Author: SuperLawyerTeam

This interview has been published by Namrata Singh and The SuperLawyer Team

Hello and welcome to the new episode of the SuperLawyer YouTube channel. Today we have with us Sumit Garg sir, who’s the founder of Alpha Corporate Legal and an experienced lawyer with a qualified CS degree, with a demonstrated history of working in the legal service industry for over 18 years now. He is skilled in matters related to mergers and acquisitions, corporate governance, SEBI, NBFC, regulatory and white-collar crime matters.

Welcome, sir. And thank you so much for agreeing to be with us here. it’s an honour. Thank you so much, sir.

Thank you, Divya. It’s a pleasure for me to get an opportunity to come on this platform and share my experience with budding professionals and fellow professionals as well because I believe that encouraging someone in turn encourages yourself. So, thank you so much for this opportunity. Let’s take it forward and I’m looking forward to an engaging session. Which I believe will add value to the budding professionals and my fellow professionals.

Rightfully said, sir. Thank you so much.  Let’s start with the very first question when did you decide to pursue law or why did you decide to pursue law?  Even better, who inspired you to pursue law and what challenges did you face during the initial stages of your career? How was your journey? Please do share your experience.

So, Divya, to answer that question, first of all, I never aspired to be a lawyer.

I originally aimed to become a company secretary (CS) of a listed company. The inspiration for that came when I was in 12th grade, reading a newspaper. I’m from Meerut, and at that time, the trend was to read newspapers regularly. Being in 12th grade, I was more conscious about which stream I should choose.

I had taken commerce in 11th grade, so I knew I was heading into the commerce field, but I was still confused about whether to pursue CA, CS, ICWA, MBA, or something else. Especially in my situation, where no one in my family or extended family was a lawyer—everyone was either an engineer, businessman, or MBA, managing their own businesses. There was no one to guide me, or perhaps, I didn’t seek out guidance actively.

Then one Sunday, I picked up the newspaper and in the career section of Dainik Jagran, I read about the role of a company secretary. It explained what a CS does, how they function within a company, and the one thing that really resonated with me was the fact that in a listed company, there’s only one CS, who works closely with top management, assisting the company in every business decision—compliance with laws, disclosures, governance, and feasibility.

That aspect of being a key decision-maker in the company attracted me to CS as a career. Later that evening, my eight friends and I—who had also read the same article—decided that we would all pursue CS together. And so the journey began in February 1998.

We registered provisionally with the CS Institute, and I still remember the day when the eight of us traveled by bus from Meerut to Delhi. Reaching the CS Institute on Lodhi Road was quite a challenge, as we were all new to Delhi, despite Meerut being so close.

That was the starting point. As we progressed through our CS Foundation and later the CS Intermediate, we encountered various laws that sparked my interest. It was during this time that I thought, “Why not also pursue law?” This could help me earn a little extra by working as a legal head in a company and expose me to more laws in practice.

At that time, the MRTP Act and the Consumer Protection Act were prominent. These laws helped me understand legal nuances early on, like the difference between “flat 50% off” and “up to 50% off,” and the meaning behind the asterisk we often see with “T&C apply.” These details sparked my interest in law.

After completing my B.Com from Delhi University and while pursuing CS, I decided to pursue law as well. I qualified as a lawyer in 2005, although I finished my CS in 2006.

In 2007, I got enrolled with the Delhi Bar Council. Interestingly, I joined an office in January 2007 where I got the opportunity to work on mergers and demergers, but I was still unsure about whether I should get enrolled as an advocate. Even though I visited the High Court regularly, wearing the black tie (though without the band), I hadn’t fully committed to enrolling.

It was in May 2007, after gaining more exposure to law and realizing it was my true calling, that I finally enrolled as an advocate. I had the knowledge, but practicing as an advocate—going to court—was what gave me the real practical experience.

That’s how I became a lawyer and a practicing advocate, which is why I call myself an accidental lawyer.

Beautifully said, an accidental lawyer who has made a name for himself in many kinds of legal worlds where the corporate world starts and ends at that particular space. You have actually merged both of these things and used both company secretaryship and bachelor of law degree in combination so beautifully that you have built a whole sphere around you and you also have founded Alpha Corporate Legal.

Would you care to share your challenges or stories behind starting this particular company for your legal firm, and how has CS and law both helped you building that particular empire for yourself?

I think, as much as I became engrossed in practicing law and corporate matters, I got more and more connected with it, or rather, it became ingrained in my blood. As I shared, I am a first-generation lawyer, and for me, it was really tough to make a mark in the legal industry or even find a suitable job.

But, as luck would have it, I started working in January 2005, before I qualified as a CS or completed my law degree. One thing that gave me the strength to venture into law with perseverance, without ever doubting my decision, was my repeated failure in my CS examinations. I still remember that I couldn’t qualify for my CS Intermediate Group 1 in three attempts. It was only on the third attempt that I finally cleared it. Similarly, at the final level of my CS, I cleared Group 2 on my fourth attempt. It took me about eight years to complete my CS, but I am not shy about it.

I openly share this because, despite the failures one may face in life, each failure should motivate you to push harder and succeed. In this regard, it would be unfair not to mention my teachers, Mr. Bhupesh Anand, who still teaches Direct Tax and Financial Management to CS students, and Mr. S.P. Rao, who taught Indirect Tax. I went to them when I couldn’t pass my exams, and I used to travel back to Meerut for my CS exams.

I would impart the knowledge I gained in coaching classes to my fellow friends who were also pursuing CS, and they would clear their attempts, while I kept failing. One day, I went to Mr. S.P. Rao and told him that I wasn’t cut out for CS. It wasn’t happening.

He told me, around late 2005 or early 2006, to write on a piece of A4 paper: “I will qualify my CS in the June 2006 attempt,” and put it on the wall where I studied. I did exactly that. He also told me to follow this, and meet him after the exams in June 2006. He gave me a piece of advice that I still follow today. He said, “Whenever you face a problem or can’t solve a question, make a fist, tell yourself that ‘I can do it, I have to do it,’ and try again.” I still follow that advice, and it really helped me.

Despite the syllabus changing during my last attempt, I sat for all eight or nine papers consecutively, and I cleared my CS in the June 2006 attempt. His belief in me filled me with conviction that I had the ability to do it. It was just a matter of time and persistence. That belief in myself kept pushing me forward, shaping my career.

In January 2005, I began working as a Secretarial Executive in a private limited company that provided secretarial services to its clients. It was there that I met Mr. Anil Goyal, a Chartered Accountant, Company Secretary, and a rank holder in both. He was a self-made man, and he recognized the potential in me. At that time, he was the auditor for a listed entity, and he referred me to work there. I went for the interview, got selected, and that’s how I started working for a listed company that had the second-best IPO of 2005.

I told myself I wasn’t going to miss this chance at any cost. I learned a lot while working there, but I realized that my true calling wasn’t in working for a listed company because, even after completing my work, I had so much free time that I kept craving more.

However, I stayed with the company because I was still pursuing my CS, and it gave me enough time to study. I remained there until I qualified, and, being fair to them, I didn’t leave without seeking employment as an Associate Company Secretary.

As luck would have it, the main Company Secretary got an opportunity to work with a firm dealing in mergers and demergers, but he passed on that opportunity to me. I spoke to Mr. Anil Goyal, and he said, “Sumit, this is the best opportunity you can get.”

At the same time, I was offered a much higher salary by a reputed company to join as their Company Secretary, but I chose the opportunity to work in the M&A domain with Mr. Deepak Deewan. I’m forever grateful to him for making me his first associate in his office, which exposed me to the world of mergers and demergers.

In my first year, I handled my first scheme for a listed entity. It was a demerger where the real estate division was demerged and bogged into an SPV, which we got listed under the Securities Contracts Regulation Act without going through an IPO. Overnight, after the order passed, the person had another listed entity in his group, and that gave me immense satisfaction.

I stayed with Mr. Deepak Deewan for almost four years, during which I worked on 50-60 schemes of mergers and demergers, including about 15 listed entities. Some of the names include Spentex Industries, Jindal Drilling, Maharashtra Seamless, Ansal Group Companies, DLF, and more.

During my time there, I encountered unique cases. One was a scheme proposed by the shareholders of two listed entities involving two brothers with a family arrangement. Usually, it’s the company that proposes the scheme, but in this case, the shareholders were proposing it. It took me two hours to convince the Delhi High Court Registry that there were no transferee companies in this scheme.

Another case was the merger of a real estate company involving farmlands and farmhouses around the airport area. After the merger was completed, the client came to us because their sale deeds were impounded by the sub-registrar of Kapashera. We approached the Delhi High Court, and I researched a pre-independence notification under the Indian Stamp Act of 1937. After months of effort, I found the notification, which was ultimately upheld by the Delhi High Court in the Delhi Towers Limited case. This became a highlight of my career at that nascent stage when the order was passed in December 2009.

Although this order had far-reaching implications, I had fulfilled my duty to my client by exonerating them from paying stamp duty. Following this, the Delhi government withdrew the notification, and mergers and demergers in Delhi became subject to stamp duty. Other states followed suit.

So, I may have deviated from your original question about setting up ACL, but all these events in my early professional career really solidified my commitment to the law. Or rather, I got married to the law because of these experiences.

Yes, it is very difficult for people to accept that there have been failures in their career as well. But it’s commendable that you are accepting it with open arms. And you are sharing your learning from those failures. What I believe or what I have understood till now in my life, that yes, if you accept your failures, you will be more successful than what you would have imagined. And I guess that is the reason why you have such amazing clients also who tend to forget the parking charges for their planes, where you have saved them crores and crores of rupees.

How do they compliment you with all these kind of things? And how do you keep yourself so aware that you get to understand that these all nitty gritties are also there and you help them in saving them their not only money, but their faces as well. How have you done that?

Divya, there’s more to it. While I was working with Mr. Diwan, I was quite young at that time—still young at heart—but back then, I was young physically as well. I decided to go solo, and certain things happened. It was right after my marriage in November 2010 that I decided to work independently for about six months.

Handling these matters boosted my confidence immensely. I felt like I could conquer the industry, so I thought, “Let me start on my own.” However, I soon faced reality and realized I was lacking experience.

A lawyer is a lawyer to the world, whether you’re a corporate lawyer, criminal lawyer, or IPR lawyer—these distinctions come much later in your career. When I faced the reality that I couldn’t serve my clients properly due to a lack of experience, I accepted it.

I couldn’t approach other friends, colleagues, or seniors for help because I believed that if I was working for a client, it was my responsibility. It changes your attitude toward work when you take ownership. It’s like buying a car—you look at every detail before making a decision. Similarly, how can anyone be lax when working for someone else? This attitude of treating my client’s work as my own pushed me to go the extra mile because, ultimately, if my client is happy, I’m happy—and I’m progressing.

So, when I realized this, I joined DMD Advocates. At the time, it was known as Dutt, Menon, Dunmorr Sett. I’m really thankful to Mr. Rashi, the corporate head there, and to Ms. Anuradha Dutt, with whom I had the opportunity to work later in my career. These two individuals taught me what law truly is—how to read, analyze provisions, and much more.

Mr. Rashi had recently returned to India after working in the US for 16 years, and he instilled in me the traits of being a true professional—true to your work, your clients, and yourself. I’ll always be indebted to him, Ms. Dutt, and DMD, as well as all my colleagues there. They believed in me and gave me the opportunity to work for their clients. After that, there was no looking back.

I was with DMD for almost 11 years, and it gave me the confidence that if I ever decided to go independent, I wouldn’t fail. Many juniors at DMD started their own firms and are successful today. That’s the kind of training I received there, and I will always be grateful. Without my time at DMD, I wouldn’t have thought about setting up ACL.

Like everyone, I had my highs and lows at DMD. I’m not shy to admit that at one point, I didn’t complete my appraisal form because my performance wasn’t up to the mark that year. But I was determined, and I’m thankful to Mr. Rashid for believing in me and giving me another opportunity. I bounced back, and for the next three years, I received the highest increments in DMD and was promoted to principal associate.

I worked on numerous matters for MNCs, regulatory issues, and represented clients before SEBI, Enforcement Directorate, CBI, and RBI. That gave me a platform to hone my skills as a lawyer. Over time, I learned that a lawyer never gives up, and that’s why this profession is one of the strongest in the world.

In July 2021, I finished a major assignment—part of a larger global disposition—and that gave me time to reflect on what I wanted to do. While I had no complaints about the quality of work, remuneration, or culture at DMD, I wanted to do something more. Working at a law firm doesn’t give you the time to pursue those extra things. So, I took a sabbatical.

Interestingly, on 13th July 2021, my last day at DMD before my sabbatical, an old friend called me out of the blue. He asked what I was doing, and I told him I was going on vacation. He said, “I’m hiring you as my outside general counsel right now, and I’ll pay you this much.” I told him I was on vacation and didn’t want to work for the next 15-20 days. He insisted, saying, “Your retainer ship starts today, but I won’t disturb you during your vacation.” And just like that, I got my first client.

During the vacation, I discussed things with my wife, who is a crucial part of my life. At the time, our son was about to start school, so it was a critical juncture. My wife asked, “Are you mad? How will we pay our bills and EMIs if you leave DMD and start your own firm?” I told her I had saved enough money to survive for a couple of years, even if I didn’t earn anything. She gave me one year to prove that I could sustain our family without denting our savings.

That’s when I started thinking about what to name the firm. I didn’t want my name on the board—Sumit Garg & Associates or SD Advocates—because I wanted to create an organization where anyone could contribute without feeling it wasn’t their office. I wanted to be at the top of our game, the “alpha males” of the industry. So, we named it Alpha Corporate Legal. I called a friend in IT, got the domain registered, and started working from home.

That’s how ACL came into existence. It’s still a proprietorship because I’m looking for the right person to partner with—someone who shares my commitment to clients. My associates, the ones who started with me, should eventually step up and become partners. That will give me the ultimate satisfaction—that my colleagues are now my partners.

I tell them all the time, “This is your office, not mine. You decide what’s best, plan policies, take on client work, but always be available, accountable, and responsible to your clients. If you’re late on a deliverable, own it, reach out to the client, and explain. Never let the client chase you.”

I’ve noticed, after almost 20 years in the profession, that many lawyers dodge their clients when they’re delayed on something. It’s wrong. You should be proactive. Clients will respect you more for being honest and forthcoming. That’s what I tell my colleagues and anyone who seeks guidance on how to progress in their career.

These are traits I’ve learned the hard way, but if I can impart them to others, why not? That’s my philosophy when I say I want to give back to society and the profession. And that’s what this journey with ACL is all about.

I would like to ask about your involvement with Startup ventures, because I guess you are very much involved into helping them as well. But major question there would be to understand the psychology of the young aspirants or aspiring entrepreneurs who regarding to the legal aspect they try and take more risk in terms of not having absolute legal team ready for them from the very start and later they suffer because of that.

So how do you adjust to this particular thought process of startups and how do you help them or train them in case they have come in the start and once they have gotten into some trouble and come to you at a later stage.

So, Divya, you’re absolutely right. This generally happens not because anyone wants to cut costs, but because entrepreneurs want to focus on their business. That’s their passion, their vision – to grow the business. However, some entrepreneurs have a broader vision and believe, “Whatever I’m doing, I need to do it right.” For them, having the right team is the most important thing. I personally believe that setting up the business team is crucial, and the second most important thing is setting up the legal compliance team.

If my business or the way I conduct it is not in compliance with the applicable law, there won’t be a business for long. There’s been a paradigm shift in the mindset of entrepreneurs compared to 10, 15, or 20 years ago. Now, they don’t see the legal team as a cost center; they see it as an integral part of the business and invest in it. Because when the business is new, there are numerous challenges – managing the team, setting it up, and money is usually tight in the beginning as you’re seeking funding.

Sometimes, promoters or entrepreneurs try to cut down on legal costs by not hiring a legal expert or not seeking legal advice. In fact, just last night, I was on a call with a foreign client who had set up a company in India a few years ago. While they weren’t hesitant to spend money, they didn’t bring the right people on board to advise them properly.

This acts as a checkpoint for Indian entrepreneurs because when funding happens, the investors, who are putting their hard-earned money into a startup, want it to succeed. It’s up to the promoter to find the right person – a lawyer or corporate legal expert – who can guide them through legal processes so they can focus on the business while ensuring that all aspects are legally sound.

My advice to entrepreneurs is always to hire the right person to support them in all legal decision-making, ensuring that their business decisions will stand the test of time and law, if required in the future. Secondly, I advise them to be transparent. In business, it’s not necessary to make 100% right decisions all the time. Sometimes wrong decisions are made, but if they are, own up to them, learn from them, and be honest with your investors. Explain why the decision was made, what changed, and what corrective steps you’re taking to rectify it.

Another key point I want to highlight is that many professionals focus solely on problems. Few look at solutions. We have to be solution-oriented in life. If one door closes, we must look for the other five doors that have opened for us. Transparency is key – with business partners, employees, vendors, customers – everyone. It is essential to grow and scale up your business.

Moreover, it’s important to form bonds of friendship. An employee is not just an employee; they are a vital component of the business. They become family. Unfortunately, some businesses merely pay lip service to this idea. But real success only comes when you truly create a family out of your team. Without the support of your team, it’s difficult to achieve anything.

I always tell entrepreneurs not to cut corners on legal and compliance budgets. One wrong compliance move could become a major obstacle for future fundraising or obtaining licenses for the business. Maintaining high levels of integrity is critical if you want to create a scalable business.

Once these aspects are covered, the rest comes down to passion. If you have the right passion, you will build and scale the business and make a name for yourself. I particularly remember a client I served in 2012, who had built a well-established brand in the F&B sector with a major Indian conglomerate in consumer goods. He sold his minority stake in the company and started his own F&B business, where he was the 100% owner.

With a proven track record and a passion for food, he scaled his startup in just three years. He secured funding of ₹18 crores, followed by ₹100 crores a year later, and then another ₹50 crores after another year, eventually reaching ₹100 crores again. He built 10-15 dominant brands in the F&B sector, with restaurants in India and abroad. We even did a master franchise agreement for him at a global level.

He was true to himself, his investors, his employees, and his partners, which is why he could scale his business so rapidly. I’m still associated with him, and I take pride in being part of that organization. It gives me a different level of satisfaction because, for me, earning isn’t everything. Building relationships and achieving a sense of satisfaction is far more important. And that’s what I try to instill in my team as well.

Taking all of these kinds of learnings, I would like to move forward and ask you about your experience related to educating people, giving them lectures, interacting with students, new entrants.

What are your observations about the upcoming generation of legal professionals and the kind of challenges probably they are going to face with the kind of technologies that are upcoming and the way law is also changing in relation to the kind of disruptive tech which we are now seeing, it has taken shape?

And how do you see when you guide them or when you lecture them, how do you convince them that they can make a name for themselves? Along with being truthful and honest, what all are your guidance to them and how do you make sure that they do not get disheartened by big names and try and make a name for themselves?

Divya, I always share my failures more than my successes because, as professionals, we know that platforms like LinkedIn, blogs, and podcasts are filled with success stories. There’s a lot of digital content available online these days, but merely going through it mechanically doesn’t give you that zeal, and it often doesn’t resonate with you.

That’s why I prefer face-to-face interactions over virtual ones. However, we have to keep up with technology and the times, so I’ve adapted to virtual hearings, interactions, and everything else. Still, my first preference remains physical, face-to-face meetings.

The biggest strength I see in today’s younger professionals is their clarity of thought about what they want to pursue in their careers. When I started law in 2007, I worked on everything—corporate M&A transactions, general corporate, IPR-related matters—because IPR is crucial to any business. When you’re negotiating corporate or M&A agreements, significant time and effort go into negotiating the IPR aspects. It took me 6 to 8 years to figure out what I really wanted to focus on. But today’s youngsters know exactly what they want to do, whether it’s corporate law, IPR, criminal law, civil commercial litigation, or family law. They have that clarity, and I think a lot of it comes from the immense content available online, which gives them deep insights into career paths and specialized fields.

However, my suggestion to them is that in the first five years of your career, do everything that comes your way. Get a sense of the various practice areas before deciding which one suits you best. Only then can you make an informed decision based on your skills and experiences.

Another strength they possess is that they have their priorities right. When we interact with young lawyers for hiring purposes, they aren’t shy about asking practical questions like, “What are the office timings?” or “What are the working days?” In the four or five interviews I’ve had in my life, I never dared to ask such questions. My objective was always to secure the job. But I respect that they ask these questions, and I even encourage them to do so because if they’re comfortable with the work culture and conditions, then we move on to technical evaluations. Otherwise, there’s no point in wasting anyone’s time.

These are some of the strengths I’ve observed in freshers entering the industry. I believe everyone should ask these questions because work-life balance is important. I know many colleagues who burned out in the first five years of their careers. If you’re running a marathon, you have to train for it. It’s not a sprint. We need perseverance, conviction, and the endurance to finish the marathon, not leave it halfway.

Youngsters have a lot of questions, and what I’ve learned is to ask as many questions as you can. If you’re asking questions, it shows you’re eager to learn. The problem arises when you’re not asking questions—either because you’re shy or because you think asking might invite trouble. Maybe your reporting partner or senior will ask, “If you had this question, how did you finish the work already?” Some people avoid that interaction and think, “If the work is done correctly, I’m good. I’ve managed to hide my shortcomings.” But you can’t rely on luck every time.

I used to wonder, back when I was with DMD, how my reporting partners instantly caught things I missed in a document. Now I know that after 15 to 20 years of experience, you can immediately tell how much work has gone into a document.

Since you brought up the aspect of work-life balance, being such an accomplished professional, how do you manage to maintain that balance? If possible, could you share any personal experiences, hobbies, or approaches you use to handle this? Work-life balance has become such a pertinent issue, especially with burnout becoming more common, as you rightly pointed out. How have you managed it so far, and how do you ensure your team learns from your example?

My hobby is singing and playing the guitar. Although I haven’t played the guitar in a long time, I never miss the opportunity to sing whenever I can, whether it’s at social gatherings or other events. Even if it’s just a couple of lines, I enjoy it. There’s another aspect I consider important, and that’s spirituality. I believe it plays a crucial role in everyone’s life. We may not realize its significance when we are young, but as time passes, spirituality brings calmness and the wisdom to understand what’s happening around us.

I was fortunate to be introduced to Nichiren Daishonin’s Buddhism through my wife, who was practicing it even before we got married. It’s a Buddhist philosophy that I’ve been following ever since. This practice has helped me achieve a sense of spirituality in my life and taught me how to take responsibility for everything that happens to me. The philosophy is based on the concept of cause and effect—what I do today will shape the outcomes I experience tomorrow. It keeps me grounded, humble, and gives me the strength to keep moving forward.

This philosophy emphasizes accountability and highlights the importance of happiness. It teaches that once you achieve happiness, it’s your responsibility to spread it to others, regardless of their social status—whether it’s the security guard in your building, your domestic help, the cook, your driver, colleagues, wife, kids, or mentors. Gratitude is at the core of this practice, and it has become a guiding principle in my life.

My Buddhist faith was a significant factor in establishing ACL, and it helps me bring a humanistic touch to all my interactions—whether with clients, colleagues, or family. It keeps me grounded and level-headed. I also devote a lot of time to Buddhist activities and encourage my colleagues to learn about it as well. I believe no philosophy can harm you—you can always take what resonates and leave the rest.

This philosophy is not just my hobby or passion; it influences my work and personal life, allowing me to do good for my clients, associates, family, and friends. It helps me stay connected to the human nature that exists within all of us, but which we sometimes forget in the fast pace of life. I strongly believe in being humane to everyone because if you don’t like something happening to you, it’s likely the other person won’t like it either.

This belief is what inspired me to ensure a healthy work-life balance at ACL. That’s why we operate on a five-day work week, unlike the seven-day trend in many law firms. Of course, when necessary, we do work on Sundays or overnight, but that’s a rare occurrence at ACL. I believe if work is managed efficiently, there is no need to work overtime or on weekends.

Another principle I’ve instilled in the work culture at ACL is respect for personal time. If someone is on leave, we don’t call or email them. We don’t disturb them because it’s important for everyone to spend time with their families and recharge from the demands of being a lawyer.

Sir, would you care to share some thoughts about ACL? Are you planning to expand it? How do you envision bringing more people on board, and what are your future plans for the firm?

Given the philosophy you’re promoting; many people would be eager to join a firm where they have the freedom to take leave without interruptions. It would be fantastic to hear more about this approach, and it’s inspiring to know that such firms exist.

let me clarify one thing. When I said that we don’t disturb, it’s only when it’s absolutely urgent that we contact our associates. Otherwise, I avoid disturbing them when they’re not working. I feel the same way about not being disturbed while I’m with my family. It’s a two-way street; it cannot be one-sided. As I mentioned earlier, I’m not in a rush to expand ACL. I often see LinkedIn posts like, “We now have 500 lawyers in our office” or “We’re growing at a 2x pace” or “We’ve opened this office and that office.” And while that’s great and encouraging for people like us, when it comes to ACL, I’m not in a hurry to grow because I believe in expanding with a humanistic approach, gradually, not instantly. I’m here for the long haul. It’s a marathon, not a sprint, and I don’t want to be a fly-by-night operator.

At ACL, God has been kind, and I want to express my deepest gratitude to our clients, those who entrust us with such intricate tasks and believe in us. Securing clients for a relatively small office is no easy task, neither for me nor for the clients. But thanks to my experience in the industry and the work I’ve done, word-of-mouth has been spreading at a good pace. Recently, we completed three years at ACL. During these three years, we’ve worked on notable assignments, such as the acquisition of a listed entity by one of the top five Indian groups, representing media companies in their acquisition through the SEBI route, and navigating the SEBI takeover code. This was one of the first listed company assignments we handled at ACL.

Also, because of my long-standing relationships with clients I had served during my time at DMD, some of them wanted to connect with me as soon as I started ACL. But having spent nearly 11 years at DMD, I learned invaluable lessons in integrity from the people there. So, even though I hadn’t signed any non-compete agreement with DMD, I decided on day one that I wouldn’t take on any client I had worked with at DMD for at least six months. That was my way of honoring the place where I learned so much. I didn’t want to give anyone the impression that I was poaching clients. However, there was one particular client who was adamant that if I left DMD, they wanted to move with me. Incidentally, I had been the one to introduce that client to DMD, and my managing partner was gracious enough to let me take the client with me, encouraging me to do my best for them.

For this client, I represented them before the Securities Appellate Tribunal (SAT) against penalties and debarment orders, where a penalty of ₹10.25 crore had been imposed, along with a five-year debarment not just on the company, but also on its promoters and directors. We successfully got the penalty reduced to just ₹25 lakhs. This was the first company to receive relief from SAT in GDR-related matters, out of 70-80 similar cases pending with SEBI and SAT. This level of commitment is what builds lifelong connections with clients, not just for a single transaction, but for life.

Some of those clients have returned, and I continue to work with them, having signed engagement letters only after the required time period. Since then, our client list has only expanded.

Another significant client we gained was a listed entity in the travel sector, which entrusted us with acquiring a majority stake in three domestic companies. With a team of just three people, we successfully completed these transactions, which involved drafting definitive agreements, negotiating with selling shareholders, and structuring the deal. What made this transaction unique was that there was no cash consideration involved. The listed company acquired the majority stake via a share swap, issuing its own shares as payment.

The next stage was to obtain in-principle approvals from the stock exchanges for the listing of the newly issued shares, which we successfully secured. We then applied for the listing and trading approvals from the stock exchanges, which were also granted. This is how we successfully closed that transaction for the listed entity. Impressed with our approach, availability, and commitment levels, the client entrusted us with three more overseas acquisitions.

I take immense pride in how we approach our assignments. We work on a lot of SEBI-related matters. Recently, we represented an individual who couldn’t afford our fees, but we took him on anyway, offering him a substantially discounted fee and the flexibility to pay when he could. I believe even if you charge a nominal fee, it helps the client retain their self-respect while valuing the work you’ve done for them.

I’m proud to say we represented him, and after several hearings with the whole-time members, we managed to get him exonerated from all the allegations. The satisfaction that comes from such outcomes is immense. In this case, one of my team members, who had worked with me on the assignment, had left ACL due to health issues. I made it a point to call him and inform him that we had won the case and achieved a fantastic result.

This is how I plan to grow ACL—by ensuring that every person associated with us brings a human touch to everything they do, offering the highest level of commitment to clients, colleagues, and the office.

What a wonderful thought, sir: aiming not only to grow your organization organically but to make it more human and client-centric. After all, we are here to serve our clients. Your honesty in this interview was truly refreshing. The beauty of it lies in your openness about both your failures and successes, without any hesitation.

I’m genuinely thankful that Namrata brought you in for this interview and that you graciously accepted. I thoroughly enjoyed this candid conversation. Thank you once again for being with us at SuperLawyer. It has been an amazing experience today.

Thank you so much.

My pleasure! I feel a responsibility towards my fellow colleagues and the new generation entering the legal profession. This is the reason I engage in these conversations; it gives purpose to my life. While we live for ourselves and our families, we should also live for others. This is a lesson I’ve learned from my practice of Nichiren Daishonin’s Buddhism.

I am deeply grateful to the Buddhism I follow, to my wife, and to my parents who have always supported me through both challenging and happy times. If in the future you think my input might be valuable, I am more than willing to help. It would be my pleasure to assist and be available for my fellow colleagues.

Get in touch with Sumit Garg-

• LinkedIn