It is understood he will join PDS Legal, which is the best-friends firm of Big Four accountancy Ernst & Young (E&Y).
Gulati declined to comment. However, according to five sources close to ELP and PDS Legal, after the end of Gulati’s notice period he will join PDS Legal with his team, which includes Neil Hildreth who was promoted to associate partner at ELP in April 2013.
ELP managing partner Rohan Shah wrote in an emailed statement:
“For the last few years we have seen very strong growth in our litigation practice on an all India basis. This has drawn the attention of some of our competitors, who have targeted the talent we have nurtured.
“We are likely to see some members of our Delhi litigation team, leave us to pursue other opportunities. We continue to have an excellent pipeline of clients, and, talent that we look forward to growing further.
“We wish those exiting our very best.”
Gulati was promoted to ELP’s equity partnership of eight last June.
The 1990 University of Allahabad-graduate set up ELP’s Delhi office around 10 years ago after joining the firm from the chambers of senior counsel Joseph Vellapally. He was promoted to partnership in 2005 and has been heading ELP’s litigation practice in Delhi.
PDS Legal & Associates
PDS Legal, a firm of two partners, was set up Prakash Shah as a tax advisory law firm.
In 2008 PDS & Associates headed by Sajid Mohamed, branched out of PDS Legal. PDS & Associates now has six partners and deals exclusively with corporate advisory legal work. The firm hired Kochhar & Co partner Bidan Chandran in January.
Both PDS firms work closely with E&Y. Partners declined to comment when contacted.
More ELP partners approached
According to several authoritative sources, it is understood that the PDS firms have also approached a number of other partners at ELP, including Mumbai international trade partner Sanjay Notani.
However, Legally India understands that neither he nor others, have been announced to be leaving ELP at the time of going to press.
Notani was not reachable for comment.
Update 20:55: Legal website Bar & Bench reported this evening that Notani would join PDS, according to “information received”, but did not publish further details.
The associates joining Gulati are Kishore Kunal, Rony John, Shruti Sabharwal, Shashi Mathews, Pratibha Sridhar, Shankey Agarwal, Sparsh Bhargava, Rohan Batra and Abeer Kumar, according to the website.
Story developing…
Comments
However, this practice is happening.. the people who are working for these law firm matters are people who are actually Big4 employees and not independent people. Same case with BMR legal.
Bar Council should have a look and suggest whether this is right. The Shadow does not think this is a correct approach. As always the Shadow is watching for now..
Professionalism : more or less ok while handling clients. No risk while handling clients. Professionalism in handling people inside teams and people management = non existent.
Better pay: Myth. ask any intern or consultant
Working Conditions being better : Greatest Farce in the Galaxy (including the moons of Mustafar, where dissention was treated with dunking in hot lava) . Ask any consultant or senior consultant or Manager or Canteenwallah or cab driver
Quality of knowledge : People with little practical knowledge forcing their will. Dissension to the same may be met with scorn.
Clients want them to provide service: Steadily diminishing. People abandoning ship in favour of smaller law firms providing same service at better quality and half price.
Nowhere written law firm cannot have client attorney privilege. make a clear and strict chinese wall between the two. Relation should not be like i am doing the audit, u handle the litigation and we both rake moolah
Haven't heard of Ferguson. Maybe not famous enough to be remembered.
1) you have never really worked in a Big 4 set up as anyone who has would be quick to disagree with almost everything you say
2) you have never really worked in a big law firm as you would find all the issues you relate to BIG 4s are in fact the issues with law firms.
Work ethics in India as a whole need some urgent looking into, be it corporates or law firms. Your comment indicates that you may have a vested interest in the issue at hand.
Party up guys, it's your big day! Congrats
Party up guys..this is the big one! Congrats!
Retaining the talent and earning to retain, may not be sustainable all the time. Therefore, it is fallacy to presume that role of money works either or / neither nor basis, some times it suits the both the side.
'Think like a socialist and work like a capitalist" is the solution days ahead.
Not many would know that PDS Legal started operating in Kolkata a year back bolstered by two lateral back to back hires from Khaitan & Co., Kol. However, specific two hires independently resigned to pursue other opportunities.
Not connected to the above, guess it time to apply for ELP!!! But, with the kind of shoes to be filled!!! Will it be a wise call?