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Nalsar ‘15 alum quits Khaitan Mumbai, joins mutual fund start-up Scripbox as legal head

Prasad joins 6-year old Scripbox mutual fund business as new in-house legal counselPrasad joins 6-year old Scripbox mutual fund business as new in-house legal counsel

Nalsar Hyderabad 2015 alumnus Nishant Prasad has joined mutual fund distributor Scripbox as its sole legal counsel.

A former Khaitan & Co associate, Prasad succeeds NLSIU Bangalore 2011 alumnus Balika K as the sole legal counsel at the 6-year old, 120 employee start-up.

Prasad’s role includes compliance, documentation and advice on the funding coming into the company as well as internal compliance and working with the marketing team, he said.

Scripbox competes with players such as Finvest Advisors and Piggy in the space.

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Like +10 Object -7 NALSAR Senior 21 Aug 18, 14:14  controversial
Great Going Nishant! Congratulations
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Like +5 Object -8 Best 21 Aug 18, 14:43  controversial
Nishant izzz the best boy
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Like +5 Object -8 Awesome 21 Aug 18, 14:58  controversial
NKP is the boss!
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Like +2 Object -7 BH3 21 Aug 18, 15:47
Keep it up Bro Bhai !!!!

Whatte News ...
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Like +3 Object -7 City Lawyer classmate 21 Aug 18, 15:52
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Like +2 Object -8 Khaitan Colleague 21 Aug 18, 16:18
Really great news! Good luck bro
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Like +9 Object -11 Nalsar colleague 21 Aug 18, 16:25  controversial
Waah NKP babu, Naya naukri, Naya ghar, Naya shahar badhiya hai ...
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Like +4 Object -5 Bhai 21 Aug 18, 17:05
Congratulations Bro Bhai. Now no one can say mooh chota ho hats hai. ;)
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Like +19 Object -9 babacamche 23 Aug 18, 03:08  interesting  controversial
While this is an interesting news. Honestly, see this as something worth publishing on lawctopus or superlawyer rather than on legallyindia. Kian you would have to be very microscopic in your journalism if all such instances were to be published. However, I suspect you were requested to write this. Ah well. Good luck to the guy.
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Like +10 Object -12 kianganz 23 Aug 18, 10:47 LI subscriber  controversial
We try to cover as many moves in-house if possible, if they are potentially relevant or interesting for practitioners.

In this case, Nishant may just have a few years under his belt, but he is also becoming the most senior in-house lawyer in an interesting company that some private practice lawyers may want as a client.
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Like +7 Object -4 Jury 23 Aug 18, 17:52
Kian is struggling to reply / convince.
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Like +7 Object -2 NLIU Ex-student 23 Aug 18, 18:04  interesting
@Kian my friend from NLIU has been hired as the sole legal counsel of a new sports league startup. Would you be interested to cover it?
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Like +0 Object -0 Giridas gajodhar 05 Sep 18, 21:17
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Like +0 Object -0 Bias 09 Sep 18, 15:07
Three years since graduation. He is not the most senior in-house but probably the only in-house. Also how many decisions will he be taking for the start-up or will he end up only co-ordinating with counsels and law firms as most "in-house" with little experience do.
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Like +0 Object -0 Un-biased Firm Vakeel 10 Sep 18, 15:21
As far as I know, in start-ups like these, the point of hiring younger counsels who have good experience from graduation is so that they remain cost efficient in terms of the salary being paid to the legal counsel and getting quality work (including decision making) being done by the counsel to the largest extent to avoid expenditure on counsels and other law firms.

In that mindset, his move probably allows him a lot more variety and decision making powers. In either case, I am sure its still better than any decisions he probably would not be taking for quite a few years being in a law firm. Must commend him on having the guts to take this move at this stage as a solo counsel
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Like +13 Object -16 AJS 23 Aug 18, 12:00  controversial
Seems like a sour grapes scenario. Nishant is probably the youngest sole legal counsel of an Indian company which has raised more than 100 Cr. No nlu graduate has acheived this much at such a young age to the best of my recollection.
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Like +11 Object -3 Some NLU Grad 23 Aug 18, 19:12  interesting
Nithyanandan from NLS was Infosys GC within 1-2 years of graduation. Infy was a listed co on NASDAQ and BSE.
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Like +6 Object -2 Laa Skool 26 Aug 18, 20:33
DJ Mainak from NLSIU's 2015 batch was GC of Inshorts. I'm sure they have raised more than !00 Cr.
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Like +0 Object -3 Guest 29 Aug 18, 21:44
DJ or GC?
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Like +3 Object -1 Phoenix136 23 Aug 18, 18:11
Of course you're better a judge of what must be published on legallyindia than Kian. How could anyone do something without seeking a baba's opinion. :)
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Like +8 Object -3 Laughing Till The Bank 30 Aug 18, 08:18  interesting
Scripbox is a highly regarded startup in financial circles, and if they're changing their GC, it deserves a story. When promotions of unknown NLU grads to partner can make news, this is a lot more relevant to others.

I predict that this guy will make big, big money over the years, and those who are dismissing this as a distraction from the law firm Game of Thrones will be spamming his LinkedIn inbox to try and get a meeting.
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Like +2 Object -2 in house 01 Sep 18, 09:16
All the best to Nishant. Good move for him, am sure. From an in-house perspective, seems to be more a case of the company realising that they didn't need the kind of legal resource qualification that they had with the previous guy. Safe to assume that the CTC for Nishant would be significantly less than what a 2011 grad would have been getting.
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