[UPDATE: IndusLaw poaches] HSA partners Navin Syiem, Avirup Nag, Abhishek Bhalla quit for mystery destination

Syiem (left), Nag (right) leave HSA
Syiem (left), Nag (right) leave HSA

HSA Advocates partners Navin Syiem and Avirup Nag, and associate partner Abhishek Bhalla have resigned from the firm.

Legally India could not confirm at the time of going to press where they would go. We have reached out to them for comment.

Update 11:09: IndusLaw has announced in a press release that Syiem and Nag would join the firm as partners, with Bhalla joining as a principal associate. The team also includes senior associate Shraddha Malhotra, and associates Rohan Gosh, Niyati Bhatt and Shruti Barua. All would join in Delhi.

Syiem said in a statement from IndusLaw: “We are very excited to be a part of IndusLaw. We believe we will bring significant value to IndusLaw and we are convinced that we will greatly enhance each other’s practice capabilities.”

IndusLaw Bangalore partner Suneeth Katarki commented: “The team will significantly enhance the firm’s existing corporate, project and project finance capability, complementing Nishant Singh and Priyanka Roy in Mumbai and Ran Chakrabarti in New Delhi.”

Syiem is leaving with his team including Bhalla and two lawyers.

Syiem specialises in corporate and finance, while Nag focuses on energy and infrastructure work.

Syiem had joined HSA in 2010 from Ashurst in Dubai, where he was a senior associate.

Before that he was a lawyer at Afridi & Angell in Dubai between 2007 and 2009, India legal counsel at GE Commercial Finance between 2004 and 2007 in Gurgaon, a senior associate at Trilegal between 2002 and 2004.

He began his career at Ajay Bahl & Co in 2000 after graduating from NLSIU Bangalore.

Bhalla was promoted to associate partner in 2015 and joined HSA in 2014 from Phoenix Legal where he was between 2009 and 2014. He began his career in 2007 at RNC Legal (now Rajinder Narain & Co) after graduating from Guru Gobind Singh Indraprastha University.

Nag had joined HSA from Trilegal in 2012, making partner at HSA in 2014.

He graduated from NLSIU Bangalore in 2005, began his career at Trilegal, moving to Herbert Smith for two years and returning to Trilegal in 2009.

HSA managing partner Hemant Sahai confirmed their departures adding in an emailed statement that “the two departures appear to be related, however, he is not in a position to confirm this with certainty. Hemant Sahai wished all of them the best in their future endeavours”.

The statement added: “Hemant Sahai confirmed that the firm has a significant and robust team of partners and attorneys with more than adequate depth to continue to service existing and future clients in its chosen areas of practice. These departures will not impact in any manner, the spread and depth of legal services offered by the firm, nor will the firm’s ongoing expansion plans be affected in any manner. HSA recently moved to significantly larger office premises in Mumbai in line with its expansion plans.”

Other than Sahai, after their leaving, HSA will have nine partners and seven associate partners.

Comments

well wisher 9 Jan 2016, 03:29
+10 -5
Congrats Avirup and Navin. All the best for the future.
Baleno 9 Jan 2016, 04:25
+13 -19
Little birdie told me that it's a case of "Asked to Leave" and not "Decided to Leave". Kian, why don't you dust off your Sherlock hat and give us some scoop!
kianganz 9 Jan 2016, 04:27
+7 -0
Doesn't sound that way from Sahai's statement, does it?
Baleno 9 Jan 2016, 05:10
+7 -3
No self-respecting and mature firm will publicly decry its partner's departure. Everyone deserves an honourable exit. After all we live in a civilized society and practice a noble profession. Isin't?
kianganz 9 Jan 2016, 05:47
+10 -0
Story updated - looks like they were poached by IndusLaw, unlikely to have been an 'asked to leave situation'.

If they had been asked to leave, Sahai would surely not have said in his statement that their exits appear to be related but he's not certain...
Inputs 10 Jan 2016, 05:02
+0 -0
Reliable sources of horses tell us that a mole friend of the firm got this done. Who needs enemies with friends like these - much?
Old Monk 9 Jan 2016, 09:25
+10 -0
Baleno- seems to me that your little birdie is certainly smoking something..
Monny 9 Jan 2016, 05:22
+7 -0
Not that I know anything of this situation, but I doubt that any law firm partner or representative will officially issue any statements disparaging any person leaving. People are asked to leave firms all the time and in many subtle and unsubtle ways. No one will own up to it, neither the people leaving or the firms that they are leaving. So these kind of statements can't be taken as gospel.
766231 9 Jan 2016, 05:55
+6 -0
Asked a quarter of his revenue to leave? Baleno's birdy clearly had an after thought!
Pickle 9 Jan 2016, 06:02
+7 -4
Dear random no. there was no "quarter of revenue"!! At least not to the firm. So, perhaps now you can add 2 + 2.
Source seeker 9 Jan 2016, 07:33
+0 -0
Source?
Chhota Chhatri 9 Jan 2016, 07:59
+1 -7
Quarter of Revenue?! LOL.. more like cutting lossess ...
Old Monk 9 Jan 2016, 09:28
+5 -0
Chhota Chhatri, you seem to have access to Hemant's internal thoughts.. are you interning there??
Pinto from Eltinto 9 Jan 2016, 06:36
+10 -3
Well, surprising that Nag and Syiem are leaving HSA, which is a tier 1 infra firm for Indus. Indus may be good for start up work but have not heard of infra deals by Indus
Dazed & Confused 11 Jan 2016, 05:07
+0 -0
Baleno..tell me what are you smoking bro..!!
philisopher 9 Jan 2016, 04:44
+0 -1
Asked or decided to leave is a matter of perspective
Book Size Wala 9 Jan 2016, 05:22
+8 -1
Yeah...they were asked to show their book size ...and then they decided to leave!
He who knows 9 Jan 2016, 06:17
+0 -0
Simple economics. U draw X plus bonus. U bring revenue to justify X.
Book is important. There are other people who will face same problem.
Bhag milkha bhag 9 Jan 2016, 06:22
+9 -0
Avirup is a descent lawyer, but bhai ab to settle ho jao! Anyways good luck for new inning.
Insider 9 Jan 2016, 06:34
+1 -0
Not sure what 'poaching'means in the context of someone willingly leaving an organization for better opportunities. Kian can you elaborate?
Retired 9 Jan 2016, 06:39
+26 -17
Well avirup has deteriorated from tier 1 trilegal to tier 2 HSA to re-tire Indus.
Insider 9 Jan 2016, 07:11
+4 -2
Correct, IndusLaw is a startup, the same way the entire ecommerce industry is still a startup
Wellwisher 9 Jan 2016, 07:19
+14 -3
It's interesting to see IndusLaw quietly increasing its footprint. I see them on every significant PE and M&A transaction. The new joinees will surely add mo r e depth to the practice. Great going!
Raat ka Musafir 9 Jan 2016, 08:33
+14 -0
Apparently, the departures were so sudden and at the spur of moment affair (and in the middle of the night) that there have not even been proper good-bye exchanges; what to talk about formal handing over of files and assets. In fact, Avirup's profile is still being shown on HSA website.
Outsiders.. 9 Jan 2016, 12:30
+1 -0
Hmmm..that's interesting... Kian you still think they left or were asked to leave..
Logicist 10 Jan 2016, 12:12
+5 -1
Resignation entails notice, firing can be spur of the moment? You leave in the night and enter another office next morning. Such moves don't happen overnight do they? Either way, shows poorly on the people leaving. If they left and planned such an exit, then Gaurav must be careful. If they were let go, then - well...
The Insider 10 Jan 2016, 14:55
+3 -0
Resignation entails notice when there's work to be handed over/ matters to be transitioned. And if you have an agreed notice period. But if there isn't, then resignations do not entail notice, including when previous partners at Sahai's firm left... including the entire indirect tax team in Delhi...
Once Upon a time! 9 Jan 2016, 07:37
+22 -4
IndusLaw is definitely on its way up in the Indian legal industry. Could understand your internal pain Insider. You could mock it as a start up to get some sympathy; but reality is every law firm or business was a start up once upon a time. It is definitely doing far more diverse work than e-commerce and getting recognition in other practice areas too.
Insider 9 Jan 2016, 07:47
+2 -0
You did not get the pun!
ABCD 9 Jan 2016, 07:38
+2 -5
Good Luck Indus....Wish Carefully next time..
The Oracle 9 Jan 2016, 08:27
+1 -7
Yes, Indus. Wish very carefully next time. lol .... You don't what you have bargained for this time ... lol
TCs 9 Jan 2016, 11:24
+10 -0
Thank God you weren't a part of the bargain. Would've spent most time fixing your English.
Majorly Profound 9 Jan 2016, 08:20
+1 -3
Leaving a Tier I firm for Tier III firm .. brave move .. Best of Luck
Insider 9 Jan 2016, 11:21
+16 -1
Tier III firms are paying Tier I compensations and offerring better and respectable work quality in a completely non family atmosphere. You may want to apply too!
Coffee pe gossip 10 Jan 2016, 05:13
+7 -1
Gaurav Dani describes himself as "owner" of Indus Law in his public profile. Speaks volumes of the place and the "non family atmosphere"! Good luck guys!
Monny 10 Jan 2016, 08:08
+0 -0
Trilegal isn't a family firm nor to my mind is HSA. About pay packages, it's a truth nearly universally acknowledged that (1) no one really knows everyone's package, and (2) there's a whole range of money made at the same level, even with non equity fee earners.
KRK 9 Jan 2016, 08:38
+3 -0
Bade bade deshon mein, aisi chotti chotti battein hoti rehti hai
Clueless 9 Jan 2016, 08:48
+9 -2
Sounds rather clueless on the part of a ‘managing partner’ to state that “the two departures appear to be related, however, he is not in a position to confirm this with certainty”. If only he bothered to spend some time in office instead of his Aston Martin, he may have been able to state with certainty.
Pinto 9 Jan 2016, 09:17
+6 -1
Well are you Nag or Syiem?
Momo 9 Jan 2016, 10:06
+3 -1
Momo
Sinking ship 9 Jan 2016, 08:54
+8 -0
A per LI, HSA had a partner and a senior associate depart earlier this year in quick succession from the projects team and now another partner and 2 associates from the projects team up and move….that’s 5 lawyers leaving in 5 months…. So is there still a projects practice at HSA? Kian, would you be able to comment?
kianganz 9 Jan 2016, 09:02
+0 -0
I would assume yes, since that was always the core area of the firm and there are still more than 10-ish partners left. Doesn't Sahai himself mainly do projects?
Sinking ship 9 Jan 2016, 09:12
+4 -0
Doesn't Sahai do power sector regulatory work? It would be interesting to know which partner is left in Delhi in the Projects Practice, as distinct from the Regulatory Practice, after Pranav and Avirup quit?
I Got That 9 Jan 2016, 10:14
+0 -1
They have atleast 8 Partners doing Projects, Regulatory and Project Finance. Also, the Partner and Senior Associate who left earlier had joined one of their clients ..Guess that's Sailing!!
simply Sherlock 9 Jan 2016, 10:43
+4 -0
Not sure if the "client" was actually a client. and wonder if the client remained a client after the partner and senior associate joined. that would be interesting to know.
Old Monk 9 Jan 2016, 10:46
+4 -0
8 partners..? Man, your math is outstanding.. please enlighten us with their names..
Dr. Watson 9 Jan 2016, 09:09
+6 -6
I have known Mr. Sahai from his JSA days, he was always a risk taker and focussed on growth. What I know of him is that he trusts his partners and give them complete autonomy - a reason why the firm has grown so rapidly. I'm certain these minor disruptions won't affect him and the firm.
Retired 9 Jan 2016, 09:23
+6 -7
HSA foundations are v strong. Just as AZB did not suffer after a series of high profile exits, HSA too will survive this episode. There are a no of star lawyers in HSA including the Managing Partner himself
Sir Arthur Conan Doyle 9 Jan 2016, 09:44
+5 -1
Risk taking is good but if the growth and gains are frittered away recklessly on pursuits unrelated to strengthening the firm at the whims of an individual (has happened in the past with firms such as Fox Mandal), that's when a firm's financial troubles start.
book size wala 10 Jan 2016, 03:13
+3 -0
Ha ha, HSA I believe works on "eat what you kill" whereas FM's model was "kill what you eat" and they killed the practice;-)
simply sherlock 9 Jan 2016, 09:22
+2 -0
so can we apply to HSA now? are they recruiting?
Ex-HSA 9 Jan 2016, 09:44
+13 -9
All the best to Navin, Avirup and team for the new innings. I am sure, they will be able to shift their clients smoothly.. neither Navin nor Avirup had any legacy clients from the firm, unlike some other partners.. both of them built their business through their own hard work.. and this is what matters.
Picolo 9 Jan 2016, 09:46
+13 -8
Credit must be given where due. Induslaw's partners can learn a trick or two from at least one of the joining partners and senior associate *cough cough*!
Old Monk 9 Jan 2016, 09:57
+10 -4
I wonder what happens now to HSA's infra practice with their entire infra team gone within last few months.. I think, someone named Nilesh Chandra (Has anyone ever heard of him) was recently promoted as Associate Partner.. Is Hemant going to project him to take the lead. In my view, that would be a disaster... Harsh Arora (who is actually Project finance lawyer, not a project lawyer) would be a better bet, but taking over entire projects practice on his own without a team might make him the next one on his way out..
Amma 9 Jan 2016, 10:38
+0 -1
Your name gives it away what you are drinking!!!
Ex-HSA 9 Jan 2016, 11:02
+4 -2
Amma, He must be drinking old monk.. and people who drink old monk, are sensible people.. what are you drinking, or oh i get it, may be you didn't get salary for last few months and cant afford to drink..:)
TCs 9 Jan 2016, 11:31
+8 -2
I agree with Amma. You must be really high to think that Nilesh Chandra can be projected as the infra lead - unless they intend to restrict the infra practice to the highways sector. It would make perfect sense to ask Pranav to come back.
TCs 9 Jan 2016, 11:36
+10 -2
There is no doubt that this is huge setback to HSA and it will take Hemant some time to replace both the teams (2 of the best performing teams) with people of equal caliber. But it has been a bigger setback for us at TCs - since the departures started in September, we have had a significant decline in sales.
sCT 9 Jan 2016, 13:32
+2 -2
"Equal caliber"! Good thing you're not the recruiting partner at any firm. It may be a good idea to stick to what you do i.e. pouring drinks.
TCs 9 Jan 2016, 15:20
+2 -0
@sCT - You could use a drink. We will be happy to welcome you at TCs tonight.
AAb 9 Jan 2016, 12:52
+0 -7
Deepak Thakur in mumbai??
I Got That 9 Jan 2016, 11:21
+3 -4
Woah! .. I thought the Projects team is led by Hemant Sahai .. with Sakya, Anjan and Avijeet .. their mainstream Partners!!
Jatin Aneja 9 Jan 2016, 11:47
+3 -0
Who is taking care of business development? Has HSA been able to attract any new big clients in the infrastructure space?
simply Sherlock 9 Jan 2016, 12:13
+3 -0
@Jatin Aneja: you should apply to HSA. I believe the projects practice is looking for a partner. Might as well move to the top infra firm in the country instead of wasting your time at SAM.
kianganz 9 Jan 2016, 14:07
+2 -0
For the avoidance of doubt, in case anybody didn't get it, there's no evidence that this is actually Jatin Aneja from SAM commenting.
vineet aneja 10 Jan 2016, 03:17
+1 -0
How do you know, Kian?
Monny 10 Jan 2016, 08:10
+0 -0
Shocking!
real insider - sacchi 9 Jan 2016, 13:28
+0 -0
Hahahahaha
Hum Tum 9 Jan 2016, 13:43
+4 -0
Yes, Sakya and Avijeet are the main guys in delhi. Anjan is the man in Mumbai. Good for them
ChotaBhimBadhaShiv 9 Jan 2016, 11:28
+0 -0
Please to correct. Avirup left Trilegal in 2013.
simply Sherlock 9 Jan 2016, 11:43
+4 -1
the team may be led by Sahai, but is there a practice left for the team? #thenationwantstoknow
Money 10 Jan 2016, 04:36
+1 -0
I wonder where Gaurav Dani is getting all his money from? Any insights on how Indus has all this new money to spend?
Logical 10 Jan 2016, 05:28
+2 -0
Well.....although still relatively low on visibility, the firm has grown leaps and bounds. So, it's all client billings I am sure. Good thing is they are investing this into building the firm rather than sucking it all away......
Inputs 10 Jan 2016, 12:06
+0 -0
I hear he takes equity in the startups he works with and that has paid off? Isn't that against advocate ethics and all?
kianganz 10 Jan 2016, 12:28
+1 -1
Not sure if that's true...
Inputs 10 Jan 2016, 13:01
+1 -0
Being against ethics may not be true, but taking equity seems to be true according to a few folks down in the value chain.. :)
kianganz 10 Jan 2016, 13:03
+1 -1
Could be, not sure - I know one lawyer that tried doing it instead of billings, but stopped because you simply end up losing money most of the time...

But yeah, maybe some personally invest as angels or something.

IndusLaw though is funded by Dani? I thought it was a fairly normal partnership where all the founders share similar equity and profits, etc.
Tea Stall Owner Noida 10 Jan 2016, 14:57
+0 -2
You are right Kian. Indus works on 'eat what you kill' model! The real resource is the Blore managing partner. How the present movement unfolds in future is to be seen!
Logical 10 Jan 2016, 15:42
+4 -0
They do not have a managing partner. http://induslaw.com/partners.php

This itself speaks volumes about the firm!
The Insider 10 Jan 2016, 17:06
+4 -0
eat what you kill works.. but eating what other people kill is what leads to the hunters leaving.. and I suspect that this is what happened at Sahai & Co. as well.. The hunters were killing but the eating was being done by someone else.. isn't that the common problem with most of the owner managed firms Kian?
The Insider 10 Jan 2016, 15:00
+3 -2
Dani is one of the partners in Delhi. He doesn't "own" Indus, though I suspect he has some kind of founding partner status. Otherwise it's a pretty flat partnership structure with no single ego calling the shots.
Insider 10 Jan 2016, 15:47
+0 -0
You obviously don't seem to understand how a true partnership firm functions!
In House Counsel 11 Jan 2016, 06:30
+6 -2
Best of luck to Navin and Avirup! Both have enough of their own clients and market credibility to succeed wherever they go. Induslaw will certainly benefit from having them on-board.
FALTU 11 Jan 2016, 14:57
+1 -3
Yeah and i'm Bill Gates
SittingInHouse Counsel 11 Jan 2016, 16:23
+0 -1
Aai Sapath,i'm not lying. Believe me please.
#bhai 13 Jan 2016, 08:26
+0 -0
this Nag fellow was in NUJS Calcutta no ? for some time ? before he went to NLS ? [...]