Can you share with us your journey in the legal field, from your early career as an Associate at Amarchand & Mangaldas to yourcurrent role as a Partner at Luthra and Luthra Law Offices India ? How did your experiences shape your path in law?
My early career as an Associate was full of ups and downs, but one thing that stands out in my journey was that I was not scared of experimenting. I felt that if I don’t give something a chance, I would always regret it later thinking about it. It was indeed a mix of good luck and reward of hard work in academics that landed me my first job at Amarchand & Mangaldas, which was a dream job for most law students back then. I would be honest, it was kind of difficult to work as a fresher in Amarchand & Mangaldas since one had to rub shoulders with stalwarts of the profession but I would say it was a good start to my career since, out of my experiences with the firm, I learnt how a top lawyer goes about working on an assignment and is something I still follow. As a fresher I had the good fortune of getting exposure to multiple practice areas namely: banking and finance, general corporate and capital markets, however, I always wondered what it would be like to do litigation, argue in courts, and running an independent practice. My interest in Constitutional law, Civil Procedure Code was the catalyst which further drove me towards trying out litigation after a couple of years at Amarchand & Mangaldas and after a break of few months. Life as a litigant however, didn’t turn out to be as easy, I persisted through it for over a couple of years and only after being sure of being better at being a corporate lawyer than a litigant, I walked my way back into law firms. Since then I have been practicing banking and finance, and insolvency on a consistent basis and must add that have reaped rewards for this consistency in the form of career growth in these practice areas.
You’ve been extensively involved in advising various stakeholders on corporate insolvency resolution processes. Could you tell us about a particularly challenging or interesting case you worked on, and how you navigated the complexities of restructuring and insolvency?
I had the privilege of advising the Resolution Professional of the first dirty dozen matter (from the RBI list) which went into insolvency in July 2017- Jyoti Structures Limited (JSL). I was seconded on-site with the team of the Resolution Professional and cherish my wholistic yet very challenging experience with the team. The Insolvency and Bankruptcy Code, 2016 (IB Code) was a very new law back then and was in very early phase of evolution with many rules/ regulations to be framed/ notified and with lack of judicial precedents for guidance. JSL had a huge debt size and very complex issues of law arose throughout in the assignment, which mostly had to be answered on spot or in a very quick turn-around time, and at times without the guidance of any codified law, merely based on experience of past mechanisms/ legal practices that existed in India before the enactment of the IB Code. On some issues, we used to also apply/ take guidance from insolvency precedents of foreign countries. Working on JSL was one of the most challenging phase of my professional life, as the lawyer within me had push to my limits of legal logic and read up a lot of stuff for answering queries related to an new/ evolving law.
Your experience encompasses a wide range of legal areas, from banking and finance to dispute resolution. How have you managed to develop expertise across such diverse domains, and how do these areas complement each other in your practice?
I have always believed in specialisation in what one does, but at the same time as one gets senior in the profession, he/ she should have an idea about some of the ancillary practice areas as well. I started of as a banking and finance practitioner and later when the IB Code was enacted, I started practicing insolvency laws as well. I do contentious matters or disputes only to the extent it related to banking and finance/ insolvency laws. For a fully rounded practice of banking and insolvency laws, one should ideally also know about the disputes side of the practice of these laws. And this is how my experience has got spread across a few practice areas.
The legal landscape is constantly evolving, especially in areas like fintech and insolvency. How do you stay up-to-date with the latest developments in these fields, and how do you anticipate future legal challenges in the banking and finance sector?
I read a lot of online news/magazines and updates and have notifications activated for these on my phone. That’s the most common way of keeping oneself updated with changes in law and new case laws that come up. I do also read one of the pink newspapers on daily basis which really helps in knowing upcoming business treads of your practice area and at times also gives clues on which upcoming assignments to pitch for before clients. Keeping abreast with the regulatory changes that IBBI and RBI come up with and the monetary policy announcements of RBI help me in understanding/ anticipating the future legal challenges of the sector. And at times just general chat with bankers/ market participants also gives a hint about what tricky queries or situations will be thrown at you to find legal answers.
You’ve advised on overseas direct investments and foreign exchange compliances. How do you see the global business environment shaping up for Indian conglomerates, and what are some key legal considerations they should keep in mind?
The business landscape as far as overseas direct investments from India are concerned, is very interesting, because it essentially involves Indian companies globalising/ setting their foot in foreign countries and also Indians investing/ routing money outside India. With Indian economy doing well, the ODI trends also pick up and which also means a lot of foreign exchange flows out of India. The RBI through authorised dealer banks keeps a keen watch on these ODI transactions, the compliances and reporting associated with these. The most important legal consideration is formulation of transactional structure in such a way that it avoids round tripping concerns and also to advise the clients correctly about approval requirements from RBI/ authorised dealer banks in absence of which the clients may face a lot of issues including penalty from RBI.
Your role has included advising clients on structuring for short-term money market investments and project financing. Could you share a success story where your legal counsel led to a significant positive outcome for your clients?
During the pandemic period in 2020, I had the privilege of advising SBICaps Trustee in respect of structuring and operationalising the employee credit line guarantee scheme (ECLGS) launched by the Government of India for the benefit of NBFCs and MSMEs. The NBFCs in India were facing short term credit crunch which was in turn affecting the MSME sector. The scheme was for credit line of INR 30,000 crores and the funds were made available by RBI and guaranteed by Government of India. The scheme was a success and was further extended and continued with next versions in the subsequent months and years. The documentation for this transaction was one of its kind and the transaction structure had be harmonised with the requirements of the scheme. Funding to NBFCs was ensured by subscribing to short term money market instruments issued by them. It was one of its kind transaction that I have worked on in my entire career.
You pursued various diploma and certificate courses alongside your academic and professional journey. How have these additional qualifications influenced your career growth, and would you recommend similar supplementary education to aspiring legal professionals?
Yes, these diplomas not only help in building CV but also help in deep diving into a particular subject of law which is either not taught or not taught in enough detail at law school. It could also be out of specialisation interest that a student can take up these diploma/ certificate courses. These also help in utilising extra time constructively during one’s law school days. I would definitely recommend doing diplomas and certificate courses to students but they should be smart in choosing which ones to do as some of these courses could also be very expensive.
From your time as a student at Symbiosis Law School to your current role, how has your perspective on the legal profession evolved, and what lessons have you learned along the way that you’d like to share with our audience?
I come from a non-legal background so, as a college student in initial years, I used to think that legal profession is like any other profession. However, my journey so far as taught me that legal profession is much intense than most other professions. All of us learn new things everyday and in that sense are students for life, which also means that the profession demands a lot of hard work/ motivation to keep learning and therefore, in that sense, it is a difficult profession, but also extremely intellectually satisfying and enriching at the end of the day.
As someone with a wealth of experience in India’s legal landscape, what advice would you give to fresh law graduates who are about to embark on their legal careers, especially those interested in areas like banking, finance, and insolvency?
It’s important to pursue practice areas which one likes, and the earlier this is figured, the better it is for a law student or a law firm associate. In the initial years, an associate should do rotation/ secondments with the teams/ practice groups that they have interest in and then figure out which one(s) would they like to persist with. Students should do as many internships as possible and try out different practice areas, and if they are able to place their interest early enough, it could really help them in planning their careers better. For fresh associates who take up banking, finance or insolvency as a practice area, it is important for them to try and learn basics and keep abreast with all the legal developments. It is also important for a fresh associate to understand ‘why’ behind everything and for doing that they should not shy away from reading a lot of books/ cases/ articles etc. to start with.
Sir, please share with us how you initially became interested in the field of law and what led you to pursue it as a career?
I became interested in the field of law because of my father. He is a litigation lawyer on the civil side. In his prime, he was one of the leading lawyers in the city (Jalandhar, Punjab). When I was young, I was always in awe of his legal practice. I grew up in an environment where his office and our residence would be bustling with clients, lawyers, clerks and stenographers. I liked the busy life of a litigation lawyer where clients from all backgrounds with diverse problems came to explore solutions to their problems.
I realized that the core of the legal profession is problem solving and I started getting interested in the field of law, with the higher objective of contributing to the justice delivery system. Now after being a part of this system for more than 10 years, I can easily say that law is an empowering profession that has the ability to bring actual change in people’s lives.
Could you tell us about your educational background and the significance of your LL.M. in Competition Law and Market Regulation from the National Law University, Delhi?
I did B.A.LL.B (Hons.) from Panjab University, Chandigarh. Thereafter I proceeded to join my father in his litigation practice and learnt how to apply and practice law from the ground level. This phase in my life was the building block of my journey as a lawyer. I represented clients in all kinds of civil disputes that included possession disputes, matrimonial disputes, eviction matters, injunction suits, testamentary and succession disputes etc. For a period of three years I was also empanelled by the District Legal Services Authority which allowed me to represent the unrepresented in criminal trials. I was fortunate to get an opportunity to appear in criminal matters ranging from petty theft offences to murder trials.
However, after practising for 5 years, I wanted to move from private party litigation before District Courts to litigation that would be significant at the national level. In 2015, National Law University, Delhi came up with a new LL.M. specialization in Competition Law and Market Regulation, in addition to its usual LL.M. in Public Law. I thought specialization in a new and upcoming stream of law, even though the Competition Act was enforced in 2009, would allow me to garner new skills and help me in my endeavour to contribute to the legal system at the national level.
My LL.M in Competition Law and Market Regulation was interesting and fulfilling academically. Throughout my studies I realised the prime importance of my tenure as a litigating lawyer, for it was that experience which enabled me to understand competition law in application and not just theoretically. I also realized the difference in the attitude of institutions and students between State Universities like Panjab University and NLUs (at least the one I attended). In Panjab University the institution and students were primarily focussed on making a career in the judiciary or other government services. I must add that I too appeared for judicial exams in Delhi but could never go beyond the mains stage. Moreover, in Panjab University the focus was only on traditional subjects and new laws like Competition law, Insolvency and Bankruptcy etc were hardly included in the curriculum. At NLU Delhi, I witnessed students exploring different subjects and careers after graduation or LL.M. The teaching methodology and student assignments were also different at NLU Delhi in comparison to Panjab University. Another difference between traditional universities and law universities is the opportunity to interact with students from different faculties and departments. Traditional universities like PU allow students pursuing different subjects like law, arts, science etc to interact and associate. Moreover student unions are stronger and student body elections are significantly more important here.
Significance of the time spent in both the universities has been immense not just in the profession but in life. I made some lovely friends and even met my wife while studying at NLU, Delhi.
As someone who is qualified by both the Bar Council of India and the Law Society of Ontario, Canada, could you discuss the similarities and differences between practicing law in India and Canada?
I have qualified for the bar in Ontario, Canada but have not practiced there. However, I can comment based on the qualifying examination I cleared and the requirements I need to fulfil to continue my license. I think the profession in Canada is regulated in a much better way than in India. To start with, the qualifying exams (barrister and solicitor) which everyone is required to clear to qualify as a lawyer is more challenging than the All India Bar Examination conducted in India. The exams are framed in a manner that tests the candidates on ethical and professional responsibilities, as well as legal knowledge.
Even after qualifying as a lawyer, all lawyers are required to complete several requirements like submitting annual reports, continuous legal training (Continuous Professional Development) etc, failing which lawyers are suspended from practice. These details are also published on the website for the general public to know. Overall the system aims to protect clients from unethical practices and rules and regulations are implemented better in comparison to India.
What are some of the challenges you faced while representing clients in antitrust-related matters before the Competition Commission of India and the courts? How did you overcome those challenges?
Proceedings against these clients are pending either before the Competition Commission of India (CCI) or in appeal stage, so I’ll not be able to state much. However, I can say that antitrust proceedings in India are often based on perceptions and projections. Most of the times the prima facie view formed by the CCI before directing investigation is followed by the office of the Director General (DG) and again upheld by the CCI at the time of passing final orders. CCI often follows the market defined by foreign regulators in similar industries and is often not willing to adapt the market definition to Indian realities. I must add that lawyers also depend and rely on international jurisprudence to support or defend their cases. Despite the wide powers granted to the CCI to impose high penalties and dictate business decisions, the responsibility to establish contravention through evidence is quite low. The lack of transparency in CCI proceedings can also be a cause of annoyance at times.
Since the facts and proceedings are often complex, the Appellate Authorities also refrain from interfering in the primary questions of ‘definition of relevant markets’ and ‘market power enjoyed by parties.’ Although appeals have been allowed against CCI Orders but most of them have been allowed on procedural grounds. Appeals on many important issues are pending before the Supreme Court. Though we are part of the system and are equally responsible for the delays in final adjudication of appeals, we try our best to be ready to meaningfully assist the Courts in deciding these important issues.
Apart from your work with P&A Law Offices, you have also served as a Senior Associate at the Competition Commission of India. Can you share your experience there and the role you played in analyzing merger notifications and investigating alleged anticompetitive practices?
My tenure at CCI has played a vital role in my career. After finishing LL.M. I wanted to work at the CCI to understand its functioning. Unlike Courts, CCI has a very good setup where the Members are assisted by experts from legal, economics, accountancy and other fields. In fact, the decisions passed by the CCI are guided by the analysis and assessment done by these experts. Further, there are different divisions for merger control, antitrust enforcement, legal proceedings that include initiating and defending by CCI, economics, investigation etc. I was fortunate to have worked in different divisions. During my tenure I worked in the investigation divisions where we assessed and analysed cartels, anti-competitive vertical agreements and abuse of dominance related complaints. In fact the resale price maintenance case against Maruti originated from an anonymous complaint analysed by the investigation division.
The combination division dealing with merger control required me to collaborate more with counsels appearing on behalf of merging parties. CCI has a pro-business approach in merger control, however the division ensures that all combinations are notified as per the regulation and then vigorously pursues combinations where it is able to identify a harm arising out of the combination.
In addition to these divisions, I was attached to the office of one of the Members of CCI, where I was required to brief on matters from all divisions.
Lastly, what advice would you like to give to fresh law graduates who are just starting their careers? What key lessons or principles should they keep in mind as they embark on their professional journey?
The most important principle is to be open to all the work that comes one’s way, nothing is too small or too big, to work with sincerity and dedication and not to engage in wasteful comparative analysis. Young professionals should be willing to explore and learn different practices. I think law firms are exerting unwarranted pressure on young professionals to persist with only one field and the industry is needlessly focussing on specialisation. In fact even in a particular field, firms are demanding lawyers to be super specialized. For instance in Competition Law, lawyers are being categorized as enforcement specialists or merger control specialists. Specialisation or super specialisation is fine and may even be essential in the long run, especially in law firms, but fresh law graduates should be encouraged to develop skills and gain knowledge of different fields of law.
The core principles in law are the same across all fields and most of law is based on common sense. This is the reason why most senior counsels are able to represent clients across all fields of law. However, the industry and recruiters are not always willing to embrace young professionals who don’t specialize in one subject at the beginning of their careers. I can easily say from my own experience that all my different experiences, be it original side litigation, legal officer at an insurance company, association with CCI, competition law counsel at a law firm, have played an important role in understanding the legal system better and in practical application of different laws.
Can you tell us about your journey in the field of law and how you ended up specializing in intellectual property (IP) law?
I never originally planned to study law. My parents were very keen on me sitting for the civil services examination, but I was not inclined towards it. After completing my schooling in Pune, ILS Law College seemed like a great option for college and fortunately, I was admitted. It was my father who inspired me to take up IP. We used to discuss his numerous patents that he had filed back in the day when he was a scientist and a professor at IIT. Our conversations revolved around plagiarism and authorship/ownership issues in works created in educational institutes..
Before joining Fidus Law Chambers, you were part of a large IP firm in India, where you managed international trademark portfolios. How did that experience shape your career and expertise in trademark prosecution and contentious matters?
At Anand and Anand, I had the opportunity to learn from some of the best brains in the industry. My work involved handling foreign filings and contentious matters outside India, which allowed me to connect with many law firms and foreign counsels. I built long-lasting relationships with them, and we continue to collaborate even today.
Working on outbound matters taught me a lot. As a representative of my clients and their business, I had to consider costs, efficiency, and timelines for each case. I also had to navigate the challenges unique to each jurisdiction and present viable solutions to clients. This experience helped me gain valuable insights into practice and procedures in different countries, which I would have missed out on if I had continued to focus only on Indian-specific cases.
As a Partner at Fidus Law Chambers, you supervise global trademark prosecution and contentious portfolios for your clients. Could you share some of the challenges you face in this role and how you tackle them?
A one-size-fits-all approach never works when dealing with intellectual property (IP) on a global scale. When faced with a dispute that covers multiple countries, it is best to rely on local expertise and blend it with your own knowledge of the client’s expectations to arrive at a holistic solution. Another challenge that often arises is that, from a business perspective, clients prefer brand names that are easy for consumers to relate to, which means they may not make great trademarks. In such cases, the best solution is to conduct a comprehensive risk analysis and provide clients with various options to choose from. As a lawyer, you must always strive to find a middle ground.
Achieving a 98% success rate in trademark contentious hearings in 2022 is an impressive feat. What strategies do you employ to ensure such remarkable results for your clients?
It’s fairly simple for us. We spend hours preparing for each hearing, with written submissions that include robust timelines and case law. Credit also goes to our experienced team members, who are skilled in handling contentious hearings. We brainstorm before each hearing to decide on our strategy and argument, which has helped maintain our high success rate.
You’ve filed trademarks in over 40 countries in 2022, which demonstrates a significant international presence. Can you highlight the importance of global IP strategies for businesses in today’s interconnected world?
Today, businesses are no longer limited to local markets. Thus, having a robust global IP strategy is extremely important. There have been numerous cases of bad faith filings, where trademark squatters have obtained registrations for clients’ trademarks, and the clients were too late to apply. Businesses can take smart steps to protect their trademark rights. At the preliminary stage of brand checks, one doesn’t even have to engage lawyers. There are multiple databases and websites where any business can quickly check for identical or similar marks.
Apart from your legal career, you are deeply passionate about promoting more women in the workforce and sports. Could you share some of your initiatives and experiences as a community ambassador, organizing and hosting games for working professionals, especially women, in Delhi/NCR?
This is something I am deeply passionate about. I have always been interested in sports and fitness, but I struggled to find team members to play with. Fortunately, I discovered Hudle, a platform started by one of my seniors in college. Through Hudle, I was able to find groups and venues to play at. Last year, I started a group called “Sportsweekenders” in Noida. The group targets working professionals who enjoy team sports such as basketball, football, and badminton. The idea is to encourage more women to play team sports. We encourage men in the group to bring their wives, friends, and sisters to join. The biggest challenge I face in hosting games is retaining female players. Gender stereotypes in sports still prevail, and addressing this is a long and difficult fight.
You have been recognized for your outstanding contributions to the field of IP law, such as being named one of the “Influential Women in IP” and receiving multiple recommendations from prestigious publications. How do you stay at the forefront of the industry and maintain your expertise?
One has to keep evolving with the times. I have always been interested in emerging technologies and issues, and our opinions and strategies align with emerging trends. I encourage my team to come up with innovative solutions that can help our clients. Ultimately, there is no substitute for hard work and consistency.
As an active member of INTA and Marques, you attend their annual conferences regularly. How have these memberships and conferences contributed to your professional growth and networking opportunities?
Conferences are an excellent way to bond with peers, clients, and colleagues globally. Knowledge sessions offered at these conferences can facilitate personal growth and learning. As a member of INTA committees, I regularly attend committee sessions, which I find very helpful. The cultural diversity of these conferences is another plus point, as it can help you step out of your comfort zone.
Could you share some key lessons or insights you gained from attending the trademark practitioners training course offered by the Japan Patent Office and the summer school in intellectual property laws at Xiamen University in China?
The JPO training was intense. The group consisted mostly of lawyers from Asian countries. We analyzed IP laws in our respective countries and compared them with those of other countries. The summer school in Xiamen was enjoyable, as I got to experience life as a student in Xiamen. Our days were spent studying cases and going on field trips. Both experiences enriched me culturally.
With your experience and success in the legal profession, what advice would you like to give to fresh law graduates who are starting their careers today, especially those interested in specializing in intellectual property law?
Honestly, these days, freshers don’t need advice. They know exactly what they want and when they want it. Just be true and honest with yourself, make mistakes, learn from them, and eventually, you’ll end up doing something you love. For those who desire to get into intellectual property (IP), I suggest reading up a lot and subscribing to publications if you can. Some of the students who intern with us are very well-read, and it’s a pleasure to work with them. We regularly absorb such interns who show merit and hard work.
IP is fascinating, and with emerging issues and technologies, it’s a whole new world out there, and the legal implications of these emerging laws are wide. We are blessed to be witnessing the future as some of the laws are now taking shape. This is a great time to be an IP lawyer.
Lastly, looking ahead, what are your future aspirations and goals both professionally and personally, and how do you plan to continue making a positive impact in the legal and broader community?
Professionally, I want to continue doing what I am doing. I want to lead with purpose and help the younger members of the firm become the best versions of themselves. Specifically, I want to mentor younger lawyers, especially female lawyers, as they navigate the challenging workspace, find balance, and become productive members of society.
Personally, I want to build a bigger community of sports enthusiasts in my neighborhood, with more female participation from ages 30 and above.
Could you share with us the journey of how you ended up pursuing a career in law and specifically in the field of Intellectual Property Rights (IPR)?
Since childhood I aspired to become a lawyer. If I remember correctly, around the age of 14 or 15, I thought it would be most exciting to take up criminal law. Courtesy movies! However, as time progressed, I started taking interest in what my Father did. Having been in the practice of core IPR, my Father, Mr. S Majumdar, set up his firm in Kolkata, under the banner of S Majumdar & Co. at a young age.
Upon completion of my academics and trainings, I joined the firm in 2008 at the Head Office in Kolkata. Initially I focused on trade marks and had the liberty to expand the team, with his unwavering support. In 2011, I shifted to New Delhi to manage operations of the newly setup branch office. Since then, I have been based in New Delhi, with frequent work trips to other offices at Kolkata and Mumbai.
Joining S. Majumdar & Co. in 2008, could you tell us about the initial challenges you faced ?
Challenges are constant and manifold and as a professional, one has to be open to such challenges. In our practice, soon upon joining, I realised that to become a part of the team, I had to be more patient, perhaps because I was required to hear more and make my notes. Complying with internal deadlines was mandatory and it is still so. Therefore, I had to ensure that I complied with the various timelines set for each activity (including meetings, deadlines, other deliverables, or even casual lunch time chats).
But I have realised that it is the initial challenges and how you deal with them which are critical to mould one’s outlook and also equip one to handle further challenges which come with additional responsibility entrusted to you by the firm or the client.
Additionally, the field of IPR, especially litigation in IPR, has its own unique challenges.
With over 15 years of experience in the field of law, could you share some interesting or memorable cases or clients that you’ve worked with?
I take special interest in suits involving civil/criminal raids and each of them become memorable ones. Nevertheless, I can certainly not miss out on mentioning some of the worthy ones.
Around 2009, I was fortunate to have had the opportunity to assist Mr. Majumdar in the first the then Intellectual Property Appellate Board (IPAB) case relating to staying operation of a patent. This was a dual sim mobile case, before the Customs Office, Delhi and the IPAB. In this case, the patentee managed to obtain a frivolous patent in respect of a multiple sim mobile phone. Basis such patent, he approached the Customs office for confiscating all dual sim mobile sets being imported to India by the leading mobile phone manufacturers. Consequently, all such manufacturers had to wait for a decision from the appropriate forum to ensure that such goods could be released and launched in the Indian market. The Indian Cellular Association (ICA) was actively involved in trying to provide relief to all these leading mobile manufacturers.
Back in 2010, I was fortunate to be a part of the first GI litigation in India, concerning Darjeeling tea. The said litigation was initiated by the Tea Board of India against ITC Limited on the basis of their registered GIs including Darjeeling. The matter went on for years and was eventually decided in ITC’s favour. At the SLP stage, the Supreme Court did not get into the merits of the case and the matter was disposed of, with certain directions to the High Court. In fact, the matter was to be decided by the Suit Court (in Calcutta) on the question of law of GI and Certification Trade Mark only, without going into a lengthy trial and examination of documents/ witnesses. The Judgement was pronounced orally by the Hon’ble Justice Sahidullah Munshi on February 2, 2018, dismissing the suit, and the lawsuit was decided in favour of ITC. The Court reiterated the findings of the interlocutory Court. The Court found that the Plaintiff’s registered GI and Certification trademarks are restricted to tea and the protection afforded by the same cannot extend to lounge services. The Court further observed that Tea Board had failed to establish a case of passing, dilution or unfair competition. The Court specifically held that Darjeeling being the name of a place cannot function as a regular trademark, and though Darjeeling may be famous for tea, Tea Board is not entitled to allege that Darjeeling cannot be used by any other traders for their own goods and services for goods/ services, other than tea.
Referring to a couple of the recent decisions, in 2020, I was involved in a copyright infringement case concerning A Sirkar Vs B Sirkar, which was instituted before the Commercial Court, Alipore, Kolkata where about 7 jewelleries were copied in toto by the Defendants. We received favourable orders at all levels and eventually the suit was settled. This case was quite unique and interesting.
In another infringement case, before the Federal Court of Canada, through the local Counsels, we were successful in an infringement suit concerning the well-known trade mark AMUL. Amul was awarded damages of $10,000 for actions contrary to the Trademarks Act, $5000 for actions contrary to the Copyright Act and awarded costs of US$ 17,733, payable by the Defendants.
As an active participant in IPR awareness programs organized by various institutes in India, could you share some insights into the importance of raising awareness about intellectual property rights, especially in today’s digital age?
Raising awareness has always been important considering that IPR is a powerful tool that stimulates innovation and creativity leading to economic development. It is essential that we are conscious of the efforts taken at the stage of innovation and creation, by this I mean is that before any IP is created, one has to ensure that there is no encroachment into the rights of a third party, especially in the digital age where we have access to a lot more content than before. Therefore, on the one hand, it is easy to copy and on the other, it is easy not to copy. For these reasons, awareness is important, especially amongst the younger innovators/creators, irrespective of the domain. Such discussions are always helpful, infact, in the process, we also get to learn so many new things happening around us.
In fact, under the current regime, IPR is of very high importance, and we see a lot more happening in terms of spreading awareness, at all levels.
The field of law, particularly IPR, is constantly evolving. How do you stay up-to-date with the latest developments and trends in the industry to provide the best advice to your clients?
Yes, considering that IPR is constantly evolving, it is important that we are updated with the latest decisions being passed by the various fora and follow various discussions on relevant platforms. Interacting with clients, attending various conferences, including global conferences, are important to help keep one updated with development and trends in the industry as well as the global scenario with respect to IPR. One after all needs to ensure they are able to keep pace with the rapid technological developments and in that context advise clients on the securing and enforcing of IPR.
Recently, on August 5, SILF marked a significant milestone with the virtual inauguration of the SILF ladies group on the occasion of Lady Lawyers Day event. What is the scope of women lawyers in the profession?
Recollecting words of Late Ruth Bader Ginsburg, “women belong in all places where decisions are being made. It shouldn’t be that women are the exception”.
Women possess an innate ability to empathise, communicate and offer solutions to bridge gaps, which could immensely help professionals in the field of law. Always remember, gender shouldn’t be a bar at any point in time considering that we have the same ability to deliver. In any case, irrespective of gender, the profession demands perseverance.
I personally look up to some of the eminent lady Judges and lawyers who have greatly contributed to the profession. I also admire some in-house counsels I have personally worked with, who have been significantly contributing to the growth of the companies with their acumen.
Referring to eminent personalities in the world of IP, Hon’ble Mrs. Justice Prabha Sridevan (Retd) and our current Hon’ble Mrs. Justice Pratibha Singh are great inspirations.
Hon’ble Mrs. Justice Prabha Sridevan (Retd) delivered some pathbreaking judgments during her tenure as the Chairman of the then IPAB.
Hon’ble Mrs. Justice Pratibha Singh, with her extensive experience in IPR, has shown exemplary dedication in her judicial responsibilities. I am sure all IP practitioners acknowledge her untiring contributions to the creation of the IPD in Delhi High Court.
Lastly, with your extensive experience and success in the legal profession, what advice would you like to give to fresh law graduates who are considering a career in IPR?
IPR is vast and therefore, there are several opportunities available for law graduates. In fact, after having completed the IP course at the law school, one should consider IP internships to gather experience and also to see if the subject suits. Subsequently, one may choose a career in between Court and in-house practice.
Can you tell us about your journey and how you ended up practicing law in the field of life sciences and healthcare?
After graduating from Universidad de Buenos Aires with a law degree in 2002, I joined Marval O’Farrell Mairal as a legal trainee and had the privilege to work in multiple practice areas, such as banking, commercial law, public law, maritime and air law, insurance, and complex litigation.
My first contact with the industry of life sciences –during my practice at the Litigation and Arbitration Department– was through a clinical trial agreement, where I found a really complex regulatory structure for a fascinating industry. After that experience, I decided to develop the regulatory practice at the life sciences department in the firm. I began to network and assist life sciences clients on a wide range of contentious, regulatory, and transactional matters, combining different areas of expertise such as bio-pharmaceutical, healthcare, health-tech, medical devices, dental products, cosmetics, toiletries and perfumes, households cleaning products, food industry, animal health and food, food-contact products, and agribusiness (seeds, agrochemicals, herbicides, insecticides, fungicides, fertilizers, growth regulators, GMOs, and other related products), among other industries.
Nowadays, our practice group for Life Sciences and Healthcare industries is one of the largest and best teams in LatAm. We have a team of six fully dedicated associates, experts in this field, who assist our clients in all aspects of their business. Besides the “pharma team”, we have specialized professionals across all practice areas of the firm (corporate, tax, customs, IP, antitrust, etc.). All together, we are about 60-70 lawyers with an actual life sciences and healthcare practice in connection with our fields of expertise.
Our team provides legal advice to leading global companies on regulatory strategies and compliance matters, ranging from the client’s day-to-day business to complex cross-border transactions, start-ups, joint ventures, M&As, spin-offs, product liability, contracts, compliance training, monitoring, audits and investigations, (trial and pre-trial) administrative proceedings and litigation, and civil and commercial advice in general.
Our main objective is to help our clients by delivering sophisticated, high-quality, and multi-practice work in cross-discipline matters for complex projects, enhancing the outcome.
What drew you to specialize in regulatory strategies and compliance matters for the bio-pharmaceutical, healthcare, and other related industries?
During my practice, I found an important gap between, on the one side, local laws and regulations regulating this industry and, on the other, the challenges clients face regarding compliance with them in the practice. These challenges are especially hard in those spaces where the law has loopholes or is ambiguous. I was able to identify a gap in the Argentinian legal market that no other law firm was fulfilling: the need of clients to receive advice on these matters with an “industrial” focus. We do so by providing multidisciplinary support to the client. The fact that Marval is a full-service law firm gave us an enormous opportunity to encompass this need and provide valuable solutions for clients.
With your extensive experience in both contentious and non-contentious legal advice, what are some of the most challenging cross-border transactions or complex projects you have worked on?
Our Life Sciences & Healthcare practice is consistently involved in large, complex –often high-profile– transactions, and other key matters in the sector. Due to their strict confidentiality, in many cases we cannot refer to the clients and/or projects by name. We will thus mention them broadly:
Currently, we are designing the regulatory, corporate and tax strategy for a top pharma company to merge its multiple corporate and manufacturing facilities structures into one robust cost-effective pharma vehicle, facing the challenges that derive from legal loopholes in the sanitary regulations vis-à-vis the regulated corporate and tax frameworks.
We are advising a global pharma company on the different available business models for landing their operations in the Argentine market.
We assisted a top pharma company in the spin-off and selling of a business unit (mature pipeline) in Lat-Am, coordinating the work in 19 countries.
We assisted three top pharma companies in the designing and implementation of the regulatory, corporate and tax strategy for the spin-off merger of their consumer healthcare portfolio (Rx, OTC, medical devices, cosmetic, and food products).
We assisted a top global food company in the designing and implementation of the water business unit’s spin-off merger for creating a joint venture with a third-party player, from a regulatory, corporate and tax perspectives, covering multiple jurisdictions in the country where manufacturing facilities were located.
We advise top pharma companies for their strategy assessments and implementations of hybrid business models in Argentina.
In the context of a full lockdown due to the coronavirus outbreak, we assisted Pfizer Inc. with the negotiation and execution of the clinical trial agreement for starting phase III trial of the vaccine candidate for Covid-19 in Argentina (August 2020).
We assisted a key global player who offers value-added fermentation solutions for fuel ethanol and renewable chemicals producers, to define the best regulatory strategy for registering fuel and consumable ethanol-based products to develop the local market.
We advised Takeda Pharma when it sold the Hepatalgina business unit (OTC medicine) to Laboratorio Elea-Phoenix S.A. (June 2020). The transaction included the transfer of an operating manufacturing plant, employees, trademarks, and product marketing authorization certificates. The transaction was carried out during the Covid-19 pandemic, while a mandatory quarantine was in force. It therefore required coordinated, innovative, and collaborative legal work to close successfully.
We assessed in negotiating the transfer of technology agreement between a multinational biotech pharmaceutical company, a state-owned pharmaceutical company, and the Argentine Government for manufacturing and supplying a complex drug.
We advised on the start-up operations in Argentina of top-ten biotech global pharmaceutical companies, including orphan drugs manufacturers.
We assessed in negotiating and implementing a divestment process of the local business of a French global pharmaceutical company to move from a full affiliate business model to an indirect business model through a third-party distributor for continuing supplying the local market.
We advise global cannabis companies on the Argentinian regulatory landscape and the possible business models for starting operations in it.
We provided legal support on cross-border transactions in acquiring and restructuring healthcare businesses of global healthcare companies.
We provided regulatory assessment and advice on the Pharmacy Program of a top-three global retail company for its pharmacy division.
We advised on the start-up operations in Argentina of a leading cosmetic and personal hygiene products company in Latin-America.
We provided legal support on cross-border transactions in acquiring and restructuring medical devices businesses of global medical devices companies.
We advised on the start-up operations in Argentina of leading multinational food companies, and a leading global food packaging company.
We provided legal support on cross-border transactions in acquiring and restructuring vineyard and winery businesses, including advice on food-contact regulation for importing finished wine corks.
We advised a leading global infant formula company during a cross-border transaction for acquiring SanCor’s infant formula business unit and designing and implementing a joint venture project.
We advised multinational pharmaceutical companies and US universities on clinical trial matters in Argentina.
We design and implement compliance programs and training for the interaction between pharmaceutical and medical devices companies, and healthcare professionals, HMOs, Pos, and third-party vendors. We also carried out several on-going risk assessments on current practices for the Argentinian market.
We provide specialized advice on pool procurement and risk-sharing schemes for the pharmaceutical industry.
We advised top global confectionery products companies about the Argentinian regulatory landscape and the possible business models for starting operations in Argentina.
We provided legal support and advice on a regional distribution agreement in Lat-Am for a global Japanese chemical company, coordinating the work of several jurisdictions besides Argentina (Brazil, Colombia, Chile, Mexico, and Peru).
We provided regulatory advice to global companies on agribusiness regulations and legal support on cross-border agribusiness transactions (seeds, agrochemicals, herbicides, insecticides, fungicides, fertilizers, growth regulators, GMOs, and other related products).
We have provided both contentious and non-contentious advice to leading multinational companies on regulatory strategies and compliance in the pharmaceutical, healthcare, biotech, medical devices, medical-technology devices, dental products, cosmetics, toiletries and perfumes, households cleaning products, agribusiness and food industries, on a broad spectrum of matters from clients’ day-to-day business to complex cross-border transactions, start-ups, joint ventures, regional business’ re-structuring, M&As, and spin-offs.
As a partner at Marval O’Farrell Mairal, how do you deliver sophisticated, high-quality work in cross-discipline matters for your clients?
By being personally involved in all the on-going projects. I am the first point of contact for my clients, and I am always available for them, either personally or through my team.
We generate 80% of our workload. The pharma team has a fully specialized team of six associates with full time dedication to this practice. The team also has the support of the firm’s other practice areas, to provide life sciences clients with a multidisciplinary, cost-effective support.
For me, as a partner, it is a priority to understand the current needs and goals of our clients. By thoroughly identifying the challenges they face and the dynamics of the industry, we can provide tailored legal advice and strategies that effectively address their specific requirements. Strong client communication and collaboration are fundamental to our approach. We maintain open lines of communication, actively listen to our clients’ concerns, and provide timely and responsive advice. It is about building long-term partnerships based on trust and a shared commitment to achieve our clients’ goals and business needs. In fact, we consider ourselves as trusted advisors for our clients.
You have written numerous articles and co-authored chapters in various publications. Could you share some insights from your recent publications and their significance in the regulatory landscape?
We recently updated The Pharma Legal Handbook for 2023, published by Pharma Boardroom, which is a guide providing in-depth information and analysis of the legal and regulatory framework for the pharmaceutical industry in many countries. It covers a wide range of pharmaceutical law topics, including patents and trademarks, regulatory requirements, clinical trials, orphan drugs and rare diseases, pricing and reimbursement, cannabis, biologics and biosimilars, product liability, and more. This handbook aims to provide practical insight and guidance while navigating the complex regulatory landscape of the pharmaceutical industry. It offers analyses of the key legal issues and challenges faced by pharmaceutical companies, as well as best practices and strategies for compliance.
We have recently updated the International Pharmaceutical Law and Practice as well, published by LexisNexis, a work that also covers the principal regulatory aspects of pharmaceutical law, but focuses on the intellectual property (licensing, trademarks, patents) side of pharmaceutical products. Its importance to the legal landscape lies in how crucial intellectual property is to pharmaceutical companies: it enables them to innovate and protect their investments while maintaining a competitive advantage. By bringing together the essentials of intellectual property law from a pharmaceutical perspective, companies will have a starting point for understanding the requirements they need to meet in order to develop their industry in Argentina and protect their intellectual property.
You have been invited to speak at conferences and seminars in the healthcare and life sciences industry. What are some of the key topics you have covered in these speaking engagements?
My team and I usually participate as speakers in different webinars, conferences, or university classes covering a broad range of topics such as biologics and biosimilars regulations in Argentina, regulatory framework for medicines and devices and possible business models for landing operations, key developments of cannabis laws in Argentina, digital and electronic prescriptions, and the novel front-of-package regulatory framework applicable to foods and beverages. Our main goal is to explain the Argentinian legal framework with a pragmatic approach, where laws and regulations are considered jointly with current practices in the industry, case law precedents, and considerations about where the health authority may be focused at that time.
Could you share your involvement and role in professional organizations such as the International Bar Association (IBA), Lex Mundi, AmCham, and the Buenos Aires Bar Association?
As a member of the IBA Life Sciences and Healthcare Practice Group, I actively participate in it for updating contents and assisting to our global meetings, inviting new pharma colleagues to join us from around the world, and expanding our network, which provides a great opportunity for interaction between peers and clients to debate pressing issues in the industry.
I am an active member of the AmCham’s Health Group in Argentina, which is one of the main platforms in which the private health sector holds meetings to debate about their main public/private interests and make proposals to be debated or analyzed with individuals or entities of the public sector.
I am also involved in other very relevant professional organizations, such as the Food Lawyer Network, the American Bar Association, Latinos in BIO, plus support to programs such as the one conducted by Seton School of Law for the Latin American Healthcare and Life Sciences program.
Among your recent conference attendances, which one stands out to you the most and why?
The conference that stood out the most recently was IBA’s Life Sciences & Healthcare annual global meeting last June in Washington DC, followed by BIO International Convention the next week in Boston, US. At several panels featuring industry speakers and other legal experts during dynamic roundtable sessions we discussed key developments in the life sciences and healthcare industry. These conferences provide an excellent opportunity to network with different peers and industry experts.
With your expertise in the field, what are some current trends or emerging challenges in the life sciences and healthcare sectors that companies should be aware of?
One of the hot topics in Argentina today is the digitization of the healthcare system. Recently, Argentina’s Ministry of Health created a unified digital medical record system that, when applied, is expected to significantly improve the accessibility, accuracy, and efficiency of patient information. It will allow healthcare providers to securely store and retrieve patient data, track medical records, access diagnostic results, and facilitate the exchange of information between different health facilities. The Ministry of Health also stipulated that authorized healthcare professionals can issue electronic or digital prescriptions and treat patients through telemedicine platforms. This is a major step forward, as patients can now access healthcare services without leaving their homes, which is very beneficial in a country like Argentina, that has many rural or remote areas. This shows a tendency to look for new technological solutions to structural problems in the healthcare system.
Another emerging trend is the use of cannabis to develop medicines and foods with potential therapeutic effects. For many years, this was a controversial component, but as medicine evolved, more companies have ventured into the cannabis world to discover its many uses in the treatment of diseases.As research advances and public attitudes change, laws and regulations may adapt to reflect new scientific evidence and public demands. As a result, stakeholders in the pharmaceutical and food industries must stay informed of specific regulatory requirements and developments in their respective jurisdictions, to ensure compliance and safety when dealing with cannabis-based products.
Lastly, what advice would you give to fresh graduates who are interested in pursuing a career in law, particularly in the field of life sciences and healthcare?
Alongside academic learning, practical experience is invaluable. I would encourage them to seek out internships or work opportunities, especially with law firms or in government agencies, or in organizations that specialize in the life sciences and healthcare sector. This experience will allow them to apply their legal knowledge to real-world situations, develop practical skills, and gain important insights into the industry.
In the ever-evolving field of life sciences and healthcare law, it is critical to keep up with industry developments, legislative changes, and significant court rulings. Subscribing to relevant publications; attending conferences, seminars, and webinars; and joining professional associations or networks on healthcare and life sciences are some of the best ways to keep up with recent developments.
It is also helpful to develop a broad skill set and understanding of related areas, such as corporate law or intellectual property. This will enhance their expertise and ensure that they can provide a multidisciplinary approach when assessing a client.
Finally, I would tell them to not underestimate the power of genuine interest and passion. Life sciences and healthcare law can be complex and challenging: it requires a deep understanding of scientific and medical concepts. Stay curious, continue learning, and adapt to new developments. By demonstrating your commitment to clients’ needs, you’ll contribute to a fulfilling and successful career.
Can you tell us about your educational background and how you ended up pursuing law after completing your CA and BCom degrees?
I have always been interested in law and used to look up to my seniors/mentors in the family circle who are in this field. As I was pursuing CA, I simultaneously started my law course post my graduation. I believe that my educational background has given me a unique perspective and a competitive edge in the legal field.
You have an impressive range of experience in various sectors, from Fintech to Energy and Infrastructure. What drew you to work in such diverse industries in the field of taxation?
I have always been interested in taxation as a way of understanding how different sectors of the economy operate and interact. I enjoy learning about the specific challenges and opportunities that each industry faces, and how tax policies can affect them. These are dynamic and innovative sectors that have a significant impact on changing the way economy functions and society. I mean we can see the kind of fintech’s getting registered in GIFT City (IFSC) and huge impact that they have in breaking stereotypes, changing the way people understand personal financing or personal investing. It is fast capturing the huge market potential and I think would continue doing that for the time to come.
You’ve handled M&A transactions and tax due diligence for several clients. Could you share a memorable experience where your tax expertise played a critical role in the success of a deal?
It was the most challenging and a steep learning curve of my career when we helped a client acquire a company that had significant tax liabilities. Client wanted to buy the company, but they did not want to inherit the tax problems.
We conducted a thorough tax due diligence on target and identified main areas of exposure and potential solutions. We also assisted in obtaining a clearance certificate that would protect the client from any future claims. We also advised on optimal tax structuring alternatives for the acquisition, taking into account the tax implications thereof.
As a result of our months of hard work, client was able to close the deal with confidence, and saved millions in taxes and penalties. I was very proud of my contribution to this deal, and I received positive feedback from my partners.
I also cherish receiving a commendation from our partner for conducting an internal training on new joinees on several aspects of M&A.
As a Partner at MVKINI Law Firm, you lead the tax department and manage a team of lawyers and CA’s across multiple offices. How do you ensure effective collaboration and coordination among team members?
It is challenging when team is spread across multiple offices and has different areas of expertise. I try to set clear goals and role profiles of team members, setting the priorities right and most importantly leveraging technology tools, such as video conferencing and cloud platforms, to facilitate effective communication and real time collaboration among team members. It is also important to continuously develop their skill sets through regular trainings particularly in our dynamic and evolving field of taxation.
During your time at Ernst & Young, you worked on advising prospective resolution applicants on acquisitions under the IBC regime. What were some of the most challenging aspects of dealing with distressed undertakings in terms of taxation?
One of the most challenging aspects of dealing with distressed undertakings in terms of taxation was the uncertainty and complexity of the tax implications arising from the resolution process. For instance, we had to assess the tax impact of various structures to implement target acquisition, such as debt restructuring, asset sale, merger or demerger etc. We also had to consider the tax implications of any write-off or waiver of debt, as well as the tax treatment of any losses or unabsorbed depreciation carried forward by the corporate debtor. Furthermore, we had to keep abreast of the evolving regulatory and judicial developments in this area, as there were many unresolved issues and conflicting interpretations regarding the taxation of distressed undertakings under the IBC regime.
From your experience in handling tax litigation and representation before various authorities, what are some key strategies you employ to achieve favorable outcomes for your clients?
It is already well emphasized and there are no two views about it. What is of paramount importance is thoroughly digging and understanding facts of the case. It is also an art to get complete set of facts out from a client and once a lawyer is aware of facts, I would say half the battle is won. Certainly researching and preparing legal arguments and presenting effectively is other part of the coin.
I also prepare clear and persuasive arguments and evidence to support my client’s position and challenge the opposing party’s claims. Also, I believe litigation is not all about fighting only for the sake of it. What I have learnt from my seniors is to not force clients into prolonged litigation and wherever possible seek to resolve the dispute through negotiation or settlement.
You’ve also been involved in assisting FPI clients with Indian tax compliances. Can you share some insights into the specific challenges and considerations that foreign investors face while navigating the Indian tax landscape?
One of the main aspects of my work was to help FPIs comply with the Indian tax laws and regulations be it advisory, compliances or litigation. Some of the challenges and considerations that FPIs face while investing in India are:
– The classification of FPIs into different categories given their unique structures in their home jurisdiction and navigating the same into Indian jurisprudence based on tax treaties
– The withholding tax obligations on various types of income, such as dividends, interest, capital gains, and royalties, and the availability of tax treaties and lower rates for certain jurisdictions.
– The reporting and documentation requirements for FPIs, such as filing of tax returns, furnishing of certificates, and maintaining of books of accounts and records. I witnessed how EY was a flagbearer in implementing automated processes for doing these tasks and the amount of effort and investment that went into doing so.
– The risk of tax audits, assessments, and disputes by the Indian tax authorities, and the options for resolution and appeal.
With a substantial background in IBC litigation and commercial arbitration, what advice would you give to businesses or individuals who may find themselves in insolvency situations?
Insolvency situations are complex and challenging for any business or individual, and they require careful planning and professional guidance. My advice would be to seek legal assistance as soon as possible, and to explore all the available options for resolving the insolvency, such as restructuring, settlement, liquidation, or bankruptcy. I would also advise them to cooperate with the creditors and the insolvency resolution professionals, and to comply with the relevant laws and regulations. Additionally, I would suggest them to consider the benefits of alternative dispute resolution methods, such as arbitration or mediation, which can help them avoid lengthy and costly litigation, and achieve a more satisfactory and amicable outcome.
Having worked in both corporate law and tax advisory roles, how do you strike a balance between legal compliance and tax efficiency when structuring deals for clients?
As a legal and tax advisor, I always aim to provide solutions that are both compliant with the relevant laws and regulations and efficient in terms of tax implications for the clients. I believe that legal compliance and tax efficiency are not mutually exclusive, but rather complementary aspects of deal structuring. To achieve this balance, I follow a few principles:
– First, I always start with a thorough analysis of the client’s objectives, needs and preferences, as well as the specific facts and circumstances of the deal. This helps me to understand the scope and complexity of the issues involved and to identify the potential risks and opportunities.
– Second, I research and evaluate the applicable legal and tax frameworks, both domestic and international, that govern the deal. I also keep abreast of the latest developments and trends in the relevant fields, such as new legislation, case law, guidance and best practices.
– Third, I design and propose solutions that are tailored to the client’s situation and goals, taking into account the legal and tax implications of each option. I also communicate clearly and effectively with the client, explaining the pros and cons of each solution, as well as the assumptions, limitations and caveats involved.
– Fourth, I collaborate and coordinate with other professionals, such as lawyers, accountants, bankers and consultants, who may have different perspectives and expertise on the deal.
– Fifth, I monitor and review the implementation and execution of the deal and provide ongoing support and advice to the client, in case of any changes or issues that may arise after the deal is closed.
Throughout your career, you’ve worked with clients from various sectors and industries. How do you stay updated with the ever-changing tax laws and regulations to provide the best possible advice to your clients?
That’s a great question but I am afraid my answer not any different. It is 3R’s – READ, READ and READ
I think it’s very important to keep up with the latest tax rules and trends, especially in this dynamic and complex environment. You need to subscribe to knowledge databases, newsletters and podcasts from reputable sources that cover tax news and analysis, follow some influential tax experts on social media and blogs, attend regular webinars and workshops that offer updates and insights on various tax topics and issues. What is also understated is consulting with fellow colleagues or mentors if you have any doubts or questions who are always welcoming and provide different perspectives which you might have just not thought about. In fact, I also sometime try to find time to share my knowledge with extended family on LinkedIn by sharing my analysis on latest tax controversies and new legislations.
As someone who has achieved considerable success in your field, what advice would you like to give to fresh law graduates who are just starting their careers in the legal profession, especially those interested in taxation?
Don’t stop asking questions and learning new stuff. Tax law is tricky and always changing, so you gotta keep your curiosity and your brain sharp. Look for ways to learn more, like taking courses, going to events, and reading a lot. Get your hands dirty, try to get as much real-world experience as you can, through internships, jobs, or whatever. This will help you improve your skills and meet people who can help you out.
Money should be secondary as your career just starts and I strongly discourage this tendency nowadays to switch jobs in name of ‘climbing the ladder’ or taking a ‘steep curve’.
A good mentor can help you navigate the tough times (which very often comes in this field), so find one and discuss whenever in doubt. Also, I do believe, everyone has their own set of challenges and pace, so relax and avoid self-comparing tendencies. There is this poem which was introduced to me by our CA-IDT class professor, Mr Ajay Jain – DON’T QUIT
Can you tell us about your journey and how you ended up practicing law with a focus on litigation and alternative dispute resolution?
My journey in the legal profession has been deeply influenced by the inspiring example of my father, an esteemed and hardworking advocate in his own right. Witnessing his dedication and success in representing clients from diverse backgrounds before the courts instilled in me a profound interest in litigation from an early age.
I believe my foundation in law was laid through observing my father’s work, engaging in discussions with him about courtroom strategies, and purely out of curiosity reading pleadings and cross-examination notes prepared by him. These formative experiences fostered a natural inclination towards litigation and reinforced my determination to follow in his footsteps and practice as a litigator.
During my time at law school, I pursued internships and opportunities that allowed me to gain hands-on experience in the world of litigation. One significant association was with the law firm M/s Shaunak Satpute & Co., renowned for its expertise in representing clients before various courts and tribunals. As an intern and later as an associate with this distinguished firm, I had the privilege of drafting pleadings, handling ancillary court documents, and independently arguing cases in front of the judiciary. The guidance and mentorship of Mr. Satpute, a seasoned legal professional, played a pivotal role in honing my skills and bolstering my confidence. I am immensely grateful for the platform provided by M/s Shaunak Satpute & Co., as it equipped me with the necessary skill set and fortitude to build a fulfilling career in litigation.
My journey as a litigator has been shaped by a passion for justice, a dedication to the legal profession, the invaluable lessons learned from my father coupled with the emotional urge to follow his footsteps and esteemed mentors and guiding forces like Mr. Shaunak Satpute, Mrs. Zia Mody and Mr. Farhad Sorabjee throughout my career.
You’ve had extensive experience representing clients before various courts and tribunals in India, including the Supreme Court and different High Courts. What attracted you to this area of law and how did you become involved in such diverse and complex cases?
Indeed, the allure of litigation lies in the profound opportunity to champion our clients’ causes and seek justice before the courts. I firmly believe that advocacy in the courtroom is the heart and soul of our profession, and it is this conviction that drew me to this area of law.
Litigation is akin to a captivating game of chess, where strategic thinking, extensive research, and meticulous preparation are paramount. The thrill of pleading one’s case before the court is matched only by the satisfaction of crafting compelling arguments and presenting them effectively. Each case presents its unique challenges, requiring a keen understanding of the law and a proactive approach to anticipate the opposing party’s moves.
After my tenure at M/s. Shaunak Satpute & Co., I had the invaluable opportunity to join AZB and Partners, a prominent law firm in India, where I had the privilege of working closely with Mrs. Zia Mody. This experience exposed me to complex and diverse litigations and arbitrations, including high-stakes disputes involving public trusts, international commercial arbitrations, and fiercely contested corporate disputes.
Under the mentorship of Mrs. Zia Mody, I honed my skills and cultivated a never-say-die attitude. Over the course of my six years at AZB, I had the privilege of representing clients in matters before the Bombay High Court and the Supreme Court of India. Several of these landmark cases resulted in reported judgments, which further underscored the depth and complexity of the matters I handled.
Followed by my stint at AZB, I have been working with JSA as their disputes partner for last eleven years where I have continued to handle and lead high-value and intricate cases before various Courts, and fora. At JSA I have had the opportunity of advising and representing diverse clients in arbitration proceedings both, domestic and international. This continued exposure at JSA has equipped me with the confidence and acumen necessary to navigate any challenge, no matter how intricate or critical. JSA has also provided me with the platform and independence to expand my practise in diverse areas of corporate & commercial disputes, as well as matters pertaining to Media & Entertainment law which include contentious matters pertaining to copyright infringements in cinematographic films, disputes pertaining to rights in a cinematographic film, legal opinions on copyright infringement, advertising standards, disparagement, advisory and documentation in relation to assignments of rights in a cinematographic film. This has shaped me into a seasoned litigator, capable of representing our clients’ interests with unwavering dedication and a commitment to excellence.
The field of law can be quite challenging and demanding. Could you share some of the most memorable or impactful cases you’ve handled throughout your career?
I must admit that the field of law is indeed dynamic and presents a constant stream of challenges. Throughout my career, I have had the privilege of handling numerous impactful cases, each with its own unique set of facts and complexities.
Among the most memorable and impactful cases was a dispute between two joint venture partners, which epitomized a classic shareholder’s dispute. This matter demanded urgent applications for interim relief, requiring my team to employ strategic foresight and navigate potential countermeasures. The late-night counsel conferences and rigorous internal discussions to chart the best course for our client were defining moments. Ultimately, achieving a favourable outcome in that matter remains a cherished and highly instructive experience for me as a litigator.
Another significant case involved a contractual dispute between our client, a renowned software company, and a formidable counterparty engaged in the travel and tourism business. The counterparty resisted the appointment of an arbitrator and opposed Section 11 proceedings all the way to the Supreme Court. The complex arguments presented by both sides during the Section 11 proceedings at the High Court and the Supreme Court culminated in reported judgments in favour of our client.
Adding a unique twist to the case, the arbitrator initially appointed by the Court on behalf of the counterparty recused himself, leading to the counterparty’s attempt to appoint an arbitrator of its choice after forfeiting its right to do so initially. My team successfully filed an application opposing this appointment, contending that the counterparty had relinquished its right and, given that the court had appointed the original arbitrator, only the court could appoint the replacement. This application, too, was contested vigorously before the High Court and the Supreme Court, ultimately resulting in a favourable judgment for our client.
These cases exemplify the essence of practicing law, where relentless dedication, strategic acumen, and profound legal knowledge converge to secure the best possible outcomes for our clients. I take immense pride in leading our firm’s talented team to handle such impactful cases and provide exceptional legal representation to our valued clients.
In your profile, you mentioned advising and representing clients in international arbitrations. How does the approach to international arbitration differ from domestic ones, and what are the unique challenges you face in cross-border disputes?
Here, I must underscore that international arbitration stands apart from domestic proceedings due to its unique complexities and considerations. When dealing with cross-border disputes, we approach the process with careful attention to the applicable law governing the contract and the rules governing the arbitral proceedings. Given that, wherever necessary, engaging a local counsel or law firm specializing in the relevant law ensures sound legal advice and accurate contract interpretation, enhancing the overall effectiveness of the representation.
One key distinction in international arbitration is the approach to discovery. The process of requesting and objecting to document production differs in form and practice compared to domestic arbitrations. Therefore, I along with my team adopt a tailored approach to address these nuanced aspects while representing our clients in international arbitrations.
Cross-border disputes present distinct challenges, notably the fixed time frames allotted for conducting cross-examinations and advancing arguments. Adequate preparation is essential, and we meticulously adhere to time limits for cross-examination of witnesses and oral arguments. To ensure optimal performance, we conduct mock trials in advance of the hearings.
Additionally, enforcement of foreign awards poses another challenge in cross-border disputes. My team remains vigilant in navigating the intricacies of enforcing such awards, employing our expertise to protect our clients’ interests throughout the process.
White-collar criminal proceedings and investigations are another significant part of your practice. What drew you to this particular area of law, and how do you navigate the complexities of representing clients in such cases?
My journey in the legal profession has been marked by versatility and adaptability. As a young litigator, I embraced the responsibility of handling both civil and criminal matters, as it was expected of me to be well-rounded in my practice. This early exposure to a diverse range of litigation mandates allowed me to develop a comprehensive skill set, enabling me to adeptly represent clients in various legal arenas.
In recent times, the boundaries between civil and criminal proceedings have become less distinct. Commercial transactions can often lead to disputes where parties find themselves embroiled in parallel civil and criminal proceedings. Consequently, my team and I frequently find ourselves representing clients in both civil and criminal matters arising from the same transaction.
Handling criminal proceedings and investigations demands agility and quick thinking. As we strategize, decisions must be made swiftly, always keeping in mind the imperative of minimizing risk exposure for our clients. Though it can be a demanding and sometimes stressful process, the adrenaline rush of navigating criminal cases is truly unmatched.
To successfully navigate the complexities inherent in criminal matters, we place paramount importance on understanding the client’s perspective and the transaction at hand. Formulating a clear strategy, including anticipatory bail or bail applications, becomes essential in such cases. We also ensure that our clients are fully informed of the merits of their case, based on the charges they are facing. Sensitizing clients to the realities of the situation and emphasizing the significance of cooperating with the authorities during investigations are vital aspects of our counsel.
When handling criminal matters for our corporate clients, we understand that certain criminal actions may be initiated as pressure tactics and may not necessarily warrant prosecution. Despite the frustration that may arise during such processes, I guide my clients through effective counter steps and actions to address these proceedings, always prioritizing their liberty and best interests.
Your media and entertainment practice involves dealing with copyright infringements, film rights, and advertising standards. What are some of the key issues and legal nuances that arise in this area, and how do you protect your clients’ interests effectively?
I happen to be acutely aware of the key issues and legal nuances that arise in this dynamic area of practice. Copyright infringement claims pertaining to film scripts, exclusive event photographs, and well-known trademarks, as well as cases involving comparative advertising, are among the prominent challenges faced in the realm of intellectual property. Over the years there has also been an increasing trend in matters concerning alleged copyright infringements at inter-office/corporate musical events.
To effectively protect the interests of our clients, we employ a comprehensive approach that begins with issuing cease and desist notices to parties infringing upon our clients’ IP rights. When necessary, we swiftly initiate appropriate legal actions seeking urgent ad-interim reliefs, which may include seeking injunctions or other forms of emergency relief. In certain cases, we also take recourse to initiating criminal proceedings under the relevant statutes to safeguard our clients’ rights under the trademarks act.
In addition to our vigilant efforts in enforcing IP rights, I provide strategic advice to clients on matters concerning comparative advertisement, ensuring compliance with the Advertising Standards Council of India (ASCI) rules. Keeping abreast of evolving guidelines on misleading advertisement, we counsel our clients on adhering to the most recent regulatory standards to minimize legal risks.
In a world where the media and entertainment landscape is constantly evolving, we pride ourselves on offering tailored legal solutions that safeguard our clients’ creative works, brand identities, and commercial interests.
Throughout your career, you’ve advised clients from various industries and regions. How do you stay updated with the ever-changing legal landscape, especially in the international arena?
As a dedicated legal professional, I recognize the imperative of continuous learning to navigate the ever-changing legal landscape effectively. Staying updated with the latest legal developments, both domestically and internationally, is a top priority in my practice.
To keep abreast of the dynamic legal landscape in India, I diligently monitor any amendments to statutes and the introduction of new legislative regimes. Additionally, I remain vigilant in tracking important judgments in my practice area, discussing them with my team to ensure we stay well-informed.
Furthermore, being aware of the latest trends and practices in various industries where I advise clients is essential. This knowledge enables me to offer well-rounded and strategic legal counsel tailored to their specific needs.
In the international arena, I would be remiss if I didn’t mention the multiple opportunities provided to me by my Partner Mr. Farhad Sorabjee to meet and interact with lawyers across international jurisdictions. I have been blessed to meet legal luminaries across the globe and speak in webinars and conferences on legal trends in these jurisdictions and build strong connections across borders. I also subscribe to newsletters and publications from reputable sources in various jurisdictions to maintain an up-to-date understanding of international legal developments.
As a seasoned practitioner, I firmly believe that continuous reading and learning are indispensable for any successful legal professional. The commitment to being a lifelong student of the law allows me to provide the highest level of legal representation to clients from diverse industries and regions.
Could you share a particularly challenging case you’ve worked on and how you were able to find a successful resolution for your client?
One of the most demanding and distinctive cases in my career involved a representative suit filed against my clients during the challenging period of the Covid-19 pandemic when the Bombay High Court was functioning exclusively in a virtual manner. This case was particularly notable as it was the first matter taken up for final hearing and adjudicated virtually by the Bombay High Court, entailing extensive volumes of pleadings filed online by both parties.
In this matter, two former employees of my client initiated a Representative Suit along with an Interim Application on behalf of 256 ex-employees before the Bombay High Court, seeking a stay on my client’s discontinuation of premium payments for medical insurance coverage. My team and I represented and defended the Company in these proceedings, which presented intricate legal issues involving the grant of mandatory injunctions and the application of promissory estoppel in India. Additionally, the court deliberated at length on the impact of the Covid-19 pandemic on the cessation of premium payments during an extensive online hearing.
The outcome of this complex case proved successful for our client. The Single Judge of the Bombay High Court dismissed the Interim Application, upholding our client’s position, and observing that while Covid-19 had indeed affected both individuals and companies, it could not serve as a ground to bypass the standard legal requirements for the grant of mandatory injunctions.
The ex-employees filed an appeal before the Division Bench of the Bombay High Court, which, too, was subsequently dismissed, affirming the favourable outcome for our client.
The proceedings of this case were marked by the unique experience of filing comprehensive pleadings online and conducting a final hearing of a complex matter virtually. The challenges posed by this novel approach to litigation underscored the adaptability and resilience of my team. Ultimately, the successful resolution of this case stands as a testament to our unwavering commitment to diligently represent our clients’ interests, even in unprecedented and challenging circumstances.
As a seasoned attorney, what are the most valuable lessons you’ve learned from your experiences in the legal profession?
Throughout my extensive journey in the legal profession, I have gained invaluable insights and learned several key lessons that have shaped my approach as an attorney. These lessons can be summarized as follows:
Patience and focus are essential virtues in the legal profession. Rather than seeking immediate results, I have learned the value of staying committed to the long-term goals of my clients, meticulously working towards achieving favourable outcomes.
In the dynamic world of law, learning is a perpetual process. Each case and every interaction with colleagues and mentors provide opportunities for growth and knowledge enrichment. I firmly believe that the willingness to learn and adapt is a hallmark of a successful legal professional.
Throughout my career, I have been fortunate to receive guidance from seasoned mentors. The wisdom imparted, whether through direct teachings or subtle corrections to my work, has left a lasting impact on my approach to legal practice.
Regardless of the nature of a court appearance or meeting, I have learned the importance of thorough preparation. Even when seeking an adjournment, being well-prepared demonstrates professionalism and respect for the judicial process.
As a legal practitioner, my primary duty is to my clients. I have learned to provide them with candid and honest assessments of their cases, ensuring that they have a realistic understanding of their situation and the potential outcomes. This approach fosters trust and enables clients to make informed decisions.
Considering your extensive experience and expertise, what advice would you like to give to fresh law graduates who are just starting their legal careers?
To the aspiring young law graduates embarking on their legal careers, I offer the following advice, drawing upon my own experiences in the field:
In the pursuit of a career in litigation, it is crucial to develop a strong foundation by learning the fundamentals of litigation practice. Familiarize yourself with the process of filing a matter, addressing office objections, and understanding court procedures. Embrace the basics, as they form the bedrock of your growth as a litigator.
Spend time in court observing experienced counsel argue their cases. Take note of the principles of law they cite, their approach to presenting arguments, and how they handle interactions with the judges. Observing seasoned practitioners will provide invaluable insights into the intricacies of court craft.
Entering the legal profession may seem overwhelming at first, as the practical aspects of litigation can differ from the theoretical knowledge imparted in law school. Be patient and recognize that success in this field requires perseverance and dedication. Embrace the learning curve, and with hard work and sincerity, you will gradually find your footing.
As you gain experience, strive to develop a holistic approach to litigation. Understand that legal practice is not solely about arguing cases but also encompasses diligent research, drafting persuasive pleadings, and mastering the art of negotiation and settlement.
Uphold the highest standards of professionalism and ethical conduct in all your interactions. Building a reputation for integrity and professionalism is essential for establishing a successful legal career.
The legal profession is ever evolving, with new laws and precedents shaping the landscape. Therefore, commit to lifelong learning and stay updated with legal developments to provide the best possible representation to your clients.
Can you tell us a bit about your journey and how you ended up pursuing a career in law, particularly specializing in taxation and related areas?
I was born and raised in a family with a deep-rooted background in law and taxation. From a very young age, I was exposed to discussions about legal matters and the intricacies of tax law (though am not claiming that I particularly followed everything!). My father and some close relatives were established tax specialists, and their passion for their work naturally influenced my interests as I grew older.
As I progressed through my education, I found myself naturally gravitating towards subjects that aligned with the legal and financial world. I was particularly drawn to the complexities of taxation and how it played a vital role in shaping economies and businesses. I realized that taxation was not just about numbers and calculations; it was a dynamic field with constantly evolving laws and regulations that had significant implications on individuals and organizations alike.
After completing my legal education and obtaining the necessary qualifications, I ventured into the field of tax law, ready to take on the challenges that came with it. Over the years, I have had the privilege of assisting numerous clients with tax planning, tax controversy matters, and cross border taxation, among other areas.
My journey in the field of law, particularly specializing in taxation, has been incredibly rewarding. I continue to be fascinated by the ever-changing tax landscape and remain dedicated to helping individuals and businesses navigate the complexities of tax law to achieve their financial goals while ensuring compliance with all relevant regulations.
As I look back on my path, I feel grateful for the strong foundation laid by my family’s background in law and taxation, as it has shaped me into the professional I am today—one who is deeply committed to making a positive difference in the lives of those I serve.
With almost 18 years of experience in tax law, could you share some pivotal moments or experiences that shaped your expertise and passion for this field?
Over the course of my 18-year journey in tax law, I have encountered numerous pivotal moments & experiences that have profoundly helped my passion inch northwards for this field. Some of these moments include:
1. Early Mentorship: Right from the guidance of my father in early stages of my career as well as in the early years of my career and support and push of my first few mentors at BMR Advisors (all seasoned tax attorney/ specialists) the expertise and passion were always enlarging. Their guidance, wisdom, and willingness to share their knowledge played a crucial role in my development as a tax professional. Witnessing their dedication to their clients and their mastery of complex tax matters inspired me to strive for excellence in my own practice.
2. Challenging Tax Cases: Throughout my career, I encountered several highly complex and challenging tax cases that required innovative solutions. These cases pushed me to expand my knowledge, research skills, and critical thinking abilities. Successfully resolving these intricate tax issues gave me a sense of accomplishment and reinforced my passion for tax law.
3. Staying Current with Tax Law Changes: Tax law is a constantly evolving landscape, with frequent changes to regulations and tax codes. Staying up-to-date with these developments has been a significant challenge, but it is also crucial for providing accurate and effective advice to clients. My commitment to ongoing education and continuous learning has been instrumental in maintaining my expertise in this dynamic field.
4. Cross-Border Taxation: As businesses increasingly operate on a global scale, cross-border taxation has become my prominent area of focus. Handling these matters exposed me to the complexities of dealing with multiple jurisdictions, trade agreements and varying compliance requirements. These experiences broadened my perspective and enriched my understanding of the global tax landscape.
5. Advocacy and Tax Reform: Throughout my career, I have been involved in advocating for changes in tax laws and regulations to benefit taxpayers and improve fairness in the system. Engaging in discussions with policymakers, participating in tax reform initiatives, and contributing to public discourse on tax-related matters allowed me to see the potential impact of legal professionals in shaping tax policy.
6. Sharing Knowledge: As my career advanced, I found joy in sharing my expertise with aspiring tax professionals and clients alike. Conducting seminars, writing articles, and participating in panel discussions not only helped disseminate knowledge but also encouraged me to continuously refine my understanding of tax law.
Each of these pivotal moments and experiences has contributed to my passion for tax law and my commitment to provide top-notch legal counsel to my clients. The ever-changing and intellectually stimulating nature of this field, combined with the ability to make a tangible difference in the lives of individuals and businesses, continues to fuel my enthusiasm for the work I do as a tax attorney.
As a Tax Partner at Economic Laws Practice, you focus on GST, customs & trade, providing strategic transaction advisory and policy counsel. Could you shed some light on the scope and significance of these areas in the business landscape?
ELP first of all has been blessing, more of a home coming I would say! A lawyer at a law firm, my first!. Businesses as well as economy are all fueled by tax and trade policies. Navigating the complexities of these areas is vital for businesses to ensure tax efficiency, regulatory compliance, and a competitive edge in the global market. As a Tax Partner at Economic Laws Practice, my role involves assisting businesses in harnessing the opportunities and overcoming the challenges presented by these dynamic aspects of the Indian economy.
You’ve advised multinational and domestic companies on tax-efficient value chains in business. What are some key principles or strategies businesses should keep in mind when aiming for tax efficiency?
When aiming for tax efficiency in their value chains, businesses should consider several key principles and strategies to optimize their tax positions while remaining compliant with applicable tax laws. Some important principles and strategies to keep in mind include (i) Proper Entity Structure; (ii) Interplay of Customs and Transfer Pricing Compliances; (iii) Tax Treaty & Trade Agreement Utilization; (iv) Location of Intellectual Property; (v) Business Object Mapping, the most Optimum structure may not work for all businesses in view of its objectives!; (vi) Use of Tax Incentives and Exemptions; (vii) Serious credits to documentation; (viii) Flexibility for ever changing policy landscape; etc
Also, such assignments would often involve engaging with experienced advisors & consultants on different subject matters as well as jurisdictions. The learning from these experiences can always prove to be valuable.
For any budding lawyer, it is important to note that while pursuing tax efficiency is a legitimate business goal, businesses must ensure that their tax strategies comply with the law and are not driven solely by aggressive tax avoidance practices, which may be subject to scrutiny and potential legal consequences. Striking the right balance between tax efficiency and compliance is crucial for the long-term success and reputation of any business.
Indirect tax legislations can be complex and vary across different industries. What are some common challenges you encounter while advising clients, and how do you overcome them?
Advising clients on indirect or other tax legislations presents challenges due to complexities and variations across industries. Common hurdles include interpreting ambiguous laws, staying updated with changing tax regulations, addressing cross-border transactions, and managing compliance burdens. Overcoming these challenges involves continuous research, industry-specific expertise, collaboration with subject matter experts, cautious interpretation of laws, and developing cost-effective solutions. Communication with non-tax professionals aids in ensuring client understanding. Additionally, creating robust compliance frameworks, automating processes, and representing clients in disputes or litigation contribute to providing effective advisory services.
Tax litigations can be high-profile and challenging. How do you approach such cases, and what advice would you give to companies facing potential tax disputes?
Approaching high-profile tax litigations requires a thorough understanding of the specific tax laws, industry intricacies, and potential implications. My strategy involves conducting in-depth research, consulting past precedents, and collaborating with experts to build a strong case. For companies facing potential tax disputes, my advice is to stay proactive by maintaining meticulous records, complying with regulations, and seeking professional advice early on. Engaging experienced tax attorneys is crucial to navigate the complex legal landscape effectively. Open communication with tax authorities, willingness to resolve disputes amicably, and a focus on compliance can help mitigate risks and achieve favorable outcomes.
As a part of Business World’s elite 40 Under 40 Club of Young Law Achievers and being recognized by The Legal 500 Asia-Pacific, what personal qualities or professional attributes do you believe have contributed to your success in the legal field?
As a member of Business World’s distinguished 40 Under 40 Club of Young Law Achievers and having earned recognition from The Legal 500 Asia-Pacific, my success in the legal field can be attributed to several personal qualities and professional attributes. Continuous learning, a proactive approach in gathering facts to build strong business acumen, effective problem-solving skills, and a commitment to innovation are some of the key factors that have contributed to my achievements. Moreover, maintaining personal integrity and cultivating professional networks and relationships have played pivotal roles in fostering credibility and growth.
Additionally, I must acknowledge the invaluable support and contribution of my exceptional team & mentors, whose dedication and professionalism have been crucial to my personal success. Their commitment to excellence during business hours and camaraderie during social gatherings have been truly inspiring and rewarding.
Needless to add that by embodying these personal qualities and professional attributes, I have been able to make a positive impact in the legal field, earn recognition from industry peers, and achieve success in my career as a tax specialist.
Apart from your legal career, you also engage in speaking at tax & regulatory conventions and write articles for leading publications. How do these activities complement your professional work, and what drives you to share your knowledge in this way?
Engaging in speaking at tax and regulatory conventions and writing articles for leading publications complements my legal career by allowing me to share my knowledge and insights with a broader audience. These activities serve as platforms to disseminate complex legal concepts in a more accessible manner, contributing to the professional development of peers, clients, and the wider community. The drive to share knowledge stems from a passion for empowering others with valuable information, fostering a culture of continuous learning, and making a positive impact in the legal and business domains. It also reinforces my commitment to staying at the forefront of industry trends and best practices.
Many fresh law graduates aspire to have a successful career like yours. What advice would you give to them as they begin their journey into the legal profession, particularly those interested in taxation and related fields?
Certain non-negotiable attributes for any aspiring lawyer include a strong focus on continuous learning, an earnest pursuit of mentorship, a willingness to embrace technological advancements, the development of impeccable communication skills, an unwavering work ethic, perseverance in navigating challenging circumstances, and a receptive attitude towards exploring diverse opportunities. These foundational qualities form the bedrock for a successful and rewarding career in the legal profession, enabling growth, adaptability, and the ability to excel in an ever-evolving legal landscape.
Can you share with us your journey and how you ended up pursuing a career in law? What inspired you to choose this path?
After completing School, I chose to appear for CS and CA foundation exams. Since CS foundation results are released before CA foundation results, I qualified and got through CS, although I had appeared for CA foundation also and passed both of them. While studying for CS exams, I got keenly interested in law as a subject. My curiosity for law increased and I would often find myself dedicating hours to reading law books and cases. I found it extremely interesting and intellectually fulfilling and fell in love with law. After completion of CS, I enrolled myself for LLB with Delhi University. I am a first-generation lawyer in my family and I thank my stars to have landed in a profession that I like.
With over 18 years of experience in corporate and commercial law, you must have encountered various challenges and rewarding moments. Can you share one of your most memorable cases or experiences in your legal career so far?
Quoting a single example from work is difficult as there have been many instances which were challenging in the beginning and rewarding when I got done with them.One of the most profoundly rewarding experiences in my career was setting up Alpha Partners in 2012. As a first-generation lawyer, my passion for creating something extraordinary from scratch fuelled my drive. However, it also presented an immense challenge—bootstrapping a startup law firm. From its inception until our merger with Fox & Mandal, I continuously grappled with the hurdle of elevating the firm to the next level, hiring talent, and enhancing practice verticals in the firm with new partners. For first-generation lawyers like me, to scale law firms to the next level without any avenues to raise finances to fund talent acquisition has been the biggest challenge.
As the Partner and Head of the Corporate Practice at Fox & Mandal, Delhi, you lead a team of more than 10 lawyers. What strategies do you employ to foster a collaborative and productive work environment within your team?
Fostering a collaborative and productive work environment is important for keeping the teams motivated, interested and invested in their work, take ownership of the work and contribute positively to the firm. Few basic tenets like effective communication, clear goals, trust and collaboration, rewarding and recognising good work, encouraging learning and performance evaluation are most important and should be kept in mind by any team leader.
In order to instill the above in young associates, I follow Dr. House’s methods. Every assignment or transaction is discussed threadbare with the full team working on it in a 1-2 hour session so that no aspect is left out to be discussed. Such sessions are not a monologue by me but everyone is supposed to give their inputs and ask questions. Sometimes, these sessions happen in two sittings if something has to be researched and then discussed. At the end of the session, each member of the team is given a particular aspect of the assignment to complete but the team is supposed to coordinate amongst themselves and not work in silos, such as drafting is done by someone, research by others, compliances by third etc. Each one is also given a deadline also. The Senior Associate involved in the assignment is supposed to supervise and check on the work so that it is done in a timely manner. Once this delegation is over, I step aside and let the team work on the assignment. Thereafter before the deadline, an update meeting is done and questions if any are answered. Final review of the deliverables is done in a joint meeting of the team.
I am of the firm view that delegation is extremely important to make a strong team of good corporate lawyers. If the lawyers are not given room, they will never grow professionally and that will affect the overall efficiency and performance of the firm. It also enables them to work as a team and collaborate with each other rather than against each other. I also make sure that in every assignment, the roles of the team members are reversed so that no monotony sets in and each lawyer is getting trained in each aspect.
Your areas of expertise include private equity, venture capital, M&A, joint ventures, and more. Could you highlight a particularly complex or intricate deal you’ve been involved in and explain how you navigated its challenges?
There are many such instances where deals were particularly complicated and required structuring to achieve efficiency and commercial feasibility. Typically exits become complicated, especially when it is a strategic buyout of the company through which exit is being given to investors. A lot of interests need to be balanced. Once such deal involved around 20 institutional and individual investors who were getting shares in the acquirer’s entity and the investors were sitting in an externalised holdco structure. In other M&A transactions, exits or JVs that I have handled, more than legal issues, it is the balancing of the interests of various stakeholders which requires delicate handling. Also, in case of cross border joint ventures, it is extremely important to understand cultural differences and business practices of the partners who are coming together to form the joint venture as most issues arise because things are handled differently by people from different countries and neither one is incorrect.
You have extensive experience in assisting multinational companies doing business in India and the UAE/MENA region. What are some unique legal considerations or cultural aspects that companies need to be mindful of when operating in these diverse jurisdictions?
UAE is an extremely interesting jurisdiction. I have been working closely with UAE firms and clients and the experience has been extremely enriching. UAE is not very different from India culturally because of the historic cultural and business ties as well as the fact that both the jurisdictions have been influenced by the British common law system. UAE has modernised itself in its systems, processes and government dealings and there is a huge emphasis on use of technology in every aspect of governance and in general life. UAE is welcoming investors both at entity and individual level and has all necessary elements of a modern and business friendly country with congenial living standards.
In your experience, what are the key factors that contribute to a successful commercial transaction or project? How do you ensure that all parties involved are aligned and satisfied with the outcomes?
As a lawyer, it is my job to protect my client’s interest to the best possible extent and so are the counsels of the other side. I believe that if all parties involved are adequately represented by lawyers, the alignment and balancing is more or less achieved. It is imperative for all types of clients to be adequately represented in this present day and age when contracts and compliances are getting more complicated and intricate. Corporate lawyers are not merely “punctuation correctors” but play an extremely important and strategic role in transactions and ensuring that clients are legally compliant, which collectively contributes to better corporate discipline, governance and makes our government’s job easier to govern.
With a background in advising clients across various sectors, such as healthcare, hospitality, e-commerce, and technology, how do you stay up-to-date with the latest industry trends and legal developments that may impact your clients?
Read, read and read more. There is no replacement for reading for lawyers and there is no other secret sauce. If in today’s time and age someone says that “I didn’t know” about something, that means she/he has not made an effort to read about it because information is freely available everywhere and you cannot have an excuse that something was not out there.
Other than reading, one should also be connected with relevant stakeholders, in-house lawyers, chartered accountants, CS’s and more importantly lawyers from other law firms and keep exchanging ideas, information and must have discussions on legal issues. In fact, I believe that corporate lawyers should make legal discussions part of their social lives so that nothing is missed out. Information monopolies have been broken down by the internet and now is the era of sharing more and more information rather than keeping it with oneself.
Throughout your career, you’ve been involved in assisting government organizations with real estate and infrastructure projects. What are some of the challenges and rewards that come with working on projects of such scale and importance?
Working on government projects presents unique challenges and rewards. While the commercial compensation for lawyers may sometimes be limited and/or delayed, the experience is truly exhilarating.
Typically the real estate and infrastructure projects that we have undertaken are large scale projects involving multiple legal, commercial and strategic issues. The tussle between remaining fair and just which is a requirement for government instrumentalities and at the same time ensure that the projects are commercially successful for them is something which needs intricate balancing. Also, the commercial expectations of the government from a particular project needs to be balanced against market realities.
As a prominent figure in the legal industry, you were recognized in the Forbes Legal Powerlist as one of the top 100 individual lawyers in 2022. What does this recognition mean to you, and how do you continue to strive for excellence in your profession?
Any recognition is a validation for one’s hard work and receiving such accolades is humbling. At the same time, I guess every day is a new day of learning and one should endeavour that each day is better than the previous one.
Considering your diverse background in law and business, what advice would you give to fresh law graduates who are just starting their legal careers? What skills or qualities do you believe are essential for success in today’s legal landscape?
I have few tips which may be relevant for fresh graduates:
It’s not a job, it’s a profession. So treat it likewise and train yourself for that;
Read, read and read. If reading makes you tired, you are in the wrong place;
Have a problem solving attitude. Not creating, not fixing, but solving a problem is what is required.
Go for post-graduation only when you have identified a particular area or areas of law in which you are confident you can work for long term;
Do not depend on anyone else’s version of research, not articles, blogs, not even chatGPT. Find your own answers to a problem and don’t stop till you do or understand it entirely. Read, discuss, read, repeat.
Be very clear about how much money you want from your employer/firm. There is no market standard and your peers or consultants don’t decide what you get, you do. Remember, working for less is more important than asking more and not working.
Become a generalist but grab one area of expertise or industry or niche practice area and try becoming best in that. Prioritise this over money or any other alternate career options.
Don’t take it too seriously if things don’t work out. Its OK not to be the best.
Finally, looking back on your journey and achievements, is there any specific piece of advice or life lesson that has had a profound impact on you, personally or professionally, that you’d like to share with our audience?
Someone once told me “Be sincere, not serious’ ‘. I guess that was the most useful advice I got which I have used in my life.
Sir, please you tell us about your journey and how you ended up practicing law, specifically in the field of Corporate & Commercial, Private Equity & Venture Capital?
Before deciding to specialize in of corporate and commercial law, I embarked on a journey that involved several internships and experiences in various legal fields. These experiences allowed me to explore different areas of law and gain valuable insights into the legal profession. As I progressed through my studies, I continued to seek internships that aligned with my evolving interests. By my fourth year, I had gained substantial exposure to corporate law through internships in law firms specializing in corporate and commercial matters. These experiences allowed me to work closely with experienced lawyers and professionals in the field, exposing me to the intricacies of corporate transactions. Throughout these internships, I found myself captivated by the fast-paced and dynamic nature of Corporate & Commercial law. I was drawn to the complex challenges and strategic considerations involved in advising businesses and facilitating transactions. The opportunity to work closely with brilliant seniors who advised entrepreneurs and established companies in their pursuit of growth and success appealed to me greatly.
You have worked on various corporate and commercial transactional matters across sectors such as healthcare, media, and fintech. Can you share some notable experiences or cases that have shaped your expertise in these areas?
Throughout my career, I have had the privilege of working on a diverse range of corporate and commercial transactional matters across sectors such as healthcare, media, and fintech. Each transaction has presented unique challenges and opportunities, and I have gained valuable expertise through these experiences.
One notable experience that comes to mind is a healthcare transaction where I represented a medical technology company in its acquisition of a smaller healthcare startup. This transaction involved intricate negotiations, due diligence, and regulatory considerations. It was a complex process that required a deep understanding of the healthcare industry, as well as expertise in drafting and negotiating the acquisition agreement. During this transaction, I had the opportunity to work closely with both the acquiring company and the startup. I had to balance the interests of my client, who sought to expand its product portfolio, with the concerns and objectives of the startup’s founders. Through careful negotiation and creative problem-solving, we were able to structure a deal that satisfied both parties and facilitated a successful acquisition.
In the fintech sector, I had the opportunity to work on a venture capital investment deal for a promising startup that aimed to revolutionize payment processing. This transaction involved multiple rounds of funding, negotiations with venture capital firms, and extensive due diligence. It was crucial to ensure compliance with regulatory requirements and address investor concerns while protecting the interests of the startup. Throughout this transaction, I learned the importance of meticulous due diligence and effective communication among all parties involved. By thoroughly analyzing the legal and financial aspects of the startup, we were able to identify potential risks and develop strategies to mitigate them. The end result was a successful investment deal that provided the startup with the necessary funds for growth and the investors with an opportunity for significant returns.
These notable experiences, along with numerous other transactions, have shaped my expertise in corporate and commercial law. Each transaction has been a learning experience, allowing me to develop a deep understanding of the sectors I work in and refine my negotiation and problem-solving skills. My approach has always been solution-oriented, aiming to find mutually beneficial outcomes for both sides of the parties involved, while ensuring legal compliance and protecting my client’s interests.
Your work includes advising Fortune 500 companies on corporate and commercial transactions. What are some of the key challenges or considerations when dealing with domestic and cross-border collaborations in India?
When dealing with domestic and cross-border collaborations in India, there are several key challenges and considerations that arise. These challenges stem from the unique legal, regulatory, cultural, and business landscape in India. India has a complex regulatory framework, and it is crucial to navigate various laws, regulations, and policies to ensure compliance. Key areas of consideration include foreign exchange regulations, company law, taxation and sector-specific regulations. Understanding and adhering to these regulations is vital for a successful collaboration.
How has being featured in ALB India Rising Stars 2023 impacted your career and professional growth?
On a personal level, being featured in this distinguished list has provided validation and motivation. It is a testament to the hard work, dedication, and passion I have invested in my legal career and the faith that the organization (ELP) has on me. The recognition has reinforced my belief in my abilities and has inspired me to continue striving for excellence and making significant contributions to the legal profession.
In your experience, what are some of the key factors that contribute to a successful joint venture or strategic alliance between companies, both domestically and internationally?
As a general thumb rule – a successful joint venture or strategic alliance between companies (domestically or internationally) require the parties to have a shared understanding of their objectives and a clear vision for the partnership. This includes identifying the specific goals, synergies, and benefits that each party expects to achieve. Ensuring alignment at the outset minimizes potential conflicts and sets the stage for a successful collaboration. Once the objectives are clear, establishing a robust governance framework is crucial for effective decision-making and conflict resolution. Clearly defining the decision-making process, roles, and responsibilities of each party ensures efficient management of the joint venture or alliance. Finally, tailoring the agreement based on the above is crucial to avoid ambiguity and potential conflicts.
As a lawyer practicing in the corporate and commercial sector, what are some common legal challenges or issues that businesses face when entering the Indian market?
Key areas of consideration that generally need to analyze are foreign exchange regulations, company law, taxation and sector-specific regulations. Understanding and adhering to these regulations is vital for a successful collaboration. However – despite these areas of consideration, India presents numerous opportunities for businesses looking to invest and expand. With its large consumer base, emerging sectors, and government initiatives, India continues to attract companies seeking growth. By addressing these legal challenges and working closely with legal professionals who are well-versed in Indian laws and regulations, businesses can navigate the Indian market successfully and unlock its vast potential.
Lastly, based on your experience and expertise, what advice would you give to fresh law graduates who are aspiring to build a successful career in the field of corporate and commercial law, particularly in India?
If I must chronologically respond to the above Seek Mentorship:
• Find mentors who have excelled in the field of corporate and commercial law. Their guidance, support, and insights can be invaluable in navigating your career path, understanding industry nuances, and making informed decisions. Learn the good, ignore the rest. Remember, the legal fraternity is very small – people will always remember how you are to others.
• Cultivate Professionalism and Ethical Standards: Upholding professionalism and ethical standards is essential for a successful legal career. Maintain integrity and develop effective communication and interpersonal skills to establish trust and build strong professional relationships.
• Gain Practical Experience: Seek out internships and practical experiences in law firms, corporate legal departments, or relevant organizations. Practical exposure will provide you with invaluable insights into the field, help you understand the real-world application of legal principles, and develop essential skills .Specialize and Continuously Learn: Corporate and commercial law is a vast and dynamic field. Consider specializing in specific areas such as mergers and acquisitions, contracts, intellectual property, or securities law. Continuously update your knowledge and stay informed about changes in laws, regulations, and industry practices through seminars, workshops, professional development programs, and legal publications.
• Develop Business Acumen: Understanding the business context is crucial for corporate and commercial lawyers. Gain a solid understanding of business fundamentals, financial statements, market trends, and industry-specific knowledge. This knowledge will enable you to provide practical and commercially viable legal advice to clients and contribute to their overall business objectives.
• Develop Strong Legal Research and Drafting Skills: Corporate and commercial law requires excellent research and drafting skills. Practice conducting thorough legal research, analyzing case law, and applying legal principles to complex situations. Hone your drafting skills by preparing well-structured and concise legal documents, contracts, and agreements.
• Embrace Technology and Innovation: The legal industry is evolving, and technology is playing an increasingly significant role. Familiarize yourself with legal tech tools, research databases, document management systems, and other technology solutions that can streamline legal processes and enhance efficiency. Embracing technology and innovation will make you a valuable asset in the evolving legal landscape.
• Be Resilient and Adapt to Change: The legal profession can be demanding and challenging. Cultivate resilience, the ability to adapt to change, and a growth mindset. Embrace new challenges, learn from setbacks, and continuously seek opportunities to expand your knowledge and skills.
Remember, building a successful career takes time and dedication. Be patient, embrace opportunities for growth, and stay passionate about your chosen field. With perseverance, continuous learning, and a proactive approach, you can forge a rewarding and successful career in corporate and commercial law in India.
