The new report by legal directory Chambers & Partners, which compiles an annual tiered ranking of law firms and partners in various practice areas, has seen Khaitan & Co take the top spot by number of “ranked” lawyers, reported The Economic Times, while AZB & Partners, Khaitan & Co and both erstwhile Amarchand Mangaldas co-managing partner Shroff brothers have lost dominance.
Both Shroff brothers combined, as they were before the break-up of Amarchand Mangaldas into Shardul Amarchand Mangaldas and Cyril Amarchand Mangaldas almost a year ago, had ruled the roost across categories in last year’s ranking.
Divided, both firms are still individually in the top five nearly everywhere, but other firms have managed to solidify their existing position, including also J Sagar Associates (JSA).
According to the ET report, which appears to be based on a Chambers press release, AZB’s number of ranked lawyers decreased from 17 to 13 this year, in which partners Kalpana Merchant, Shuva Mandal and Essaji Vahanvati left.
Shardul Amarchand’s lateral hires in the past year seem to have given it a particular boost in the rankings, with Akshay Chudasama and Shuva Mandal both ranked as band 2 in corporate and M&A.
However, the most senior partners at both Shroff firms find band 1 mentions in several practice areas, and according to the ET, the seven lawyers who “received the highest ‘star Individual’ rating” were Cyril Shroff, Shardul Shroff, AZB Mumbai managing partner Zia Mody, senior counsel Harish Salve, Federal & Rashmikant name partners C Rashmikant and M Federal, and Bharucha & Partners partner MP Bharucha.
The UK-based Chambers directory relies on law firms to prepare detailed submissions on why it or a partner should get ranked in a particular area.
Chambers employs an army of researchers who then contact firms’ client references by either phone or automated email systems to corroborate firms’ and partners’ reputations.
They, as any other ranking, should be taken with a pinch of salt.
Update: As pointed out by readers, the rankings have been updated by Chambers yesterday night (4 February), resulting in a few changes.
Any changes in rankings have been reflected in bold italics below.
Individual ranked partners
(according to ET unless otherwise indicated)
Khaitan & Co: 21 ranked individual lawyers
J Sagar Associates (JSA): 19 ranked lawyers
Shardul Amarchand Mangaldas (SAM): 19 ranked lawyers [confirmed by LI count on website]
Trilegal: 16 ranked lawyers
Cyril Amarchand Mangaldas: LI counted 15 ranked partners [Update: LI has done a recount on 5 February, and CAM still has 15 ranked partners]
AZB: 13 ranked lawyers (down from 17 last year, according to ET) [Note: Legally India’s independent count of Chambers’ website revealed 14 ranked lawyers for AZB, including partner Essaji Vahanvati who is still listed in corporate and private equity band 1 but who has been on an extended sabbatical from the firm]. [Update: On 5 Februrary, AZB still had 13 ranked lawyers: Vahanvati has left, but Madhurima Mukherjee is now ranked as band 2 in capital markets]
Firm-wide ranks
A sampling of the top few bands in major practice areas for firms, usually out of five bands, reveals that SAM and CAM are both ranked in band 1 for virtually all major categories, except for competition law, where SAM is the only “band 1” ranked firm.
Neither Shroff firm finds mention in band 1 or 2 in tax.
According to the ET report, Luthra & Luthra had the widest number of firm mentions across practice areas, followed by both Shroffs.
- Luthra & Luthra: 15 ratings across top three bands
- SAM: 14 organisation ratings across top three bands
- CAM: 11 ratings
Corporate and M&A
In corporate and M&A across India, Chambers ranked in:
- Update: Trilegal moved to band 1 for corporate M&A from band 2. Talwar Thakore Associates dropped from 2nd to 3rd band.
- Band 1: AZB & Partners, Cyril Amarchand, J Sagar Associates (JSA), Khaitan & Co and Shardul Amarchand Mangaldas.
- Band 2: Luthra & Luthra, Platinum Partners, S&R Associates, Talwar Thakore & Associates and Trilegal.
Private equity
- Update: Trilegal has entered band 1 in private equity. Samvad and Wadia Ghandy have dropped to band 3 from band 2. ALMT, Desai & Diwanji, Majmudar & Partners, dropped to band 4.
- Band 1: AZB, CAM, JSA, Khaitan & Co, SAM
- Band 2: Nishith Desai Associates, Samvad Partners, Trilegal, Wadia Ghandy
- Band 3: ALMT Legal, Desai & Diwanji, DSK Legal, IndusLaw, Lexygen, Luthra & Luthra, Majmudar & Partners, Platinum Partners, S&R Associates, Tatva Legal
Capital markets
- Update: Luthra & Luthra moved to band 1 for capital markets.
- Band 1: CAM, SAM and S&R Associates.
- Band 2: AZB, JSA, Khaitan, Luthra & Luthra
- Band 3: Talwar Thakore & Associates, Trilegal
Projects, infrastructure and energy
- Update: Phoenix Legal entered band 2 for projects.
- Band 1: CAM, JSA, Link Legal, Luthra & Luthra, SAM
- Band 2: Economic Laws Practice (ELP), HSA Advocates, Khaitan & Co, Seth Dua & Associates, Trilegal
Competition law
- Update: Luthra dropped to band 3 from 2 in competition, while Economic Laws Practice (ELP) climbed to band 2.
- Band 1: SAM
- Band 2: AZB & Partners, CAM, Khaitan, Luthra & Luthra
Banking & finance
- Update: Phoenix Legal climbed to band 2 from 3 in banking finance; ELP climbed to band 3
- Band 1: AZB, CAM, JSA, SAM, TTA, Trilegal
- Band 2: Juris Corp, Khaitan & Co, Luthra, Wadia Ghandy
- Band 3: Bharucha & Partners, Phoenix Legal, SNG & Partners
Dispute resolution
- Update: CAM dropped to band 2 from band 1 in dispute resolution. Mulla & Mulla dropped to band 3. Holla & Holla dropped to band 4.
- Band 1: Agarwal Law Associates, CAM, Karanjawala & Co, SAM
- Band 2: AZB, Bharucha, Federal & Rashmikant, JSA, Khaitan & Co, Luthra & Luthra, Mulla & Mulla, Wadia Ghandy
- Band 3: Bhasin & Co, Dhir & Dhir Associates, DSK Legal, Dua Associates, Holla & Holla Advocates, IndusLaw, Kachwaha & Partners, Majmudar & Partners, PH Parekh & Co, Poovayya & Co, Trilegal
Tax
- Update: Khaitan & Co dropped to band 2 in tax, Vaish Associates dropped from band 2 to 3.
- Band 1: BMR Legal, Economic Laws Practice (ELP), Khaitan & Co, Lakshmikumaran & Sridharan, Nishith Desai Associates
- Band 2: Luthra & Luthra, Vaish Associates
Photo by Celestine Chua
Comments
The blue eyed girl in Mumbai will be in trouble?!
Though to give the blue eyed girl (didn't know she was) some credit, she rakes in more moolah for the firm than many of her corporate peers do or have not been able to do !
Let's the tolls begin lol
Typical master servant relationships historically speaking, and times have come where the servants becoming the masters ! Life's little joys ;-)
Other than Essaji Vahanvati, all the partners I saw listed on the Chambers website next to each name were hires of the last 12 months.
It could be that the website is being updated on a rolling basis, but the print report only comes out at 530pm?
Out of interest, in readers' experience, how much do law firms care about Chambers, Legal 500, etc rankings?
I believe some firms spend considerable resources in getting a decent ranking, no?
It's interesting how u r disputing and bad mouthing only this particular ranking and not others!
Still paint a fairly interesting picture though.
RSG was a bit tighter in terms of methodology I think when it first came about, but no system is perfect.
Trivia: Reena Sen Gupta who started RSG was formerly quite a senior person at Chambers... :)
Look at the ET headline, and look at your article!
And then you call Chambers and Partners flaky!
They are the most reputable guys out there.... Clearly evident from the fact that a certain senior lawyer in Mumbai's wife could not charm them with the supari in her office or the presents she is known to dole out....
More interesting story here is Khaitan and JSA I think - only 2 or 3 of their partners appeared in more than 1 practice area with a citation. Nearly all their other citations are from individuals who have their independent practices. JSA too has a much broader based partnership and has performed well in the rankings.
At CAM, SAM, AZB, etc, there are 3 or 4 in each firm who seem to make up 30% of citations. Pallavi Shroff alone is mentioned in at least 3 or 4 categories, as are Shardul, Cyril and Zia.
Plus the fact that had they not broken up, they'd still be at the top of this somewhat arbitrary league table... :)
At least we have a record now of what they were before 5pm gmt and we can do a track-change :)
No doubt they are on the decline but unheard of firms like Holla & Holla Advocates, Kachwaha & Partners have made it to the list.
2. SAM competition individual ratings show pecking order: Mama Bear ( Pallavi band 1), Baby Bear ( Shweta band 2), Son in law ( Chopra band 3 chambers doesn't care about other websites under 40) and Non family member who works ceaselessly ( Harman up and coming).
3. SAM capital markets is Band 1 with only one practitioner Prashant ranked band 2. Magic and the invisible hand propelled it to Band 1?
4. Corporate M&A Mumbai has Abhijit Joshi and Nihar Modi ( band 1) ranked above Ashwath Rau, Som and Shuva (band 2).Incredible : hand of God since it cannot be market forces!
5. Corporate M&A Delhi has Karam Daulet ( band 1) ranked above Gautam Saha ( band 2). Worse Anil Kosturi is not even ranked or in up and coming. Foreign hand of fields that are fresh?!
6. Private Equity has Nihar Modi and Ankit Majumder ( band 1) ranked above Reeba and Raghubir (band 3). So laughable I am rolling in the fields again;)
7. Rajiv Luthra is band 2 for white collar crime. lol
8. Shardul, Cyril and Zia Modi have inadvertently been missed from band 1 rankings in Competition, Tax, IP, Employment and Real estate. Chambers needs a small dose of ground reality!
Disclaimer:
The above statements are without bias, contribution, expensive gifts and previews.
Maybe skim comments also before commenting - Chambers updated its rankings at 5pm GMT apparently, so we've now updated ours also.
Biggest takeaway: Trilegal climbed to top band in Corporate and PE both. CAM, probably realistically, dropped a tier in disputes. Luthra in tier 1 cap markets, but dropped to tier 3 in competition.
Others below:
Corporate: Trilegal is now in band 1 for corporate M&A. Talwar Thakore Associates dropped from 2nd to 3rd band.
Private equity: Trilegal has entered band 1 in private equity. Samvad and Wadia Ghandy have dropped to band 3 from band 2. ALMT, Desai & Diwanji, Majmudar & Partners, dropped to band 4.
Cap markets: Luthra & Luthra climbed to band 1 for capital markets.
Projects: Phoenix Legal climbed to band 2 for projects.
Competition: Luthra dropped to band 3 from 2 in competition, while Economic Laws Practice (ELP) climbed to band 2.
Banking: Phoenix Legal climbed to band 2 from 3 in banking finance; ELP climbed to band 3 (CORRECTION: We'd initially erroneously stated Phoenix had climbed to band 3).
Disputes: CAM dropped to band 2 from band 1 in dispute resolution. Mulla & Mulla dropped to band 3. Holla & Holla dropped to band 4.
Tax: Khaitan & Co dropped to band 2 in tax, Vaish Associates dropped from band 2 to 3.
I always read conflicting reports and such is also the case with Chambers rankings, just saying :-)
http://m.economictimes.com/industry/services/consultancy-/-audit/azb-khaitan-cyril-amarchand-top-ma-law-firms-in-2015/articleshow/50862195.cms
Rock on elder brother. Proud junior of yours!
Where are Doijode Associates & Naik Naik & Co in the list of firms?
AZB doesn't have too many matters in Bombay HC !!
That apart, if a partnership is as good as its partners, this rankings have a lot to say. Trilegal with 23 partners and CAM with 77 partners have the same number of ranked lawyers. Clearly, CAM is more about quantity thn quality!
Are you sure all of these 20 are partners and there's no double counting? I think some associate of SAM won a most fabulous up and coming associate of the year citation or so in Chambers, so maybe that wasn't counted for the figures Chambers gave to ET?
CAM: 18
SAM: 20
JSA: 20
Luthra:16
Khaitan: 23
Trilegal: 17
AZB: 13
These mentions are insightful - this is how AZB, CAM and SAM rely on the might of Zia, Cyril and Shardul, whereas other firms are more professional and have invested in people.
http://www.legallyindia.com/201310044020/Law-firms/nls-glc-du-ils-rule-law-firm-partnerships-law-firms-don-rsquo-t-play-favourites
I would imagine of the Chambers banded partners, the largest proportion will be GLC and Delhi University, followed by NLSIU Bangalore.
But it'd depend on how you count - if you're counting law school citations per category (i.e. the Zias, Sharduls and Cyrils would count for several citations each, then NLS might be nowhere).
Again, that's just gut feeling though based on our earlier research.
Desai is to retire soon from JSA. Was this a meeting between old 'good' friends given the day, or can we read as an alliance in the making?
Kian Ganz, you ought to investigate.The information is 100% true, i can swear on St. Valentine.
Don't think AZB and JSA would make a good fit, structurally... Unless they're planning an anti-CAM-SAM cartel? :)