Khaitan scoops senior Nishith Desai duo Ajinkya, Sid Shah; NDA fills gaps

Exclusive

Monday, 11 February 2013 By Legally India Law firms

Exclusive: Nishith Desai Associates (NDA) senior practice co-heads Siddharth Shah and Bijal Ajinkya will join Khaitan & Co in Mumbai as funds and tax partners respectively in around two weeks.

Shah and Ajinkya left NDA in January, respectively after 16 and 12 years at the firm.

Khaitan & Co Mumbai partner Rabindra Jhunjhunwala said: “We are very excited to have them – we are strengthening our existing funds and existing tax teams and we see both of them as absolute leaders in their respective fields.

“We are really looking forward to having them at KCO.”

The last reported senior level hire at Khaitan was competition lawyer Paku Khan, who agreed to join from Amarchand Mangaldas in Delhi more than a year ago. “Frankly we never stopped (hiring),” commented Jhunjhunwala. “Our vision is to grow - we are not going to pass any opportunity which comes by.”

Shah and Ajinkya said last month that they were also exploring the option of starting up a new firm.

He graduated with a BE (engineering) degree from Saurashtra University in 1993 and joined NDA in 1996, while she had joined NDA in 2000 after obtaining LLB and LLM degrees from Government Law College Mumbai.

NDA well-wishes, reshapes

NDA founder Nishith Desai commented: “We’ve enjoyed good relationships (…) and if they do good I’m happy. We respect people even when they leave and I’ve extended all my support. Whatever makes you happy, I’m happy.

“After 16 years , (…) they’ve given whatever they can. I know that. (We) actually want to celebrate the 16 years they gave, rather than crying when they leave.”

Shah headed the firm’s investment funds practice, which continues to be chaired by Nishith Desai, as well as the general corporate advisory practice. He also co-headed the real estate practice with Nishchal Joshipura, who is a lawyer, qualified MBA and chartered accountant.

Partner-level lawyers Joshipura and Pratibha Jain, a former Goldman Sachs general counsel (GC) who joined in Delhi in September 2011, have now taken over as co-heads of the investment funds practice.

Ajinkya headed the international tax litigation practice, which will be headed by Vyapak Desai, a trained mediator and arbitration specialist, who will also head up the cross-border litigation and disputes resolution practice. Vyapak Desai also practices in the corporate, capital markets, private equity and securities practice groups.

Comments

Legal Notice 11 Feb 2013, 15:38

+11 -9

Congratulations to two rock stars! Cheers to a fantastic future!

Bravo 11 Feb 2013, 15:49

+9 -1

Congrats Sid and Bijal.

Bhai 11 Feb 2013, 16:15

+12 -3

Huge gain for KCO

Kudos 11 Feb 2013, 16:39

+11 -1

KCO, way to go.... Too smart a move.

bhaijaan 11 Feb 2013, 16:59

+19 -10

HUGE HUGE HUGE loss for Nishith Desai Associates!

deb. cal 11 Feb 2013, 16:59

+5 -9

All the best to them. They are simply awesome.

greek 11 Feb 2013, 17:51

+18 -5

why is no one asking the most important question as to why sr level people are leaving?That is because NDA is a proprietorship! There are no equity partners. The entire equity is held by the Founder and he doesnt want to share the equity. Under such circumstances, what options does one have but to leave? Please tell me i am wrong and NDA is NOT a proprietorship.

Anonymus 12 Feb 2013, 06:24

+6 -3

You are not wrong and you should be awarded a nobel prize for this discovery. Proprietorship or Partnership, it doesnt matter. People quite in every place. All partners are not equity and the so called equity share is pittens. Its about how much more you make when you shift. Its a constant phenomenon in the service sector. Why dont the likes of you, post comments on stardust, filmfare, "why is no one asking the most important question.." Dum*uckery

Lex 11 Feb 2013, 18:40

+10 -13

Lexygen?

Guest 12 Feb 2013, 03:07

+23 -17

NDA is all about packaging and marketing and less about competence. I wounder whether they will be able to meet the standards of Khaitan.

bhaijaan 12 Feb 2013, 03:42

+30 -21

and Khaitan is about competency?!!! :D :D :D

Meherbhaan 12 Feb 2013, 05:22

+12 -10

Bhaijaan

You hit the nail on its ......

Kadardaan

dumbeffry to the limit 13 Feb 2013, 09:44

+3 -2

[quote name="Meherbhaan"]Bhaijaan

You hit the nail on its ......

Kadardaan[/quote]
both above comments have same no. of recommendations and objections. what sorcery is this??? or rather you should wonder whyTF do u post such stupid comments or responses!

Anonymous 12 Feb 2013, 05:42

+2 -3

Congratulations Bijal and Sid. Wish you all the best.

Fairness 12 Feb 2013, 12:24

+5 -4

Why can't NDA be a more transparent organisation? Losing such senior talent just to hold on to equity doesn't come across as part of a long term vision. Nishithbai, please wake up before its too late, please do.

Fair and Lovely 13 Feb 2013, 05:24

It's already too late.

Anonymous 14 Feb 2013, 04:22

+5 -2

maybe ND is in a different time zone!

[quote name="Fair and Lovely"]It's already too late.[/quote]

Jam 12 Feb 2013, 12:41

+7 -5

It was also heard that they were joining Lexygen to setup its Mumbai office... But a good move by them to join Khaitan..

Good to see 12 Feb 2013, 13:21

+4 -4

Whatever said and done about the switch and the potential implications of the switch. It was a refresher to see what Nishit Desai says. This is better than no comment and wish them well. Seems genuine.

Guest 12 Feb 2013, 17:05

+1 -4

Good luck to both of them.

jimmy 12 Feb 2013, 18:00

+2 -2

congrats siddharth and best of luck a move later but good when taken

Shaitan and Co. 13 Feb 2013, 05:26

+10 -3

Who is next from NDA? Shreya Rao?

Shreya Rao 18 Feb 2013, 12:06

+4 -1

No... :-)

Good one! 26 Feb 2013, 11:38

+0 -0

[quote name="Shreya Rao"]No... :-)[/quote]

Haha. Damn gutsy of you to respond publicly :-)

kianganz 26 Feb 2013, 11:49

For the avoidance of doubt, there's no guarantee whatsoever that Sreya Rao actually responded to that comment, or whether someone just responded to that comment adding "Sreya Rao" as a title.

Unless you know something we don't... :)

Bhangi Sandal 13 Feb 2013, 06:44

+0 -3

We have stopped hiring from Indian law firms!

Andar ki baat 13 Feb 2013, 07:11

+12 -14

As an inhouse counsel - i would now rate KCO on par with Amarchand. Poaching Sid is huge.

PB 13 Feb 2013, 16:28

+1 -2

true Gentlemen's talk ... but subject to if u really mean it !

Truth 15 Feb 2013, 09:58

+3 -7

Azb n amss are going down the ladder... I think kco will soon be the best n largestfirm in thecountry. Kco is the place to be now

Factum 15 Feb 2013, 16:03

Hahahahaha...good one....no wonder its Mumbai office lost 30% of its work force (lawyers only) in the first half of 2012 and its infra practice is almost as good as over from being the largest team in the firm in 2011...there is so much more to stay but I shall let you live in the dream where KCO will soon be the largest firm....

Honest 15 Feb 2013, 12:55

+20 -4

It's a bad move by them. They were protected and groomed... KCO will be a huge test.

Nishchallll 16 Feb 2013, 09:53

+9 -8

Nishchal Joshipura is a super guy to head funds and corporate practice at NDA ;p

Commenting is closed for this article.