Highly noted legal luminaries gathered in the capital today for the inaugural of the 4-day Inter-Pacific Bar Association (IPBA) 2012 Annual Meet . The conference based on the theme of 'Legal trends, thoughts and times' will focus on contemporary legal trends and the future of the legal industry. The Meet which marks the 22^nd anniversary of IPBA was inaugurated by eminent personalities, Dr. Veerappa Moily, Minister for Corporate Affairs, Government of India and the renowned Justice Altamas Kabir, Senior-Most Puisne Judge, Supreme Court of India. Mr. Lalit Bhasin, President Elect, IPBA commented, 'We are proud to be the host country for the highly acclaimed IPBA. Over the years, IPBA has gained momentum and has helped in the development of the law and the legal systems. This conference is an excellent catalyst in bringing together the law fraternity to discuss in unison about the issues affecting us."The Association will also discuss and brainstorm on various issues of relevance to the practice of law in India like - Business in India - Life, Liberty and Law; Collaboration of APEC and IPBA; Legal trends and challenges confronted by women lawyers in the present times; Dispute resolution in mega construction contracts etc. to arrive at a balanced and rational conclusion on the 2^nd day of the conference. The penultimate and final day of the conference will witness a series of eloquent debates and discussions on 'The challenges of effective arbitration; Free trade agreements in Asia; Trade and developments in maritime law; Investments in dynamic economies in challenging times.'

Luthra & Luthra Law Offfices took the national award for India whilst Allen & Overy landed the international award in Singapore. Meanwhile Clifford Chance bagged the Asia-Pacific Law Firm of the Year and Baker & Mackenzie won the South-East Asia award. Outstanding Contribution awards went to William F Barron of Davis Polk & Wardwell and Shardul S Shroff at Amarchand & Mangaldas & Suresh A Shroff & Co. On Wednesday, 22nd February, 2012, Amarchand Mangaldas had won the International Law Office (ILO) Client Choice Awards 2012 for the 2nd year in a row, the firm was adjudged the 'exclusive winner' of the ILO overall award for India. The accolade was received at an awards ceremony held in London. International Financial Law Review (IFLR), for the 3rd consecutive year, had honoured Amarchand Mangaldas, as "The National Law firm of the Year, 2011-2012" on Thursday, 23rd February, 2012 in an awards ceremony held at Hongkong

Pearson VUE, the global leader in computer–based testing for academic, professional and licensure examinations, has announced the opening of registrations for the Law School Admission Test (LSAT)-India 2012. The test will be conducted on 5 May 2012 in major cities across the country. LSAT-India is a special version of the renowned LSAT ® which is conducted globally by the Law School Admission Council (LSAC). The test is specifically designed by the LSAC for admissions to Indian law colleges. It is a standardised test that assesses critical-thinking skills, logical-reasoning, problem-solving skills and traits that are needed for a successful career in law. Many of the country’s leading law colleges, such as Rajiv Gandhi School of Intellectual Property Law-Indian Institute of Technology Kharagpur and Jindal Global Law School-Sonipat, use LSAT-India scores as part of the admissions criteria for their law courses. Candidates can register for the 140-minute test at www.pearsonvueindia.com/lsatindia. Sandeep Dua, Vice President, Pearson VUE India, said: "We are excited by the response received for LSAT-India, with several law colleges expressing an interest in the test. Currently, over 40 Bar Council of India approved law colleges across the country have agreed to accept LSAT-India 2012 scores. We expect this number to grow significantly as we continue receiving college sign-up forms." With the experience of conducting successful testing in more than 150 countries, the announcement will allow Pearson VUE to bring its global standards of testing to the local market for the benefit of LSAT-India. Dan Bernstine, President LSAC USA, said: "The increasing number of law colleges which are accepting LSAT-India for admissions indicates that they understand the benefits of a standardized test. These law colleges understand the advantages of a test which measures essential skills for success in law education. We have received feedback that they are very happy with the calibre of students who come to them through the LSAT-India program."
Pearson VUE is providing candidates with the option to download a free sample test
from www.pearsonvueindia.com/lsatindia/test_prep.html. Candidates can also buy the Official LSAT-India Handbook at
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It was less than three years ago when Argus Partners was established as a firm with a vision to deliver the highest standards of services, and be the preferred law firm and trusted advisor of its clients.

Within a short span of time, with the support of our valuable clients, we have grown from strength to strength and established ourselves as one of the leading law firms in India. Argus Partners recently won the award for the 'New Law Firm of the Year - India' at the ACQ Global Awards, 2010 and the award for the 'Best Newcomer' at the India Business Law Journal's 2010 India Law Firm Awards. We have also been recognised as a leading firm by Legal 500 Asia Pacific 2012's editorial. As the Firm celebrates its third year, it has now joined hands with the experienced and well known law firm Udwadia & Udeshi to form Udwadia, Udeshi & Argus Partners. The merged Firm with 12 partners will be a full service law firm having offices in Mumbai, Delhi, Kolkata, Bangalore and Chennai. Udwadia & Udeshi was established in 1997 by Mr. Darius Udwadia and Mr. Dilip Udeshi, after they retired as partners from Crawford Bailey. Mr. Udeshi and Mr. Udwadia have respectively completed more than 50 years and 48 years in the profession having created for themselves and their firm a formidable reputation and legal standing. In addition to strengthening existing practice areas such as general corporate, M&A, private equity, infrastructure, banking & finance, project finance and disputes, the combined Firm will be focusing on developing its capital market practice and emerging practice areas such as competition, education, renewable energy, and succession & estate planning. The merger will become effective from April 1, 2012 and Argus Partner’s present Managing Partner Krishanava Dutt shall assume responsibility as the Managing Partner of the combined Firm.

The Panel Discussion of the 13^th D. M. Harish Memorial Government Law College International Moot Court Competition, held on 10th February 2010 at the Sahyadri State Guest House was a grand success. The esteemed panelists for the evening were Honorable Mr. Justice B. N. Srikrishna; Mr. V. Sridharan, senior advocate and co-founder of the tax firm Lakshmi Kumaran and Sridharan (LNS); Mr. Dinesh Kanabar, Deputy Chief Executive Officer and Chairman Tax for KPMG’s operations in India; Ms. Sucheta Dalal, an award winning business journalist and author; Mrs. Meera Sanyal, Chairperson and Country Executive for Royal Bank of Scotland Group (RBS Group) in India; Mr. Satish Rajgharia, Joint President of the Aditya Birla Management Corporation Private Limited and Ms. Bijal Ajinkya, Head of International Tax Litigation and the International Estate and Succession Management practice at Nishith Desai Associates. The discussion was extremely enthralling and intellectually stimulating, the topic being "Whether tax havens, double taxation avoidance agreements and voluntary disclosure schemes are a boon to the global economy". The audience participated as well by putting forward their questions to the esteemed panelists. An audience member rhetorically asked, “Why doesn’t India become a tax haven so that Indian as well as foreign money comes to India?" To this Justice Srikrishna tactfully counter questioned, " Why don't you nationalize corruption and it can be taxed legitimately!” Several questions were raised which the panelists addressed with their expertise, quoting several authorities. All in all the discussion was well attended and gave an opportunity to the students as well as dignitaries present to experience a heated but constructive debate. The final round of the 13^th D. M. Harish Memorial Government Law College International Moot Court Competition, 2012 was held at Convocation hall, Mumbai University on 12^th February 2012 after four days of vigorous competition among 28 national and international teams. The two teams, Bond University, Australia and University of Southampton, UK that qualified for the finals were judged by a bench of five sitting judges of the Bombay High Court - Honorable Dr. Mr. Justice D.Y. Chandrachud, Honorable Mr. Justice A .A. Godbole, Honorable Mr. Justice M. S. Sanklecha and Honorable Mr. Justice R. D. Dhanuka. The two teams argued on topics of taxation relying on international law. The event was an interesting exchange of great research and intelligent arguments. The event was concluded by an eloquent valedictory speech by Justice Chandrachud who called the Sunday evening well worth its time. The winning team was Bond University, Australia.

The case against GGL dates back to April 2008, when the erstwhile MRTP Commission, took suo moto cognizance of an article published in The Outlook Business on 16-19th April, 2008 edition. Subsequently, the matter was transferred to the Competition Commission of India (CCI) under Section 66(6) of the Competition Act, 2002 after the MRTP Act, 1969 was repealed. The article had stated that the ‘Float Glass’ market in India is nothing but an oligopoly, comprising of three big float glass manufacturers, i.e., Saint Gobain Glass India Limited, Asahi Glass India Limited and GGL. It was alleged that these three manufacturers acted in a concerted manner to fix prices and control supply of float glass in the market. Upon transfer, the CCI formed a prima facie opinion and directed the Office of the Director General, Competition Commission of India (DG) to conduct an investigation. During the course of the proceedings, the DG conducted thorough investigation and summoned personnel for recording their statements on oath for want of evidence and thereafter filed two reports, both of which concluded that no case of cartelisation is made out in the matter for the period under investigation. The CCI, by way of its Order dated January 24, 2012 has held that there is no reason to disagree with the findings of the DG that no case of violations of the provisions of Section 3 is made out in the matter for the period under investigation and the proceedings deserve to be closed forthwith. Mr. Bobby Chandhoke and Mr. G.R. Bhatia led the team consisting of Ms. Moushami Joshi, Mr. Abdullah Hussain, Mr. Ravisekhar Nair, Ms. Kanika Chaudhary and Mr. Vardhan Tulsian.

Amarchand Mangaldas, for the first time ever, has orchestrated the pre-moot qualifying chapter of the 5^th Frankfurt International Moot, on February 9^th at their New Delhi office premises. The Frankfurt Investment Arbitration Moot Court has contestants from a wide selection of law schools from across the world. The structure of this competition involves a dispute ("Case-Study") arising out of international investment protection law and provisions of a Bilateral Investment Treaty (BIT). The case study for the qualification round concerned the ‘Agreement on the Promotion and Protection of Investments between Athens and The Bosporan Kingdom’.An expert Arbitration panel of 4 lawyers at Amarchand Mangaldas heard the arguments and counter-arguments of all participating teams in a daylong event and then finalised the six teams that qualified to compete and represent India at Frankfurt. This is a first of its kind for Amarchand Mangaldas to host any foreign Moot Court Competition, qualification round for India. In 2011, 6 teams from India participated and the level of interest was significant again this year. This international student competition focuses on investment protection disputes. The students present their arguments orally before the expert tribunals comprised of investment treaty specialists. The final chapter of the Moot Court (2011/2012) will be held from 12 to 16 March 2012. The moot court final will take place at the premises of the Frankfurt am Main Chamber of Commerce and Industry. The Frankfurt am Main Chamber of Commerce and Industry and the DIS are joint venture partners of the Frankfurt International Arbitration Center (FIAC). Further details about the competition can be found on www.investmentmoot.org.

The 22^nd edition of Inter-Pacific Bar Association (IPBA) is all set for a great run from February 29 - March 03, 2012 at Taj Palace Hotel, New Delhi. The Conference Inaugural will be graced by the distinguished presence of Hon. Chief Justice of India, Hon. Minister of Law and Justice, Government of India and Hon. Minister for Corporate Affairs, Government of India, and culminate with the Annual General Meeting followed by Valedictory Session. Mr. Lalit Bhasin, President Elect, IPBA, says, "The theme of this year, 'Legal Trends, Thoughts and Times', aptly focuses on the opportunities and challenges that lawyers across the world face in contemporary times. With four days of informative business sessions and interactions with renowned experts, the conference is aimed at enriching the professional and business lives of lawyers. IPBA continues to keep our members abreast of transformations in the law and the practice of law in this region, and what we might be able to foresee in the coming years as a result of changes in our larger societal environments. The IPBA's 2012 Annual Meeting And Conference in New Delhi promises to be a very significant event and I look forward to seeing all Indian lawyers there." IPBA specifically focuses on business law. The Association appoints committees which, either separately or jointly, hold working sessions on the most crucial and topical issues. The IPBA helps lawyers to keep abreast of the business and commercial aspects of legal developments that affect their clients. Equally important, the IPBA creates premium opportunities for business and commercial lawyers throughout the region to network with their peers in a conducive and synergetic environment.

IPBA has grown to become a preeminent legal association in this Region, with membership drawn from throughout the world, and currently has over 1,800 members from over 65 national jurisdictions worldwide. For more information visit http://www.ipba2012.org

The American Bar Association Section of International Law organized the "U.S. and India: Key Legal Aspects of Cross Border Business" over the weekend of January 19 to 22, 2012. Hon. Sanjay Tailor, Judge of the Circuit Court of Cook County, Chicago, Illinois and Ms. Priti Suri, proprietor of Priti Suri & Associates welcomed the delegates in the elegant ballrooms of Taj Lands End, Mumbai, India. Mr. Peter Haas, U.S. Consul General in Bombay and Mr. Darius Khambatta, Additional Solicitor General, Government of India paved the way for the intellectually stimulating sessions with the opening address. The conference highlighted the remarkable growth and evolution of the Indian economy, despite western nations being mired in recession and debt crisis. Members of the international legal fraternity with leaders of the U.S. and Indian Business communities explored the significance of India rapidly becoming a major economic player and one of the key markets in the world as well as a significant trading partner for the U.S. The ^20th of January 2012 witnessed eminent speakers and leading jurists including Mr. Cyril Shroff, Amarchand Mangaldas & Suresh A. Shroff; Mrs. Zia Mody, AZB & Partners; Mr. Somasekhar Sundaresan, J Sagar & Associates; Mr. Anand Desai, DSK Legal; officers of RBI, SEBI and CCI; and Mr. Rafiq Dada, Senior Advocate, Bombay High Court; as well as Mr. Erik Wulff and Mr. JP Duffy, DLA Piper; Mr. Adam Farlow, Baker & McKenzie, Mr. Shikhil Suri and Mr. Baiju Vasani, Crowell & Moring; Ms. Susan Cohen, Mintz Levin; Ralph Voltmer, Covington & Burling; Mr. Stephen Besen, Shearman & Sterling; Mr. Hans-Michael Giesen, GORG Law Firm; to name a few. Sessions on topics such as Investments, Acquisitions, Joint Ventures, Distribution in the U.S. by Indian Companies, and in India by U.S. Companies; ADR - Focus on Commercial Transaction Disputes, Popular Jurisdictions, Enforcement Issues; and Lawyer's Professional Responsibilities and Ethics were highly informative and well received with practical advice, critical challenges and the opportunities available due to the globalization of the profession and the international practice of law.

Mr. Shardul Shroff and Mr. Aseem Chawla, Amarchand Mangaldas & Suresh A. Shroff; Mr. Jyoti Sagar, J Sagar & Associates; Mr. Rajiv Luthra, Luthra & Luthra; Mr. Prashant Deshpande, Deloitte Haskins and Sells; and Mr. K.K. Venugopal, Senior Advocate, Supreme Court of India; along with Aaron Schildhaus, Law Offices of Aaron Schildhaus; Ms. Amy Stanley Hariani, US-India Business Council; and Mr. J. Michael Taylor, King & Spalding; among others, in interactive sessions on January 21, 2012 discussed Tax and Regulatory Challenges, Investing in India's Infrastructure Projects; Creating a Corruption-Free Environment for Business; Dealing with IPR; U.S. and India Law Firm Co-operation. These sessions focused on policy changes in the field of taxation to provide a transparent, vibrant and effective tax regime, the issues that arise while importing and exporting, the lacunae in legal and statutory framework in IP laws in the country and the need to harmonize Indian law and practice with global standards. The program was aptly summed up and brought to a close by Mr. Erik Wulff, DLA Piper; Ms. Priti Suri, Priti Suri & Associates; and Ms. Jane Schukoske, Global Alliance for Justice Education with the imposing architecture of the Taj adding to the comprehensive conference experience. India Law Journal was proud to be associated with the conference as one of the media sponsors and Shyamalene S. who is ILJ’s Mumbai based assistant editor represented ILJ at the event.

The GNLU International Moot Court Competition (GIMC), the fourth edition of which will be held from February 8^th to February 12^th this year, is a standout example of Gujarat National Law University’s commitment to promoting excellence in the field of legal education in the country. Over the previous three editions, GIMC has already built up a stellar reputation as one of the leading international moot court competitions in the Indian Sub-continent. This year the organisers of GIMC hope to conduct one of South Asia’s biggest legal events and are definitely on track with confirmed participation of top law schools from India, the United States of America, Sri Lanka and Nepal. The previous edition’s winner, George Washington University from the USA, return to participate in this year’s event and will face a strong challenge from the cream of Indian law schools with the likes of NLSIU, NALSAR, NUJS, NLIU, Symbiosis, ILS and GLC all looking to put forward a good performance. A total of 37 teams are confirmed participants for this year’s event and the organisers are hopeful of hosting a blue-ribbon moot court competition. The moot court problem for GIMC 2012 seeks to test the legal acumen of the participants in some of the significantly evolving areas of law. While GIMC moot problems have tended to focus on matters of international trade law, however this edition’s problem also incorporates aspects of evolving intellectual property rights issues as well as sports law in addition to the trade law. The judges for GIMC 2012 include distinguished members of the judiciary, reputed lawyers and notable academicians. Some of India’s brightest young legal luminaries as well as some of their older and more experienced counterparts will form a part of the GIMC judging panel. The panel also includes notable academicians from abroad such as Krista Nadakavukaren, a professor of international law at the University of Basel and a researcher at the World Trade Institute. Dr. Luther Rangreji, Legal Officer in the Legal and Treaties Division, Ministry of External Affairs, Rajshekhar Rao, one of the youngest Senior Advocates at the Delhi High Court, and Deepto Roy, partner at PXV Law Partners, are some of the notable Indian judges at GIMC 2012. The judges for the final include Mrs. V.L. Joshi (Add. Secretary, Ministry of Commerce), V.Lakshmi Kumaran (Founder and Managing Partner, Lakshmi Kumaran & Sridharan), Mitsuo Matsushita (Professor of Law, Seikei University, Tokyo), Shishir Priyadarshi (Director, WTO Geneva) and Dr Rafael Leal-Arcas (Senior Research Fellow at the World Trade Institute).

Corporate law Adviser (CLA) is a fortnightly journal on Corporate / SEBI and Business Laws has announced its subscription rates as Rs 5400/- (Rupees Five thousand and Four Hundred only) for the year 2012 (Jan - Dec). "Corporate Law Adviser" is amongst the oldest print journal on the subject since 1989. The journal which contain Case Laws, Legislations, Articles, Queries and Replies is being subscribed by Law firms, Colleges, Advocates, Company Secretaries, Chartered Accountants , students persuing Corporate and Business laws, Corporate houses etc. More details available at http://www.claonline.in/aboutjournal.aspx where there is also an option of subscribing Online. CLA has announced a special package for the year 2012 under which with every subscription of the print journal the subscriber would also be entitled to get a 3 month subscription of its Online e-Library "CLAonline" which is an Online legal database on Corporate / SEBI and Business Laws since 1950.The regular annual subscription of "CLAonline" for a period of 12 months is Rs 16000/- (Rupees sixteen thousand only). More details of CLAonline available at http://www.claonline.in/claonline.aspx

NLU Delhi hosted the first CDR-NLUD International Moot Court Competition, which saw participation from thirteen students from law schools in Islamabad, Karachi, Lahore and Balochistan and eight law schools in India including teams from Srinagar. The moot is an initiative taken by Centre for Dialogue and Reconciliation (CDR) after Prof. Madhav Menon recommended it last year during a conference which was attended by lawyers from India and Pakistan. The moot saw teams battle out for two days with Balochistan University defeating Amity Law School in the finals. There were two different moot problems, one for the preliminary and quarter –final rounds and the second for the semi-final and final rounds. The contest sought to encourage law students of the both nations to transcend their respective national discourses and identify the issues involved under the constitutions of India, Pakistan, and the two sides of Jammu and Kashmir.

In a recent ruling in the matter of Neo Sports Broadcast Private Limited, the Mumbai Bench of the Income Tax Appellate Tribunal held that payment made to a non-resident, in lieu of the right to broadcast live feed of cricket matches played outside India, does not amount to 'royalty’ under the Income Tax Act, 1961. Further, the ITAT also held that the mere right of a person residing in India, to broadcast live feed of matches received from a person outside India, does not constitute an Indian ‘business connection’ of a non-resident under the ITA and hence there is no requirement of withholding tax on consideration paid for such live feed.

The pharma and healthcare sector in India has been benefiting from 100% Foreign Direct Investment (FDI) under the automatic route i.e., without the need for approval of the Foreign Investment Promotion Board (FIPB). In recent times, however, certain ministries and Non-Governmental Organizations have recommended restricting FDI to 49% in Indian companies. This recommendation arose as a result of some acquisitions of Indian pharma companies (including generic companies) by foreign pharma companies. It was felt that such acquisitions would lead to a significant rise in the cost of the drugs in India. Further, it was felt that if most of the generic companies are acquired by foreign companies, the option of compulsory licensing available under the Indian Patents Act, 1970 may not be availed by such companies.