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Out of the blocks / Issue 107

Legally India newsletter
Legally India newsletter

It was an auspicious start for the Competition Commission of India (CCI), which took only 10 days of ticking clock to clear India’s first merger that was subject to anti-monopoly scrutiny.

It was also an auspicious start for AZB’s competition practice that has been content to fly beneath the radar to date, opting for limited billings to clients in the practice area until the advent of merger control.

Clearly pleased with this first outcome and the CCI’s speed so far, AZB’s Bahram Vakil praised the CCI as having been “true to its word”.

Question is whether the CCI can keep its pace once the cases start piling up.

Financial sector boutique Finsec too changed gears this week by pushing into the transactional realm with a new partner in private equity joining from ARA.

Vaish has continued building its tax know-how in Mumbai and will now start a direct tax capacity in the city with a Delhi relocation.

Blackstone has to be one of India’s most egalitarian clients. At last count the private equity giant is now happily dividing its work between at least four firms in India. Latest beneficiary: Trilegal, with Amarchand too closing a massive Blackstone deal this week. And Khaitan is still in too - tune in next week for more.

Not quite at the Blackstone level yet although keen to get there is PXV Law Partners: one of India’s most youthful, while also growing rapidly and not short of ambition. Read our firm profile for more.

A clean slate at the Bar Council of India (BCI) and the solicitor general’s office following Gopal Subramanium’s shock resignation. Widely tipped Rohinton Nariman took over as the second most senior government lawyer in the land, while the BCI opted for one of their own this time for chairman: Orissa bar council member Ashok Parija.

And despite continuing opposition in Chennai to the bar exam - which may well become Gopal Subramanium’s most remembered legacy - the new BCI is likely to continue holding course.

However, the balance of power between government, ministries, law officers, BCI and local bar councils will be anything but static in coming months.

Finally, ever heard of life after mooting? Read about India's first Vis Vienna champions to find out more...

And new this week, browse through Legally Wired where every afternoon we summarise the best of India’s legal news, rounding up all you need to know.

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