![RBI Directs Banks Not To Grant/Renew Permissions To Foreign Law Firms For Opening Liaison Offices In India](https://www.livelaw.in/h-upload/2020/06/16/376579-rbi.jpg)
RBI Directs Banks Not To Grant/Renew Permissions To Foreign Law Firms For Opening Liaison Offices In India
Live LawThe Reserve Bank of India has directed the banks not to grant fresh permissions/ renewal of permission to any foreign law firm for opening of Liaison Office in India.The RBI notification referred to a Supreme Court judgment which held that advocates enrolled under the Advocates Act alone are entitled to practice law in India and that foreign law firms/companies or foreign lawyers cannot. The Reserve Bank of India has directed the banks not to grant fresh permissions/ renewal of permission to any foreign law firm for opening of Liaison Office in India. The RBI notification referred to a Supreme Court judgment which held that advocates enrolled under the Advocates Act alone are entitled to practice law in India and that foreign law firms/companies or foreign lawyers cannot practice profession of law in India. The Foreign Exchange Management Regulations defines 'Liaison Office' means a place of business to act as a channel of communication between the Principal place of business or Head Office by whatever name called and entities in India but which does not undertake any commercial /trading/ industrial activity, directly or indirectly, and maintains itself out of inward remittances received from abroad through normal banking channel; The Supreme Court, in a judgment delivered in 2015 had held that foreign law firms cannot set up offices in India or practice in Indian Courts.
History of this topic
Explained | Are foreign law firms now allowed in India?
The Hindu!['Foreign Lawyers Entry' Rules Should Be Welcomed In 'National Interest', It Won't Affect Advocates Practicing In India: BCI](https://www.livelaw.in/h-upload/2022/04/08/414358-bar-council-and-lawyers.jpg)
'Foreign Lawyers Entry' Rules Should Be Welcomed In 'National Interest', It Won't Affect Advocates Practicing In India: BCI
Live LawForeign lawyers, firms can operate in India: BCI
The Hindu![Bar Council of India agrees to open up law practice in India to foreign lawyers, firms](https://images.firstpost.com/uploads/2023/03/judiciary.jpg?im=FitAndFill=(1200,675))
Bar Council of India agrees to open up law practice in India to foreign lawyers, firms
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