The Bar Council of India’s (BCI’s) decision to allow foreign law firms to set up office in India and offer corporate law and merger and acquisition (M&A) services can be seen as a significant step in modernising business in recognition of the increasingly global nature of corporate activities in the country.
What are the new rules?
There are several issues to be sorted out before this rule can be put into practice.
As such, such moves considerably enhance the ease of doing business in India.
Source – Business Standard
QUESTION – Recently, the Bar Council of India laid out new rules for the foreign law firms and lawyers to operate in India on a limited scale. What are the new rules and discuss the challenges and its impact on India’s legal industry.