Super Lawyer

Tag: Indian lawyers

  • For me, adherence to professional ethics coupled with honesty and integrity is of prime importance- Jaydeep Mehta, Advocate on Record and Designated Partner, LexStreet Advisors LLP, Advocates & Solicitors

    For me, adherence to professional ethics coupled with honesty and integrity is of prime importance- Jaydeep Mehta, Advocate on Record and Designated Partner, LexStreet Advisors LLP, Advocates & Solicitors

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

    Can you tell us about the journey that led you to pursue a career in law and establish LexStreet Advisors LLP?

    Let me start with a quote of Nasir Ali “The journey always goes, but it is not easy. It is always wrapped up with struggles and surprises” 

    My career in law was never a choice but a chance. When you do your work with good intentions with honesty & integrity, superpower plays its role. Profession of law has always been close to my heart. When I completed law graduation way back in 1989 from one of the prestigious law colleges, K.C.Law College, Mumbai,  I wanted to join practice right from day one but did not get motivation from my family and friends. Legal profession was always close to my heart. I was forced to take up a job in a private sector organization. But in my job also, I stick to the profession of law only. All throughout my career in private sector companies also, I worked in legal departments only and that is where I got opportunities to interact with various law firms and individual lawyers in Mumbai & Gujarat. During my job, 1st time way back in 1992, I got an opportunity to interact with a Senior Partner of Manilal Kher Ambalal & Co. (now MKA), a well-known law firm during the days when Harshad Mehta scam had just exposed and the Govt had then started a Special Court for tainted securities. I got an opportunity to coordinate with MKA in those days when I was employed with one of the companies of Kirloskar Group.

    After spending almost 20 years in various organizations, finally I straight away jumped into practice. Initially I started on my own and later in 2014, along with my old friends in the legal profession, we incorporated Lexstreet Advisors LLP on 5th November, 2014 and since then we have never looked back and our journey as a law firm started….

    LexStreet Advisors LLP is known for its integrity and value-based proactive services. Can you share some examples of how your firm has helped clients effectively navigate the complicated legal and regulatory landscape in the country?

    We stick to our policy and vision. We have never compromised with professional ethics, honesty & integrity. Irrespective of the size of clients, whether individual, partnership firms and corporate clients, we have dedicated the same time and resources with a proactive approach. The true value of proactive approaches does not lie in their predictive abilities. The true value lies in the disciplined process. Such approaches can examine the strengths and weaknesses in systems and services being rendered by a law firm. We listen to every client’s problem and their difficulties and understand in depth what they expect from us. The situations have arisen when we had to refuse one of our corporate clients as we were preoccupied with important assignments. This has certainly given a positive and powerful message to the corporate client. The corporate client had really appreciated our approach and next time, the same client had approached us with positive thoughts and we helped them and when they needed our assistance. 

    As a full-service law firm, LexStreet offers a wide range of legal services. Could you highlight some of the key areas of expertise and specialization within your team?

    If I have to highlight key areas, I must mention Securities law, Corporate & Commercial laws, Insolvency laws, Arbitration law, employment laws, DRT & Civil litigations as well as advisory services. Nowadays new generation law firms are not keen on civil litigation but I feel there is a big vacuum as far as civil litigation is concerned. I must also mention the non-litigation area as a practice as we have been advising the private sector as well as a couple of PSUs on legal issues. 

    Today’s  young lawyers are after M&A & PE practice but I personally feel that is not the end. Law is an ocean and it’s very crucial to select areas of practice.  At the end of the day clients must be happy and satisfied with the services.  

    LexStreet has a strong network of partners, lawyers, associates, and counsels with domain expertise. How does this network contribute to the firm’s ability to provide prompt and accurate advice to clients?

    All the partners of Lexstreet are highly experienced legal professionals having wide experience in their respective domain areas of practice ranging from 18 years to 34 years. Wide experience of every partner and associate partners have certainly contributed to the growth of the firm. We are also expanding our horizons as far areas of practice are concerned. With the introduction of new statutes by the government like Data Protection laws, Artificial intelligence, our law firm is committed to induct new talents. 

    As a designated partner and advocate-on-record with extensive experience, could you share some notable achievements or cases that you have worked on throughout your career?

    I, as an individual Partner and experienced law professional, realised that knowledge sharing is a very crucial factor. Since the last 6 years I have been regularly sharing articles on LinkedIn regularly and In-house Counsels, legal managers working in various organizations have been appreciating it. Today I have crossed close to 2700 followers / connections on LinkedIn, which is a testimony of my passion for knowledge. I have also been invited to various moot court competitions being organized by various law schools including HPNLU & Narsee Monjee. This has certainly helped to get connected with many In-house Counsels who, in turn, have been assigning briefs to our law firm.

    LexStreet places high importance on maintaining professional ethics, integrity, and moral values. How do these values translate into your day-to-day operations and interactions with clients?

    Well, let me say very honestly that today, the legal industry has turned into a big industry rather than a noble profession. However, doing business and revenue generation is one side of the profession and following professional ethics and moral values is another side of this noble profession. For me, adherence to professional ethics coupled with honesty and integrity is of prime importance, which in-turn have certainly helped us to retain our valuable clients which include large domestic as well as non-domestic companies. Business and ethics go hand in hand, if one does not follow them, they are finding it difficult to survive in today’s competitive market. 

    In the rapidly evolving legal landscape, what skills and qualities do you believe are crucial for young lawyers to develop in order to succeed in their careers?

    In today’s highly competitive market, the crucial factor is retaining existing clients and at the same time attracting new clients. I would advise young lawyers to remain very humble, diligent in his / her work is very important and more important is to maintain humility is a core value of this noble profession. For the first time, When I met one of our family friends, a retired High Court Judge for his guidance before starting my practice, he just told me, once you take up an assignment of any client, small or big, do it wholeheartedly, irrespective of any fee you get. I have kept these words in my mind.

    As a leader in the legal industry, what are some of the emerging trends or challenges that you see on the horizon, and how is LexStreet adapting to stay ahead?

    For law firms, the experience of navigating COVID-19 has accelerated the pace of change and will continue to significantly impact operations, organisational culture, and the way lawyers work. The trends that were underway before the pandemic struck to continue challenging and transforming the industry at an accelerated pace. These include client empowerment, technology adoption, law firm consolidations, new players entering the legal services sector, and value-based pricing. We are committed to adapt to the changing technology in the era of upcoming AI.

    For fresh graduates who are considering a career in law, what advice would you give them based on your own experiences and insights?Let me tell young lawyers that there is no short cut to success. Patience and perseverance will bring desired results. I would advise every young lawyer not to adopt any shortcuts to achieve success. They must be humble and respect this noble profession. Increasingly, customers expect lawyers  to demonstrate extreme trust — that is, to proactively watch out for their customer’s interests. My school batchmate, who is now a Judge in the apex court, always says that there is something like a rule of Law.

    Get in touch with Jaydeep Mehta-

  • For all such major steps undertaken by Indian Government to promote business in India, we need a strong legal framework in India for its successful implementation and contribution towards India’s economic growth- Tejveer Singh, Independent Legal Counsel

    For all such major steps undertaken by Indian Government to promote business in India, we need a strong legal framework in India for its successful implementation and contribution towards India’s economic growth- Tejveer Singh, Independent Legal Counsel

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

    Sir, in order to start this conversation, could you please tell us about your decision to pursue law and CA?

    I was always inclined toward general reading and contemplating on social and economic issues. I had an immense interest in reading books relating to law, commerce and business. I still recall debating with friends and families about the effective implementation of government policies and decisions and their impact on the businesses or lives of common people.

    During those days, it was not common to secure both degrees together. So initially,  I was slightly uncertain as to which course to pursue and then luckily I came to know about probably one of the most successful and knowledgeable lawyers, Mr. Harish Salve, who is a chartered accountant, but a practising lawyer. Inspired by his intellect and quick-witted representations, I decided to accomplish both academic qualifications. That’s how my professional journey as a practicing lawyer started.

    Can you tell us about your experience handling commercial disputes before the High Court and NCLT?  

    Handling commercial disputes before various forums is a tremendously enriching experience. When a commercial dispute is brought before us by a client, it gives us perspective on how a brilliant and successful businessman can get affected due to bureaucratic rigmarole or lack of awareness of implications of certain applicable laws. In such a critical situation, if we are able to take out knots and smoothen the already tricky road of doing business, are swift in decision making and providing various alternatives to clients suitable to him then it leads to immense satisfaction and value creation for businessman. Since the legal profession is a service, if you think of rendering services as rendering of services with ethics and integrity , then you will be able to devote yourself fully with strong conviction which can bring great satisfaction to your life and professional success.   

    How have you contributed to the evolution of transfer pricing laws in India, and what role have you played in the BEPS initiative?

    The world trade interse between the companies is growing a lot . Hence, various business transactions between the same entities of an umbrella company provide the opportunity to corporations to  manage transactions in such a manner that profits are shifted to lower tax countries. Transfer pricing provisions are introduced in the Income Tax Act’1961 in the year   2001 to deal with possibility of such abuse. I have more than 50 reported judgments in transfer pricing arena in my name over the years. So I have seen evolution of these provisions in India. Initially, when these were introduced in India, they were intentionally drafted in such  a manner that it would be easier to adapt in accordance with the prevailing business environment to achieve the objective behind such provisions. The government has been successful in doing so to a certain extent whereas, in its implementation process, the Government made certain mistakes but by and large, the concept or framework that each country shall get its fair share of taxes is gaining momentum and putting a curb on shifting profits to lower or nil tax countries. It is now accepted by all countries and across all the international trade bodies by way of OECD framework ensuring a more transparent tax environment.

    What has been your most challenging case to date, and how did you handle it?

    Well, in many cases we are required to sign nondisclosure agreements. Hence, I would not be able to answer this question in terms of client and case details. But what I can say is in the current legal environment won the biggest challenge that business houses are facing is dealing with regulators. The client is not looking forward to obtain any order from the court having Precedent value, but is more interested in resolving the issue so that he can execute his future business plan of action efficiently. Hence, as a lawyer, you can look at the issue from the perspective of solving a problem rather than trying to get into the nitty-gritty of law and taking the issue to the court. In that scenario, you would be a far more accomplished and dependable lawyer. In one of my most challenging cases, the solution we came out with was so simple which led to out of the court settlement by merely filing a letter with the regulator.

    Can you share your experience in facilitating foreign direct investments in various sectors?

    FDI transactions have different challenges for different sectors. For the manufacturing sector, the issues such as a laundry list of statutory compliances – both general as well as sector specific, deter an investor from taking a position in India. The ease of doing business initiative taken by GOI will go a long way in addressing such challenges. For the infrastructure sector, the main sticking point is an efficient dispute resolution mechanism so as to avoid projects getting stuck due to disputes. In the IT sector, a rejig in the corporate structures (including externalisation) so as to have tax optimisation is the biggest challenge. Rationalisation of capital gains tax – bringing it at par with the jurisdictions with whom India has tax treaties is the key to facilitate investment in IT sector especially investments chasing inorganic growth.

    As someone with expertise in information technology and entertainment, how do you see the legal landscape evolving in these industries?

    The rapid rise of technology and the internet has fundamentally changed the landscape of the entertainment sector. The legal sector faces a huge backlash when it comes to this since people are rapidly adapting to the new technologies being developed but it is not the case with law. Let alone there being law in place governing these developments such as Artificial Intelligence, blockchain technologies, presence of Metaverse, the legislature faces major criticism from its own citizens since they have not only repealed the existing data privacy laws, but also not put the new data protection bill into effect. The developments in information technology come with their own complex legal issues as well such as data breaches, breaches of privacy, cyber harassment etc. Artificial Intelligence which is being used at majority workplaces including law firms is not regulated by law. Thousands of cases have been filed at various levels of judicial courts involving matters relating to blockchain technologies, metaverse and artificial intelligence but matters keep getting adjourned or are not admitted in the initial stage citing lack of jurisdiction since there is no law basis which the judiciary can come to a decision.  The government created a havoc amongst the public by implementing a 30% tax on NFT’s without having a law in place which authorises the imposing of such tax.

    With regards to the entertainment sector, the legislature is prompt in taking action and giving immediate effect to certain guidelines and regulations that mandate and prohibit the advertisements and use of certain language, content etc. or to govern the digital creators, influencer and social media aspect of entertainment. However, there is still ambiguity with respect to entertainment in digital space as it subject to varied interpretation.

    The entertainment industry in India has witnessed growth in many folds and now the entire world has started recognizing Indian entertainment industry as well. The legal landscape has been progressing due to the expansion of digital platforms and various streaming platforms and models, which have evolved the traditional business models into extremely competitive business.

    The amendments in 2021 to the Cinematograph Act, which give the government power to regulate digital content and streaming services have raised issues in the entertainment industry. Also, copyright laws in India have also been developed to combat piracy and protect intellectual property rights.

    How do you balance your roles as a legal professional and a chartered accountant, and how does this dual qualification benefit your clients?

    I have been handling tax and commercial litigation since starting my legal professional journey where my CA qualification has helped in better understanding Taxes and business environment in which transactions are undertaken  . Additionally, the pragmatic and worldview of financial analysis across various sectors and in-depth knowledge has been possible due to my CA qualification which benefits me to a great extent in corporate and tax litigation. However, sometimes I need to specifically focus on the legal aspects involved in the case rather than going into a detailed analysis of financials from a CA prospective.

    Can you share your thoughts on the current state of the Indian economy and its impact on corporate and commercial law?

    India remains one of the fastest growing economies in the world in recent times. Reserve Bank of India (RBI) recent report reassured that the current will be a year for the Indian economy to strengthen its position on the global stage. The same is validated by the world bank’s report that global slowdown has much lower impact on India as compare to other emerging economies. 

    India challenged global trends in 2022 and successfully witness record M&A activity. Despite economic hurdles and disturbances due to geopolitical factors, Covid impact and a global consumption slowdown, the World Bank revised its 2022-23 GDP forecast for India to 6.9 percent from 6.5 percent (in October 2022).

    Further, the Indian government has been taking numerous steps to bring in foreign direct investments (FDIs) and brought commendable amendments to “Ease of Doing Business” in India to attract further foreign funding into India.

    For all such major steps undertaken by Indian Government to promote business in India, we need a strong legal framework in India for its successful implementation and contribution towards India’s economic growth. This leads to a positive impact on the requirement of more expertise in corporate law and commercial law supporting the corporates in establishing and growing their business.

    Coming towards the end of the conversation, what advice would you give to young professionals who aspire to have a career in corporate and commercial law?

    A legal professional is expected to be well versed with various applicable laws and regulations.  Gaining that knowledge and experience has no alternatives but a self-driven focus and discipline toward the thorough self-study of various applicable laws. A legal professional becomes apart from other professionals by virtue of their problem solving attitude and accepting new challenges every day.

    I would like to advise young professionals to capitalize the advantage of their internship and their senior’s experience and then decide on the preferred areas of practice. There is a saying that we do our best work if we do a job that makes us happy. The legal profession is that profession which has such an extensive scope in the current scenario that gives tremendous options to make a career in corporate and commercial law and lead a very satisfying and successful life and also do good by service to others .

    Get in touch with Tejveer Singh-

  • What does it take to become a partner? Sahil Narang, Partner at Khaitan & Co and AOR, Supreme Court shares his 8-year-long journey at Khaitan: from junior associate to a distinguished Partner.

    What does it take to become a partner? Sahil Narang, Partner at Khaitan & Co and AOR, Supreme Court shares his 8-year-long journey at Khaitan: from junior associate to a distinguished Partner.

    This interview has been published by Sonali Parashar and the SuperLawyer Team

    Let us begin with the most important question, did you always dream of becoming a lawyer or, did it happen by chance? Also, tell us about your journey.

    Before coming to what led me to become a lawyer- a little bit about me. I hail from Abohar, a small town, about 30 km from the India-Pakistan border, in the State of Punjab. My grandfather was a local politician and social worker, and my father was a lawyer practising at the city civil courts, Abohar who, quite often, also used to attend and appear before the District Courts at Ferozepur (later at Fazilka, a border town). So, I was exposed to the field of law at a very young age. 

    Since I grew up looking at my father, working diligently as a lawyer and collecting hundreds of books for his library every year, the curiosity towards law was imbibed in me by default. However, I had a huge interest in the field of science during my school days and wanted to become either a doctor or an engineer given the trend prevalent at that time.  I went on to study science in the 11th and 12th standard and gave competitive exams such as the IIT, AIEEE, etc. to get admission into engineering courses back then. I had an option to continue that pursuit and become an engineer, however, the innate affinity towards law imbibed within me from childhood, looking at the meticulous way my father used to practise law, pushed me to pursue the study of law. Therefore, rather than getting admission in some renowned engineering college, I enrolled in the B.A.(Hons.) program at DAV College, Chandigarh affiliated to the Panjab University, Chandigarh. I passed BA with a distinction in Political Science in 2005, post which I got selected in the three-year law course at one of the oldest institutions in the region, the Department of Laws, Chandigarh, my father’s alma mater.

    Since I was inclined to continue the study of law and give competitive examinations including the judicial services exam, I got admitted to the LL.M course at NALSAR University of Law, Hyderabad through CLAT. I was actively involved in research, pro bono work and co-curricular activities at the university during the LL.M course. 

    During my days at NALSAR, I was introduced to various opportunities in the field of law. I also got an opportunity to attend the Private International Law Course at the Hague Academy of International Law at, the Hague, the Netherlands in 2009. Eventually, I joined Khaitan & Co. and a decade later – here we are. 

    The present focus is on advising on regulatory issues, commercial litigation, and the representation of various clients from the entertainment and multiplex industry across India. If we draw a comparison between the global and Indian entertainment and multiplex industries, were you able to predict these advancements in the legal arena?  

    The advancement in the legal arena surrounding a sector depends upon the growth of that sector. I have been blessed to get exposure to and advise and represent clients in various sectors including in the entertainment and multiplex industry during my career. The Indian entertainment and multiplex industry caters to a very different demographic as compared to the western world. Although we receive some guidance from other countries when it comes to legal issues surrounding this sector. While there is a significant amount of autonomy and minimal regulation in western countries in the sphere of entertainment and cinemas, jurisprudence is still evolving in India. We still see heavy regulation by the government in these spheres and archaic laws which are dealing with these fields. The Indian cinema industry is faced with archaic laws which need to be updated given the fast-paced development in this area. The liberalisation of Indian cinemas and the recent shift to OTT has been a game-changer on how people consume entertainment in today’s world. The recent years have witnessed a massive influx of OTT giants such as Netflix and Amazon foraying into the Indian market. This has led to an increased reliance on Indian lawyers to assist them to find their way into the Indian space and steer clear from legal repercussions. The real challenge is for the regulation to catch up with the development of this sector.    

    You were named as one of the lawyers for Legal Era’s 40 under 40 list in the field of law for the year 2020, and you also served as the Co-Chair of Competition Law & Consumer Affairs Committee of PHDCCI for Presidential Year 2021-22. Congratulations on adding another feather to your cap. What is your next goal? Is there anything you’d like to tell us about?

    I had started with Khaitan & Co as an intern in the year 2009, got a PPO and became a Partner with the Dispute Resolution practice group, New Delhi in the year 2018. I have learnt a lot during this time. Currently, I lead a team of lawyers working on the dispute resolution side with a primary focus on commercial litigation and arbitration. The year 2020 was a very challenging year given the outbreak of the COVID-19 pandemic. It brought the best out of many of us. I was very lucky to have worked on a variety of matters despite the disruption in the legal sector because of the pandemic. It was because of the wide variety of work and the client’s recommendations that helped me get recognised in recent years. 

    However, I wish to be mindful that it’s a sea out there and there is still more to be achieved. I would want to expand my commercial litigation and arbitration practice, both domestic and international, and engage more in highly complex and challenging disputes. 

    Besides this, I would also like to contribute to the development of jurisprudence in various nuances of laws including beneficial legislations made for ease of trade and commerce.

    Having received so much from the legal fraternity, I would like to take out time to render legal advice to individuals and organisations that are unable to afford legal advice and/or cannot access legal aid. Various organisations are doing good work in this sphere. However, it is particularly overwhelming to see young law students very effectively running legal aid clinics in their colleges and effectively using social media to educate people and spread legal awareness. It would be a privilege to be associated with such benevolent activities.  

    At this juncture of my career, I would want to engage with law students and young lawyers to share the experiences and learnings, which I have received in my career to date. In fact, in furtherance of this endeavour, I have been actively participating in such webinars and would certainly like to keep that going. 

    I would conclude with a famous quote – ‘Big tasks are still out there and a lot of hard work yet to be done.

    You are involved in research and have authored some extensive research on a variety of topics. How has research work helped you stay updated with the academics as well as policy and legislative changes that we see occur from time to time?

    I think the most important tool in a lawyer’s toolbox is his / her ability to research, read and write. During my time at NALSAR University of Law, while pursuing the masters’ course, I realised that one of the best things one could invest in is books, be it academic or otherwise. This habit of reading will inculcate a life-long habit of curiosity and research.  

    This helped me immensely during my preparation for the coveted Advocate-on-record exam of the Supreme Court of India. Getting admitted is a major achievement as very few lawyers qualify in this annually held examination conducted by the Supreme Court of India.

    In addition, knowing and being abreast of the current position of law gives one confidence in dealing with and correctly advising a client.  

    Further, research methodologies would generally include comparatives analysis of legislation across jurisdictions and critique of legislation and policy prevalent in various jurisdictions. This would in turn give one perspective of laws of developed countries and what legislative changes our country may see. 

    Mr. Sahil Narang, Partner at Khaitan & Co.

    Can you give our readers a brief idea of what they need to prepare for if they want to climb the corporate ladder based on your experience representing international commercial arbitration in a variety of matters?

    There is no shortcut to hard work, perseverance, and commitment. I would add that in the initial years, a young lawyer must remain open to all kinds of work whether he/she chooses to join a law firm, a senior counsel or a chamber practice for his/her training. At a later stage, one may discover their interest in a particular field of law.  

    Further, for one to excel and climb the corporate ladder, it is important to be client-centric, innovative, detail-oriented, and prolific. These virtues will not only make one solution-oriented but also will give them an edge over other contemporaries.

    In the field of arbitration, it is important to refer to commentaries of various celebrated authors on arbitration and keep abreast of recent judgments by the courts.  

    What was the one learning experience throughout your entire career that you’d credit to have shaped your career and brought you to this point?

    My family, I would say has been my greatest motivator, and has shaped my career. Seeing my father practising law at the city civil courts, Abohar, working hard, day in and day out, motivated me at a very young age to work hard and excel in academics. Further, having roots in a very small town has made me grounded but at the same time meaningfully ambitious.

    Can you take us through a typical day in your life? Is it possible to carve out time for your other interests or hobbies given your hectic schedule as a renowned Partner at Khaitan & Co?

    In pre-covid times, most parts of my day were spent either in courts or in office. Substantial time used to be spent commuting from court to office or conferences and venues for arbitration. Travelling used to take a fair share of my time, however, with most courts and tribunals going virtual, I could save a lot of time. Consequently, efficiency increased. During covid times, my day is usually spent on reviewing drafts, attending conference calls with my colleagues in the team, clients, and senior counsel. I also make it a point to read the latest case laws of the Supreme Court and other courts on dispute resolution and arbitration. Even in my hectic schedule, I make it a point to take out time for my family. I love to read books on weekends. My favourite pastime since my college days has been to watch movies in multiplexes and the latest series on OTT platforms. I have recently picked up badminton as a sport and would also like to learn to play the piano soon.  

    What career advice do you have for our readers? In my opinion, to be successful in the field of law one must inculcate a habit of reading at a young age. One thing that has helped me in being thorough in my work is that I read every document in full, irrespective of any preconceived notions. I would advise law students to read, read and read everything you can get your hands on. To put this in perspective, my favourite quote is by Walt Disney- “There is more treasure in books than in all the pirate’s loot on Treasure Island.”

    GET IN TOUCH WITH SAHIL NARANG: