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Paranjpe joins Dhruva to create MDP in new office 4x previous size

A new full-service Bombay firm being born
A new full-service Bombay firm being born

Exclusive: Naik Paranjpe & Co name partner Ashok Paranjpe and his team have joined former JSA partner Nishit Dhruva’s start-up MDP & Partners, hiking the partnership there to six as the firm will quadruple its floorspace with a new Ballard Estate office.

Paranjpe, who had joined the now re-rechristened Naik Naik & Co one year ago, has joined MDP effective today as an equity partner with a team of six lawyers, including partner Leena Desai Padhye. With his joining M Dhruva & Partners has been rebranded as MDP & Partners and now consists of six partners and 18 lawyers.

Finance and banking specialist Paranjpe, who had been a long-time partner at Wadia Ghandy before joining Naik, told Legally India that Dhruva and he decided to come together because of their many similarities and synergies.

“All of us are having their expertise in certain areas but what we can offer in a common platform or a firm is a full service to any clients,” he said.

Dhruva, who founded M Dhruva & Partners after leaving J Sagar Associates (JSA) in February 2010, also stressed the synergies and added that two further partner hires were almost completed and that negotiations were taking place to open an office in a second city.

The entire firm will move to a new office in Mumbai’s Ballard Estate in less than two weeks. The new office in Udyog Bhavan is 4,200 square feet in size, compared to its previous office in Fort’s Prospect Chambers of around 1,000 square feet, said Dhruva.

Naik Naik & Co partner Ameet Naik, whose firm has opened a new office in Andheri and is preparing for Delhi launch as reported by Legally India yesterday, said that Paranjpe’s departure was very amicable and he wished him well.

“Ameet have been the best of friends and will continue to remain so”, confirmed Paranjpe.

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