Corporate principal associate Ashish Razdan and banking and finance principal associate Kumar Saurabh Singh have been promoted to the non-equity partner level.
Singh joined Khaitan in June 2010 after four years in the in house legal team of ICICI bank. He had graduated from NUJS Kolkata in 2005.
Razdan and Singh were not available for comment at the time of going to press due to an office retreat in Jaipur.
The firm has already had a round of internal associate partner level promotions in March and April this year, with two new associate partners made in Mumbai and three in Delhi.
It had also made up two Mumbai partners into equity in June, and hired a litigation partner in Delhi.
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Hmm, the tone of this comment and another one below suggests khaitan staff is doing some PR work!
If at all you're an insider, you must be from the Pune office since this is what you believe re remuneration :D But you do have a point when it comes to functional autonomy of some (mind you, not all) of the newer partners. But perhaps that is a result of a bit too much a bit too early in those cases.
A lots in a name I guess. If an associate is partner material than she or he should be partner, period. Like someone commented above, Indian firms are so insecure that they find any pretext to not make a true partner but add these fake designations which denote very little without having to admit an increase in the legal partnership. Seems to me it is a worthless 'promotion' given for the sake of creating more hoops. AMSS, JSA and AZB have other problems in their partnership but at least they cannot be accused of cooking up stupid labels like 'Ass. Partner'.
This "worthless promotion" is a recognition of the fact that these two have been performing and its the best way to gradually integrate them into the equity partnership.
Well done Ashish Razdan..
Yes, AMSS and AZB does not have designations such as Associate Partner. However, does that mean the people they call Partner are all partners? I am not sure how senior you are in the profession, most likely you are not very old into the profession and hence don't know that in AMSS most of the so called "partners" are not "real" partners, they are salaried, their bonus dependent on their performance which is evaluated by "real" partners. So its really the same thing! Until one gets into the equity partnership, its the same story everywhere!!
Khaitan is only Indian firm to have over 60 EQUITY partners. All the associate partners are celebrated as much because everyone knows that are path of equity partnership in couple of years. The firm rallies around to groom these individuals.
It's a far better model to give tag of "partner" but make them salaried.
And yes I am an insider - and thus information is not with few - everyone knows it.
What do you mean by equity partner? If you were an insider, you would know. In the pure sense, do the equity partners have a share in all profits, a share in the goodwill, a common balance sheet? You may be an "insider" but have no clue on the layers of so called equity partnership models existing in these firms. End of the day, its the Khaitan/Jhunjhunwala family members having actual control and having "real equity" (I may add Kulkarni to that, but only to the extent of Mumbai office)
60 equity partners? Isn't the maximum number of partners limited by law to 20?
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