Categories:India & Pakistan,UK

Firms use interim tactics to position for Indian liberalisation

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  • Liberalisation will be good for India

    Opposition to liberalisation of the Indian legal market comes from two places: the small number of Indian firms, and the large number of one or two-man practices.

    The tiny firms in actuality have nothing to lose from liberalisation, as the kind of work they do is not of interest to international firms. However they have been misled about the supposed threat by the large firms, who between them have almost a monopoly on top work and are making a fortune as a result.

    Liberalisation would indeed be bad news for the tiny number of equity holders at those firms (most of them family members), but it would be good for other India corporate lawyers who will stand a far better chance of getting rich.

    More importantly, however, it will be good for Indian business, which for the first time would be presented with a range of different law firms to choose from that as a result of market dynamics, will in time push down the prices, and push up the quality. Viva the revolution!

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  • Sign of Things to Come

    Well, Rahul Guptan's move is nothing unusual from his as well as CC's perspective. If the international firms plan to position themselves for an imminent Indian entry in the next five years packing up competent Indian lawyers is but obvious. Associate hire cannot give the desired boost unless there are some Indian hires at the partner level to guide the hired associates and maneuver the Firm's visibility among Indian business and Indian focused businesses.

    As for the Indian firms, the lateral shifts could be shaped to work out for their benefit by helping strengthen relationship between the foreign firm and the Indian firm. Most likely the foreign firms would take time to be full service providers in India and would necessarily have to rely upon strong Indian connections. This is what the Indian firms may look at for creating supporting relationships with the outgoing lawyer/partner and the foreign firm.

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  • Who you foolin??

    Whilst its true that liberalization of the Indian market has taken long, a lot of the blame must be attributed to the tactics adopted by the global firms.

    Their intensions are purely selfish and profit orientated. this is understandable from a free market perspective but no real attempt has been made to address the underlying issues.

    who is bradley foolin when he claims that CC is not practicing indian law. for that matter, the hordes of lawyers in linklaters are doing the same thing. they are in fact providing indian law advice and marketing themselves accordingly. the interiem tactics to position for india must be carefully srutinized by indian and english regulators to ensure that regulatory lines are observed. full scale investigation by regulators at both ends is called for. the english law society cannot connive with the likes of bradley and co, and must adopt an independant regulators stance.

    have the hordes of indian qualified lawyers, including people likle guptan and partha promised to surrender their indian licenses?? this must be done if the claim of not practising indian law is to be credible.

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  • Mandal bundle!!

    For all the tall claims by Mr. Mandal, he should clarify how much equity his family holds in the firm and also, his interests in the outsourcing outfit.

    What’s the partnership track in his firm and what are the chances of a non family partner being given an equity share in the firm. Do the non family partners have any management rights?

    As a known proponent of liberalisation it will be good to get these clarifications. At least his partners and associates, and also the market place, would like to know since Mr. Mandal makes a lot of tall claims, without practicing what he preaches.

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  • india

    no one is going to push for stripping licenses of indian lawyers working in london or new york..most of them are related to indian partners..

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  • very true

    where does Shardul's daughter and son-in-law work - CC and Freshfields! need i say more!

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