This week we looked at some of those lawyers who took the road that is often rocky but also sometimes incredibly scenic.
Skills of lawyers are inherently well suited to social activism and working in civil society but why don’t more do it? Read how to become a social lawyer (and why not) to find out.
At law schools social activism is healthy although it could still be more so. NUJS’s legal aid society has prepared its annual report highlighting achievements and the way forward, which is set to involve more national collaboration and initiatives.
At NLSIU Bangalore the legal aid cells and some students have celebrated a victory against soft drink giants Pepsi in a consumer forum in relation to differential MRPs. If it will hold after Pepsi’s likely appeal is another story but it does showcase what can be done with initiative.
In a similar spirit we launched our second legal blogging competition to find the very first and best future Legally India interns. The only requirements: you have to be a good writer, original and fearless.
J Sagar Associates (JSA) announced its annual partnership promotions this week, making up a solid six and a raft of senior associates. And although the equity partnership is full-up at the statutory 20-partner limit it is understood that the firm’s management has been wracking its brains for a while now on the best way of going beyond that (as any growing firm would do well to).
The obvious options are splitting the firm into several conjoined partnerships, converting to LLP, waiting for the retirement of senior partners or re-structuring the salaried partnership into a pseudo-equity model. None are untested at Indian firms although some are perhaps deemed unsuitable?
Khaitan & Co, although widely expected to slow down lateral hiring a little, now seems to have shifted its aim from Bombay to Bangalore where one former JSA partner and start-up founder has joined Khaitan with the aim of institutionalising client relationships.
Finally, Legally India also analysed the little brother in the IPO capital markets game, where the usual suspects for once do not rule the roost: in the 2010-11 right issues league table ALMT, Khaitan & Co and Crawford Bayley lead the way.
Choosing the right road to take can be as personal as it often is strategic.
Deals of the Week
- Amarchand, AZB on first Tata hybrid bond to raise $450m
- ELP, Blake Dawson command Adani $2bn Australian coal p
Blogs of the Week
Odds & Ends
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The TOI article, for example, reads: "LLPs with FDI would be allowed , through the approval route, in sectors/activities where 100% FDI is allowed, through automatic route and there are no FDI-linked performance related conditions. The new rules say that LLPs with FDI will not be allowed to operate in agricultural/plantation activity, print media or real estate business and they will not be eligible to make any downstream investments."
Now I would be very surprised if the legal sector, which currently has 0% FDI, would be included in the first batch of permitted FDI in LLP.
On top of that, even if a blanket law is passed to allow LLPs to take FDI, the Advocates Act would still apply, unless the laws expressly stated that law firms in LLP are allowed FDI?
I am not sure, am just thinking out loud at this stage...
Do share your thoughts, would be interested.
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