Exclusive: J Sagar Associates (JSA) has made up six new retained partners and 13 new senior associates across its offices, matching last year’s promotion record.
Gurgaon’s new partners are Trisheet Chatterjee and Manvinder Singh in the corporate commercial teams.
In Mumbai Manisha Kumar specialising in M&A, private equity, capital markets and securities, and Anirudh Goyal in M&A, private equity and corporate commercial were given the nod to partnership.
In Bangalore Tony Varghese and Raj Ramachandran became retained partners, with both specialising in corporate commercial while Varghese also deals with dispute resolution and employment issues.
Retained partners are the equivalent to salaried or non-equity partners at other firms.
JSA now has 28 retained partners but has no further space at present to promote equity partners, having hit the 20 partner limit imposed by Indian statute, explained Mumbai partner Dina Wadia.
Jyoti Sagar added in a statement: “We as a firm continue to remain committed to extending equal opportunities to our attorneys for progress within the firm – a truly collegial professional institution which belongs to all of us and without being a preserve of any of us.”
A total of 13 lawyers were promoted to the senior associate rung. Mumbai led with five new senior associates, followed by Bangalore with three, Gurgaon and Delhi each welcomed two and Hyderabad one.
This year’s promotions put JSA just behind Khaitan & Co’s internal promotions in March that added seven to the firm’s partnership tally.
In April of last year JSA also made up a total of six, with one equity partner and five retained partners, while in July 2009 a total of nine retained partners and two equity partners were promoted at JSA.
Photo by Mzelle biscotte
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It was an exclusive because we had been chasing the news for two days to get the details and a quote.
When we did, we published the news at 14:22, roughly two hours before a press release was ever issued. We later added Mr Sagar's quote from the press release to the story.
If other websites, leading or otherwise, published the press release, I am sure that it was later in the day (in fact, having just checked, it appears Bar & Bench published roughly 4 hours after we did and I can not find any other websites that have published the news so far).
Therefore, in every way at the time we published the story it was an exclusive.
Best wishes
Kian
I may be wrong but I do not think that the Partnership Act lays down any restriction on the number of partners. The restriction, I think, comes from Section 11 of the Companies Act. Happy to be corrected.
Kian - you may want to change paragraph 6 of the report above, unless, obviously, you are quoting fully what have been told to you.
Thanks.
Enactment of the LLP Act mitigates the requirement above at the same time have the basic qualities of a partnership.
Zzzzz
Sounds like JSA is moving towards the model followed by old Bombay firms that refused to grow theri partnership (or generally grow!). I hope I am wrong as i have always held JSA in high esteem for their professionalism.
Are you a lawyer?
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