After large law firms like Cyril Amarchand Mangaldas and Khaitan & Co, boutique law firm Phoenix Legal has also elevated four of its lawyers to partners. Following this, the firm will have 70 lawyers and 15 partners.
The new partners include: Aditya Bhargava, who is part of the banking and finance advisory team; Debashri Dutta from dispute and litigation advisory; Pranav Srivastava from the transactions team; and Ritika Ganju of M&A advisory. Bhargava is based out of Mumbai while the rest are in Delhi.
Sawant Singh, co-founding partner, Phoenix Legal, said: “This will strengthen our partner-led client service model and enhance the ability to service clients from diverse sectors across different practice areas."
Founded in 2008, Phoenix Legal has grown rapidly, both organically and through acquisitions. In March, Aseem Chawla, founder and managing partner of ASC Legal, merged his boutique tax law firm with Phoenix Legal.
Phoenix has three offices in the country, in New Delhi, Mumbai and Chennai.
Recently, Khaitan & Co, one of the country's oldest law firms, had promoted around two dozen lawyers as partners, following which it has 496 fee-earners in total. Just a couple of days before that, Cyril Shroff-promoted Cyril Amarchand Mangaldas had elevated around 21 lawyers as partners, in the process becoming the second Indian law firm to cross the 100-partner mark.
“Many mid-sized law firms are ramping up practice areas where they have already made a mark rather than develop new practices,” said a legal consultant on the condition of anonymity. “In near future, we will see a trend of consolidation among mid-sized law firms, especially those with less than 100 fee-earners,” he added.
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