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Been there and done that again. Tbh, there will be a little difficulty adjusting the litigation lifestyle for 1-2 years. Post that when cases start closing incrementally, the satisfaction is immense and very genuine!

The biggest changes you need to make peace with for a smooth transition:
1. The addiction of paycheck on 30th of the month;
2. Getting up on some days and not having work and actually having to take the initiative to find work (which you've slowly given up while working in a law firm); and
3. Daily disappointments.

To elaborate on point 1 and 2: People say litigation is hard work etc. But more than the 14 hour days, it's the "nothing to do" days you have to learn to deal with more. Sometimes, there will be entire weeks/months when all you did was just filed a receipt. That is the scarier part after you come out of a law firm where everyday is a standard 12-16 hours. But assuming you have a good enough savings at this stage to pad you up, you can easily sail through it financially.

To elaborate on point 3: In law firm, you are pretty much in the senior rung now. Associates work for you, partners rely on you. Unless there is a very major fuck up, no partner will shout down a PA/PAD. You're treated very professionally. But in litigation, you'll have judges who'll destroy your self esteem everyday - either by not listening to you, by dismissing you or giving some random ass order. Don't expect to "win" cases. As long as you're appearing and you're making money, that is the definition of success in litigation.

So yeah buddy, just prepare yourself mentally, take the plunge and enjoy the ride. And do not evaluate yourself until for the next 2 years. It's fine as long as you are making some incremental progress every month. Life is too short to spend in a cubicle. Go be the reason you did law for!
Your grey hair will be worth more once you step into a courtroom. Camaraderie at the Bar is one of the most amazing gifts - there is always a friend to speak to, a mentor to listen to. You will be Master of your time on most days. That is worth a bank account of its own. No more calling other people Sir. Its time to be out in the world and of value to it.

Consider partnering with a litigating lawyer who would be willing to introduce you to the practice. You can use your current knowledge to add a transactional side to his practice. Hire juniors and treat them better than you were treated.

The secret to happiness is that it is right here, right now. Not a distant goal or a daydream. Life is too short for what ifs.
It is extremely difficult to break into litigation field. Frankly at 40ish you should already have a regular stream of work coming to you from Tribunals (service matters, telecom, SEBI, CCI), High Courts and Trial Courts which you don’t. It will now be extremely difficult to get that for you.

Second, a lot depends on the relationships right from a notary to clerk in court to babus in offices, NCLT and NCLAT etc. You will have to start from ground zero.

Irrespective to the above if you have fire in your belly to become a litigator nothing can stop you. But be prepared to first 5 years of struggle and β€œdeep deep deep” frustration and humiliation and disrespect. After 5 years who knows? You could be a failure or someone good in making.