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The Legal and Financial Framework

The Legal and Financial Framework. Andrew Shipley Partner, Nelsons Solicitors. Overview . Big numbers Huge contrasts Eerily familiar Surprising differences. The Problem. 30 Million cases pending before the courts 11 Judges per million population

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The Legal and Financial Framework

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  1. The Legal and Financial Framework Andrew Shipley Partner, Nelsons Solicitors

  2. Overview • Big numbers • Huge contrasts • Eerily familiar • Surprising differences

  3. The Problem • 30 Million cases pending before the courts • 11 Judges per million population • Huge delays in resolving disputes in court a fact of business life

  4. Times article

  5. The solution • Jurisdiction outside of India • Domestic or International Arbitration • WRITTEN AGREEMENTS ESSENTIAL

  6. The Legal Profession • 850,000 lawyers • Highly regulated market • Advocates Solicitors Counsel • Courts a familiar feel

  7. Legal Firms in India • Smaller than UK • 20 partners maximum • Dominated by few individuals • Tend to be more generalist • Huge range of skills experience and outlook

  8. Rates • £50 to £300 per hour • Fixed prices for litigation • Or Rupees 30 at the court gate for all the documents !

  9. Find the right firm • Recommendations • The golden circle • Out of the big metros? • Networks • Partner contact • Are they interested in your work? • Choose someone that suits you.

  10. Highly regulated Take great care Protect your secrets Road mender 50p per day New qualified lawyer R5,000/£60 per month Call Centre R30,000 / £350 pm IIM graduate R625,000/£7300 pm Employment

  11. Attitudes to work • Regional differences? • Education • Training • Knowledge • Beware the talkers

  12. Land • A scarce resource • Surprising prices • Offices and presentation • Ownership

  13. Intellectual property • The single biggest mistake • Protection • The exception to the problems of enforcement through the courts

  14. Direct sales Agents Distributors Joint ventures RBI approval State, sector and local regulations Project Offices Liaison Offices Branch Offices Wholly owned subsidiary Share purchase Establishment

  15. Payment terms • Stage payments for capital items the norm • Established bonding system • Debt collection in country a problem • DRT and the alternatives • Trust? • Arbitration

  16. Corruption • An offence punishable in UK • A fact of business life in India • The suitcase culture

  17. Conclusion • Huge opportunities • Common sense precautions and proper prep • Written agreements • Don’t undervalue what you have • Trust the right people; you will need a guide • Brits uniquely placed • Great fun.

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