Narayan (pictured) would leave Amarchand’s Delhi office on 15 October, confirmed the Delhi region’s managing partner Shardul Shroff.
“Himanshu wants to leave and rejoin Dua Associates,” explained Shroff, adding: “I am told that Swaran, his dear wife, is now a partner there.”
“He sees a role in rebuilding that firm and an M&A practice there,” said Shroff. “We wish him well.”
Narayan declined to comment when contacted.
His practice focuses on corporate, M&A and private equity work. He had joined in Amarchand in March 2006 from Dua Associates, having graduated from NLSIU Bangalore in 1995.
In August 2008 Narayan was one of five partners elevated onto Amarchand’s new partial lockstep system, alongside corporate partner Ashwath Rau, banking partners Gunjan Shah and Leena Chacko and projects partner Jatin Aneja.
Shroff told Legally India that the firm would not have to re-examine its equity system following Narayan’s departure: “A single equity partner leaving does not cause the modified lockstep to be changed or revaluated.
Amarchand’s Delhi offices is celebrating its 30th year of operations this year.
Dua Associates partner and spokesperson Balinder Singh said today that the firm would not comment on “speculation” while the firm’s managing partner Ranji Dua did not respond to emails or calls seeking comment.
At the beginning of this year Dua Associates lost 50 lawyers including nine partners, who started up Tatva Legal. At the same time Dua Associates also opened a Singapore office, which according to the firm’s website now has an office on Robinson Road in the ASO Building.
Six months later Tatva hired Dua Associates’ Mumbai partner Mahernosh Humranwala, leaving Dua with one partner in the office.
Dua Associates told Legally India in June that it had hired around 20 professionals and three lateral partners since January, although the firm declined to confirm the names of the new partners.
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All the best Himanshu.
His departure is clearly a big loss for the AM Delhi office and reveals a worrying continued inability to retain lateral partners of independent standing in the market. Save for the one well known (and well respected) Delhi based equity partner, AM Delhi has not managed to attract and keep lateral partners who have a following in the market. Something needs fixing for sure!
Amarchand lost its biggest hitter in corporate practice in 2006. Since then Himanshu had been the only partner in corporate (after Kalpataru moved on) who was respected. Who else moved in laterally into corporate and has equity?
[Indeed - just wanted to communicate briefly with a commenter. Will try to keep you posted. -Kian]
[Just another firm that has seen some attrition recently. In such cases we don't generally print the name of the firm or other information until details are confirmed. -Kian]
His departure begs the question - Why is he leaving? Is there something that Amarchand could have done to retain him or was his departure imminent once his wife left almost a year ago and then imminent again when she joined Dua as a partner 2 months ago? What also deserves some consideration is, why did he leave Dua the last time? Something seems to suggest that he may have left Dua since his wife was one of his direct reports and perhaps Ranji Dua, who is a stickler for professionalism, wanted him to change that ? Did his wife leave Amarchand also because she was his direct report??? Also, does anyone know if Himanshu's best friend, Piyush Joshi, is also joining Dua, which he had set out to do when he resigned from Amarchand ?
Maybe he's fed up with the system; maybe he thinks moving will help; maybe he's right.
I think you are the one who needs to chill.
His coming back into Dua fold is certainly a good news for Dua. Dua definitely needed someone of Himanshu's mettle to handle their M & A practice. Although, Munish Sharma has rejoined Dua as a partner about 10 months back which in itself was a good sign.
End of the day, one has to recognise the fact that although Amarchand could be one of the top law firms in India with best packages, it is still a long way in establishing itself as a humane organisation vis-a-vis work-life balance. Dua for that matter is more chilled out and has a great working atmosphere!
Cheers!
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