This bar and bench article talks about some restrictions of LLP formation,
...........There is no level playing field given the constraints on Indian firmsregarding forming LLPs, ......
What restrictions are these on Indian law firms?If I am not wrong CAM and its assets real estate etc are eventually part of some Shroff LLP company, right?Knowing them they will say the law/restriction doesnt apply to them.....but what LLP restriction on other Indian law firms?
How in a moment's instance the tables are turned.....and suddenly all the Lalas are doing what every 2nd year and 3rd year internship hopeful does.....send out emails, representations, CV,call for support(contacts,networks), write purpose letters etc..........Now while they are writing representations to BCI, which will e ignored because the Gicernments wants the FTA bad, they will allnve drafting at the side the feelers they want to send out to foreign law firms in hope of collaborations..........History repeats because Karma has to catch up.....you can "fix" matters in this Court but not that one..............
Pretty sure SILF would prefer that India first become an arbitration hub and then open itself upto foreign lawyers. The arbitration lawyers are going to be hurt the most.
We should also send a representation to the BCI on behalf of law associates and law students setting out how this move will benefit us, potential up sides of such move and stating that we stand with the BCI's decision.
Remember how the White Walkers were destroyed in game of thrones? Arya killed the Night King and then all the others melted away. Same principle here. We need to target the Night King who is leading the opposition to liberalisation.
The meeting finally happened, and as expected the stance is quite clear. Some of the Managing Partners were even in favour of challenging the Rules before the courts, lmao.
SILF's website has been taken down so not clear who the current office bearers are. But as far as I recall the following are in the SILF committee (and thus likely to attend the meeting):
All top law firms are in attendance, but nobody will be very keep to vocally oppose entry because they know that foreign law firms will take note of who said what at the time of entry. Now is the time for desi law firms to do what they do best: backstab and shore up their own interests.
No need for 2 minute silence for impending death of SILF.Theres going to a good long peaceful silence in many freed lives of legal sector slaves. Good riddance to the Lala firm era,let the dawn on Indian legal sector's freedom happen.
"Since 2014, SILF has not opposed entry of foreign law firms. But it has to be done in a staggered manner keeping the interest of Indian lawyers and law firms."
FYI SILF once said foreign law firms are like the East India Company. Not kidding. See this report on LI (quoting general secretary Rohit Kochhar):
...........There is no level playing field given the constraints on Indian firmsregarding forming LLPs, ......
What restrictions are these on Indian law firms?If I am not wrong CAM and its assets real estate etc are eventually part of some Shroff LLP company, right?Knowing them they will say the law/restriction doesnt apply to them.....but what LLP restriction on other Indian law firms?
https://www.barandbench.com/news/corporate/entry-of-foreign-law-firms-indian-firms-flag-concerns-on-reciprocity-level-playing-field-silf-to-send-representation-to-bci
https://www.barandbench.com/news/corporate/entry-of-foreign-law-firms-indian-firms-flag-concerns-on-reciprocity-level-playing-field-silf-to-send-representation-to-bci
- Lalit Bhasin
- Cyril Shroff
- Vandana Shroff
- Pravin Anand
- Rohit Kochhar
Hahaha.
On SILF's position, Bhasin said,
"Since 2014, SILF has not opposed entry of foreign law firms. But it has to be done in a staggered manner keeping the interest of Indian lawyers and law firms."
FYI SILF once said foreign law firms are like the East India Company. Not kidding. See this report on LI (quoting general secretary Rohit Kochhar):
https://www.legallyindia.com/the-bench-and-the-bar/how-silf-feels-about-liberalisation-not-happy-but-more-or-less-ready-for-entry-wants-singapore-model-20150825-6496