Law firm Cyril Amarchand Mangaldas has appointed Richa Roy as a partner for its Insolvency and Bankruptcy Code and Policy practice, it said in a statement on Wednesday.
Roy’s appointment is expected to help the law firm strengthen its bankruptcy practice as well as seek out new clients, Cyril Shroff, managing partner at the firm, said.
Roy previously worked at AZB & Partners as a senior associate and also served as the group head of the international banking legal team at ICICI Bank. She also helped draft insolvency provisions of the Insolvency and Bankruptcy Code, 2016 and the Corporate Insolvency Resolution Process Regulations. Besides, she has served on the financial reform committees of institutions such as the Reserve Bank of India as well the Ministry of Corporate Affairs.
This hire comes just over a year after Cyril Amarchand Mangaldas recruited UK Sinha, the former chairman of markets regulator the Securities and Exchange Board of India, as a senior adviser to its corporate governance think tank, the Corporate Governance Centre (CGC).
Cyril Amarchand Mangaldas, which is over 100 years old, is a full-service firm with over 700 lawyers including 120 partners. It has offices across all major cities in India and has advised several organisations, governmental bodies and regulatory committees.
Last year, the firm came under scrutiny by central agencies after investigators seized documents related to the nearly $2-billion fraud at Punjab National Bank from one of its offices.
People familiar with the investigation had said that the law firm possessed documents detailing diamond jeweller Nirav Modi’s dealings with PNB, even though the firm wasn’t representing the diamond magnate or his companies. “CAM was not their attorney in the PNB fraud case, 100 percent sure that’s why they could not cite attorney-client privilege,” prosecution lawyer in the case K Raghavacharyulu had said. The firm had declined to comment on the possibility of being charged or being named as a witness in the probe.