This development just reported on the Finance Asia.com website should make the Indian Justice Ministry and various legal socities and bar associations sit up and pay attention. Whether it will, of course, is a different matter.
Once again Singapore is stealing a start on India’s unwillingness to move at pace on the question of foreign law firms being granted practice licenses.
Finance Asia.com reports that UK giant Clifford Chance has opened a Singapore desk: writing….
Clifford Chance forms India team in Singapore
The new team, which builds on 50 years of Indian advisory work from across the firm’s global network of offices, will focus primarily on capital markets transactions.
Clifford Chance has set up a dedicated team of lawyers in Singapore under the leadership of Edward Bradley that will focus on capital markets transactions in India.
Like other international law firms, Clifford Chance is prevented by Indian regulations from having a practice on the ground in India and to advise on Indian law, but the firm has an Indian group with over 195 members spread among 16 offices in 12 countries and works closely with a number of leading Indian law firms to provide its clients with the best possible advice. According to a press release issued Friday, the establishment of a dedicated India team in one place is a logical development after the firm has advised Indian and foreign companies and lenders on a wide range of work involving India for over 50 years.
Full report at http://www.financeasia.com/article.aspx?CIaNID=88613
Also see a report in ThaIndian News with commentary
