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Industry : Law Functional Area : India
Activity:  4 comments  1280 views  last activity : 07 06 2010 20:18:04 +0000
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The pressure from overseas to open up the legal service sector to foreign law firms has mounted recently. Much debate and speculation now surrounds the subject with the law ministry being tentatively inclined to favour the liberalisation of the legal service sector.

However, the majority of Indian law firms are strongly opposed to the proposal to open up the area. There are also issues of national interest that must be considered before proceeding to liberalise the sector.

The proposal to open up the legal service sector is premature. The extensive debate and consultation that should have preceded such a move has yet to take place. An expert body needs to examine it. This is a matter that will affect not just the legal profession but also the nation at large.

I too agree with that, foreign firms are quite skeptical about practising law in Indian firms and it defenitelly has direct influence over Indian civillian. No doubt it will provide Indian firms with various trade and economic benefits like:

  • Hire services of foreign law firms in the case of a cross border M&A
  • International fund raising
  • Legal issues in foreign contries
  • Partnerships of Indian and foreign firms

Apart from all thse benefits, there is a lot of unceratinity involved and to overcome those unceratinities, Government has taken various initiatives and regulations for foreign companies, who will be practising law in Indian firms, like the foreigneres will not be allowed to appear in the courts. The law ministry also plans to set up a regulator to monitor foreign firms.

But do youthink that this is intelligent enough? The law ministry’s proposal in its current form cannot be accepted. Moreover, there are issues of process and national interest to be taken into consideration, the fact that a flourishing Indian legal profession is crucial to the economic, social and political well-being of the country and it should not be forgotten.

 Top Comment : Jaygopal Raghavan   | 07 23 2008 08:15:14 +0000
good article but you forget the basic point that our indian legal system itself is in shambles. Corruption runs rife in the system. Even judges are not above it. Laws are outdated. We still use over 400 laws that were created by the british which dont have a relevance or usage in todays world. I feel, first the entire legal system has to be cleaned, cases have to be cleared and only then can we have foreign participation and if even then we have them, they should be limited to equity participation and lending of their knowledge especially in research of cases but certainly should not be allowed to argue in courts unless they pass through our LLB or some such exams. In the US anyone from outside who wants to practice law has to pass their law exams and serve as apprentice for a period of time before they are given the licence.
 
4 comments on "foreign law firms may enter india"
  Commented by  Pradeep Kumar P. K. , Law Officer, SAIPL    | 11 22 2008 08:42:12 +0000
Rating : +1 
Its rather funny to see such article that is opposing any foreign entry in the filed of law. aren't we aware of their presence in other fields. the legal community has no moral right to raise their voice by being a silent spectators of all that has happened after liberalization, and make all this hue and cry when you feel it has a bad impact on us(legal community)

If we can Justify Multinational presence in all other fields has a requirement for a better growth of India, it is unfair to raise such objection now. it is high time to make an unbiased analysis upon liberalization. 
  Commented by  Yogesh Naik, Lawyer/Attorney, Law Chambers, Karwar    | 11 22 2008 04:36:55 +0000
Rating : +1 
Even the New Laws that we have are failing us, the best example is the Negotiable Instruments Act. And the Lack of direct Control of the Judiciary over the Police is another hindrance in Criminal Cases. The Accused are often hand in glove with the police and are rarely brought to the Book. The Judiciary needs its own Executive machinery like the police force to implement its Orders. 

Even the Judges are lagging behind in terms of knowledge and even precedents, they need proper training and regular appraisal. If these things are done, then there will be speedy justice in the true sense.
  Commented by  varsha mishra, technical Manager, rfrac    | 10 03 2008 17:07:55 +0000
gud sharing
  Commented by  Jaygopal Raghavan, Head/VP/GM-Client Servicing, Percept Holdings    | 07 23 2008 08:15:14 +0000
Rating : +2 
good article but you forget the basic point that our indian legal system itself is in shambles. Corruption runs rife in the system. Even judges are not above it. Laws are outdated. We still use over 400 laws that were created by the british which dont have a relevance or usage in todays world. 

I feel, first the entire legal system has to be cleaned, cases have to be cleared and only then can we have foreign participation and if even then we have them, they should be limited to equity participation and lending of their knowledge especially in research of cases but certainly should not be allowed to argue in courts unless they pass through our LLB or some such exams. 

In the US anyone from outside who wants to practice law has to pass their law exams and serve as apprentice for a period of time before they are given the licence. 
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