ICUL has a common pool for interns. Can ask for work from any team you wish to intern with

I've previously interned at ICUL, Mumbai with their Investment Funds team and also have an assessment internship scheduled for July 2023. ICUL is an industry leader for Funds. There is no stict team distribution for interns at ICUL and it's a common pool. You can go there and ask for any team you would want to intern in. For Mumbai office (Andheri), I would suggest to go for Funds or PE/VC. Both of the teams have really good work and can get to learn a lot. Seniors are very welcoming and are ready to sit down and make you understand the transaction you are working on to give a better context. Go for ICUL Mumbai and then ask for a team later on when you join.

The technical rounds are quite tough. Prepare very well about all the sections of company law they ask you sections randomly like share dilution, share warrants, certificates and other such question and then after basic ones they will ask you difficult and situational ones and they would also ask from SEBI takeover code and securities law for A0.

Tricky questions and not easy to tackle. All the best.

I have been interviewed twice once my principal associate and other one by the senior partners of the firm for fresher A0 corporate Chennai. Been 20 days and there was a gap of 15 days in each interview. As they say they don’t hire in bulbs they believe in quality > quantity so hiring process at ICUL takes about 2 months time in totality. Have patience

I agree, they represent clients against SAM, AZB, etc. check their deals, the associates at ICUL Chennai’s corporate team and Mumbai’s investment funds teams are always having offers from SAM, CAM, etc. as the practise for Chennai Corporate and Mumbai investment team is recognised as Tier 1 specifically if you get into the teams of Kavita Vijay or Sameena in Chennai or Tejas in Mumbai. The pay in these 3 teams is at par with other T1 and one can expect about 12lpa and above easily.

The corporate team at Chennai office is at par with May T1 when it comes to deals, they have a lot of deals and good clients, they charge good from clients so are able to pull off good pay, it is about 90,000 per month for the Chennai team. Moreover, you get a lot of exposure and deal with clients as a fresher your will learn a lot with your association with the team.

You won't get a PPO there, they're done with hiring for batch of 2023. They are very particular about the qualities they seek in an associate. They are not like any mass hirers like CAM, KCo. and Trilegal.
Disclosure : I worked with the Financial services team in 2018. Left to start my own practice.
Yes, their financial services team has around 30% market-share in Financial services practice area in India. The investment funds practice and PE/VC practice is also generating really good revenues. The firm has seen around 88% growth in revenues (YoY) in the past year.
Their pay is higher than most of the T1s across all the pay-bands. All the team members in the team always have 1-2 standing offers from T1 firms but the attrition is low due to better work-life balance.

Although the other teams are not as good and Changing teams after joining is not possible at all.

IC Universal Legal is one of the best and highly recommended firms for investments funds in India as on date. I am not sure about the other teams, but if it is with the Mumbai funds team, then go for it. I have heard that the pay offered by this firm to 2023 graduates is on par (if not higher) than most T1 firms.

I am from Nalsar, and ICUL's Mumbai office has every year picked up students from here with the last year's package in excess of 12.50 lakh. This year I understand they are participating on Day 0 and offering package in excess of 15 lakh. This is much more than what Indus could offer and Indus is certainly not allowed to participate on Day 0 in at least Nalsar. ..so believe between Indus/ICUL it's all about picking the right team/office amongst the two as some other comments also suggest!!

A firm decent enough to consider. A good tier 2 on an average and with some potential. Some practices are tier 1 level but others tier 3 so in a mix making up to band 2. Work culture is overall good. A google search will show enough about venture capital, sebi and funds being the firm’s dominant areas so these teams would be the ones to go for.

From being an unknown name 5 years back, the firm has come a long way in a quick time to its credit. However, seems to be driven by a couple of star leaders and practice areas, particularly Investment Funds. So if you are getting a potential opportunity to land a job in one of those practices/teams, then go for it.

Like any other pan India firm, depends which office you are getting in. ICUL’s Mumbai and Chennai lead the show in PE/VC areas to the extent that the Mumbai asset management and funds team steals the show amongst all tier 1. Difficult to even gain an entry in that team. Whereas the other offices exist but not comparable so the firm has its strengths with some offices and practices at different quality level whilst others are catching up.

Indus eyes closed. It will break horribly tomorrow with every partner quitting. But as of now it has a brand value. Just like alliance law. May not remain tomorrow but has a brand value better than icul Today. Also...I wonder how partners feel feeding senior partners who don't do absolutely any work! Not your problem though. Go for indus