Law firms

Turnovers at India's top 50 corporate law firms range from $500,000 (Rs 2.2 crore) to $40m (Rs 181 crore) with aggregate revenues of all firms amounting to $350m (Rs 1590 crore), estimated an analyst report on the Indian legal industry.

Davis Polk, J Sagar Associates (JSA), Lexygen and a raft of overseas firms have advised on the Morgan Stanley-led consortium's $425m (Rs 1,900 crore) investment in Indian power company Asian Genco.

Wadia Ghandy & Co has promoted corporate senior associates Xerxes Antia, Shabnum Kajiji and Fariyal Tahseen to its partnership.

The top 100 Indian companies are set to spend an estimated $479m (Rs 2,200 crores) in legal fees of which half will be billed by foreign firms, predicts an analyst report on the Indian legal market.

J Sagar Associates (JSA) spin-off M Dhruva & Partners has recruited a corporate partner, its first senior associates and two associates as the firm has begun its transformation to full-service outfit.

Amarchand Mangaldas has announced variable compensation to salaried staff on Friday with total rewards up to 80 to 95 per cent of maximum levels, as the firm is expecting a record turnover for the 2009-10 financial year.

Luthra & Luthra has leased another half-floor of 7,000 square feet in its Delhi office.

Trilegal has promoted the second woman to its partnership, as Bangalore corporate senior associate Kosturi Ghosh has swelled the senior ranks to 16.

Khaitan & Co has hired ex-bureaucrat and lawyer Dr PK Agrawal as partner to head its real estate practice in Delhi.

Luthra & Luthra, Amarchand, Kochhar and Titus have emerged as likely candidates to qualify for the quarter finals of the Society of Indian Law Firms (SILF) – Khushal T-20 tournament in Delhi after winning all matches played to date.

Luthra & Luthra has advised Abbott Laboratories in its 20 per cent open offer of the Indian subsidiary of Solvay Pharmaceuticals as part of the €5.2bn global acquisition of the Belgium-based pharma company.

Vaish Associates has started a Mumbai indirect tax practice in its new Parel office with the hire of Paras Kuhad Associates partner Shilpa Sharma.

Amarchand Mangaldas and K&S Partners steamrollered Desai & Diwanji and Sai Krishna Associates respectively with over 200 runs, in two of last weekend's six matches between 12 teams at the Society of Indian Law Firms (SILF) – Khushal T-20 cricket tournament in Delhi.