Finance ministry shortlists global law firms to represent India in arbitration
A final decision will be taken only after the financial bids are analyzed by the department of economic affairs
New Delhi: The finance ministry has short-listed as many as 12 international law firms, including Amold & Porter LLP and Volterra Fietta, to represent India in international arbitrations or disputes.
The short-listing has been done on the basis of technical bids of these firms and a final decision will be taken only after the financial bids of these law firms are analyzed by the department of economic affairs.
The other legal firms who have made it to the list include Cabinet Joubin Bret, Dubai-based Clyde & Co, Debevoise & Plimpton LLP, DLA Piper France LLP, Fietta International Law, Foley Hoag LLP, J Cameron Mowatt Law Corporation, Lalive, Switzerland, Paris-based Mayer Brown, and Omnia Strategy LLP.
The selected legal firms will represent India in arbitrations or disputes under bilateral investment treaties (BITs) and/or investment chapters of free trade agreement/comprehensive economic partnership agreements/comprehensive economic cooperation agreements.
In January, the finance ministry had decided to empanel international law firms to represent India in disputes, including arbitrations, under its investment and trade agreements. The scope of work for the law firms will include assessing and advising the government on legal issues related to arbitration proceedings under Indian BITs and prepare a strategy for representing India.
BITs allow settling disputes between an investor and the host government as well as between two governments. Global MNCs like Cairn Energy and Vodafone have invoked BIT and served arbitration notice to India over tax disputes. While the tax demand on Cairn Energy is Rs10,247 crore, that on Vodafone is Rs14,200 crore.
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Business NewsPoliticsPolicyFinance ministry shortlists global law firms to represent India in arbitration
First Published:1 Nov 2016, 09:24 PM IST
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