Optimistic that foreign law firms will enter soon, says Law Secretary PK Malhotra

Law Secretary PK Malhotra indicated that foreign law firms may be allowed to enter the country soon. A panel speaker at the SILF-ABA India-United States Cross Border Investment 2.0 conference, Malhotra confirmed that the government is taking steps to liberalize the Indian legal market..His talk touched upon two important players in the (seemingly) endless debate on foreign law firms: the Society of Indian Law Firms, and the Bar Council of India. Malhotra said that both these institutions had initially opposed the entry of foreign lawyers, but have subsequently changed their stance..He added that the Bar Council of India is working on a model Memorandum of Understanding for allowing foreign law firms in India. However, this exercise has been delayed with the BCI trying to get all state Bar Councils on board so that there are no problems in implementation..On the litigation pending in the Supreme Court, Malhotra said that the government is keen on consensus..“If it is possible, we would like to bring all those who have filed the petition on board and file a consensus affidavit in the court. We are moving in that direction.”.On being asked about whether the government had a timeline in mind, he said,.“I think what you have to appreciate is that it is not the government alone which has to take the final call. Once you’re dealing with a statutory body created by the law laid down by the parliament, you have to give them time to have their internal consultation. It is their internal consultation which is taking longer than we had anticipated. I can’t give a definite timeline but we are optimistic that it will happen soon.”.But it is not the government alone that is pushing for a speedy resolution..Members of the American Bar Association members are currently in talks with the Bar Council of India to discuss the liberalisation of the Indian legal market. DLA Piper Partner Erik Wulff, said that,.“A follow up meeting with BCI will be done in this regard and we will provide whatever assistance is required from us.”.Other panelists included Lazare, Potter & Giacovas LLP Partner Jaispat S. Jain who suggested that lawyers and law firms ought to be allowed to advertise..Society of Indian Law Firms President Lalit Bhasin, who concluded the panel session, commented,.“We have taken a stand that we are no longer against the entry of foreign law firm and we rather support it and we stand with the government’s initiatives”..He mentioned two important issues for liberalization – one, amending the Advocates Act 1961, and two, getting the BCI to withdraw its appeal before the Supreme Court..“What is stopping the BCI from withdrawing its appeal?. That would put the end to the litigation..Bhasin concluded, “We want the liberalisation of the legal profession but we do not want the commercialisation of the profession. Commercialisation is not on our agenda.”