13.07.2016 Minutes of the meeting of SILF members held at 3 pm on Monday, July 11, 2016 at the Hyatt Regency, New Delhi. The following were present: Mr. Lalit Bhasin, Bhasin & Co. (President) Mr. Siddharth Raja, Samvad Partners Mr. Raman Sharma, AZB and Partners Mr. Rajiv Luthra, Luthra and Luthra Mr. Lakshmi Kumaran, Lakshmikumaran & Sridharan Mr. Yakesh Anand, Anand and Anand Associates Ms. Shivpriya Nanda, JSA Mr. Vinay Vaish, Vaish Associates Mr. Hitender Mehta, Vaish Associates Mr. Suhail Nathani, Economic Laws Practice Mr. Percival Billimolia, Cyril Amarchand Mangaldas Mr. Mohit Saraf, Luthra & Luthra Mr. Umang Gupta, BPG Law Chambers Mr. Gautam Khaitan, O.P. Khaitan & Co. Mr. Anshuman Sood, Virender Sood & Co. Ms. Namita Chadha, Chadha & Co. Ms. Manila Sarkaria, Chadha & Co. Mr. Akshay Jaitly, Trilegal Mr. Sitesh Mukherjee, Trilegal Mr. Shardul Shroff, Shardul Amarchand Mangaldas Ms. Pallavi Shroff, Shardul Amarchand Mangaldas Mr. Jatin Aneja, Shardul Amarchand Mangaldas Mr. Rajat Mukherjee, Khaitan & Co. Mr. Amir Singh Pasrich, I.L.A. Pasrich & Co. Ms. Priti Suri, PSA Mr. Dhruv Wahi, Kochhar & Co. Mr. Saket Shukla, Phoenix Legal Mr. Manoj Kumar, Hammurabi & Solomon Mr. Alok Kumar, THS -The Law Firm Mr. Atul Dua, Seth Dua & Associates 1. Minutes of the meeting of SILF members held on May 6, 2016 were read out and were duly confirmed. 2. The President placed before the members the complete building plan for the SILF building as was discussed in the last meeting. It was pointed out that for the joint project of SILF – Bar Association of India building the architects have given an estimate of about 12.5 Crores which will be shared equally by SILF and Bar Association of India. The members present were requested to make substantial contributions directly or indirectly. Various proposals were put forth for raising funds. Since the building has to be completed within a period of 18 months or so it was conveyed to the members that funds should be organised expeditiously. A building committee was reconstituted as under : Mr. Manoj Singh (Convenor) Mr. Jyoti Sagar Mr. Rajiv Luthra Mr. Lakshmi Kumaran Mr. Gautam Khaitan Mr. Suhail Nathani Ms. Pallavi Shroff Mr. Akshay Jaitly, Trilegal Mr. Cyril Shroff Mr. Haigreve Khaitan Mr. Atul Dua Mr. Rohit Kochhar Ms. Manjula Chawla, Phoenix Legal Convenor was requested to prepare an action plan for raising funds and to hold meetings / discussions with other members of the committee. The committee should give its recommendations to the President and other office bearers by 20th August, 2016. 3. It was decided to organise an interaction over dinner with the new Union Minister for Law & Justice, Mr. Ravi Shankar Prasad, Minister of State, Mr. P.P. Chaudhary and the Law Secretary. 4. The President briefed the members regarding the meeting convened by the Ministry of Law & Justice on 5 th July, 2016 at Shastri Bhawan, New Delhi to consider Draft Rules framed by Bar Council of India in connection with registration of foreign lawyers / law firms in India. The meeting was attended among others by the President and Mr. Rajiv Luthra, Senior Vice President of SILF. On behalf of SILF it was conveyed to the worthy Law Secretary who was chairing the meeting that the Draft Rules are not consistent with the presentation made by SILF and by the Department of Commerce, Government of India during the Inter Ministerial Group Meeting held under the Chairmanship of the Commerce Secretary in January, 2015. The point of view of SILF and Department of Commerce was duly reflected in the minutes of the Inter Ministerial Group Meeting circulated by Department of Commerce. The President handed over copies of the said two documents to the Law Secretary. It was pointed out to the Law Secretary that the Draft Rules could have serious implications for the law firms in India as these rules among other things open the door for foreign law firms to engage and enter into arrangements with Indian lawyers. Phase-1 has been given a complete go by. In this phase there was to be internal liberalisation of the profession such as permitting LLPs, opening websites, permitting brochures etc. The stand of SILF was duly supported by Department of Commerce in the meeting. A large number of SILF members had desired that we should take time to make a full proper and detailed presentation on this vital issue. Accordingly, we requested the Law Secretary to give SILF four weeks’ time so that the presentation as aforesaid can be prepared and shared with the Ministry. The Law Secretary was gracious enough to allow the request and he also suggested that SILF should examine whether the proposed Draft Rules would require amendment of the law. The meeting was held in a very cordial atmosphere. 5. There was deep appreciation of the strong stand taken by SILF in the meeting with the Law Secretary and various suggestions / inputs were given. In order to expedite the preparation of a proper and detailed presentation to be made in the next meeting to be convened by the Ministry, it was decided to constitute a Committee which should prepare the draft recommendations to be placed before the SILF members meeting to be held in the first week of August, 2016. The Committee would constitute of the following : Mr. Lakshmikumaran - Chair Mr. Jyoti Sagar - Co-Chair Mr. Shardul Shroff Mr. Cyril Shroff Ms. Zia Mody Mr. Nishith Desai Mr. Haigreve Khaitan Mr. Percy Billimoria Mr. Mohit Saraf - Convenor Ex Officio Members Mr. Lalit Bhasin, President Mr. Rajiv Luthra, Senior Vice President Mr. Rohit Kochhar, Secretary Ms. Manjula Chawla, Treasurer 6. The President informed the members about other activities undertaken by SILF since the last meeting and also informed the members about the future activities / collaborations / sponsorships. These were duly approved. The meeting ended with a vote of thanks to the Chair. LALIT BHASIN President