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Cubicles of Power / Issue 21

LegallyIndia_KianGanz-180
LegallyIndia_KianGanz-180
Legally India is a big fan of South Mumbai but the city's centre of legal gravity is gradually shifting North.

Both Khaitan & Co and Trilegal will take up residence in a new development in Lower Parel, joining Amarchand and several smaller firms in the area.

Last month Phoenix Legal also took a new address above the trendy nightspot Blue Frog in Lower Parel; the new office has a capacity of 30 but the firm is currently only six lawyers strong there.

And another top ten national firm is also finalising property negotiations right now in Lower Parel, even considering going as far North to Bandra.

So why is central Mumbai becoming so popular for law firms? No doubt, Amarchand having been one of the first movers there has helped.

But more vital factors are the very limited amount of real estate in the traditional legal hotspots of Nariman Point, Fort and Ballard Estate.

Plus the fact that the existing Southern office infrastructure can start to show its age, sometimes inside as well as out.

For Mumbai firms wanting swanky high-rises like the Wall Street and City firms, the only real option is to go up the peninsula.

Paras Kuhad is another direct neighbour of Amarchand in the Peninsula Corporate Park. After its somewhat complicated merger with Hemant Sahai Associates, the space may be welcome: a new corporate partner is joining the merged firm from AZB & Partners.

In Delhi too, expansion is all the rage as Vaish Associates has hired two indirect tax specialists from its erstwhile merger partner and Khaitan & Co has lured a partner back from two years in the US academic sphere.

Venture capital investment is also returning to India with Delhi's LexCounsel setting up a VC fund targeting 'innovative' investments, and three Bangalore and Mumbai firms securing series A funding for a new media technology company.

One of these firms is the Mumbai boutique start-up Sand Hill Counsel, which is located only a (long) stone's throw away from Lower Parel in Worli.

The firm's co-founding partner tells Legally India that most venture capital funds and start-up companies are based even further North than that.

So, if the migration of clients continues, will South Mumbai's corridors of legal power one day be empty? Or perhaps property prices there will finally come close to barely-affordable...

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Calling all Indian associates: Legally India is conducting a comprehensive associate satisfaction survey. Please take part, tell your friends and hopefully help to make India a happier place for all lawyers.

Finally, congratulations to the National Law School Bangalore, which has won the prestigious international Lachs Space Law competition by beating the US' Georgetown University.

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