Bar & Bench News Network
The Madras High Court has reserved its judgment on the writ petition filed against the entry of foreign law firms. The final arguments stretched into the post-lunch session with some of the country's leading counsels putting forth their arguments.
Senior Counsel Abhishesk Manu Singhvi, briefed by Senthil Ramamoorthy of Dua Associates, and representing the American law firms argued that the requirement to be enrolled only applies to those wanting to practice in India and that such "practice" must be of Indian law alone. Singhvi opined that if the "practice" were to include foreign law, then it would lead to the absurd conclusion where only Indian law firms could advise clients on laws which they might not necessarily be familiar with.
Echoing this school of thought, the foreign law firms have stated that they do not come to India to practice Indian law; rather they merely advise Indian and foreign clients on foreign law or in arbitration matters based on foreign law. The Respondent law firms also raised, inter alia, three preliminary objections with regard to territorial jurisdiction, locus standi and policy decision.
Senior Counsel A. R. Sundereshan, representing the Petitioner, argued that the Advocates Act does not make any distinction between those practicing Indian and foreign law. He further contended that the High Court does have territorial jurisdiction since foreign law firms do come to Tamil Nadu and advise clients in Tamil Nadu. Furthermore, the Petitioner also has locus since he is enrolled in Tamil Nadu and practices in the State. Lastly, the Senior Counsel argued that this is not a policy decision but merely a plea for the implementation of an existing policy.
With the arguments concluded, the Court has reserved its judgment. Both foreign and Indian law firms must now wait and watch.
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- 1. "The interesting point here is that in case the court goes on to hold that 'practise of law' includes not just Indian law, but also foreign law, then in a lot of cases, even advice given by representatives foreign law firms attending meetings etc in India would be illegal. This may lead to an absurd situation in several cases, including capital markets where it is common practice to engage ILCs for drafting the business sections of prospectuses filed with SEBI.". Delhi Lawyer, New Delhi
- 2. "why Indian lawyers afraid of foreign law firms? THE SENIOR LAWYERS, WHO EARN FABULOUSLY,ON THE ADVENT OF FOREIGN LAW FIRMS. WILL BE DEPRIVED OF THEIR MONOPOLY .I PITY WITH THE JUNIORS.WHO ARE NEITHER ENCOURAGED BY THE BAR OR BY THE BENCH.". Damodaram, (Unknown City?)
- 3. "Why don you give opportunities to we young lawyers. Why no one is arguing for us??". Junior Lawyer,
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The Viewpoint: Indemnification Provisions - Is the fight on the indemnity clause worth the effort?
May 17, 2012 | Bar & Bench brings to you the twentieth article on 'The Viewpoint' series with its Knowledge Partner AZB & Partners. AZB Senior Associate Nandish Vyas and Associate Pranati Ishwar in this article seek to examine the context in which indemnification rights are relevant for acquisition transactions, and also seek to explore if there are areas where they are potentially not worth the comments (4)










