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Verus promotes Charles De Souza but loses friend & partner Jay Parikh (possibly to SAM) [UPDATE-1]

De SouzaDe Souza

Verus Advocates has promoted disputes partner Charles De Souza to its partnership, as one of its senior partners Jay Parikh has left the firm.

De Souza specialises in corporate-commercial disputes, banking litigation and arbitration and had joined Verus in 2011 from Bharucha & Partners.

“We have seen a surge in our disputes practice across our offices,” commented founding partner Krishnayan Sen, with Sen and partner Rishad A Chowdhury having qualified as Supreme Court advocates-on-record and the firm having scored several major litigation mandates in recent years.

The firm will also be in a larger office space from Monday, 4 May, opposite Mantralay near the Bombay High Court on Maharshi Karve Road.

Verus now has 25 fee-earners, including five partners.

Parikh moves on

Meanwhile, partner Jay Parikh has left the firm. He had joined Verus in 2012 with Dipankar Bandyopadhyay from Bharucha & Partners, where both were senior associates.


Bandyopadhyay will take over leading the corporate practice of the firm from Parikh.

Sen commented that Parikh “has decided to move on to another firm effective 1 June 2015”.

He added: “Jay has been a great partner, a caring senior and a true friend. His departure will create a void which will be difficult to fill; and its sad that we lost him to, what I understand, a big-law firm… We wish him all the very best in his new role; and he will continue to carry a bit of Verus with him, wherever he goes.”

Parikh commented: “It was an exhilarating 3 years after founding Verus. I am taking some time off to think what next. I will always wish Verus well.”

Update 19:51: According to two authoritative sources, Parikh is in advanced stages of discussions to join Amarchand Mangaldas Delhi managing partner Shardul Shroff’s new Mumbai firm, which is expected to be set up after mediations end with Shardul Shroff’s brother and current co-managing partner Cyril Shroff. However, Parikh declined to comment when asked whether he would join Shardul Shroff. We have reached out to Shardul Shroff for comment.

Sen said that Verus’ corporate practice had grown well last year, with the help of partner Siddharth Bhavnani who joined from Dua Associates late last year and had acted for Focal Energy on a solar power project in Madhya Pradesh. Other transactions of the firm included a Rs 1,300 crore debt restructuring opposite Trilegal, advising HDFC mutual fund on a large bond issue by Adani Ports, a large residential real estate transaction in Mumbai, said Sen.

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Like +1 Object -0 Emotion is Motion 01 May 15, 19:23
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Like +26 Object -15 Ravi 01 May 15, 19:28  interesting  controversial
Having worked with Charles I can say that he has a innate ability to see beyond the obvious. His attention to detail and ability to predict the opposite side's moves makes him a great asset on a litigation. Well deserved! All the best!
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Like +15 Object -11 Lebowski 01 May 15, 20:06  controversial
Yeah, well, that's just, like, your opinion, man
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Like +11 Object -11 Khabri 01 May 15, 20:12  controversial
Jay's exit will be a big big loss to the firm. Would set them back quite a bit. But congratulations to Charles. Is Jay exiting along or is his team following suit?
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Like +9 Object -8 chococookie 03 May 15, 23:48  controversial
well.... I think its a logistical loss but iam sure with the kind of litigation practice these guys have built for past 4 years across 4 offices, its just another wave on the fortress....
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Like +3 Object -1 WTF 05 May 15, 10:53
Leaving with 2 associates. Jay's managed a great deal with SAM for his associates as well - no discounting on experience i hear...rare for AMSS
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Like +4 Object -3 Wonder... 01 May 15, 20:13
What else but the family feud is causing such mass scale moves !!! After all they do offer hefty pay packages and 'wardrobe allowances', as i remember from our recruitment times !

But is it really a loss for one and gain for the other ? Or will it work the other way round in reality !
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Like +3 Object -1 Wonder... 01 May 15, 20:15
Oh and by the way before l forget....well done Mr D Souza !!! Well deserved !!!
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Like +5 Object -2 Silk 01 May 15, 20:36
It's karma man ....all about karma
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Like +1 Object -0 emotion is motion 01 May 15, 21:36
Stop trolling. Hari OM Hari om
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Like +32 Object -31 sad but true 01 May 15, 21:16  controversial
Dig deeper... Jay has not left because of SAM...he loved the firm too much. The real reasons are internal and would be quite shocking and surprising to many. Very sad that all the promising start ups are crumbling... Krishnayan is the only hope for its strong survival.
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Like +0 Object -3 vantage 01 May 15, 21:52
Verus is what, a Tier III firm?? How much are Associates paid here??
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Like +2 Object -1 maser 01 May 15, 22:22
heard Shardul is going to raid the old 4 firms !
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Like +0 Object -6 khabri 02 May 15, 01:33
Yeah true.. the top notch of each of d top four firms are contemplating joining shardul...
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Like +10 Object -2 socho 02 May 15, 09:36  interesting
If you examine, neither CAM or SAM have been able to poach any top existing corporate partner of any of the other big 5 firms - they have either got only former partners (like Rathi from AZB) or junior partners (like deepto or piyush). Looks like the experienced partners know something that we don't. Sochney wali baat hain!
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Like +2 Object -0 WTF 04 May 15, 22:15
And u really think they will display their main cards before the mediation ends? Sochney wali baat hai...
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Like +3 Object -1 :D 02 May 15, 06:10
Charles De Souza very well done ! Congratulations and wish you all the success !!!!
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Like +9 Object -6 Well wisher 02 May 15, 13:12  controversial
Verus - Lots of progress as i see. As for all law firms, this amss fight will reveal the loyalists and the opportunists.
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Like +6 Object -3 Floyd Money Mayweather 02 May 15, 14:02
Money makes the world go round ma friend!!!
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Like +3 Object -5 AL 03 May 15, 00:24
From best researcher in office to Partner! You've come a long way my friend! Congratulations!
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Like +14 Object -5 Jolly LLB 03 May 15, 07:40  interesting  controversial
nice spin- the real story, that one of the founder partners have left the firm has been pushed to the back burner and highlights drawn out of Charles' promotion and some irrelevant transaction details (wonder why Verus never reported them as they happened). All very nicely packaged by LI as if they were Verus' personal PR agency. This is what Kian calls journalism apparently. If he was a real journalist he would have asked the following questions:

1. How many equity partners does Verus have? Is Chowdhury an equity partner? What about Charles? Will h have equity? What happened to Sourav Bhagat?

2. If Parikh moving only for the money or is there something else? For eg what really happened between Parikh and Bandopadhyay?

But expecting LI to ask these questions will be unfair since it involves actual journalism, not manipulating press releases.
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Like +7 Object -2 kianganz 04 May 15, 11:58  interesting
Fair comments.

1. I admit that we tend to go slightly softer on younger start-up firms, since I feel there is less public interest reasons in asking the tough questions of younger firms as opposed to the larger and older firms.

2. Both sides seemed pretty amicable in their comments.

3. I believe you're right though that there's a bit more to this departure than reported. Not sure if it's personal issues between any individual partners but seems to be some sort of disagreement about the strategic future of the firm.

4. Equity structures at smaller firms we don't tend to examine so closely either, since a lot of them are quite fluid and informal.

5. Ironically, despite being a younger firm, Verus did better on the PR front in this story than most larger firms. Obviously they packaged Parikh's departure alongside some positive spin in an exclusive press release, and they were proactive in coming out with the news rather than hoping it would pass unnoticed. But since we were understaffed Friday and there were 3 or 4 other news stories breaking, we didn't do a huge amount of probing of it.

In short, yes, we could have taken a different angle on this. But while this story might not tell the entire picture, I don't think it's inaccurate, deceptive or uninformative...
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Like +15 Object -7 Donkey 04 May 15, 14:08  interesting  controversial have missed a huge huge thing in this story. Poor Jay's departure has a lot more to it than just a lucrative SAM offer. He was subject to a lot of nonsense.

Until Partner had a separate office space.. find out why.
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Like +1 Object -1 abc 05 May 15, 15:34
And what joy will you get by reading about their internal fights? Its anyway known by most.
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Like +0 Object -0 waddalawyer 06 May 15, 18:01
I would concour to the extent that LI does seem to have sort of a soft corner for Verus. There are lot of Teir III firms and 'young firms' in Delhi doing some incredible work but somehow Verus is always reported 'when they want to be reported.'
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Like +1 Object -0 kianganz 06 May 15, 18:07
Then they have made a better effort reaching out.

Due to the number of start-ups and everything else, we have our hands full, but when other start-ups tell us about their deals we often try to give them priority over big ticket deals too.

But a lot of start-ups are shy... :)

Also, out of recent start-ups, only a few developed any sense of scale and ambition, at least in partner numbers - there was/is Verus, PXV, Advaya, and a few more. Most others remain founding partner shops or get acquired, so there's not that much to write about...

So in short, if you run a start-up, do get in touch - LI has a soft spot for you. :)
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Like +6 Object -0 Jackal 07 May 15, 15:37  interesting
Kian actually makes an interesting point. Most law firms that had started 4 yrs back, like Verus or Advaya, have actually shut shop or merged: PXV, Prism, Alliance, Acuity, MNK (much older though but rebranded), Gnarus, Augustus, Argus (as it were), V Law and the list goes on. This only shows that the startup ecosystem in India is not very conducive or easy. It also makes it a story of hope and grit that few young firms like Verus or Advaya, have not only survived but have also grown against all odds.
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Like +0 Object -1 Guest 03 May 15, 20:59
How much does Verus pay to its juniors...any idea???
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Like +3 Object -1 Guest 03 May 15, 22:27
Apparently its very discretionery. Someone with more experience could be paid less and freshers could be paid more.
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Like +2 Object -2 Ctrl+ Alt + Del 04 May 15, 08:10
Well, apparently from what i hear, this information is incorrect. Besides, most importantly, why would someone with more experience stick with Verus then, if he is underpaid ?
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Like +1 Object -3 News? 04 May 15, 16:02
Why is this news? BORING.
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Like +3 Object -1 kianganz 04 May 15, 16:05
Hi there, well done, hereby giving due notice: we'll be blocking 'why is this news' comments in future, as much fun as they are for you and everyone else :)
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Like +2 Object -2 ghost who walks 05 May 15, 17:04
Please follow closely activities of corporate practice which is now going to be taken over by one genteman named above. There is a lot in this story which stinks to high heaven. Where is Bhagat ? What is his role in the affair ? To whom were phone calls made late at night ? Why did Parikh leave in a huff saying that he was too much of a gentleman to carry on?
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Like +0 Object -0 parikh parikh 06 May 15, 18:56
Is jay parikh related to nishant parikh? Trilegal chap
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Like +1 Object -0 Anon 06 May 15, 22:39
They are brothers
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Like +1 Object -0 hithere 06 May 15, 23:06
Charles, congratulations!:)
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Like +7 Object -0 Change is in the air 07 May 15, 23:37  interesting
Verus CONGRATULATIONS !!! Hope you guys fly really high ! I think all lawyers would like to see some more names in the market than just those of a couple of long standing firms !

And as has historically always been the case- all such start up firms will face tough resistance mah friends !!! Thats always how it workS !!! Honestly, i couldn't care less about the internal politics, which is prevalent in all firms. As always there are 2 sides of a coin and there will always be stories floating around !

But i sincerely hope a few more of us have what it takes to throw away the hefty package & have the courage to do it from scratch & be our own king !!

Until then...AMEN :)
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Like +0 Object -0 insider news 28 Aug 15, 15:32
sad to say the least. There is more than meets the eye. Have heard Jay was a gentleman and chose to leave then continue with angst. verus should tell us the REAL story! again i have worked with both and both were closer than mp bharucha and alka bharucha but now they are warring like justin bharucha and the rest of the firm.
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