Cyril Amarchand Mangaldas partners Shruti Rajan and Garima Joshi have been admitted to Trilegal‘s partnership, according to a press release from the firm.
Both are joining in Mumbai but it is understood that CAM intends to keep them to a three-month notice period, until 20 August.
Trilegal partner Charandeep Kaur commented in the release: “Their addition provides our corporate practice a big boost in the areas of financial regulatory, corporate governance and enforcement. Both have had prolific success in their previous roles and have specialized experience and skills which are a great fit to the firm’s existing tier 1 corporate practice.”
Rajan, an 2007 NUJS Kolkata graduate, had been heading the financial regulatory practice at CAM, while Garima, a 2009 NLU Jodhpur graduate, was a partner in financial regulatory, corporate governance and enforcements practice.
Both had been with CAM / the erstwhile Amarchand Mangaldas Mumbai for their entire careers after graduation.
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ChamchaGiri4 years agointerestingtop ratedcontroversial
Why am I not surprised. When you do so much chamchagiri, you should have waited atleast for equity? Patience is a virtue not many have. The Shroff’s will never learn who to encourage and who not too.
Yes. 2 best lawyers in cyril’s quiver. In long list of missed talents. Wake up call for promoters who don’t recognise mid-tier talent and rising stars. Old story playing again.
Times have changed, bonded labour no more. Many options for those hungry and foolish.
Both Shruti and Garima are sharp lawyers, over achievers, goal oriented and no-nonsense types. They just seem so much more suited to Trilegal. Confident they'll fit in quite well. Best of luck guys.
Neutral4 years agointerestingtop ratedcontroversial
Typical CAM behaviour. Make these junior partners work like glorified principal associates so that they have no business of their own. Even if they leave, there's no loss and they have no way to get clients away from CAM.
joke’s on you, brother4 years agointerestingtop rated
Looks like your managing partner knows what they do. Because he’s choosing to keep paying them to serve their notice period instead of returning the salary he’s cut from you for being such a sincere, loyal resource.
Considering the kind of work they’ve done and high profile litigation and transactions they have advised on, you not knowing them may not be their doing :) maybe keep an ear to the ground? Or google.
Also, as a CAM person, you must know that CAM never allows people to publish under their own name. People have written books and Mrs. Shroff has proposed to slap her own name on it and put a footnote that the actual author has “assisted”.
Yeah but what's the split. Remember most firms s..w you on that! Fixed vs variable. And all know that variable never makes it to your bank. It always goes into someone else's bank.
It’s all equity at Trilegal. You make a share of the profits, like everyone else on the lockstep ladder. Mummy Papa do not pay you monthly pocket money, you grow up and earn a share of the profits here baby!
Wonder what prompted them to leave - would their teams be leaving too?
Given that CAM has been not so subtly hinting at letting go of a lot of people, I'm sure they wouldn't be particularly apprehensive about losing a few juniors in the process of losing a few partners.
While I've not worked with either of Shruti or Garima, I've heard generally good things about them, and wish them success at Trilegal! God bless.
CSS should not waste time making anniversary video and start managing the firm, otherwise in a year he and is family will only be the viewers of the firm profile.
There is no one to head regulatory practice which to my understanding is one of the money making practice of any firm.
Senior equity partners really need to wake and start managing the firm properly.
So it seems Trilegal has an interesting strategy of finding many of its homegrown counsels surplus when it comes to partnership, but at the same attracting external talent to its partnership !
Trilegal has been very clear about its relationship rules to its lawyers - when it comes to tying the knot (i.e. partnership) other person's loyalty, sacrifices, hard work or duration of relationship are not as relevant as being hot at the time of the nuptials! Standard relationship exceptions such as nagging or blackmailing one's way in, or playing a victim card, could also be there.
For Trilegal, if they promote a Counse to Partner, the counsel has no new business and the sponsoring partner needs to feed the counsel for sometime, whereas a lateral come with a book or atleast new contacts. I guess this points to the fact that Trilegal does not have that many rainmakers.
The brand has always been a family run firm and it will be like that forever. Also no one gives a [...] about salaried partners. There are plenty of them. So these women made a smart choice.
Here even a dog will be made partner provides he /she sticks around for 12 years with no self esteem and dances around the right people pretending to be working!. It's all about optics. When you become a partner, you realize you are still a dog. Just that they know your name!
To have one partner in the practice area is fantastic news. To scoop both is something else. Something is rotten at CAM for two partners to leave simultaneously.
Why did AZB miss out on this hire? It’s the usual pit stop for everyone who wants to get to Trilegal. Anuhow it is what it is. Need to get back to next boilerplate deal.
Some birds from CAM say that they keep getting invites for Bhagavad Gita sessions and town halls. The managing partners spends time asking the associates what could they do, and all that in bred sycophants do is to praise the MPs (generally). No other senior leader in the firm is visible. With all that we hear from the outside it’s a matter of time before an arm or a leg or both will leave for better avenues. Tick tick...
Yes so heard also. A sudden gravitas pull towards spirituality to divert people's minds from the fact that they won't be able to make their emi payments, not that they were getting paid well in the first place because everything was going into someone else's wallets. Sycophancy will kill this firm.
The per unit equity value of the firm (relevant for retaining equity partners) has eroded considerably for the following reasons:
1) FRP is pure advisory and major clients are foreign investors who pay mostly hourly. This revenue is gone.
2) IBC getting suspended will lead to loss of revenue from doing volume transactions. In any case, CAM was losing out on advising the prospective investors who normally pay better than acting for banks.
3) M&A and PE - don’t think the firm is doing big transactions (given the pandemic) and the market rumours. The firm was busy acting for PSU mergers when AZB and SAM were acting for actual corporate transactions.
I really hope the firm will be able to pay for 700 employees since acting as lenders counsel won’t help the firm to get enough revenue even after reducing the 20% pay cut.
Why are you assuming that FRP revenue is now gone. Both Shruti and Garima are good lawyers but the FRP work originates from the corporate or capital market partners who are still very much around. So yes loss of a couple of good lawyers but there is enough bench strength in this practice within CAM to ensure that loss of revenue is minimal.
I would actually worry about how trilegal will actually support their practice. They have not been able to really support other practices like funds or competition or real estate where the laterals have had to pretty much run on their own.
Why has CAM gone out of its way to make this in rem announcement of their notice period? Certainly a departure from their standard practice when people leave. Even for recent CAM exits to trilegal, they have only used stock bye bye responses. Clearly, the firm is bristling and realises this is a loss...
I wonder what a Fintech law practice entails.... I would think its just corporate lawyers also well versed with those prepaid instrument RBI circulars and staying on top of the new IT law landscape....
So are there guys fintech law specialists or are they experts in banking/financial laws (RBI Act, banking regulation act, NBFC rules etc....) ??
Yes, with the amount of deals they are churning out ! Within a short span of time it has created a great impact and definitely a firm to watch out for . Expect it to make it to Tier 1 by the end of this financial year.
Have worked with both and they are great lawyers. CAM has been loosing good people. This whole monkey business of one family having control n majority profits doesn't help. Good move by Trilegal n my best wishes to both of them.
People from the inner circle are leaving? Obviously, both sides feel tormented. Field day has once again arrived for gossip mongers!
With insiders who were once habituated to exchanging cursory remarks with the top management about the less prolific but more talented lawyers in the system (why else than to seal their fate!), now departing... wonder how every other confidante feels. It’s a systemic collapse I feel, and honestly I am pretty stoked.
Next what, will they dig out details of all those who left for Trilegal in the past?
Busybee4 years agointerestingtop ratedcontroversial
My assessment is that CAM is the winner in this. With due respect, this practice had become high cost (3 partners!) doing low value (compliance/ secretarial oriented) support work for other practices. These partners wont really be able to move any clients. The earlier head of practice left for a GC role before the writing was clear on the wall.
The one junior partner staying behind can easily manage the current work load. The real FRP expertise for CAM is vested elsewhere in the GC team in any case.
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Times have changed, bonded labour no more. Many options for those hungry and foolish.
Sad to see that CAM is losing so many capable partners.
Also, as a CAM person, you must know that CAM never allows people to publish under their own name. People have written books and Mrs. Shroff has proposed to slap her own name on it and put a footnote that the actual author has “assisted”.
or sitc storm in tea cup
?
Given that CAM has been not so subtly hinting at letting go of a lot of people, I'm sure they wouldn't be particularly apprehensive about losing a few juniors in the process of losing a few partners.
While I've not worked with either of Shruti or Garima, I've heard generally good things about them, and wish them success at Trilegal! God bless.
There is no one to head regulatory practice which to my understanding is one of the money making practice of any firm.
Senior equity partners really need to wake and start managing the firm properly.
Here even a dog will be made partner provides he /she sticks around for 12 years with no self esteem and dances around the right people pretending to be working!. It's all about optics. When you become a partner, you realize you are still a dog. Just that they know your name!
And this is true for both the firms
1) FRP is pure advisory and major clients are foreign investors who pay mostly hourly. This revenue is gone.
2) IBC getting suspended will lead to loss of revenue from doing volume transactions. In any case, CAM was losing out on advising the prospective investors who normally pay better than acting for banks.
3) M&A and PE - don’t think the firm is doing big transactions (given the pandemic) and the market rumours. The firm was busy acting for PSU mergers when AZB and SAM were acting for actual corporate transactions.
I really hope the firm will be able to pay for 700 employees since acting as lenders counsel won’t help the firm to get enough revenue even after reducing the 20% pay cut.
I would actually worry about how trilegal will actually support their practice. They have not been able to really support other practices like funds or competition or real estate where the laterals have had to pretty much run on their own.
So are there guys fintech law specialists or are they experts in banking/financial laws (RBI Act, banking regulation act, NBFC rules etc....) ??
Maybe it's just gender diversity
With insiders who were once habituated to exchanging cursory remarks with the top management about the less prolific but more talented lawyers in the system (why else than to seal their fate!), now departing... wonder how every other confidante feels. It’s a systemic collapse I feel, and honestly I am pretty stoked.
Next what, will they dig out details of all those who left for Trilegal in the past?
The one junior partner staying behind can easily manage the current work load. The real FRP expertise for CAM is vested elsewhere in the GC team in any case.
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