Super Lawyer

Category: Partners, General Counsels and Senior Advocates

  • Shisham Priyadarshini, Partner, Rajani Associates on working at a corporate firm and specializing in project finance

    Shisham Priyadarshini, Partner, Rajani Associates on working at a corporate firm and specializing in project finance

    Shisham Priyadarshini graduated in law from L.A. Shah College, Ahmedabad. She started practice in 2003 and has worked at reputed firms such as Singhi & Co, Mulla & Mulla Craigie Blunt & Caroe and Thakker & Thakker and is currently a partner at Rajani Associates. Her core areas of practice include project finance and banking.

    In this Interview she talks about:

    • Importance of internships and scope of practice in the Corporate sector.
    • Advantages of working at a law firm and her experiences of the same.
    • Her take on the Arbitration and Conciliation Amendment Act, 2015
    • Her advice to students aspiring to build a career in Law.

    1. HOW WOULD YOU INTRODUCE YOURSELF, GIVEN THAT MOST OF OUR READERS ARE LAW STUDENTS, LAW ASPIRANTS OR PROFESSIONALS IN THE LEGAL ARENA?

    I am a first generation lawyer working with Rajani Associates, a law firm with the focus on supporting, advising and guiding the client across various domains of legal practice. My practice areas include project, project finance and banking and finance. I like to work on varied types of assignment and currently I am keen to develop the anti-bribery and anti-corruption (ABC) practice of the firm.

    I can just say that couple of years back I was one of you, reading words of wisdom of successful professionals and trying to draw motivation from them.

    2. ENLIGHTEN OUR READERS ABOUT YOUR ROOTS.

    During my early childhood I stayed in Jammu and then since my father was in Central Services, I moved from one city to another barely completing three years of education in any one school. I did my law studies from L. A. Shah College, Ahmedabad and then I came to Mumbai. Since then I have been working in Mumbai. So while my roots are spread in many cities but as a professional my career has shaped up in Mumbai.

    3. HOW ARE INTERNSHIPS HELPFUL FOR A LAW STUDENT? WHAT ARE THE OTHER OPTIONS AVAILABLE FOR SOMEONE INTERESTED IN CORPORATE PRACTICE?

    I feel law classes though very essential are quite theoretical and teaches the principles of law. It is during internship that you get an opportunity to apply your knowledge to actual matters. Internship is the first introduction to the legal profession. It offers an opportunity to explore the areas of practice which are generally the lesser known subjects of law and also introduces the interns to various interesting facets of law. Longer internships allow you to work on projects from start to finish and provides confidence and experience.

    It is also quite possible that you get an opening in the law firm where you are doing the internship.

    Corporate practice is dynamic. There is plethora of options available for someone interested in corporate practice. Besides the traditional practice areas like private equity, mergers & amalgamations, banking & finance one can even consider venturing into energy laws, maritime law, bankruptcy law, ethics and compliance.

    4. YOU HAVE WORKED AT SEVERAL LAW FIRMS IN THE PAST. WHAT FACTORS MADE YOU LEVITATE TOWARDS PRACTICE IN FIRMS AS COMPARED TO INDEPENDENT PRACTICE?

    Independent practice has its own limitations. While working in a law firms you get the mentoring of your seniors, which I feel is essential during the early years. In a law firm you get to work on varied assignments which enriches the experience and broadens the outlook. I have observed that big corporate houses are hesitant to approach independent practitioners, certainly not because of lack of talent but since they look for a one stop shop and a panacea for all their legal challenges. It was therefore an obvious choice for me to practice in a law firm wherein there is synergy of resources.

    5. YOU HAVE BEEN WITH RAJANI ASSOCIATES FOR MORE THAN A DECADE. CAN YOU TELL US ABOUT YOUR EXPERIENCE AT THE FIRM?

    Today when the attrition rate is so high I have managed to stay with Rajani Associates for over a decade. The credit for this goes to our Founding Managing Partner, Mr. Prem Rajani and to all the colleagues. They have provided a conducive environment to work and grow, from an Associate to a Partner.

    At Rajani Associates, I have been given the opportunity to work on unique and unprecedented matters, outside my core area of specialization. Though these assignments are time consuming, they have given me the maximum amount of job satisfaction, especially because of the learning curve involved in the process.

    I owe a great deal of my understanding of being a lawyer to Prem Rajani who with his guidance, support, patience and sense of humor has mentored my journey.

    6. WHAT LED YOU TO SPECIALISE IN PROJECT AND PROJECT FINANCE? WHAT DOES IT ENTAIL?

    I have always been keen on corporate and commercial law. While working with Rajani Associates, I got the opportunity to work on various project and project finance matters and over a period of time I developed a specialization in the same.

    It provides opportunities to work along with project participants for the development of ports, roadways, highways and social infrastructure including healthcare projects, development of new technologies for waste and water management. It involves rendering services right from the bid stage, to structuring the transaction, forming consortia, execution of concession agreements, project equity, project debt, documenting and negotiating commercial contracts.

    7. WHAT ARE THE QUALITIES REQUIRED TO BE A GOOD NEGOTIATOR? WHAT WOULD YOU DESCRIBE AS A SUCCESSFUL NEGOTIATION?

    To be a good lawyer, it is essential to be a good negotiator. I believe negotiation is not about winning or losing (as is generally construed). It is about varied interests converging on a common goal point and that is the successful completion of the transaction. For this one needs to have a grasp of the matter, do an honest assessment of the situation, be respectful and mindful of the requirements of the parties involved and provide straight forward and simple solutions.

    8. HOW HAS THE FACE OF CORPORATE LITIGATION CHANGED OVER THE YEARS?

    India like any other country has judicial, quasi-judicial as well as other alternate dispute resolution methods. The corporate litigation practice is part of the judicial dispute resolution method which has seen tremendous growth, especially with India opening up its markets, where the Indian judicial system has had to come to terms with the reality of globalization and liberation.

    With multinational companies setting up their business in India, the nature of commercial disputes have changed and today disputes are not only limited to dishonour of cheques, real estate, employment, labour disputes or consumer cases but are majorly in relation to private equity transactions, mergers & acquisitions, competition laws, commercial contracts, defaults in financial transactions (including lending and borrowing, hire purchase, finance lease) and enforcement of foreign awards.

    The Government has also taken several steps to ensure that the time taken to resolve the disputes comes down and litigation matters do not drag on for years. It has amended the arbitration law, passed the commercial courts bill paving the way to constitute the commercial courts to exclusively handle the commercial cases, brought in the Insolvency and Bankruptcy Code and notified the National Company Law Tribunal (NCLT), all aimed at ensuring faster disposal of cases. Even the tax department, one of the largest litigant, has also taken initiative to reduce tax litigation.

    9. WHAT IS YOUR OPINION OR TAKE ON THE ARBITRATION AND CONCILIATION AMENDMENT ACT 2015 ESPECIALLY THE RETROSPECTIVE EFFECT OF THIS AMENDMENT?

    The amendment carried out in the Arbitration and Conciliation Act, 1996, by the Amendment Act, 2015 is quite positive and a huge step forward to boost the commerce of India. The intent is to reduce the intervention of the court and expedite the arbitration proceeding.

    The retrospective effect of the Amendment Act has been discussed by Bombay High Court in the case of BCCI versus M/s Rendezvous Sports World and Delhi High Court in the judgment on Raffles Design International India Private Limited & Anr. versus Educomp Professional Education Ltd & Ors.

    The view taken by the Courts is that the as far as the Arbitral Proceedings are concerned, the Amendment Act shall apply only if the Arbitral Proceedings have commenced on or after October 23, 2015, i.e. the date of promulgation of the Amendment Act.  The Courts have further held that the Amendment Act  shall apply to court proceedings in relation to Arbitral proceedings, such as application for appointment of Arbitrator or setting aside of the award regardless of the date of initiation of such proceeding.

    In my view, the Amendment Act is applicable to “arbitration proceeding” and “in relation to arbitral proceeding”. This distinction has been made with an intent to remove the defects which prevailed under the old act.It is only logical that the amendments shall not apply to the ongoing arbitration proceeding, except when the parties have mutually agreed to the same. This is to avoid any change of law in the midst of an arbitration proceeding. 

    The issue of applicability of the amendments vis-à-vis arbitration proceeding and in relation to arbitral proceeding is presently pending before the Supreme Court of India.I am hopeful that the Supreme Court affirms the view taken by the Bombay High Court, Delhi High Court and the Calcutta High Court in this regard.

    10. ARE THERE ANY SETBACKS IN THE INDIAN JUDICIARY? IF YES, WHAT STEPS DO YOU RECOMMEND TO ERADICATE THESE SETBACKS?

    The biggest challenge faced by the Indian judiciary is the massive burden of the pending cases. It is a common man’s grievance that generally it takes years for the Courts to decide a matter.There is an acute shortage of judges due to delay in appointment and inadequate remuneration. If more judges can be appointed this will drastically reduce the pendency of the cases.

    Additional special courts, fast-track courts may be set up to tackle the issue of backlog of cases. Even the concept of mobile courts should be encouraged to bring justice at the doorsteps of litigants of far-flung remote and rural areas. Lok Adalats, an informal, alternative mechanism can be encouraged especially in pre-litigation matters, settling cases before they become full-blown disputes being referred to the courts.

    11. WHICH IS THE LATEST NON-LAW BOOK YOU HAVE READ? TELL US ABOUT IT.

    Though not a latest one, the non-law book which I am currently re-reading is ‘The Monk who sold his Ferrari’ by Robin Sharma. I feel this book is relevant for every professional.

    12. DEFINE ‘CREATIVITY’. HOW MUCH GRAVITY DO YOU EXPERIENCE TOWARDS CREATIVITY?

    For me creativity is the ability to do new things, find new ways, think out of the box and provide solutions. I certainly feel creativity is very important and especially for a professional. Though an oxymoron, it is said that stress reduces creativity but it is also true that creativity reduces stress.

    13. HOW DO YOU DE-STRESS WHEN NOT AT WORK?

    I like to hear old Hindi songs, play with Bruno, my one and a half year old pug and cook when time permits.

    14. YOUR ADVICE TO ALL THE YOUNGSTERS OUT THERE ASPIRING TO BE SOMEONE GREAT INCLUDING YOUNG BUDDING LAWYERS.

    Today legal profession has been commercialized and in the bargain at times people end up compromising on ethics.

    My advice all the youngsters is to be a good and ethical professional and success will follow. In your pursuit for success do not ignore your family and friends who are your support system.

  • Ramanand Mundkur, Managing Partner, Mundkur Law Partners, on building his career in corporate law

    Ramanand Mundkur, Managing Partner, Mundkur Law Partners, on building his career in corporate law

    Ramanand Mundkur graduated from National Law School of India University (1989-1994). He is the managing partner of Mundkur Law Partners, and heads its corporate, M&A and life science practices. He has over twenty years of international work experience, having previously worked with the International Monetary Fund in Washington DC, the United Nations in Geneva, and Arthur Andersen in India before setting up MLP in 2007.

    Ramanand won multiple academic gold medals when graduating from India’s leading National Law School, and also holds a master’s degree from Harvard Law School, where he was a Langdon E. Gammon fellow and a Myer and Etta Dana scholar. He is qualified to practice law in India and New York.

     

    In this interview he talks to us about:

    • His areas of interest in law.
    • His experience at International Monetary Fund in Washington DC.
    • How his experience at Harvard prepared him for a life of academic prestige and professional success.
    • What he looks for in a typical cover letter and CV.

     

    How would you like to introduce yourself to our readers?

    I’m a corporate and transactional lawyer, based out of Bangalore.

     

    What led you to choose legal profession?

    I entered law school entirely by accident. A friend suggested me to appear for the NLSIU entrance exam and I got in. But after the first class at NLSIU (which I still remember vividly, with Dr. Menon repeatedly asking us “What is law?” and no answer being complete or satisfactory), I was hooked. I can’t think of any other subject or profession that provides the intellectual fulfillment that law does.

    So while I might have chosen law school by accident, I chose the law as a profession very deliberately. I suppose we were incredibly lucky to have been around when NLSIU was just set up, and to have that fantastic group of teachers who kindled our passion for the law.

     

    What were your areas of interest in the law? Did you engage in extracurricular activities while in college?

    One of my greatest difficulties has been identifying one or two “areas of interest” in the law—I found them all fascinating. I probably chose corporate law and public international law because they offered economic stability fairly early in my career and because the other areas of law e.g., constitutional law, criminal law, property, evidence, etc. didn’t appeal to me.

    Being part of the first few batches of NLSIU, I was lucky enough to be able to participate in pretty much all the extracurricular activities on offer: mooting, debating, quizzes, theatre, music (a bunch of us euphemistically called ourselves a band), cricket, football and whatever else was available to us.

     

    You have worked with the International Monetary Fund in Washington DC. Please share your experience.

    The Fund is a fantastic place to work at and I miss both the people there and the work I did. As a lawyer, I initially worked on the legal aspects of Fund relations with member countries (both borrowing countries as well as other Fund members). Over time, the scope of work widened to cover issues such as the Fund’s internal governance rules (including quotas, voting rights, criteria for recognition of new sates and representation) and technical assistance to certain member countries.

     

    As a Managing Partner of the firm, what is an average day at work like?

    It’s not as attractive as I hoped it would be. A large part of each day is spent on purely administrative issues. Moreover, because we’re a boutique firm, one has to wear many hats—advising clients, bringing in new work, ensuring we stay current with changes in the law, dealing with HR issues, managing firm finances, dealing with firm IT issues, all the way through to being “chief bottle washer” whenever required.

     

    How well did your experience at Harvard prepare you for a life of academic prestige and professional success?

    Harvard is probably the finest example of an enabling environment. As a student there, you’re surrounded by extremely bright, self-motivated individuals and achievers, with infrastructure and resources that are the best in the world. The faculty is outstanding and their areas of work and research are invariably cutting edge or path breaking. At times I felt one could learn and grow just by being there.

     

    What do you want to say to the next generation lawyers? Which are the growing areas of law where a new law student or young lawyer can focus and distinguish himself?

    Questions like that tend to be a little depressing (and ageist)—I’m definitely in no position to take on the role of an avuncular eminence grise—advising “the next generation” of lawyers. One bit of experience I would share with law students, though, is to not chase “growing” areas of the law or the next big thing. Instead, and this is pretty obvious: if you do what you enjoy, you’ll find that you enjoy doing what you do!

     

    Do you take interns? What do you look for in a typical cover letter and CV? How can interns manage to get positive feedback in the limited time they have?

    Yes, we do have an active internship program that works directly with certain law schools. The law schools that we work with in this regard send us CVs of suggested candidates from their senior batches, and we offer internship slots to those candidates through the law schools. As a result, we often find we don’t have slots available for individual applicants, who haven’t applied through their law schools. We encourage law schools to sign on to this program, and the schools’ placement officers can write to us at careers@mundkur.com for this purpose.

    With regard to cover letters and CVs, we look for candidates who have a consistent and reasonably strong academic, and who demonstrate that they’ve spent some time thinking about why they want to apply to our firm, and why our firm might benefit from hiring them.

     

    What would be your advice to our budding lawyers?

    I think this question has been answered. And it also reminds me of one other piece of advice I got early in my career and I’m happy to share with budding lawyers: it’s very important for a lawyer to know when to stop speaking.

  • Satish Kumar, Global Head – Legal, Ramco Systems, on a career as an in-house counsel

    Satish Kumar, Global Head – Legal, Ramco Systems, on a career as an in-house counsel

    K Satish Kumar graduated in B.Com and thereafter qualified in law in 1995 from Sambalpur University, he is also a Certified Management Accountant from ICWAI. Having worked at multiple corporate bodies as an in-house legal counsel, Satish is currently the Global Head – Legal at Ramco Systems in Chennai. Satish additionally has several publications to his name and has done much work in the way of Pro Bono activities to give back to society.

    In this interview, Satish talks to us about:

    • His introduction to the legal profession, and his experience as a lawyer since then.
    • His plethora of publications, and his advice on the best way to go about writing and publishing articles
    • Pro Bono work, giving back to society, and the ways in which he keeps up to date with the ever-changing subject that is Law

     

    How did you choose Law? Did you always know that this was what you wanted to do?

    In fact my choosing law was not deliberate and intentional. I started my career as a Finance Professional after completing my ICWA (currently known as CMA). I had parallely completed my Law Degree as well. However, Finance and Legal being closely related, I found out that I had a good aptitude for Law. That is when – even after starting my career in Finance – I switched over to Law, and with God’s grace, I am doing well and creating a niche for myself in the Legal Profession.

    In any organization, the Legal Unit are always regarded as the “Deal Makers”. You also resort to Legal when you have to be bailed out of any crisis. Legal plays an important role in “Crisis Management”. So the Legal Unit becomes most important either way – be it bringing revenue to the organization or pulling it out of some crisis. These are some of the selfish reasons which made me swing sides to Law.

     

     

    You have a lot of work experience, from working at a vast array of places. Can you tell us a little about your career graph up to this point?

    satish-kumar-4Yes, I carry more than 20 years of rich working experience in multiple MNC’s. I am very passionate about Law and that is what made me a Successful Professional.  I have working experience from Fortune 10 companies to Indian grown or growing companies like, HCL Technologies, Polaris Financial Technology (later on the product division split to Intellect Design Arena Ltd), Ramco Systems Ltd. I was fortunate to get the right breaks at the right time. I also carry some critical experience working abroad. So truly, I became a Global and a Cosmopolitan Professional.

    However, initially I started off my professional working in few indigenous companies in India. But I was fortunate to work with some industry trendsetters.  My desire to learn new businesses and passion to explore all new possibilities has helped me in my career growth progression.

     

    You have received lot of awards in your career. Can you please tell the young lawyers few things about it, please?

    Yes, I am the proud winner of many awards during the progression of my career, both abroad and in India. I have successfully negotiated and closed many contracts, structured and finalized joint ventures, cross border investments etc. I was also successful in closing many litigations. There was a time when my colleagues used to call me “the person with Midas’ touch”. In Polaris I was also called “The Deal Maker”.

    For all the achievements mentioned above and others, I was the proud winner of awards like

     

    • Konark Excellence Award
    • Gem Award
    • America’s Most Wanted Person by US Sales Team
    • Annual Excellence Award
    • Person Making a Difference

     

    You have a great deal of publications to your name. Do you write about things you think are relevant and have scope for research, about things that interest you personally, or is it a blend of the two?

    Yes, this is a very interesting question. I am happy to have many publications to my credit. I love writing – writing on relevant current Legal topics. I have written on Risk Mitigation, Open Source, Rent Control Act, etc. Some of my writings are also published in National and International Business Journals. Someday, I am sure my wish of publishing my own book on Legal topics is going to come true. Some of the links to my publications are given below.

    • Article on “Software companies can hedge against risks, with insurance cover.” Published in Business Daily “Business Line” dated April 6, 2009

     

    http://www.thehindubusinessline.in/ew/2009/04/06/stories/2009040650090300.htm

     

    • Article on “Closure of Business Deals” Published in Business Daily “Business Line” dated August 20, 2007

     

    http://www.thehindubusinessline.in/ew/2007/08/20/stories/2007082050100300.htm

     

    • Article on “Open Source Software – sans the risk” Published in Business Daily “Business Line” dated November 19, 2007

     

    http://www.thehindubusinessline.com/ew/2007/11/19/stories/2007111950090301.htm

     

    Could you also please tell our readers interested in publishing their own work what you think the best way to go about the same is?

    You should first start writing on subjects that is of interest to yourself. Writing on things you are passionate about will help further to strengthen your grasp of the subject. One may start first writing blogs and over a period of time these blogs can be converted to articles and reports in business journals. You should take care of the following while writing.

    As a first step you should select a topic that interests you, and focus on it for at least a week or two. Write a rough draft, including everything that you can think of. Stay loose, avoid getting analytical and enjoy the process of sharing what you know. You will then be surprised to see that you have a rough skeleton of the draft that you proposed to write.

    As a second step you should address your audience’s needs. You already have a skeletal draft. Now change sides and think of yourself as the reader of the draft piece of work that you had written. You should pick few words to describe the audience you want to address. For example, “young legal professionals”. Now, as a young legal professional, what are the questions you would like to ask? Note down these questions.

    As a third step you should start doing research. Now start doing a research to get the answers for all your questions noted down above. You should collect everything you have gathered and put it in a folder, or an electronic document, a notebook. You may also want to note the track of the sources so that you may refer them in future when you need it.

    As a fourth step you should refresh your draft. Now you may sprinkle the research in the draft that you have already drafted for the right audience. You may just want to revise what you have as you proceed, retaining a nice conversational tone by directly addressing your audience.

    As a fifth and final step you should review your draft. You should read, revise and repeat the process a couple of times after giving yourself some time in between the repeat processes. You will be surprised at what you have written and the changes that you keep making to the draft while re-reading it. Publishing the writing in the journals will be tough initially but once you start publishing the process will be set in your mind and it will be easier for you to write and publish in future.

     

    satish-kumar-3

    You strongly believe in spreading legal awareness to both laymen in the field of Law, as well as the younger generations of upcoming professionals in the legal field. Could you tell us a little about why Legal Awareness is so relevant?

    We usually ensure that our wealth gets transferred to our next generation through whatever way possible, like filling nomination in our Bank accounts/insurance accounts, Will writing, settlement deeds etc. But seldom do we think of transferring our intellectual wealth to the next generation. If the intellectual knowledge of Aryabatta and Einstein were transferred now to the next generation then we would be sitting rich on various inventions and patents and the world would be completely different now with many more such Aryabattas and Einsteins. But that is not the real scenario. Hence, it is very critical that our intellectual knowledge also gets transferred to the next generation. This is only possible if you transfer your learnings to your teammates and other budding professionals in the field. There are many nuances that we learn from experience, and it is worthwhile to transfer this to the next generation so that the profession becomes richer and more valuable with the passage of time.

     

    Tell us a little about your Pro Bono Activity. You have amassed a huge followers for the same. What kind of queries do you usually address?

    We derive a lot of benefit from this society. The society has made us what we are today – experienced professionals. We have an obligation towards the society. Everyone in their lifetime has one or other legal problem. But everyone may not be able to afford the best lawyers in the world. That is where we can step in and make a difference. A piece of genuine advice, counselling, direction, opinion will make a world of difference to these people. For me it doesn’t really cost much. But it gives me immense satisfaction when I see the smiling face at the other end after my counselling or legal advice.

    But I have to reach the people. That is when I decided to reach people through social media. Facebook, Linkedin, Twitter, Google+ were some of the mediums which I adopted to reach the people. I was surprised at the response levels. In a very short period, I had a fan following club of over 6000 people. People approached me with different problems. Some wanted to know the process to adopt a child, some wanted to reconcile with their spouse, property disputes among legal heirs, child abuse, work place bullying or abuse, sexual harassment etc. I ensure that just as I give some time to my family, I also give some time to the society. This has given me a lot of moral satisfaction.

    Pro bono makes me happier. Participating on such activities also provide opportunities to make personal connections with people who share your interests. Indeed, social connection is the greatest predictor of happiness.

    The very purpose of pro bono work is to assist those who desperately need help with something that’s really important, but for which they have no resources themselves. We are fortunate to be lawyers. We are among the lucky few to survive all the obstacles of becoming (and staying) lawyers. We are among the few who can make the legal system work for people who have nothing to give us but their gratitude.

    It helps to pursue my own interest and passions while helping others.

    During my early phase of career such pro bono legal work provided me a training ground. I was a junior lawyer earlier and did not have much autonomy for several years. Such Pro bono work in the initial phases of my career provided early opportunities for depositions, building client relationships, arguing motions, first-chairing trials and other valuable work experience to build skills and confidence.

    Charitable and pro bono legal work provides me opportunities to meet people with very different backgrounds and interests whom I may not otherwise meet in my daily life. Fundraising for charities, serving as a board member for a nonprofit organization and the like connected me with local business leaders and lead to new friends.

     

    satish-kumar-2

    How do you stay updated with the happenings not only in the world at large, but also with the relevant happenings in the legal field?

    I have joined many legal professional associations both in India and international levels. These associations are large number of similar professionals who are successful in their own fields. Interacting with them is very useful in developing ourselves.

    I have also subscribed to various legal bulletins. Laws are constantly changing and what was right yesterday could be illegal today. I keep myself updated reading legal decisions, and legislative and regulatory news and changes. They help me a lot to keep up to date with the dynamic legal field.

    There are various E-law tools which publish their own exhaustive law guides. The E-Laws Advisor tool simulates the interactions that a client might have with a professional. I can ask questions and it provides answers. I have privileged access to such E-laws tools.

    I also attend conferences across the globe. I interact with various professionals from Legal and other fields. This is a constant learning process and helps me understand their views too. The key benefit of attending this kind of conference is that I will be able to network and interact with key legislative decision makers and can make my views known to them.

    There are range of resources and communication channels for any professionals in order to both familiarize themselves and remain up to date with current law and trends. New technology is making it possible for this to be accessed on demand via the internet or “pushed out” to professionals via newsletters or tweets or other social media. One should only have desire to learn and keep the mind open. I make it a point to learn at least one new law every day.

     

    In your opinion, what should young students of Law prioritize as they lay the foundation for their career?

    Fresh law graduates and young students must, first of all identify the career of their interest before initiating actions in specific direction. For example, judiciary might interest some students and some might be interested in being in corporate working as a legal consultant or in-house legal officer; others might be interested in opting for litigation as a professional career. Hence, it is very important to find out what career path attracts one the most.

    Another crucial thing is to identify the area of their interest: it is very important for a student to know  which specific field of law is most suitable for them, based on their level of understanding in particular subjects. Some students might be very good in understanding criminal laws whereas comparatively weak in understanding commercial and business laws. Such students must consider their incline towards criminal law while choosing career options for themselves. Such students may opt for litigation or working under a lawyer who deals with criminal law. While students who have better understanding of taxation laws, company law, labor laws, intellectual property laws, etc. should prefer working in corporates or as an IP attorney or under a corporate lawyer.

    Once after a student has decided the chosen field of law and to start his / her professional career, he / she must join an organization or a lawyer with which / whom he / she can get enriching professional experience. First work experience is very important specifically for a legal professional as it implants the roots of one’s entire professional career. Student must give first consideration to the quality of work his/her chosen career option can provide. Further professional developments majorly depend on one’s first career decision and the learning experience during initial years of one’s career.

    From a different perspective, students should also be aware and mentally prepared of the fact that theoretical understanding and practical application of law widely differs. It is very usual for a law professional to come across dicey situations every single day. Thus, it is necessary for a student to develop a habit of thinking in order to find an amicable solution of any problem keeping in mind both legal acumen and practical feasibility. In this aspect, a few internship experiences in addition to legal studies from a reputed institution can be an added advantage.

     

    What kind of audience do you typically see at your seminars? What kind of awareness do you usually direct at them?

    (Satish actively participates in Legal Seminars conducted in various cities all over India in an endeavor to bring awareness to the young generations of lawyers and other professionals in the field of Law.)

    Yes, I am regularly invited by “The Associated Chambers of Commerce & Industry of India” (ASSOCHAM), “Confederation of Indian Industries” (CII), other Legal bodies to spread disseminate legal knowledge among the next generation lawyers.

    This is also a good platform to identify young and bright lawyers who require mentoring. I can easily identify the desire and passion in them as they keep coming to me with various intelligent questions and try to enrich themselves. Such bright lawyers should be given an opportunity to grow – to take advantage of all the experience that I have developed over the years.

    I also get an opportunity to interact with inventors, industrialists, scientists, authors, businessmen, investors, financiers, etc and get different viewpoints on the same topic.  This helps us to re-look, re-think and reposition ourselves on any topic which has various stakeholders. I learn through this process of interacting with top professionals. In order to keep ourselves abreast of new developments, we have to constantly learn. Such seminars play a useful role and are beneficial to me too.

     

    In your opinion, what are the most important skills any young lawyer should cultivate?

    As a young lawyer, when you are just starting your career in law, it can be a challenging to stay on top of everything. There seems to be an endless list of new skills and information that you need to learn. It is in fact all about getting back to basics.

    As a young lawyer, you should be a good listener. When given instructions by a client or another member of your team, listen carefully. It is important that you understand what you have been asked to do. You may ask plenty of questions, take detailed notes. This may help in giving a proper response.

    As a young lawyer you should develop a good communication skill: The success of a lawyer depends on the communication skill. You are as good as you communicate. You should develop good written and oral communication, paying attention to details, listen while others speak, professionalism, using office technologies like email and word processing, critical reading and comprehension, synthesizing facts and law, legal reasoning, organizational skills, interpersonal skills, working within established time constraints, issue spotting and finally decisiveness.

    As a young lawyer you should learn to maintain written records. Keeping good written records can save you in times of trouble. So it is a vital discipline to learn to maintain written records.

     

    What are the biggest challenges faced by the modern day lawyers?

    The legal profession is a competitive one. Yes, it always has been, but these days—with rapid changes in the way we practice law, it seems to be even more so. The integration of worldwide financial and commercial markets has occurred at an astonishing speed over the last couple of decades. Market participants now routinely lend, borrow, invest, trade, hedge and pledge and do business in jurisdictions other than their own. They expect their lawyers to tag along with them in these global adventures.

    For the lawyers, compulsory cosmopolitanism can be discomforting. It isn’t just that laws and judicial procedures differ from one jurisdiction to another. It is something more subtle. Lawyers trained in different legal systems may approach legal problems, client relations, professional etiquette, ethical questions, legal drafting, and correct professional demeanor in remarkably different ways.

    Nowadays, the clients’ expectations are more than ever sky high and on-demand. Access to the internet provides potential clients with access to legal information at their fingertips. They are empowered by technology, and they expect that their attorneys will be proactive in finding ways to be efficient and offering options and solutions in terms of results. This can strain relationships between lawyers and their clients, which puts additional pressure on lawyers to find ways to meet these expectations.

    With the access people have to information today it’s becoming more common for legal clients to have done research on their own prior to speaking with their lawyers. This has changed the role of the lawyer to educating the client in new ways like sorting through reliable and unreliable information the client may have found in their research.

    Technology has also allowed for the creation of various cheap legal service providers from paralegal. There is a gross oversupply of law schools and this glut still plagues the legal profession today.

    These paralegal have cropped up all over the internet, city, offering low-cost legal services at very attractive proposition for those seeking what they know can be costly services.

    Globalization and competition are another challenge that the lawyers face.

    In today’s global economy, lawyers may face barriers in expanding practices overseas.

    Countries around the globe are asking themselves if easing rules for attorneys to practice in foreign countries is helpful or hurtful. There’s no clear answer, and countries are handling it in various ways.

    New regulations and laws constantly come. Law is an evolving subject. Lawyers have to constantly update themselves so that they are not left behind.

     

    What is the future of Legal Profession?

    Law is a dynamic field. The practice of law is changing, but it has always been changing. In the 19th century, there was a major transition from small sole practitioner type of firms with law clerks to the beginning of the modern larger firms that specializes in certain areas. With the development and invention of technology like typewriter and telephone, computer etc, the profession of law also developed in equal pace. Now modern technology allows all sorts of legal matters at one’s fingertips. A good computer with access to legal research is a great leveler.  But, this world of informational technology has taken away the quality of life from many lawyers. Lawyers are bombarded with emails and other types of electronic messages from clients 24 hours a day. Going on vacation becomes almost an impossibility—at least on a vacation where one gets away from their work. Essentially law is a 24/7 practice with emails coming in day and night, on all holidays, weekends, etc. This massive and useless over-communication takes a huge amount of time, and at the same time is unproductive.

    With the technology, the nature of the practice of law has begun to shift. What the future of law will look like in the next 50 years remains unknown. The fear is that it will driven by technology and not the human side. Will law remain a profession, or will law change to be a business driven by technology? Only time will be able to answer this question.

     

    What message would you like to leave our young readers?

    Be open and try to absorb and learn as much as possible. The early phase in your career is a learning phase and later on you can only get better. The more you learn, the more experience you gain. You should also try to get a good academic record and in parallel maintain good extra-curricular activities. Try to get good internship experiences.

  • Poorvi Sanjanwala, Partner, Rajani Associates on essentials of a good corporate lawyer and Merger and Acquisition practice

    Poorvi Sanjanwala, Partner, Rajani Associates on essentials of a good corporate lawyer and Merger and Acquisition practice

    Poorvi Sanjanwala graduated in law with a gold medal from the Mumbai University in the year 2003 and went on to complete her Masters in Commerce from the same University.

    She is currently a partner at Rajani Associates and handles the Private Equity and Merger & Acquistion practice (the acquisitions side) in the Firm.

    In this interview she talks about:

    • Essentials of a Good Corporate Lawyer

    • Experience working in a Corporate Firm

    • Challenges and hurdles in Merger and Acquisition Practice

    • Her view on Make in India campaign

    HOW WOULD YOU INTRODUCE YOURSELF TO OUR READERS?

    I am Poorvi Sanjanwala and am a partner at Rajani Associates, a Mumbai based law-firm. I handle the Private Equity and Merger and Acquistion practice (the acquisitions side) in our Firm.

    WHAT INSPIRED YOU TO JOIN THE PROFESSION OF LAW? IF NOT LAW THEN WHAT WOULD HAVE BEEN YOUR CAREER INTEREST?

    I have always been interested in all things legal even when I was in college, I recollect deliberating a bit more upon newspaper articles which reported commercial judgements or interesting case-laws. Added to that is the fact that I am very fond of drafting, so law had to be an obvious option. If it were not law, I would have probably pursued an MBA.

    HOW IMPORTANT ARE INTERNSHIPS FOR A LAW STUDENT? TELL US ABOUT YOUR INTERNSHIP EXPERIENCES WHILE AT UNIVERSITY

    Internships I believe are extremely important not only from a knowledge-building perspective but from a specialisation identification perspective. Internships enable a student to obtain a more in-depth knowledge of various laws particularly from a practical perspective. Internships also go a long way in honing analytical skills further and enable students to come up-to-speed on laws and judgements as part of research or assignments they may be involved in, in the course of their internship. Internships do, I believe, also help students in identifying with more clarity the area of specialisation they wish to pursue and also prepare them more effectively from a practical standpoint, for life as a lawyer once they graduate. And yes, internships are at many times, a very good platform for talent to come to fore and be recognised as well. Unfortunately I did not intern during my university days so as such there is no specific experience I would be able to share with the readers in this regard.

    WHAT ARE THE OPPORTUNITIES THAT THE PRACTICE HAS TO OFFER? WHAT ARE THE ESSENTIAL REQUIREMENTS TO BE A GOOD CORPORATE LAWYER?

    Our Firm is a full service Law Firm with the corporate law practice areas being the pivots. Our practice areas include PE, M&A, Capital Markets (International and Domestic), Projects and Project Finance, Dispute Resolution, Intellectual Property, Real Estate, Banking and Finance and ofcourse General Corporate and Commercial.

    The essential requirements to be a good corporate lawyer, would be, first ofcourse be interest in the corporate laws domain as a whole, followed by good drafting skills, since any transaction/assignment in any these practice areas do involve significant documentation and where more often than not, no two documents are alike and entail customisation which is transaction specific. Coupled with drafting are negotiation skills, since again transactional documentation almost always involves counter-parties and where finalisation of such documents involves negotiations and lastly, good inter-personal skills and team spirit.

    HOW WOULD YOU COMPARE INDEPENDENT PRACTICE TO JOINING A LAW FIRM?

    Having worked with law firms since I qualified, I don’t think I would be in a position to throw much light on this. Having said this, starting off- independently is at the other end of the spectrum from working in a firm. There are various factors which culminate into a decision for any person to start off on their own and pose its own set of challenges.

     

    CAN YOU TELL US ABOUT YOUR EXPERIENCE AT THE FIRM AND WHAT MOTIVATED YOU TO JOIN RAJANI ASSOCIATES?

    (Ms. Poorvi Sanjanwala have been with Rajani Associates for more than a decadpoorvi-3e)

    The experience has been very enriching. Rajani Associates is the place where I have gained and continue to gain my knowledge of corporate laws and my transactional experience in the PE and M&A spaces. I have also been fortunate to have had very good seniors, particularly Mr. Prem Rajani, the Firm’s Managing Partner, who have also been very encouraging and have had the patience to discuss transactional aspects as a transaction progresses (and not just a post completion analysis or review). As a Firm, apart from the emphasis on close attention to detail and effective client interaction, Rajani Associates gives its lawyers the platform to demonstrate their skills in the areas of their practice, believes in placing an equal importance on learning as you work and where every member of the team is encouraged to contribute effectively to transaction closure and given an opportunity to actively participate in transactions. Coupled with this, is a good working environment and you have all the ingredients of a great working place and enormous opportunities for career growth.

    YOU HANDLE VARIOUS ASSIGNMENTS WITH RESPECT TO THE MERGERS & ACQUISITIONS. WHAT ARE THE BIGGEST HURDLES AND CHALLENGES IN THE IN THIS AREA OF PRACTICE?

    I would not say that there are hurdles in either the PE or the M&A space. Yes transactions are challenging and at times demanding but which transaction is not? It is the challenges which make each transaction a unique learning curve and also enrich your knowledge and experience in the process. I would say that every transaction I have handled or been part of in the past, has had some or at times a myriad of unique aspects to it, be it the nature of the transaction or its structure or the negotiations that it may have entailed. All transactions and the experiences have been and will continue to be a wonderful learning process for me.

    RAJANI ASSOCIATES HAS CONSISTENTLY BEEN RANKED AT THE TOP IN DEALING WITH ASIA-PACIFIC M&A. WHAT IS AN AVERAGE DAY AT WORK LIKE FOR YOU?

    An average work day would mean discussing with the team on on-going transactions, taking a round-up on changes that may have been effected to any law and its potential implications and ofcourse working with the team to meet deadlines of any on-going transaction.

    THE GOVERNMENT HAS BEGUN DISCUSSIONS TO PERMIT THE ENTRY OF FOREIGN LAW FIRMS AND LAWYERS INTO INDIA. IN YOUR OPINION, HOW WILL THIS AFFECT THE PROFESSION?

    How the actual entry of the foreign law firms will pan out, will ultimately depend on the fine print of the rules which will regulate their entry and operations into the Indian legal practice arena. As such it would be pre-mature to comment in detail at this juncture. Needless however it would be to state that the advent of foreign law firms will be a game-changer of sorts once all decks are cleared for their entry.

    THERE IS ONGOING CAMPAIGN FOR “MAKE IN INDIA”, “START-UP INDIA” AND “SKILL INDIA”. IS OUR LEGAL SYSTEM MATURE ENOUGH FOR SUCH DEVELOPMENTS OR IS THERE A NEED FOR REFORM?

    I believe the legal system is mature enough. This initiative of the Government is an important and welcome step in providing an impetus to growth and development of the country as a whole by nurturing skills and ideas to translate them into opportunities for businesses thereby generating employment and bringing self-reliance in sectors which were earlier import dependant or at the nascent stages of development. At the same time it also seeks to encourage multi-nationals and other global level players to set shop in India thereby also enabling the Country to not only benefit from investment and capital but also in opening up new opportunities for new/enhanced skill sets, technologies, employment opportunities and other ancillary benefits thereby propelling the growth story further. Keeping this objective in mind, the Government has introduced several measures for the ease of entrepreneurs to start and operate their businesses, initiated consequential changes in legislation, introduced reforms, including the liberalisation of receipt of foreign direct investment in various sectors which will go a long way in making the “Make in India” concept a winner all the way in achieving its intended objectives.

    THE GOVERNMENT HAS BROUGHT INTO FORCE THE COMPANIES (MEDIATION AND CONCILIATION) RULES 2016 TO GIVE EFFECT TO SECTION 442 OF THE COMPANIES ACT. HOW WILL THIS AFFECT THE CORPORATE SECTOR?

    As the Companies (Mediation and Conciliation) Rules, 2016 are a very recent introduction that is, the notification in this regard has been issued in September 2016 only, its impact and its success as also the ability of this mechanism to reduce the burden on the judiciary will have to be reviewed as the extent to which parties to a dispute will take recourse to it for the purposes of resolution of their disputes will have to be gauged with the passage of time.

    WHAT ADVICE DO YOU WISH TO GIVE TO YOUNG LAW STUDENTS AND YOUNG LAWYERS, LOOKING FORWARD TO JOIN A CORPORATE LAW FIRM?

    Joining a corporate law firm as most of the readers would be aware, is a demanding but at the same time challenging as well. Coupled with this, it also entails the pre-requisite of keeping continuously abreast with current laws, possessing good negotiation, drafting skills and analytical skills and working well in a team. Other equally important aspects are effective communication and inter-personal skills which are critical in team and client interaction as also during negotiation of agreements.

    WHAT WOULD BE YOUR PARTING MESSAGE TO OUR READERS?

    If you love the work you do and put all your efforts into what you do at your work place whole-heartedly, then this is what will make the entire journey an enjoyable, enriching and successful experience.

     

  • Ramakant Gaur, Partner, Ace Jurix, on work experience in litigation at Ace Jurix

    Ramakant Gaur, Partner, Ace Jurix, on work experience in litigation at Ace Jurix

    Ramakant Gaur graduated from Chaudhary Charan Singh College, Meerut in 1995. He is a game changer, defense lawyer for the complex litigations of Economic-Corporate-real estate disputes involving the criminal laws. He examines the matters closely like an investigator; ponders the prosecution’s point of view and then envisions the strategy for the defence, with his substantial experience.

    He has excelled in prosecution cases instituted by the Indian Dept. of Customs & Central Excise, Directorate of Revenue Intelligence (DRI), Directorate General of Central Excise Intelligence (DGCEI), Central Economic Intelligence Bureau, Enforcement Directorate, Economic Offense Wing and Crime Branch of Multi State Jurisdictions, Income Tax dept. etc. He has efficaciously pleaded as defence attorney, in the cases involving prevention of money laundering laws, Corruption laws & anti-drugs laws.

     

    In this interview he talks to us about:

    • The ways in which money laundering takes place.
    • Laws before and after Prevention of Money Laundering Act, 2002.
    • Lessons to be learn from various financial scams in India and abroad.
    • Role of national and international agencies to curb issue of money laundering.
    • Preventive measures taken to curb the flow of black money.

     

    What are the ways in which money laundering takes place? 

    Money laundering is a way to filter and convert ill-gotten money and conceal its illegitimate source so that it appears that the original source is a legitimate one. It is prevalent in many forms world-wide such as Hawala transactions, shell companies, terror financing, smurfing, etc. The scamsters or the money launderers generally follow these three steps, firstly, Placement of the proceeds of crime into the financial system, followed by Layering or doing away with the original source of illicit funds, and then Integrating the same into the financial system.

     

    What are the laws before and after Prevention of Money Laundering Act, 2002? What major amendments took place?

    Until 2002, several authorities under IT Act, Benami transactions Act, etc. adjudicated over the issue of money laundering, but with the alarming rate of transnational criminal financial activities, a need for holistic legislation gave way for the enactment of PMLA 2002. It has the provisions for the confiscation of tainted properties and was amended thrice, first in 2005, then in 2009 and then 2012. The PMLA (Amendment) Act, 2012 has enlarged the definition of money laundering by including activities such as concealment, acquisition, possession and use of proceeds of crime as criminal activities. Some other features are as follows: The amendment has introduced the concept of Corresponding law to link the provisions of Indian law with the laws of foreign countries and to provide for transfer of the proceeds of foreign predicate offence committed in any manner in India. It also adds the concept of ‘reporting entity’ which would include a banking company, financial institution, intermediary or a person carrying on a designated business or profession. The Prevention of Money Laundering Act, 2002 levied a fine up to Rs 5 lakh. The amendment act has removed this upper limit. The act has provided for provisional attachment and confiscation of property of any person (for a period not exceeding 180 days). This power may be exercised by the authority if it has reason to believe that the offence of money laundering has taken place. Part B of the Schedule in the erstwhile Act included only those crimes that are above Rs 30 lakh or more whereas Part A did not specify any monetary limit of the offence. The amended act has brought all the offences under Part A of the Schedule to ensure that the monetary thresholds do not apply to the offence of money laundering.

     

    What are the objectives of Prevention of Money Laundering Act, 2002? 

    The Act was introduced in order to combat and deal with the menace of Money Laundering and incidental activities in the nation in lines with India’s international obligation under the UN General Assembly’s resolution adopted in its Political Declaration and Global Program against Action. The Act majorly provides for the confiscation of the property obtained out of the proceeds of crime. It also imposes various obligations on banks, financial institutions and intermediaries to maintain records of all cash transactions. As the basic principles of evidence say that the burden to proof is on the part of the prosecution to prove the, this is the only statute where the onus lies on respondent to prove the legit source of income.

     

    Please share with us the success story of PMLA so far in the light of judicial pronouncements. Highlight some scandals and case studies.

    The PMLA has played undoubtedly played a deterrent role when it comes to combat/curb the menace of money laundering. The Enforcement Directorate, with the vigilant efforts made by FIU, CBDT, CBI, RBI and SEBI has confiscated crores of movable and immovable properties in the span of few years which were allegedly obtained from the proceeds of crime. It has spared absolutely nobody. From two tier-city businessmen to  top-notch names have find a mention in the hit-list of ED such as Vijay Mallya, Chagan Bhujbal, Subhrata Roy to name a few. As per the statute, ED has also attached properties situated abroad. The latest highlights being Augusta Westland case, Kingfisher fiasco, NSEL case, Kartik Chidambram and many more. ED has been absolutely ruthless in cracking down these alleged people.

     

    What are the lessons to be learnt from various financial scams in India and abroad? 

    To name any financial debacle in particular, would be an understatement. India has seen the infamous Hawala transactions, Satyam scam, chit fund scams, Ketan Parikh and Harshad Mehta, to name a few. They admonish towards the fact that banks and financial institutions have to be brought under the radar of regulatory and enforcement agencies. The cash transactions also have to be dragged under certain threshold limits.

    The success of RICO Act of USA, originally used to prosecute US Mafias US involved in organised crimes during 1980s, led to number of trials and convictions. It has a strong harmonious network with various enforcement agencies. On similar lines, creation of SIT on black money as a watchdog has taken a leap in investigation of black money in and out of India. As per the latest report of SIT, the data provided by the enforcement authorities shows that there are gaps in monitoring trade flows which are used by unscrupulous elements to take out precious capitals outside the country and thus damaging the fabric of the Indian economy and in order to deal with the same, the SIT has asked RBI to establish an institutional mechanism to track illicit financial flows and share data with other law enforcement agencies such as ED,DRI and CBDT and from the said data base various agencies can gather the relevant information for taking early appropriate action. This is so since the data available with one agency can be relevant to action expected to be taken by other law enforcement agency.

     

    What is the role of national and international agencies to curb issue of money laundering?

    Various special courts have been set up by the virtue of this Act for the purpose of trial of scheduled offences. The Enforcement Directorate has been responsible for the investigation and Prosecution of cases under PML. The Financial Intelligence Unit India (FIU-IND) is the nodal agency for the dissemination and analysis if the information pertaining to the suspicious financial activities. Apart from these, RBI, SEBI, CBDT, Police have been active at different levels to look into flow of Black money.

    At the international level, with the initiatives of UN Financial Action Task Force (FATF) was formed in 1989 to set standards and formulate policies to combat money laundering. It is today one of the most efficient organization working towards this directions, especially on Combating the Financing of Terrorism (CFT).  UN and many .other nations have enacted stricter laws on money laundering as well.

     

    What preventive measures are taken to curb the flow of black money? 

    Government enacting Black Money Act 2015 has been seen showing light at the end of the tunnel from where undisclosed foreign income enters into Indian system as it has stricter penalties for offences since it was the need of the hour. Also India has signed many Double Tax Avoidance Agreements, SIT has been setup to investigate this issue, and Income Declaration Scheme 2016 have been introduced, strict KYC norms to be followed by banks, Tax Information Exchange (TIE) Agreements are proposed and many other precautionary measures have been taken.

    SIT has been proposing several recommendations in this regard such as a ban on cash transactions above Rs. 3 lakhs and restricting cash holdings with individuals upto Rs. 15 Lakhs; then it has suggested to establish KYC registry; prior detection of the shell companies with the help of intelligence gathering and entrusting Serious Fraud Investigation Office (SFIO) to regularly mine the MCA 21 database for certain red flag indicators; to check upon the misuse of Participatory notes through KYC norms so as to detect the beneficial owner with the help of PAN card number. It has also suggested that all the cases pertaining to trade-based money laundering should be shared with ED by DRI so as to initiate investigation under PMLA. Therefore, our law-makers have set up the panacea to the problem of black money but its effective enforcement will be testified over the time.

     

    What are the loopholes in the current legal regime in India? 

    So far as prevention of money laundering is concerned it has been fairly able to do justice, but still it has certain grey areas. Real estate sector, jewellery and bullion, and NGOs are the most vulnerable sectors for occurrence of illicit financial transactions. Inadequate scrutiny structure for cash transactions, inefficient system to preserve confidential financial system and liberal attitude towards the non taxpayers are a few areas where our legal system is lagging behind.

    As, a defence lawyer of prevention of money laundering cases, it has been observed that the process of attaching properties of the accused by ED has ,mostly been done even before filing of any criminal complaint or a chargesheet been filed and thus infructuous. There is a lot that has to be done by all the vigilance authorities other than targeting big names and getting affected by media trials. The present situation demands major amendments in the grounds/process of attaching the properties under PMLA as till date this process has turned out to be absurd.

     

    What were the challenges you faced in shaping up your career as it stands today?

    There is no competition or challenge in the space whereas there are challenges, struggle and obstacles on the road. I preferred to create a space and develop a niche, reign of the economic loss. I had beaten the competition or challenge through strategy executed with the support of a flamboyant team.

     

    What would be your parting message to our readers?

    There is no shortcut to the success except hard-work. Before entering into the professional reign, study the market. No client looks for the ordinary lawyer. Start your career as a champion and excel.

     

  • Raj Panchmatia, Partner , Khaitan and Co., on work experience in litigation and disputes resolution

    Raj Panchmatia, Partner , Khaitan and Co., on work experience in litigation and disputes resolution

    Raj Panchmatia graduated from Mumbai University in 2000. He is a partner in the Dispute Resolution Practice group in the Mumbai Office and has a rich experience in the field of dispute resolution and commercial litigation, both at domestic and international fora. He has advised clients on a wide variety of claims under Indian Arbitration Laws, SIAC, LCIA, ICC, UNCITRAL and HKIAC and has extensive experience in dealing with disputes under all forms of contracts and agreements. Raj also advises clients on litigation before the Supreme Court of India, various High Courts of the country, the Securities Appellate Tribunal and the Company Law Board.

    Raj has worked on a number of corporate and commercial litigation matters for various private equity investors, multinational and industrial houses of the country, including prominent infrastructure, real estate, automobile, defence, hospitality, public sector undertakings and ship building companies. Raj has also represented the Government of India on various dispute resolution matters.

     

    In this interview he talks to us about:

    • His work at Khaitan and Co.
    • Necessity of a mentor or guide.
    • Difficulties faced in the early days of practice.
    • How he keep himself abreast with latest industry news and trends.

     

    You graduated from Mumbai University in 2000. What was the legal profession like back then? What were your objectives as a law student?

    Legal profession back then was still technologically evolving. Those were interesting times,as law could be found only in books and not on Google. My senior told me – work hard and rest will follow.

     

    How is your work at Khaitan and Co.? Please tell us a bit about your work profile. What are the responsibilities you are entrusted with?

    I am a partner at Khaitan. My core area of practice is litigation and disputes resolution. At Khaitan, I have been fortunate to be part of some of the biggest litigations and arbitrations of recent times, in terms of value and significance. My clients vary from international companies, PSUs and Indian promoters in all sectors. Joint venture disputes seem to be in vogue these days, and I advise on many of them as well. As a partner in a law firm, soft skills play an equally important role as legal skills. As a Partner your responsibility would also include building and managing a team which is effective and a practice which is robust.

     

    How necessary is it to have a mentor or guide to handhold a young lawyer while still in the formative years of the profession? Did you have one?

    It is good to have a mentor and a guide in your formative years who is willing to guide you through the nuances of the practice, especially if one comes from a non-legal background. In my formative years I had an opportunity to train under some of the finest legal minds Late Mr. D M Popat, Senior Partner of Mulla & Mulla & Crige Blunt and Caroe and Mr. D D Udeshi, Partner of Udwadia & Udeshi as it then was. I also had an opportunity to work under Mr. D E Udwadia, who exposed me to corporate laws, which has been very helpful in dealing with corporate disputes of today.

     

    What were the difficulties you faced in the early days of your practice? How many years of hard work does it require to build a firm clientele?

    Let me put it this way, if you are willing to learn and work hard, things become easier. There used to be paltry sum of stipend (compared to what interns make these days) and hours were long. I never said no for any kind of work that came my way. As I don’t come from a family of lawyers, learning on the job was the most effective way. It was tough but satisfying. Unlike in the present times technology was not so easily available and research would take far more time. I had to learn the ways to complete the research efficiently and without missing any important points. This exposed me to a variety of laws, and I gained rich and vast experience. The crucial thing, which I feel I learnt from the experience, was to apply innovative and lateral thinking, despite time pressure.

    You build relationships not clientele. You need to build trust and provide consistent quality advice. There are no fixed timelines for this.

     

    Could you tell us about the atmosphere in each of the places you have worked and what one should keep in mind before joining?

    I have been part of a large as well as a mid-size organization. Each organization has its own systems, which essentially shows the values and beliefs of its founders/partners. Fortunately, every place I worked at had an atmosphere of trust and it felt like a big family, which helped me grow professionally as well as individually.

    I would say that before joining a firm, one should first understand the ethos of the firm as a whole. One should choose an organisation that is known for its integrity, value systems and has a work culture that allows its resources to flourish and bring excellence at their work.

     

    From an Articled Clerk to Advocate and Solicitor assistant at Mulla and Mulla and Craigie Blunt & Caroe, how did it happen? What are the important attributes for an Articled Clerk to work on?

    I joined Mulla & Mulla after I qualified as an Advocate and then went on to qualify as a Solicitor. In hindsight, it was perhaps one of the best career decisions I made as I found the learning curve to be extremely satisfying. My initial training in Mullas gave me a firm foundation. There was a lot of hard work, research and reading. Practice then was not slotted in compartments which meant,I got experience in various spheres of law.

    Once a candidate decides to become an articled clerk, and has chosen a master to learn from, it is then most important to put his full faith and trust in his master.  So decide well under whom and where you want to article, as this is the place which will make a lawyer out of you.

     

    How do you keep yourself abreast with latest industry news and trends?

    At Khaitan we have a very good initiative which is CLE (Continuous Learning Exercise) which helps all its advocates keep themselves updated. A CLE is a monthly session where all teams present updates from their respective practice areas, followed by a brief discussion. These sessions are very helpful as you get to interact with lawyers experienced in that field. I also read judgments, legal journals and magazines as time permits. Discussing and sharing issues with my colleagues is also helpful and often bring out new nuances and directions.

     

    You have authored articles in various Indian and International legal journals. Please share with our readers your experience.

    Writing is not something which came to me naturally. Having said that, once you make an effort and if the result is even partially satisfying, it is a huge gratification. I intend to explore this more. Of course my team has been extremely supportive in my efforts and credit must go to them as well.

     

    What would be your parting message to law students?

    I can only pass on which I inherited and strongly believe in – Be true to yourself and true to your work and the rest will follow. Never shy from working hard.

     

  • Akanksha Rajpurohit, Partner, The Legist, on work experience in law firm

    Akanksha Rajpurohit, Partner, The Legist, on work experience in law firm

    (more…)

  • Ms. Purvi Kapadia, Partner, Rajani Associates, on completing the Solicitors Exam and Private Equity practice

    Ms. Purvi Kapadia, Partner, Rajani Associates, on completing the Solicitors Exam and Private Equity practice

    Ms. Purvi Kapadia, graduated in law from Government Law College, with a gold medal, in the year 2002 and thereafter passed the Solicitors examination conducted by the Bombay Incorporated Law Society in October 2004. She has an experience of over 13 years in the legal Industry and is at present a partner with Rajani Associates. Interview by Kaushik Dessai of G. R. Kare College of Law.

    IN THIS INTERVIEW SHE TALKS ABOUT:

    • Successfully completing the Solicitors exam

    • Corporate practice

    • What it means to be a good private equity lawyer

    • Current reforms in Law

    HOW WOULD YOU INTRODUCE YOURSELF, GIVEN THAT MOST OUR READERS ARE YOUNG LAW STUDENTS and YOUNG LAWYERS?

    Hi. I am Purvi Kapadia, partner at Rajani Associates, a full service law firm. I handle the private equity practice of the Firm.

    WHAT INFLUENCED YOU TO JOIN LAW?

    Well… a lawyer is what I was meant to be. I am a third generation lawyer of my family and it came as a surprise to no one when I decided to study law.

    WHAT PROMPTED YOU TO PREFER CORPORATE PRACTICE OVER LITIGATION?

    Litigation practice can be very thrilling but also very slow moving. It is no secret that litigation can often be prolonged. As an articled clerk I got a chance to do a fair bit of both, litigation and corporate matters, and the fast pace of a corporate practice is what I came to like.

    WHAT ARE THE CHALLENGES YOU FACED WHEN YOU FIRST STARTED HANDLING PRIVATE EQUITY TRANSACTIONS?

    I am not sure if what I write here describes a challenge exactly, but it is something that I realised very early on in my practice as an important part of this practice and i.e. Negotiation. Both drafting the transaction documents as well as negotiating the same thrill me. But the later thrills me even more as no two negotiations are the same. I believe negotiation is an art that you master more and more with each transaction and you may not exactly start of by being good at it. I know I did not. I was just lucky to work with brilliant seniors then, from whom I could learn and better myself.

    IF A STUDENT OF LAW WISHES TO ULTIMATELY PRACTICE IN THE PRIVATE EQUITY SPACE WHAT WOULD BE YOUR ADVICE?

    While most private equity transactions revolve around the same concepts, rights and obligations, it is very important to understand that the pulse of every transaction and client is different. What may have seemed like the perfect deal for one transaction could work very differently for another transaction. Also, the business and structure of the company in which investment is proposed, as well as the management set up, holds most relevance, and the same must be understood minutely. Lastly, while a due diligence is most often considered as a routine act that simply needs to be swept out of the way, what one must remember is that the findings of a diligence exercise are in fact the very foundation of any transaction. A lot of the drafting of the transaction documents in fact depends on the findings of a diligence. Anyone wishing to practice in the private equity space must first start with doing diligence exercises and understanding the impacts of its findings.

     YOU HAVE CRACKED THE SOLICITORS’ EXAMINATION CONDUCTED BY THE BOMBAY INCORPORATED LAW SOCIETY. THE SAID EXAMINATION IS WIDELY KNOWN AS A TOUGH EXAMINATION. COULD YOU TELL US ABOUT THE STRUCTURE OF THE EXAMINATION?

    Yes, the solicitors examination is a very challenging exam. It is a great feeling to pass it. The examination is set to test ones practical knowledge rather than just theoretical knowledge. Also the questions are interwoven to cover various subjects, so it is never enough to just know the subject of which you are writing the paper. One needs to know all the other subjects as well. It most definitely is an exam that helps you gain multi dimensional knowledge and apply the same.

    WHAT WAS YOUR SUCCESS MANTRA FOR ACHIEVING SUCCESS IN THE SOLICITORS’ EXAMINATION?

    There are no shortcuts for passing the solicitor examination. If you fall in love with each of the subjects you are studying and study the same methodically, you are sure to get through. The key is not to study each subject in isolation but to understand how these laws are interwoven and interdependent. When you read a case study, you should be able to think of all the facets of law that would apply to that particular case study and not just the subject law for which you studying/ writing the paper. This is exactly how you then move on to deal with your clients in real life practice.

    AS A PARTNER AT RAJANI ASSOCIATES, WHAT IS AN AVERAGE DAY AT WORK LIKE? OUR READERS WOULD LOVE TO HEAR ABOUT THE DAY-TO-DAY RESPONSIBILITIES WHICH NEED TO BE HANDLED BY SOMEONE IN YOUR POSITION.

    From simply executing work a few years back, at this position I now mentor my team. An average day at work means a lot of interaction with my team. It is usually conversations revolving around the transactions on hand or changes in law.

    YOU HEAD THE PRIVATE EQUITY INVESTMENTS AND JOINT VENTURE TRANSACTIONS AT THE FIRM. HOW DID YOU BUILD UP YOUR EXPERIENCE IN THE PRIVATE EQUITY TRANSACTIONS?

    I have had both – skilled seniors and skilled teams on the opposite end. Both private equity and M & A transactions entail not only good drafting and reviewing skills but also thorough negotiation skills. From the first transaction I negotiated for – to the last, I have seen myself grow in confidence. Needless to add the seniors I have worked with have taught me a great deal. At the same time, if you keep an open mind you will be amazed how much you can also learn from the seniors sitting across the table.

     WHAT ARE THE OPPORTUNITIES THAT THE PRIVATE EQUITY PRACTICE HAS TO OFFER? WHAT ARE THE ESSENTIAL REQUIREMENTS TO BE A GOOD PRIVATE EQUITY LAWYERS?

    A private equity practice exposes you to various laws, not just Indian but global as well. Also, although every transaction may have the same end intent of taking or making investment, I am yet to work on a transaction that would fit the same parameters as my previous transactions. Each transaction has had its own challenges, its own negotiation meltdowns and high points. In short, no transaction has ever been the same for me and that has been amazing.

    As for the requirements of a good Private Equity lawyer, I strongly feel that a good Private Equity lawyer must learn how to understand the pulse of the transaction at hand. A Private Equity lawyer must be careful not to treat each transaction and client the same as the previous one or straight jacket the transactions. Also lawyers often forget that negotiations are not a personal battle field. What the client needs or is willing to give up or is willing to hold on to no matter what, is paramount, and that it is for the lawyer representing the client to understand and act accordingly. Above all, it is important for the lawyers to guide their clients. Often clients are unaware of, or lose sight of, the immediate or futuristic challenges they may face on the completion or non completion of a transaction and the lawyer must help the client understand the same.

     YOU HAVE BEEN WITH RAJANI ASSOCIATES SINCE 10 YEARS. PLEASE TELL US ABOUT YOUR EXPERIENCE AT THE FIRM?

    Rajani Associates is a great learning ground. No transaction or assignment in this Firm is executed as a matter of fact. Instead, every transaction and every client is handled with utmost care and as a team effort. Every transaction is headed by a partner and the partner constantly imparts both knowledge and experience to the rest of the team. In these past 10 years, I have learnt so much from my senior, the managing partner – Mr. Prem Rajani (and I continue to learn), just as I have passed on knowledge and experience to my team (and will continue to do so).

     THE PARLIAMENT OF INDIA ENACTED THE INSOLVENCY AND BANKRUPTCY CODE 2016. WHAT IS THE EFFICACY OF THIS CODE AND WHY IS IT AN IMPORTANT PIECE OF LEGISLATION?

    Change is always good and especially change in law is always a positive step towards working with the need of the hour. Bankruptcy Code likewise, is a welcome consolidation, an overhaul, of the existing bankruptcy legislations. Providing a much needed relief to the existing debt market of India, an early and faster remedy to the lenders, the Bankruptcy Code is most certainly a very important piece of legislation for India. The efficacy of the Code will however, like any other legislation (new or old), depend on the execution and implementation of the Code. A number of agencies and professionals will need to work together and effectively, to make the Code a success, and it is certainly hoped that this is achieved.

    THERE HAS BEEN A SEVERE CRITICISM OVER PUBLIC SECTOR BANKS WRITING OFF BAD LOANS. WHAT IS YOUR VIEW IN THAT REGARD?

    I partake somewhere in this criticism. Writing off such huge amounts of bad loans does ultimately somewhere come at the cost of burdening honest taxpayers and affect the shareholders of these Public Sector Undertaking banks. While the entire write off may be treated as an accounting act, and although in reality the Banks do continue to pursue their debt claims against the defaulting debtors, the write off does take the compulsion off the Banks to pursue the bad debts.

    WHAT IS YOUR ADVICE FOR FRESH GRADUATES WHO WISH TO ENTER LAW FIRMS AS ASSOCIATES?

    Well, challenges in a law firm and a legal career are the same as in any other profession. Hard work and willingness to learn are paramount. Also, in this profession practical knowledge is very treasured. Reading of law, to its understanding, to its implementation, every step is crucial and this journey can be mastered only with experience.

    WHAT WOULD BE YOUR PARTING MESSAGE FOR OUR READERS?

    Studying and practising law is exciting. Hope to see you on this side soon.

     

  • Pradeep Jain, Managing Partner, Singhania & Co., Mumbai, on all about managing a full service firm

    Pradeep Jain, Managing Partner, Singhania & Co., Mumbai, on all about managing a full service firm

    Pradeep Jain qualified in law from Devi Ahilya Vishwavidyalaya in 2000. Thereafter, he joined Singhania & Co. in 2002 and was soon rewarded with partnership in 2004 for his excellent work in the Corporate Practice & Maritime Laws. He has played pivotal role in a number of big joint ventures and corporate takeovers. He is also regularly engaged by the Institute of Company Secretaries of India, New Delhi, to deliver lectures on various subjects related to law.

    Pradeep frequently advises clients on matters relating to the development and control regulations, policy and regulatory matters, compliances relating to Securities Exchange Board of India, Reserve Bank of India, Insurance Regulatory & Development Authority and Foreign Investment Promotion Board. He regularly advises vessel owners, charterers and P&I clubs on various maritime laws. Pradeep also represents his clients in international arbitrations under the Singapore International Arbitration Centre, Singapore Chamber of Maritime Arbitration and London Maritime Arbitrators Association. He is vastly renowned for his acumen in liasoning with the Foreign Investors Promotion Board (FIPB)/ Secretariat for Industrial Assistance (SIA) in the matters related to Transfer of Shares from Resident to Non-resident, foreign technical collaboration, liasoning with the Securities Exchange Board of India (SEBI) filing various form or Report in the matters related to Takeover, Mutual Fund, Assets Management Companies, Trusteeship, Custodian, Foreign Institutional Investors etc.

    In this interview Pradeep talks to us about:

    • His experiences working with Singhania & Co.
    • The importance of a mentor in a junior lawyer’s life, and important traits any law aspirant should cultivate
    • Networking and the legal profession, and
    • His valuable advice to all the young lawyers/students/aspirants out there.

     

    How would you like to introduce yourself to our readers?

    A lawyer by profession, I am the Managing Partner of the Mumbai office of Singhania & Co. I come from a family of businessmen; however, my fondness for academics led me to gathering multiple degrees in the fields of science, mathematics and law and finally pursue a career as a lawyer. I joined Singhania & Co. in the year 2002, and actively worked under the tutelage of Mr. D.C Singhania, the Founder of Singhania & Co. and a veteran lawyer widely recognised for his dexterity in the areas of litigation and arbitration. Thereafter, in a short span of 2 years I was promoted to Partnership and there has been no looking back ever since.

     

    Going back to your graduation days are there any anecdotes you would like to share?

    It was a very interesting journey. You would be surprised to know that I never wanted to be a lawyer, but my Mom was convinced I would be a litigating lawyer, as I would always grab opportunities to show case my oratory skills, and of course pick up arguments.

    I loved studying mathematics and science and wanted to pursue a course related to these subjects. So my first effort was to appear for medical examinations and be a doctor. Unfortunately, I couldn’t sit for the exams due to personal exigencies. Thereafter, I decided to not waste a year and ended up pursuing a degree in mathematics and went on to pursue my Masters in it.

    I didn’t want to stop studying so I undertook the company secretary course during which my mentor Mr. Sunil Jain, advised me to explore law as a profession.

    I took his advice and I have loved every moment of this profession!

     

    How do you recall the first few years after qualifying in law?

    I have always felt that I have been fortunate and lucky in a lot of scenarios in life. I have been lucky to get picked first, or noticed in a group, and this is what happened with me in Singhania.

    The first few years of my career were nothing short of absolute delight.

    My partner, Mr. Sameer Rastogi, whom I was assisting in the initial days of my career at Singhania in 2002, liked my research skills and ideas of solutions to client issues and legal opinions drafted by me. He ensured that I was a part of important client mandates. He never failed to mention my name in other offices which helped me work and interact with different offices of the Firm and definitely aided my quick promotion to Partnership in 2004.

    Everyday brought in new avenues to learn and grow. Luckily, I was part of a firm that pushes lawyers to get out of their comfort zone and handle matters with independence. We were not treated as “Associates” working for a monthly compensation; we were instead treated as active, thinking and performing individual professionals who have the capability of servicing clients with minimal supervision.

     

    Please tell us about the relevance of a mentor as a young lawyer, how did you find your mentor?

    Having a mentor in the formative years of your career is definitely important. When we enter a new professional field, especially the legal industry, we have certain ideas about the profession in our head, and it is easy to face disappointment if we do not have a guide to help us understand the profession. Mentoring helps individuals understand the practical aspects of law and provides necessary guidance to assist individuals in making rational career decisions.

    At the cost of repetition, I would say I was fortunate to have Mr. D. C Singhania as my mentor. I was extremely surprised at the humility of one of the most sought after lawyers in India and his down to earth personality. Besides honing my legal acumen, he has helped me understand the importance of the nobility of our profession. He encouraged each and every lawyer including interns to express their opinions on matters and be independent in handling matters. If you trace the history of our Firm, you will know that through his mentoring he has instilled the confidence in many lawyers who are now running their own firms or are successfully handling Partnership positions.

    I never thought that I would end up as a Managing Partner of a firm, however, as mentioned before, it was through the guidance of my mentor that I learned about my capabilities and my true potential as a lawyer. I was guided to take initiative and encouraged to shoulder both legal and managerial responsibilities leading me to where I am today.

    Even today, Singhania & Co. actively encourages all young lawyers to aim at being independent and self-sufficient. Our Firm follows an active policy of mentoring freshers and interns into confident professionals who possess the capability of sourcing and servicing their own clients.

     

    What role does academics play in the legal profession? Given that maritime law requires a lot of reading, how has it been in your case?

    It goes without saying that an affinity to read and keep yourself updated is mandatory in our profession. A student who is academically bright showcases this ability and therefore has a better chance in terms of placements.

    Having said that, academics is one of the many ingredients that make a good lawyer. One needs to be interesting enough for clients to notice you and that involves having great people skills. Being persuasive, having a flair for writing, ability to network and socialise professionally are some of the other key components that will give young lawyers an edge over the others.

    A popular lawyer is usually a person who is blunt, bold and can mesmerise the court or audience with his words.

    To have such qualities you must have knowledge of history, philosophy along with knowledge of statutes. The more you read more confident you are to interact with your clients and fellow professionals.

    I always tell students, juniors that when you are younger, you will get time to read. So please learn as much as possible because as you grow, no matter how much you are earning, you will not get time to read.

     

    You are noted as one of the leading maritime lawyers in India. Very few students focus on maritime laws during their formative years. Could you tell us more about maritime practice in India?

    Hahaha (blushing).

    Shipping laws require extensive reading and research. Moreover practice of maritime law is not restricted to one country and in most of maritime arbitrations we deal with, English laws are applicable and one must be aware of the laws, rulings and authorities to be fully prepared for arbitrations.

     

    Founded in 1969, Singhania & Co., has been one of the very few law firms to have maintained a steady practice for all these years. Tell us more about the firm and its heritage.

    Singhania & Co. as mentioned earlier was founded by Mr. D.C Singhania in 1969. Mr. D.C Singhania is a highly respected lawyer with over four decades of experience.

    He was very well aware of the industry and its potential. He also recognized the importance of treating the profession as a service and keep the clients interest at paramount. He always emphasized on delivering good service to the Client.

    Mr. D.C Singhania, was innovative in his approach and avoided a lot of stereotype functioning of firms back then. While the popular trend was to be recognized for practicing in a particular court, he went on to successfully argue in various forums and didn’t restrict himself just to the High Court or Supreme Court.

    This is also why world best lawyers associations like “Lex Mundi” and “Terralex” felt announced Singhania & Co as first Indian member law firm.

    Over the years our Firm has been in involved in various noted arbitrations such as Western Company of North America v ONGC, and Alsthom v Railway Board of India amongst others. Our Firm has represented over 1000 international client organizations with their matters in India or abroad including fortune 500 comp

    Currently, Singhania & Co. operates out of 10 offices including an office in London. In India we have offices in New Delhi, Mumbai, Hyderabad, Indore, Bangalore, Kolkata, Chennai, Ahmadabad

    The breadth of our practice includes Admiralty, Anti-Dumping, Aviation, Arbitration & Dispute Resolution, Banking, Securities and Financial Services, Corporate &; Commercial, Infrastructure, Intellectual Property, Joint Venture & Technology, Litigation, Mergers & Acquisitions, Technology Transfer, Project Financing, Capital Market, Private Equity and Fund, Securitization & Structured Finance and Taxation laws.

     

    Please tell us about your journey at Singhania & Co.?

    My journey in Singhania is as dramatic as my entry.

    Interestingly, I had to go the ICSI regional office and I ended up at the office of Singhania & Co. Once the seniors spoke to me and heard about my profile, they decided to take an interview and I was hired!

    Since then, it has been a wonderful journey. I have learned a lot about the profession and I guess I am still learning!

     

    We are very curious to find out how do you find time for yourself despite heading busy offices in Mumbai and Indore? What would be your tips to the young lawyers on time management?

    Haha. My friends never find me reading and my clients never see me executing works except on meetings. In fact I don’t take up my role as a Managing Partner as work.

    I like doing it and I treat it as fun and I end up having fun. I love the energy and rush involved in solving legal issues and that is why I never feel tired. I believe that if you enjoy your work and don’t take work as a task and then you will see that you are full of positive thoughts and energy.

    It is very simple. If we can sincerely work (with minimal or no distractions like calls/facebook/whatsapp etc.) for at least 8 hours a day, we can accomplish a lot more than we imagine. Being busy is dependent on how sincerely you manage your 24 hours. As a junior, my job was to be well equipped with my research and ensure that all deadlines are met. I therefore dedicated my time in office towards working and/or reading up in case I was free. That way, I would always have time for myself when I was back home. My role as a managing partner requires me to delegate and ensure that the work gets done. I also shoulder the responsibility to keep my clients and my team happy. I dedicate my time in office towards the same and still find time to pursue my interests.

     

    We have seen that many law students are faced with tough choice between attending classed and pursuing internships. What, according to you, should be the correct balance between academics and practical exposure?

    I would suggest students to take time out from their courses to intern as much as possible, as it provides a lot of practical experience and knowledge about the legal industry which cannot be learnt through books but at the same time they should not make life too serious and try to find ways to maximize once output in lesser time.

     

    Due to developments in technology and advancement of social media, networking and connecting across globe has become much easier. How have these developments affected the legal profession and the way in which lawyers have been working so far?

    Absolutely! Much has changed in terms of technology and for the better!

    It is much easier to network now than it was 15 years ago. It is easier to interact with a lawyer/firm you intend to work with even before you have met the Firm. It is much simpler to verify details about a particular firm/person now than it was a few years ago. That is how much technology has evolved.

    Networking sites allow lawyers to not just network but also freely exchange and share knowledge and insights on various laws and its impact.

    If used wisely, it is a very strong tool for a lawyer and can help us make our noble profession nobler but it has some draw back as well which should be fixed. I see young generations spend a lot of time distracting themselves on social media which eventually decreases their productivity and also sometimes explains unnecessary longer working hours!

     

    Finally, any word of advice for all the young and aspiring lawyers?

    Be bold, blunt and honest. Pursue power through your hard work, knowledge and never forget your responsibilities towards society.

    Self-evaluation helps you become a better professional and to excel when pitted against both contemporaries and seniors!

    Life is not a race but definitely a marathon so invest in yourself and in knowledge and not money in your early years.

  • Kapil Sankhla, Founder, Sankhla & Associates, on litigation and managing a firm

    Kapil Sankhla, Founder, Sankhla & Associates, on litigation and managing a firm

    Kapil Sankhla qualified in law from Campus Law Centre, Delhi University in 1999 after gaining a B.Com degree from Shri Ram College of Commerce and another degree in Hotel Management from IHM, Pusa. For the better part of his law school, he engaged in a long term internship which prepared him to take on litigation with ease even as a fresh graduate. He is the Founder and Managing Partner of Sankhla & Associates, based out of New Delhi.

    In this interview he talks to us about:

    • His pre-law school days and passion for debating
    • Decision to pursue law and the inspiration behind it
    • The importance of reading as a habit and a passion
    • His life at law school
    • Starting up with Sankhla & Associates

     

    How would you like to introduce yourself to our legal amateurs and professionals?

    The learning never stops and I believe that I too am a student of law, albeit a few years your senior! I practice and perform not in a moot court but in real life courts and like any other student of law, I compete and collaborate every day. As a first generation lawyer, I have gone through my share of self doubts, trials and tribulations and have realised that the journey is its own reward. It has been a beautiful journey so far mixed with struggles, success, challenges, more struggle and more success and the graph continues to waver. I have realised, the harder I work on the basics of law, the simpler things get. I am enjoying every bit of this amazing profession where I get to understand various levels of issues and strategise and grapple with various aspects of law every day.

    As a lawyer, my mantra, my life philosophy, and the philosophy of the firm which has worked in Court battles against the biggest and the strongest opponents, and which I would like to share with our young readers is -tenacious resolve, which means stick on-hold tight, despite all odds, and your time will come.

     

    Tell us about your childhood and pre-college life. Was it your all time dream to be in the legal profession?

    I was an average student which, according to teachers would mean not very bright, but I loved (and still do) to read and was a very imaginative child. I believe that it is your education and not your studies that make a success out of you. If I had to advice, it would be-keep reading, it doesn’t matter what you read, just keep reading, and trust me all that information, however random is churning and stirring up ideas and dialogues which will hold you in good stead in the profession, irrespective of whether you become a litigator or do chamber practice.

    As a child, I think I wanted to become a writer, which I realise I can very well do even now, and best part is, there cannot be a better profession than this!

     

    What incidents, influences or interests prompted you to think of law as a career?

    I remember the first time I saw legal luminaries like Mr. Ashok Aggarwal and his famous interview where he chose morals over a client, got me interested in law as a profession and got me hooked on to it; Mr. Ram Jethmalani being in the news with Harshad Mehta made me want to stay in the profession; reading about Mr. Nani Palkivala made me want to reach for the stars and briefing and interacting with (now) Justice U.U. Lalit ensured that my faith in honesty, fairness and humbleness is firmly anchored. Most lawyers don’t join law to become lawyers, for most, it is a stepping stone for something else. Fortunately, I am a part of the minority, as law chose me.

     

    Tell us about your experience at Delhi University. What all curricular and extra-curricular activities did you participate in?

    I have a very chequered past vis-a-vis the time post school. I got through SRCC but realised early on that it wasn’t for me, so I got into Hotel Management, a field where I did quite well. Throughout my college life, I was very active in theatre and debates and it was my passion to always speak against the motion and see how I am able to convince the audience. This caught my interest towards law as a field and I took the entrance, thinking ‘what’s the harm in trying?’ I didn’t think of law as a profession, when I took the exam, but when I did get through Campus Law Centre, DU, I took it up seriously and also interned with a lawyer for more than two and a half years while I was in college. This proved to my advantage as by the time I was in my third year I was confident about court visits and in-fact upon graduating as a lawyer, I handled a final argument matter within 19 days of registration.

     

    What would you advise our readers is the ideal things to look to get out of university, other than a degree?

    A university one looks for to study should definitely have a good name and reputation. It should encourage real life examples in terms of case research and also encourage participation in moots, etc. Any university which promotes practical learning as well as theoretical learning is an ideal University to be in. Alumni of the university and their performance in the real world also has a bearing on whether the University would be able to provide what one is looking for.

    I would advise you to enjoy yourself to the fullest. Be foolish, make mistakes, learn and enjoy. Participate in whatever activity takes place, you’ll never have the opportunity to probably get away with mistakes once you become a lawyer. Enjoyment is integral to being a college student, it is indeed a time wherein one needs to relax as once we are thrown in the profession one must not forget what the stars of the legal profession have said again and again “Law IS a jealous mistress!” and there shall be hardly any time for leisure as such!

     

    You founded a law firm that is doing very well today. What challenges do you think someone who wishes to start a firm or independent practice is likely to face? What would you advise them to do to mitigate such circumstances?

    It is not easy to build a practice in law, yet not impossible either. The challenges one faces are manifold. Convincing clients to assign and engage a new firm/independent lawyer is the most important one. It is imperative that the clients approaching a new firm/lawyer should be able to get a level of comfort to be able to engage the firm as their lawyers. Necessary infrastructure to work from is also required. A decent library and efficient work staff goes a long way to enable a lawyer to concentrate on his job, leaving aside worries of billing, file management, correspondence and follow up with clients. A good support team to handle such issues coupled with dedication and hard-work should help any lawyer achieve pinnacles of success.

     

    Presently you are the Managing Partner of Sankhla & Associates. What falls within the scope of your responsibility?

    As the Managing Partner of the firm, I have the responsibility to bring in new clients, hire new Associates, make alliances with international and national firms to enable a global presence of the firm. Motivating my team and encouraging them including pointing out spheres of improvement also constitutes a large part of my role. I have to ensure that not only does the team work to their optimum potential and a bit more, but also that they get their fair share of fun, recreation and feel connected to each other as a team and a family. This ensures all round development of the firm and relations therein. The growth and success of the firm is a team work with the Managing Partner at the helm of all affairs.

     

    While hiring new lawyers what kind of skills do you look for in them?

    A promising CV entails besides a good grade, involvement in moot courts, research and an active college record. As a student, it does speak volumes if your CV boasts of a reputed college, a healthy participation in moot courts and debates, internships involving firms and lawyers handling various aspects of law and published papers and articles, if any.

    However, apart from the aforesaid, the interview matters in itself which would be the ultimate judge of what is written in the CV and the impression that one carries to the interviewer. Be honest about what you put in the CV. Knowledge of different subjects and specially the one which is a preferred choice does really go a long way to secure a job in the place of choice.  But above it all, the one thing that we really look for when we hire someone is the hunger to win and the desire to make a difference. If someone has that, then really, nothing else matters!

     

    What kind of effort should a young Associate put into work to get it appreciated? What distinguishes an Associate from a Partner when it comes to work?

    Besides hard work and dedication, self-motivated effort and initiative definitely invite appreciation. A young lawyer who takes initiative to draft out matters, research and provides innovative suggestions and a different solution to a matter, would always get appreciated.

    An associate is expected to do all the base work from research to initial drafting, coordination with interns, junior associates and clients, if necessary. He will make sure that the strategy as has been suggested by the Partner and all points discussed in the Partner-Associate meeting are followed and put it on paper. Thereafter the Partner takes over to give a final check to the draft, strategy check and additions wherever required. Partners bring in work and are instrumental in firm management, its promotion and alliances: both national and international. They are expected to bring in work, infrastructure and the support needed by the team for execution of work.

     

    What would be your advice to our readers?

    Choose what you want to do. There are many lawyers who want to be researchers, conveyance and pleading solicitors, arguing counsels all rolled into one. The rest are dreamy eyed and want to become Corporate Lawyers because it pays well. Work on your strength and choose the facet of law. Polish it every day, enjoy it to the fullest and work hard- very hard and the world is your platform and sky is the limit.