Law firm Khaitan & Co has promoted five associate partners to equity partnership level, becoming the first Indian law firm to reach 100-partner mark, the company said on Tuesday. This means nearly one in three of its lawyers are partners.
Companies which take the service of law firms do like to deal with senior lawyers and particularly want to consult partner level executives.
While Ashish Razdan, Kumar Saurabh Singh and Niren Patel have been promoted as partners at the Mumbai office, the law firm promoted Joyjyoti Misra and Sushmit Pushkar as partners at the New Delhi office.
Razdan, Patel and Misra specialise in corporate law while Singh and Pushkar focus on banking and finance and dispute resolution, respectively.
This year, it has not added any new lateral partners (hiring from outside) and most of the partners are either home-grown or have spent substantial number of years at the firm, it said in the statement.
"The firm continues to believe that client satisfaction and quality are paramount, which cannot be achieved without significantly low partner-to-associate leverage ratio," it said.
The law firm has also promoted 17 senior associates to associate partner level. While 10 associate partners will be based in Mumbai office, seven will be based in New Delhi office.
Abhay Sharma, Abhishek Sinham Akhil Bhatnagar, Anuj Sah, Anshul Prakash, Gahan Singh, Madhur Kohli, Mayank Singh, Surbhi Kejriwal and Yigel Gabriel are based in Mumbai; Harsh Walia, Rajat Jariwal and Rajiv Bhatnagar in New Delhi, and Rashmi Deshpande, Sharad Moudgal, Vinay Joy and Vineet Shingal are in Bangalore office.
Khaitan & Co offers legal solutions to clients in India and abroad. The firm has over 350 lawyers across its offices in Mumbai, Delhi, Kolkata and Bangalore.
In November, it inducted Abhimanyu Bhattacharya as a partner in the capital markets practice at the Mumbai office, and also promoted Iqbal Khan as associate partner in the M&A and private equity practice at its Mumbai office.
(Edited by Joby Puthuparampil Johnson)