Osborne Clarke seals Indian best friend agreement
Osborne Clarke (OC) has made a move into the Indian legal market signing an alliance agreement with new local firm BTG Legal.
November 03, 2014 at 05:32 AM
2 minute read
Osborne Clarke (OC) has made a move into the Indian legal market signing an alliance agreement with new local firm BTG Legal.
Former India group co-head Prashant Mara, who worked at OC from 2009 until February this year, is leading BTG Legal.
OC's UK head of India James Mullock said that the referral relationship is not exclusive, which puts it in line with local regulations that allow firms to provide legal advice but bar them from opening offices of their own.
The two firms have already jointly acted on matters for clients including Facebook, First Solar, TRUMPF, Aveva, Investec and Cartelis.
OC chief executive Simon Beswick said: "Together, Osborne Clarke and our Indian law firm colleagues provide seamless advice to clients operating in India, looking to invest in India or entering the Indian market for the first time. Equally, we assist Indian clients operating or looking to invest outside India.
"Over the next few months we will be looking to broaden our Asian offering and build our international practice in the continent."
Firms attempting to develop a presence in India have encountered a number of setbacks in recent years. Those calling time on their local best friend relationships include Allen & Overy, which ended its agreement with Trilegal in 2012, and Clifford Chance, which separated from AZB & Partners in 2011.
The decisions came on the back of indications that the Indian legal market was not going to open up to foreign law firms in the near future.
However other deals appear to have remained intact, including Linklaters' association with Mumbai firm Talwar Thakore & Associates and Ashurst's arrangement with Indian Law Partners.
The news comes after Amarchand & Mangaldas & Suresh A Shroff & Co co-head Shardul Shroff outlined plans to launch its first international office.
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