Friday, October 30, 2015
No fresh permission/ renewal of permission to LOs of foreign law firms-Supreme Court’s directions
No foreign law firm shall be permitted to open any Liason Office in India till further notification. However, foreign law firms which have been granted permission prior to the date of interim order of Supreme Court, may be allowed to continue provided such permission is still in force. No fresh permission/ renewal of permission shall be granted till the policy is reviewed based on final disposal of the matter by the Hon’ble Supreme Court.
Based on RBI Circular dt 29/10/15. Please visit www.rbi.org.in for any further clarification if required….. Poppy