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Luthra gets new cap markets group head from Shearman

Luthra & Luthra is ramping up its Mumbai capital markets practice after hiring alumnus and new group head Manan Lahoty from US firm Shearman & Sterling in London.

Lahoty (pictured) will lead the Mumbai capital markets team of five associates, reporting to capital markets partner Madhurima Mukherjee in Delhi and her team of 10 lawyers.

Until now, Mukherjee had managed the Luthra & Luthra Mumbai team from Delhi but she admitted that this was difficult to do from a distance. "When Manan wanted to come back the logical choice was to send him to Bombay," she said.

"In many ways it is an expansion," explained Mukherjee. "We are going to be working very closely together and he's really going to add to the Bombay team."

Lahoty was a member of Mukherjee's team at Amarchand & Mangaldas & Suresh A Shroff & Co and joined her when she left to Luthra & Luthra in Delhi in 2006 with her associates.

Shortly afterwards, Lahoty then joined Shearman in London where he worked as an associate in the corporate finance group for around 19 months.

Lahoty said: "In my mind what I really wanted to do, was to have exposure to and build my experience of capital markets transactions and regimes. Shearmans was able to offer me a fantastic platform not being far from US and India and in London"

He told Legally India that he returned from London as he saw deal flows there thinning, although he continued hearing about Indian corporates wanting to raise funds.

Shearman's London deputy managing partner Richard Price worked with Lahoty in London and commented: "We wish Manan every success for the future and hope that his career continues to flourish in India. We thank him for his significant contribution to our practice and we were sorry to see him leave us."

Lahoty will start with Luthra & Luthra next week.
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