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Projects boutique recruits FoxMandal partner

FoxMandal Little Delhi partner K.A. Najmi has joined project finance specialist firm India Law Services as a partner to head its Delhi office.

Najmi joined India Law Services (ILS) two months ago, preceding the resignation of FoxMandal Delhi partners Saroj Jha and Vineet Aneja as reported on Legally India last month.

Najmi said: "ILS is one of the leaders in project financing documentation in which I have a lot of experience, which is why I decided is to join them."

India Law Services was ranked runner-up in data provider Dealogic's 2009 half-year league table of global project finance legal advisers, in between Luthra & Luthra and Amarchand Mangaldas.

The firm had a role on 14 project financings worth a total of $6bn, acting mostly for lending banks on projects work.

It is around 25 lawyers strong, with its largest office in Mumbai with four partners, followed by Chennai and now Delhi with one partner each.

India Law Services partner Ishtiaq Ali said that projects was the firm's core area but that it would be looking to expand also in ancillary practice areas within the next year, as well as grow its Delhi office.

Before jointly setting up India Law Services around 10 years ago, Ali had worked at development bank IFCI and another India Law Services co-founder was formerly in-house at IDBI Bank's projects team.

In joining India Law Services, Najmi is the third FoxMandal Delhi partner to have left the firm in the last three months.

FoxMandal's Delhi office had experienced delays in the payment lawyers' and partners' salaries this year, as the credit crunch affected cash-flow.

However, the office is close to having solved the problem, FoxMandal managing partner Som Mandal told Legally India.

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