Orbit Law Services has promoted four of its partners into equity, following the retirement of co-founding partner PV Rao and a corresponding widening and redistribution of equity.
The following four partners have been elevated to equity partner level:
- current senior partner Ashok Kamble,
- associate partner Vinita Hombalkar,
- associate partner Trisha Kulkarni,
- associate partner Meghana Joshi.
We understand that the minority equity stake available to the new partners consists of the stake of retiring co-founder PV Rao.
Co-founding partner Ishtiaq Ali has also formally been appointed as managing partner from now on.
He said that the changes were intended to be a “completely transparent and open structure both in the terms of financial and administrative management”.
The management at the firm would now be handled by a committee of partners (CoP) of three members, together holding 66.66% of the equity. Currently, those were Ali, co-founding partner Damodara Rao and Ashok Kamble.
“The CoP is the supreme body [and] will take all major decisions in running the firm,” explained Ali. “In addition to that we have formed Board of Advisors comprising ex-founder PV Rao and two more persons. This Board would be functional from January 2021.”
The CoP would also operate in consultation with the wider partnership.
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