The Financial Times’ Mumbai correspondent James Crabtree visits Amarchand Mumbai’s top husband and wife team Cyril and Vandana Shroff at their home, documenting their symbiotic working relationship, decorating nous and fondness for all things elephant-themed, for the business paper’s House & Home supplement. And it’s certainly more candid than anything that has appeared on the family in a domestic national newspaper.
The article is therefore definitely worth a read for anyone interested in the closest thing Indian corporate law has to a royal family. Two excerpts, ranging from interpersonal to the macro:
“The couple have a habit of finishing each other’s sentences, although in conversation Cyril’s manner is courtly and precise, while his wife can be more barbed – a stylistic difference that extends to their respective working styles as well. “It can ruffle feathers,” she admits. “I am a straight shooter, and blunt. Most people like to pussyfoot.”
A common friend came to us a while back, wanting advice,” says Cyril, by way of an example. “And I gave him the pros and the cons,” he says, before Vandana interjects, “ … and two pages of bullshit.” Cyril continues: “And she met him for just 30 seconds and said, just do this. And so he did that, and it worked out well.” […]
Still, he rebuffs the suggestion that family ownership will limit his company’s expansion plans, even when it faces new competition from international legal groups, which he expects to be allowed into India’s market “towards the end of this decade”. Amarchand already has 89 partners, says Cyril, almost all of whom are not family members, while its family heritage provides advantages in a country where most businesses also remain family-owned.
“These are relationships of trust, built up over a long period of time, when you know each other and you know what you stand for,” says Cyril. “We are a repository of many a secret … but you have to keep them. They’re not your secrets to reveal.”
Comments
And featured their cars as well !!
Are you from one of those competing law firms hoping that this maligning would induce the clients to look elsewhere? AMSS is a powerhouse and instead of passing derogatory remarks work towards building your firms potential to compete with AMSS!
http://www.geocities.ws/kream77/amarchand.html
Departure of MP Bharucha:
http://www.dnaindia.com/money/report-mum-on-split-m-p-bharucha-takes-law-into-his-hands-1157744
If you claim people are unhappy at AMSS why hasn't any big partner left. At partner level in recent years attrition is near zero.
Amarchand has few BIG equity partners so lets look at it as a percentage, rather than as a "near zero" number. Bharuchas left, despite MP Bharucha being the top partner after Cyril. Ciccu left, despite being head of litigation. They sowed their plans "long term" and quit when they reaped. There can't be any bigger names, except maybe "star" Rahul Guptan, who left for Clifford Chance.
[quote]Still, he rebuffs the suggestion that family ownership will limit his company’s expansion plans, even when it faces new competition from international legal groups, which he expects to be allowed into India’s market “towards the end of this decade”.[/quote]
Considering the Shroffs' close ties to the new government and their traditional opposition to the entry of foreign firms, this is certainly significant and allows for some speculation. Perhaps Cyril Shroff / Amarchand now feel that the firm is strong enough to take on the foreign firms, or perhaps they know that in any case the point is moot with the incoming BJP government, which is unlikely to make any moves towards liberalisation this term?