The Society of Indian Law Firms (SILF) is holding a meeting on March 20 to discuss the recently released Bar Council of India (BCI) Rules that allow foreign law firms to practice and advise on foreign law in India.

On the opening up of the Indian legal market, SILF President Lalit Bhasin said,

"It is a welcome step, but the BCI Rules need to be ironed out. Particularly, interest of the Indian legal profession should be safeguarded."

He added,

"This meeting is being held to discuss the new BCI Rules as to how these Rules would favourbly or adversely impact the Indian legal profession and particularly Indian law firms."

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."

Bhasin will chair the meeting that is likely to be attended by Managing Partners of the top Indian law firms inclduing Pallavi Shroff, Rajiv Luthra, Anand Desai, Sudhir Mishra, V Lakshmikumaran and others.