commercial benefits of biodiversity has been the most contentious issue in the negotiations under CBD. As the impasse continues, the prime objective of CBD – conservation of biodiversity – is relegated to the backyard. The Nagoya Protocol (2010)2 adopted by the Tenth Conference of Parties (CoP), concluded on 29 October 2010 in Nagoya, Japan, provides the framework to facilitate access and benefit-sharing (ABS). However, the idea of ABS itself remains a pipe dream.