Akhtar Imam & Associates

The firm: Founded in 1980, Akhtar Imam & Associates is one of the leading full service law firms in Bangladesh. Akhtar Imam, the founder and senior partner, is a senior advocate of the Supreme Court of Bangladesh and regarded as one of the best legal minds in Bangladesh. The firm is best known for its expertise in company and commercial law, litigation (civil, company and constitutional), domestic and international commercial arbitration, foreign investment, labour, employment, banking, finance and securities laws. The firm’s clients benefit from it’s extensive networks and industry knowledge acquired over 40 years. The partners have led landmark constitutional law cases of great national, historical and economic significance and high value mergers and acquisitions. They regularly drive law and policy reform through public interest litigation, advocacy and engagement with stakeholders, at all levels government, NGOs and the private sector, through participation in round tables, seminars, webinar and dialogues.

The firm’s impressive array of clients is testament to the high quality of legal services it has been providing over four decades. Over the years the firm has advised global giants like Visa Inc,  General Electric, Singer, British American Tobacco, Philip Van Heuson, Ernst & Young, UNDP and Marie Stopes International, among others. In Bangladesh, over the years the firm has advised the Bangladesh Bank (central bank of Bangladesh), Pubali Bank Limited (largest private commercial bank), the Department for International Development (DFID), Bangladesh,  Pran Group, Akij Group, Globe Pharmaceuticals Group Limited, large telecoms like Grameenphone, the national flag carrier, Biman Bangladesh Airlines, apex trade bodies, like the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and Dhaka Chambers of Commerce and Industry (DCCI), among others. 

Main areas of practice
 Foreign investment: The firm specializes in advising foreign companies on foreign exchange control, regulatory and tax matters, company formation, establishment and closure of branch, liaison and representative offices, registered office and directorial services, VAT, TIN, trade license, Import & Export Registration Certificate, permission from Bangladesh Investment Development Authority, work permit, etc. It advised Ernst & Young, India on closure of its branch office in Bangladesh, formation of a fully owned subsidiary company, all related foreign exchange control and regulatory matters. Recently, it advised an entity of Visa Inc. in establishing a liaison office in Bangladesh.

Corporate/commercial: The firm specializes in M&A (domestic and cross-border), JVs, re-structuring, corporate taxation, capitalizing businesses through debt and equity transactions, corporate governance, shareholder agreements, commercial contracts, company incorporation and company secretarial services. Its lawyers are leading experts on all aspects of company litigation: amendment of objects clauses, winding up, shareholder-management disputes, minority protection, rectification of share register, reduction of share capital and sanction of mergers. It recently advised Marico Bangladesh Limited on the implications of the latest Act amending the Companies Act 1994 and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) (the apex trade organisation in Bangladesh) on reform of the Companies Act 1994.

Banking, finance, microfinance and securities: The firm specializes in bank loan and security documentation, loan syndication, restructuring, dishonor of cheque and broad spectrum of banking litigation. It has extensive regulatory experience on payment systems regulations, mobile financial services, money laundering and terrorist financing prevention laws. It provides strategic guidance to leading financial institutions through board membership. It recently advised an entity of Visa Inc. on payment systems and mobile financial services and DFID, Bangladesh on the legal framework for establishment of a Credit Information Bureau for Microfinance in Bangladesh. The partners regularly represent the Bangladesh Bank and Pubali Bank (largest private commercial bank) before the Supreme Court.

Labour/employment: The firm advises on a broad range of labour/employment issues including regulatory compliance, employment contracts, disputes, profit-sharing schemes, employee share schemes, benefits, personal data protection, termination, redundancies, etc. Its lawyers regularly appear before the labour tribunals and the Supreme Court in labour disputes. During the covid-19 pandemic, it advised a broad spectrum of clients on legal modes of severance and termination benefits under the Labour Act 2006. The firm successfully defended Biman Bangladesh Airlines in judicial review proceedings filed by thousands of employees challenging its Voluntary Retirement Scheme (VRS) of US$50m. The firm has recently advised Millennium Bangla Limited and Millennium Group of Companies, a leading player in the automobile industry of Bangladesh, on various labour and employment law issues that arose during the Covid-19 pandemic, including but not limited to, the legal modes of severance of workers and benefits owed to workers under the Labour Act, 2006.

Arbitration: The firm regularly handles complex commercial arbitrations, domestic and international, under, among others, the ICC, IATA, UNCITRAL, GAFTA and FOSFA Rules and the Arbitration Act 2001 (Bangladesh). Its lawyers act as both counsel and arbitrator. It has extensive experience in handling litigation arising out of arbitration (for interim relief, enforcement of arbitral award, setting aside of arbitral awards and appointment of arbitrators). It is currently representing the GSA of Gulf Air in enforcement proceedings filed by Gulf Air to enforce an ICC award. The firm is also representing ABB India Limited, a leading engineering company, in an international commercial arbitration against Power Grid Company of Bangladesh Limited (a government owned sole electric power transmission company) for imposition of liquidated damages.

Litigation: The firm has leading expertise in company litigation, judicial review of decisions of public authorities (writ petitions), litigation arising out of arbitration, banking litigation and public interest litigation. The partners have acted as lead counsels and amicus curiae in landmark cases before the Supreme Court. Its lawyers regularly appear before the full range of courts and tribunals for local conglomerates, MNCs, Bangladesh Bank, large private banks, financial institutions, eminent businessmen, etc. It recently advised Facebook on potential litigation relating to the extent to which the operations of Facebook in Bangladesh may fall within regulatory purview. It has led landmark cases at the Supreme Court level to enforce health rights. The Partners have led public interest litigation before the Supreme Court that led to the formulation of Guidelines for Emergency Medical Services for Road Accident Victims and Protection of Good Samaritans and Guidelines for Prevention of Medically Unnecessary C-sections.

 Advertising laws: The firm advises companies on advertising laws, with special focus on tobacco products and fast moving consumer goods (FMCG). Recently, it advised Marico Bangladesh Limited, which is among the top three FMCG MNCs in Bangladesh, on advertising laws and consumer offers. It advised British American Tobacco Bangladesh on permissible scope of trade promotional activities.

 Anti-corruption and bribery: The firm regularly advises companies on anti-bribery laws in Bangladesh, including gifts, entertainment, hospitality, potential consequences of violations, etc. It advised Visa on the consistency of its internal anti-bribery policy with the laws of Bangladesh.

Education: The firm regularly advises private educational institutions including leading English medium schools following international curriculum on appropriate legal structure, registration, licensing, regulatory compliance, management disputes, day-to-day management issues, employment contracts, etc. It has successfully challenged the Government’s decision to shut down Lakehead Grammar School in judicial review proceedings before the Supreme Court.

Power: The firm has significant power regulatory expertise, regularly handles litigation challenging the decisions of the Bangladesh Energy Regulatory Commission (BERC) and makes representations to BERC on behalf of clients, drafts and negotiates complex EPC contracts, JVs on rental power projects, power purchase agreements and advices on licensing matters.

Telecommunications: The firm has significant telecom regulatory expertise, has advised a foreign company on proposed acquisition of passive telecom infrastructure of the second largest telecom company in Bangladesh, advised a local telecom company on acquisition of its shares by Egyptian telecom giant, Orascom, represented telecom clients in arbitrations arising out of complex contractual disputes, and in Supreme Court proceedings on frequency allocation disputes against the regulator.

Healthcare: The firm has unparalleled expertise on policies, laws, rules and regulations governing health care services in Bangladesh. The firm has led landmark cases at the Supreme Court level to enforce maternal health rights, and right of patients to emergency medical services. The partners have led a public interest litigation that led to a judgment proposing  reform of the Human Organ Donation and Transplantation Act 1999 to expand the pool of organ donors to address the huge gap between demand and supply of organs in Bangladesh.

 Hospitality: The firm has advised on all aspects of establishing and running a hotel, including drafting and negotiating hotel management contracts, construction management contracts, chain marketing agreements, gold passport agreements, trademark licence agreements, etc. The firm acted as retained advisers to Pan Pacific Sonargaon, the oldest five star hotel in Bangladesh, for over 20 years.

Insurance: The firm has significant insurance regulatory expertise and regularly represents insurance companies and insured persons in marine and shipping claims and litigation arising therefrom. The firm challenged, by way of judicial review, the vires of various sections of the Insurance Act on behalf of a leading insurance company, Delta Life Insurance, to remove categorisation of public and sponsor shares in Insurance companies as the Central Depository System, which requires shares to be converted into scrip-less/dematerialised form, does not allow recordation of categorised shares in demat form.