Exclusive: Alliance Legal, which was set up in Mumbai 15 months ago by partners and a senior lawyer from AZB & Partners, J Sagar Associates (JSA) and Talwar Thakore Associates (TTA), is breaking up, and co-founder Vishnu Jerome is in advanced talks to start a Mumbai office for Bangalore firm Poovayya & Co.
Jerome, who was a partner at AZB Mumbai until he resigned in June 2011, is set to start an office for Poovayya & Co in Mumbai, according to sources close to the firm. Poovayya & Co currently has offices in Bangalore, Chennai and Delhi.
The firm’s founding and managing partner Sajan Poovayya did not respond to calls or messages seeking comment at the time of going to press.
Co-founding partner Priyanka Roy, who was previously a partner at JSA, will retain and continue running the Alliance Legal brand according to authoritative sources.
Ravi Kumar, who was a managing associate at TTA before becoming the third Alliance co-founding partner, is understood to be leaving the partnership to explore other opportunities, including moving laterally to other firms.
Jerome, Kumar and Roy declined to comment when contacted.
The three founders, who all graduated between 2000 and 2002 from NLSIU Bangalore, set up the firm in September 2011 and had managed to attract a number of capital markets and private equity deals, according to previous reports on Legally India.
It is understood that the full demerger and exit of the partners, as well as which side associates will join, may take several months to finalise.
Earlier this year, young seven-partner start-up law firm PXV Law Partners split into three firms over “differences in vision”.
Legally India reported in August that start-up law firms were making a dent in the market and attracting work, although the transition from lower margin work to being instructed on marquee deals often proves to be difficult.
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Ok, so I am a mid level lawyer (some 6+ exp) who is going to do a business degree from a premier MBA institue (the premier institute) in india
now who do i connect with at these firms to help them run the firms ?
sure, why don't you join me.
love to have people around, specially lazy bums living off their parents' income.
You know, the kind who would never understand the true meaning
of risk. after all what do the likes of you actually got to lose ?
poor mediocre soul wouldn't make it to IIM Ahd. would he ?
but you wouldn't get it. because unlike my parents who are proud of me; your dad probably looks at you every morning and wonders what he did do deserve you.
And by the way, if you pass sarcastic comments on others, have balls to take sarcastic comments passed on to you.
Fool. Cyril never started his own firm. Hahahahah. What an idiot you are
So really the comparison does not mention sense..
Also one of the main things to learn from fox seems to be back biting dispute start up and non payment of salaries for eons.. not sure how that is something to learn and imbibe..
Having said that, it without doubt that vishu's a fantastic lawyer and his team will continue kicking ass, whatever the new entity is called.
It is far more important to share the same outlook, ambition and, for lack of a better word, culture. This is what English firms try and do, and some of the larger Indian firms such as AMSS are trying to do, although in this market it is not easy and I make no comment on whether or not firms have been able to do this.
It would be interesting to see why some firms, such as Trilegal, have stayed together and prospered, and some, such as PXV and Alliance have not. Perhaps Kian can see if there are any general themes that could be of interest to readers.
Finally, it is always sad to see firms break up, and I wish all three partners and the associates good luck.
Thatt is what comes of too much greed and wanting to be in the limelight a.k.a. "I started my own law firm"
Clasis? Vidhi? Vichar? Finsec? K Law? These few readily come to mind. But surely there are more.
Isn't Vidhii, with Manish Desai who has 20 odd years of experience, in a different league altogether...
I think the major success story has been Argus, particularly the coup in taking over U&U
Prism, on the other hand, was not a split - the two founders and team simply joined Naik.
ALMT is hardly a start-up. It may be one of the younger firms relatively speaking (10-ish years?) but was comparatively pretty huge in terms of headcounts and well-established.
Hope that explains it.
Seems very different from 3 or more founding partners deciding to demerge into separate firms...
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