Society of Indian Law Firms (SILF) president Lalit Bhasin told the Business Standard that a plan of phased entry into India of foreign law firms should begin in 2015, subject to a number of conditions.
SILF had submitted a paper to the ministry of commerce and the Bar Council of India (BCI) that it was “prepared to have a phased, sequential entry of foreign law firms”, said Bhasin.
Bhasin proposed two phases to liberalisation, with the first focusing on lifting domestic restrictions on law firms, which he said prevented firms from marketing, having their “own websites” or “entries in international law directories”.
“Even the chairman of the Bar Council of India has said he is in favour of first opening up of the legal sector in the country,” said Bhasin, adding: “This will help us to come up to the level where we can compete effectively (with foreign law firms). On this, we are all on the same page - the government, Bar Council of India and Society of Indian Law Firms.”
The second stage would involve “gradual opening up to foreign law firms”, starting with an amendment to the Advocate’s Act 1961, under which the practice of law was banned to non-Indians.
Bhasin told the Business Standard:
“The next step would be to allow foreign law firms to come here, but only to practice the law of their country. Then, they should not employ Indian lawyers, and subject themselves to our regulator.”
Bhasin added that litigation services should remain off-limits for foreign law firms, however.
Bhasin had first signalled the softening of SILF’s long-standing opposition to foreign law firms in December 2014, suggesting a five to seven year roadmap for the entry of foreign firms.
Comments
"... litigation services should remain off-limits for foreign law firms, however."
So basically you'd like them to have an office space in India, with the same work that they do anyway sitting in Singapore!!
Clients? The economy? Lawyers? Oh, hang on, there are one or two lawyers who benefit from this closed market.
Of course, it will utterly ruin the profession. Look at what all those nasty foreign accounting firms have done. Accountants are doing terribly badly and clients are desperate to throw the big 4 out of India! Perhaps not.
What amazes me is how people like this can spout such blatant nonsense and get away with it and be taken seriously for so long. It is a sad joke.
A) Foreign Firms are being allowed under the pressure from countries like US (refer Obama's visit) and UK, so SILF is helpless in front of the government;
B) they will not be allowed to hire indian lawyers because that would hurt the pockets of big wigs like AMSS (*2). So the compromise has been agreed upon the basis that foreign should be able to take the benefit of growing indian market and growing international interest in India but at the same time big indian firms should not be required to compete with Indian offices of foreign firms for best resources. Clearly this is a capitalistic approach to protect big law firms and restrict the opportunities to the fraternity as a consequence.