Cyril Amarchand Mangaldas (CAM) principal associate Abir Dey is joining L&L Partners in Mumbai in its banking and finance practice.

Dey had been at CAM since 2011 and had been in its projects and project finance practice in Mumbai.

He specialises in banking, projects, project financing, structured financing and debt restructuring across sectors.

Dey’s joining L&L follows IndusLaw partner Navin Syiem this month.

L&L Mumbai corporate partner Aditya Periwal had moved to AZB in December.

We have reached out to L&L, Dey and CAM for comment.

: L&L senior partner Mohit Saraf said: “We are extremely delighted to welcome Abir to the firm. His addition will further strengthen the firm’s banking, finance & restructuring practice, which has always been a core practice of the firm. He brings with him deep knowledge and relationships in the banking space.”

Saraf added that the elevated NPA levels had put “severe pressure” on the banking industry over the past few years. “Now a number of such cases are getting resolved and banks are increasing their focus on fresh advances to corporates and projects,” he noted. “Also I am seeing a marked difference in the approach of banks towards fresh exposure - quality of due diligence, perfection of security documents, risk assumption by the banks...”

Saraf predicted that the banking and finance practice would be “very busy” in the coming months, with Dey’s addition being “timely”.

Update 16 January 2020: Dey added: “I am delighted to join L&L Partners and look forward to a very long and enriching innings in the project finance, banking and finance, projects and infrastructure and IBC space.

“What I like about the firm is flat and non hierarchical structure with gives meritocracy a good chance to prosper.”

: CAM managing partner Cyril Shroff said: “We wish him well.”