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‘DIRECT CENTRE, STATES TO ARRANGE LOANS UP TO RS 3 LAKHS FOR ADVOCATES’ : BAR COUNCIL OF INDIA MOVES SC

The Bar Council of India has filed a writ petition in the Supreme Court highlighting the financial difficulties faced by lawyers on account of the country wide lockdown.

Stating that BCI does not have the funds to help the lawyers in need, it has sought directions from the Central Government and all States/UTs to “arrange financial assistance by way of interest free loan of up to Rs. 3 lakhs each to advocates enrolled with the respective Bar Council of each State through the said Bar Council repayable in reasonable monthly instalments at least 12 months after normal court functioning commences”. The petition, filed through Advocate S N Bhat, also seeks a direction to Union of India and the respective State Governments to financially support the advocates through respective Bar Association.

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.