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Corporate lawyers from India in greater demand in UK
By siliconindia
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Friday, 26 September 2008, 19:47 IST |
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London: Acquisitions and fund raising activities are in full swing in the global market. In line with these, a parallel development is taking place. Many lawyers specialized in capital market issues are heading to the West to represent cases involving Indian companies abroad. These lawyers are increasingly joining law firms there, reports Financial Express.
Firms such as Clifford Chance, Darlington's and Linklaters are mulling large-scale recruitment from India. Many have already roped in some first-rate talents.
Indian regulations do not allow foreign lawyers to practice in India, therefore the Indian teams of foreign law firms are based outside India. International law firms, especially the big UK firms, have begun to visit Indian law schools for recruitment purpose - a strategy that will help them set up Indian offices should foreign law firms be permitted to practice in India, says a human resource manager at a leading legal outsourcing process (LPO) firm.
According to him, around 95 percent of lawyers in India are litigators, but it's the other 5 percent that this firm is interested in. They are the lawyers working in the emerging capital market of India.
A typical profile of a capital market lawyer includes opinions on Securities and Exchange Board of India (Sebi) Guidelines, Takeover and Insider Trading Regulations including Disclosure & Investor Protection (DIP) Guidelines, investment banking and venture capital fund registration, registration of foreign institutional investors with Sebi and securities litigation at the Securities Appellate Tribunal (SAT). Other areas like issue of American Depository Receipts (ADRs), Global Depository Receipts (GDRs) and placement of Foreign Currency Convertible Bonds (FCCBs) also needs some transaction level advisory.
Sunil Kakkad, partner, Lawrence Graham LLP, a London-based law firm, said, "As the Indian corporates expand their wings globally, clients' demand for advice on Indian transactions also grows. The English language advantage coupled with the Indian expertise in understanding laws of other English speaking nations gives such professionals an added advantage. As far as cases of Indian corporate are concerned, it is a combination of the highest global standards and local expertise which gives them an edge."