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The firms you mention are quick to respond and don't only rely on contacts. Will however advice u to apply through your placement cells to firms like anagram, touchstone etc. and then move to these tier 1s
Our parliament already has several eminent women MPs
New Equity Partners and The people who have been EP for 5-6 years?
if you can, read the book the Polyester Prince
all these things have happened before, please remember law cannot do anything if you are in upper economic strata, law is there to protect you if you are middle to upper middle, law is there to oppress you if you are lower, you are law if you are top 1% or elected officials
Indira tried this at her height of power in 1972, she did not succeed, Namo is unlikely to try this.
UCC + women reservation is most likely to happen, the draft is ready. It has been circulated a couple of times, and fits with BJP agenda.
HAIL!
This is what the policy says- "If a Retainer so requests, he/she may be transferred to any of the other offices of the Firm, subject to the final decision of the Partners in this regard."
In essence, if it is an Intra team transfer, it should be easy. However, if it is a Inter-team transfer, may be difficult.
14.40+1.60 = 16.00L
Highly Disappointing. Lowest in the Industry.
Mumbai- Corp team gets the highest pay 12L + Bonus (could have changed this year). Disputes team gets peanuts. Last disputes A2 pay was 65k/month.
Multiple starters, drinks
https://www.legallyindia.com/convos/topic/229164-trilegal-gurgaon-ma
Some threads where you can reach out to more associates!
Generally, it might be nice if you also introduce yourself in a very short sentence (while maintaining as much anonymity as you like, of course), and what you think has been most valuable / fun / worth preserving in the LI community and discussions for you.
But perhaps a manual filter that only shows you 'sticky' or 'featured' threads might be something useful?
Exodus alert!!
https://www.legallyindia.com/convos/topic/243303-working-in-capital-markets-why-are-people-so-afraid-of-it
https://www.legallyindia.com/convos/topic/188294-capmark-vs-ibc-vs-ma-the-better-practice-area
The aforementioned threads can help you a bit!
https://www.legallyindia.com/convos/topic/211295-Link-Legal-Reviews
Sometime back I was also an A0 working in the B&F practice and I was clueless.
I think there was huge gap in my learning because we were not taught this subject in college + B&F as a practice area is very technical + we didn’t having knowledge of financial valuations/ finance side of it + big law firms don’t give you time to absorb and learn - high volume of documents and too many deals happening)
Anyway, here’s me trying to give back to the community by making the transition easier for fresh graduates to your law firm job. We will start with an overview.
OVERVIEW:
So first question - What the hell is banking finance?
Banking & Finance - especially on the Corp side - mostly deals with debentures and loan agreements + security docs. There’s also bit of insolvency, and then some other complicated securitisation and financings. We’ll come to that later.
For now just remember these 3 terms - the bread and butter of most law firms:
NCDs, ECB, ODI financing
Alright, now let’s break it down further. Let’s focus on the basics - 1. Loans & 2. Debentures
Loans
You must have heard of a car loan.
A person goes to the bank. Takes a loan to buy a car. He gives some collateral/ security to the bank in case he defaults in paying back the loan - the collateral can be the car, or some gold deposits in his bank etc.
In law firms, we don’t deal with this. We deal with bigger matters but it’s the same concept. So let’s say a big company like Tata Motors goes to a bank/ NBFC to take a 100 cr loan because it wants to buy the company Jaguar.
Okay, so where do law firms come in? In our earlier example, for the car loan - usually these loan documents are standard documents and the person taking the loan has to just sign the bank document. But let’s say Tata Motors is taking a 100 cr loan. It won’t just sign a standard contract. It will want a tailor-made document for itself so it can save on interest payment/ tax/ have longer repayment period etc. This is where Law firms come in. We draft the loan agreement and the security document basis the commercials agreed between Tata Motors and the bank. We also try to negotiate with the bank so we can get favourable terms for our client.
Wait, what’s a security document? Do you mean like a gold deposit? Well no. This is where your college education might help a bit. Remember learning about the difference between pledge, hypothecation, mortgage in college? Now you get to see these documents in their full fledged glory.
Security documents generally include:
1. Pledge agreements - shares of the borrower/ subsidiary may be pledged as collateral. Let’s say Tata Motors bought some shares in the company Tata Neu. They might pledge those shares of Tata Neu to get a loan from SBI.
2. Hypothecation - Tata Motors has some inventory of cars in its factory/outlet and some regular cash flow from selling these cars. Charge is created on these cars or cash flow in favour of the bank.
3. Mortgage documents - Let’s say Tata Motors just bought a 100 acre land to maybe construct a factory. They hand over the title docs of this property to the bank as collateral (hmm.. which out of the 5 types of mortgage is this?)
There are also other documents often used - non disposal undertakings (aka - don’t you dare sell those shares); trustee agreements (aka - let the trustee handle it, we lenders don’t have so much time); inter creditor agreements (aka - fight club of lenders); escrow agreement (aka - I don’t trust you with the money, so I’m gonna put it with a third party bank account) etc. Anyway, let’s not lose our head over these, backs to basics -
Now depending on the reason the loan is being availed (end use of the loan), your transaction maybe classified as - project finance, acquisition finance, real estate financing. Wait what’s that?
Acquisition finance -
End use: want to acquire another entity
Ex: Flipkart wants to buy Myntra but doesn’t have the money. So it goes to SBI to get 200 cr loan to buy Myntra. Flipkart knows it can repay the loan over 20 years using profits generated from Myntra.
Real estate finance:
End use: build real estate projects / housing
Sobha group wants to build 10 high end condominiums in Whitefield with each unit having a private garden and pool. Say the cost of this is 5cr each unit * 10 units = Project cost 50 cr
So they borrow 60 cr from the ICICI bank, to fund this project. They know that all the millionaires in Whitefield will easily pay 9cr for their properties located in such a prestigious location.
But wait, why borrow 60cr and not 50 cr? Cos it will take them 5-6 years to build the project and during that time, they will also have to pay interest on the loan taken (no income for 5 years as the house isn’t built yet). So although they need 50 cr, they will also need buffer for interest payments.
After 5 years, let’s say all 10 units are sold out for 9cr after launch. So they will have a neat revenue of 9cr * 10 units = 90 cr.
They pay back the bank probably 60 cr and 6 cr interest over a 5 year period, and pocket the rest 90-66 cr = 34 cr as profit.
Project finance:
End use: build projects for which cash flows will only come after extended periods of time.
Example: Constructing the Bandra Worli Sealink. It takes more time than to build residential houses, also you can’t upfront sell the bridge like a house and recover the cost in this case.
Project financing is actually quite interesting and easier to understand when you understand the finance side also.
Disclaimer for A0s - I have over simplified this a bit for your understanding. While all this sounds interesting, you’re job initially will be grunt work - proof reading documents, fixing the cross references, maintaining CP checklists, losing your head in tracking emails, taking notes on calls etc. Life will get chaotic at times.
Don’t lose hope. Try to learn quickly so seniors can trust you with meatier work. Things should get better.
If you want a part 2, where I discuss ECBs (oversimplified), do comment a “Part 2” in the comments so that more people can see this post, and I’ll be back with more interesting posts.
Your Dalal Street attorney
XOXO
It essentially means that an A0 at Trilegal earns the same as an A1 at CAM, A1 at Trilegal earns the same as an A2 at CAM and so on. While this would be the difference at the associate level, it becomes much much wider when you move to SA, PA etc.
Have a good day!
First and foremost, let go. Inhale forgiveness and exhale the past. Your former flame made a choice, and so must you. Your focus, my young friend, should be on cracking the life code we call financial independence. Money may not buy happiness, but it offers the freedom to find it on your own terms. You're on the cusp of your final year; it's the perfect moment to hone your skills to a razor-sharp edge, priming yourself to be a force to be reckoned with in your chosen field.
Brace yourself; the industry you're stepping into won't offer you a gentle landing. As a newcomer, you may often feel like you're drowning in a sea of expectations, your capabilities always a notch below what's asked of you. It's a high-stakes arena, and the last thing you need is to get caught in the clutches of your own anxiety. Trust me, in these moments of struggle, the fleeting romantic escapades of the past won't come galloping to your rescue.
In your journey, you'll undoubtedly cross paths with a variety of characters—some genuinely a treasure, but many could very well be the devil incarnate. Navigate with discernment; know when to extend your hand and when to draw your sword. Keep your eyes open, but more importantly, wear your game face. Treasure the comrades who will brave the coming tempests alongside you, for they are your true North Stars.
So, my warrior of life, step into the arena with fire in your belly and thunder in your voice. Take your cue from Nolan's cinematic wisdom: "Rage, rage against the dying of the light." Unfurl your battle cry and march forward, for this, my dear, is your time to shine.
One aspect, "One Nation One Election" has been confirmed..
Bhai if you are in T1, learn how to navigate the law instead of just making muscle memory doing braindead due diligences.
1. though everyone please try to tone it down and de-escalate a little, as much fun as it is to bash each others' law schools :) Criticism is fine, but please don't go overboard and keep harping on the same points, like NLU Delhi fudging figures in NIRF, or NUJS + Mamata = evil, or XNLU being awful, or whatever. Please stick to factual criticism, rather than just opinions, if possible.
2. Genuine request: please tone down politics talk in general. The vast majority of readers and commenters will ultimately not benefit or enjoy if LI turns into an SJW crusader platform, or full of incessant Modi or Raga bashing, or everyone's favourite unwoke WhatsApp uncle foaming at the mouth and railing against the evil Wokes being the end of modern civilisation. There are enough platforms for all this left vs right culture war nonsense and fake news, so if this is important to you, please seek those out rather than LI - there should be plenty of other interesting things for educated lawyers to talk about.
Regarding your first question, yes, of course moderators can participate in discussions (in fact, they are strongly encouraged to do so if they feel like it). And of course moderators (or any other logged in users) can also post anonymously while logged in by selecting the 'Hide your username for this post' button, if they feel like commenting in complete anonymity.
And thank you for your offer - there are quite a few new moderators at the moment, so we'd like to probably let them settle in first for a few days / weeks and iron out bugs, teething troubles, etc, but we'll definitely get back to you for the next round of 'promotions' :)
When it comes to forming real arguments, court craft, work ethics, etc, the general nlu student is marginally better than the general TLC student.
It would be better if you guys stop this *c measuring contest.
https://thewire.in/business/adani-group-stocks-offshore-investments-reports
Also, if there is a need for more moderators, would be happy to help! Have received quite some valuable feedbacks from this forum and would definitely love to give back to the community.
Thanks!
1. NLU criticisms. You cannot permit criticism of one NLU and censor/shadow-ban it in the case of another.
2. Politics: Both woke and non-woke views should be given the same treatment.
I worked at a law firm before moving in house. I asked out my then boyfriend, now we are expecting a baby. If I hadn't asked out. Some other woman would have got him.
It's not rocket science to ask out a person whom you have feelings for. It's 21st Century even a woman can make the first move. Maximum (for the worst) you will get a rejection. Men cannot assume things just by hints. Because so called hints - are just extra niceness for many guys.
There is another wild card option: the Modi govt steps in with a proposal to nationalise all NLUs.
In any case, the moot problem is very plain and simple and the only people who are supporting this problem are people from the 2nd Year 3-Year LLB batch who are crying because only one person out of a batch of 52 people could participate in the Univ rounds because of the toughness of the moot problem last year.