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2012 (7) TMI 170 - SCH - Companies LawSLP - Reserve Bank of India shall not grant any permission to the foreign law firms to open liaison offices in India u/s 29 of the Foreign Exchange Regulation Act, 1973. Also, to practice in non-litigious matters in India the foreign law firms, by whatever name called or described, shall be bound to follow the provisions contained in the Advocates Act, 1961.
The Supreme Court of India issued an order stating that the Reserve Bank of India cannot permit foreign law firms to open liaison offices in India under section 29 of the Foreign Exchange Regulation Act, 1973. The Advocates Act, 1961 covers practicing litigious and non-litigious matters, and foreign law firms must follow its provisions to practice in non-litigious matters in India.
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