Dual England and India-qualified Prasad, who has handed in his resignation according to multiple sources, was promoted to Amarchand’s partnership in April 2010.
He specialises in M&A and private equity and joined the firm in 2006 as an associate from Trilegal, having completed his law degree from University Law College of Bangalore University in 2001.
At Khaitan & Co’s Bangalore office, which recently moved into a larger office space following two lateral partner hires, Prasad would focus on expanding the South India practice of the firm from early 2012, according to sources.
It is understood that independently of Prasad, one Mumbai Amarchand partner had also recently tendered their resignation but was ultimately persuaded to stay with the firm.
Prasad, Amarchand and Khaitan & Co declined to comment when contacted.
In October of last year Legally India reported Khaitan hiring AZB & Partners corporate and private equity partner Vaishali Sharma in Mumbai.
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I recall about the initial years of AZB (then CZB & Partners) around the year 2002. They were bringing on board people by giving them salaries much more above market standard. Seems that was being paid from its capital as AZB was not big at that point of time, it is today!
Khaitan is a great firm, has one of the lowest attrition rate and has come up before some of these hirings. I am sure we are going to see rise of a formidable firm in Khaitan, and a genuine alternate to AMSS and AZB.
One should rather focus on why such senior level professionals are quitting, no one seems to care or bother about that. Kian, perhaps you should have story either here or on Mint to cover this issue.
Parikshit Singh
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