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It means they are preparing for the Solicitor exam wherein you have to undertake a three year internship like program called articled clerkship under a solicitor. You'll have to work under the solicitor for three years like a CA article and then write the exam. The exam is generally intensive and the clearance rate is pretty low..Have heard that you need contacts to get signed up as an article and even clear the exam because people fail in a subject or two by a thin margin.
Wow I have not heard of this exam ever before. Do very less people give it?
It's basically a Bombay thing. No one outside Bombay really cares about it.
You get to join a old boys club of solicitors. It's nothing more than a club membership. Many kids in Bombay do it (like GLC) because they're gonna anyway intern for 3 years, and this way they get absorbed as associates faster. You become a part of the team way sooner, imp matters etc.