Amarchand Mangaldas Mumbai office has hired SR Patnaik, who was previously a tax partner at Luthra & Luthra in Delhi, as its Mumbai tax practice head and partner.
Patnaik had been at the Luthra & Luthra accountancy firm since February 2000, which was set up by the father of Luthra & Luthra Law Offices founder Rajiv Luthra. It is currently run by his brother Amit Luthra and in 2008 the tax division of the accountancy firm was merged into the law firm.
Patnaik began his career as a chartered accountant in 1994 after his BCom in tax, accounting and business laws at Berhampur University. He later obtained his LLB from Chaudhary Charan Singh University.
Patnaik has been unreachable for comment since last week.
Update: Patnaik told Legally India that he was still at Luthra and would be joining Amarchand some time in October. “I’ve had a very great enriching experience here and this [move to Amarchand] is just in terms of my career prospects and opportunity,” he said.
Amarchand Mumbai managing partner Cyril Shroff said in a press release that Patnaik would strengthen the firm’s “specialist combination of legal and tax expertise”, which was required in complex global and national transactions. “Naturally therefore, tax lawyering is a core focus area for our firm and I see this as absolutely essential in today’s business environment… We welcome him to our Firm and wish him a successful career with us.”
Amarchand’s Delhi tax practice is headed by partner Krishnan Malhotra, who was hired last year from KPMG after the firm’s tax head Aseem Chawla left to start his own firm.
Legally India has reached out to Luthra managing partner Rajiv Luthra for comment. The firm’s capital markets partner Madhurima Mukherjee, who had previously joined the firm from Amarchand Delhi, resigned last month with three other partners having left or due to leave the firm.
Correction: An earlier version of the story erroneously stated that Patnaik had joined the Luthra law firm in 2000, when it was in fact the chartered accountancy by the same name.
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Interestingly enough- all who have left are bright and very talented professionals. Leaves one to wonder if this particular firm is actually the place to be at.
May be fevicol a better option..... still need to see its effectiveness
...was leading Khaitan Delhi’s indirect tax practice between 2009 and June 2013 after two years as a senior manager at KPMG India, one year at BMR Advisors, and nearly seven years at Indian Oil.He qualified as a lawyer in 2012 with an LLB from Chaudhary Charan Singh University.
Amarchand Mangaldas Mumbai office has hired SR :
began his career as a chartered accountant in 1994 after his BCom in tax, accounting and business laws at Berhampur University. He later obtained his LLB from Chaudhary Charan Singh University.
Can anyone tell whether CCS Univ conduct regular classes????
Clever drafting Kian
5 Partners, multiple Managing Associates, Senior Associates and Associates leaving in a span of 2-3 months...WOW! Let the bleeding re-commence!
Mr. Patnaik has not indicated (removed?) on LinkedIn.com the years during which he pursued his LLB. However, his profile does show that he worked without a break after his B.Com.
It wouldn't probably make a difference to her career if these are her choices.
If this is a serious question, although I have my doubts, go for Amity. But I would advise your sister to just see the options she has around her before committing to either of the two universities.
Haha.. How smart (read: sarcastic!!)
As for Luthra- people leaving is no longer news. People are unhappy. People will leave. Thats how it works. Hope that their new strategy (which they so adamantly profess) sees them through these troubled times else it might just mark the beginning of the end for this edifice that Rajiv has built. Losing hardworking and talented members is never a good thing.
Leaves the question as to why such extremely knowledgeable, helpful, hardworking and bright partners leave and why doesn't the firm cling on to such people? Is is a management thing? Professional aspiration (not being met by management) thing? Politics?
Insights? Thoughts?...
Leaves the question as to why such extremely knowledgeable, helpful, hardworking and bright partners leave and why doesn't the firm cling on to such people? Is is a management thing? Professional aspiration (not being met by management) thing? Politics?
Insights? Thoughts?...[/quote
L&L Management funda:
"The motivation" = "De motivation"
Thus the puzzle is solved.
Observer Luthra , it appears needs to rein in its HR and also stem the outgo of talent so that it does not go the way of Juris Corp which has lost all its talented partners and seniors within a little over a year. Hope Luthra learns its lesson from Juris Corps fate
Very demeaning for Luthra to be compared with Juris Corp which has no credibility in the market. Juris Corp has even reported different no of partners seniors in 2013 for different publications
eg RSG Rankings ( separate story by LI) 15 partners 62 lawyers
Chambers 11 partners 50 lawyers
IBLJ 10 partners 40 + lawyers
Their profile shows 9 partners and that too before the departure of Hufriz Wadia and closure of Chennai office
Luthra though having a few setbacks is far more credible an it is insulting to be compared with Juris Corp
No wonder Luthraites pissed off at being compared with Juris Corp since it has set new standards in lack of credibility and bad HR
"If you whip a tiger like a donkey, it is foolish not to expect a tiger chewing your hand off or the donkey submitting in compliance. I have found most men to be tigers." - Mocuente
Other firms merely give a tax disclaimer which results in documents being emailed to and fro between a client, law firm and CA ( ususally Big 4)firm and the "too many cooks Spoil the broth axiom" applies. It also escalates costs and sometimes important aspects "fall through the cracks"
A few years a small firm used by us called Juris Corp used to give such comprehensive excellent advice covering tax and transfer pricing since its then tax partner was a CA and a Lawyer. However I understand that after he left the firm it is like the normal law firm handing out tax disclaimers. Hope other firms take the lead from Amarchand and appoint competent Tax Practice heads
Even Juris Corp was a serious competitor about 2 years ago since it would also offer practical integrated tax and legal advice due to its tax partner (who was a Lawyer and CA)but after his exit from the firm it has become like the usual firms with lengthy tax disclaimers . Wonder why other firms are content to give legal advice without tax advice and do not follow the lead of AMSS and NDA
Mr Freddy Daruwalla , the former Juris Corp Tax Partner is now with Nasikwala Law office founded by Huzefa Nasikwala ( also a former Juris Corp Partner) and their firm Nasikwala Law Office, though a small firm also gives integrated legal and tax advice unlike the majority of firms
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