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Legal Fee Squeeze
Business Today
|February 24, 2019
Sectoral growth has not translated into growth in fees paid for professional and legal services.
INDIA INC. WITNESSED the slowest growth in professional and legal fees in fiscal 2017/18, thanks to greater competition among professional firms.
Corporate India’s professional and legal expenses continue to increase, but at a decelerated pace— growing at just 2 per cent in 2017/18, the slowest over five years. An analysis of 358 companies of the BSE 500 using Ace Equity database reveals curious details. In the five-year period, these costs more than doubled from 11,198 crore in 2013/14 to 23,625 crore in 2017/18. Professional and legal fees include expenses such as auditor’s remuneration, licences fees, and fees to external consultants.
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