This month, India Law Journal’s Founder Dirctor, Vikrant Pachnanda spoke to Mr. Rajiv K. Luthra, Founder & Managing Partner, Luthra & Luthra Law Offices and discussed with him his views on various topical issues which are being currently being debated about in the legal services sector in India.

Ques: Firstly, I would like to congratulate you for getting the best Indian Law Firm of the Year Award by the recently concluded Asialaw Awards. Recently the Bar Council of India informed the Supreme Court that it had relaxed its rules and has now decided to allow advertising their services on the internet keeping in view, the changing global scenario. What are your views on this and do you think that it is high time that legal advertisements should now be allowed in all forms

Ans: Thank you. In my view, the format that the Bar Council has given is very onerous. The information which firms are allowed to advertise is very inadequate. You are not allowed to advertise your clients or the services offered by the firm. There are a lot of procedural hassles as well like designing the website and then taking approval from the concerned authorities. Regarding if it is high time that legal advertisements in all forms should be allowed, I feel that the legal profession is a very noble profession and we don't need to open our legal services sector to advertise our services as it is in very poor taste.

Ques: What are your views on the Companies Bill, 2008 which was recently cleared by the union government?

Ans: I have examined the previous two bills but have not examined this one and will only do so once the bill gets converted to an act and the new amended Companies Act gets passed.

Ques: One of the biggest challenges faced by a law firm is client retention. What are your views on that?

Ans: As far as client retention is concerned, that is not a very big concern if you provide good quality services and maintain a good relation with your client. Another important thing is that the turnaround time should be timely and reasonable. Billing is not a concern if you provide good value for money services and do not overcharge.

Ques: If the Indian legal service sector opens its doors to foreign law firms, how would you like to position yourself?

Ans: In my view, I would like to stand alone and not merge with any foreign law firm. But then again this depends on the market factors existing at that point of time and also on what the firm wants keeping in mind the benefit of the firms and its employees.

Ques: The LLP Bill was formulated in 2006 but nothing really has happened after that. Don't you think that it is high time that law related to limited liability partnership be implemented in India keeping in mind that most of the top foreign law firms in the world who are eagerly waiting to enter India are in the form of LLPs?

Ans: Seeing the LLP Bill, it does look like it will be made into law very soon but there are fundamental flaws in it. Conversion from a partnership to a limited liability partnership would result in capital gains tax as per Indian tax law which will be difficult for firms to pay.