Delhi-headquartered firm Singhania & Partners has entered into an agreement to merge with Mumbai’s Rajani & Partners last week, to become a firm of 100 lawyers and 20 partners.
The new firm will be called Rajani, Singhania & Partners and will have Prem Rajani and Ravi Singhania as joint managing partners based in Mumbai and Delhi respectively.
Rajani consists of around 40 lawyers and 10 partners in Mumbai, with Singhania having around 60 lawyers, of whom the majority is based in Delhi, with smaller offices in Bangalore and Hyderabad. Singhania’s Mumbai office of four lawyers will join Rajani’s office, which will seek a larger space going forward.
Ravi Singhania said: “Our practices are complementary – we are good in dispute resolution, we have been working well in the project finance area for international clients.”
Rajani partner Sangeeta Lakhi added that Rajani has traditionally had strength in capital markets, having close its hundredth capital markets transaction recently, though since the market has slowed the firm has also been building up its corporate M&A and private equity practice.
A full financial merger between the partnership would only happen after the end of the financial year, on 31 March, once the integration of internal systems, policy and processes was complete, said Ravi Singhania.
The final equity structure of the joint firm had not yet been finalised, but Lakhi noted that it should not cause problems since it was a merger of equals, as Singhania added that each firm currently had four equity partners, who would retain their equity status.
He said: “The merged firm will give us strength to go further. The main business centres in India are Delhi, Bombay and Bangalore but we are looking at adding Ahmedabad and Pune in due course.”
The new offices would hopefully open some time in 2014, he said.