I am highly qualified but not in law. I am, however, very well versed in law and have a lot of experience in the U.S. and western countries in areas of law. I want to start a law firm along with some practicing advocates and want to retain some equity interest in the firm. Can someone recommend a way to do so? I am told that in India only a practicing advocate can hold equity in a law firm? If so, has anyone approached a High Court or Supreme Court to challenge this? I know that the challenge of a non-advocate to practice advocacy has been unsuccessful. This is a different situation. I do not want to practice law. I only want to hold equity in a firm that will specialize in offering legal services. Second, can a law firm also offer other services, such as accounting? Which Act or Rule restrains a "law firm"s activities in India?
Thanks
