Both firms intend to restart offices to become national firms again.
Das and PXV partner Deepto Roy confirmed to Legally India that an agreement to separate would take effect from 16 Februrary, although they declined to comment further until all details were finalised.
According to sources the split was amicable but was caused by differing “visions” about the firm.
It is understood that during a transition period of up to three months, both sides would implement their comprehensive settlement of firm assets to avoid any disruption to clients and give associates the free choice of which firm to continue with.
PXV operated an equity lockstep partnership of seven, including Pal who had left in October of last year to go independent and will now rejoin Das in RDA.
Four PXV equity partners – Roy, advocate-on-record Mohit Abraham, Thomas Phillippe in Delhi and Pingal Khan in Bangalore – as well as two salaried partners - Souvik Bhadra in Kolkata and Anuj Sahay in Delhi - would continue as PXV and are understood to re-start a Kolkata office.
They are understood to move into a new Kolkata office and restart a Mumbai office that could be headed up by Khan.
Mumbai-based Das and Kolkata-based Pal, are also believed to intend to continue being a national firm and will re-open offices in Delhi and Bangalore.
The brand name PXV was created one year ago out of RDA Legal, after electing Das for a two-year term as managing partner and inducting three new equity partners into the firm partnership. All partners are NUJS Kolkata graduates, with Abraham, Das and Roy having graduated between 2005 and 2006.
The pre-separation firm numbered 25 lawyers and specialised in M&A and corporate law, disputes, real estate, infrastructure and finance, according to a firm profile published by Legally India in July 2011.
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I prefer the franklin and bash way
Why @5.1 basic point is that you or me will not be aware of the real reasons that took place. A firm is a conglomerate of different individuals who are not always like-minded. if one were to take the logic of taking time then probably all firms would have been an individual run entity. Having said that neither you or me will be in a position to assume whether the merger happened in the blink of an eye.do we? having said that if a decision was taken to come together, it is always better to reconcile to differences and talk it out.I am not sure that this kind of news would do any good to the start ups leave aside the illustrious careers that these individuals aimed at achieving. What a waste!!!
Chacha ... 4 bangaliyon ka dhanda chalana asan nahi!
#jobmarketjoys
i think yours was by far the most constructive comment!!! :D
you sound like one of those people who like to latch onto weird stories at night and fantasize about them till you run out of steam and have to scavenge for more..
Alas you will never get to know.Or will you?
best of luck to both.
Mere number of people on either side does not make something right or wrong. A commercial law firm is a business, not a democracy. It’s not always fair to impose democracy in a law firm. Our commercial laws are structured to protect the rights of the majority investor and to give more weightage to decisions of shareholders who have taken a majority of the financial risk. Rohit has obviously made the lion’s share of the investment in the Firm and taken a lion’s share of the risk. He has demonstrated determination, vision and leadership by building a national firm with four offices from scratch. It seems immature on the part of the new partners to split with Rohit and Arindam, two of the founders within a year or so of joining the Firm.
too many cooks spoil the broth.. in a firm especially when its is at its nascent stage, a strong leadership is required. multiple views and vision will only provide you a confused destination. With all due respect to your trust on democratic set-up and "Where the mind is without fear and the head is held high" ideology, this is business and its ruthless, so either you make it or just fizzle out like some promising spark because there was no one to crank it up when it was needed the most.
I wish both the firms all the best and hope to see them grow out of each others shadow.
that too amss kolkata of all places! :-)
Rohit has shown his commitment towards the people in his own organisation by investing in young professionals and helping them develop their practices. I don’t think he will face any credibility issues in attracting other high achieving young professionals into RDA. Legal competence is one thing, vision, leadership and management is another. While no doubt good lawyers, Deepto and Mohit are yet to demonstrate the ability to build and run a Firm. Its PXV which would have credibility and trust issues in attracting other partners, given the track record of the newer partners of ganging up against two of the founders, Rohit and Arindam, and causing the firm to split only after a year or so of joining that firm.
I killed roger Rabbit!!!!!!!!!!!!!!!!!!!!!!! ha ha ha ha
'leading from the front'
Are you talking about Major Hoshiar Singh PVC? 'Cos that's not Rohit Das or Moht Abraham or Deepto [...].
How many of the ppl on this forum have actually any idea what work RDA/PXV actually do and what sort of revenues they earn? All the speculation is about organisational ability and legal competence. Except Deepto who has been a good documentational lawyer in the safehouse of AMSS, none of the others have any transactional maturity or experience of note. [...]
Too much was made of this firm from the start. My own view is that lots more experience was required, more clients cultivated and more capital built up. They could easily have built a firm after spending 7-10 years in top notch firms like AMSS and AZB. Instead they have squandered a chance (for the most part).
I think Deepto may on his own accomplish something, but there is no guarantee. Rohit would have made a better partner for him [...]
There were some very good points mde by anon. I agree too much was made of this firm. I can understand an ex-AMSS partner or even senior associate opening a frm, but come on a bunch of kids with just one year work ex? Moreover, certain departments uner certain AMSS partners are crap and you wil get better work ex working in many lesser known firms. Seriously overhyped firm. There are thousands of very god firms that hardly got the publicity on LI that PXV did.
It's not that bad - 90% of that post was intact and made sense.
In line with our site policy, please keep your comments non-personal and do not be hurtful or make overly personal comments about named individuals.
And law would do well without ppl like you in this profession.
they're all smart kids. don't see any reason that either firm should fail.
1. May 2008 - Rohit and Pingal (with the help of a few friends from NUJS providing support) start a new law firm RDA out of a flat-converted-into-an-office in Beleghata ... later in 2008 - Arindam joins.
2. 2010 - tie-up with DS Avocats (driven by Rohit - if reports are to be believed), Mohit joins later in 2010
3. 2011 - re-branding to PXV, Deepto joins (both these events were reported in the same article on 17 January 2011 ... I'm sure it was a co-incidence .... NOTTTT!!!)
4. 2012 - the firm splits
what has changed between 1. and 4.? I'll let you do the math ... I don't know why (actually I do!!), but I'm thinking of that old fable of the camel and the tent ....
Rohit is a FANTASTIC lawyer ... as are a couple of the other partners in what was PXV ... and the split is unfortunate for everyone .... that said, if Rohit has decided to leave, he must have his reasons.
As for PXV, need not worry folks, you will die fighting or fight till you die (anyway you have Pingal 'sher' khan!!)
Cheers!
Emotions are assets for artists and sportsperson but liabilities for people in business, finance and law!
It is widely said one should not go into business with close friends & relatives as bad break up may make things worse! You should go into business with someone purely for profit reasons either with an individual with high potential or an established individual! Running a business involves risks, forseeable and unforseeable!
Similarly, many events arose which were not forseeable which led to the break of this firm! May be they had a vision or they did not have one! Hope they had an amicable break up!
I hope these lawyers are still friends as firms, money, deals come and go, but true friends are hard to come by!
PS - I find it strange when entrepreneurs or co founding law firm partners leave a successful young law firm to join a big law firm after few years!
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