Law firms may lose company referral business if the predictions of general counsel (GC) surveyed by IDEX Legal and Thomson Reuters, come true. Law firm fee currently eats up more than one-third of the in house legal budget of the GCs companies.

The Economic Times ’ research arm, the ET Intelligence Group, surveying more than 1,800 listed companies, has revealed that their legal spend was Rs 21,906 crore ($3.5bn) in the 2013-14 financial year, an increase of more than 17.5 per cent on last year. Out of the five biggest spenders on legal fee...

The top 100 Indian companies are set to spend an estimated $479m (Rs 2,200 crores) in legal fees of which half will be billed by foreign firms, predicts an analyst report on the Indian legal market.