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Issues: (i) whether the Reserve Bank of India could grant permission to foreign law firms to open liaison offices in India under section 29 of the Foreign Exchange Regulation Act, 1973; (ii) whether the expression "to practice the profession of law" under section 29 of the Advocates Act, 1961 includes both litigious and non-litigious practice.
Issue (i): whether the Reserve Bank of India could grant permission to foreign law firms to open liaison offices in India under section 29 of the Foreign Exchange Regulation Act, 1973.
Analysis: The order issued an express clarification restraining the Reserve Bank of India from granting permission to foreign law firms to open liaison offices in India under the cited provision.
Conclusion: The clarification was issued against such permission.
Issue (ii): whether the expression "to practice the profession of law" under section 29 of the Advocates Act, 1961 includes both litigious and non-litigious practice.
Analysis: The order expressly clarified that the expression covers persons practicing litigious as well as non-litigious matters, other than the category excluded in the impugned order, and that foreign law firms practicing non-litigious matters in India must follow the Advocates Act, 1961.
Conclusion: The expression was held to extend to both litigious and non-litigious practice, subject to the stated exclusion.
Final Conclusion: The order granted interim clarificatory relief restraining permission to foreign law firms for liaison offices and affirmed that foreign firms engaged in non-litigious practice in India remain subject to the Advocates Act, 1961.
Ratio Decidendi: Where the Court issues an express clarificatory direction pending further proceedings, the clarification itself constitutes the operative determination on the questions addressed, and the statutory expression "practice of the profession of law" may be read to encompass both litigious and non-litigious practice unless expressly excluded.
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