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Luthra launches radical strategy shake-up after ‘profitability beating’: promotes two partners, 17 associates

Saraf: Aims to increase margins
Saraf: Aims to increase margins

Luthra & Luthra has promoted two M&A and private equity lawyers – Damini Bhalla and Amit Shetye – to its partnership, as the firm has widened its executive committee and management outlined a strategic vision to ditch lower margin work and eschew big headcounts.

Bhalla initially practised in Luthra’s Mumbai office, then spent two years in Clifford Chance in London, before returning to Luthra in Delhi.

Shetye joined Luthra in 2007 from ICICI Bank in Mumbai.

Bhalla and Shetye both graduated in 2005, from Nalsar Hyderabad and ILS Pune respectively. Last year Luthra had promoted a total of six to partner.

The firm promoted eight lawyers to managing associate, and nine to senior associate level (see below).

Luthra also expanded its executive committee from three partners – managing partner Rajiv Luthra, senior partner Mohit Saraf, and Delhi project finance partner Sameen Vyas – to six, by adding Mumbai projects partner Vijaya Rao, Delhi corporate partner Samir Dudhoria, and Delhi regulatory partner Sundeep Dudeja.

Saraf said that Saturday (3 August) began with a “big town hall meeting”, with nearly all lawyers and support staff from all offices flying into Delhi. “Everybody got together, discussed directions of the firm, restructuring, and what we expect in the market.”

The promotions were announced later that day at an evening function held at the Sheraton hotel, at which several awards were also handed out to lawyers in the firm.

The intellectual property and IT team under partner Gayatri Roy won the team of the year, and Mumbai banking and finance partner Bikash Jhawar was given the ‘partners solitaire’ award – “the highest award we give to anybody” in the firm, said senior partner Mohit Saraf, for “the way he built the business, the way he built the team, the next level in client services, all those leadership qualities”.

Strategy

Earlier on Saturday Saraf said he had announced a radical realignment of the firm’s strategy after the firm had grown too large for the past few years, “spreading too thin” in terms of the work it did.

“Our profitability has taken a beating,” he admitted, adding: “We understand that in 2013 the level of things have to be far better if we want to be ahead of the curve. How do you transform this firm as a go-to-firm for all transaction matters in corporate law?”

The strategy going forward would neither focus on being the largest firm in headcounts nor offices – it currently has offices in Delhi, Mumbai and Bangalore – explained Saraf and Rajiv Luthra. Instead it would “do very niche transactional” work at high billing rates and not compete on price with rivals.

“The biggest pressure was that [other comparable-size firms] was dropping rates on anything, and we don’t want to stay in that market. That is not our market, not what we are known as,” noted Saraf. “Routine matters do not actually give you an opportunity of what value you can bring to the table.” Therefore, Luthra would get out of routine matters and “focus on very high-end transactional work”. [Clarification: Saraf has clarified that he intended to refer to pricing pressure across the industry, rather than just pricing pressure from one firm]

Rajiv Luthra commented that over the years the firm gradually started getting into bulk and lower-margin work. “Now we are trying to get out of that because it takes the same management time and rather than have a vision of a 1,000 lawyer firm […]. We felt, let’s focus on the 80/20 rule” – the principle that 20 per cent of clients in most organisations generate 80 per cent of revenues.

“[The idea is not] that we stop small work completely,” he clarified. “The idea is to do small work for big potential clients. But not do small work for small clients who have no potential. [To] focus on the 20 per cent, rather than the 80.”

[Detailed analysis of Luthra’s new strategy coming soon]

Legally India reported yesterday that one partner – Nivedita Tiwari - had joined smaller firm MNK Law Offices, and two others were due to leave the firm in the coming months.

J Sagar Associates (JSA) had promoted 18 into salaried partnership and two into equity, Amarchand Mangaldas had promoted 13 to partner in July, Trilegal none, Khaitan two into equity and five into salaried level, AZB a total of five.

New Luthra managing associates:

  • Anshul Jain (regulatory)
  • Kaushik Laik (capital markets)
  • Khushi Mishra (insurance)
  • Nirupam Lodha (intellectual property)
  • Vaibhav Suri (real estate)
  • Vishal Yaduvanshi (capital markets)
  • Atul Ninawat (direct tax)
  • Gunjan Mishra (indirect tax)

New senior associates:

  • Sujatha Balachander (litigation)
  • Garima Chauhan (tax)
  • Manshoor Nazki (capital markets)
  • Mayank Aggarwal (tax)
  • Komal Mehta (capital markets)
  • Priyanka Singh (project finance)
  • Vivek Aggarwal (corporate compliance)
  • Apoorve Vashistha (litigation)
  • Vardhan Tulsian (litigation)
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A 9-word comment posted 8 years ago was not published. [Appeal decision]
12
Like+5 Object-0 Car man 8 years ago  interesting
What ? No more BMW gifts ? Heck!
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13
Like+4 Object-3 Anon 8 years ago
For a number 5 pr 6 player this is exactly the wrong strategy. Moving to a premium strategy is a luxury only top two firms have. In a recessionary market with excess supply of lawyers , one has to be crazy to move to a premium strategy as a number 5 firm. . Very tough days ahead for the firm . This is an absolute disaster for Luthra. Expect massive more attrition which will Show up at Khaitan and Amss . The best will leave very quickly. Not that there are many good ones left.
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13.1
Like+23 Object-9 Alias 8 years ago  interesting  top rated  controversial
Well to me Luthras strategy seems to be this - be lean, fewer people would mean less pressure to chase multiple deals, less pressure on margins. India is not going to see 5+ GDP number for a long long time and choosing to be lean in such a market is not really a bad idea. Also they may not have chart topping deals in MnA and PE for the last couple of years, but they remain a powerhouse in banking, projects etc. Also got to give the guys credit for giving an honest interview - how many managements will openly admit that profitability is a problem. I think accepting a problem is the first stage in fixing it. It also leads me to believe that Rajiv and Mohit may increase their own presence on deals. I know 2-3 years back Cyril was very worried about losing the MnA space to Zia and that brought back his focus to it - the results are showing today.
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13.1.1
Like+5 Object-3 Anonymous 8 years ago
Quoting Alias:
It also leads me to believe that Rajiv and Mohit may increase their own presence on deals.

To do what? How will they (especially Rajiv) contribute? Don't you know Rajiv Luthra is a law graduate from Agra University (of all places)!
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13.1.1.1
Like+8 Object-4 Way to go Agra! 8 years ago
Quoting Anonymous:
Quoting Alias:
It also leads me to believe that Rajiv and Mohit may increase their own presence on deals.
To do what? How will they (especially Rajiv) contribute? Don't you know Rajiv Luthra is a law graduate from Agra University (of all places)!


And yet he set up a Tier 1 firm of 200 lawyers! Clearly your degree from (presumably) an ivy league hasn't taken you too far.
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13.1.1.2
Like+0 Object-0 Scooter 8 years ago
Such a foolish comment! go check out where these guys are from!
supremecourtofindia.nic.in/judges/judges.htm
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13.1.1.2...
Like+4 Object-0 xyz 8 years ago
so you do credit the current state of our judiciary to these colleges?
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13.1.1.2...
Like+1 Object-0 Scooter 8 years ago
If the the current state of the judiciary does not satisfy you (I would agree with you that there are valid reasons), check the background for the ones you do like....

I am from one of the N law schools, so I'm not making a case for myself. Just that summarily rejecting the competence of people who are not, is naive and arrogant.

As most other people, I know people from N schools who are lousy at their work, and people from non-N schools who are fantastic.
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13.2
Like+4 Object-1 In House Counsel 8 years ago
Completely agree with Anon, and think that Luthra is making a strategic error here. Very few companies are looking to sanction premium rates for legal advice in this economy, and highly unlikely that there will be enough premium work in the market for 4-5 firms with the same strategy. AZB (most obviously), SNR, Trilegal, AMSS Mumbai, TTA, Platinum, Bharucha, all follow this strategy to a certain extent. Note that the firms in the list are either rated higher on pretty much every count on pretty much every ranking or are smaller than Luthra in terms of overheads, with strong foreign firm ties. Given this competitive landscape, focusing on high end work can only mean pain ahead for the firm in chasing big deals alone.

On Alias' point on choosing to be lean, there is absolutely nothing wrong with it, IF the firm is geared for it. Currently, I don't think it is, with far too much emphasis on the rainmaking abilities of a select few partners. As for admitting a problem with profitability, it seems pretty much standard these days, with every firm globally using this as a basis (justified or unjustified) to trim staff numbers.

Very interestingly, there are very few firms that seem to have thought laterally, and figured out different revenue raising models. While the LPO experiments seem to have not borne fruit, there are various other disruptive mechanisms that companies are happy to try out to obtain cost savings. Maybe a little actual thought leadership would help?
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13.2.2
Like+1 Object-0 Anon 8 years ago
Quoting In House Counsel:
Completely agree with Anon, and think that Luthra is making a strategic error here. Very few companies are looking to sanction premium rates for legal advice in this economy, and highly unlikely that there will be enough premium work in the market for 4-5 firms with the same strategy. AZB (most obviously), SNR, Trilegal, AMSS Mumbai, TTA, Platinum, Bharucha, all follow this strategy to a certain extent. Note that the firms in the list are either rated higher on pretty much every count on pretty much every ranking or are smaller than Luthra in terms of overheads, with strong foreign firm ties. Given this competitive landscape, focusing on high end work can only mean pain ahead for the firm in chasing big deals alone.

On Alias' point on choosing to be lean, there is absolutely nothing wrong with it, IF the firm is geared for it. Currently, I don't think it is, with far too much emphasis on the rainmaking abilities of a select few partners. As for admitting a problem with profitability, it seems pretty much standard these days, with every firm globally using this as a basis (justified or unjustified) to trim staff numbers.

Very interestingly, there are very few firms that seem to have thought laterally, and figured out different revenue raising models. While the LPO experiments seem to have not borne fruit, there are various other disruptive mechanisms that companies are happy to try out to obtain cost savings. Maybe a little actual thought leadership would help?

Can't agree about Bharucha and Trilegal. Platinum, TTA, S&R and AMSS Mumbai, most certainly
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14
Like+7 Object-3 Anon 8 years ago
Nonsense, seems true to the name! Clearly motivated with some personal agenda, Nonsense seems to be taking Luthra's Capital Markets success personally. Dude, if pricing was the only thing that won work, why were you not attempting to get some for yourself. Drop it man...and lets see you steal some work off Luthra?! Quality mein problem hain kya? sour grapes? bechara.
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15
Like+7 Object-14 nanny 8 years ago  controversial
Luthra pays well and ensures good work for it's non-equity partners. You don't hv kids running helter-skelter for work internally. You don't have partners suddenly dumped with revenue responsibility and with no training other than execution. You have a culture where strong women are celebrated and not seemingly collegiate atmospheres formed by women dumbing down. You don't have hiring for show and then easing out slyly. All these are features of one or other of the competing firms.Luthra has done a lot for law school alumni in terms of compensation, training and dignity. Just putting a perspective.
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15.1
Like+5 Object-1 Abandon Ship 8 years ago
Quoting nanny:
Luthra pays well and ensures good work for it's non-equity partners. You don't hv kids running helter-skelter for work internally. You don't have partners suddenly dumped with revenue responsibility and with no training other than execution. You have a culture where strong women are celebrated and not seemingly collegiate atmospheres formed by women dumbing down. You don't have hiring for show and then easing out slyly. All these are features of one or other of the competing firms.Luthra has done a lot for law school alumni in terms of compensation, training and dignity. Just putting a perspective.

I seriously hope that you are being sarcastic. What you said is the ACTUAL REALITY there.
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15.2
Like+5 Object-1 my god! 8 years ago
Quoting Anon:
Nonsense, seems true to the name! Clearly motivated with some personal agenda, Nonsense seems to be taking Luthra's Capital Markets success personally. Dude, if pricing was the only thing that won work, why were you not attempting to get some for yourself. Drop it man...and lets see you steal some work off Luthra?! Quality mein problem hain kya? sour grapes? bechara.
Quoting nanny:
Luthra pays well and ensures good work for it's non-equity partners. You don't hv kids running helter-skelter for work internally. You don't have partners suddenly dumped with revenue responsibility and with no training other than execution. You have a culture where strong women are celebrated and not seemingly collegiate atmospheres formed by women dumbing down. You don't have hiring for show and then easing out slyly. All these are features of one or other of the competing firms.Luthra has done a lot for law school alumni in terms of compensation, training and dignity. Just putting a perspective.
how much did they pay you to write this? or is this the text of the resolution passed in the new exec committee???
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16
Like+5 Object-1 Dazed and Confused 8 years ago
People should acknowledge Luthra's leadership in being straight about the economic issues the firm and the market faces. Their chosen re-direction may be wrong, their self-image inflated, but they deserve some credit for speaking clearly about market conditions and their attempts to respond to them.

The "leading" firms all get the bulk of their best domestic deals through ethnic ties, social connections and the power of monopoly. Rajiv can very well look at the landscape, decide on the right size for the firm, and scale back until better times return. It's a good call.

The folks in charge of day-to-day at the firm have lost the battle to be a workplace of choice, and so they are losing very desirable work to smaller outfits with better-trained and experienced associates who balk at old-fashioned naukri. They seem especially vulnerable to this trend.

Rajiv is probably better served by scaling back the law firm significantly and concentrating on government relations work that can sustain higher fees and a more flexible business model.

Frankly, this is just business. Anyone who is ranking the "top five" in a closed market lacks a basic understanding of how monopolies work. Rajiv's just re-calibrating his slice of a smaller pie. The market should appreciate his honesty (in this regard), which is distinctive in India.
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17
Like+3 Object-3 Aside 8 years ago
Strategy aside, why is Madhurima Mukherjee not on the exec committee? Is she not one of the original BMW partners?
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17.1
Like+3 Object-0 Guest 8 years ago
ya....but clearly not favourite enought to be on this committee.
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17.2
Like+8 Object-14 to the point 8 years ago  controversial
ha ha ha..agree. did she not manage to suck up enough or keep her mouth shut often enough to be on the Exec Committee! Good plan not to get her on. She may have spoken the truth too often and that hurts, man!
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17.2.1
Like+7 Object-8 anon 8 years ago  controversial
kian- u must censor random personal comments.
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17.2.2
Like+15 Object-7 Wonderer 8 years ago  interesting  controversial
Its Luthra's loss. Madhurima on a exec committee is better than madhurima in some other firm. Wonder why she would tolerate this insult. Capital markets is down globally. Not her fault. I am sure Mohit cant deal with her IQ and is just plain scared of giving her more say...
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A 15-word comment posted 8 years ago was not published. [Appeal decision]
17.2.2.1
Like+5 Object-1 Anon 8 years ago
Quoting Nostradamus:
In five years Luthra will not even be in the top 15 firms. Having decided to stop growing its now a slippery slope. A small firm like platinum can grow big. A big firm can never become small without destroying itself. End of the road soon for them . Sad.
Quoting Wonderer:
Its Luthra's loss. Madhurima on a exec committee is better than madhurima in some other firm. Wonder why she would tolerate this insult. Capital markets is down globally. Not her fault. I am sure Mohit cant deal with her IQ and is just plain scared of giving her more say...
She may not want to be on it as well!
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17.2.2.1...
Like+1 Object-0 strange 8 years ago
am i the only one who is sensing these comments are written by the same person?
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A 20-word comment posted 8 years ago was not published. [Appeal decision]
18
Like+8 Object-3 Nostradamus 8 years ago  interesting
In five years Luthra will not even be in the top 15 firms. Having decided to stop growing its now a slippery slope. A small firm like platinum can grow big. A big firm can never become small without destroying itself. End of the road soon for them . Sad.
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A 27-word comment posted 8 years ago was not published. [Appeal decision]
19
Like+15 Object-2 Robot 8 years ago  interesting  top rated
Quoting Guest:
Where is TRILEGAL???
Delhi, Mumbai, Bangalore and Hyderabad.
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20
Like+2 Object-2 Anon 8 years ago
a partner bikash given some fancy-schmancy named award...was it a BMW or an Audi this time around?
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21
Like+0 Object-1 Scooter 8 years ago
What ambition! Cutting down! wah.
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22
Like+10 Object-3 RSG 8 years ago  interesting
No doubt Luthra has some big foreign clients with deep pockets, but will be very surprised if they can pull off this new strategy. I fail to understand how they intend to “do very niche transactional work at high billing rates" when two of their teams comprise of capital markets (ready to work for anything) and project finance (again, ready to work for anything).

They seem to be going for a high risk - high reward strategy, given the competition and the limited options available otherwise. But at the same time, they ought to take into note that gone are the days when you could charge exorbitant rates in standard PE/ MnA transactions.
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23
Like+3 Object-1 Yawn 8 years ago
This all sounds like very entertaining PR. Will Luthra actually start turning away work because of low fees. Lets wait and see.
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24
Like+10 Object-1 Common man 8 years ago  interesting
Interesting that a firm other than Amss is getting stick on legally India comments. Luthra is strangely in good company by being a popular target this week. Amss needs a breather, nobody gives a damn for azb these days. Not sure Amss is too proud of the company though. Hilarious circus this is. Think of the mango public. Nothing changes for him. Life goes on as before. Kian next week do K co ! Need some fun ?
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24.1
Like+2 Object-1 Genuine Query... 8 years ago
Apart from M&A and Project Finance, will Luthra be ramping up primary practice areas like litigation and conveyancing (real estate) in places like Mumbai as well or will it be limited to Delhi only? Does Luthra still aim at being a full service law firm or has it now turned into a corporate and finance boutique?
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24.2
Like+4 Object-0 Mango Public Party 8 years ago
In Luthra's case this seems to be a different league of vituperative railing. Eye opener.
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24.2.1
Like+4 Object-0 Duck 8 years ago
'vituperative '.... nice word that!
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24.3
Like+0 Object-1 In House Counsel 8 years ago
Quoting Common man:
Interesting that a firm other than Amss is getting stick on legally India comments. Luthra is strangely in good company by being a popular target this week. Amss needs a breather, nobody gives a damn for azb these days. Not sure Amss is too proud of the company though. Hilarious circus this is. Think of the mango public. Nothing changes for him. Life goes on as before. Kian next week do K co ! Need some fun ?

Just wait for the next articles on Trilegal or Khaitan...
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24.3.2
Like+6 Object-0 Insight 8 years ago  interesting
Seems to me most people here are ex LL/ LL. Trilegal/ Khaitan articles will have mudslinging across firms, not dirty laundry being aired publicly. I've read things here which've shocked me.. an article about strategy and promotions has become about revelations and very poor press.. you cannot slap around subordinates and expect them not to find a way to air grievances.. this was probably happening earlier, but now it's reaching a wider audience.. In some way - congratulations LI for many small 'breaking news' items in the comments!
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A 28-word comment posted 8 years ago was not published. [Appeal decision]
25
Like+0 Object-0 Comments 8 years ago
Hi Kian. Is there any way to read the latest comments first (like a sort by date feature)?
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25.1
Like+0 Object-0 kianganz 8 years ago
There is, sort of... Below the comments there is the 'comments RSS feed link', which gives you a reverse chronological view (or you can put it in your feed reader, to get an update of only new comments).

www.legallyindia.com/index.php?option=com_jcomments&task=rss&object_id=3886&object_group=com_content&format=raw
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26
Like+18 Object-1 bull 8 years ago  interesting  top rated
Clearly messed up. Promise salary revisions that don't take place, arbitrarily enforce a bond that appears to be in restraint of trade, and hold these large meetings to air grievances, only to smugly rebuff everything said with 'be happy that your salaries aren't being cut in these times'. Luthra might as well scale back, it isn't fit to be a top 5 law firm, in terms of quality of management at least, even in a closed economy where the top 5 aren't exactly gold standard.
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26.1
Like+1 Object-0 Get Real 8 years ago
Quoting bull:
Clearly messed up. Promise salary revisions that don't take place, arbitrarily enforce a bond that appears to be in restraint of trade, and hold these large meetings to air grievances, only to smugly rebuff everything said with 'be happy that your salaries aren't being cut in these times'. Luthra might as well scale back, it isn't fit to be a top 5 law firm, in terms of quality of management at least, even in a closed economy where the top 5 aren't exactly gold standard.

Add to that practice heads who are more concerned with their OWN personal agendas and selfish goals rather than the growth of their respective practice groups or members in the same.
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27
Like+2 Object-3 Well wisher 8 years ago
Haha is luthra even in the top 5 its mumbai office is smaller than trilegal even
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27.1
Like+1 Object-0 Shoot & Scoot 8 years ago
FYI Trilegal has fairly large & robust Mumbai office...
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28
Like+19 Object-0 Donkey 8 years ago  interesting  top rated
You know something is fundamentally wrong with a corporate commercial firm when the team of the year is the IP practice, which BTW has lost more than half of its member including a partner and all but one MA (two now)!!!

The attrition in L&L has been accelerating year on year...the management finally smelt the coffee and decided to call it 'strategy'.
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28.1
Like+0 Object-0 Querist 8 years ago
Quoting Donkey:
You know something is fundamentally wrong with a corporate commercial firm when the team of the year is the IP practice, which BTW has lost more than half of its member including a partner and all but one MA (two now)!!!

The attrition in L&L has been accelerating year on year...the management finally smelt the coffee and decided to call it 'strategy'.


Why have so many people left? They had quite the formidable IP team.
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28.1.1
Like+5 Object-2 S 8 years ago
"Formidable" - exactly which domain of IP were they formidable in?
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28.2
Like+1 Object-1 avr 8 years ago
Quoting Donkey:
You know something is fundamentally wrong with a corporate commercial firm when the team of the year is the IP practice, which BTW has lost more than half of its member including a partner and all but one MA (two now)!!!

The attrition in L&L has been accelerating year on year...the management finally smelt the coffee and decided to call it 'strategy'.



3 MA's from IP so far ;-)
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29
Like+2 Object-0 RocKandrolL 8 years ago
Wake up and smell the coffee, my friends. Yours must be getting cold. Can't blame ya. It must be the storm on our horizon.

articles.economictimes.indiatimes.com/2013-07-30/news/40895629_1_banking-licence-job-market-fresh-hiring
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29.1
Like+0 Object-0 Anon 8 years ago
:-) :-)
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30
Like+4 Object-4 LI ki le li 8 years ago
Go Mohit

One of the most honest interviews given, by any senior partner in the recent past, and I am sure Mohit with his flair, aggression and brilliance will pull it off, again. He is clearly acknowledging that profitability has taken a hit and putting in place a course of action which will enable Luthra to see the storm off. Guys – if you recollect, just a decade ago, L&L was only know for projects related work and it was Mohit who had the vision to make L&L a full service firm and started mobilizing resources and now they are in the top league (i.e. - a decent alternative to the AMSSes and the AZBs – both for clients and lawyers alike). A firm which grows aggressively is bound to face consequences – and this is more of a consolidation period. I think by emphasizing on the focus on niche work and profitability he is intending to get rid of the deadwood in the firm and put the firm back on track.
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30.1
Like+4 Object-0 Hold on hope 8 years ago
Quoting LI ki le li:
Go Mohit

One of the most honest interviews given, by any senior partner in the recent past, and I am sure Mohit with his flair, aggression and brilliance will pull it off, again. He is clearly acknowledging that profitability has taken a hit and putting in place a course of action which will enable Luthra to see the storm off. Guys – if you recollect, just a decade ago, L&L was only know for projects related work and it was Mohit who had the vision to make L&L a full service firm and started mobilizing resources and now they are in the top league (i.e. - a decent alternative to the AMSSes and the AZBs – both for clients and lawyers alike). A firm which grows aggressively is bound to face consequences – and this is more of a consolidation period. I think by emphasizing on the focus on niche work and profitability he is intending to get rid of the deadwood in the firm and put the firm back on track.



Define "Deadwood"!!

[...] There is no doubt about [Mohit's brilliance]. His vision is dynamic. The only problem - He relies on people ... who have clouded visions driven by their own illusions of self proclaimed grandeur ...some even by their own demons of insecurity. If Mohit can look beyond those people and appreciate others independent of pre-painted biases, his vision will surely become reality... as it has been the case in the past when he used to think and act of his own accord.

There has been a ton of negativity professed by so many about this firm...if they can realize how their people feel about how things are running there.. and take positive cues from this... amend their "strategy"... this firm has enough brain power left to rise above other firms... provided they act now.. else the brain power (and rainmakers) will eventually leave and then all will be lost.

Holding on to hope and waiting for the sun to come out!
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30.2
Like+12 Object-0 LL ki bhi 8 years ago  interesting  top rated
Fair. Give him credit for honesty. Also must blame for the downfall then? The "flair, aggression and brilliance" may well have got them here. How much of luthra's growth story was an offshoot of being in a booming economy? If someone claiming great market understanding fails miserably, wouldn't think of that as his strongest suit to clean up the mess. Who's to say if things are to go from bad to better or worse? Must wait n see what they do now.

If you implied luthra downsized to rid the deadwood, you're mistaken. On good authority- mass exodus of Partners, PAs, SAs, JAs on unprecedented scale was voluntary n lack of heavy recruitment because of slow market n inability to find people unwilling to accept the ridiculous 3yr jail term.
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31
Like+4 Object-0 Duck 8 years ago
Go Gunjan!
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A 195-word comment posted 8 years ago was not published. [Appeal decision]
A 62-word comment posted 8 years ago was not published. [Appeal decision]
A 15-word comment posted 8 years ago was not published. [Appeal decision]
32
Like+2 Object-0 Fan 8 years ago
Madhurima not being elevated to executive committee. Definitely there is a story there. Though I wonder if exec committee will have any say since Rajiv and mohit will always call the shots. Smart move by luthra - still no equity or lockstep but a nominal and ceremonial exec committee position.
Was profitability hit because of madhurima's practice. Is she on her way out? Kian, any interest to carry this story further? You also mentioned in the above article that a detailed analysis of luthra's strategy will follow. When is that coming?
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32.1
Like+1 Object-1 kianganz 8 years ago
Yes, still planned and scheduled but got side tracked a little... Hope to publish something shortly...
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32.1.1
Like+0 Object-1 still waiting 8 years ago
still waiting for the analysis kian
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33
Like+0 Object-0 Kathryn 6 years ago
Hi there everybody, here every person is sharing
these kinds of knowledge, so it's good to read
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