Link Legal merges with projects boutique ILS to bolster Mumbai

Wednesday, 2 January 2013 By Legally India Law firms

Link Legal fully merged with project finance boutique India Law Services (ILS) in December to form Link Legal – India Law Services with 14 partners and 73 lawyers, to strengthen its Mumbai practice.

The merged entity will be co-headed by Delhi managing partner Atul Sharma and Mumbai managing partner Anil Karkhanis.

Sharma said: “We wanted to strengthen the Bombay operations for the simple reason that we opened the Bombay office only two years ago. On the banking side there’s a lot of value, and we’d also get a platform to explore the Bombay presence.”

Karkhanis said: “We [Link Legal and ILS] are operating in the same area. Getting together is always good.” He told Legally India that talks around the merger were on for the last few months.

Link Legal brings nine partners to the alliance, while ILS brings five partners.

Projects specialists at the merged firm are legacy Link Legal Mumbai partner Ajay Sawhney and Delhi partners Anand Srivastava and Dinesh Pardasani, as well as legacy ILS Mumbai partners Tushar Desai and Vishakha Bhagvat and Delhi partner KA Najmi.

Link Legal Mumbai will relocate to ILS’s Ballard estate office in the city.

In January 2011 Link Legal absorbed Gurgaon-based capital markets boutique Zenith India with Zenith’s managing partner Raj Rani Bhalla relocating to Link Legal’s Mumbai office.

ILS, which was founded in Mumbai in 1998, most recently added a fourth office, in Bangalore.

In 2010, ALMT Legal poached one-third of ILS, including partner Ishtiaq Ali and five associates, to start its own projects and infrastructure practice. Ali has since moved on to co-found Clasis Law.

Comments

Anon 2 Jan 2013, 12:04

+1 -0

Good to see consolidation and another solid entity! Best wishes to the merged entity.

Lawyer 2 Jan 2013, 15:24

+1 -1

ILS was not getting good amount of work for almost a year now. Initially they were in talks with HSA for a merger. But when the talks failed, they approached Links. Nevertheless, wish the new entity very best !!

Lawyer 1 3 Jan 2013, 07:12

I think your info is wrong. Kindly see the deal logic league tables.

Lawyer 3 Jan 2013, 12:49

Dealogic's info is right, my inof is right too !! ILS was feeling the pressure of maintaining a cash reserve ratio after all payments being made to the lawyers. ILS lawyers are good but that was slightly a tough time for them, as far as work inflow and respective billing was concerned.

Lex 2 Jan 2013, 20:00

Lexygen? Busy?

Anonymous 3 Jan 2013, 04:33

Being one of Link Legal's clients, I must say Link Legal is a solid firm which gives cutting edge advise...it is a pleasure to note their expansion in newer territories. All the best to them!!

Dont fake it! 3 Jan 2013, 08:07

+0 -0

"cutting edge advise"!! are you sure? Either you work there or have never hired BigLaw, or generally have no clue. I can understand LL being responsive, reasonably priced, nice guys etc, but cutting edge is not even part of their sales pitch.

Funny pic 3 Jan 2013, 06:41

Link Legal seems to be going places! On a lighter note, why is Mr. Sharma posing with a pen while looking at the camera? :D

masala chai 3 Jan 2013, 06:51

and what does the tea cup signify :D

Baghera 3 Jan 2013, 12:30

Question- when two bad firms merge, is the result (a) worse than each of the merging firms; or (b) slightly better than two of the merging firms?

Clearly in bad taste 3 Jan 2013, 16:17

[quote name="Baghera"]Question- when two bad firms merge, is the result (a) worse than each of the merging firms; or (b) slightly better than two of the merging firms?[/quote]

Baghera & Don't fake it-clearly your understanding of the Indian legal market is limited. The story makes it clear that Link Legal seeks to strengthen its banking practice. The most recent Dealogic rankings show Link Legal as the no. 1 firm in India (ahead of much bigger firms) in the field of Banking and Project Finance. Why is it so hard for you to accept that a mid-sized outfit can provide "cutting edge" advice in a highly specialized area.

Baghera-you are a troll!

Anon 3 Jan 2013, 18:08

Not sure about "cutting edge advice" but Link Legal certainly under quotes to get mandates.... On a separate note they insist on using "drawl" in their documents in connection with drawdown - which quiet clearly is not a correct usage! ;-)

Good luck to both Link Legal and ILS,

Baghera 4 Jan 2013, 06:41

Yes yes I troll...

Here is the story behind the Deallogic rankings ...

1. PSU banks in India fund the most projects....
2. PSU banks do not care for quality, just the L1(lowest bidder law firm. The borrowers also do not care for quality
3. Private banks use neither of the aforementioned "cutting edge" firms
4. Ditto international consortium financing
5. You can pick up one of their documents and read it... you will understand the "cutting edge" nature of their expertise...

Both Firms play the volume game well... so its a good match

know your facts 9 Jan 2013, 10:03

[quote name="Baghera"]Yes yes I troll...

Here is the story behind the Deallogic rankings ...

1. PSU banks in India fund the most projects....
2. PSU banks do not care for quality, just the L1(lowest bidder law firm. The borrowers also do not care for quality
3. Private banks use neither of the aforementioned "cutting edge" firms
4. Ditto international consortium financing
5. You can pick up one of their documents and read it... you will understand the "cutting edge" nature of their expertise...

Both Firms play the volume game well... so its a good match[/quote]

Clearly your knowledge is limited. That table has private banks too. We (as clients) can negotiate directly with the company without any interference of the banks. and i really think you need to sit on the their opposite side to get a glimpse of their "so called - mediocrity"

Kkkuting 4 Jan 2013, 12:57

Not sure what one means by cutting edge in law. The term cutting edge is usually used in technology, engineering or stuff which requires considerable innovation. So when James cameron shoots Avatar with a 3d inbuilt camera - it becomes cutting edge (i.e. the 3d in the traditional camera). Now coming to legal advise - it is but the interpretation of the law and advising whether a client can do or cannot do something or negoatiating a contract - the commercials of which is decided by the client. So a lawyer is doing nothing but referring to the written law, judgement, taking instructions from the client et al and arriving at a conclusion - where does cutting edge fit into all this. Unless you change the law in the legislature to suit your clients needs (but that will be more of fixing). More so is a loan documentation which is standard to the core. Me think precious that one should refer to a law firm as top quality, brilliant, caboose whatever but not cutting edge.

Internatioal Client 5 Jan 2013, 15:20

Dear Kkkuting, you seem to be a software collie! The only cutting edge international Indian largest most admired law firm in India and UK is located somewhere in near Delhi in NOIDA! Pahle istemal karo phir vishwas karo!

Get Real! 4 Jan 2013, 11:02

+0 -2

dont think link legal will ever get any better....the work culture pathetic and the quality of work sucks!

Duh 3 Jan 2013, 12:55

That Atul Sharma drinks tea. Duh!

hihihi 3 Jan 2013, 17:56

[quote name="masala chai"]and what does the tea cup signify :D[/quote]
LMAO XD

Former Client ILS 3 Jan 2013, 17:39

It is a merger or a sale of ILS?!

LL Client 4 Jan 2013, 08:59

+2 -0

I believe, link legal's capability as a banking and finance team is well established. As a client (and if i may speak for other companies requiring legal advice), I see nothing wrong in a firm providing accurate and workable advise at a competitive fee(read - lower than top tier firms). The top tier firms rates are insanely high and it is only so that they can feed the huge numbers of staff that they flaunt and not necessarily for their advise.

We have worked closely with link and they are a small and strong unit providing excellent and timely advise. Other than Mr. Sharma, i must also add that Anand Srivastava and his team are hugely resourceful.

Congratulations to link legal and ILS.

Scooter 7 Jan 2013, 11:16

+3 -1

Biglaws must be pissing their pants after this merger!

lawyer 8 Jan 2013, 11:49

Linklegal seems to be increasingly doing things right. First the purge of non performing lawyers in 2009-10, followed by merger with Zenith India Lawyers in 2011 and now with ILS in 2012...wish them a fabulous 2013!

smart thought 9 Jan 2013, 10:05

If they were so useless, they would not be doing so well.

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