Background: Dichotic listening (DL) technique is a behavioral non-invasive tool which is used in studying hemispheric lateralization. Previous studies using behavioral DL have hypothesized that individuals with learning disabilities (LD) exhibit a lack of cortical specialization for processing speech stimulus. However, there is no event related potential (ERP) evidence, hence the main objective of the study is to explore hemispheric asymmetry using cortical auditory evoked potential (CAEPs) in normal hearing adults and also to compare the same in children with LD and healthy controls. Methods: CAEPs were recorded in 16 normal hearing young adults, eight right-handed children with LD and their age matched controls. Two stop constants (/Pa/ – voiceless, bilabial, stop: /Ta/ - voiceless, alveolar, stop) were chosen for this experiment and presented in each ear and dichotically in two different orders (/pa-ta/, /ta-pa/). ERPs were processed using a standard pipeline, and electrodes readings over the left and right hemispheres were averaged to create left and right regions of interest (ROI). The CAEPs were analyzed for mean amplitude and peak latency of P1-N1-P2 components. Results: The current study results suggest no statistically significant difference between the two stimulus in monaural condition and absence of order effect in dichotic condition. In healthy controls the CAEP latencies were shorter over the left hemisphere in both monaural and dichotic conditions in adults and control children. However, it was very evident that such a difference was lacking in children with LD. Conclusions: Hemispheric asymmetry can be detected using CAEPs for speech stimulus. The measures are consistent and void of stimulus or order effect. Taken together, the findings of current study, both monaural and dichotic condition illustrates the hemispheric differences in processing speech stimuli in normal hearers. Absence of latency differences between hemispheres in children with LD indicate a lack of hemispheric asymmetry.