Information Filled Under 'Practicing Law in India' Category
DEMAT Account for Religious Deities Monday, August 2nd, 2010
An interesting issue recently fell for the consideration of the Bombay High Court- whether DEMAT accounts could be held in the name of deities. The Court answered this question in the negative, relying on largely practical and partially moralistic reasons in coming to its conclusions
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DEMAT Account for Religious Deities
In a fillip to the increasing global ambitions of Indian industries, the Delhi High Court, in Maruti-Suzuki India Ltd . v. ACIT , clarified the application of transfer pricing provisions to the use of foreign trademarks in India.
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Delhi High Court clarifies Transfer Pricing law
Earlier this month, a division bench of the Bombay High Court considered an important question regarding the legal character of an overdraft facility offered to a customer. The issue before the Court in Sargam Foods v. State of Maharashtra , was whether the cash credit facility offered by a bank can be attached in recovery proceedings against one of its customers.
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Legal character of an overdraft facility
One question I am frequently asked is how to market without coming across to the potential client as a pest? The question is natural because most lawyers have financial advisors and life insurance salesmen and women hustling their business.
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A Friday Coaching Session with Cordell: How to Market Without Being a Pest
Have you ever been to a retreat you thought was a waste of time? I have been to several. If you want to make your retreat valuable, consider discussing some or all of these questions and developing action plans: Are you totally satisfied with the amount of business members of your practice group are generating
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19 Questions to Discuss at Your Next Practice Group/Department/Office Retreat
“ The moral of the story is to agree first and start work later .” So observed Lord Clarke recently, in delivering the unanimous judgment of the United Kingdom Supreme Court in RTS Flexible Systems [“RTS”] v.
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"Subject to" Contracts and Agreements "Not Completed"
I won’t share with you the exact number of people reading my blog posts, or the exact number of lawyers on my Facebook coaching page, or the exact number of people following me on Twitter. Let’s just say it is in the hundreds and not thousands. Are you in the same situation with your blog posts?
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Could Your Social Media Content Generate 300,000 subscribers?
Angie Davis is a Labor and Employment lawyer from Memphis I coached a few years ago. Angie put a lot into the coaching and got a lot out of it. She recently shared with me a change she made that is paying off for her: One of the greatest lessons I learned from Cordell’s coaching is that you are never going to become a rainmaker sitting in your office and waiting for others to bring you work
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Lawyer Marketing: You Have to Get Away from Your Computer to Make Rain
Consistent with international trends to impose greater regulation on executive compensation in banks, the Reserve Bank of India (RBI) has issued draft guidelines on compensation of whole time directors/ chief executive officers / risk takers and control function staff. This applies to private sector and local area banks and all foreign banks operating in India, and is in addition to tight controls that already operate with respect to public sector banks. The preamble contains the rationale: Flawed incentive compensation practices in the financial sector were one of the important factors contributing to the recent global financial crisis
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Regulating Bankers’ Pay
I appreciate the great interest in the blogs I posted earlier this week 20 Things I Wish Someone Had Told Me When I Was a First Year Lawyer and 15 Additional Things I Wish Someone Had Told Me When I Was a First Year Lawyer . I believe more lawyers read that post than any I have done this year.
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Your Future and Security Depend on Your Client Development Success
M&A Law Prof Blog has a link to JeffreyWeiner’s Due Diligence in M&A Transactions: A Conceptual Framework which provides an overview of the due diligence process and its objectives in an M&A transaction. It will be a particularly useful reading for corporate lawyers who are starting out this season
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Guidance on Due Diligence
We have discussed at length the controversy last year over taxation of fees for technical services. In brief, the Supreme Court had taken the view in Ishikawajma that s. 9(1)(vii) of the Income Tax Act, 1961 applies only when services by a non-resident are both rendered and utilized in India.
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Fees for Technical Services – Ashapura Minechem
Events in Indian corporate governance that occurred starting January 2009 have spurred academic research on the role and effect of independent directors on corporate boards. While some findings indicate an important role for such directors on Indian companies, others are not so optimistic and call for greater reform of that institution. The purpose of this post is to point to some of the available literature
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Academic Literature on Independent Directors in India
I believe most law firm leaders know what business clients expect and want from outside lawyers and firms. But, I wonder if law firms effectively use what they know. The vast majority of business clients report: They hire lawyers rather than law firms
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Law Firm Marketing; Are You Focused on What Clients Want?
The Government has reopened the debate on allowing foreign investment in the multi-brand retail sector. A discussion paper issued yesterday reviews existing studies conducted by the Government and other entities on this topic and also examines the experience in other emerging markets. The rationale for FDI in the retail sector is set out as follows: 6.1 The Agriculture sector needs well-functioning markets to drive growth, employment and economic prosperity in rural areas of the country.
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FDI in Multi-brand Retailing
It is often said that the importance of careful analysis of statutory language cannot be overstated, especially in fiscal matters. One will not be surprised to find, therefore, that the term “professional services” has recently engendered an interesting controversy as to its true scope
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"Professional Services"
Given the robust nature of the class action mechanism in the U.S., it is hardly surprising that plaintiffs rush to initiate legal actions before the U.S. courts even in relation to foreign companies that have issued securities listed on non-U.S. stock exchanges.
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Extra-Territoriality of U.S. Securities Laws
Recent events, both in India and elsewhere, have thrown the spotlight on the roles and responsibilities of companies in society. In an interesting article “The Conscience of Capitalism” in Forbes India, Arun Maira discusses (in a non-technical fashion) the difficulties in pinning responsibility for wrongdoing by a company. Pertinently, he notes that while the “limited liability corporation is an invention of man” and a “device created to attract capital”, we also have “institutions and laws whereby corporations can internalise and privatise profits while costs of damages to communities and the environment are externalised and socialised”
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The Social Cost of Corporations
(The following post comes to us from Rohan Bagai, who has previously contributed posts on this Blog here and here ) The International Chamber of Commerce (ICC) Court of Arbitration Secretary General, Mr. Jason Fry and Ms.
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Webinar on ‘Revision of the ICC Arbitration Rules’
It is generally accepted that a defendant in an action for damages cannot exercise the right of “set-off” on the basis of a mere “claim”, which has not crystallised. For example, while the law permits a defendant to set off debts owed to him by the plaintiff against a successful claim in court, he cannot normally resist the plaintiff’s case on the basis that litigation is pending in other courts, resulting potentially in a decree worth more than the sum due to the plaintiff. The rationale for this rule is that a plaintiff who has successfully pursued an action against a defendant cannot have his claim frustrated on the mere possibility of a decree against him in the future
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The "right" of retention
The Law and Other Things Blog links to Frontline’s extensive coverage of the judgment rendered last week by the Chief Judicial Magistrate in Bhopal. It also provides a detailed account of the twists and turns encountered by various parties to the litigation for the last 25 years.
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Bhopal Gas Disaster Case
Before you start your client development training and coaching program, you likely need to train and coach your coaches. Here is a list of topics I am including in the video and workbook materials: How to select the right participants-Key to program success How many lawyers should be in the program, how long it should last and how often there should be training/teaching and coaching How to get started with the program-coaching questions to get to know the lawyers Differences between the teaching part of the program and coaching part of the program What to cover in the first group meeting-including getting the group to commit to 25 actions Quarterly teaching and training group meetings-Topics, how to use the video and workbook materials, how to provide experiential learning How to prepare and most effectively conduct the first one-on-one coaching sessions How to prepare and most effectively conduct the subsequent coaching sessions Proven ways to enable the participants to be accountable How to conduct self-assessments at the end of the program How to keep the momentum going when the program ends When I started the teaching/training and coaching program in my old firm, I learned quickly that while there are client development principles that apply to all lawyers, one size does not fit all.
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Client Development Coaching-Coaching the Coaches
On June 4, the LA Times posted a blog: John Wooden quotes: Some of Coach John Wooden’s favorite maxims (‘Woodenisms’) . Take a look and I think you will see that many Woodenisms apply to lawyers. I want to focus on two of those Woodenisms today: Never mistake activity for achievement.
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Life and Career Lessons from John Wooden Part III: Activity, Achievement and Learning
(The following post is contributed by Raghav Sharma , who is an associate with a law firm in Delhi) This post relates to Mr. Somasekhar Sundaresan’s article titled “ RBI cuts sorry figure over norms for share transfers ” wherein the author has highlighted certain ambiguities arising from the Reserve Bank of India’s (“ RBI ”) A.P
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More on the Pricing Guidelines for Foreign Investment
While the SEBI Takeover Regulations in India are a subject-matter of detailed review, elsewhere in the U.K. there are proposals for amending certain aspects of the City Code on Takeovers and Mergers. These changes have been necessitated on account of the widespread debate that followed the takeover of Cadbury plc by Kraft Foods Inc
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UK: Consultation Paper on Takeover Bids
You know that when a potential client considers you and your law firm at some point he will look at your website bio and make critical judgments. When he does will he come away feeling you are a lawyer he can trust to handle his matter? Will he have a sense of who you are and what working with you will be like?
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Use Video to Create a Remarkable Website Bio
Last Friday I spoke for the second time this year at an Irving ISD elementary school career day. Each time I speak I feel rewarded for the opportunity I have been given to interact with kids in those fourth and fifth grade classes.
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What Would Your Law Firm Be Like If You Gave Associates "Fed Ex" Days?