An inter-ministerial panel met on Friday to select law firms to help India defend charges of violation of BIPA (Bilateral Investment Promotion And Protection Agreements) leveled by international investors, reports CNBC-TV18's Rituparna Bhuyan.
The meeting was called because five international companies related to the telecom sector have sent notices to the Indian government regarding violation of BIPA-related norms. In four of the cases, the six month notice period has lapsed.
The companies who have sent notices to the Indian government include Telenor, Systema, Kaif Investments, Capital Global and Axiata. According to the law, the companies have the option to drag India into an international arbitration if the six-month notice period lapses. So, the government does not want to take any chances.
Today a panel of government officers met five of the top legal firms in the country to select a panel of around two-to-three law firms to advise the government or represent India at an international court of arbitration.
So by next week, it will be clear which law firm or firms will be selected to represent India in case the Indian government is dragged to an international court for arbitration on BIPA-related issues.
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