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No. As a lawyer, you can taking classes as a Guest Faculty, but BCI rules don't allow for practicing lawyers to be fully employed.
Rule 51 of Part VI of the Bar Council of India Rules:

"51. An advocate may review Parliamentary Bills for a remuneration, edit legal text books at a salary, do press-vetting for newspapers, coach pupils for legal examination, set and examine question papers; and subject to the rules against advertising and full-time employment, engage in broadcasting, journalism, lecturing and teaching subjects, both legal and non-legal."

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The Advocates (Right to Take up Law Teaching) Rules, 1979 - they allow an advocate to teach for upto 3 hours a day.
No need to stress; there's no one enforcing these rules unless a nemesis deices to grease the wheels of the BCI just to screw you! The closest India came to reforming the ineffective BCI was in 2010 when Gopal Subramanium took charge as Chairman. His tenure brought a brief period of transparency, but it was a tough battle against the entrenched bureaucracy.

Kian, it's time to share your insights from that period with our readers. They could benefit from understanding those events.
No. But it's better to do it the other way round. Work as an advocate and join as a guest lecturer or better as a "professor of practice".
No, the assistant professors are employees and employees can't practice. A practicing advocate can become a professor of practice.