By
Kian Ganz
Friday, 04 June 2010 23:21NewslettersAn estimated 8 minute read...
Legally India newsletterThere was a brief but heavy 4am pre-Monsoon shower in Mumbai on Tuesday morning but the real storm was faced by the Bar Council of India (BCI) this week.
The upset of finalists is understandable in light of several question marks. For example, those joining the bar will not be able to appear in court until 2011, the entire process has been a little opaque so far and there has been nearly no open debate or engagement with the ones who will ultimately have to sit the exam.
Nevertheless, the exam appears to be a done deal, barring any writs filed by graduating lawyers-to-be (presumably assisted in court by those who are allowed to appear).
However, on the flip side the BCI should also be applauded for seizing the bull by the horns, rather than the allowing the bar exam to get mired in red tape and causing potential procrastination on the exercise for years - everyone knows how slowly things can move in India, and sometimes they even do not move at all. Maybe the only realistic way to get a bar exam done when thousands of students and sub-standard law schools might dissent, is to make it a fait accompli?
In the initial public offering (IPO) advisory stakes, however, things have moved fast compared with several years ago. While Amarchand was still by far the dominant force in taking companies to market in the 2009-10 financial year, according to Legally India research, a very strong second level is shaping up with firms such as Luthra & Luthra, Khaitan & Co, AZB and S&R Associates, which are also increasingly getting lucrative mandates from banks. Plus there are some niche and smaller players that are taking part of the pie too.
Vaish Associates too has held its promotions. Traditionally a firm where apart from the three senior partners there were only "heads" and "associates", Vaish has taken the plunge and promoted nine to partner in one swoop.
Things are maybe easier when you have outside investors, as LPO Pangea3 plans to pump more than $10m into its Delhi office, which it hopes might outgrow Mumbai one day.
A new blog on the scene this week was False News With Balls. Check out the publication's take on this week's top legal headlines and news. Just make sure you don't believe everything you read...
Pps: Apologies, but the blogs' hit counters were slightly broken this week, registering less hits than they should have due to a technical error. Add between 50 and 100 per cent and you will more or less get at the real numbers although it is mostly academic since hits should not matter anyway.
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There was a brief but heavy 4am pre-Monsoon shower in Mumbai on Tuesday morning but the real storm was faced by the Bar Council of India (BCI) this week.
The upset of finalists is understandable in light of several question marks. For example, those joining the bar will not be able to appear in court until 2011, the entire process has been a little opaque so far and there has been nearly no open debate or engagement with the ones who will ultimately have to sit the exam.
Nevertheless, the exam appears to be a done deal, barring any writs filed by graduating lawyers-to-be (presumably assisted in court by those who are allowed to appear).
However, on the flip side the BCI should also be applauded for seizing the bull by the horns, rather than the allowing the bar exam to get mired in red tape and causing potential procrastination on the exercise for years - everyone knows how slowly things can move in India, and sometimes they even do not move at all. Maybe the only realistic way to get a bar exam done when thousands of students and sub-standard law schools might dissent, is to make it a fait accompli?
In the initial public offering (IPO) advisory stakes, however, things have moved fast compared with several years ago. While Amarchand was still by far the dominant force in taking companies to market in the 2009-10 financial year, according to Legally India research, a very strong second level is shaping up with firms such as Luthra & Luthra, Khaitan & Co, AZB and S&R Associates, which are also increasingly getting lucrative mandates from banks. Plus there are some niche and smaller players that are taking part of the pie too.
Vaish Associates too has held its promotions. Traditionally a firm where apart from the three senior partners there were only "heads" and "associates", Vaish has taken the plunge and promoted nine to partner in one swoop.
Things are maybe easier when you have outside investors, as LPO Pangea3 plans to pump more than $10m into its Delhi office, which it hopes might outgrow Mumbai one day.
A new blog on the scene this week was False News With Balls. Check out the publication's take on this week's top legal headlines and news. Just make sure you don't believe everything you read...
Pps: Apologies, but the blogs' hit counters were slightly broken this week, registering less hits than they should have due to a technical error. Add between 50 and 100 per cent and you will more or less get at the real numbers although it is mostly academic since hits should not matter anyway.
By reading the comments you agree that they are the (often anonymous) personal views and opinions of readers, which may be biased and unreliable, and for which Legally India therefore has no liability. If you believe a comment is inappropriate, please click 'Report to LI' below the comment and we will review it as soon as practicable.
"Maybe the only realistic way to get a bar exam done when thousands of students and sub-standard law schools might dissent, is to make it a fait accompli?"
This comment made in above article is really in bad taste, such sweeping generalization! What made you assume that only sub-standard law schools going to raise voice against this bar exam?
Maybe the original wording is not entirely unequivocal although it does not read that only substandard schools would dissent either.
What was meant is that the potentially strongest lobby-group against the bar exam might be law schools and students that are sub-standard - after all, what good is a law degree if the graduates might not pass a required exam afterwards.
Those two groups (as well as perhaps several others) might have everything to lose after a bar exam full stop, no matter when it is held.
I do not think any students at any of the top 20 or 50 or 100 law schools would have serious cause to be worried about not passing the exam, judging by the "basic" level of difficulty it will apparently be pegged at.
I would therefore argue that the only thing that could potentially delay a bar exam indefinitely would be such lobby groups who tried doing everything they could to stop the exam from ever happening.
A mere hypothetical, at this point, of course.
Apologies for any ambiguity or offence caused. I realise now that it should have been explained better - please read the first few paragraphs of the one-year legal education round-up which explains it far better:
News letter is good, as always. But you forgot the 'best comment', 'best forum discussion' things...maybe you were running short of time? You have a lot on your plate...associate satisfaction survey and the blogging roundup 2. Hope to see myself there...?
"What was meant is that the potentially strongest lobby-group against the bar exam might be law schools and students that are sub-standard - after all, what good is a law degree if the graduates might not pass a required exam afterwards.'
It's these lobby groups comprising third-rate lawyers who are alo preventing foreign law firms from entering. It is always the mediocre elements of our society which has opposed liberalisation.
@ 6: It's some of the top oligopolistic law firms in the country that hire the arguably best talent in the country that are behind blocking foreign law firms.
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This comment made in above article is really in bad taste, such sweeping generalization! What made you assume that only sub-standard law schools going to raise voice against this bar exam?
Academic things matter. 'Hits' get bloggers 'high'. Broken hit counters leave us broken. Please take these things into consideration.
Maybe the original wording is not entirely unequivocal although it does not read that only substandard schools would dissent either.
What was meant is that the potentially strongest lobby-group against the bar exam might be law schools and students that are sub-standard - after all, what good is a law degree if the graduates might not pass a required exam afterwards.
Those two groups (as well as perhaps several others) might have everything to lose after a bar exam full stop, no matter when it is held.
I do not think any students at any of the top 20 or 50 or 100 law schools would have serious cause to be worried about not passing the exam, judging by the "basic" level of difficulty it will apparently be pegged at.
I would therefore argue that the only thing that could potentially delay a bar exam indefinitely would be such lobby groups who tried doing everything they could to stop the exam from ever happening.
A mere hypothetical, at this point, of course.
Apologies for any ambiguity or offence caused. I realise now that it should have been explained better - please read the first few paragraphs of the one-year legal education round-up which explains it far better:
www.legallyindia.com/20100604926/Law-schools/happy-birthday-li-part-2-the-best-of-law-students-mooters-and-schools
Best regards,
Kian
It's these lobby groups comprising third-rate lawyers who are alo preventing foreign law firms from entering. It is always the mediocre elements of our society which has opposed liberalisation.
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