Super Lawyer

Tag: Legal strategies

  • “Coordinating with external counsel, ensuring timely communication, and maintaining consistency in legal strategies are crucial aspects that require careful attention”- Saswata Banerjee, Chief Manager Legal and Compliance at Bajaj Allianz Life Insurance Co. Ltd.

    “Coordinating with external counsel, ensuring timely communication, and maintaining consistency in legal strategies are crucial aspects that require careful attention”- Saswata Banerjee, Chief Manager Legal and Compliance at Bajaj Allianz Life Insurance Co. Ltd.

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

    Can you share more about the pivotal moment when you decided to shift from your initial aspirations in Economics towards pursuing a career in law? What influenced this decision the most?

    Being a first generation lawyer from my family I had no idea about the field of law. So back in 2004 after my plus 2 exam completion during the break time I came across a friend who was  appearing for law entrance exam for Calcutta University and NUJS as at that time there was no CLAT. While talking with him on a regular basis I got a glimpse of the legal world and got really interested in the field of law and was intrigued by the court proceedings. I decided to appear for the entrance exam with a short preparation and got selected. By God’s will started the journey into the field of law. Also my family members immensely supported me in this decision.

    Your journey into law began with appearing for the law entrance exam at the insistence of a friend. How did you feel when you were selected, and how did that moment shape your perspective on your future career?

    When I got selected I was elated that I was getting a chance to be a lawyer. It really shaped my career as well as my family life also as I met my wife in law college who was a very good friend at  that time. Though my college was not a National University but the faculty members were good and really passionate in teaching, I am always grateful to them for their guidance. 

    Interning under the guidance of Mr. Sajal Kanti Biswas seems to have been a transformative experience for you. Could you elaborate on how his mentorship influenced your understanding of the legal profession and shaped your career trajectory?

    Firstly, Mr. Biswas provided me with invaluable hands-on experience by allowing me to directly involve myself in live cases. This exposure to real-world legal scenarios, including discussions with clients, preparation of pleadings, and strategizing for upcoming cases, was instrumental in enhancing my interest and deepening my understanding of various legal principles and procedures. Being immersed in the practical aspects of the legal profession under his mentorship helped me bridge the gap between theoretical knowledge gained in law school and its practical application in the field.He taught me to value every task in law, stressing that no work is small. . 

    Specializing in the BFSI sector after completing your law degree is quite intriguing. What motivated this decision, and how did your experience at the B School of Insurance and Risk Management in Hyderabad contribute to your professional growth?

    Specializing in the BFSI (Banking, Financial Services, and Insurance) sector started  from my observations while practicing law after completing my BALLB degree. Initially, as a newcomer to the legal profession, I found the complexities of financial matters daunting. However, exposure to numerous banking and insurance cases in court intrigued me, sparking an interest in the field. Recognizing the need for specialization, I considered pursuing an LLM. During my research, I discovered a joint course offered by NALSAR and IIRM specifically tailored for lawyers seeking to specialize in finance and capital markets. Although I missed the deadline for this program, my eagerness to pursue further studies led me to explore other options. This quest led me to the B School of Insurance and Risk Management (IIRM) in Hyderabad, where I found specialized courses in Risk Management. Despite not initially planning for this specialization, I applied for the program and was selected after successfully completing the entrance test.

    At IIRM, I gained valuable knowledge and skills in risk management within the BFSI sector. Interacting with industry experts and peers broadened my perspective. Overall, my time at IIRM complimented my legal background and prepared me for a successful career in the BFSI sector.

    Joining ICICI Lombard GIC Ltd. marked the beginning of your corporate legal career. Can you walk us through the challenges you faced initially and how you managed to adapt to your role within the corporate legal team?

    Joining ICICI Lombard GIC Ltd. marked a significant shift in my career as I transitioned into the corporate legal field. Initially, I encountered several challenges as a fresher in this new environment. Each day presented a new learning opportunity, and I had to adapt quickly to the workings of a corporate legal team.

    One of the major challenges I faced was understanding the dynamics of corporate operations and the intricacies of corporate law. However, my reporting managers provided unwavering support, guiding me through various tasks such as drafting notices, agreements, and participating in complex contract negotiations. Their mentorship was invaluable in helping me navigate the complexities of corporate legal work.

    Additionally, my role required frequent interactions with external lawyers for advisory purposes. These interactions exposed me to a wide range of legal concepts and furthered my understanding of corporate law. 

    Despite initially feeling overwhelmed, I persevered and focused on honing my skills. With dedication and continuous learning, I gained confidence and successfully closed numerous contracts. This experience taught me resilience, adaptability, and the importance of continuous growth in corporate law. My time at ICICI Lombard GIC Ltd. laid a solid foundation for my corporate legal career.

    Transitioning from litigation practice to corporate litigation presented its own set of challenges. What were some of the most significant hurdles you encountered during this transition, and how did you overcome them?

    Transitioning from litigation practice to corporate litigation management presented several significant challenges. One of the most notable hurdles was adapting to the different approach required in corporate litigation, which involves more strategic planning and coordination with practicing lawyers for execution.

    Initially, I had to familiarize myself with the nuances of corporate litigation management, which differed considerably from my previous experience in court. This required me to understand the broader strategic objectives of the company and align them with the legal strategies employed in litigation matters.

    Additionally, collaborating effectively with practicing lawyers across various courts and jurisdictions was essential but posed its own challenges. Coordinating with external counsel, ensuring timely communication, and maintaining consistency in legal strategies were crucial aspects that required careful attention. I prioritized building strong relationships with external counsel and maintained open communication channels. By embracing a learning mindset and adapting proactively, I effectively managed litigation matters.

    Your experience at Star India Pvt Ltd. provided insights into media laws. How did this experience differ from your previous roles, and what were the key takeaways for you in terms of navigating legal challenges in the media industry?

    Transitioning to Star India Pvt Ltd. from my previous roles in the BFSI sector presented a unique set of challenges and learning opportunities. While my specialization provided me with a solid understanding of legal intricacies in finance, entering the media industry required a fresh perspective.

    The key difference lay in understanding the nuances of the media business so Before diving into the legal intricacies of the media industry at Star India Pvt Ltd., I prioritized understanding the company’s business. Interacting with business leaders helped me understand the intricacies of the industry, enabling me to approach legal challenges with a comprehensive understanding of the business context.

    Although the media industry differed from my previous experience, the foundational skills and adaptability acquired in my previous roles proved really helpful. Leveraging my understanding of business dynamics, I navigated legal challenges more effectively and aligned legal strategies with overarching business objectives.

    One of the key takeaways from my experience at Star India Pvt Ltd. was the importance of continuous learning and adaptability in a dynamic industry. The media sector is constantly evolving, and staying abreast of legal developments and industry trends is very essential for legal work.

    Overall, my tenure at Star India Pvt Ltd. provided me with insights into media laws and reinforced the significance of understanding the business context in addressing legal challenges effectively. 

    How do you approach overseeing legal objectives for such a large area, and what strategies do you employ to ensure success?

    I started by understanding the work in that area, including the businesses and operations. Thereafter, I worked closely with my seniors to set clear legal goals that fit with the company’s overall plans. Good communication within the team members and with other departments is the key for everyone to work together smoothly. 

    We also keep an eye out for any legal risks and try to mitigate them before they become big problems. I talk regularly with other departments of the company further to understand their legal needs and help out where I can. 

    One notable aspect of this organization is the open communication fostered by our superiors. They encourage us to take risks and they also actively seek to understand ground-level issues through effective communication. Additionally, we are consistently striving to enhance our legal strategies and processes to adapt to evolving legal and business landscapes.

    Based on your extensive experience in the legal field, what advice would you offer to fresh graduates who are considering a career in law?

    The legal field offers numerous opportunities and is constantly evolving. Whether in litigation or corporate law, there are vast prospects for fresh graduates. As our country’s GDP grows, the demand for legal professionals will increase, providing ample opportunities for lawyers. 

    However, continuous learning and staying updated with the latest developments in the sector are essential for growth in this field. Many legal websites and resources are nowadays which are invaluable resources for students in this regard. Additionally, while the initial stages of a legal career may seem daunting compared to other professions, the rewards throughout one’s life are significant.

    Get in touch with Saswata Banerjee-

      

  • “Early exposure to courtroom dynamics sharpens your analytical prowess and pragmatism, equipping you to navigate complex legal scenarios with confidence.” – Manik Sood, Senior Vice President, Legal at Zee

    “Early exposure to courtroom dynamics sharpens your analytical prowess and pragmatism, equipping you to navigate complex legal scenarios with confidence.” – Manik Sood, Senior Vice President, Legal at Zee

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

    Reflecting on your journey from college, could you share the story of why you chose to pursue law as a career? Were there specific experiences or influences that led you down this path, and how has that decision shaped your professional trajectory over the years?

    Growing up, as a student, I was always inclined to study business and that is evident from my qualifications as well. I hold an Honours in Bachelor of Commerce from Delhi University and then pursued my Masters in Business from Australia. However, law was always on the cards for me as I come from a family of lawyers. One particular instance I do recall that may have prompted me further towards this career was my interaction during my MBA with a fellow student (Tony, who also was a lawyer). We had numerous discussions on various issues that he dealt with as a lawyer and why he felt the need to study business to enhance his career as a corporate lawyer. I recall my interactions with him as a tipping point in developing further interest in this profession.

    In your role at Zee, you must have been involved in significant transactions with major partners. What negotiation strategies or skills have you found most effective in dealing with such high-stakes deals? 

    A thumb rule to any practice in law is to assess the situation before you with an analytical mindset. You need to understand the situation you are faced with, how it impacts you from an operational standpoint and what you can do to safeguard your interest. Even while negotiating and finalising contracts these principles form the foundation that acts as a guiding factor in my decision making. I place heavy reliance on certain clauses like Scope, Indemnification, Limitation of Liability, IPR, Obligations and Reps and Warranties and ensure that my organisation’s interest is best covered while negotiating any transactions.   

    Your experience includes handling legal affairs in the FMCG and E-commerce sectors. How do you navigate the evolving landscape of technology laws, especially in the context of data protection and intellectual property, to ensure legal compliance?

    We live in an era of evolving technology and that plays a pivotal role in any business these days. I have been fortunate to have worked in different industries which are at the forefront of technology like e-commerce, Fintech and Media and Entertainment. The key to navigating compliance for any organisation is to continuously be involved in stakeholder consultation. You need to be able to work with different stakeholders from across functions and be able to understand the nuances that surrounds your business. Data in the present times is considered to be the most expensive and valuable commodity for any business and therefore ensuring compliance vis-a-vis protection and privacy of customer data is crucial for any big business these days. With new enactments like the DPDP Bill on the horizon, non-adherence to these compliances can result in big financial losses to an organisation which can be avoided if there are compliant and audited systems in place.   

    You pursued an MBA from La Trobe University in Melbourne, Australia. Could you share what motivated your decision to pursue an MBA and what factors influenced your choice to do it abroad? How has your business education enhanced your legal career?

    I have always been a keen business student and wanted to pursue my education by doing what I was passionate about. After my graduation, I decided to pursue my post-graduation from outside India as that would give me the opportunity and exposure that a young student like me required in the early years of my life. Besides, it gave me a good understanding of different cultures and a chance to make a global network. My education has helped me imbibe my learnings into my legal practice. Being a corporate lawyer, I have a good understanding of business operations and as a result, I can integrate the legal framework keeping business needs in mind.    

    As someone actively involved in the Mediation & Conciliation Network and Federation of Integrated Conflict Management, how do you see alternative dispute resolution methods shaping the future of legal practice? 

    Alternate Dispute Resolution is cost-effective as it saves the high expense of litigations incurred by litigators and is a faster medium of effective disposal of intense disputes. With an overburdened judicial system, Alternate Dispute Resolution like mediation and conciliation is the future of effective disposal of disputes and provides a great platform for an amicable settlement between the parties. ADR will play a very crucial role in the coming times in India.      

    You’ve been recognized for your achievements, including being awarded the Most Valuable Legal Associate at Sood & Singh Associates. Can you share a bit about a project or accomplishment that you are particularly proud of in your career?

    Many instances have challenged me in my career, one such instance is during the Covid-19 time in 2020. I was faced with an issue where the business team was keen on implementing a model under our e-commerce business where we could leverage transactions as a SAAS platform. By the time the information about the business model came to my desk, there were already substantial efforts and costs made in terms of operationalising the same. I was faced with a unique challenge to intervene in the structure of the envisaged model. Without getting into the intricacies of what transpired, I had to hold my ground and opine my business team on the challenges that it may attract from a compliance standpoint and the risk and exposure that may be faced by the organisation if we do not change the current structure. As a result, we took external opinion and external counsel endorsed my view which resulted in changing the entire structure of implementing this model. I got beef from my internal stakeholders initially, however, when they realised that my observations were well accounted for, this resulted in appreciation at a management level.

    You made a transition from working in law firms such as Kochhar & Co. to taking leadership roles in organizations like Zee Entertainment and Paytm. What motivated or inspired you to make the shift from private practice to the corporate sector, and how has this transition impacted your approach to legal challenges?

    I was always intrigued by the corporate practice and after having worked for almost a decade in litigation and law firms, I got an opportunity to head the legal vertical for a startup. What attracted me towards this role was the fact that the management of the company wanted a candidate who could help set up the entire legal vertical right from scratch and I took that up as an opportunity to utilise my expertise of over a decade and implement my learnings from my business qualification into practice. Another motivational thing about corporate practice is of being able to take ownership right from the point of giving your legal opinion to implementing it at ground level with desired results, unlike in the case of being a consultant where your role ends at giving that opinion. Being a very result-driven professional, this facet always intrigued me and may have been the guiding reason why I moved practices to corporate so as to have enough exposure on that front as well as a professional. 

    Having pursued your Masters in Business Administration in Australia, how would you describe the differences, if any, between the education systems of Australia and India? How has this cross-cultural educational experience influenced your approach to legal practice in the corporate sector?

    While major part of my education has been in India, I was able to complement the theoretical knowledge gained during these founding years in India with the practical knowledge that I gained while pursuing my higher education in Australia. This practical knowledge has played a very crucial role in giving me a competitive edge in my career. This to my mind is a big differentiator between the education systems of the two countries. An example to validate the same is that during my post-graduation, one subject which I undertook was completely based on a video game called “Age of Empire”. The entire game served as a learning ground. The professor compared the challenges faced in the game to the challenges that one faces in real life. As a student, you tend to remember and co-relate to such situations better and this leaves a strong impact on your mind. The same approach serves as a guiding principles in my legal practice today where I can relate to different situations and be able to suggest possible legal steps in overcoming the hurdles without impacting business operations at large.     

    Outside of your demanding legal career, what activities or hobbies do you love to engage in to unwind and recharge? How do these non-legal pursuits contribute to maintaining a balance in your life?

    Work-life balance is most important to me. I like spending time with my family as we need to remember that we work hard only to provide a better quality of life for our family members. So all work no play does not work for me. Besides that, I love listening to music, dedicating some time to my health by doing my daily runs and meeting old friends at every given possibility as they help keep me grounded and keep the momentum of life going.

    What advice would you give to the current generation aspiring to build a career in law, considering the evolving nature of the legal profession and the increasing intersection with technology?

    Get out and never hesitate to challenge yourself. Be open to exploring different legal opportunities and don’t feel settled for what you know best. We live in the day and age of technology and it only makes sense as a legal professional that you embrace technology with both hands.   

    What advice would you give to students who are aspiring to join the legal profession, particularly regarding the decision between working in law firms and opting for a corporate legal role?

    Are there specific factors or considerations they should keep in mind when making this career-defining choice? Since I was a thoroughbred litigation counsel before I moved on to the corporate practice, my advice to aspiring legal professionals is to test your mettle in the courtrooms early on in your career. It harnesses you in thinking analytically and pragmatically about situations you are faced with. Besides it gives you an edge to have an extempo mindset which is crucial for any legal practice – be it with the law firm or as an in-house counsel.

    Get in touch with Manik Sood-