Super Lawyer

Category: Partners, General Counsels and Senior Advocates

  • Manisha Chaudhary, Managing Partner, UKCA & Partners, on leading a law firm and Masters from Cornell

    Manisha Chaudhary, Managing Partner, UKCA & Partners, on leading a law firm and Masters from Cornell

    Manisha Chaudhary graduated in law from Amity Law School, Noida. She went on to pursue her LL.M. from Cornell Law School, focusing on corporate laws. She is now the Managing Partner at UKCA and Partners (formerly UKCA Law Chambers).

    In this interview, Manisha discusses:

    • Her childhood experiences that pushed her towards choosing law as a career.
    • Her considerations while choosing the best university to do an LL.M.
    • The methodology she uses to research and write articles
    • Her views on the legal education system in India

     

    How would you like to introduce yourself to our readers?

    I am presently the Managing Partner at UKCA and Partners (formerly UKCA Law Chambers), a law firm founded in the year 1986 by my father, Mr. U. K. Chaudhary, an eminent Senior Advocate. He had to disassociate from the firm when he was designated as a senior and the firm passed on to his juniors.

     

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

    The first question I usually get asked when I meet someone is “So, when did you decide to be a lawyer?” And honestly, my answer usually is “Ummm, I was born to be one!”

    My parents had always encouraged my brother and I to follow our dreams (even if we fell flat on our faces, they were always there to support us). My parents thought that I would take up medicine as a profession, and as a matter of chance I was great at all the science subjects. However, during school, I took keen interest in debating, dramatics, creative writing, the book club, and such related co-curricular activities, which I assumed would help me expand my intellectual abilities. I am sure if Philosophy was a subject in high school, I would have been the first to enrol.  For me, it has always been about gathering information and being fully informed on various subjects, even if it may be of no concern in my life or to me. My closest friends call me Ms. FYI – For your Information! As a child, I would have my parents sign illegible handwritten contracts to make sure I get paid in cash or kind for the chores I had done (which were often repudiated by my mother!). I would sit in my father’s office for hours reading law books at random, which at the time made no coherent sense to me; sibling disputes were handled in the High Court of Mother and I would put across detailed arguments on how I had been wronged and have my brother pay compensation. So far as I remember, I would bolt to our front gate to get the High Court ‘Cause List’ to find my father’s name, read his files and point out the grammatical mistakes (concepts of legal English were lost on me) and organise the office files and Bare Acts. I would strut into his office and take dictation from his juniors and then type it out for them, which they sportingly let me do.

    I truly believe that the inclinations towards the right subjects, an inquisitive attitude towards life, and the constant need to learn and try new things, are inherent qualities of every lawyer and the very fact that I declared myself to be a future ‘financial’ lawyer to all my near and dear ones in the 8th grade did it in for me.

     

    What led you to choose legal profession?

    Whenever someone sought advice from my parents whether one should pursue a career in law, they would categorically say the following:

    1. The profession requires hard work, dedication and perseverance.
    2. You will have to constantly read, study, and keep yourself up-to-date for the rest of your life.
    3. You may have to give work priority over family and friends, and finding a balance will be a challenge every day.
    4. You will always be busy and rushing everywhere.
    5. There is no retirement.

    After hearing this, I was instantly hooked.

     

    Tell us about your experience in Amity law School. What all curricular and extra-curricular activities did you participate in?

    Amity Law School, Noida was in its infancy when I joined. There were not many rules and regulations which barred us from enjoying the ‘Delhi University’ style college life. However, within a year or so, everything settled down and Amity became like any other law school, with the added advantage of foreign educated faculty and international level infrastructure. Amity was and is notorious for being elitist and grandiose but lacking in terms of quality education. However, I beg to differ. Amity is much more than scoring marks, preparing for moots and planning to be an associate in a big law firm. It is a wholesome college experience. Since it is one huge campus for all departments, there are many inter-departmental competitions, festivals, sports meets etc. that gives a young student the opportunity to not only learn their subjects but also learn from other streams. While at Amity, I actively participated in intra-class debates, inter-college competitions, essay competitions, a few national level moots, went on court visits, helped organise events etc. I even participated in cricket and volleyball matches! Since every class at Amity was more or less a group discussion, staying on top of the subject was important. Amity truly teaches you how to survive in a cutthroat world and to bring your ‘A game’ at all times.

     

    You hold a masters degree in law from the prestigious Ivy League school Cornell University. How well did your experiences there prepare you for your current responsibilities?

    I aspired to apply only to Ivy League institutions and hence all my efforts in law school and at work were to make sure to have the minimum requirements of marks, moot competitions, publications, work experience, court appearances and professional growth. I worked fulltime for two years because I wanted to have at least a basic knowledge of corporate laws before specialising in the subjects that I accordingly elected. I know that many people prefer to apply for their masters right out of law school, and do exceedingly well. However, I differ on this approach. I believe it is important to gain some work experience prior to applying as it helps you determine what field of law you would like to specialise in. Most of my classmates had previously worked as lawyers or paralegals and it gave me the opportunity to learn from them.

    Cornell is known to be a relatively easy Ivy to get admission into but the most difficult to graduate from. The courses are multi-dimensional and challenging. All the subjects I pursed at Cornell were specialised topics, and were taught by professionals from New York City and seasoned professors. To truly learn, it is important to not just sit in class and take notes, but to actively engage with the professors and lecturers and to pick their brains.  I sincerely think that I would not have been able to truly extract the essence of the courses, if I had no previous work experience in the same field.

    Having experience gave me the ability to compare what I know to what I was learning and hence I could discuss with other students and professors how to grow professionally and overcome the challenges faced at work. The exchange was mutual ofcourse, because I was able to help my classmates understand the Indian legal system and clarify many of their doubts as well. While at Cornell, I gave a lecture on the Indian Constitution and had students and professors attend the same. It was a feeling of humble pride and an ecstatic high. Cornell does not grade its LL.M. students but rather offers “comments” such as Unsatisfactory (meaning that you have to take the course again), Satisfactory, Honours and High Honours. They believe that since master’s students are scholars they cannot be judged, as there is no “right” or “wrong” interpretation of law. This experience of formulating an opinion on a subject of law and having the same appreciated, even if no one agrees with it, genuinely gives one a tremendous sense of achievement.

     

    How should one assess their LL.M. program? What are the key factors to be kept in mind while applying for LL.M. in different universities?

    First, an LL.M. program or college should not be solely evaluated on the rankings given by various news agencies. The statistics are based on a variety of factors, which can be highly manipulated and hence are not the best tool for assessment. Second, it is important to speak to Alumni, who can guide you and offer you the best advice regarding the school and the course. Third, do a comparison of colleges on factors which are important to you. For example, Yale is an excellent law school but I did not think it was a good fit for me because it is more academically inclined and I wished for a college which is more inclined towards the industry. Fourth, consider your long-term goals. Before choosing your college of choice, you need to establish the reasons why you wish to pursue an LL.M., how it will help you achieve your career goals, what are its post qualification prospects, etc. Fifth, thoroughly research the faculty, the class size, internal policies regarding LL.M. students, how courses are allotted etc. Cornell and Yale have an average of 80 persons per LL.M. batch whereas NYU has an average of 400, hence the classes you wish to take may not be available to you. You can best assess an LL.M. course by reading up on it and speaking to the Alumni, who are more than willing to help. Do not be afraid to ask questions, even if they seem condescending, after all, you are spending a huge amount of resources on an LL.M. degree. To apply for an LL.M. course keep the following “Cs” in mind:

    1. Cost– it is very important because an LL.M. does not guarantee you a dream job, and hence it is important to have your funding in place. In case you plan to take loans, then a plan to clear your debts is important.
    2. Course– do a thorough analysis of the subjects offered and whether they are in sync with what you would want to specialise in and the future prospects of the same.
    3. Country– United States of America and the United Kingdom are not the only two countries, which are popular for LL.M. courses. Many students choose to go to Continental Europe or the Middle East to truly expand their horizons in their chosen field of law.

    Once you have these three figured out, the rest is easy. It will all fall in place once you get there and you will make lifelong memories.

     

    Presently you are Managing Partner at UKCA. What falls within the scope of your responsibility?

    Being a Managing Partner of a firm that is constantly growing is full of challenges. We have a very simple internal structure and I am thankful to each of my employees, associates, and partners for helping me execute my vision for the firm. My foremost responsibility is to consolidate the interests of everyone in the firm and make a comprehensive plan for implementation. Being a Managing Partner also puts me in the shoes of a business owner and hence I make monthly goals for my formidable team to work on. Meeting new clients and promoting the firm is my second responsibility and one that I am constantly learning and improving on. My third responsibility is to oversee finances, appraisals and compliances of the firm. I am also involved in administrative aspects of the firm and look into procurements, subscriptions, memberships, disputes etc. However, my most vital responsibility is to each of my clients and hence every document which goes out of my firm is vetted and finalised by me. Though I can blindly trust my principal associates and partners to settle every document, I believe it also my duty to be personally involved in every matter and be available to clients with full attention to details of their transactions and litigations. I attend most court hearings and am always present on deal closings to assist my clients and my associates and partners.

     

    While hiring new lawyers what kind of skills you look for in their CV.

    The portion of any CV that I disregard is what law school the student is from. It is in my experience the worst measure of how good a lawyer is. The skills I am most interested in are work experience and drafting-research. No law firm is looking to hire first year associates for arguments in courts or lead negotiations and close deals. When hiring fresh law graduates, I want to see their results in moot court competition, creative writing skills and their personalities, whether they will be good fit for the firm and whether they have what it takes to survive long hours and hard work. The next portion to get my attention is usually grades as that can be a decent marker of your basic knowledge and learning skills. I then focus on languages and diversity the person may bring to the firm. If you pass these three criteria, you will be invited for an interview. A job at my law firm depends on the interview with the partners and other assignments which we will ask you to undertake.

     

    You hold certificate in Corporate Law and Governance from the renowned London School of Economics and Political Science, United Kingdom. How far are these certificate courses helpful? Tell us about the experience.

    Certificate courses, if used as a tool for continuing education, can be of great significance in the field of law one specialises in. Certified courses abroad can be in the form of summer school or standalone courses depending on what time of the year you apply. It is a great learning experience apart from being a mini vacation where you make new friends from various countries and different walks of life. In my LSE class, we had finance graduates, lawyers, CEOs, directors of companies, accountants, economists etc. The class was engaging and helped us get a sneak peak of problems faced by professionals in many countries and how we could learn from each other’s experiences. Certificate courses as a supplement to further your knowledge are a great tool and I would suggest a refresher ever so often, whether in India or abroad.

     

    You are an avid writer and have published various articles. How would you advise students to go about their careers with respect to research and writing, publishing grade academic papers?

    I consider publications to be an integral part of a student’s education and a lawyer’s career. Be it writing books, articles, presentations, or even comments on various blogs; it helps hone their research and writing skills. Every student or young lawyer should follow a systematic approach in their own way to writing articles, which will help to get the articles published. Also try to collaborate with seniors or other co-authors to write books, columns, blogs etc. The more publications you have, the greater the impression that you have what it takes to be a scholar or an expert. All colleges prefer students who have published work as it helps them gauge a person’s intellect to a certain level.

    I have written many articles (published and otherwise), prepared presentations for clients, prepared lectures to deliver at seminars for both myself and my father, and I have a very specific, stepwise approach to them all. I have to confess that I am truly a Google junkie. My first step is to ‘Google’ all the information on a subject and read as much as I can, both positive and negative comments, articles etc. to thoroughly understand a topic. The next step in my research is usually news articles available on the internet, and then I move on to articles and presentations by other professionals. All this helps me in getting a general idea of the topic. From here starts the actual process of research. I then peruse the Bare Acts on the subject to interpret the legislative intent and form my own views and opinion on the sections. Next I read the amendments, rules, circulars, and notifications etc. to make sure that nothing important has been overlooked. I also look up any proposed amendments, which may further help me understand the true intent of the law. I then go on to debate every point with my father. I am lucky to have an expert on corporate laws right at home and since it’s my chosen field of practice, I fully exploit every opportunity, though sometimes I am shown the door! Once I have decided on what my hypothesis on a certain subject is, I go on to read scholarly articles, both Indian and international, to understand how I may or may not differ from others. I also research case laws, which may be applicable or made applicable on my hypothesis of a certain subject. My research is usually complete at this stage and now begins the difficult part to put together all the research into a written form. Once I have written an article, I go through it repeatedly to make sure that there is a gradual flow of information and that is no diversion from the main issue at hand. Before submission, I do a plagiarism check, which points out any flaws my article may have. A few points to be kept it mind before submission are– always source you articles, try to be as original as possible, use precedents and do a proper edit for spellings and grammar.

     

    You have been regular guest lecturer at various law schools. How is the curriculum of a foreign law school different from an Indian one? What changes, if any, would you like to see in Indian legal curriculum?

    It saddens me to say that the Indian curriculum for law schools is very dated and impractical for today’s legal profession. The curriculum has been the same for the last few decades with minor changes and focuses mostly on the theoretical aspects of law, majority of which is not relevant for practice. Though some changes have been introduced such as moot courts, projects, and internships, there is still a vast scope for improvement. The quality of the profession is greatly affected due to lack of quality education. I believe we need a complete overhaul of the subjects being taught at law schools. I also believe that teachers, lecturers and professors have to conduct more clinics to teach students the art of presenting arguments, negotiations, trial advocacy, deal closing, preparing transactional documents etc. This will prepare the students for the profession and greatly improve the quality of lawyers.

    The curriculum at foreign law schools is also theoretical but is limited to only a few subjects. What I admire most about foreign law schools is the focus they have on how to make a student an asset for the profession. They make sure that a student who has graduated knows the profession and only has to start polishing themselves to become an expert. In India the approach is to push you into the profession and have you learn on the job, which is not beneficial for every student. I know so many young lawyers who give up litigation or transactional practice because they cannot deliver the quality of work their seniors expect of them. There is tremendous scope for students to elect subjects, which specialise in a certain area of law, such as laws for technology start-ups, laws for ethical hacking, laws for crowd funding, documentation for leveraged buyouts, preparing IPO documentation, investment banking etc. Such subjects need to be taught to give Indian students a level playing field with their counterparts abroad. We should also encourage inter-disciplinary courses where law students along with management students, bankers, engineering students or business students come together to solve complex transactional issues and learn to work on deals which will require understanding and cooperation between different professions. The Indian legal education system needs a more robust, dynamic and diverse curriculum to be of any use to new age lawyers or else we will be left far behind our global counterparts.

     

    You have also been providing pro bono services to social enterprises and start-ups. What is the source of motivation?

    I have been inclined to work towards certain causes relating to the environment, women and children, which have been close to my heart since high school. I provide free legal aid to social enterprises and start-ups that are working in the same field. If I am not able to help, I connect them with my friends who may be able to do so. I sincerely believe that our country has every resource to become a great nation. However, we lack the collective will to do anything about it. The motivation is to make a difference to the society in order to make it better for us all. Social enterprises and many start-ups, including NGOs are working day in and day out to help those who are less fortunate and I wish to be of some help, to the best of my abilities, in their struggle. If I can help them save legal costs, which could sponsor another tube well, or educate a young child, then why not!

     

    What would be your advice to our budding lawyers?

    I have some very simple advice:

    1. Research like your life depends on it. Do not open your mouth unless you have research to back up you arguments or legal opinion. Try to be informed and updated on a daily basis.
    2. Draft, re-draft and then re-draft again, thinking about each possible consequence of every sentence that you have written. Think not only from your client’s perspective but also from that of the opposition. Be honest and fair to the courts. Do not suppress any document or information.
    3. Be organised at all times. Deadlines have been given for a reason and priorities have to be set.
    4. Do not be disrespectful to juniors, seniors, judges, staff, etc. Maintain decorum in court and in office. Do not get personal, and lay yourself open to perennial criticism.
    5. Be ethical. No client or their money, position, or fame is more important than your allegiance to the profession.
    6. Be loyal to your employer and your clients who took a risk with you and give them your best at all times. However, you deserve to be treated with respect and do not let anyone make you believe otherwise.
    7. Try to learn from your seniors without disturbing them. Keep your ears and eyes open and you will pick up on many tricks of the trade.
    8. Do not try to be Ms. or Mr. Know-It-All. Even seniors with 40 years of experience do not know it all! Do what you are good at and strive to be better with each day.
    9. Bunker down, and do not be afraid to work late nights and long hours. You will reap benefits of your hard work.
    10. Enjoy being a lawyer, and take it as your life’s passion not as a bread earner, It is an admired profession but if you do not love it, leave now else you will always be miserable.
  • Jyoti Singh, Partner, Phoenix Legal, on experience in Banking and Finance Law

    Jyoti Singh, Partner, Phoenix Legal, on experience in Banking and Finance Law

    Jyoti Singh studied law at Maharshi Dayanand University and graduated in 2000. She worked for a while at Dhir & Dhir Associates as a Principal Associate and is now a Partner at Phoenix Legal.

    In this interview Jyoti talks to us about:

    • The reasons behind her career choices
    • Her experiences and learning curve while working with Mr. Jugal Wadhwa and Dhir & Dhir Associates.
    • Her views on the current legal education system

     

    How would you introduce yourself, given that most of our readers are law aspirants, lawyers-in-the-making & young lawyers?

    I am a lawyer who hails from Sonipat, a small city in Haryana, and currently a partner at a well-reputed firm thanks to my self-confidence, hard work, sincerity, and dedication.

     

    Which incidents, influences or interests prompted you to think of law as a career? If not law, what other options would you have considered for a career?

    My father currently practices in Sonipat and I have always seen him working very hard. He still wakes up at 4:00 a.m. and reads his briefs. His lifestyle used to fascinate me. But frankly, I had science as my subject in my 12th Standard. While I was taking up exams for pursuing a career in medicine, but after a detailed discussion with him about my future plans and career choices he ended by telling me that, “You argue so much, I feel you will make a good lawyer”. I laughed it off. But today I surely am a lawyer, though still trying to be a “good one”.

     

    jyoti-singh-1

    How would you describe your academic career while at M.D.U, Rohtak? What made you want to pursue an LL.M after your graduation from the same?

    I was one of those students in M.D.U., who probably never bunked a class but still had my own share of fun at hostel. I used to take part in debates and essay writings etc. I pursued a LL.M because I like studying, and frankly while choosing “Winding up by Courts” as a topic of my dissertation I never imagined that one day I would be ranked as a leading lawyer in Dispute Resolution and Insolvency (Ranked by Chambers and Partners 2015 and 2016).

     

    Did you indulge in any co-curricular activities such as debating or mooting while there?

    I participated in debates and moot parliament etc.

     

    What made you target a litigant’s practice straight out of law school?

    My father was and is my inspiration, he is a litigator so it came to me naturally.

     

    What would you say are the greatest learnings from your time spent with Mr. Jugal Wadhwa?

    In terms of law and procedure, it was an enriched legal experience where his knowledge of the same helped systematically build my foundations of law. While practising in the district courts and the High Court of Delhi, it exposed me to both the procedure and the original side of litigation itself.

     

    How did first-hand exposure to the legal system in all its glory affect or influence you?

    The deeper I went into the profession, the more I was convinced that this is what I want to do all my life.

     

    What prompted the shift to Dhir & Dhir Associates? How did your experience there differ from your earlier experiences?

    With Mr. Jugal Wadhwa, I gained a lot of experience in civil and criminal litigation after which I wanted to shift to a law firm. At Dhir & Dhir, I worked with a team specialising in proceedings at AAIFR and High Courts, and slowly started looking after work at various High Courts. The travel intensive nature of my work there increased my exposure to the same.

     

    Why the special interest in Banking and Finance Litigation with a special focus on proceedings under SICA and Insolvency proceedings?

    Dhir and Dhir has been a leading Firm in that area of law, hence it was only natural to have focused on SICA and insolvency proceedings.

     

    Again, when and why did you decide to join Phoenix Legal in 2010?

    Phoenix started in 2008 with a set of very dynamic professionals. I wanted to join a firm where I could grow with the Firm. I joined Phoenix, Mumbai office, in October 2010 as a Counsel and was made partner in April 2011.

     

    How did your previous experiences help you or influence you through the same?

    It helped be set up and grow through a litigation practice.

     

    Your current profile seems fairly commercial and finance-centric under a larger purview of corporate law, how did you come to chose the same as your area of interest?

    I would say that I started as a general litigator and I still do a fair bit of civil, contractual pre-litigation strategy and litigation/ arbitration. But, corporate, banking, and finance have been my core strength due to my extensive experience in these fields (be it advisory or disputes/ recovery).

     

    What has your experience in dealing with foreign companies been like? How do they differ, if at all, from local clients?

    Foreign companies are more professional in their approach but now the local companies are also reaching there.

     

    What would you describe the work atmosphere as? How does the same play out in terms of work load and cooperation among those working with you?

    Work atmosphere plays a very important role because you spend a majority of your time at the workplace. If your colleagues are helpful and seniors are motivating, then it surely acts as a catalyst in facilitating the growth of any individual and the organisation as well, because I believe that “Happy and successful Employees make a Happy and successful Organisation”.

     

    How taxing would you describe your work as, does it afford time for a life outside the office?

    I love what I do and I can’t see myself doing anything else. I am passionate about my work and hence it’s not taxing at all. I am an early riser, so I get my share of “me” time and remain much contended with that.

     

    Looking back, how different would your experience have been if you were at a national law university?

    Education systems makes a lot of difference. Surely there would have been a lot of value added.

     

    What is your opinion of the current legal education system for law students given the internship and material intensive five or three year programmes? How does the same affect your hiring policy?

    I really like the current education system. I see interns at my firm. Some of them “are very good lawyers in making”. We, in fact, sometimes absorbs interns as associates because we have first hand experience of their ability and attitude. I personally, in my team, have a few such examples of individuals who had interned with me and are/were working as associate.

     

    If you were a law student today, would you do anything differently? If so, what would it be and why?

    Yes, certainly. I would have done internships during my law course because getting exposed to practical side of law while gaining knowledge of the theory acts as a stimulant in becoming a good lawyer.

     

    What would your parting advice be to our readers?

    Work hard! Read Hard! Make books your best friend!

  • Ketan Mukhija, Senior VP at SREI, on role and skill sets required to work in an in-house position

    Ketan Mukhija, Senior VP at SREI, on role and skill sets required to work in an in-house position

    Ketan Mukhija graduated from NALSAR, Hyderabad in the year 2007. He has worked in foreign law firms like Jones Day and Herbert Smith. Thereafter, he returned to India and worked with two Indian law firms at responsible positions. At present, he works as the Senior Vice President (Legal) of SREI Infrastructure Finance Limited, one of the largest infrastructure financing firms in India.

    In this interview Ketan talks about:

    • His career trajectory from working in US & UK and then to India
    • Working in an in-house position as a career option for young lawyers
    • Structure of an in-house legal team in a large company
    • Role of an in-house counsel
    • Skillsets required to work in an in-house position

    Click here to read our earlier interview with Ketan.

    Please share with us your journey so far.

    It is has been a fascinating journey so far.

    After graduating from NALSAR, I started working in the western hemisphere and slowly and gradually, moved towards the eastern. I commenced my career with a firm called Jones Day which is an International Law Firm (ILF) based out of the United States, and has multiple offices across the world. I was working as part of the Merger & Acquisitions and Strategic Alliances team there. Thereafter I moved to Herbert Smith Freehills (HSF) in London. I got a dual qualification to practice as a solicitor in England & Wales within the United Kingdom.

    At HSF, I was working with Equity Capital Market Division, and got an excellent opportunity to work on big transactions. I was involved in the acquisition deal of Land Rover and Jaguar by Tata, which was a tremendous experience. While working for HSF, I had also advised Bradford and Bingley, which is UK’s biggest buy-to-let lender. The recession had just set in, so we represented and advised Bradford and Bingley on tracing of capital, drafting of prospectuses and related documentation.

    Thereafter, owing to personal reasons, I had to shift to New Delhi where I worked for a relatively short stint with two firms, Vaish Associates and Luthra & Luthra Law Offices in senior positions. It was a good experience because working for Indian clients was different where the work areas are generaI as far as the corporate area is concerned. In US and UK, we have very focused and super-specialized areas. In Indian firms, you pretty much pick up a generalist experience and set of transactions. Accordingly, the major areas that I worked on included corporate restructuring, PIPE transactions, private equity, banking finance and energy infrastructure. Overall, I got a good all-round experience at both firms following which I got the opportunity to work with SREI Infrastructure Finance Limited as the Sr. Vice President (Legal, Corporate Strategy and Planning).

    SREI Group is one of the largest infrastructure financing conglomerates in India, having assets worth USD3 billion approx under its management and with almost over hundred entities as sister concerns. It is a huge group which is being held and managed under the auspices of the Kanoria Foundation.

    Many young lawyers want to become in-house counsels and are opting to work as in-house counsels directly after law school. How do you see this as a career path?

    There are a few things which we have to bear in mind. There is some form of uniformity and inconsistency in terms of working in law firms. On the other hand, an in-house counsel has to be flexible according to the organization he/she wants to work with. In the M&A division or capital markets division of any other big firm, the type of work is somewhat on similar lines, depending on the transaction at hand. However, each company has a different structure. The philosophy of a company, organization, structural configuration and the hierarchy will be very different from that of a law firm. Before I shed some light on the content side or the method side, a word of advice for people who aspire to be an in-house counsel, they should do some background research on the type of company they want to work for. In the past, companies used to look for a person who had 15-25 years of experience in the same industry. However, that is changing. Young lawyers are being recruited by companies who are creating immense value and changing the traditional setup.

    It is important to note that, as an in-house counsel, you must know that your role will be more than just a legal adviser; you will be given a much-diversified responsibility which may not be strictly legal in nature. Here, the client is your financial team, commercial team and you are not catering to the entire world but ensuring that there is organic or inorganic growth within the organization, and you undertake the roles of a dispute preventor, cost controller and the right business partner in the literal sense. So, you should keep all the aforementioned points in mind before joining a company as an in-house counsel.

    If you want to generalize the structure of an in-house legal team in a  large company, how will you do that?

    With the caveat, that no two organisations have the same structure. I would like to give an example from the structure in the SREI Group. Under SREI Group, for every legal entity, there is a corporate legal and corporate compliance at each level because the regulator mandates these. A listed company needs to comply with several regulations by different regulators. There is constant interaction with Security Exchange Board of India (SEBI), which supervises all major activities of a company. If there is an acquisition or a potential change in the management of a listed company, everything has to be regularly and periodically intimated to SEBI and the stock exchange where the company is listed. Therefore, the compliance divisions ensure the conformity with the regulators and the RBI. The SREI Group is regulated by the RBI as an infrastructure finance company (IFC). So, we have a lot of interaction with the RBI on fairly regular basis. It is crucial to have a compliance division to ensure that we comply with the existing legal and regulatory framework.

    Almost all companies have a risk management team. The risk management team usually takes the form of an internal audit or a legal audit division. As a company with multiple associate/subsidiary entities, it has to ensure that the internal contractual arrangements and shareholding is managed properly, and there exists a system of checks and balances between the various entities at all levels to ensure that you are minimizing risks at every stage. So, the risk management division assumes a lot of importance.

    There is also a corporate legal at each entity level. On a daily basis, in an operative contract division, there are employment contracts, non-disclosure agreements, term sheets, securities documentation, memorandum of understanding and collaboration agreements which the corporate team needs to look at and thoroughly negotiate with the counterparties.

    A financial institution has many recovery matters, possession matters, civil matters, DRT matters, risk management, compliance, internal audit, etc, so it is important to have a robust litigation division.

    Moreover, at the group level, you have a strategy and planning team that drives and co-ordinates with all the aforementioned divisions.  It is the strategy team which drives the processes substantively across these 4-5 teams. The set up is mature in our organization but it varies with every organization, but this is typically what I have seen in Indian multinational corporations.

    What is the role of an in-house counsel in an organisation? How is it different from working in a law firm?

    The role of a general counsel is in the nature of a true business partner who works as a i) preemptive risk mitigator, ii) cost controller for legal expenses and iii) remedy agent in case there is a legal issue. A General Counsel has a role which is similar to a general physician, who would identify the issues in hand and should be able to guide the business functions in a right direction in case of any legal issues, rather than implementing every function himself/ herself.

    It is important to understand what the scope, ambit and role of an in-house counsel look like. There can be various divisions and verticals in the legal department. You have to involve yourself in the strategic decision-making process of the organization and for that, you need to know the legal risks and help streamline the processes within the organization to ensure that the key issues and the legal matters are being monitored and scrutinized. Then you have to take the strategic decisions keeping in mind the philosophy and the interests of the organization. So one of the key things is actual to be in coordination with the management of the company or the business heads of the company to ensure that all the decisions are taken by keeping in mind the legal risk that can potentially arise. You have to work on commercial transactions with external counsels and law firms to help us on an ad-hoc or retainer basis. If you have a defined skill set, you have to wear the business hat and think like a business head and try to create value at each step. It is important that as an in-house counsel, you should have the ability or skillsets required to set up the right structures to achieve a high level of operational efficiency and continuous improvement of organization and business, the methods ensuring incorporation of the best practices, creating awareness, development of functional centres of excellence and the ability to work under pressure. As an in-house counsel, you should be in a position to handle critical issues which are sensistive or confidential in nature. You have to be fully equipped, informed and in a position to handle that. So the idea is to integrate the legal advice with the business requirement and create value for the organisation. A person has to be a generalist, must have good grasping power, has to be flexible because litigation can change colors tomorrow. Working in an in-house role can be very different from working in a law firm. In a law firm, you might work on one area of law throughout your life, but the variety of work in an in-house function is extremely wide. You have to be very flexible and good to learn and grasp so that you can learn about the collaboration between the corporation office and various group companies optimizing the value of the corporate entity.

     

    What are the skills sets required to become an In-House Counsel?

    The skill sets have to be both technical and soft skills. You must have the judicious amalgam of the soft skills as well which is very much required because you will be dealing with very stringent timelines and some unexpected kind of pushbacks. When you are dealing with non-lawyers and people from other departments, you will have to be slightly more versatile and more efficiency oriented to ensure that they understand the tone of your language. It is important that you understand both their business requirement and you convey your legal provisions. This is one of the key skillsets that one must possess if they want to work in an in-house role.

    The organization will go on forever, and no person is indispensable in an organization. So it is important to standardize the procedure and processes in line with the business requirements to ensure efficiency and seamless delivery of advisory legal opinion. It is important to have standard points, or starting points or denominators or basis, wherein the position or philosophy of the company is clearly laid down. Those philosophies guide the operations and decision making over the years. So standardization and uniformization are very important.

    It is also crucial to have the ability to drive the processes, because deriving economic value and savings for the organization by bringing in the subject matter expertise and skill sets can only make meaning when you have a high level of operational efficiency.

    For example, if a company wants to embark on an M&A transaction, the law firms will be doing a set of documentation, the technical team and other teams will be doing their own due diligence and submit their report. Everybody has his or her compartmentalized job of work customized to the transaction. However, as a sole point of contact with all stakeholders, you as an in-house counsel should be able to soak all the information from everyone, give it the right shape and ensure that they mold and cast well in the framework that you want.

    You need to stay updated with the latest changes in the position of law so that you can give the best perspective advice from a commercial perspective to the top management.

    What should be the role of a legal head in case of a regulatory vacuum/ grey areas in law?

    While advising the business verticals to act on areas where there are regulatory vacuum or grey areas, a general counsel has the role to pre-empt the risk in a calculated manner and put the same before the business verticals. However, in cases where the existing legal framework is inadequate or fails to meet the current market scenario, it will be important to put forward the problem with the government agencies, either through industry bodies/ associations like ASSOCHAM or individually. Whenever a new law is proposed, generally the government provides a window period of 60-90 days during which the stakeholders can voice their concerns about the new law. It is important that the problem or concerns are clearly identified and proposed solutions are put forward in such cases. These solutions can be based on industry best practices around the world or based on ground realities or the market sentiments.

    Please give your views about the trend in the Indian companies on having a large in-house legal team.

    The trend is towards having a robust in-house function as well. The mantra of any firm is to increase their revenue and decrease the cost. I think having a robust in-house team works much better for me than hiring a law firm every now and then because that is an expensive affair. If you have a good in-house team, then the cost can be curtailed quickly and to a large extent. Because, when you talk about International Law firms, for a simple agreement they will charge you huge amounts. Now, if you have equipped lawyers who have global exposure and are good negotiators, I think they can play a role both in increasing revenue as well as cost preventers to a colossal extent. It is important to have in-house experts in finance, investment, taxation laws who can form the right opinion. One can take help of external consultants, when the volume is huge or when the work needs to be done at different locations, and it is not possible for the internal team to be present at different places. The idea should be to ensure that the person understands the business because that is where it adds value. Consultants will come as an outsider, but here you know the aspirations and expectations and can lead the best optimal advice. So I think the trend is very encouraging, fruitful and also sinks with the simple market logic. It aligns the incentives and disincentives of the promoters. So it is a market-driven kind of move.

    Is there any other aspect you would like to add on to the discussion?

    The role of a General Counsel or a Senior Corporate Counsel is also that of a behavior analyst of the corporate systems. Now there are so many rules to manage the entire litigation, rules to manage the complete compliance kind of platform, rules to administer the contracts. You have to make use of the technology, behavioral skills, core competencies, evolve right system of checks and balances within the organization, and I think that’s the requisite kind of skill sets. and I can probably end by saying that today’s evolving business scenario in the changing market, the role of a corporate counsel is very meaningful in the sense that they are becoming the true partners of the business unit and the company and, to drive the strategy towards higher growth, development, higher bottom lines and top lines. The role of a General Counsel is critical because he work at every stage with CFO, CIO, CMO, and CTO and acts as the point person for the top management. It is important that he gives the right advice to the top management which would drive the strategy for the company. In today’s scenario the role of a general counsel looks very promising.

     

  • Prem Rajani, Managing Partner, Rajani Associates, on building a firm practice and experience in corporate law

    Prem Rajani, Managing Partner, Rajani Associates, on building a firm practice and experience in corporate law

    Prem Rajani graduated from Government Law College in 1990 and is now the Managing Partner of Rajani Associates which was established in 1999. In this interview he talks to us about:

    • His time in law school and how facets of the profession have evolved with time.
    • The importance of moots, debating and internships.
    • Building a corporate law firm profile.
    • Working in Structuring and M&A deals.
    • Advice for young lawyers today.

     

    How would you like to introduce yourself to our readers, most of whom are university going law students in India?

    Currently I am the Managing Partner of Rajani Associates. Rajani Associates is a full-service law firm based in Mumbai and established in November 1999. The Firm has been involved in domestic and international practice in nearly all fields of corporate law as well as commercial litigation and property law. The Firm closely works alongside firms in the US, Europe, Middle East, South East Asia and Australia to meet the needs of our global clients. Our areas of practice are Corporate & Commercial, Mergers & Acquisitions and Competition Law, Banking and Finance, Domestic and International Capital Markets, Private Equity, Corporate Litigation and Arbitration, fund Formation, Real Estate & Trusts, Projects and Project Finance, Technology, Media & Telecom and Intellectual Property rights, Corporate Debt Restructuring, Structuring, Anti-Bribery and Corruption.

     

    Tell us about your life before you joined law school. What made you gravitate towards law?

    Immediately after finishing with school and college (commerce faculty from Jai Hind College) I joined Government Law College. The paramount factor that made me take up law was my father’s business that had a lot of dependency on solicitors for preparation of legal documents. Alongside my studies, very early on, I started assisting my father with his business and as a result often met many solicitors. The manner in which solicitors conducted themselves fascinated me. I started getting drawn to legalities and the documents that were being prepared. There came a point that I became so passionate about the profession that I had no doubt left in my mind that a solicitor is all I wanted to be.

     

     

    You graduated from GLC in 1990. How were the days? What would you advise our readers is the ideal things to look to get out of university, other than a degree?

    During my time law firms did not retain interns for summer/winter training and as such work training for most of us did not happen till we joined a law firm as an article for solicitor examination training. Most of us therefore very seriously attended college and read books from the library. Today the trend has changed. Young students are getting a chance to intern at a variety of established law firms giving them a chance to know and practice law outside of books and may be college attendance has taken a backseat. However I don’t necessarily mean that in a bad way. I only do wish to suggest to the younger generation that along with collecting work experience they must spend more time reading Bare Acts and established commentary books rather than simply relying on test papers to clear examinations, because after all knowledge of Law is paramount and irreplaceable. The opportunity to participate in moot courts as a student is also great and every student must to his or her best ability try and participate in them, whether as the research team or on the argument team. Lastly, irrespective of which branch of Law one wants to profess, it is my sincere belief and advice that every law student must spend the first two-three years of his or her career practicing hardcore litigation.

     

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

    During my college days my areas of interest were predominantly the Transfer of Property Act, Income Tax Act and a few other substantial laws (such as the Contract Act, Trust Act, Sales of Goods Act, and Negotiable Instrument Act). Somehow, I was not very inclined towards the constitution of criminal Laws. As mentioned above, in my opinion moot court competitions, mediation competitions and debates are extremely important both in terms of gaining knowledge and to get over stage phobia. I used to stand up and address the judge as well as counter the opponent quite comfortably, all of which assisted in my overall development.

     

    How must a law student decide on choosing his internships?  What criteria did you follow if any?

    As I stated earlier, during the initial days a student must try to do more of litigation and property Law and accordingly select law firms established in these practice areas. In my opinion, an understanding of these Laws builds a good foundation for the general practice of Law. However if a student is already decided and is highly focused on a specific branch of Law (such as IPR) then the student must select a law firm accordingly.

     

    Tell us about your internship experiences while at university. How did they aid your development?

    The concept of internship did not exist during my college / university days. What existed and what I did sign up for was articleship (a specialized training programme required to pursue the examination of solicitors). I for one had a wonderful experience during my articled days. I was fortunate to have not one but three brilliant seniors. The experience and exposure I received was unmatched and changed my entire perception towards how Law is understood, applied and practiced. During my articleship days there was no access to computers or search engines (life without which is unimaginable by many youngsters today). All research was based on the traditional style of referring to books and a physical library and most often but not self-interpretation. It helped us lawyers from those days to hone our research skills, develop our sense of interpretation and most of all gain an all-round knowledge on various topics of Law.

     

    What led you to gravitate towards Structuring and M&A practice? What opportunities may one find in this area?

    During 1990 private equities and IPOs did not exit much and as such the corporate world mostly comprised M&A activities. Structuring became a natural choice (and is now a hobby) considering the complex Laws, most of which keep changing from time to time and the fact that no single transaction can be considered  keeping in mind only one single statue. M&A transactions at all points require the analysation of various Laws. For instance issue of a convertible security must be analysed under the Companies Act, the FDI Policy, SEBI Regulations (for a listed company) and Income Tax Act and in certain cases special statutes such as the Banking Act, Insurance Act etc.

     

    Prem-Rajani-2

    You were well placed after graduation with the then new Foreign Exchange laws coming in post 1991, an area you focus on. Having seen the law evolve and various sectors open up, how did this first-hand experience prove valuable?

    I am perhaps one of the few fortunate lawyers who saw the evolution of FDI from 1991 till date. Not only was I amongst those lawyers practicing the Law in 1991 but was also amongst those few who were then working in a corporate law firm. There has been a material shift from what Laws were in 1991 and what the FDI Laws are in 2016. One good aspect has been that during the past 25 years despite several Governments coming up no Government has reversed the FDI Policy. If at all, each Government has systematically liberalised the policy. The current Government has also been quite active and liberalised the policy significantly within the last 2 years. However, liberalisation at each stage has been well guarded and though one may find that there are still some restrictions, under the given economic situation of the country and the globe at large, personally I feel some of the restrictions and regulations are necessary in the interest of the nation.

    As for my personal experience, I have first hand witnessed the initiation and then the journey of FDI in this country. It has given me the advantage of knowing and understanding each stage of liberalisation. I have had the chance to follow why a certain sector was so heavily guarded and why certain sectors have slowly and gradually been liberalised together with the thought process for each change. All of this has made my journey as a lawyer very exciting.

     

    You have been ranked by Chambers and Partners and IFLR1000 as a leading lawyer for M&A in India. Could you tell our readers more about what this practice entails, for anyone who may be interested in taking it up?

    As stated earlier M&A is an interesting field of Law and one needs to have an overall 360 degrees view and knowledge of the various direct and ancillary Laws involved. For instance, in case of acquisition of a listed company by another listed company one needs to analyse the applicable provisions of the Companies Act, SEBI Takeover Regulations, Insider Trading Regulations, Listing Regulations, FDI Policy (in case there is a significant foreign shareholder) Competition Act, Income Tax Act, Stamp Act and in the event the target company is engaged in any specific sector (viz Banking, Insurance) then those specific statutes also need to be studied. Along with all of this, there is also always a complex grid of transaction documents to be drafted or reviewed. All of this needs proper synchronization amongst various service providers to ensure that both parties to the deal eventually get what they have bargained for.

     

    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?

    The challenges faced by me when I started this law firm in November 1999 are different then what are faced by start-ups today. During 1990s, in a year only two or three new firms were registered or formed, while currently there are almost twelve to thirteen new law firms coming up each year. During 1990s, most founders /partners would usually have 10 to 15 years experience before starting their own firm; but of late I have seen that there are some of the law firm’s with partners having 5 to 7 years of experience. Some of the young law firms start out on the promise or assurance of a handful of clients and that is exactly where these law firms should be cautious, in as much as one cannot start the law firm on the strength of 4-5 clients promising some business. Also all clients at the end of the day expect quality work and at no cost should that be compromised on due to inexperience or the lack of a team.

     

    prem-rajani-1

    Rajani Associates has consistently been ranked at the top in dealing with Asia-Pacific M&A. Has there been a specific push towards this sector and how have you remained the best?

    We are thankful that we continue to be ranked in the top in dealing with Asia-Pacific M&A. There is no specific push towards this sector. It is just that our work speaks for itself backed by the good wishes and recommendations of our clients and occasionally the counter parties in a transaction.

     

    As Managing Partner of the firm, what is an average day at work like? We would love to hear about the day-to-day responsibilities that need to be handled by someone in your position.

    I am usually in the office by 9:30 -9:45 a.m. and leave around 10:00 p.m., which is nearly 12 hours in the office. Though the Managing Partner, I still enjoy hands on work in any transaction, more particularly transactions that involve conceptualisation and structuring (whether Corporate or Litigation) and at times negotiations. During the day, in addition to working on some transactions, I also need to devote time to meet clients as well as discuss office related issues with the partners and occasionally also spend time with some associates. All of this goes towards grooming budding lawyers that are the future. No doubt there is a support staff, but there are occasions when some decisions do need my intervention. In addition to all this I enjoy speaking at Seminars (which requires me to spend more time reading and updating). And above all is the updates in Law. I spend my weekends reading the latest in Law, be it judgements or reforms in statutes or policies.

     

    What advice do you have for fresh graduates who are entering law firms as an associate? What can they be expected to be judged on?

    As I stated earlier, my advice to the fresh graduates is that they must spend at least the first two – three years in pursuing a litigation practice and amongst other substantial statutes they must read and understand Transfer Property Act, Sale of Goods Act, Trust Act etc. These mother Acts form the basic foundation of knowledge which sadly most of the young generation of lawyers are choosing to skip in the lure of directly studying and practicing the specialised statutes. Specialised statutes are very important but without the basic knowledge of substantial statues, young lawyers will find interpretation and drafting a legally enforceable document a bit challenging.

     

    Finally, what is your parting message for our readers?

    Unlike some of the other professions (Medical, Engineering, MBA) that have a high entry barrier requiring extensive hard work even before graduation, the legal profession has fewer entry barriers. Challenges for lawyers begin after they pass Law. The statutes keep changing from time to time, new judgements keep updating interpretations from time to time and more importantly one’s own ability to interpret Law develops from time to time. A lawyer is required to read and update himself or herself on a daily basis and throughout his or her professional career. A lawyer must have the passion for reading and must be open for different views or interpretations.

  • Hormaz Daruwalla, Equity Partner, Khaitan and Co., on a career in taxation law

    Hormaz Daruwalla, Equity Partner, Khaitan and Co., on a career in taxation law

    Hormaz Daruwalla graduated from University of Bombay in 1987. He started his career as an Advocate with Crawford Bayley& Company, handling cases pertaining to indirect tax under Mr Dadi Engineer.

    In the year 1992, Hormaz started his practice as a Counsel at the Bombay High Court and joined the Chambers of Senior Advocate Mr Atul Setalvad.

    Hormaz is well respected and is a specialist in the fields of customs, central excise, service tax, foreign trade policy, special economic zones, anti-dumping, VAT and other local levies. He is particularly sought for his opinions generally on law and on the subjects he specialises in. His experience in advising clients on issues pertaining to indirect tax litigation, structuring, planning and other related issues makes him a popular lawyer among corporates. What makes him special is his ability in arguing cases before different fora including the High Courts and the Supreme Court of India.

    In this interview, he talks to us about:

    • Importance of Indirect taxation as a subject for law students.
    • Is specialisation a good thing in today’s professional world.
    • What does it take to be a good indirect tax lawyer.
    • Steps to prepare for a difficult case.

    Most of our readers are young lawyers and law students. How will you introduce yourself to them?

    I am just one of them but only have been around a bit longer. The challenges they face today, I face too. The excitement and energy they feel, I experience too. Over the years the choices I’ve made based on my thinking has determined who and where I am in my personal life as well as my professional career today. I don’t regret the choices I made but will always say I could’ve done better though.

    Were you always clear about your career plans considering you pursued commerce and went on to graduate in law from University of Bombay?

    I started with the LLB course at the Government Law College, Mumbai in 1984. At the same time, I also enrolled for the Company Secretaries course of the Institute of Company Secretaries of India. In 1987, I completed the LLB course, enrolled for the LLM course and was in my final group of the Company Secretaries course. During this period there was only one thing that I was certain about, which is that I wanted to become a Counsel. I had no clue of what subject of Law I would, if at all, specialise in. In those days we never had an opportunity to test, check, see and feel the subject you would make a career of. There were no internships as we have them today, but all I had was an open mind and the determination to work hard to become a Counsel. Those were the days when one had to appear in matters in Court and one needed a certain basic understanding of the working of the system. Working in a Law Firm would be the best training ground to get that basic understanding.  My batch mate and good friend Rohan Shah, now Senior Partner at Economic Law Practices, who had articled at Crawford Bayley & Company told me about a vacancy there. Their Senior Partner, Mr Dadi Engineer was a leading expert in Central Excise and Customs Law and needed the services of an Advocate Assistant. So I joined Crawford Bayley & Co and I remember the monthly remuneration used to be Rs 1,680/- (and this was before ‘tax deduction at source’ days).Indirect Tax was something new to me as the LLB course did not teach us even a word about it. I didn’t know if I’d like it or have the affinity for it or be able to cope with it or had the aptitude for it. But, as I said, nothing else mattered other than getting an opportunity to get on my race track to become a Counsel.

    What responsibilities you were entrusted with in Crawford Bayley & Company?

    My three years in that Crawford Bayley & Company was perhaps one of the most important periods in my professional career. It is here that I learnt a lot of what I know today. Those were the basics and the fundamentals. The systems, organisational skills, planning processes and most importantly my thinking process on issues of Law, were all formed at this stage. Under Mr Engineer I learnt to draft replies to notices and appeals. I soon started appearing before Departmental Officers and even the Customs, Excise and Gold (Control) Appellate Tribunal as it then was. Mr Engineer gave me a free hand at appearing and drafting. During this time I also got a great deal of experience in giving legal opinions on issues pertaining to Indirect Tax, as also structuring of businesses. But I must mention one thing that I practiced then which I am very glad I did and from which I have abundantly benefited, i.e. I have never said no to any kind of work given to me. This is something that I would always advise students and lawyers at least in the early years of their career.

    Please share your experience with Senior Advocate Mr Atul Setalvad.

    At the end of three years, I started as a Counsel in the Chamber of Senior Advocate Atul M Setalvad, as Junior to Senior Advocate Darius B Shroff. Atul Setalvad was a father figure to all of us. Atul (he insisted we all call him by his first name) was known for his crisp, concise, lucid and extremely effective drafting. He had the ability of breaking down extremely detailed and confusing issues into short, crisp and simple issues and he would get to the heart of the matter within no time.“Get your facts right first” he would say. Then study what the Law is, then apply the Law to the set of facts and only then look for authorities and precedents. He would be critical of people, who had such an obsession for precedents, that no sooner than you state a problem they rush off to look for a precedent. He also taught us never to argue the unarguable. This and much more is what I learnt in that Chamber. More importantly, it was a great place to learn lessons in honesty, integrity and humility. The skills and abilities that I acquired at Crawford Bayley & Company got honed, polished and further refined in this Chamber. I continued as a Counsel until October 2014 and during this period I appeared with the same enthusiasm and preparation before the junior most officer of the Excise and Customs Department as I would when I appeared before the Hon’ble Supreme Court of India.

    What was it that moved you to join Khaitan & Co after many years of being a Counsel?

    Khaitan & Co has an Indirect Tax Team of over 15 people spread over Mumbai, Delhi, Kolkata and Bengaluru.  The Firm wanted the benefit of my experience of appearing before the Supreme Court and the High Courts in high-value matters.  As I had this expertise, it was a good choice for me. Over the last one and a half years I have enjoyed working with the team and appeared in matters before the Supreme Court, various High Courts and the Customs, Excise and Service Tax Appellate Tribunal.  I am thoroughly enjoying every moment with people more wonderful than I can imagine and having the best of both, Court work as well as Chamber practice.

    At Khaitan & Co we have the best of cultures and I needn’t stress more but only say that it’s a respectable law firm based on values of fairness, integrity, diligence and responsibility and part of its ambition statement is “Earn we should but with dignity and pleasure.” Wow!

    How important is Indirect Taxation as a subject for law students?

    Sixty percent of all Government revenues at the Centre are from Indirect Taxation. That will give you an indication of how important the subject of Indirect Tax is in today’s environment. Every business, profession or calling today experience challenges and problems with taxation and in particular Indirect Taxation. Indirect Tax is becoming the biggest single cost for most businesses and if they can save a couple of percentages on that, that’ll mean a lot of money to add to their profits.  With the negative list regime under Service Tax, there is hardly any activity that does not involve taxation. Corporates are constantly seeking advice and assistance on issues of taxation, which issues are getting more complicated by the day. Every amendment, even if for the purpose of simplification, poses further issues. As I see it, whichever subject of law that a young lawyer may pursue as a career, a basic understanding of Indirect Taxation is an absolute must.

    Which field of law will you advise law students to pursue?

    Over the years I have met many law students and young lawyers who find the subject of taxation per se boring. To them I say, “It’s all in your head”, which is a fact. Students today have such good opportunities to test what they would be best at and internships are fantastic opportunities to get over these mental blocks. Very often a student may have a special liking towards a certain subject and may have the aptitude and affinity for that subject. The student may also be indifferent or have a dislike towards another subject. This indifference or dislike is mostly due to ignorance and lack of exposure in the right manner to that subject of law. I would say to such a student to not waste his internship opportunity on the subject he knows, he has a liking, aptitude and / or affinity for, but instead use the opportunity to actually intern in a subject that he is wary about. This way he can get a more accurate and correct picture of the subject and can then make a learned decision about his career choice. The different subjects in this field of law are vast and varied. It is only the person himself who needs to decide his choice of subject. It would be rather foolish for anyone else to make this choice for him. I would advise the student, in making this choice, to necessarily have an open mind free from blocks and prejudices caused mainly by lack of knowledge about a subject. His decision will ofcourse be guided by his own likes, dislikes and which will be in line with his character and attitude. And I say that he will be successful in anything he does so long as he has the right mental attitude and is prepared to work diligently an thirdly of course he must enjoy what he does.

    Do you think specialisation is a good thing in today’s professional world?

    It does not matter really whether one specialises or has a general all round practice. What is important though is that you can equally excel in any subject of law that you may choose. I would say that ofcourse today is the age of specialisation whether it is in the medical profession or in our legal profession.  At Khaitan & Co too, which is the best full-service law firm, each area of practice is handled and headed by specialists in that particular area of law.

    I feel that very often, like it happened to me, a young lawyer may not specialise out of choice but may find himself guided into a particular subject and before he knows it, he is branded as  a specialist in that subject. It is that branding that ensures that he gets work only relating to that particular subject of law which further confirms his specialisation.

    How can one gain expertise in Indirect Tax? What does it take to be a good Indirect Tax lawyer?

    Indirect Tax is a subject that is very volatile as well as dynamic. This requires the practitioner to constantly be appraised of the changes happening almost every day. A lazy attitude in this regard will only mean instant death, so to speak. Only his constant updating of knowledge and information and ofcourse repetition can ensure expertise in this field. This I would say will also be true for any other practice area, but it’s more so true for Indirect Tax. The student or young lawyer desiring to take up Indirect Tax as his area of practice must necessarily be prepared to read a lot of material whether it is the constant changes or Government policies or Court decisions.  And remember, there are no free lunches!

    What has been your strategy to deal with errors and mistakes?

    The first step I believe one needs to take to deal with errors and mistakes is to admit and acknowledge them. Unless this happens, one can never go any further.  Once acknowledged, the next step is to understand how and why the mistake happened. This will enable the person to eliminate the cause and consequently future mistakes. Mistakes are a very vital part of the learning process, one must understand that the day you stop making mistakes you stop learning and you stagnate.

    What steps do you take to prepare for a difficult case?

    Preparing for a difficult case is something that I have learnt to enjoy and believe me in this profession and in the subject of Indirect Tax one can get ample opportunities for such enjoyment. To start with one needs to meet the client and listen to him carefully and attentively while he tells you all about his case. This is something where many people lack. Make copious notes and perfectly understand the facts. The next stage would be to study the various provisions of law that are applicable to the facts and then understand and set out precisely what issues arise in the matter. The wheat needs to be separated from the chaff, so to speak. It is only then, after breaking up the entire case into bits and getting to the heart of the issue, that one can start figuring out a solution or answer to the issue. The answer could be either a practical one or found in interpreting the law in a particular manner by application of well-founded principles or a mix of both. The last stage would be to support the submissions by authoritative references or Case Law as applicable.

    What are the preferred legal issues you like to work on? Do you have any hobbies that help you unwind after a long day at work?

    As I said I stopped having any preference for any particular kind of legal issues. What interests me though are issues that have an impact on public at large. I have always said to the tax collector “Tax if you must, but only with the authority that you may have and with the dignity that is expected of you”. In the same breath, I also say to the tax payer “Pay your taxes honestly and avoid if you pay your taxes only within limits a decent citizen would”. There is a fine line between tax avoidance and tax evasion and many a tax avoidance schemes can very well fall within the category of tax evasion. My advice to clients has always been to keep litigation to the minimum.

    All said and done, I thoroughly enjoy what I am doing now at Khaitan & Co, but do really miss what I used to do many years ago in often appearing for NGOs in environmental matters. I do try to pursue my passion for the outdoors with an occasional trek or hike and I always look forward to a long walk in the evenings to help me unwind.

    What are your views about the upcoming GST regime?

    The GST regime is something that has attracted a lot of speculation. I wouldn’t want to add to this. Though I will say that it is a brilliant move in the right direction made by the previous Government and we all eagerly await it’s coming into effect, I don’t see it happen in the near future.  When it does come into effect, it will have many advantages to businesses. However, in the initial years all prices will shoot up considerably and will take considerable time to stabilise. Although there might be provisions for rationalisation of the tax, as I said earlier any change in the law substantive or procedural will bring up a new series of litigation which will continue for several years until settled finally. This may be good news for young lawyers.

    What would be your parting message for your readers?

    Start getting lucky and courageous in your career.

    You might wonder what I am talking about but I do not subscribe to the conventional dictionary meaning of “luck” which is “Success or failure apparently brought by chance rather than through one’s own actions.”  I would think this is an apt definition of “gambling” but not of “luck”.  But I do subscribe to what the great Roman Philosopher Seneca had to say.  He said, “Luck is what happens when preparation meets opportunity.” Opportunities come by every person in equal amounts but it’s only the one who is prepared and ready for it, who can actually see them and make good use of them. It is he who is “lucky”.  The truth is, we make our own luck and the difference between lucky and unlucky people is their level of preparedness; not only of everything else but most importantly prepared with the right mental attitude.

    Everything is constantly changing; that’s inevitable.  Change will happen whether you like it or not.  Don’t be afraid to make choices.  The wiser thing to do is to model your choices around the change to your advantage or else the change may not be to your liking.

    As far as getting lucky is concerned, start preparing for it by developing the right mental attitude.

    Get up, Get going and Good luck!

     

  • Avaantika Kakkar, Partner, Competition Law, Khaitan & Co., on challenges and landmarks of a career in corporate law

    Avaantika Kakkar, Partner, Competition Law, Khaitan & Co., on challenges and landmarks of a career in corporate law

    Avaantika Kakkar, a 2003 graduate of Indian Law Society’s Law College, Pune, is currently a Partner at Khaitan and CO., heading its Competition and Antitrust Law practice. Soon after graduating, she published her book, “A Perspective on Product Liability Law and Consumer Safety”, and she continues to take active interest in academia, especially if it is linked to Competition Law. In this interview, she tells us about:

    • The passion for indulging in research and how it helps build character;
    • Getting one’s work published;
    • The challenging path to success in a niche area like Competition law;
    • The nature of a corporate job; and
    • The importance of balancing personal and private life (with some great musical recommendations to help students find the crucial balance).

     

    How would you like to introduce yourself to our readers?

    Simply, I am Avaantika.

     

    What would you like to share with our readers about your time spent at ILS Pune, both within and beyond the classroom? How did the city itself play a part in your legal education?

    ILS Pune has a fantastic library – that was my favourite hang-out. It’s a college that allows you to be what you want to be and in my time, at least, we had a very supportive and encouraging faculty. We had visiting professors who were practicing lawyers with superb independent reputations, and they allowed us glimpses into what it would be like to practice law.

    One may miss the perpetual ‘internships’  that colleges in other cities offer, but at ILS, the good part is that you have all that time for a real, college life, and you use your vacations for internships and practical exposure.

    About Pune – what can I say? I love the city and keep going back! It accommodates my beautiful Alma Mater, in the heart of the city, with its own scenic hill-side (which students and teachers of the college along with the residents of Pune have to defend against the occasional threats of flyovers and by-pass roads!).

    I lived on what constituted both sides of the city back then – ILS and CAMP area (the cantonment). The city has expanded, and too much has changed, however there is always FTII, MG Road, East Street, Marz-O-Rin and THoaks (Thousand Oaks, for the uninitiated)!

     

    During your time spent there, what, if any, extra-curricular or co-curricular activities did you take up? How did the same affect your learning experience and prepare you for the legal sector?

    Moot courts and debates, of course. But what I enjoyed most was writing – I finished my book on product liability in India while I was in college. Of course, I felt it was ahead of its time and was never the bestseller that I had intended it to be but, yes – writing it, editing it, and finally, getting it published was a great learning curve. This has helped in moulding the writer in me, and I remain deeply involved with the publication initiatives at Khaitan & Co, and I type really fast!

     

    Did you always have a passion for research or was it an acquired taste? What specific experiences or circumstances lead you to write your book on product liability and consumer safety?

    I always had a passion for research – still do.

    I guess I wrote on the subject because, in my naïve-student-mind, I felt that this was a subject on which very little had been written, and I was inspired with all that sparkle in the law of torts.

     

    What advice would you give our readers looking to enter academia and publish their own work?

    It really depends on what you are looking to publish. There are many opportunities now, with online publications for short essays and articles that make it easier than it was. I had managed some publications in international law journals that solicited legal writing by students. There is also self-publishing, whether through e-books or traditional methods (but I would use that after exhausting all other options). Law book publishers are always on the look-out for more subjects and good writing. In fact, they still receive, read and respond to unsolicited manuscripts. Then, there is the Big 6 (or whatever the number is now) and the option of publishing great reference texts or non-fiction through them, but these would have to be extremely meaningful and insightful works that interest the publisher commercially.

     

    How would you say research publications impact one’s understanding of the law and the legal system? Further, how does the same impact one’s employability or desirability to prospective employers?

    Research publications help one dive deep into the subject – you become alert to nuances and learn to articulate your thoughts. I think that ours is a field that will always value clear-thinking individuals who are able to get to the depth of a problem (and also out of it!). Quality publications (or writing) are often an ask of almost every practice, including Khaitan & Co. and Nishith Desai Associates (where I worked for a brief period).

     

    avaantika-kakkar-2

    Given your extensive work with Competition Law in India, what would you like to share with our readers about the same as a relatively newer area of law in India?

    Competition Law is exciting because it’s a developing law in India. We are a nascent jurisdiction and it is great to be so deeply involved in the creation of precedent. The really challenging (and thrilling) aspect of competition law is that it puts you in direct touch with the conduct of, and incentive for, businesses across sectors. It’s a great practice area for lawyers who like research – one aspect of this law is that both the regulator and the practitioners look for precedent from jurisdictions that have been around much longer.

     

    About antitrust and competition law in general, what experiences, internships, or other activates would you say are essential to anyone looking to specialise in this field, during or after law school?

    It helps to have studied the subject extensively (this is true for most practice areas, actually). The challenge is that the subject is not always formally taught in Law Schools so one has to look for online courses or specialised short courses, which are a good start.

    I also think that a background in M&A, general corporate and commercial laws, or litigation experience, goes a long way in making a comfortable transition into this super-specialised field.

     

    How do you see the future of competition law in India as, and what would you advise those looking to enter the same field? To what extent do you see it as a niche area within the general sphere of corporate practise?

    Yes, competition law could be a niche practice, but I think that the general sphere constitutes an overlap of corporate practice (of course) as well as litigation, commercial laws, data protection, and intellectual property laws, at the very least. I actually see the practice of competition law as rather a melting pot of all of these practice areas. Also, it is already becoming a standalone practice across the firms that were first movers in this area and in the future, I see it as a very important constituent of full service law firms. I also see a future for boutique competition law firms – in the more distant future.

     

    When and how did you identify competition and antitrust law as your specialization? How did your career path or trajectory change after that?

    (Avaantika worked earlier at Udwadia & Udeshi in their general corporate advisory, and later moved on to broader corporate and commercial matters at Nishith Desai Associates)

    My varied background and diverse experience with complex corporate structuring, advisory work on the commercial side, transactions on the secondary market, my exposure to listing work as well as going private (delisting transactions) and the time that I spent on structured finance and the contentious matters that I was involved with, have all helped me work as a competition lawyer who has some value add.

    I know that today, there is a strong emphasis on specialisation from the day that students graduate – I think this is an unfortunate development of our times, and I was lucky that I had mentors, great guidance and the opportunity to choose specialisation when I had had at least 6 years of varied experience across practices.

    My career path is largely in line with what one may expect. Competition law allows for intellectual satisfaction and deep academic fulfilment.

     

    What would you like to share with our readers about the general work environment and the demanding nature of a corporate sector job?

    (As a partner at Khaitan & Co Avaantika has led multiple mergers and acquisitions, and acted as an advisor on many transactions and joint ventures, etc.)

    It’s the same everywhere, really. I don’t know of any job that does not demand a deep mental and physical commitment from you. It helps if you let this great profession define who you are. At some level, it impacts who you are as a person, which is not always a bad thing.

    Take some time off, read, get some exercise (or, watch a movie!), spend time with your family, but be equally focussed and committed to your profession.

    I haven’t really found the answer to how one copes with the demanding nature of a job – the truth is, you just have to find balance whenever you can, and it isn’t a very precise scale that you weigh your experiences on!

    It is obviously great to cultivate hobbies and have interests outside of work but there will be days, in fact, weeks and sometimes a few months, when it will be maddening! This is also where the organisation that you work with comes into play – do they care?

     

    What would you like to say about the trade off, if any, between a personal life outside the office and effort required to make it as an advocate?

    Law is a bad wife. But, she makes a good mistress, right? You have to be there for her!

    The law, the practice of medicine and at least a few other jobs (rather professions), do require us to be on our toes, work hard, work smart and do what it takes to stay relevant. This is a constant, unending process (I am sure most senior, successful doctors and lawyers would vouch for this).

    It helps to surround yourself with family (and friends) that support your passion and your ambition – this is often tougher than finding balance at work (because we don’t always get to choose our families!).

    Having said this – prioritise your work. Prioritise your life. I don’t think that we can lead a life without regrets, but regret is an avoidable circumstance! Some things are pretty obvious – I, for instance, would take no pride in describing how I missed out on important moments in my life or with my family. But, at the same time I take great pride in my work and am unapologetic about its excruciating demands – my work defines who I am – this is who I hold myself out to be – there is therefore, no scope for any misrepresentations!

     

    Finally, what would be your parting message for our readers, most of whom are law students and young lawyers?

    Work hard, work smart – most of all, enjoy what you do. Give in to the effort that it requires, don’t feel sorry for yourself and try not to take yourself too seriously.

    I love advising students to read (possibly listen to) Baz Lurhmann’s words. Also, listen to The Gambler by Kenny Rogers – let it play in your head and guide you as you make the choices that will come to define you, as an individual and as a professional.

  • Aditya Shamlal, Partner, GameChanger Law Advisors, on career experience in Sports Law

    Aditya Shamlal, Partner, GameChanger Law Advisors, on career experience in Sports Law

    Aditya Shamlal graduated from the National Law School India University in 2008. He has worked as an Associate at Amarchand Mangaldas and thereafter at the Chambers of Raj Panwani. He is at present a Senior Consultant at GameChanger Sports Ventures, a Partner at GameChanger Law Advisors and Managing Editor at gamechangerindia.com. In this interview he shares his insights on:

    • Choosing law as a profession
    • His time at NLSIU
    • Working at GameChanger, India
    • Experience in Sports Law

     

    How would you like introduce yourself to our readers who are mostly law aspirants, law students and young lawyers?

    I am a graduate of NLSIU, Bangalore, Batch of 2008. I have, during my 7 plus years since graduation, gained experience and worked in various practice areas within the legal industry, such as corporate and commercial law, environmental law, technology law, sports law and dispute resolution. I am an avid sports enthusiast and do regular research and writing within the sports law domain.

     

    Did you always want to be a lawyer? Did you have lawyers in your family or among relatives who motivated you to pursue law?

    As a child or even till I was 14-15 I never really thought much about a career and I don’t think I was particularly ambitious either. I was quite content with playing sports with my friends, playing video games and studying when required to. The first profession I seriously thought of was law.

    However, I did not have any lawyers in my family or even among distant relatives. No one in my family really knew what being a lawyer meant. I first discussed this with my family in 2001-2002 and their only idea of a lawyer (and consequently mine) was an advocate who practiced in the courts.

     

    What inclined you towards the field of legal education? Can you recall any specific incident that made you choose law as a career?

    My favourite subjects in school were English and Social Studies. Our civics course had chapters on the Constitution of India and that first got me interested in the ‘law’. By the time I was 14-15 years old, I had displayed a higher aptitude for English, History, Political Science and Economics over Math and Science. My school at that point of time did not offer arts courses as an option for the 12th Board examination. I was left only with the options of commerce or science and chose science to ‘keep my options open’.

    Sometime in 2002, my English teacher, who herself was an LLB graduate from Delhi University, suggested I consider law as a possible career option, as she felt I had an aptitude for it. This got me thinking about law seriously, and after doing a bit of research on the options available and the exams to be written, I decided to go ahead and write the legal entrance exams.

     

    How would you describe your experience as a student at NLSIU? How instrumental was NLSIU in shaping up your legal career?

    NLSIU was a great place to study law. While NLSIU, like every other institution in India, has its own problems and issues, those 5 years completely changed the direction of my life.

    I believe NLSIU has been extremely instrumental in shaping the legal career of almost all its graduates and the NLSIU alumni community is now understanding that, and consequently are more invested in the institution than before. NLSIU has churned out leaders in advocacy, law firms, companies, public policy institutions, academia, social work and quite recently in entrepreneurship as well. This would not have been possible without the institution providing a conducive atmosphere for learning. In addition, the institution has also provided us with other building blocks (such as exposure to so many different situations, the ability to build powerful networks, development of communication skills etc.) that have stood us in good stead way after our graduation. Therefore, there is much reason to be grateful to NLSIU!

     

    What were your areas of interest during your graduation? How did you go about developing expertise and knowledge in these areas?

    Economics, Company Law, Intellectual Property Law, International Law were the courses I enjoyed the most during college, I would be lying if I said I went around developing any sort of expertise in these areas during my college days, apart from during internships, which necessitated doing reasonably in-depth research with respect to real world circumstances and scenarios.

    Most of my extra-curricular activities were centred around sports whether it organisationally or in the form of participation. I played basketball briefly for the university team, and otherwise participated yearly in inter-batch sports activities like basketball, football, tennis and table tennis. I was also on the sports committee for a year.

     

    Tell us about the internships you pursued when at law school. What kind of work did you get to do during internships? Did law school equip you enough for internships?

    I did mostly litigation internships with NLSIU Alums in the Supreme Court and Delhi High Court for my first 3 years in law school. In my 4th and 5th years I did more corporate internships by interning at law firms and at banks. The education at law school, whether relevant or not specifically with respect to subject matter, in general armed me with the tools I needed to tackle any legal problem thrown at me during my internships.

     

    Right after graduation you joined as an Associate in the New Delhi offices of Amarchand Mangaldas. Tell our readers what was your work profile at this Law firm? What did an average day of work look like?

    I joined the erstwhile AMSS, Delhi in 2008 and worked there for a period of 2 years. As a fresh graduate in a large law firm it is sometimes tough to hit the ground running. Often you were put in a practice area you did not understand and it can be quite a challenge coming to grips with the major legal issues and nuances of a particular practice area.

    As a junior resource you work profile includes doing all of the ground work in the form of research; preparing first drafts of opinions, legal memos and agreements; conducting due diligence exercises; maintaining files, taking minutes at meetings, assisting your immediate reporting senior associate or your partner in whatever way possible. An average day in Amarchand is quite hectic, you are almost always occupied with most of the tasks I have already mentioned.

     

    Please tell our readers what was the procedure you followed for your applications to the big law firms?

    We had a robust recruitment committee during my years in law school, and the big law firms, both Indian and from the UK, were recruiting actively from NLSIU. We routed our job applications through our recruitment committee and some students had already landed jobs through pre-placement offers on the basis of internships.

     

    aditya-shamlal-2

    You have further worked in litigation for about 2 years. Kindly in brief share these experiences with our readers.

    After walking into NLSIU in 2003, joining a litigation practice in 2010, was my biggest eye opener. During my time at AMSS, I had the opportunity to work on all kinds of projects, but due to the way large corporate firms are structured, my client or ‘real world’ exposure was fairly limited and junior resources in large firms are generally sheltered and insulated from the big bad world.

    Juniors in Litigation, especially outside of the larger firms, have no such protection afforded to them. You are quite literally thrown into the deep end, whether it is drafting, or filing a suit or petition, sitting in client meetings and gleaning facts from your clients, sitting with senior lawyers and briefing them. In litigation, every one of your skills is tested thoroughly. Whether it is the hard legal skills of drafting or research or soft skills in managing client expectations and dealing with the registry, all your work and life experience will come into play when working in litigation and therefore, to me at least, it was one of the more challenging experiences of my life.

     

    Take our readers through this wonderful transition and journey you have experienced and kindly share your legal insights in sports issues.

    (Thereafter Aditya joined GameChanger Law Advisors as a Senior Consultant and as the Managing Editor of gamechangerindia.com and finally became Partner of GameChanger Law Advisors.)

    GameChanger Law Advisors (a legal advisory practice) and GameChanger Sports Ventures (a consultancy and online web magazine on the business of sport) was founded by Amrut Joshi (NLSIU, Batch of 2003) in the year 2011. I was always interested in sports law and sports businesses and most of my friends knew of that interest. I was put in touch with Amrut through a common friend and I wound up joining both the law firm and the consultancy in 2012. Initially, it was just the two of us in the law practice.

    GameChanger Sports Ventures was conceptualized as a sports business consulting firm to provide niche consulting services to the sports industry (such as sponsorship consulting, social media marketing, and other advisory services). While Amrut and I were responsible for shaping the content platform i.e. gamechangerindia.com, Prantik Mazumdar (who is a reputed digital marketing consultant in Singapore) was leading the execution of all consulting assignments.

    The idea was to bootstrap the sports consulting venture with revenues earned from a pure play law practice (i.e. from GameChanger Law Advisors) and from a social media consulting practice (in Prantik’s case). We straddled our corporate and commercial law practice with GameChanger Sports Ventures’ work for the first few years. However, due to Amrut’s and my legal experience, the law practice continued to get stronger (as a result of a strong startup ecosystem in both Bangalore and New Delhi), and we eventually pivoted to a model where we were exclusively focusing on pure-play legal services, which included assisting clients on Angel/VC investment transactions, technology licensing transactions, commercial contracting, sports law and employment law advisory All the while, we have continued to retain our focus on servicing clients in the startup and sports industries.

     

    Please tell our readers about GameChanger Law Advisors, its area of operations, services offered. What was the thought process behind joining GameChanger Law Advisors?

    GameChanger Law Advisors, is a boutique commercial law practice that is focused on servicing clients in the Startup, Sports and SME ecosystem. We currently have full-fledged offices in Bangalore and New Delhi. Our core areas of practice are:

    • Corporate and Commercial Law Advisory;
    • Employment Law Advisory;
    • Angel and Venture Capital Investments;
    • Mergers and Acquisitions;
    • A specialised practice supporting the Technology and Media industries; and
    • A specialised practice supporting the Sports Industry.

    The thought process behind joining GameChanger Law Advisors was that I wanted to work in industry areas in which I am interested. In addition, I had a unique opportunity to build a law practice that is modern, contextual and meritocratic in its outlook. The decision was borne out of that interest, it was an instinctive decision taken after weighing all the pros and cons of leaving an established practice area and attempting to develop and carve out a niche for ourselves.

    Company Law applies equally to any company irrespective of the industry it does business in. Our value addition as corporate and commercial legal counsel stems from the fact that we strive to obtain a deep understanding of our clients’ businesses and their commercial considerations and pinpoints, while rendering our services. The fact that Amrut and I were able to obtain a substantial amount of first-hand non-legal business experience also helps us when we share our experiences with Founders of startups now. As much as it is a cliché, we believe that we will only be successful and relevant to our clients if we provide advice that is practical and not merely by reading to them the plain letter of the law. .

     

    How did your interest grow towards sports law as this an area less travelled by corporate lawyers?

    I used to watch and play quite a few sports growing up. Watching and reading about sports like Football and Basketball got me thinking about how sports are a reasonably structured business in the West. Sports as a business in India was only unlocked in the early 90’s with lucrative TV deals for cricket broadcast and sky high endorsements for Sachin Tendulkar. Even as recently as the early part of the last decade, sports business in India was equated with just cricket. Since then however, the business of sport in India has evolved gradually. The last few years has seen the advent of leagues in sports such as Football, Kabaddi, Hockey, Badminton and Tennis. These leagues are now spawning a professional ecosystem, which comprises not just the players but also other stakeholders such as sponsors, franchise owners, broadcasters, infrastructure providers, coaches, medical staff, player agents etc.

    The growth of this ecosystem has also gradually increased the demand for specialised legal services to support different stakeholders in the sports industry. Sports Law, in our view, is “applied law”, and is a discipline that requires a good working knowledge of several other bodies of law such as contract law, constitutional law, administrative law, intellectual property law and company law. You cannot be a good sports lawyer unless you are a good lawyer!

     

    How is the work life at GameChanger Law Advisors and how do you maintain the work and family life balance?

    We strive hard to maintain a work-life balance at GameChanger. However being a young firm, with a growing client base, work-life balance is sometimes a luxury that we cannot afford. Those situations notwithstanding, we try to make sure that we don’t unnecessarily keep long hours. We try and make sure that the entire team gets a complete break on Saturdays and Sundays so that we are fresh and ready to deal with new challenges at the beginning of every week! Being a small team, we are also flexible with leave and holiday requests- the team tries its best to cover up for any person who is on leave/vacation, so that the vacation/leave can be used for its actually intended purpose! Having said that, if there are unavoidable situations at work, which require us to be available for clients at late hours or on weekends, our team members are game to accept such challenges too!

     

    You have various publications on sports law to your credit. Kindly share your experience with young readers and how your interest was drawn to this field.

    Publications are something which I didn’t really take to seriously in Law School. I didn’t attach to much importance to it at that point of time as I viewed it as an exercise which requires too much effort for no tangible result. Only once I started working did I realise the value in writing. Legal writing truly hones your theoretical skill and grasp over the subject at hand. In addition, it helps you to express your views, strive towards paying attention to detail and reach a target audience that is relevant to your practice. As a firm, GameChanger Law Advisors puts a lot of emphasis on legal writing, not just in the field of sports law, but also other areas of law such as corporate law, administrative law, employment law and contract law.

    If I have any advice for a young law student, it would be to use the opportunities during college life to get published as much as possible. If a subject interests you, write about various topics that are current and relevant to the legal debates of the day. It is an extremely handy skill-set to have and something which in my view will never go to waste.

     

    Do you have any plans to pursue higher education in the future specially in sports laws?

    No current plans to pursue higher education, in sports law or otherwise, though I would love to do a sports law related LL.M so I would not rule that out for the future if the opportunity ever presents itself.

     

  • Abhijit Joshi, Founding Partner, Veritas Legal, Ex-AZB Senior Partner on starting up with Veritas

    Abhijit Joshi, Founding Partner, Veritas Legal, Ex-AZB Senior Partner on starting up with Veritas

    Abhijit Joshi is a founding partner of Veritas Legal, Advocates and Solicitors, and is also a qualified member of the Law Society of England and Wales. Abhijit graduated in Commerce and qualified in law from Mumbai University. Over the course of his career he has worked at Amarchand Mangaldas, Dua Associates and AZB Partners. In this interview he talks to us about:

    • How he selected law and his early career.
    • Criteria for selection of associates while recruiting.
    • His formative years as a lawyer and his time at Amarchand and AZB.
    • Veritas Legal and its rapid expansion as well as advice for our readers.

     

    How did you decide to pursue law as a career option? Were there other lawyers in your family?

    My father passed away very young and what is not untypical of Indian families all our properties went into disputes. As a result at a very young age (school days) unfortunately I had to interact with lawyers along with my mother. It probably had a counter effect, i.e. me not wanting to take up law! So while I studied law, I never intended to become a lawyer. After trying my hand at a few things, I realized that the unplanned training I got during my childhood, had probably made me more attuned towards the profession and ultimately I decided to pursue it as a career. There is no one in my family who was ever a lawyer and I was told that this might be a serious impediment. Needless to say, I realized that if you have merit and are willing to work hard, there are no real impediments.

     

    abhijit-joshi-2

    Tell us about your schooling and college life before you graduated. Any fond memories or anecdotes that spring to mind that you would like to share with us?

    School days were great, but at the age of nine I lost one of my parents. It had an effect, but I coped well. I then went to Sydenham College for Commerce which was then a premier institution. There are lots of fond memories. I excelled at academics, I excelled at extra-curricular activities, I became the youngest chairperson of the Students Union. I found the love of my life, my wife. I probably learnt my early lessons on the importance of networking at the college.

     

    Were you always interested in corporate work? Did you have other areas of law that interested you? How did you ultimately choose your field of work?

    Corporate work has a buzz and I guess a lot of young minds would like to be associated with it. Even today, I see the same trend. I had planned nothing. I had applied to Mr. R. A. Shah at Crawford Bayley as he was the pioneer of international corporate work in those days. I was not accepted. I applied at AmarchandMangaldas and they were kind enough to take a risk on me. There were 5 to 6 lawyers in their Mumbai office in those days other than the family. I quickly realized that destiny had made the right choice for me.Amarchand was at the cutting edge of India’s economic evolution and I got to work on many of the firsts. For example, the first Euro issue, the first Cola war , etc. The firm’s orientation was towards corporate law and I eventually got interested in it and continue even today.

     

    How important is CGPA for a law student? While hiring, are you primarily looking at the academic record of the candidate or other areas like extra-curricular activities too?

    This is a good question. When you are judging a candidate by her resume, academics is going to form a lopsided part of consideration. However, I believe that in addition to academics other aspects of the personality of the candidate is what will give him/her the winning edge. I would assume that everyone is going to be hardworking, but it is important to know who has the “spark”. Personal interviews go a long way in getting a “gut” on the candidate. After having recruited for many, many years, it somehow comes to you within the first 5 minutes of the interview whether there is potential or not. But often this has not been fair to the candidate and this has to be validated by more scrutiny. For example, when you see extra-curricular activities, you see whether the candidate has all-round development. I would typically see what games the candidate has played. Is he a cricketer or is he a tennis player? In other words has he/she excelled at team games or individual games, is he/she a team player or a solo player.These are only aides, but I would admit that in a situation where there is not much to judge from, academics will have a very heavy weightage.

     

    abhijit-joshi-3

    You started your career at Amarchand Mangaldas and moved on to Dua before joining AZB. How did your initial years in practice shape your outlook?

    My initial years shaped me. My senior Mr. Cyril Shroff has left a deep impression on my work and my style of work as that is what I observed very keenly and closely during my formative years.I remember he once told me to never close the right side of a chart when you are developing options because mentally when you close it, you will feel there are no other options and you will start thinking within the box. He taught me how sound knowledge of law needs to be applied with innovation in thinking. The initial years have left an imprint on me.

     

    You have been associated with AZB for a number of years – you started as one of their first partners before being made CEO of AZB. How do you look back on your time at AZB?

    AZB holds a special place in my life and career. I got to observe another giant, Zia Mody. Both at Amarchand and AZB , I was around in their initial days of evolution and therefore I had the privilege of working very closely with both Mr. Cyril Shroff and Ms. Zia Mody. We were around 11 to 15 people when I joined AZB (then known as CZM) and the sheer joy of growth and the adrenaline was unparalleled. Working with Zia and Bahram was delightful as not onlywere they good lawyers, but also great human beings. I look at AZB very fondly. It has shaped me.

     

    Less than a year ago, you left a comfortable job to start out on your own at Veritas Legal. What prompted this move and what role do you envisage for yourself at Veritas Legal?

    I can only quote Robert Frost as an answer to this question. “The woods are lovely, dark and deep, but I have promises to keep and miles to go before I sleep.” I guess I enjoy the growth phase. I enjoy constructing. Both at Amarchand and AZB, I really enjoyed that portion of the journey. In the last decade of my career I guess I wanted to venture out and feel the excitement once again. My decision has nothing to do with any grievances about the past.It was all about the possibilities of the future. My role at Veritas Legal is dynamic at this stage. However, I do not intend to be around forever. Keeping this in mind, I did not use my name or surname in the firm name.This should never be an issue for senior talent aggregation. We have got very experienced resources. In time, I am sure they will step up and I will ease out. But before that, I would like to implement a lot of what I have learnt- what should be done and equally what should not be done. There are a lot of ideas that float in my mind. A lot of initiatives that I could not take up earlier. I intend to live each one of them. I see cultural integrity as a core part of the value system. I see value systems as the only cohesion at work place. I see that only these values will allow resources to flourish and bring excellence at their work. I hope that these will stay central to our growth and we will make all endeavors to see that these are not compromised at the altar of growth or success.

     

    How did large corporate deals come your way and what do you feel for your firm’s success?

    (In its relatively short period in existence, Veritas Legal has already completed around 27 transactions in the field of M&A and private equity. These include transactions for Recipharm in the acquisition of Nitin Lifesciences which is the second largest deal in India in the injectable space and Evonik acquisition of Monarch Catalyst.)

    We have more than 200 filings in various judicial fora. These have come from various sources and from all directions. I am more than pleased at the firm’s performance in the first year. But I take cognizance that the 2nd year will be more challenging than the first. We are determined to work hard and stay focused on our beliefs and hopefully better times will follow.

     

    Do you think the firm might perhaps be growing too fast or is hiring based on the amount of work you have to handle?

    (From having started with just two members, the firm has grown in strength to over 35 people with 25 lawyers in such a short period of time.)

    Yes, I think we have grown faster than we would have liked. However, we have not gone out and recruited anyone. The resources have been referred to us and we have recruited selectively. As matters kept coming, we kept increasing our strength to ensure that there is no burn in the system. Therefore, the growth is more a reflection of the thrust of the economy as opposed to a planned one. In fact, we have no numbers in mind. We have only quality in mind and whatever number is necessary to support the quality will be achieved.

     

    What do you expect from first year associates or interns from law school who wish to work for your firm?

    I do not have any eligibility criteria for interns. How do I put criteria on a student who is himself/herself discovering life? There are only basic attributes of hard work and inquisition. I love working with curious minds. I guess this is inherent and if the resource has it, it will show.

     

    Where do you see yourself and your firm ten years from now?

    Ten years is a long time. However, I hope that we are known for the job we do. We do not necessarily need to do everything, we do not necessarily have to be a size, but we necessarily have to be a happy place to work in and we necessarily have to be excellent at our work. I have a journey in mind with these values. The destination will reveal itself in good time.

     

    You are a member of the Law Society of England & Wales and qualified as a solicitor in England. How does one qualify as a solicitor in England and what advantages do you think it poses?

    Degree as such has a limited value. The knowledge you derive in gaining the degree is invaluable. Having a solicitor’s degree from England to my mind has limited value if you are practicing in India. It is not a “must have”, it is “good to have”.

     

    Finally, what is your parting advice for our readers?

    When I started my career, someone gave me a quote which went as under “Don’t learn the tricks of the trade – learn the trade”.I do not think that I can summarize my advice any better.

  • Sonal Mattoo, Lawyer, on practicing as an independent litigator and dedicating her career for women’s welfare

    Sonal Mattoo, Lawyer, on practicing as an independent litigator and dedicating her career for women’s welfare

    SONAL

    Sonal Mattoo graduated from National Law School of India University (NLSIU) in 1996. Since then, she has been practicing as a Criminal Litigator. She founded Helping Hands, in 1996, which helps implement policies against Sexual Harassment/ gender sensitization and other forms of harassment and discrimination at the workplace, besides carrying out training and investigation on complaints filed with the organization.

    She is also a founder and principal consultant of Mantran Consultants, a firm specializing in CSR activities, Counselling, Diversity policies, and workshops. She supports various clients as an independent Ombudsperson, handling employee complaints.

    Sonal is a Non-Executive Independent Director of Ashiana Housing Limited (a listed company) where she is the Chairperson of Investors Grievance Committee and a member of the Audit Committee and Remuneration Committee of the directors. Sonal is also a Non-Executive Independent Director of Vatika Marketing Limited and V-Mart.

    Sonal’s initiatives in these areas and notably on sexual harassment workshops have been covered twice by ‘Femina’, ‘Around Town’ and ‘again twice’ by Cosmopolitan and Readers Digest ‘Joy’. She has also been invited by E-TV to develop and present 12 TV episodes on ‘Legal and General Issues Specific to Women’ for their program, `Nari’.

    A keen reader, Sonal has written articles on Sexual Harassment for Human Capital (India’s premier journal on HR), newspapers, seminars, and contributed a chapter on `Sexual Harassment’ for `Empowerment of Women in India, 2003,’ published by Law Publishers, Allahabad.

    In this interview she talks about:

    • Choosing law as a career and her experience at NLSIU, Bangalore
    • Her experience as a founder director of “Helping Hands”, Its motive and the activities it indulges in
    • Sexual Harassment at a workplace
    • Choosing to become an Ombudsman and her programme “Nari”

    What prompted you to think of law as a career? If not law, what other options would you have considered for your career?

    I always wanted to be part of a justice process. I didn’t have a plan B, so had to make my plan A work.

    Describe your experience at National Law School of India University as an undergraduate student.

    I was initially intimidated with the level of intellectual competency every student and faculty member possessed. The curriculum was designed to make you think, work hard, understand rather than memorize. An awesome 5 years, difficult to describe, but left a mark on everyone, NLSIU contributed to my personal and professional growth more than any other experience. There was outstanding, dedicated faculty and friends for life were the added bonus.

    How did you become a founder director at “Helping Hands”? What were the challenges that you faced?

    As a litigating lawyer, I found most people completely unaware of their basic legal rights and options. Moreover, 20 years ago the parallel Redressal mechanism was not as refined as it is now. We saw a gap in these two areas and set up Helping Hands to primarily support and educate people about their legal rights and provide a platform for counseling/conciliation/settlement of disputes.

    Helping Hands is a self-funded NGO. Funding was a challenge, so I decided to dedicate a portion of my earnings towards funding the NGO.

     12247020_10153702727915833_1187854441058432058_nWhat are the activities Helping Hands indulges in?

    At a corporate level:

    • Redressal, inquiry into complaints of workplace harassment,
    • Awareness sessions, training of ICC members and employees,
    • Support organizations as an ombudsman.

    At a non-corporate level:

    • Counseling
    • Education and awareness on legal rights and options
    • Resolving and negotiating family disputes.
    • Supporting senior citizens with preparing wills etc.

    What were the initial missions of the organization and what kept you motivated?

    The initial years were focused on supporting women and children who were victims of domestic violence, sexual abuse. The missions also included creating education and awareness around sexual harassment at the workplace.

    What do you think about the current situation of sexual harassment at a workplace? How do you think the situation can be improved?

    I’m fortunate to support organizations that have a zero tolerance policy and go beyond the letter and spirit of the law to ensure they are fair and provide a safe and conducive work environment to all employees.

    However, from the many independent clients, I advise the lack of sensitivity towards victims, corporate failure to take these matters seriously, protecting star performers and senior management, retaliation towards the Complainant are grim realities.

    Mandatory education and awareness are the only way out.

    If I want to become a founder director of an NGO how should I go about it?

    Find like-minded people to join your cause. Passion and commitment are the only requirements. Leave the rest, like registration, etc. to your lawyer and CA!

    How did you become an ombudsman? Is an ombudsman same as a mediator?

    As a member of the ICC, my email address and contact details was often circulated to the employees. Several would write requesting for help to resolve workplace issues, not necessarily related to sexual harassment. They were more comfortable speaking with a neutral third party. Hence, I started to support various clients as an independent Ombudsperson. While the primary effort is to resolve the concerns raised and mediate, often concerns raised call for an inquiry and stringent action basis on findings.

    Why should the leader(s) of an organization listen to an Ombudsman?

    The Office of the Ombudsperson is independent and works in the best interest of the parties involved. A third person’s perspective is always valuable and brings another dimension into the conversation.

    Describe your experience as an independent director of Ashiana Housing Ltd, Vatika Marketing Ltd, and V-Mart.

    Being the only woman on both boards, it’s driven home the point that both sexes must be represented in decision-making processes. The learning has been great for me. My colleagues on the board are incredibly intelligent and competent individuals, we bring our unique experiences on board and learning and listening to them encourages you to strive harder. I have finally learned to read a balance sheet!

    What were the issues you covered in the programme “Nari”?

    The programme covered legal issues pertaining to women, dowry, maintenance, legal rights as a victim, etc.

    How exactly would you define social entrepreneurship?

    The intention to help and bring about a positive change in the lives of people if given a formal structure and direction can have a wider reach with greater impact. The ROI is making a difference in people’s life.

    Do you think having family members or mentors with a legal background help in this profession?

    I’m sure it does, but it’s not a requirement. Anyone with passion, drive the ability to work hard and committed to the cause, irrespective of their support structures will be a success in the legal profession.

    What would be your advice to our readers?

    Do what you love and enjoy, the long hours and hard work won’t tire or bore you.

  • Arun Gupta, Founder, Factum Legal, on a profile in Corporate Commercial work and the Corporate Secretarial

    Arun Gupta, Founder, Factum Legal, on a profile in Corporate Commercial work and the Corporate Secretarial

    Arun Gupta is a Fellow member of ICSI and a member of the Bar Council of Delhi. He graduated with a B.Com(H) degree in 1995 followed by CS degree in 1999 and later qualified in law.  Arun is a lawyer with more than 15 years experience in Corporate and Commercial matters.

    Arun acted as a key contributor to the book authored by Corporate Professionals titled “Insight into Companies Bill 2012” and he is also an author of a book titled “Companies Act 2013- Impact on foreign companies in India” published by CCH, Wolters Kluwer in 2014.

    He started his own firm – Factum Legal, Advocates and Solicitors in 2013.

    In this interview he tells us about:

    • Life, law and the choices he’s made while pursuing it.
    • The benefits of having a commerce background while practicing corporate law and the value of additional degrees.
    • Factum Legal – its establishment and his plans for expansion.
    • His publication and the role of academic pursuits in a lawyer’s career.

     

    How would you like to introduce yourself to our readers, most of whom are students studying law?

    This is Arun Gupta, a Law Graduate and also a Fellow Member of ICSI, presently practicing as a lawyer in Corporate & Commercial Laws. I love to learn a lot and I’m always keen to upgrade my knowledge of changes in law and the impact of the same on industries.

     

    Tell us about your life before you joined college. Where did your interests lie as a student and what made you gravitate towards law?

    I was from a business family so as usual, I did not plan anything in my childhood. So I tried my luck in the family business also along with my studies, but after just a few months I realised that this is not my cup of tea and God had planned something else for me. I was always good in terms of scoring marks in school exams and enjoyed the law subjects, while doing regular B.com (h), so I think that was the beginning of an inclination to enter the field of corporate law.

     

    You specialize in corporate matters, Mergers & Acquisitions, tax law, among others. How did your interests develop in this field?

    Yes I specialise in corporate matters, Mergers & Acquisitions, Due Diligence, Compliances & Governance etc. Actually being a qualified company secretary and practitioner of Corporate Law what I enjoyed the most, from the beginning of my professional career, was to find solutions in all type of transactional issues in restructuring and also assessing and finding the potential risk in any acquisition or joint venture apart from governance and compliances issues. Being part of some fund raising activities including Initial Public Offer (IPO) & Preferential Allotment etc by corporates in India, the interest towards such areas developed and sharpened.

     

    How helpful was your background in commerce in aiding you with a better understanding of corporate law? Would you recommend professional degrees like the Company Secretary degree or any other such degree?

    This is very interesting, I strongly believe that a commerce background really helped me a lot in understanding commercial law, Economic and accounting issues. I initially registered myself for the science stream after passing class X, but after 5-7 days I shifted to the Commerce stream and I am extremely happy for that decision and thankful to one of my teachers for such wonderful advice. Well, I believe that an LLB degree itself gives a wider horizon in commercial, corporate, and Personal laws, but if somebody wants to explore Corporate law then a Company Secretary course would definitely add value to that person. My CS degree really helps me a lot in all kinds of Corporate Transactions and General Corporate Advisory, however one must not forget that the most important part in practical life is not really additional degrees but the approach in handling complex situations.

     

    Tell us about your initial years in practise – from starting out independently to the time you founded your own firm. What challenges did you face initially?

    Well, the initial years of practice were very tough, I started practicing from the beginning of my professional career and no one in my family was either an advocate/ Chartered accountant or company secretary, so to setup an independent practice was really a daunting task. But I did not bother about monetary earnings, what I concentrated on was whether I was earning knowledge or not and that really helped me in setting up own firm in 2013 again. So I think you need to maintain your patience also to be in the practice of law.

     

    arun-gupta-1

    Your firm, Factum Legal, has been featured as one of the Promising Legal consultants of India, 2015 by SiliconIndia. Tell us about the firm in general and the kind of work you deal with on a daily basis.

    Yes, we have been recognised as one of the Promising Legal consultants of India 2015 by a business magazine Silicon India and the credit goes to the hard work of our team factum legal and the trust of our clients. We are a boutique law firm providing a comprehensive range of legal services and solutions for domestic and international clients. Our practice area embraces advisory, execution and representation services and dispute resolution.  We are involved in all kinds of M& A transactions, Legal Due Diligence, Commercial Agreements, Corporate Compliance, Governance & Secretarial Practice, Private Equity help desk, Litigation & Alternate Dispute Resolution, Inbound & Outbound Investment Transactions, Registration and Licensing Services, Renewable Power Projects.

     

    What would you advise young lawyers who are starting out working in the corporate sector. What areas might they find interesting?

    My advice is don’t jump into corporate law because it is a lucrative career, but do what you enjoy most. We are lucky that we are born and practicing the profession in India as there are ample opportunities in every sphere of Legal services, so you should choose the subject based upon your knowledge and interest. My advice to all young lawyers and students is that there is no shortcut to gain knowledge, you have to work hard to become an expert in your area of interest.

     

    You have authored a book on the Companies Act 2013 and have quite a few publications to your name. How helpful is an academic pursuit in the life of a practising lawyer and how can one find time out for the same considering the hectic schedule one inevitably finds himself in?

    Authoring a book or writing articles and publications needs a huge time investment, and you cannot do such things just for the sake of doing them. You can write articles on a particular topic when you have command over the subject. The practice of law is based upon knowledge and expertise and an academically strong lawyer can really achieve a lot in a short period of time. If you ask about finding time, then I am of the view that time is essential, time is precious but if you enjoy something you always have time to pursue those things. Just to inform you, now also, I am working on a book relating to Companies Act 2013.

     

    In the present environment of cross border transaction among corporates, what is your strategy to expend internationally?

    We as a firm, believe in collaboration and mutual cooperation, so in that direction, we have joined an international legal network, which will surely help us in gaining knowledge and executing cross border transaction with local and cultural expertise. Further we have also entered into a strategic relationship with a European Full service Law firm ‘Adamas’ to serve our clients in their cross border transactions in the best and most effective manner. We will continue to expend internationally with such mutual cooperation for another few years.

     

    Finally, what would be your parting advice to our readers?

    I would like to suggest everyone ‘Have a zeal to learn, work hard, and discover your interest area as early as possible’ and the rest will follow on its own.