Japan
India and Japan share a long history. Buddhism, which was born in India, travelled to Japan around the 6th century. The first major interaction between Japan and India seems to have been Japanese assistance to Shri Subhash Chandra Bose in the fight for Indian independence (1943-45). Post WWII, Japan and India signed a peace treaty and established diplomatic relations on 28th April, 1952. Since then, there have been interactions between Japan and India at various levels, which have increased in the last couple of decades.
Law minister https://www.legallyindia.com/Law-firms/legal-market-liberalisation-investigation-into-lobbying-and-policy told The Hindu: “Yes, Japan has written to us. We are taking the issue of opening up our legal sector on a positive note, but on the condition that it will increase the face-value of our lawyers globally and there will be a mutual exchange of lawyers, law firms.”
BCI chairman Manan Kumar Mishra told The Hindu: “The Union Law Ministry has handed us Japan’s letter which says that they are ready and eager to invite and allow Indian lawyers and Indian law firms to practice Indian laws in Japan. The BCI is studying the proposal.”
“We will be framing this rule of reciprocity after carefully examining the situation for lawyers in each country. For example, if they create a hurdle, like a test which is very difficult to crack, we will also do the same here for their lawyers looking to practice here.”
Legally India and Mint reported earlier this week that in discussions with Society of Indian Law Firms (Silf) and the Bar Council of India (BCI), the government was taking a proactive approach in liberalisation the legal market, possibly within the next two years.
Amarchand Mangaldas’ Bangalore office advised Japan’s largest non-life insurer Mitsui Sumitomo in its Rs 2,731 crore ($530m) purchase of 26 per cent in the joint venture (JV) of Indian insurer Max India and US insurer New York Life Insurance, which were respectively advised by AZB & Partners and Paul Weiss, and Platinum Partners and Freshfields Bruckhaus Deringer.
Exclusive in today’s Mint: Kochhar & Co has secured a Japanese Gaikokuho-Jimu-Bengoshi (registered foreign lawyer) licence and opened an office in Tokyo with one Indian lawyer, while also hoping for permission to open a stand-alone local law office in Dubai.
AZB & Partners, Desai & Diwanji, J Sagar Associates (JSA), Khaitan & Co and Japanese law firm Nagashima Ohno & Tsunematsu have advised on Hero Investments’ acquisition of Honda Motors’s 26 per cent stake in joint venture Hero Honda Motors for $851 million.
Phoenix Legal and Hogan Lovells’ Japanese office have advised advised Japan’s Sojitz Corporation on its joint venture with South Indian business conglomerate Archean Group top operate a marine chemicals plant in India.