Super Lawyer

Tag: financial law

  • “Every client, every cross examination, every meeting, every briefing in itself presents a new experience and contributes to one’s growth”- Priyanka Sethia, Founder of the Chambers of Priyanka Sethia

    “Every client, every cross examination, every meeting, every briefing in itself presents a new experience and contributes to one’s growth”- Priyanka Sethia, Founder of the Chambers of Priyanka Sethia

    This Interview has been published by Pragya Chandni and The SuperLawyer Team

    Ma’am, can you please provide a brief introduction about yourself and your journey into the field of law?

    Hi. I am Priyanka Sethia and I have been practicing at various Courts and Tribunals across India, as an advocate for over 10 years. 

    I graduated in the field of law in 2013 and got an LL.M. in Corporate and Financial laws in 2021, while being in the profession and gained further certifications as opportunities presented themself.

    I am a certified negotiator accredited by London School of Economics & Political Sciences [2022] and a certified POSH (Diversity & Inclusion) Trainer [2023].

    I started my own law chamber – Chambers of Priyanka Sethia, in 2021 and we take up civil and commercial matters for various individual and corporate clients as well as deal in corporate practice.

    With over 10 years of experience, you have established yourself as a prominent figure in the legal fraternity. What inspired you to pursue a career in law and eventually become an advocate?

    I have shared this before, but this story never gets old for me. So, my career in law wasn’t really a given from the very beginning and I am a first generation lawyer. My roots find themselves etched in a very traditional business family. It so happened that one day, I was late to school by a few minutes and the Head of Department, Accounts who was in charge of the School Assembly that day, asked me to go back home as I was late!

    It was however only my first late show and I was aware of the finely printed school rules and regulations, set out in our Daily Academic Planner that permitted a student three late shows before being sent back for the day. With great respect, I politely took out the Academic Planner from my bag, opened the rules section and read it out to the said school teacher which stated that I had to be given three opportunities/warnings, before I could be sent back home for being late. I certainly could attend school that day but only saw disdain in that teacher’s eyes for me, on all days thereafter. Thankfully it was my last year in school and I then realized the power of Laws and Rules framed thereunder and the joy of knowing and abiding by it and of course realized my interest in reading the fine print.

    Decision to pursue law came organically to me but the decision to choose between Litigation vs Corporate Law never comes easy for anybody. While the heart wants to be in the courts and explore the passion of arguing vociferously for the clients and their cause, the mind seeks to showcase the drafting skills. So now, my Chamber is trying to strengthen both its litigation team and its corporate practice team, by continuously levelling up with diverse certifications, hiring new talent and continuous practice. At the moment, I head both the verticals and with a recent certification in POSH (Diversity & Inclusion) Training, I hope to offer various training to Corporates, in this arena.

    You founded the Chambers of Priyanka Sethia in 2021. Could you share the motivations behind starting your own law chambers and the vision you have for it?

    I have worked with some of the most incredible seniors in Profession who have mentored me throughout and continue to handhold me through difficult situations. After assisting them for about 8 years, I realized that I was ready to explore legal practice from my own perspective. 

    And so, post the Covid scenario, with experience that I had gathered from my seniors and mentors, and a postgraduate degree in my choice of practice area, I delved into independent practice and started Chambers of Priyanka Sethia in November, 2021.

    My vision for the chamber is to render exceptional legal services to our clients while being on an upward trend in the number of fresher hirings. I take pride in the fact that I welcome freshers with 0-6m experience and it’s lovely to draw inspiration from their passion and exuberance. On the work front, the chamber is striving to strengthen both its Litigation Practice and Corporate Practice. 

    You are a certified negotiator accredited by the London School of Economics & Political Sciences. How has this certification influenced your approach to negotiations, and what role does negotiation play in your legal practice?

    While engaging in Corporate Practice, often we find ourselves negotiating terms of the contract on behalf of our clients. Many-a-times, the other party is situated outside India and has a completely different approach towards the drafts/agreements compared to the Indian scenario. Being sensitive to their background, ethos, laws and culture is the key. My certification in negotiations has helped me in bridging that gap and comes in handy especially while dealing with International Corporates and has added an edge in fostering new relationships, executing contracts, and arriving at settlements. 

    Your experience covers a wide range of legal areas, including corporate practice, commercial litigation, alternative dispute resolution, and more. Can you highlight some key experiences that have significantly contributed to your growth as an advocate?

    Every case is a new learning. One cannot limit their learnings to the law. I strongly believe every person we meet is a new experience, we become wiser with each interaction. Every client, every cross examination, every meeting, every briefing in itself presents a new experience and contributes to one’s growth.

    Your expertise extends to regulatory compliance and privacy laws. How do you approach these complex areas, and what challenges do you typically encounter in ensuring compliance for your clients?

    To cite one instance, often we find that the law enforcement agencies are not well trained to understand and implement the law at the grassroot level. Recently, while dealing in a legal metrology matter, we observed that the department officer had no exposure to a couple of years old amendment in the law and required sensitization. Routinely issuing notices just to meet targets is a norm and needs to change. 

    You champion the cause of women emancipation. How do you integrate this advocacy into your legal practice, and what initiatives have you undertaken to contribute to diversity and inclusion in the legal profession?

    I believe having freshers on board or having non NLU advocates in the team is the biggest inclusion point in our profession. I am open to having good talent on board without any preconceived notions or unconscious biases.

    Besides, I take up matrimonial matters for marginalized women pro bono and ensure that they are taken to a logical conclusion.

    Considering your successful journey in law, what advice would you give to fresh graduates aspiring to pursue a career in law and make a mark in the legal profession?

    Success is a subjective term. On the work front, my request to fresh graduates aspiring to pursue a career in law is to be consistent. Do not give up without giving it a fair shot and some time.  Also, there is a great demand for lawyers with expertise in niche areas. One could also choose their practice area earlier on in their career and proceed further in that direction. 

    And, Pursue a hobby alongside the profession. This helps in keeping sane as well as sticking through. 

    Get in touch with Priyanka Sethia-

  • “Travelling to various Courts per-se add a great value, however, arguing a matter before another Court apart from your regular Court adds more experience and sharpens the argumentative skills”- Devmani Basal, Associate Partner at SNG Partners

    “Travelling to various Courts per-se add a great value, however, arguing a matter before another Court apart from your regular Court adds more experience and sharpens the argumentative skills”- Devmani Basal, Associate Partner at SNG Partners

    This Interview has been published by Pragya Chandni and The SuperLawyer Team

    Sir, could you please share the story of how you initially decided to pursue a career in law? Were there specific experiences or influences that led you to choose this path? 

    First of all, I am a second generation lawyer. I was motivated to pursue law from the beginning as Law is a noble profession and contributes a lot to society. Since my childhood, I have seen my Father’s contribution towards society as his core practice area was Criminal Law. However, during my college days, I was much inclined to pursue my career in the stock market being financially connected which goes to my core passion. Simultaneously, I was pursuing Law and finally, I decided to shift myself to Law especially in Commercial matters, which is a mixed bag of finance and commerce. I, then, shifted to Delhi.

    With almost 12 years of experience across litigation, commercial arbitration, and consumer and company litigation, what motivated you to specialize in these specific areas within the legal field? 

    I am passionate to read and learn more and more deep into financial activities related to business and commerce. This interest connects me with the litigation and enlightens me to understand the problem of a businessman in a much better way, which ultimately led to making a business decision. Law can be practiced by anyone but having basic knowledge over the general subject of the case either commercial, arbitration or consumer or company makes things easier to resolve the query in an effective way. Like an Advocate having understanding of stock market would be able to pursue a case related to stock market than a novice. Since I have interest in reading these topics, I was more inclined to specialise in the above specific areas in the legal field, so that I can deliver better than ordinary. 

    Your career includes appearances before various High Courts, the Supreme Court of India, and various tribunals. Can you highlight a particularly challenging case you’ve worked on and discuss the strategies you employed to navigate through it successfully? 

    It was in Sep’ 2014, when I caught up in a matter before Hon’ble Supreme Court. I briefed a Senior Advocate, however, he was stuck in a traffic jam and could not make it on time. I was called upon by the Bench to argue. With hesitation, I began and strenuously argued the matter. When I finished my arguments, my Senior reached the Court. However, by that time, the Hon’ble Court reserved the matter for order. The judgement was delivered in the month of March’ 2015 and finally, we succeeded. This case taught me to always be ready with the brief irrespective of engaging a Senior Advocate. I have fearlessly appeared before almost 11 High Courts of the country and numerous District Courts and Tribunals across the country and independently argue the matters. This rich experience and exposure are completely devoted to my Senior Colleague Mr. Ajay Abhay Monga Advocate, who always reposed faith on my skills and offered opportunity as and when it appeared.  

    Given your expertise in Consumer Laws, Commercial Law, and other areas, how do you stay abreast of the ever-evolving legal landscape, especially with regards to amendments and changes in laws and regulations? 

    In the current scenario, especially the deep presence of online updates and platforms, it becomes easy to keep updated. However, specific laws get evolved as and when I work upon a case file. I must state that sitting in Court, in idle time, is indeed a good way of learning and keeping updated, apart from learning argumentative skills and to have a broad idea about the temperament of a Judge.

    You’ve been associated with significant reported judgments, such as Millennium Wires vs. The State Trading Corporation of India. Can you share the role you played in these cases and the impact they had on your legal career? 

    As explained to you above, the case you highlighted was a game changer for me as it was an opportunity to independently argue a case before the Hon’ble Supreme Court in addition to the fact that many stakes were involved. I was quite nervous in the beginning, however, after the hearing concluded, I felt immensely satisfied with my performance and it boosted my confidence to argue a case before any Court. I was involved in the above case since it was before the Hon’ble High Court of Delhi, therefore, I had good command over the facts and coupled with the fact that I briefed the Senior Advocate for hearing, so I was quite prepared with the case. The preparation, briefing and discussion with Senior and deep involvement in the case since inception, in fact, gave power and confidence to present the case independently.

    Having worked on matters related to FEMA, PMLA, and other financial regulations, how do you approach advising senior management on the legal implications of business decisions, particularly in the context of financial laws? 

    Advising on the legal implications of financial laws certainly depends upon the kind of business my client is involved in coupled with their requirements. Those days are gone by, where businesses can flourish without legal support. Presently, the laws are quite stringent, which require legal advice at every stage of business decisions. Therefore, after understanding the business model and the requirements of a particular trade, I would advise my Client in making its business decisions in line with the financial laws.

    From being an Associate to now being an Associate Partner at SNG & Partners, can you discuss the key milestones and challenges you faced in your career progression? 

    I belong to Gwalior, Madhya Pradesh and shifted myself to Delhi in Sep’ 2011 to pursue my career in law. Since, I was not much active during my college days, therefore, I was completely raw, when in fact, I entered the profession. I initially practiced with some Advocate for a period of 4 months and thereafter, I began my career with SNG & Partners in March’ 2012. Our Managing Partner, Mr. Sanjay Gupta is a kind-hearted and a great mentor, who always encourages the juniors. In the beginning, rushing from one Court to another gave me an exposure to a variety of laws. I was working under Mr. Ajay Abhay Monga, Senior Partner, who gave me ample opportunities to argue the matter independently. Later on, he handed over the outstation cases portfolio to me, which added more exposure in my experience. Travelling to various Courts is per-se add a great value, however, arguing a matter before another Court, apart from your regular Court, adds more experience and sharpens the argumentative skills. Travelling to different Courts gives independence as well as enhances decision making without the support of your colleagues. It also helps you to understand the local practices of various Courts. I must add that there are no free lunches anywhere and the same goes with different Courts in different states. You will face challenges like language barriers as all the Courts in this country are not following English as their base language but these exposures not only add experience but also shape an Advocate to argue a matter in challenging circumstances as well. My journey with SNG is full of challenges in each case, however these challenges make an Advocate. I am always thankful to my Seniors for always appreciating my work and finding me suitable for new challenges. A special regard to Mr. Monga, who has been a great mentor for me and guided me in my hard times and always motivated me.

    As someone with a rich and varied legal career, what advice would you give to fresh law graduates who are just entering the legal profession? What key lessons have you learned along the way that you would like to share with them? 

    A law graduate must understand that law is a learning process, which would never end. Therefore, reading and understanding the law and its implications are essential. Like practice makes a man perfect, similarly, the more you read, the more you gain. Law graduates, during the initial days, must visit Court everyday and observe the Advocates arguing their cases and the kind of questions raised by the Benches. This will make them understand how the case is presented. You can make notes and read the file thoroughly, however, there are certain spontaneous questions, which would arise and those questions can be answered, only with your general acumen. A law graduate must not refrain from reading the topics, which are not necessary for the kind of legal practice he/she is involved in. He/She must understand that presenting a case before the Court is an art crafted by an Advocate. Thus, every advocate has a different way of presenting the case. Thus, the argumentative skills can only be learnt, when you hear and listen in a Courtroom. I wish All the Best to all the Law graduates.  

    Get in touch with Devmani Bansal-

  • “Young lawyers should avoid being a generalist and look for specialization. Law is a profession and should be treated as a career which spans 30-40 years.” – Anil Choudhary, Partner at Finsec Law Advisors.

    “Young lawyers should avoid being a generalist and look for specialization. Law is a profession and should be treated as a career which spans 30-40 years.” – Anil Choudhary, Partner at Finsec Law Advisors.

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

    Your journey includes an LL.M. from Harvard Law School and a B.A. LL.B. (Hons.) from NALSAR. How did your time at these prestigious institutions shape your approach to law, and do you have any memorable experiences you’d like to share from your time at Harvard?

    It was a privilege to be part of the two leading law institutions both in India and the world. As a law student, I was exposed to the best professors and brightest of legal minds which helped me develop my curiosity in law. I understood very early that law as a subject is ever evolving and there are no right answers in law. It is all about thinking in pairs where you need to think both sides of an argument and not rush to conclusions. 

    HLS for me was an exposure to the international world as we had students from more than 50 countries in the LLM batch. I made friends from various countries and understood their culture and thought processes. HLS not only made me a better lawyer but more than that it gave me tools to understand the world and its people better. 

    As a member of the New York Bar, you bring an international perspective to your practice. How has being admitted to practice law in New York influenced your career, and what unique insights do you gain from practicing in both India and the U.S.?

    I can confidently say that NY Bar was the toughest examination I gave in my life and for which I worked the hardest. As a lawyer trained in India, it is more difficult to crack the NY Bar since you would need to unlearn Indian laws and focus on both federal and NY state laws which at times would have conflicting positions. 

    Although I don’t actively practice US laws, having been exposed to securities law jurisprudence of the US- it helps tremendously in my practice in India. Most of Indian securities laws have been made on the similar lines as US laws and while Indian laws are still at a developing stage- US laws have an established history and jurisprudence. I often refer to US laws to draw parallels while assisting securities market players in both advisory and disputes practice.

    Congratulations on co-authoring the book ‘Securities Regulation – Primary Market Offerings in India.’ What inspired you to delve into this subject, and how has the book been received in the legal community?

    In my first few years of practice, I was a capital markets lawyer and had worked on several IPOs. I quickly realized that most of the laws surrounding this practice have been influenced by US laws and the knowledge of US securities laws is essential to excel in the field of securities laws. This motivated me to do my LLM at Harvard and once I returned I was itching to put down on paper a comprehensive legal book on doing IPOs in India. There was no existing literature and for me it was an opportunity to understand the Indian laws contextualizing it to the prevailing US laws. The book was more of a learning experience for me to better understand the policy rationales and choices India has made to regulate the Indian securities market as compared to other developed jurisdictions.

    I have heard that few law schools and MBA colleges use the book as part of curriculum and most law firms also have a copy of the book. I believe it was well received but it would now need an update and reprint for which I am trying to motivate myself.

    Finsec Law Advisors has likely seen various achievements during your tenure as a Partner. Can you highlight a moment or accomplishment that you are particularly proud of, either for yourself or for the firm?

    FLA is one of the very few firms in the country that is a specialist firm in the field of securities laws and financial regulatory space. We have been consistently ranked as the Top Tier in all Indian and global rankings of laws firms specializing in Indian securities laws.

    The Firm over a decade has been the forerunner in thought leadership and policy development of securities laws. We are active in advisory, disputes and policy work in the financial sector laws. Over the years, we have not only advised top marquee clients like top blue chip listed companies, largest mutual funds, stock exchanges, FPIs, AIFs etc. but have been actively assisting the growth of the fintech industry with clients like Zerodha, Smallcase, Navi etc. We are proud to develop a niche practice area focussed on expert and quality services to our clients and forerunner in thought leadership and policy development.

    You’ve been actively involved in academia, giving guest lectures and teaching a credit course on Securities Regulation at NALSAR University of Law. How does your involvement in academia complement your legal practice, and what insights do you gain from interacting with students?

    We as a firm work on a very focussed area of practice and therefore for us it is not only important that talents joining the firm not only have proven academic excellence but also have a keen interest in securities laws. For us law school courses and other academic endeavours help us develop students’ curiosity in the subject and also assist us to go back to basics to explain laws in first principles. Our practice requires specialized skill sets and continuous learning, teaching stints and guest lectures also lead you to re-read the laws and overall help me in my professional growth.

    With over 17 years of experience, you’ve seen the legal landscape evolve. What changes in the legal industry do you find most intriguing or challenging today?

    I think there are two major shifts in the legal industry space- one is technology and the other is specialized skill sets. With the development of technology, starting a legal practice is just one degree and a computer away. Technology has ensured the barriers between clients and experts have been diminished and all services can be provided without requiring any physical meeting or sharing of documents. Now, with AI etc the legal industry would evolve further where the first level of research or first draft of an opinion or suit can be drafted by AI. The human skills would be to review and verify the technology output.

    Since technology would replace general research and drafting skills, top money would be paid by clients only for specialist lawyers. This shows the shift in trends in the legal industry wherein specialist law firms having the technical expertise and experience in narrow practice focus would only survive in the next decade or two. 

    Your expertise extends to regulatory proceedings, including cases of insider trading and securities fraud. Can you share an interesting aspect of this work that people might not be aware of?

    As a securities lawyer, we need to not only understand the regulatory framework but also understand workings of the securities market like trading, settlement, F&O and roles of intermediaries involved such as brokers, clearing members, stock exchanges, custodians etc. It is essential that we understand the securities market eco-system as we regularly need to analyse trading patterns, fund flows etc towards advising our clients. For effective advice, both legal and factual matrix need to be analysed carefully towards providing optimum solutions for the client.

    Also, we assist our clients in development of new products especially in fintech space and policy development wherein we assist in creating a regulatory framework for new services, platforms in the financial industry. We often work on complex technical issues in the space of payment systems, exchange control and other SEBI and RBI regulations that require us to be up to speed with the latest developments both in the field of law and technology.

    Another interesting part of my practice is that I not only get to advise clients on various financial regulations but also I regularly appear before SEBI and SAT to argue matters. Working on policy, compliance and regulatory proceedings/dispute at the same time gives us an edge on the regulator’s mind. We understand why the laws are framed, how the laws should be implemented and lastly, how it is enforced which help us to defend/advise our clients better.
    Thinking about the future generation of lawyers, what advice or insight would you offer to those aspiring to follow in your footsteps and make an impact in the legal field?

    I think young lawyers should follow their heart and choose a field that interests them the most. Only if you enjoy your work can you excel. Young lawyers should avoid being a generalist and look for specialization. Being an expert in one field of law would help them be less reliant on jobs in big law firms and help them set up their independent practice or law firm in the future. Law is a profession and should be treated as a career which spans 30-40 years and one should not look out for short term goals and treat it as a job without any long term goals. Lastly, I would advise young lawyers to be more patient and showcase more perseverance in their chosen field- in law nothing is more rewarding than experience and dedication which leads to self confidence of the lawyer which translates confidence of clients to the lawyer.

    Get in touch with Anil Choudhary-

  • “To be a successful professional one has to have a fire in the belly and eyes on the target.” – Embark on a journey through the professional milestones of Prakhar Sharma, General Counsel of Kotak Alternate Asset Managers

    “To be a successful professional one has to have a fire in the belly and eyes on the target.” – Embark on a journey through the professional milestones of Prakhar Sharma, General Counsel of Kotak Alternate Asset Managers

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

    Could you share a bit about your professional journey, from your early days in the legal field to your current role as General Counsel at Kotak Alternate Asset Managers?

    I still remember that when I started my career as an intern, the first task assigned to me was to draft a joint venture agreement and I had no clue what to write in the contract other than the name of the parties ! Unfortunately there was no google to help so it took me a week to do my research and then draft my first contract at work which was quite appreciated. 

    I’ve grown up with middle class values and started my professional journey from ground up, whether it was drafting contracts or plaints, attending courts, doing legal research or conducting due diligence exercises. 

    Subsequently, my international experience of leading complex cross border M&As as well as handling litigations in foreign courts further helped me in taking a more holistic approach on various legal issues. 

    Legal profession has gone through a sea change in the last two decades. Advent of technology and evolving regulatory framework has made the profession quite interesting. While complexities may have increased, the fundamental principles remain the same.

    As someone who has successfully navigated the realms of litigation, dispute resolution, and complex investment banking transactions, how do you approach the challenge of balancing these contrasting worlds, and what strategic approaches have you found effective in doing so?

    It’s just like when we are in school, we learn all the subjects with the object of excelling in each one.  As a chartered accountant I love finance and numbers that helps me understand complex business transactions, while law has been my passion. So I’ve always adopted a holistic approach towards managing litigations as well as investment banking transactions. I believe that every contract, at inception itself needs to be analysed with the “what if this were to test the courts” scenario to ensure it is robust.

    You’ve been a key player in numerous cross-border M&A deals, private equity transactions, and capital market transactions. What insights can you share about the evolving landscape of such transactions, and how do you stay ahead of the curve in this dynamic environment?

    M&A and private equity deals have definitely become more complex and that is because the business landscape is dynamic and the regulatory framework has to keep up with the changing pace. But the root of even the most complex deal is a simple business transaction. The effort should be to understand that underlying basic transaction and the rest will fall in place.

    Technology is another aspect that one needs to imbibe in the legal profession, as early as possible, to stay ahead of the curve. Use of central repositories, data analytics tools, AI have become a necessity for developing and analysing various alternatives for strategic decision making.  

    Your involvement in the CII panel for insolvency and bankruptcy laws showcases your thought leadership. How do you contribute to industry forums, and what motivated you to recently publish a research paper on IBC in the Insolvency & Bankruptcy Board’s publication “Anusandhan” (2022)?

    I regularly contribute to various industry forums through paper presentations in various seminars and conferences, writing articles in books and journals, providing my inputs on policy matters to market regulators and government bodies through discussion papers etc. This also helps me in staying updated on the latest market as well as regulatory trends.

    I have been actively practising and advising on matters relating to the Insolvency and Bankruptcy Code (IBC) for quite some time now and my research paper on IBC, which got published, was an attempt to discuss the emerging trends in the bankruptcy law.

    You’ve achieved notable success in NPAs recovery and litigation at Kotak Mahindra Bank. What challenges do you typically face in these areas, and what principles guide your approach in dealing with complex cases?

    Litigations whether in relation to contractual breaches or NPA recoveries are like edge of the seat thrillers which keeps you hooked on to them till the climax i.e till a final court verdict is not received. One has to pursue each matter diligently on its own merits till the last. Like one of my seniors once aptly put it “there are only a few arrows available with you in your armoury, the trick is to know which one to shoot and when to shoot”.

    Apart from your professional achievements, you’ve been awarded the “Super Mentor” in the ‘Evolve’ Mentoring Program at Kotak Mahindra Bank. How do you approach mentorship, and what advice do you offer to mentees aspiring to succeed in the legal and banking industries?

    “Evolve” was an excellent initiative by Kotak Mahindra Bank, in which there was a mentor assigned to each mentee for a year. The aim was to create an informal, meaningful and interactive relationship between the mentor and the mentee to ensure that the mentee is able to utilise the practical insights from the learnings and experience of the mentor. 

    I believe it’s very important that one constantly shares one’s  learnings and experiences with their team members and younger colleagues. This is a two way process in return one also gets to learn from their experiences.

    Now, as the General Counsel at Kotak Alternate Asset Managers, what aspect of your current position excites you the most, and how do you foresee the future of PE in India evolving?

    Being a part of the strategic decision making process and acting as a business enabler is quite exciting. The role of the General Counsel is that of a “solution provider” and not that of someone who merely “identifies a problem”. Everyday brings new challenges and learnings, so I feel like a student going to school and eager to learn something new.

    The PE industry has just started shaping up in India and galloping its way to stand in line with banks and NBFCs as a major source of capital for the industry. A lot can be credited to the “India Story” and the continuous economic reforms coupled with conducive regulatory framework that has drawn the investors towards alternate assets (PE investments). Kotak Alternate Assets, being the largest domestic asset managers today manages assets way over USD 18 billion ( AUM exceeding USD 18 billion). What is now required is that this momentum should carry on.

    How do you unwind or indulge your personal interests to maintain a healthy work-life balance, and could you share a bit about your hobbies or leisure activities?

    I like reading and watching movies. One can relate to a lot of work life scenarios from books and movies and they can serve as a good break out from the monotony. My other passion is sports, and whenever I get a chance, I play badminton and squash. It’s a natural stress buster.

    Given the evolving landscape, how do you see technology influencing the legal profession, especially in areas like alternative assets?

    Technology now plays a key role in the legal profession and alternative assets is no exception. We leverage standardized templates for most of the routine contracts and maintain centralized repositories. Proactive communication with all stakeholders is a must to ensure clarity and consistency throughout the investment lifecycle. With continuous risk analysis, transparency, and data-driven insights, we optimize efficiency and resource allocation. One can remain ahead of the curve by continuously learning and embracing emerging technologies.

    Given your extensive experience and expertise, what suggestions or advice would you offer to the upcoming generation of legal and financial professionals, especially those aspiring to take on leadership roles in the industry?

    I believe that to be a successful professional one has to have a fire in the belly and eyes on the target. A constant hunger for work and learning and by working I mean working smartly, hard work is a given. 

    Get in touch with Prakhar Sharma-

  • A luminary in the legal realm with a diverse portfolio, shares his transformative journey from litigating lawyer to acclaimed General Counsel – “A Riveting Conversation with Dr. Mukul Shastry, Renowned General Counsel and Executive Director of Cube Highways”

    A luminary in the legal realm with a diverse portfolio, shares his transformative journey from litigating lawyer to acclaimed General Counsel – “A Riveting Conversation with Dr. Mukul Shastry, Renowned General Counsel and Executive Director of Cube Highways”

    This interview has been published by Priyanka Karwa and The SuperLawyer Team

    Dr. Shastry,  We are extremely delighted to have you with us for this interview.  Could you please introduce yourself for our readers and share the pivotal moments that led you to pursue a remarkable career in law, leading to your current role as the General Counsel and Executive Director at Cube Highways?

    At the outset let me thank Super Lawyer, it is absolutely my pleasure to be here with you. As regards my journey, I belong to a family of lawyers and judges. My father was a judge (District Judiciary), other uncles too judges and lawyers. Therefore, doing law was something in the blood. Post my studies I started as a litigating lawyer before Rajasthan High Court, Jaipur handling cases such as criminal bails, civil miscellaneous appeals, arbitration petitions, MACT appeals etc. As I was bright in academics, I completed my Masters (securing second rank across university) and also cleared UGC-Net in my first attempt. Hence, I was given a part time teaching assignment in Rajasthan University, Jaipur. 

    During that time Competition Act, 2002 was enacted which intrigued me as to why we need a law to regulate competition in the market and I enrolled myself in Ph.D. working on the hypothesis whether Anti-dumping duties would be relevant once Competition law comes to force. However, as there wasn’t much material in Jaipur at that time, my Ph.D. supervisor guided me to go to National Law University, Jodhpur. 

    At that time in NLU, Jodhpur, Prof. A.K. Kaul was the Vice-Chancellor who was an expert of Trade & Competition Law. He was kind enough not only to guide me but also to tell me what all materials I must read to understand the conundrum in other countries before I can start researching Indian markets. 

    Prof. Kaul goaded me that I must not sail in two boats. On one hand, I was practising law in Jaipur and on weekends was coming to Jodhpur to do my research. He insisted that I focus on one thing and I chose academics. At that time there was a vacancy in NLU, Jodhpur and I applied and cleared it. This is how my academic journey started. 

    After spending three and half years at NLU, Jodhpur and post completing my Ph.D. I wanted to work with a regulator. As during my research, I understood that the regulators’ perspective is the most important to execute the sector specific legislations. This was 2009 and at that time Competition Commission of India where I wanted to go did not have any vacancies, but RBI came out with Legal Officers vacancy. I applied and wrote the exam. I topped the All-India RBI Legal Officer – Grade-B, 2009 examination. 

    This is how my journey as a central banker started. In RBI I spent time giving legal advice to different departments such as Foreign Exchange Dept., Banking Supervision Dept. (DBS) etc. I spent around five and half years in RBI. After that I took a sabbatical and prepared for GMAT. I applied to IIM, Ahmedabad (India’s premier B-School) and got through. I did my MBA from IIMA (PGPx – One-year full time) and from there I was placed in RPG group, Mumbai.

    This is how my corporate journey started around a decade back. In the RPG group I used to handle the legal profile as well as the SPOC for a DBFOT project – Bikaner Sikar 440 KV line. I learnt the nuances of corporate life and applied my learnings from litigation, academics and regulator mixed with knowledge learnt at IIMA. 

    From RPG I went to Adani Group handling ports and logistics legal matters and then to Welspun Enterprises as Head Legal and now the General Counsel for Cube Highways.  

    Your journey includes a diverse range of roles from litigating lawyer to teaching criminal and competition law, and now as the General Counsel and Executive Director of Cube Highways. How has this varied experience shaped your perspective on legal practice, and what unique insights do you bring to your current role?

    An interesting question. The experience as a litigator turned academician turned central banker and then General Counsel has taught me different things. I understand how the court systems work and thus it helps in giving those advice from the perspectives of court practices. At times despite one’s case being strong on merits, it can have technical glitches and that can be disastrous. Therefore, I am extremely cautious as to how not to give those technical lose points whether it be laches, delay, non-response to a letter, conflict etc. 

    The academic knowledge helps me in doing in-depth research and those theoretical questions and acumen laced with practical prism helps in zooming in to minutiae details. The experience of a central banker helps in understanding how a bureaucrat will look into the decisions taken by a corporate. 

    Thus, the advice which I provide is holistic from litigator, academic, regulator and a GC’s perspective. This helps in much nuanced and sophisticated advice. 

    You’ve achieved a remarkable academic milestone with qualifications like LL.M, Ph.D. in Trade & Competition Law, MBA from IIM Ahmedabad, CS, and CAIIB. If you could go back to your early academic years, what advice would you give to yourself, considering the wealth of experience you’ve gained over the years?

    Well, if I sit in a time machine and go back, the advice I would give is that at times in pursuit of the different academic knowledge one loses focus on other good things in life. I now see my younger colleagues who are in college and along with being bright in academics are also focusing on hobbies such as sports, drama, singing, writing, playing some instrument etc. I still rue that I have not developed any such hobby that is necessary in shaping up your personality. 

    Thus if I could rewind, maybe I will pursue one or two courses less but would love to learn acting or singing or dancing or maybe play some sport like cricket, chess or badminton and  a much more engaging level. 

    Apart from your legal prowess, you have an extensive academic involvement, serving as Chairman, Industry Advisory Board at Amity and as a Ph.D. guide at two National Law Schools. What drives your passion for academic engagement?

    The youth attract me a lot. Whenever I am with young minds, I feel a kind of vibrance which otherwise is missing in the drudgery of corporate life. Whenever I interact with them their pointed questions, their free-wheeling attitude and the fireside chat intrigues me. The kind of questions they pose at times challenge me to re-think about my own knowledge and practices. That gives the biggest kick which even the astronomical salary and posh perks of corporates cannot give. 

    That’s why I make it a point to always find time to spend with young minds, to interact with them, share my life experience, learn from their perspective, and enjoy the vibrant energy all around. 

    Beyond the legal realm, you’ve been awarded Forbes Top General Counsel, BW Business World Top 100 GC, and Atal Achievement Award. How do you balance the demands of a high-profile legal career with such accolades and recognition, and what do these honors mean to you personally?

    Well, I have to thank Forbes, Legal 500, Business Worlds and Atal Award (Govt. of India) who have now started to recognize the General Counsels for the work they have done. It was not long back that General Counsels were not recognized, and many did not consider them lawyers. These recognitions have changed the perception in the past decade or so and I am extremely thankful to them. 

    Therefore, these recognitions mean a lot and more than me personally it helps the younger people to opt for in-house roles which have different challenges than faced by a litigating lawyer or a transactional lawyer in a law-firm.

    As regards balancing the demand, I must say that is the most difficult thing to do. But I make it a point that I allocate some time for these too as it is not only for personal satisfaction, but these inspire my younger colleagues to do great. Whenever, I have received any award it has inspired the people who know me that they must also strive harder to achieve such awards and to do good quality work. 

    Your commitment to contributing to positive change is evident. In what ways do you believe legal professionals can actively contribute to making a positive impact on society and the business environment?

    Nowadays legal professionals play a major role in any corporate. Their attitude, their approach to work, their work ethics play a critical role in shaping up the society they live in. Especially in a democracy, the stronger the legal fraternity, the stronger would be the democracy. To establish a rule of law and who better to ensure that than the lawyers and legal professionals themselves. 

    Whenever, a legal professional handles a matter whether it be of environmental violation, bad business practice, corrupt or fraudulent act, tortious conduct etc. if the same is handled with full devotion and keeping in the mind the fundamental principles enshrined in our constitution and legal jurisprudence, it not only impacts the society or business but the culture and legacy. 

    A wrong decision by the Supreme Court can shake up the investor confidence and wipe up the entire investment, which a developing country like ours requires. The government needs to be kept informed about the impact of the policy and bureaucracy approach and this primarily becomes the responsibility of legal professionals who along with handling litigation, transactional contracts are also responsible for regulatory interface. 

    Every successful journey faces challenges. Can you share a specific challenge or struggle you encountered during your career and how you overcame it?

    That is absolutely true. There can be no journey without its fair share of peaks and troughs. Well let me begin with sharing the biggest challenge. After spending a fair time in the government or regulatory sector when I joined the corporate sector the biggest problem was that now as a legal head, I was required to give solutions. Unlike the previous avatar of regulator or academician I was required to only put the legal position but now the task was to find the right and legitimate ways of getting the business done. 

    The senior management would require the solutions to the given business problem and that required not merely to state what the law is but to devise solutions, sometimes out of the box to achieve the business objectives. The most important thing to be kept in mind was that the solutions still had to be within the four corners of the legal and regulatory framework. 

    This required a sea-change in approach. I must say the learning at IIMA came absolutely handy. The syndi-approach of IIMA where the students were divided into a syni of 5 or 6 and they had to brainstorm and come out with solutions helped me in developing a wider horizon. Like in my IIMA days I had to interact with people who had worked in NASA or had come from a political background and that helped me understand differing perspectives. 

    This helped me in quickly adapting to the needs of the corporate sector and slowly and gradually I started delivering. Like Cube Highways which is a Private Equity run platform, and the issues that I faced here are different from that of an Indian promoter company, however due to the ability to understand different perspectives and angles, I more often than not am in position to solve them. 

    Away from the legal complexities and academic commitments, how do you unwind and recharge? Do you have any personal hobbies or activities that provide a break from the demands of your professional life?

    Well, my hobby is to read fiction, especially good science fiction or thriller murder mystery. I have read all types of top sci-fi novels starting from The Foundation, Dune, Leviathan Wakes etc. My current favourite is Marissa Mayers’ Renegade. 

    So, to unwind, I spend time reading these good prose while sitting at the comfort of my home. Sometimes, I switch off my phones and spend an entire weekend just lying down on the bed reading my favourite fiction novels. When I am not reading novels, I love to play gully cricket with my friends. 

    Your work involves connecting with industry stalwarts and senior counsels. Outside of professional networking, what’s one piece of advice you would give to young legal professionals who aspire to build meaningful connections in the legal and business world?

    Well for all my younger colleagues and legal professionals I have two pieces of advice. Firstly, as you yourself has stated, they must attend at least two or three conferences in a year and try to make as many connects as possible. Secondly, publish regularly and remain connected. I have always said that in legal field one has to publish or perish. Whether it is writing a simple piece on LinkedIn post or an editorial in news paper or in any magazine or on law blogs or anywhere, one must keep on publishing one’s thoughts. This helps in keeping you updated and build a network with like minded people. This also showcase your understanding of issues and at times these are seen by the senior general counsels and who’s who of the industry. That can help you land at your dream job.  

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