Prohibition on new liaison offices of foreign law firms continues; existing permissions may remain pending policy review. RBI shall not grant fresh permission or renewals for Liaison Offices of foreign law firms following the Supreme Court's interim orders; existing permissions granted before those orders may continue if still in force. This prohibition remains until the policy is reviewed, including in light of the final disposal of the Supreme Court matter. Category I Authorised Dealer banks must notify their constituents, and the directions are issued within the Foreign Exchange Management Act framework and without prejudice to other legal permissions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Prohibition on new liaison offices of foreign law firms continues; existing permissions may remain pending policy review.
RBI shall not grant fresh permission or renewals for Liaison Offices of foreign law firms following the Supreme Court's interim orders; existing permissions granted before those orders may continue if still in force. This prohibition remains until the policy is reviewed, including in light of the final disposal of the Supreme Court matter. Category I Authorised Dealer banks must notify their constituents, and the directions are issued within the Foreign Exchange Management Act framework and without prejudice to other legal permissions.
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