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J. Sagar Associates has today opened an office at the Gujarat International Finance Tec-City (GIFT), becoming the first law firm in India to open an office at the smart city.
Setting up this office would help JSA consolidate their Financial Services Practice, according to the firm release.
The office was today inaugurated by Sudhir Mankad – Chairman of GIFT IFSC, along with CEO Ajay Pandey.
“We welcome J. Sagar Associates to the GIFT IFSC family. With the increase in number of businesses, the opening of law firm offices will facilitate the entry of domestic and international institutions.”
Nitin Potdar, senior M&A partner at the Mumbai office, will spearhead the office. Potdar has been instrumental in drafting crucial amendments to the Companies Act 2013 for ease of doing business in GIFT IFSC.
“JSA is proud to be part of the visionary project of our Prime Minister Shri Narendra Modi that would truly place India on the global map.”
Joint Managing Partners Dina Wadia and Shivpriya Nanda said,
“The firm is truly excited at the prospect of our growing Western India presence augmenting JSA’s existing presence which includes offices in Mumbai and Ahmedabad.”
Senior Partner Amit Kapur commented,
“GIFT city office underpins the firm’s strategy of establishing its presence in emerging growth markets.”
With Prime Minister Narendra Modi’s recent move to set the entry of foreign law firms in motion, we could well see a few international firms joining JSA at GIFT. As part of the first phase of liberalisation, foreign law firms would be allowed to set up shop at SEZs like GIFT.
Earlier this year, the government had amended a rule allowing foreign law firms and accountancy firms to advise clients from SEZs.
The Singapore International Arbitration Centre (SIAC) has also recently opened its second office in India at the smart city . This is pursuant to the Memorandum of Agreement entered into between SIAC and GIFT.