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JSA promotes 6 partners, 16 senior associates

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J Sagar Associates (JSA) has made up one equity partner in Delhi and five new retained partners in its Mumbai, Delhi and Hyderabad offices, following last July's promotion round of nine retained partners and two equity partners.

Delhi dispute resolution partner Dhirendra Negi was promoted to equity partner level after having been with the firm for eight years.

Mumbai's new retained partners are Rinku  Bhiwandkar and Rashmi Sharma in the corporate and M&A team, and Jay Gandhi who specialises in funds and private equity.

Corporate and private equity senior associate Sidharrth Shankar in Gurgaon and Hyderabad principal associate Sanjay Kishore also got the nod to retained partnership.

Retained partners at JSA are the equivalent of non-equity or salaried partners at other firms.

As of 1 April the firm now has a total of 25 retained partners and 20 equity partners, with more than 200 fee-earners.

JSA Mumbai partner Dina Wadia explained that the statutory limit to the size of Indian partnerships technically prevented the growing of the equity partnership beyond 20.

"You can't go beyond 20 equity partners," she said, "and anything which really goes over the equity limit tends to be in the retained partner category. You need to promote people and so it doesn't mean that you can hold back promotions or elevations for deserving people."

The firm had also promoted 16 of its associates to senior associate level as of 1 April, Wadia told Legally India.

On 1 July 2009 JSA promoted a total of nine associates to its partnership and made two new equity partners Venkatesh Prasad in Gurgaon and Sandeep Mehta in Mumbai.

The firm has now changed its main partnership and associate promotion date to coincide with its financial year, whereas until last year the fee-earner year for HR purposes ran from 1 July until 31 June each year.

In February 2010 one of JSA's equity partners Nishit Dhruva went independent and earlier this month retained partner Amitabh Sharma joined Khaitan & Co.

In the past year, JSA has also hired senior tax adviser Jogendra Singh and direct tax partner Sunil Jain from AZB & Partners, as well as merging with the Bangalore firm of M&C Partners.

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