mARCH 2012 www.lawyer-monthly.com World Report - Asia & Australasia 9

Amarchand Mangaldas Partner Honored

Mr. Shardul Shroff, the Managing Partner of India’s largest law firm Amarchand Mangaldas was recently awarded for his ‘Outstanding Contribution to the field of Law’, by Chambers and Partners, at The Chambers Asia-Pacific Awards 2012, in association with Lex Mundi, the world’s leading association of independent law firms, where Amarchand Mangaldas is an exclusive member for India. As a corporate attorney for over 30 years, Mr. Shroff, has a repute of the highest regard and considered a legend in the legal arena. He has also been the recipient of National Law Day Award from the President of India for his ‘Unique Contribution to the field of Corporate Law’.

On Wednesday, 22nd February,

2012, Amarchand Mangaldas 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, has honored Amarchand Mangaldas, as “The National Law firm of the Year, 2011-2012” on Thursday, 23rd February, 2012 in an awards ceremony held in Hong Kong.

Mr. Shroff also serves on a number of

committee of the Confederation of Indian Industries (CII) and the Federation of Indian Chambers of Commerce and Industry (FICCI). He is well known for his representation of public sector undertakings and work with the Government of India and its various government agencies. He is presently a member of the CII National Council on Corporate Governance & Regulatory Affairs 2011-12, CII Task Force on Integrity & Transparency in Governance and CII National Committee on Dispute Resolution - Centre for Mediation and Conciliation.

He is also the Chairman of CII

National Committee on Legal Services for 2011-12 and the Associate President of Society of Indian Law Firms (SILF). Mr. Shroff is also on the panel of Indian Institute of Corporate Affairs (IICA) for the subject related to Competition Law. He is also a director on the boards of several leading companies in India including Ashok Leyland Limited, Hindustan Media Ventures Limited, Jindal Power Limited, Jubilant Life Sciences Limited and Visa Power Limited. He is also a part of the advisory board on the National Law School of India University, Bengaluru and National Law University of Jodhpur.

Indian Government pushing new Companies Act

A new companies act is looking more likely to be passed in the Indian parliament, according to the Corporate Affairs Minister, M. Veerappa Moily, replacing the existing companies act that is nearly 60 years old.

Moily said recently that the

government is eager to get the Act signed in a bid to clamp down on unfair business practices in India, saying that it will also contribute to a better system of Indian corporate governance.

According to Indian news site,

Daijiworld, the minister said that the new companies act will ‘revolutionize corporate business in India’.

He added: "I am looking ahead for a

better corporate sector in India and I am trying my best to get the new companies act passed in parliament."

The bill will give more power to

shareholders and will give stricter standards of approval by them over decisions related to management issues.

Appleby to expand into mainland china

The new office, due to open on 2nd April 2012, will deliver fully integrated fiduciary and administration services and operate in tandem with the firm’s Hong Kong office, which has serviced Appleby’s local and international clients in Asia for over 20 years. Appleby’s Global Group Managing Partner, Michael O’Connell said: “As a business we feel that mainland China presents significant opportunities for us and for our clients. We already have a solid base in Hong Kong and we are keen to build on this. “We have over two decades of

experience of operating in Asia. It is a well trodden path for us. This tells us that the key to being successful in China lies in winning confidence and building solid relationships with our clients there. Having a physical presence near these clients is key to the next stage of our development. We are skilled at navigating the business environment in China, and recognise the need to take an intelligent and sophisticated approach to expanding our operations into the PRC. "We have chosen Shanghai because it

is the commercial and financial centre of mainland China. We already have a track record in other major international financial centres, and we feel that having a presence in Shanghai makes commercial sense. “Our strategy is to focus on offering

fiduciary and administration services from this base. We feel there is a genuine need for these services in the PRC given the economic environment there. Should it become appropriate to do so, we will of course consider offering our clients a broader range of services from there.”