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I work at a London MC. India entry is neither a priority nor a focus area for the firms. They will all make some form of entry as limited partnerships etc., but the move will be akin to shifting their respective India desks to India. Not a major shift in any form or manner. If Indian attorneys think foreign law firms are going to take out six floors in a building somewhere and bump up retainers big time, they're mistaken unfortunately.
https://www.barandbench.com/news/bci-committee-chair-cyril-shroff-to-examine-concerns-rules-entry-of-foreign-lawyers-to-india
The committee will be chaired by Managing Partner of Cyril Amarchand Mangaldas, Cyril Shroff and will comprise Ajay Bahl (AZB & Partners), Suhail Nathani (ELP), Sandip Bhagat (S&R Associates), Mahesh Agarwal (Agarwal Law Associates) and Amit Kapur (JSA) as other members.
Looks like BCI has ditched Trilegal founders to be a part of this. Hope that the Committee engages in full deliberations with all stakeholders including think thanks, students and young lawyers.
Also easy escape for CMS-Indus arrangement as the article notes that one of the functions of the Committee is
"To propose safeguards to prevent foreign lawyers or firms from circumventing restrictions and engaging, directly or indirectly, in the practice of Indian law through structures such as alliances, referrals or partnerships"
This may affect unverifiable word on the streets on collabs like Sidley-KCO , A&O Shearman-Trilegal etc
"A few little birdies told us two foreign firms are exploring the opportunity seriously - one that reminds you of the address of a well-known pipe-smoking detective and another known for its mid-market M&A practice."
"One of the birdies, however, mused: “What if a foreign firm just cherry-picks the star partners of a bunch of Indian firms for its Indian operations?” Hmmm...the plot will only thicken from here"
MC Insider | A startup founder's bet on longevity and foreign law firms circle India https://share.google/w8i7CU0vROM85YpGd