Eminent Jurist and former Finance Minister, P. Chidambaram, came in for rich praise from Hon’ble Chief Justice of India T. S. Thakur.
“Look at Mr Chidambaram. Has he stood up and tried to argue by raising his voice? No. Do you think he knows less than those lawyers who are always shouting?” the learned Chief Justice exclaimed in exasperation while hearing a batch of petitions challenging the demonetisation of currency.
Eminent lawyers are now charging fees of upto Rs. 1 lakh per hour according to a report in Bloomberg
A few months ago, we saw a report on the fees charged by eminent lawyers like Fali Nariman, Ram Jethmalani, Harish Salve, Soli Sorabjee, Mukul Rohatgi etc for the stellar work done by them in delivering justice to their clients.
Interestingly, the fees that these stalwarts charge (a couple of lakhs per hearing) is a pittance compared to the fees that their counterparts in London are able to command.
Eminent legal luminaries like Shri. S. E. Dastur, Shri. N. M. Ranka, Dr. K. Shivaram and others from across the Country have paid their tributes to late Shri. S. H. Kapadia, the former Chief Justice of India, for his stellar contribution to the development of law and justice
(1) Shri. Sohrab Erach Dastur, Sr. Advocate
1. Justice Kapadia was the first Chief Justice born in free and independent India (29th September, 1947). This corresponds to his approach in all judicial matters – free and independent in his thinking and in the pronouncement of judgments – not afraid to dissent where necessary. He was enrolled as an advocate of the High Court at Bombay at the age of 27 years, comparatively an old age for such enrolment, but this was because he had to support himself and his family by engaging himself in an employment prior to qualifying as an advocate. Even to educate himself and to go to college, he had to provide his own finance. He did not have a godfather in the profession. Mr. R. A. Gagrat, a fearless solicitor, who used to take on the most difficult cases – which others shied away from – appreciated lawyer Kapadia’s dedication to the profession and took interest in his progress. He later devilled in the Chambers of Mr. Feroze Damania, a leader in the field of labour law. Under his tutelage he developed as a very persuasive lawyer. As an advocate, he handled a variety of different types of litigations and was also a Counsel on the panel of tax lawyers of the Central Government in the High Court. He was meticulous in preparation of cases and was fair in presenting them.
While there were several facets to the personality of late Shri. S. H. Kapadia, the former Chief Justice of India, one unknown facet is his fascination for the AIFTP Journal and his affection towards the ITAT Bar Association. The late Jurist was also vocal in his insistence that members of the legal fraternity should put “Duty to the Country” above everything else
Much has been written about the personality of the late Shri. S. H. Kapadia. One inspiring aspect which captured the imagination of the members of the legal fraternity is how the late jurist powered his way from the position of a lowly clerk to the highest judicial office (see Chief Justice Kapadia: Inspiring Story Of Journey From Clerk To Chief Justice). Though there were several obstacles on the way, the late judge overpowered all of them to reach the pinnacle of success through sheer dint of hard work and perseverance.
Nani Palkhivala, the late eminent Jurist, used to mesmerize the audience with his eloquence. His annual lectures on the Union Budget used to be attended by thousands of people from all walks of society. The crowds were so large that the lectures were held at the Brabourne Stadium in Mumbai. For the benefit of everyone, and especially the younger generation who would have never had an opportunity of watching Nani Palhivala in person, the Forum of Free Enterprise has made some of his lectures available on youtube. The lectures are a must-watch for all professionals to understand the depth of Nani Palkhivala’s thinking and also the simplicity and clarity with which he made his points understandable to the audience.
Nokia India has got itself into a terrible mess over alleged failure to deduct TDS on royalty payments to its parent company. What would have ended with a mere 10% tax rate has now morphed into a horrendous tax liability. Nokia is now desperate to sell its assets but the Income-tax department has a strangle-hold over it and is calling all the shots. It will take all of Harish Salve’s wizardry to pull Nokia out from the deep hole it is in. Can he do it?
Anybody dealing with multinational conglomerates will tell you that their biggest problem is one of overconfidence and lack of accountability, especially when dealing with poverty-stricken third World countries. Deals worth billions of dollars are put through by some expatriate executive, high on adrenalin, sitting in an exotic location like New York, London or wherever, without a second’s thought for the legal and tax implications in the dusty by-lanes of the Third World Country where the deal is to be implemented.
The war for supremacy in the Vodafone transfer pricing controversy has thrown fascinating insights into the brilliant strategies adopted by two of the finest legal minds in the Country, Harish Salve and Mohan Parasaran. Mohan Parasaran has drawn first blood but Harish Salve has his foot firmly in the door. Will Mohan be able to dislodge him? At stake is Rs. 1400 crore
Mohan Parasaran, the wily Solicitor General, has the unenviable job of defending the indefensible. He knows that the weakest link in the department’s case is the merits. On the face of it, the department’s case is unbelievable. Vodafone allotted shares to its holding company as per the FDI norms at a premium of Rs. 8591 per share. The TPO claims that Vodafone should have allotted shares at a premium of Rs. 53,775 per share and that the difference (totaling Rs. 1308 crore) is assessable as income in Vodafone’s hands. How? When a company allots shares at a premium is the premium chargeable to tax as income in the issuer’s hands?
Fali Nariman’s autobiography “Before Memory Fades” deserves to be read and re-read because hidden in the fine print is some very valuable advice on the techniques that professionals should follow to improve their life and practice
“The race is over, but the work never is done while the power to work remains”
Sir Jamshedji Kanga in ‘The Law & Practice of Income-tax”
The first thing that strikes you when you look at Fali Nariman’s cover spread photo is how messy his desk is. It is not a very large desk. There are files and papers and books strewn all over it in an untidy manner. There is a simple wooden chair for Fali to sit on. Behind it is an open bookcase which is stuffed to the brim with law books. And each of those books wears a worn out look with the cover torn in many.
Nani Palkhivala continues to inspire generations of lawyers & CAs, even though several years have passed since he left for his heavenly abode. Though a genius, his success was largely due to sheer hard work and the ability to do ordinary things the proper way. Justice Shiavax Jal Vazifdar urges all professionals to live up to the high standards set by Palkhivala and aspire to reach the heights reached by him
The heights by great men, reached and kept, were not attained by sudden flight,
But they, while their companions slept were toiling upward in the night:
Henry Wadsworth Longfellow
Speaking at the 10th Nani Palkhivala Memorial National Tax Moot Court Competition, 2013, Justice Shiavax Jal Vazifdar of the Bombay High Court reminded the young audience about the magic of Nani Palkhivala and asked them to live by his high standards and work ethics.
The best way to learn law is to see the great masters at work. The way they study the facts, analyze the law and make their presentation to the Court can teach you more than you can ever hope to learn in a classroom. And the fees they charge can inspire you to do your best in the profession. Surprisingly, these great wizards of the law don’t have a magic wand. Instead, their secret recipe for success is sheer hard work and concentration
Lawyers across the World are amongst the most highly paid professionals. Indian lawyers are no exception. Apart from a 5 figure fee for one appearance, limousines to transport you, business class travel (chartered flights, if you are in the super-elite category) and five star accommodations (only VIP suites, if you are in the super-elite category) are de rigueur. Of course, there is no question that all of this is fully justified! So, lets’ get down to listing the top lawyers and see if we can get some inspiration from them.
