About 7 years ago, Janak Dwarkadas’s returned income (Asst Year 2014-15) was Rs 32.85 crores. See para 2 of this order of the ITAT: https://indiankanoon.org/doc/51786764/
That’s a jump of 4 crores in a couple of years. In the 6 years thereafter, I would expect the jump to be quite a bit more.
Very interesting to note that in AY 1996-97 (when he would have been on the cyst of senior designation), his returned income was around Rs. 1.26 crores. https://indiankanoon.org/doc/168478889/
Applying the indexation index that is around the following amounts in today’s terms: 1996-97: Rs. 3.75 crores odd. 2014-15: Rs. 44.94 crores odd.
Note: this is returned income - professional receipts could be close to 1.5 to 2x that (because this is the post expense, post tax deduction claims amounts).
Harish Salve’s returned income in AY 2011-12 was Rs. 50.5 crores: so the estimate of 100-200cr annually as total receipts in the subsequent few years would be quite a reasonable ballpark figure… https://indiankanoon.org/doc/115084903 (para 4)
Mohit Saraf who held 33% equity in L&L made 8 crores per annum as per revelations during the firm dispute. So that means, RKL, the managing partner who holds 66%, makes 16 crores.
Even assuming other firms like CAM/SAM/AZB/Khaitan are bigger in size and revenue, the managing partner (who hold between 20-70%) just be making 30 crores max. This is after running a firm with 500-100 employees.
Some litigating lawyers in the country make that much alone - Harish Salve makes almost 3-5 times that amount with hardly ten underpaid juniors under him.
In Asst year 2011-12, his returned income was Rs. 28.84 crores. See https://indiankanoon.org/doc/120373345/
That’s a jump of 4 crores in a couple of years. In the 6 years thereafter, I would expect the jump to be quite a bit more.
Very interesting to note that in AY 1996-97 (when he would have been on the cyst of senior designation), his returned income was around Rs. 1.26 crores. https://indiankanoon.org/doc/168478889/
Applying the indexation index that is around the following amounts in today’s terms:
1996-97: Rs. 3.75 crores odd.
2014-15: Rs. 44.94 crores odd.
Note: this is returned income - professional receipts could be close to 1.5 to 2x that (because this is the post expense, post tax deduction claims amounts).
Even assuming other firms like CAM/SAM/AZB/Khaitan are bigger in size and revenue, the managing partner (who hold between 20-70%) just be making 30 crores max. This is after running a firm with 500-100 employees.
Some litigating lawyers in the country make that much alone - Harish Salve makes almost 3-5 times that amount with hardly ten underpaid juniors under him.
Isn't that interesting?