Amarchand Mangaldas senior associate Rishi Anand has founded Delhi start-up Gnarus Partners with three associates and one litigation head, aiming to double in size by next year and by attracting second-tier work.
Gnarus – which means “skilful”, explained Anand – began operating from a 1,200 square foot office in Chittaranjan Park last week.
The 2007 Symbiosis Pune graduate specialises in corporate transactional law. He began his career at LakshmiKumaran and Sridharan in Delhi, followed by a stint in Singapore between 2008 and 2011.
There he worked as a foreign lawyer at Dacheng Law Offices and Rodyk & Davidson, and completed an LLM at National University of Singapore.
In March 2011 he joined Amarchand in Delhi.
He said that starting up his own firm was always part of his career plan, which included working abroad and at Amarchand.
He would initially focus purely on corporate, M&A and private equity work, alongside litigation that would be headed by another 2007 Symbiosis graduate.
“If you see, there is a lot of space in the market right now. There are clients that don’t want to pay [top tier] rates […] for drafting a resolution,” he said. “I have signed a few retainers initially [and] I am working with a few of the private equity firms… in addition I have a few very good companies that will be retaining me.”
“Each of the matters are more than Rs 15 to 20 crores and the litigation bits are also going to be very good,” claimed Anand.
He named several major private equity funds he used to do work for, but admitted that he would not be able to target the top tier yet. “I know I’m not going to get work from them right now but second tier [funds and] SMEs, for them it will be a blessing.
“You get experienced lawyers and a very very good rate.”
The funds he was currently instructed by, such as one boutique firm run by one of his “investment banker friends”, he explained, were smaller venture capital funds with deal sizes below $10m.
His team currently consisted of two fresh law graduates from RGNUL Patiala and Symbiosis, and a lawyer with one year of experience from CLC Delhi, as well as a part-time LLM graduate paralegal.
By the end of 2013, he was hoping that at least 10 lawyers would be working for him, he said.
Amarchand declined to comment.
Comments
I fully agree. That's why I hope he does well. If more people were brave enough to quit like him, the big firms would be forced to reform. I think its a matter of time before more and more good lawyers will get the courage to start off on their own.
thnx
Lose the "working for him.." ideology and instead walk on the "...working WITH him" path.... collaboration is better than a one man dictate!
All the best my friend!
Rishi - Way to go! He has wonderful experience and excellent execution skills. Many more Tier-I associates to follow suit? Why should starting firms be ex-Partners domain?
This may be a game changer, watch the space!
Way to go Rishi!!
Rishi, though some say extremely well connected in political circles, I believe does not have any forefathers or uncles in this industry.
2 points.
1. What's wrong with targeting low-end work? I thought he was refreshingly honest. Just because it's not a 1000 crore M&A, doesn't mean it's not law, surely.
2. The 'daddys' as you call it, are not, nor have they ever given us any 'pocket money' (fortunately or unfortunately? Take your pick :) ).
Best wishes,
Kian
I do not know Rishi but wholeheartedly support the move! It is for Rishi to react on the heading related to rates and price competition.
Whether his dad is also a lawyer, or whether he comes from a well networked family / politics etc.
not to take anything away from massive talent that he may have, but real world works a lot differently.
five years old in the profession and already has 4 juniors out of a 1200 sq office in south delhi ?
so maybe a report on his family background would be helpful whether he really is a risk taker entrepreneur or something else.
Whether his dad is also a lawyer, or whether he comes from a well networked family / politics etc.
not to take anything away from massive talent that he may have, but real world works a lot differently.
five years old in the profession and already has 4 juniors out of a 1200 sq office in south delhi ?
so maybe a report on his family background would be helpful whether he really is a risk taker entrepreneur or something else.[/quote]
...And you ask this why?
Jealous much?
Whether his dad is also a lawyer, or whether he comes from a well networked family / politics etc.
not to take anything away from massive talent that he may have, but real world works a lot differently.
five years old in the profession and already has 4 juniors out of a 1200 sq office in south delhi ?
so maybe a report on his family background would be helpful whether he really is a risk taker entrepreneur or something else.[/quote]
...And you ask this why?
Jealous much?[/quote]
No, not jealous. That was not my point.
my point was when one starts one's own practice, he/she has to look at various sources from where one gets clients/cases.
5 years in multiple law firms is too short a time for establishing reputation for getting good legal work.
So there has to be another source from where one gets cases/ clients. that is why I asked.
The story should let the readers know the realities of the profession. thats all.
Whether his dad is also a lawyer, or whether he comes from a well networked family / politics etc.
not to take anything away from massive talent that he may have, but real world works a lot differently.
five years old in the profession and already has 4 juniors out of a 1200 sq office in south delhi ?
so maybe a report on his family background would be helpful whether he really is a risk taker entrepreneur or something else.[/quote]
...And you ask this why?
Jealous much?[/quote]
No, not jealous. That was not my point.
my point was when one starts one's own practice, he/she has to look at various sources from where one gets clients/cases.
5 years in multiple law firms is too short a time for establishing reputation for getting good legal work.
So there has to be another source from where one gets cases/ clients. that is why I asked.
The story should let the readers know the realities of the profession. thats all.[/quote]
My dear friend- Realities of the profession are talent, ability to work hard, manage your team and most importantly the ability to network and use your contacts to a mutual advantage. That is the reality of the profession today. No single facet can be viewed in isolation if one has to succeed in the legal world today.
That this youngster has taken this step- an entrepreneurial one of removing those golden handcuffs (as rightly put by someone else on here)and stepped out in the sun to establish his own practice is credible enough!
Whether his dad is also a lawyer, or whether he comes from a well networked family / politics etc.
not to take anything away from massive talent that he may have, but real world works a lot differently.
five years old in the profession and already has 4 juniors out of a 1200 sq office in south delhi ?
so maybe a report on his family background would be helpful whether he really is a risk taker entrepreneur or something else.[/quote]
...And you ask this why?
Jealous much?[/quote]
And whats wrong in asking ?
humble background and well connected ? in the same sentence ?
Well then. he belongs to a pretty lonely club.
a guy with five years experience (considering he spent substantial time at these firms) would not by himself have the time to "network" with politicians, professionals "and" regulators.
So there has to be background. parents/ relatives etc., by not giving this detail, a lot is being said. without saying it.
humble background and well connected ? in the same sentence ?
Well then. he belongs to a pretty lonely club.
a guy with five years experience (considering he spent substantial time at these firms) would not by himself have the time to "network" with politicians, professionals "and" regulators.
So there has to be background. parents/ relatives etc., by not giving this detail, a lot is being said. without saying it.[/quote]
Whats the harm? Its not the first time. Making contacts and keeping them alive is a difficult task and if this guy has accomplished that and wishes to use the same to an advantage then so be it- more power and all the best to him.
Like i asked... Jealous much?
The high-level and low-level departures from AMSS show people of all experience levels willing to practically chew their legs off to get free of the golden handcuffs of AMSS. The market is maturing!
Amen to Making Secessionists out of Successful lawyers
Agree with O Maley! What a douche!
More younglings there should be in this, bring down the bloodsuckers, we must...