DigiLaw

Explore India's Mediation Act, 2023! 📜🤝 Discover how this legislation is changing dispute resolution and expanding mediation options. Read more in our latest article.

Mediation Matters: A Note on the Mediation Act, 2023 This article delves into the intricacies of the Mediation Act, 2023, exploring its provisions, impact on dispute resolution, and potential areas for enhancement.

The Bar Council of India (BCI) has recently issued the Bar Council of India Rules for Registration and Regulation of Foreign Lawyers and Foreign Law Firms in India, 2022. This enables foreign lawyers and law firms to open offices in India and practice their foreign law in the country based on reciprocity.

It is important to note that while the BCI's decision is a significant development, it has been cautious in its approach. Foreign lawyers and firms are prohibited from appearing before any courts, tribunals, or statutory or regulatory authorities. Additionally, Indian advocates enrolled with any State Bar Council in India and working in a foreign law firm can only handle non-litigious matters and advise on laws of countries other than India.

In essence, foreign lawyers and firms are allowed to practice only on transactional/corporate work such as joint ventures, mergers and acquisitions, intellectual property matters, drafting of contracts, and similar matters. They can also provide legal advice and appear as a lawyer in any international arbitration case conducted in India.

The RBI has made some important updates to the Liberalized Remittance Scheme. The recent budget has also brought about changes in TCS rate for foreign remittances. Stay up-to-date with the latest developments and learn how these changes may impact your investments abroad. Check out our updated article for all the details.

RBI Updates Liberalized Remittance Scheme: Key Changes to Note RBI’s Liberalized Remittance Scheme allows resident Indians to remit funds within a specified limit without any prior approval from the RBI.