Cyril Shroff-led law firm Cyril Amarchand Mangaldas has elevated 21 lawyers as partners, it said in a statement.
With this, it has become the second law firm in the country to cross the 100-partner mark after Khaitan & Co.
âIt gives us immense pleasure in the 100th year (of the firm), to ride the wave of growth and prepare for significant future opportunities,â said Cyril Shroff, managing partner, Cyril Amarchand Mangaldas.
âWe are delighted to welcome our new partners. Building upon our organic growth model, their experience, skills, sectoral knowledge and exposure to a variety of practices add value to the firm, strengthening our leadership position,â he said.
The 21 lawyers will become partners with effect from 1 April 2017 in six offices across the country.
The list includes Manita Doshi (Ahmadabad), Rohit Vashist (New Delhi) and Sundaresh Maheshwari (Bengaluru) as well as Manu Varghese, Pranay Chandran, Rishi Gautam and Saurya Bhattacharya (Mumbai) in the firmâs general corporate practice.
While firmâs capital market practice has seen elevation of three lawyers including Abhinav Kumar (Mumbai) as well as Reuben Chacko and Vijay Partnasarathi (Benguluru), two lawyers in dispute resolutionâAditya Mehta (Mumbai) and Biswajeet Dubey (New Delhi) and one in pharmaceutical and life sciences practiceâAshwin Sapra (New Delhi)âhave been elevated as partners.
The firm has also promoted five advocates in its project teamâAtman Desai, Ruchira Shroff and Subhojit Sadhu (Mumbai) as well as Spandan Biswal and Uday Khare (New Delhi). Its real estate practice has seen the elevation of three lawyersâAbhilash Pillai and Ashish Jain (New Delhi) and Mridul Kumbalath (Bengaluru).
Now, the partner-associate ratio at Cyril Amarchand Mangaldas is around 1:5. âThe firm adopted a multilevel and rigorous screening process culminating in interviews with a panel of partners,â the firm said.
According to Bithika Anand, founder and CEO of management advisory firm Legal League Consulting, the latest appointments at Cyril Amarchand Mangaldas are strategic in nature and will strengthen the firmâs position as the market leader. âCrossing the 100-partner mark is a good way to celebrate the completion of 100 years for the firm,â said Anand.
Many law firms have been expanding operations at a time when spending by corporate houses on legal and regulatory issues has been rising. Legal and professional costs for Indian publicly-listed companies rose 7.3% to Rs 25,593 crore in FY2015-16 from a year earlier, according to a VCCircle study.
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