Saraf v Luthra

L&L Partners co-founder and former senior partner Mohit Saraf, who had won a Rs 77 crore-value settlement in a protracted arbitration and Delhi high court dispute and separation with fellow co-founder Rajiv Luthra, will announce the setting up of his own rival firm today, we understand according to multiple market sources.

Following his victory on Monday in the Delhi high court, co-founding partner and de facto reinstated senior partner of L&L Partners, Mohit Saraf, has responded in kind to his co-founder Rajiv Luthra with a newspaper notice that of the favourable judgment and warning the public that the public should “exercise caution in dealing with Mr. Rajiv Luthra”.

The Delhi high court has “prima facie” and “tentative[ly]" stayed the termination of senior partner Mohit Saraf’s termination from L&L Partners, the partnership he had co-founded, by managing partner Rajiv Luthra.

On 9 December 2020, the Delhi high court reserved its judgment in the saga of the acrimonious split between the co-founders of L&L Partners, Rajiv Luthra (often referred to as RKL) and Mohit Saraf (referred to as MS in court filings).

The turnover at L&L Partners’ corporate partnership (excluding the separate litigation and other partnerships) had increased by 12% between the 2018-19 and the 2019-20 financial years, revealed court filings by senior partner Mohit Saraf in the Delhi high court dispute with managing partner Rajiv Luthra.