Clifford Chance In Talks With Indian Firm

The Indian Economic Times is reporting that Clifford Chance…..

 is in talks with Indian law firm AZB & Partners for a tie-up involving client referrals, joint training, consultation and joint marketing, according to sources.

The sources told the publication  that talks were at an advanced stage and the tie-up could be announced within 2-3 months.

 

The report goes on to say..

At present, foreign law firms are not allowed to operate in India and the Bar Council of India prohibits joint ventures between foreign and domestic law firms. But, global entities are opting for tie-ups with Indian partners, as they look to establish an India presence, in anticipation of a possible opening up of the local legal services industry to foreigners.

When contacted by ET, AZB & Partners senior partner Percival Billimoria said: “We interact regularly with several international law firms in the normal course of our work. While such close working relationships can foster friendships and an enduring dialogue at all levels on matters of common interest, we have no specific information at this moment to share with you on the subject matter of your inquiry.” An e-mail sent to Clifford Chance did not yield any response.

A senior executive with another law firm said: “Clifford Chance wants to position itself ahead of any future liberalisation of the Indian legal market.” The firm is already active in India-related practice and has lawyers across different locations including London and New York.

Other big legal firms such as Allen & Ovary, Linklaters and Freshfields Bruckhaus Deringer have built a presence in India through informal tie-ups with local law firms such as Trilegal, Talwar Thakore & Associates and Baruchas, respectively.

Lawyers expect that the law ministry may soon allow UK-based law firms to practice in India, provided the British government allows Indian firms to enter the UK legal space. If the proposal goes through, India will have to open its doors to other countries as well.

“Once the Bar Council opens the floodgates to global majors to foray into India, the tie-ups between foreign and Indian law firms would be leveraged,” said a partner at a Mumbai-based law firm, who did not wished to be quoted.

 

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