wohhhhhhhh!!!!!!!!!!!!!

Now thats some news..

Bloodbath has begun..!!

Finally he quits! The ranting will stop now. All CAMites & AMites, have been tired of his threats for many years now...

Zia is back.

Yikes - CAM is imploding !

So LV becomes only power centre now, after the shroffs

He is apparently CAM's highest biller. This is BIG news for AZB and Bad news for CAM. Clearly the no poach is dead.

"Ashwath Rau has informed the partnership today that he would resign"

"Rau has not responded to requests for comments for several days."

If Rau informed CAM only today, but Legally India has been asking Rau for several days - Kian, did you know/have an inkling beforehand?

Wait, what next? Leo Messi joining Real Madrid?

Can someone tell me which is the best firm to work in now?

How is B-Wing looking? #interestingtimes

Sabh ganda hai par dhanda hai ye!

Bharti Mata Ki Jai!!!!

It ain't over just yet folks. Some more to follow.

So much for the regular emails claiming CAM is at the top of M&A table and highlighted in bold that SAM is 15th. Hahaha. This is clearly a sinking ship

CAM single leader model just failed. The only people from his team who will not leave are the guys he does not consider good enough to take.

Surely some exits from AZB will happen - as clearly power centre in AZB will change now!

This is the end of CAM. With a few more successful raids SAM, KCO and JSA will now destabilize them. With a below par team in Delhi, this is major jolt.

CAM is going to reverse merge into Wadia Ghandy..

In the last 7 months, CAM has lost 2 CIO, their HR Director AND their Compliance Director also.

Kian, you should investigate THAT and write a story about it too...

This is like Steven Gerard joining Manchester United

Arbaaz- Malaika, Farhan-Adhuna, Anand Prasad-Trilegal, Som-JSA, Ashwath -CAM. The perils of stardom;)

Gautam Saha may now join CAM Delhi. You never know! ;)

two major exits likely from AZB and SAM. Watch out for more.

Any news on what will happen to his team?? He runs a firm within a firm and most of the partners and associates in AR vertical were there because of him!! Floodgates to open now?

Baith Jaiye..Baith Jaiye...Sabko expert comments dene ke mauka milega

This is like the last four sixes of WI in T20 finals. Unbelievable. AR must be fed up of bowing down to family partners and waited for non-poach to end. Poor maa'm must be busy wondering what to sms to all the associates.

"AZB Mumbai and Cyril Amarchand – or erstwhile Amarchand Mangaldas’ Mumbai office – had a long-standing informal no-poach agreement between Cyril Shroff and Zia Mody."

Clear for the CCI to investigate. lol

biggest blow possible to the shroffs in bombay!

The last biggie who quit AZB to SAM did not have a single follower. It will be interesting to see how many follow Ashwath.

Dear Kian

Since you have used breaking in other headlines before too, may I suggest that you use The term shattering or another word of similar meaning to justify how big this is and junior lawyers could appreciate the seriousness of the situation

Varoon Chandra has been made Equity partner. Ashwath has been poached! I am sure at least a few will follow with him. Clearly AZB is striking back in a big way! Where are the heros who were predicting AZB is over after Shuva left?! Oh that reminds me, wonder how that is going? Is Zia over or Shuva?

By the time most lawyers finish a decade, they'd have worked at at least 2-3 of the big firms, and they'll all acknowledge it's the same sh*te everywhere, just the livery changes.

It's crazy how poorly most law firms treat their people and get away with it it too, because most of us actually believe it's worth the extra money and fancy FB pics on the weekends.

As a famous person once said, "kyun kamaate ho? Kiske liye kamaate ho?"

#CabinWaapsi

Cam corporate story just ended. Azb just got itself a kickass corporate lawyer who will plug all exits. The average azb associate and partner bonus has gone through the roof given how much ashwath rau will expand their revenues. Zia - take a bow. Now if you could only plug your litigation partner gap and hire big there too. #AZB Rocks. The Queen Returns

They boy prince, sent by his Lord Father to unknown lands, surveyed his crew or sword swords and mercenaries, expensively arranged, looking all fierce and glittering and proud, in gold, and jewels and polished mail. For days they have plotted and drank his father's ale, and spoke long and proud of the famous victories and triumphs. They have showered him with platitudes, the "King in the North", the "King in the North". Victory over his evil uncle was just a matter of time.

He smiled and stepped forward to greet him, one of his Lord Father's loyal bannermen, a great warrior and Lord, tall broad shouldered and lightly bearded, a man who had fought long and hard at his Lord Father's side. He felt rather than saw, the long blade, freed smoothly and invisibly slip between his ribs. The tall Lord's eyes were locked on the young prince's as he twisted and turned the blade.

"Zia Mody send her regards.."

Zia is going to raid another office as well, this is the tip of the iceberg!!!

I read abt CAM and it reminds me of the Titanic... At one time the biggest and the best ship... Eyed and envied by one and all. Then hit by an iceberg (Mom's will and AZB).
We all know what happened next. People either started jumping out to save themselves or drowned with it. The management at CAM (if one really exists) needs to introspect before it gets too late and a lot of water seeps in from the cracks their own actions have created. The family cant expect to keep themselves as top priority and treat the rest as if they are doing a favour. There are places in the market which appreciate talent, if CAM does not, it had only itself to blame. N this cant be limited to only the partners. CAM needs to identify its stars throughout the vertical and keep its stars (and other partners/associates) happy.
Hope this move has some positive reaction from the managment, or else all is lost! Emerging star partners in the likes of Santosh, VP, Gurpreet, jejurkar and so so so many more are still there to hold the fort. You cant let them go, and u cant even let the emerging juniors go, or else these partners can do only that much!!!

Has anyone wondered how many are following AR to AZB? and how many will stay back?

I hear they ve been given the night to decide! true??

The common associates pray for experience, position and a bonus paycheck that never ends. It is no matter to them if the high lords play their game of thrones, so long as they are left in plenty.

It wouldn't be too much to assume that Ashwath being Ashwath would have asked for his name on the door. AZBA anyone? I'm betting 5 rupees on this.

Looks like "THE MADAM" cannot run an institution.

Taking a bigger office in Delhi, looking down on loyalist seniors in Mumbai/Bangalore, thinking that members of the support staff don't matter (HR Director, Compliance Director, etc), forcing the Mumbai/Bangalore partners to "make up the deficit of Delhi" by sweating harder, sending new Delhi partners on foreign trips while forcing loyal-for-years partners to stay in India because of "budget constraints", allowing that [...] of hers to run riot, and generally trying to make it look like "SHE" knows what she's doing is what has resulted in this mess.

I'm surprised how the generally astute "BIG MAN" can be so blind towards all this. Or maybe, he has no choice.

Either way, its all downhill from here. At best, they will remain a second tier firm.

"THE BIG MAN" taking in business development and execution, while "THE MADAM" going to manage the rest of the institution, was the biggest mistake made by the Shroffs in distribution of duties come CAM.

The clincher is: They are going to expand CAM Delhi by taking more space!

[...] from [...] is next. Mark this time and space.

What must Shuva think of this? He thought he was irreplaceable at AZB! This should show him!

Also speaks volumes of what Zia and Bahram think of the rest of the current M&A partners at AZB.

Some obvious analysis :

1. AR Leaves Cam with nobody to replace him at Cam. Either Cyril takes over (which he can't and wont) or gets a replacement. Who are the possible AR like options in the market? Shuva, Chudasama and may be one more (I can't think of anyone in the same league available and appropriate to be poached)-so we may see a move there - SAM is new in Bombay, Cam is a bigger and a more ready platform and the non-poach is over

2. JsA has no star left to shine-lot of bright associates but no star to inspire- Merger makes sense- AZB looks like a great option-

3. SAM- irrespective of what they try to sell, they are lacking business- they need to hire a few more rainmakers and if they lose Shuva or ChudasamA-they will be back shopping-

4. Foreign Firms-if they get a foot in the door, with the help of BCCi (heard it may happen in next 3 minths), they will look to acquire, Cam may need to fill the AR void if they want to sell and merge. Lot more will happen if that happens..

5. Behram is MIA for a long time. AR may be a part of replacement strategy. Also, Zia has nobody as a succesor, this may be a strategy to get back full scale and sell the firm once Foreign firms cone to shop

Just some random thoughts worth considering

Cam financial terms are now dismal. No one who can step into ashwath shoes. Nivedita is in Bangalore. Ravi and Shishir are too junior- clients will get shortchanged on experience. Less said about Delhi's poor quality.

Kian please publish my insightful comment on how gujju/marwari businessmen are exploiting south indians. About time Ashwath left and joined the more endangered Parsis.

At this rate Mr Shroff will never hit 1000 lawyers. Sigh.

Who did Cyril consult while coming up with "Single Leader" model -- may be Vandana and Rishabh?!?! ff started it all, and then the glorious Delhi team

My two bits as well;
1. Doesn't make sense for Ashwath's team to stay back. There is virtually one rainmaker left in CAM mumbai corporate which is Cyril himself and he can't feed his own team and Ashwath's team.

2. This is not the end of CAM. They have done well this year and can repeat this performance. Only cyril can't expect others to pay for his unilateral decisions and he needs to take better care of his people.

3. Delhi office is half mess, needs to be fixed immediately. Cyril should fire new Delhi partners who had made big promises.

4. Lots of Ashwath's relationships are co-led by Cyril so business lost minus Ashwath team cost might not be such a big number.

5. This gives cyril space to hire a big gun with decent equity or incentivise performance for existing guys like Ravi, Nivi, Reeba, Harry, and other worthy corporate partners.

1) All the insecure AZB partners, please stand up, please stand up;
2) All the current pappus dreaming of partnership at AZB, please sit down, please sit down
3) All the CAM pappus - [...]

We are hearing a lot about CAM Mumbai and CAM Bangalore and AZB Mumbai. Based on what is in the news, it's clear that the legal market is extremely unsettled in India. CAM today maybe SAM tomorrow….having said that, CAM needs to take a cue from SAM and AZB Mumbai and needs to be cognizant of the fact that the prime mistake it has made is that it has not hired heavy hitters at the very senior level (so called equity partner level) in Delhi - who ideally should be bringing in the work. Many of the younger lot (super junior to mid level to senior levels) hired are capable and have good skills but need to have a single good leader in Delhi who can run the Delhi office - someone very senior who can bring in big work and has a big name in the legal market in Delhi. CAM also needs to invest in its non-partner pool who has moved in and really needs to inspire faith and trust in them to grow - faith that translates to salaries and promotions promised especially given other firms are not batting an eye lid in announcing promotions including to partner level and giving comfort and motivation to its employees in the form of promotions and/or better salaries. If CAM wants to inspire confidence in its existing pool including in Delhi - it will need to do something about this given many careers are at stake - sometimes its not just about the firm's reputation - individual lawyers have their reputations too and it isn't fair for them to take the beating for decisions taken at a larger level in which they have no say. People move jobs because they are given better prospects and it isn't the most exciting thing to find this is not the case. With other firms promoting people in hordes - CAM needs to instill faith in the lateral hires. CAM can retain/regain its position at number 1 slot by making a few changes: (1) Get a good super senior leader from the Delhi market who is a capable leader, who can be trusted, can bring in big work (both domestic and international), and can run the Delhi office for the leadership in Mumbai; (2) Beyond a certain point people want to see results i.e. in the form of promotions and salaries promised within the timelines indicated and the Mumbai leadership should make good its promises to people who have been hired; (3) Nurture the existing talent at all levels in Mumbai, Delhi and Bangalore; (4) Hire many good freshers with proven skills from good law schools who can be of support to the mid-level and senior lawyers; (5) Have an equitable distribution of work. People who have come with teams across the board stand to benefit and people who have not should be given work by seniors. There are pockets of individuals with too much work and pockets who want to work but with too little work. This needs to be adeptly handled by the top management so that there is a more equitable distribution of work and maybe some semblance of a work-life balance for everyone. Getting a good leader at the very top level in the new office - a potential outside hire is the answer. (6) Focus focus focus on business development by the very senior equity level people. People are disheartened across the board and something needs to be done before its too late. If they don't, other firms like Khaitan, AZB, JSA and SAM stand to profit. The biggest mistake all Indian law firms make is not to treasure its employees - who are really the assets of the organisation. There are many good things about CAM too and it has the potential to do much better but unless the top management pays heed to these issues, it stands to pay the price in terms of reputation. It has chosen its location well in Delhi and now it needs to make some other good decisions before it bleeds. People are important and people should be well taken care of not just with good words but with concrete career progression, work, and good raises. Getting back to the original premise though - CAM today SAM tomorrow - it is a volatile legal environment and while CAM and SAM sound like exciting acronyms the message is clear - today CAM is taking the beating for being in the news and tomorrow it could be SAM or AZB or Khaitan or JSA - everything is temporary until there is some stability. While it would seem the above message is only for CAM - other firms need to watch out and take a cue lest they fall - and fall they will if they don't pay heed and lets not forget Cyril is the King of M&A and a good leader so while CAM maybe wounded right now - CAM very much has the ability to heal if it takes into account, listens not just with the ears but does something about the issues that concern people at large.

zia aunty sabko line pe laga detin hain, rau ki ego ki hava nikalne wali hai as zia aunty ke aage kise ki nahi chalti. all hail zia aunty...

based on satisfactory due diligence and independent verification, and not relying on representations and warranties provided by Madam Z, Sir A must have decided that this investment into AZB was commercially viable. In the event of facts not disclosed during the due diligence stage, he may not be able to seek indemnity.

Which cabin is he getting at AZB? And is his ego going to share it or will it get a separate cabin?

The new A in AZB !! (His words)

Bachhelog, now please get back to work. Bahut kaam karna hai,

AR is no doubt a brilliant Corp lawyer in the making, but CAM still has Cyril who is among the 2-3 best corporate law minds in the country...short term this will have an impact but will not change CAMs standing in the market or in the eyes of clients.

The update is that he comes with no special designation and lawyers coming along with him will have to work within the overall AZB pool culture. AR coming will bring to a quick and deserving end to the pampering that the other AR was getting at AZB. Z is open to her other lethargic partners quitting and wants to make this a performance play. Junior partners at AZB are left rudderless, since they will have to compete with the ruthless CAM partners - who are also good. SA's and PA's at AZB - lost totally. Z did not discuss this move with other equity partners including named partners, has muddied waters at AZB for sure.

almost 280 comments!! Is that a record, Kian?

So what's he going to be called? Pope Shuva Mandal II?

SAM merging with AZB in May? Something big is brewing up, that's a surety.

Rumour is that Cyril is convincing Uma Kant to rejoin as a full equity partner. Now, that will be a game changer..The prodigal son returns!

I also want to comment. But i don't give a sheet.

Umakanth Amarchand naam hoga toooh aunga....