Dear Madam,
With reference to your article Verdict due on foreign law firms (IBLJ, volume 2, issue 6), I think we are trying to keep out those who are already “in” the country.
Your article rightly identifies the many ways in which foreign law firms already practise Indian law. Traditionally practising law in India has invoked images of litigation lawyers and representation in a court of law.
Transaction law, or corporate law as we know it today, is a relatively recent development in India. But the laws governing the profession do not seem to make any difference between the different types of practices.
[ihc-hide-content ihc_mb_type=”show” ihc_mb_who=”3″ ihc_mb_template=”2″ ]
There seems to be no regulation of the “unlawful practice of law” by non-lawyers outside a court of law. Whereby there is neither any regulation of chartered accountants drawing up legal documents nor on their offering “legal” advice on issues outside their expertise, which is a rampant practice.
While the law makers and the courts try to figure it out, the press has reported that Indian firms are forging relationships as evidenced by the formal agreements that two new age law firms signed, independently, with leading British firms that have active India practices.
One agreement involves client referrals, training, consultation and joint marketing, while the other allows “both firms to move towards a closer association when the regulations permit”.
In my opinion several factors including India’s obligations under the WTO, the lack of new deals within countries besieged by recession and the recent amendments to the Company’s Act, 1956, which permit larger professional associations with limited liability, will influence India’s decision to allow foreign law firms into the country.
It is time for us to amend laws as required, while establishing equitable checks and balances, to allow foreign law firms to formally set up shop in India. Informally, they are already here!
Poorvi Chothani
Founder and Managing Member
LawQuest
Mumbai
[/ihc-hide-content]
