The 10 Most Admired Lawyers in India

™ www.insightssuccess.in JULY 2018

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EXPERT’S VIEW

T H E

MOST ADMIRED

LAWYERS IN INDIA

Insolvency & Bankruptcy Code: Mismatch between Law and Reality

EDITOR’S PICK Reasons to Choose Law as the Most Prolific Career

Sujit Ghosh Founder Advaita legal

SUJIT GHOSH A Pioneer in Indirect Tax Laws in India

Editorial

C

hallenge, change, and uncertainty are the new norm in today's legal profession. Lawyers, also known as attorneys, act as advocates and advisors. As advocates, lawyers use evidence to defend clients at criminal and civil trials. There are many legal specialties, including environmental, international, elder, probate, and bankruptcy law. For example, environmental lawyers represent waste disposal and waste management in disputes with the Environmental Protection Agency. Lawyers specializing in intellectual property defend clients in intellectual property disputes. There are lawyers who shield insurance companies after fake claims are filed, or these lawyers can serve as advisors when an insurance company writes new policies.

Lawyers: Social Scientists Visualizing a Better Society

Improvement of a social capital requires the inclusion of more people in the field of social science. Lawyers known as house counsel are attorneys representing only one client such as a corporation. These attorneys advise their clients on government regulations, business activities, and supervise the creation of new contracts. Numerous lawyers work for government agencies. Some work as prosecutors or public defenders. Attorneys employed for the central government represent the government in civil and criminal cases, interpret laws, draft potential new laws, and provide investigative work for the justice department.

Today’s internet-connected consumers are no longer satisfied with face-to-face meetings as the sole way of doing business. Using modern communication technology, attorneys can join professionals in other fields who now conduct business without ever meeting customers in person. These lawyers use more technology today than in the past which helps them work more efficiently. Lawyers endure use of law libraries, but most lawyers use legal databases available on the internet to conduct research. There are softwares that have been designed to explore on the vast amount of legal literature and identify helpful information to be used by lawyers in their cases.

Further, it is also expected that in times to come, these industry players will increasingly work alongside AI platforms to provide greater human resource utility and better legal solutions for society as a whole. But the fundamental issue is trust that what separates the humans and machines.

Hence in the foreseeable future, nothing can or will replace human intellect and discretion in providing legal advice.

Shweta Priyadarshini Shweta Priyadarshini

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Editor-in-Chief Pooja M. Bansal Senior Editor Shraddha Deshpande Managing Editor Rajarshi Chatterjee Executive Editor Shweta Priyadarshini Contributors Bhavithiran, Abhijeet, Bhushan Art & Design Director Amol Kamble Co-designer Asha Bange Picture Editor Alex Noel Art Editor Shweta Shinde Visualiser Priyanka Rajage Business Development Manager Akansha Garewal Marketing Manager Dhruv Apte Business Development Executives Rutuja, Joan, Shraddha Research Analyst David Circulation Manager Vivek Bangade Database Management Prashant Chevale Technology Consultant Swapnil Patil sales@insightssuccess.com

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Cover Story

Interview 16

08 Priti Suri Committed to Best Practices, Code of Conduct, Ethics and Excellence

Special Prole 26

Sujit Ghosh A Pioneer in Indirect Tax Laws in India

A R T I C L E S 22

Manisha Singh A Distinguished Lawyer Advising, Handling and Practicing Intellectual Property Law

Expert’s View 30

LAWYER’S TAKE Hiring Lawyers for the Betterment of Corporates

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CHALK TALK Business and Commercial Laws Providing Complete Legal Solutions to the Business

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EDITOR’S PICK Reasons to Choose Law as the Most Prolific Career

Insolvency & Bankruptcy Code Mismatch between Law and Reality

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Bhumesh Verma A Legal-Guru of the Corp Comm Legal

Dr. (HC) K V Omprakash, Conscientia Law Associates The Foremost Expert in the Practice of Law

Krishnava Dutt A lawyer who understand the clients’ business

Tarun Gulati An Active Litigator of PDS Legal

THE 1O MOST ADMIRED

LI N I N D I AWYERS Leaders Deploying, Developing, and Engaging a Workforce with the Capabilities to Deliver to the Law Firm

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o keep up with the pace of change and successfully lead the law firm of the future, the sector needs to be more innovative. Innovation should be viewed as a strategy that benefits the firm, its clients and the legal industry as a whole. Traditional business models, the legal training system and the partnership structure can all pull against the will to change.

To become a successful lawyer one must possess good oratory skills and a strong command of language. Through Insights Success Magazine, we have introduced The 10 Most Admired Lawyers in India, in order to assist business people to choose their right lawyers.

In this issue, we have specially featured Sujit Ghosh in the cover story. He is a lawyer who practices on indirect tax mandates, including customs, excise, service tax and VAT in Advaita Legal. Sujit has focused on tax litigation appearing mostly before constitutional courts and tax tribunals.

Apart from this, we have chosen Dr. (HC) K V Omprakash, Founder & Director of Conscientia, is a Corporate Lawyer and Company Secretary by profession (since 1989). He mainly focuses into Business advisory and legal advisory services. Bhumesh Verma, Managing Partner of Corp Comm Legal which is corporate/commercial laws focused firm endeavoring to provide utmost accessibility, customization and top notch service which includes a good mix of timing, quality, and pricing. Krishnava Duttl, Managing partner of Argus Partners. Krishnava’s experience encompasses the entire repertoire of corporate practice including mergers and acquisitions, private equity, banking and finance, projects and project finance. Krishnava has closely worked with several investors and private equity funds and renowned banks and financial institutions. Tarun Gulati, Partner at PDS Legal is a name to reckon with in the world of tax and commercial laws. PDS Legal is a commercial law firm specializing in tax and commercial/ transactional laws which has earned a sterling reputation amongst corporates in India and abroad.

We also included Manisha Singh, Founder Partner of LexOrbis having the unique distinction of practicing Intellectual Property at the prosecution and enforcement levels. She has extensive experience in the post lodgment prosecution of all forms of IP assets.

Also we have Interview with Insights Success with Priti Suri, Founder and Managing Partner of PSA who gave some insightful answers highlighting the influences made by her business law firm that has carved a special niche in the Indian legal market by the high-quality of its legal service.

We have also encompassed, Pravin Anand Managing Partner of Anand&Anand who has been practicing as an Intellectual Property Lawyer. Abhishek Sharma the managing partner of Pulastya Legal Services LLP focuses on advising clients on intellectual property protection, licensing and technology transfer related issues. Neelesh Banthia owner of Banthia & Co Advocates is a diligent seasoned lawyer and has an extensive experience in dealing with legal matters across the globe and Percy Billimoria managing partner of Cyril Amarchand Mangaldas has practiced as a Chartered Accountant, has nearly three decades of professional work experience with significant expertise in disputes pertaining to commercial trans-national matters such as joint venture & project finance disputes, tax litigation and antitrust litigation.

Also, we have included articles of Insolvency and Bankruptcy Code: Mismatch between Law and Reality written by Shiju P V Partner at INDIALAW Our in-house editors have come up with some adroitly written articles such as Business and Commercial Laws Providing Complete Legal Solutions to the Business and Hiring Lawyers for the Betterment of Corporates.

Cover Story

Sujit Ghosh Founder Advaita legal

THE 1O MOST ADMIRED

LI N I N D I AWYERS

SUJIT GHOSH A Pioneer in Indirect Tax Laws in India

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I have had the privilege to

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With the grace of the divine,

appear in matters which have

been recognized by the industry and the legal fraternity as landmark decisions in their own right

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ndia is home to some very influential and powerful lawyers who can hold the entire court in awe with their fabulous argument skills. Sujit Ghosh is one such lawyer who practices on indirect tax mandates, including customs, excise, service tax and VAT. He was graduated in the year 1995 from National Law School, Bangalore. While at campus, he was hired by one of the big 6 accounting firms, i.e., Arthur Andersen, in their tax practice and was positioned in Bombay. That was the time he got initiated into the realm of tax more specifically with indirect taxes. Sujit in his 23 years of experience has specialized in all Indirect Taxes specifically Customs duty, Excise duty, Service tax, VAT, GST and has catered to clients in various sectors.

The economy in his earlier days of practicing was buoyant considering the liberalization policy that was launched in the early 90s by the, then dispensation at the federal level. This essentially increased the trade flows into India which brought in its wake myriad tax issues pertaining to imports as also domestic sale, construction and manufacture by multinational companies.

An Absolute Coincidence of Fate Sujit’s decision to become a lawyer was neither a distillate of a planned process nor borne out of any active dream harbored and nurtured since the childhood. It was a sheer quirk of fate that amongst the many competitive exams he sat for, the NLS entrance exam was the one he seemed to have cleared and that initial success (without knowing what it meant) led him to board a train to Bangalore to join a fledgling law university back then which has now come to be known as the most premier law school in India donning the number one position for the longest time – the Harvard of the East.

After spending sometime in Bombay, Sujit was transferred to the Delhi office and worked in that office for as long as Arthur Andersen existed before its global disintegration in the year 2002. Thereafter, he was hired

by Ernst and Young in their indirect tax practice and stayed with them honing his skills until 2004. In the autumn of 2004, Sujit turned entrepreneurial and joined hands with some of the ex-Arthur Andersen tax partners to form a boutique tax consulting firm by the name, BMR. It is at this firm that he diversified from infrastructure projects to other sectors such as aviation, defense, railways, and the technology sector.

Pursuing Career in Law In his new journey, Sujit spend five years in law school which was not meant to be a platform to dream or even make a guess work of what lies ahead, post his graduation. Those five years were spent (and was probably meant that way) to scratch the surface of what law meant and learn the art of corporate living in abundance and hone the skills in team work. Thus, in those five years, speaking for himself, he had no expectation from the career in law. However, as Sujit made his foray in tax consulting, and after looking around partners’ of the international accounting firms operate, the only expectation he had of his career was to gather enough skills and the right attitude to become “a trusted business advisor” for his clients. This has helped him to mold himself into one of the many tax partners, whom Sujit idolized in the firm, where he worked.

As a growing young firm, the lawyers at Advaita are staunch believers of going beyond the call of duty. The firm consists of a young, passionate and driven team of lawyers mentored by well-established leaders across its chosen practice areas. A lot of emphasis is placed on the quality and value of the deliverables being sent across to the clients and the teams achieve this by ensuring significantly higher, senior lawyer’s time spent on assignments as compared to its peers. The firm has now grown into a mid-size firm and has achieved several Advaita consists of marquee clients across all its areas of practice. a young, passionate

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and driven team of lawyers mentored by well-established leaders across its chosen practice areas

In 2010, having spent 15 years in tax consulting, Sujit decided to chase his dream to make a shift to tax litigation. Thus, he gave up the reasonably successful tax consulting career and admitted himself at the Bar Council of Delhi and started his journey as a ‘rookie’ tax litigator. Ever since then, in the past 8 years and through the birth of Advaita Legal (which he had founded in the year 2013 as a boutique tax litigation firm) Sujit has focused on tax litigation appearing mostly before constitutional courts and tax tribunals. He has also had the opportunity to brief several Senior Counsels of repute, who continue to be his role model.

Substantive Legal Expertise in a Diverse Array of Disciplines

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Yearning and Chasing his Dream of being a Tax Litigator

predominantly as a ‘tax’ firm, over the last four years the firm has expanded its practice to corporate and M&A, corporate and secretarial compliance services, contractual/commercial dispute resolution (including arbitration/mediation), employment and labour laws, intellectual property, international trade/WTO, projects and energy, restructuring and insolvency, banking and finance, anti-trust and competition laws.

Exponential Growth of Lawyers and Law Firms

The only change that has happened is the scale of operations of the law firms as also the scale of fresh lawyers entering into the professional life have both grown exponentially. Sujit states that the growth has essentially been fueled by a vibrant economy that one has seen post the liberalization. In other words, the growth has not happened because of any structural changes in the legal service in the market, that is to say back then it was a restricted market for Indian players and it continues to be so even today. In the initial years, a litigating lawyer would have a hard time to earn their living and that situation has not improved much until now.

Advising the Young Lawyers Advaita Legal was set up in September 2013 by its national head and partner, Sujit Ghosh, with a vision to provide workable legal solutions attuned to the requirements of its clientele. While originally set up

“Every branch of law is as exciting or as boring depending upon who you are working with, that is to say - no branch of law can be termed as better than the other

and the likeability of any given branch of law solely depend upon the stature of the person under whose tutelage you begin your career.”

Sujit suggests that making the correct choice of that one person or institution which could form stepping stone into the legal career is the only crucial decision that one must make. In law schools, all subjects are taught with equal importance but often students tend to gravitate towards only a few subjects presumably because they find such subjects interesting and exciting. However, that interest or excitement ought not to be the litmus test for making a decision as to which branch of law one must adopt after completing law school. Unless one finds an appropriate senior or an institution which believes in imparting knowledge and training to a young and impressionable lawyer in that branch of law which may have excited him during his academic life, the situation would be akin to a ‘square peg in a round hole’.

Achievements and Contribution as a Tax Professional Sujit recounts three achievements which he believes are the most gratified ones In the last 23 years, there have been several tax professionals who have trained under him and today all of them without exception have become icons in their own right in their chosen field.

Some have become partners in international accounting firms; some have become partners in law firms including being elevated to the judiciary. It surely makes him happy to see that somewhere in their journey towards growth and excellence; he may have had some contribution, albeit small The second achievement would be his decision to jettison the reasonably successful tax consulting practice and take up litigation as a full time career, at a very ripe age of 40, without being flustered with the possibility of failing as a litigator. The achievement lies in overcoming the fear of failure and being able to chase the dream.

The third achievement would be, to have been able to contribute in the development of tax law through some of the landmark decisions where he had the privilege to appear as the lead counsel.

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The achievement lies in overcoming the fear of failure and being able to chase the dream

“Lawyers spend a great deal of their time shoveling smoke” Sujit states that these famous words of the great jurist Oliver Wendell Holmes Jr is somewhat true that law, in fact, appears to be a maze of words (to the common man) and lawyers do make the most of it with the various interpretations that come by simply juggling words. In fact there have been several instances when critics have been very vociferous against the long and verbose judgements given by the Indian judiciary. Well, to sum it up, he sees this as a double edged sword. Sujit says that as judges and lawyers aren’t we required to read in between the lines so as to ensure justice is duly done?? But then we also need to restrain from reconstructing interpretations in different guises without conveying a singular meaning.

Awards and Accolades Sujit has been recognized as the “Tax lawyer of the Year, 2016” by the Indian National Bar Association and as “Star Tax Lawyer of the Year” by Legal Era in the year 2017 as also 2018. Sujit has been awarded the Leadership Excellence Award, 2017 for “Practice Innovation in Taxation Laws”. He has also been ranked as one of the leading indirect tax professionals in India in 2013, 2014, 2015 and 2016 by International Tax Review.

Advocating for the Independence of Judiciary Passion for excellence, innovation, hard work and selfbelief - when combined together creates a formidable concoction which, Sujit calls as the one thing which drives him every moment in his professional life. Sujit would like to see that the Indian Advocates Act is changed in keeping with the times that we live in. He would also like that more debate takes place for consideration or otherwise of a Uniform Civil Code.

Sujit Ghosh expresses that he would also like to see independence of judiciary is not compromised by any attempt by the executive.

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L WYERS Company Name

Management

Brief

Advaita Legal chambersandpartners.com

Sujit Ghosh Founder

Advaita legal is a firm of substantive legal expertise in a diverse array of disciplines, issues and industries with an in-depth understanding of administrative, regulatory and legislative processes to provide the clients with a 360° experience.

Anand and Anand anandandanand.com

Pravin Anand Managing Partner

Anand and Anand is a full service Intellectual Property law firm which advises the world’s leading companies and institutions.

Argus Partners argus-p.com

Krishnava Dutt Managing Partner

Argus Partners offers industry leading legal advice across a wide range of practice areas. The specialist team of lawyers have a reputation for delivering insightful knowledge with a high degree of multidisciplinary expertise and experience.

Banthia & Co Advocates banthialawfirm.com

Neelesh Banthia Owner

Banthia and Co. Advocates is one of the leading sole-ownership and proprietorship based law firms in India and has developed a reputation for providing exceptional representation of clients in business, litigation, property and real estate matters.

Conscientia Law Associates conscientia.in

K V Omprakash Founder & Director

Conscientia is one of the prominent one-stop full-service law firms for all your legal needs.

Corp Comm Legal corpcommlegal.in

Bhumesh Verma Partner in CorpComm

Corp Comm Legal is corporate/commercial laws focused firm endeavoring to provide utmost accessibility, customization and top notch service which includes a good mix of timing, quality, and pricing.

Percy Billimoria Head

Cyril Amarchand Mangaldas are committed to consistently delivering quality.

That means providing timely, innovative, integrated, relevant and solutionoriented legal advice, which is also cost-effective. Our lawyers strive to understand our clients’ needs and circumstances, to think independently and maintain honesty, fairness, integrity, and professionalism in everything they do.

LexOrbis lexorbis.com

Manisha Singh Founder Partner

LexOrbis is a full service Intellectual Property law firm extending IP and Legal services to global corporations, research institutions, technology driven industries and government entities in India and assisting Indian business to procure and protect Intellectual IP Rights across the globe.

PDS Legal pdslegal.com

Tarun Gulati Partner at PDS Legal

PDS Legal is a full service law firm provides clients with pragmatic legal advice and effective legal solutions.

Pulastya Legal pulastyalegal.com

Abhishek Sharma Managing Partner

Pulastya Legal is a professional law firm of advocates and legal consultants engaged in providing high-quality intellectual property and business legal services to its clients.

Cyril Amarchand Mangaldas cyrilshroff.com

Interview with Insights Success

Committed to Best Practices, Code of Conduct, Ethics and Excellence

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mprovement of social capital requires the inclusion of more people in the field of social science. Lawyers are social scientists who can help in the development of society. They have historically played leading roles in bringing much-needed change to society. The judiciary is pivotal for a nation’s development, and lawyers are the guardians of democracy.

In an interview with Insights Success, Priti Suri, Founder and Managing Partner of PSA gave some insightful answers highlighting the influences made by her business law firm that has carved a special niche in the Indian legal market by the high-quality of its legal service.

1. Brief us about your journey since the beginning of your career.

large firm model functioning - a deeper and different kind of professional ethics, to structured processes and systems, to development of a profound sense of responsibility for the advice we gave to clients on the basis of which corporations were going to take decisions, to concepts of negligence if our advice was incomplete or inaccurate. I realized that regardless of the country, some key fundamentals are global: if you work hard honestly with the key objective of securing the best result for your client, it will not evade you. As a first generational lawyer, who set up a firm this mantra has worked well and my global experience has provided valuable insights to understand concerns and business realities on both sides so that projects can be closed successfully. I firmly subscribe to the view that there are no short cuts to success. Let your work speak for you.

2. When did you decide to become a lawyer? Why?

I became a lawyer in 1986; spent a couple of years in courts in India as at that time it was the norm to join a senior practitioner in the courts. Thereafter, I spent over a decade away from India, during which time I pursed an L.L.M in the US and then worked in with two different law firms - Morrison & Foerster in New York and Schiff Hardin in Chicago. Subsequently, an opportunity took me to Paris where I got involved representing French multinationals looking to tap into the Indian market. Eventually, I came to India to set up the practice. My work with large US law firms exposed me to and gave me insights on the western

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I am an accidental lawyer as I did not decide I wanted to be a lawyer. Instead, from age 10 I decided I wanted to be India’s ambassador to Russia, without knowing how one did that. As I grew older, my career trajectory was laid out – BA and MA in History, then the UPSC exams and joining the Foreign Service. But, after I graduated from LSR and enrolled for masters in history, I realized I needed plan B too as what would happen if I did not qualify the exams. After many deliberations, law became an option since the course work was also relevant for the UPSC

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Priti Suri Founder & Managing Partner PSA

exams. So, I joined the Law Faculty at University of Delhi. And, in my first year gave the exams and qualified fully in my first attempt. However, by then I realized I was thoroughly enjoying the law and wanted to stick to it!

3. What did you expect from a career in the law?

As is clear from the above, I had no expectations. Keep in mind, when I joined the law things were very different and there was no internet. We did what we had to do. All I wanted at the time was to be known for my work and, yes, study further and get masters in law.

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4. What is that one thing which keeps you motivated?

The upbringing by my family and the faith of my parents in me which eggs me on all the time 5. Which achievements are you most gratified of?

A few things (a) The ability to secure a scholarship for my masters in law in the US in 1988-89, which was not a mean feat those days. (b) Living and working in a country where the native language was not English and I did not speak French. I moved to Paris in a pre-google era and confronted different challenges. I had no option, other than taking up the challenge and do what I had to. Thrown into the deep end of the pool, I simply had to figure out how to swim if I did not want to drown. I did not get anything easy, and, on hindsight, I am glad it was that way. (c) Then, on my return to India and as a first generational lawyer, building a firm from scratch and doing what I had to do to make it work. Again, keep in mind this was not easy in 1997. (d) Of course, happy clients and relationships that have sustained over 2 decades is something I am very grateful for. (e) In April 2017, I was honored with the prestigious “Mayre Rasmussen Award” for the Advancement of Women in International Law by the American Bar Association in Washington D.C. It was a rare honor as I am the first Asian to receive this award in its 18-year history. (f) I have been rated for two consecutive years (2016 and 2017) as one of India’s top 100 lawyers by India Business Law Journal and in October 2017, Indian Corporate Counsel Association (body of in-house counsel) recognized me as one of India’s top 100 corporate advisers. Apart from this, I am deeply grateful for the faith and the conviction that my parents, my colleagues plus clients have in me. That places a huge responsibility.

6. What differences do you see in today’s legal market compared to when you started?

The way information is available on the internet, it has both positive and negative connotations. While access to information is easy, but I find, if not used properly, there is a grave danger in using someone else’s opinion and apply them as your own to a legal problem. There is a risk of potentially retarding the thought process of people using that information without independent verification or application of mind.

7. What advice would you give to students hoping to ultimately get into the areas of law in which you are expert?

Exactly what my parents imbued in me - Work hard and the results will come. Give your best, always. And, do not compromise on quality even if others chastise you for being a perfectionist.

8. What law would you change, abolish or create?

More than changing, abolishing or creating, I would like laws to be enforced in a speedy and effective manner. Part of the challenge exists because there is a belief that implementation is limited. Actually, I would like speedier resolutions so that the aggrieved party has an effective access to a certain outcome.

9. “Lawyers spend a great deal of their time shoveling smoke.” Kindly describe.

I do not agree that it applies uniformly. I do think that conscientious lawyers aim to get to an outcome, the best they can.

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Bhumesh Verma A Legal-Guru of the Corp Comm Legal

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he legal sector has gone through some drastic transformation over the last few years. The working of the legal services sector looks more organized and professionalized than ever before. Earlier, it was all about legacies of a family pursuing the profession, but today this profession is more democratized and having a family in the profession is no more an incentive or does not give a lawyer an edge.

We keep our clients and professional associates regularly updated with regulatory changes and legal developments

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A Journey of Becoming a Leading Lawyer Being a commerce student in a school as well as at the graduation level, Bhumesh was always excited about the

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In early the stages of his career, after a brief stint in court Bhumesh realized that he was more suited temperamentally towards a corporate practice. He started his carrier at Ajay Bahl & Co (now part of AZB & Partners) and went on to become a partner at some of the leading Indian law firms. After spending 23 years with some of the best Indian law firms, he decided to open up his own firm where each client, big or small, gets the same respect and treatment irrespective of its transaction size or billing value. Corp Comm Legal is endeavoring to provide the utmost accessibility, customization and top notch service which includes a good mix of timings, quality, and pricing.

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Serving the society should be an integral part of one’s life. India has some influential and powerful lawyers, who can hold the whole court / clients in awe with their strong arguments and great confidence. To become a successful lawyer one needs to be dedicated, willing to put in hard work and long hours of research before work begins in a corporation. One such influential personality is Bhumesh Verma, Managing Partner of Corp Comm Legal, a law firm he set up after spending 23 years with some of the best Indian law firms.

commercial world and had developed a penchant for commercial laws. He has a basic understanding of law imported about contract law, partnership, company law etc. which encourage him to delve deeper into this sector.

Life Long Learning The challenge of handling or doing something new keeps Bhumesh motivated all the time. He believes in keeping his mind engaged in multiple activities. The practical experience that is required in this industry can only be

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THE 1O MOST ADMIRED

LI N I N D I AWYERS given by seasoned and competent lawyers. Bhumesh has worked with Ajay Bahl, Raman Sharma, Lira Goswami, Pinto Khaitan, Paras Kuhad and Atul Sharma who are the legends in their own right. Ameeta Verma Duggal and Subhash Bhardwaj have been the two outstanding colleagues cum friends in his amazing journey who always encouraged and enthused him to do things differently.

Speaking about the failure Bhumesh Said, “I can un-ashamedly say that I have never failed, either I win or I learnt from things or efforts that didn’t succeed” Creating Impact on Society by Art of Writing Bhumesh is passionate about sharing knowledge and experience with others. He spends some time every day to share his views on LinkedIn, writing articles on contemporary issues, contributing to legal journals and writing books as well.

There are so many books covering the theoretical aspects of contract law. Lot of students, teachers, and professionals lamented lack of a book written on practical skills by a practitioner on the subject. To provide practical information to the lawyers and management professionals as to the skills required for drafting/reviewing, he wrote a book titled ‘Practical Guide to Drafting Commercial Contracts’ which has hit the market recently. The book is written in a very simple language and has plenty of dos and don’ts, sample clauses and template contracts. Since it does not stress too much on legal aspects, it has a universal appeal, within a short span of launch, the publisher is witnessing good demand even from outside of India.

Bhumesh Verma Managing Partner Corp Comm Legal

Journal (IBLJ). Bhumesh is a keen reader, speaker, and writer. He has contributed to in-house journals of many international law firms on Indian laws. His articles on legal and business issues are followed very keenly, particularly on LinkedIn. He has written over 200 articles and 2 books in last 1 year. He is also guest faculty with law colleges and online legal education portals and conducts workshops for students and professionals on corporate laws and drafting skills.

Wise Words for Young Lawyers

According to Bhumesh, “There is a huge gap between academic knowledge imparted at college level in India and practical skillset expected at law firm or corporation.

However, most of the lawyers do not do anything to improve this situation. I am trying to be different by associating with educational institutions to bring about a change. I know my limitations but it’s no point only complaining and not trying anything on your part” Awards and Achievements Bhumesh was selected as a Chevening Scholar in 2000 by the UK government. Currently, Bhumesh is ranked in the A-list of Top 100 Indian lawyers by India Business Law

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Students should not think of legal profession only on the basis of US law practice related TV serials or legal news websites reporting campus placement packages. There is no shortcut to success and a lawyer should have the ability to work hard.

Bhumesh said, “To my mind, analytical skills, good command over language, an eye for detail, passion, confidence, and self-belief are some of the key demands of the legal profession. There are no shortcuts and the road to success can be long and tiring”.

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Lawyer’s Take

Hiring for the

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LAWYERS

Betterment

CORPORATES

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very corporate organization struggles around with some legal issues, now and then. Inorder to resolve such issues a law firm is appointed to sort out all the implicated legit affairs by some other entity. If an allegation is filed against a corporate apropos violation of regulations, then hiring a law firm or an individual lawyer helps a corporate to testify their opinion on the regarding subject. The most prior objective of a business la wyer is to serve the interests of the corporation and not the official of the corporation. Mostly, business lawyers are indulged with many amenities regarding affiliation of the business contracts as per laws terms. Business contracts is defined as a legally bounded agreement between two or more parties where they negotiate terms and conditions before making a deal. Such contracts basically include lease agreements of property and equipment, merging terms, employment agreements, and non-disclosure agreements as well. Irrespective of size, big or small, a corporate does need a mediator through which all the legal matters goes smoothly. Corporates such as pharmaceutical companies, IT sectors, telecommunication industries, energy providers corporates and also, other business vendors.

Imprinting Business Aspects over Legal Documents An agreement is only considered legal if it precisely involves invariant elements such as an offer, acceptance, intention of legal consequences, and consideration. The process of business contracts starts with a well profound discussion over exchange of information followed by negotiation, and finally ends with an agreement on mutual terms. To establish a proper comprehension between the parties, a business attorney helps in negotiating as well as makes ensure that the final contract vindicates legal aspects. Such contracts hold a clout to rejuvenate the earlier situation before the agreement. Where, an enterprise has to follow the agreement without breaching its terms or it would be considered as an illegal act and might cause penalty. Meanwhile, the business attorney has the full authority to reject the contract, if and only if it involves misleading or deceptive behavior. Such contract is considered as invalid and could be taken under breach legislation.

A corporate must seek legal advice of an attorney before getting into legal matter with any entity; securing itself from any post-faced situations, if any. An individual attorney or appointing law firms offers secure terms in favor of an enterprise and also, ensures that legal rights and business interests are well protected.

Beneficial To Enterprises in Certain Ways

Hiring a business attorney or any private law firm offers various services and work productively along it. Either its negotiating employee contracts or filing government reports, they covers it all. Although enterprises are already preoccupied by several of process, so appointing someone else for the job will loosen their burden. An attorney take cares of all the compliance matters and regulate with managers accordingly. It helps to establish a stable relationship between vendors and subcontractors for analyzing legal issues related to proposed products. Along with that, they tend to represent a corporation before administrative boards and court trials so that, the officials doesn’t have to be present during court proceedings. But, the most concern of any business attorney is to form a sustainable contract between hirer enterprises with other organizations regarding merge or acquisitions. Other hand, a business lawyer handles the real-estate affairs as well as the tax-law or bankruptcy.

The future of an enterprise is quite critically depends on an attorney, as all the compliances are implicated under its supervision. Every corporates prefers to be more secure and proactive enough to act before any critical situation. Thus, law firms are continuously adapting various amenities to perpetuate the contracts and legal issues which are meant to last longer. Business attorneys are implanting new ways in order to focus more on the cause and speeding up the time-taking processes. Hopefully, there are possibilities that hiring such business attorneys will uplift the corporate to new heights.

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A Distinguished Lawyer Advising, Handling and Practicing Intellectual Property Law

Economic Policy of 1991 and consequent opening of the economy for multinational corporations”.

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I expected that, I would one day run an organization and channelize its energy in line with the need of the society and stakeholders, thus contributing to the dynamic and evolving legal landscape in India

Manisha Singh, Founder Partner of LexOrbis, India’s premier Intellectual Property (IP) practice headquartered in New Delhi. Belonging to a service class family from Vaishali, Manisha completed her Master’s degree in Economics from Patna University and shifted to Delhi to pursue law from Campus Law Centre, Delhi University.

She was always fascinated by the legal profession and thought, choosing law as a profession would be a great way out to practice her communication and analytical expertise in a most promising manner. “I started my career as a lawyer with a general practice firm around 20 years back, when the economic spectrum of the country was undergoing a paradigm shift, particularly with the introduction of New

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he legal profession in India has undergone a strategic and substantial change over the last few decades. Nowadays, ambitious lawyers not only figure themselves in courts but mark their presence in various corporate houses, law agencies, law firms, litigation, administrative services and many more. The lawyer’s contribution to the development of the legal system has changed the meaning of ‘rule of law’ which has been much expanded and applied differently in different cases.

Experience and Expertise in All Form of IP Assets As an IP Attorney, Manisha has the unique distinction of practicing IP at the prosecution and enforcement levels. She has extensive experience in the post lodgment prosecution of all forms of IP assets. She has also been acting as a litigating counsel both at the original and appellate side in relation to IPR cases. A Masters in Economics and an LLB, she has been a prolific writer and has authored several articles on contemporary IP related issues. And she is a member of various Indian and International IP based professional bodies.

LexOrbis offers expertise in formulating IP strategies, drafting new patent cases, filing, and prosecution of IP applications in India and globally, and strategizing and handling IP litigations across the country through a team of 65 professionals, including lawyers, patent agents, and engineers across its offices in New Delhi, Mumbai, and Bengaluru.

Challenges in Building the Firm Manisha’s main objective was to assist international players who were interested in protecting and enforcing their IP assets in India. And the firm was abreast themselves with the international standards and applied that in the firm but the ecosystem in which the firm was operating was not geared to such service model. It was also very difficult for | JULY 2018 |

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Manisha Singh Founder Partner Lexorbis

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Law is regarded as a learned profession where a person uses his intellectual knowledge in the interest of other person and social welfare ™

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She believes that the main motivation comes from within.

One cannot fight with the odds in daily life if one is not self-motivated. But to be more specific, the main motivation behind setting up an Intellectual Property law firm was the love for innovation and passion to provide the protection to intellectual property, matching with international standards.

Rapid Evolution of Intellectual Property in India India emerged as a key player in the global economy and became the signatory of many international agreements with the WTO (World Trade Organization) affirming its commitment to liberalize trade such as TRIPs (Trade Related Intellectual Property Rights), TRIMs (Trade Related Investment Measures) etc. which also resulted in rapid evolution of the IP industry and so are the business regulatory environments. Many general practice and commercial and corporate advisory law firms have also expanded their services to Intellectual property services.

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“Ethics and professionalism play a very important role in the life of a lawyer. Law is regarded as a learned profession where a person uses his intellectual knowledge in the interest of other person and social welfare.” Manisha articulates “Discipline, Trust, Openness are three pillars of the legal profession and is of utmost importance for a lawyer to have certain ethical standards, only the intellectual ability will not going to serve the purpose in the long run.” One must have the required moral standing to practice law. Moreover, the duty to act in the interest of the client must also go hand in hand with the public interest.

Achievements that Added Feather to the Cap With the support of her team, Manisha has handled many

The motivation behind setting up an Intellectual Property law firm was the love for innovation and passion to provide the protection to intellectual property, matching with international standards

Technology and social media have also played a crucial role in this advancement. Most of the law firms employing cutting-edge technology systems to extract market and customer information. Online presence has also become a need of the hour. A comprehensive overall online presence through social media, online legal directories, listing in online journals and publications etc. has become very crucial for a legal business to make easy for potential clients.

Advice to the Budding Lawyers Manisha says “The initial phase of being a lawyer can be really challenging if you are from a non-law background, but it is something worth fighting for. The process from law school to court practice will bring the best in you.”

“One thing which every lawyer must have experienced in his or her career is to expect the unexpected. One never knows which unexpected challenge is heading towards 26

them. Being a lawyer requires a wide range of skills, one need to always be alert and active. To be more specific, in one day, a lawyer may have to study and analyze vast amount of information and draft the arguments supporting his case in details and at the same time he needs to make sure that all the details are correct and are in order and also advise his or her client about the general legal risks of embarking on a particular business strategy.”

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them at that stage to motivate and inspire young engineers them at that stage to motivate and inspire young engineers and scientists to take up and pursue law as a professional career.

cases which resulted in the grant of valuable commercial gains to their clients in India in the field of telecommunication, software, and life sciences. Some of the leading IP litigations also added feathers to the cap.

Manisha states, “I am happy that we could make LexOrbis, a professional organization and one of the most soughtafter IP firms for lawyers, engineers, and scientists.”

Manisha has been listed as “The Top 100 IP Leaders of India”, “The A-List – India’s Top 100 Lawyers” and “Top 100 Powerful Women in Law” Keeping in mind the level of interest and passion towards law and its various opportunities, Manisha continued her hard work and dedication with the support of her team; she has achieved few of the aforesaid goals and shall continue to be on the path of achieving further milestones in future.

LexOrbis takes pride in serving IP needs of businesses of varied sizes and structures with accuracy and a swift turnaround time in offering creative solutions to most complex legal and techno-legal issues. | JULY 2018 |

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Chalk Talk

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ommercial laws also known as business laws are fundamentally directed by Uniform Commercial Code (UCC). The Business and commercial laws were initiated in India under the Indian Contract Act, 1872. These laws deal with the issues faced by public or a particular individual. Commercial laws are the set of laws that organize business exchange practices which focus on the terms and conditions, permits, aďŹƒliate understandings and so on with respect to the businesses.

Objectives of Business and Commercial laws Business laws are helpful for an eective trade between the businesses and customers. It creates a seamless system which is fair for both the parties so that the trade can be managed rationally. Commercial and business laws as a whole signify legal services that are implemented to support the business economy as per their products and services are concerned. Also, in

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Business and Commercial Laws

Providing Complete Legal Solutions to

the Business addition, commercial laws incorporate the business expenses and security interest. Business and commercial laws are the laws that govern how to start, buy, manage, along with close or sell any type of business.

The Role of Commercial Laws in Business Development Commercial laws let businesses to handle taxation in a sensible and logical manner. The laws create a competition that is healthy for an economy which leads to the betterment of products and services at fairer prices which will indirectly help in the development of the business. The business and commercial laws play an essential role in guiding and legitimizing the process of change. The employment laws epitomize certain commercial laws which highlight the interaction of employers with the employees.

Many of the relevant business laws witnessed several changes to bring more transparency, disciplined governance, and simplification which play a key role in developing the business ethics.

The Commercial lawyers Commercial Lawyers are the counselors and legal advisors who are specialized in the business laws. They conclude and draft contracts reviewing the employment agreements or company mergers. Some of the commercial lawyers work for a particular law firm while others are appointed by a company and represent its legal interests completely.

Commercial lawyers handle the business transactions while some work for a particular corporation called as in-house attorneys. They are appointed by the government or international agencies to deal with the international business transaction practices and also review agreements related to the trade and employment.

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Legal Compliance Audit A legal compliance audit is the analysis of a company’s processes and methods about dealing with the present federal, local, and state laws. A legal audit allows assessment and prediction of the serious issues which create a distraction in the company’s point of view about the future growth. A company’s operational performance is taken into account with respect to the standards of the legal compliance audit. The proper and secure legal audit is necessary for smooth running of a business. The legal audit leads to the betterment of business entity and its organizational and managerial structure. A detailed analysis of the production, distribution, and marketing methods can be successfully attained with this legal audit.

Organizations engaged in commercial and business laws Organization works for the betterment of a business with respect to the technology. Student deal with the curriculum on properties related to intellectuality, patents, trademarks, and copyrights with respect to the student body. It provides networking and learning opportunities to students. SIPLA deals with creating awareness in the student body about employment. Organizations focus on public policies and their issues related to the economy.

Laws are necessary to build, run, and empower a business firm. . Business and commercial laws are providing complete legal solutions for the growth of a business as these laws are vitally supporting the business economy.

Predictability to legal decisions with respect to a business can be attained by knowing the business and commercial laws. These laws have initiated a wide body of laws that govern business transactions.

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Expert’s View

Insolvency & Bankruptcy Code Mismatch between Law and Reality

Shiju P Veetil Partner IndiaLaw LLP

About the Author With a profound knowledge and expertise in handling infrastructure and project nance transactions, Shiju has advised various government bodies such as the Planning Commission, NHAI, etc. on concession agreements, PPP Projects, EPC contracts, bidding process and documentation. He was a senior member of the legal team involved in drafting Model Concession Agreements for Greeneld Airports and Hospitals for the Planning Commission of India. He actively advises infrastructure companies on bidding and project documentation as well as nancial institutions and infrastructure companies on project nance transactions.

Prior to joining the Firm, Shiju was the Head of Legal, International Funds, Kotak Mahindra Group. He also worked in Nishith Desai Associates (Mumbai), Hariani & Co (Mumbai) and HSA (New Delhi). He is an alumnus of National Law School of India University, Bangalore.

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or years, India operated under an archaic insolvency regime, which allowed opposing parties to initiate competing claims before different courts and tribunals, resulting into a never ending process of debt recovery proceedings. This led to a steady increase in bad loans, making the country ranked fifth among the countries with Non-Performing Assets (“NPAs”).

The situation was so grave that the Government was left with no option but to bring a drastic change to the landscape of insolvency regime in India. This resulted in to the passage of Insolvency & Bankruptcy Code 2016 (“IBC”), often touted as a panacea to cure the rapid spreading epidemic of NPA. More than one year has been passed after IBC came into operation and it is a right time to look into the impact and effectiveness of this legislation.

What is new?

This is not the first time insolvency and debt recovery laws are enacted in India. There were various laws; some of them are specifically enacted for debt recovery and insolvency. However, none of them resulted into the haste created by this law. IBC is a special legislation on various aspects: firstly, it shifted the control of the corporate debtor from the promoters to the Resolution Professional (“RP”) and the Committee of Creditors (“CoC”) when a default occurs in terms of the IBC; secondly, it provided a time bound period for Corporate Insolvency Resolution Process (“CIRP”) of the corporate debtor; thirdly, it shifted the entire process of CIRP into a single tribunal, National Company Law Tribunal (“NCLT”) and provided a moratorium on all other legal proceeding against the corporate debtor in other courts and tribunals till completion of the CIRP; lastly but not the least, it created regulatory framework such as Insolvency and Bankruptcy Board of India (IBBI) and key constituents such as CoC, IPs etc to oversee the proceedings. All these are unprecedented, because previously the defaulters were able to prolong the proceedings for years without losing control over the corporate debtor and its assets. ™

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Evolution of IBC IBC has been evolving at a revolutionary pace. Within one and half years of its enactment, IBC had gone through two major amendments and number of judicial pronouncements.

One of the major reasons for this dynamic evolution can be attributed to the Reserve Bank of India (“RBI”), which identified 12 larger NPA accounts and directed the lenders of these accounts to refer them to NCLTs. These 12 accounts estimated to account for nearly 25% of the NPA in India. With this move, RBI set the battleground ready and what followed was an open battle among promoters, RPs, corporate debtor, financial creditors, operational creditors, bidders and every other person who has any kind of stake in the corporate debtor. The result exposed certain lacuna in the law, which is quite natural in the evolution of law. However, the real damage was caused due to the inadequate infrastructure and lack of preparedness and expertise among the key players.

RBI cannot be blamed for this result because the NPA situation of the country demanded some swift action. But the boat was already pushed into the high sea even before testing the water.

The sudden influx of cases crumbled NCLTs, which are not at all equipped to handle matters at this volume. The order of the Supreme Court that certain time periods prescribed under the IBC, such as 14 days provided for admission or rejection of an application, are not mandatory worsened the situation. Currently, many NCLTs are taking 3-6 months for admission. Such delay leads into erosion of asset and value of the corporate debtor making the whole process often meaningless.

IBC envisages handling of resolution process with minimum Court involvement but it is easier said than done due to conflicting interest among stakeholders. IP is entrusted with the task of balancing such conflicts and conduct the process in an independent and impartial manner. CoC is also expected to function with the objective of maximising the value of the debtor.

Participation in CoC is limited to financial creditor due 31

to the expectation that banks will be more interested to revive the debtor considering the overall advantage of revival than an operational creditor, who will be merely interested to recover his money. However, the independence, impartiality and maturity of these institutions came under severe Court criticism in many of these 12 accounts. Process is challenged in most of the cases due to arbitrariness. For instance, in Binani Cements resolution more than 12 applications have been filed by various stakeholders challenging the process and NCLT itself admitted that these applications were genuine. Role of CoC also came under severe criticism in many matters. Due to the supremacy of financial creditors in CoC, the claims of operational creditors are often completely ignored or neglected. Such approach seriously impaired main objective of the IBC, which is speedy of disposal of resolution process in a time bound manner with the objective maximizing the value and assets of the debtor. Most of the resolution processes are stuck in the Court at various stages and resolution process are from over in many of them.

Conclusion Rising NPA is one of the major problems facing the Indian economy. A revolutionary legal regime like IBC is necessary tackle the menace. However, law alone can’t solve any problem, howsoever effective it is. It is equally important to develop an efficient ecosystem and infrastructure for effective implementation of the law. This ecosystem and infrastructure is evolving very slowly. On the other hand, the law is evolving quite rapidly. This mismatch has already caused hurdles in the early stage of the development of the regime. It is important that the Government should take vigorous measures to develop the ecosystem and infrastructure required for the development of the new insolvency regime.

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Dr. (HC) K V Omprakash, Conscientia Law Associates The Foremost Expert in the Practice of Law

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n the present scenario, law firms are in a race to broaden topline while technology is posing disrupting challenges the entire game. The current state entails law firms to shift their professional replicas towards becoming expert and master in their preferred arenas and emerging practice areas. In a continuously evolving Indian market place, law firms with an entrepreneurial spirit and high-quality practice will thrive and prosper.

been panellists in many seminars. His forte and expertise span the spectrum of Corporate laws, IPR Laws, Corporate Governance JV, Merger & Acquisitions (M&A), Due diligence, Cyber law, Employer employee law, expansion/ diversification to the start-ups and SMEs, structuring engineering and re-engineering of corporate, advisory role on operational strategy for Start-ups/ SMEs/ large corporate, Statutory and Regulatory services, Finance and insurance

The Inception Story K V Omprakash has been awarded “Doctor of Every professional journey has a basic premise, a Excellence” for outstanding achievement and spark that provides impetus to its accomplishment in the field of Corporate accomplishments. Looking back it has Law by CIAC Global, Ahmedabad and been an interesting saga, a blend of in association with KEISEI, South ambition, entrepreneurial spirit, the Korea. He was honoured and the ardor to excel and generate Our aim is to be title “Honoris Causa” was employment opportunities for the conferred by the Chairman of young aspirants that led to the one among the top CIAC Global and KEISIE at the birth of Conscientia. legal houses in the 3rd International Education Conscientia was established in Forum held on 12th November 2006 by a team of committed country, providing 2016 at Town Hall, Bangalore. legal professionals who have He is a Rotarian and President led great exposure in the quality solutions of Rotary Basavanagudi corporate legal Compliance, Bengaluru for the year 2017Secretarial, Commercial and and expanding 2018.

Regulatory services is one of our presence pan the prominent full-service law Challenges & Hardships firms in India headquartered in India and overseas In their pursuit to excel, K V Bangalore, Karnataka and branch Omprakash and his partner, S offices in Chennai, Hyderabad, Raghavan, PCS, had to brave various Mumbai, Madurai and Singapore. odds as the journey continued. Financial stringencies, initial infrastructure bottlenecks A Techno Legal Expert and getting visibility in the corporate arena were the first Dr. (HC) K V OMPRAKASH, Founder & Director of major hurdles which they tried to address. Like any new Conscientia, is a Corporate Lawyer and Company startups, they also had a lot of teething problems such as Secretary by profession (since 1989). He mainly focuses identification, recognition and acceptance from the into Business advisory and legal advisory services. He is corporate. However, they never had inter-personal issues Mentor and strategist to Start-up/ entrepreneurs/ SME among themselves, which is a very common feature in companies and a versatile speaker on relevant topics and many startups, and that was probably their greatest strength. has been a great inspiration to entrepreneurs. Has addressed

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THE 1O MOST ADMIRED

LI N I N D I AWYERS Understanding Client requirements Conscientia has given utmost priority to “understand client requirements”. It is on the basis of this that Conscientia was able to give such exemplary customer support. It is here that the previous experience of the promoters came in handy. Providing a solution to client’s requirement is very challenging, as most clients’ look for an out-of-box solution which, according to the company cannot be applied in corporate legal assignments. The clients are always happy with their approach and appreciate their practical solutions.

Conscientia’s visibility is seen in the corporate sector. Even during global recession they have performed well.

Team Building & Trust Team building is indeed a process and a challenge for organizations world over and Conscientia was no exception.

Conscientia’s quality and robust team provides great fillip and support in all its endeavors. Strong team means good service to clients. Without a good team the growth process is hampered. A good second line is a requisite for any organization. Conscientia has always nurtured the best rapport with its clients and the team at Conscientia has fostered and cemented this trust. Fostering Trust is one of their main criteria for a long term survival and growth.

Forming a team to accomplish a defined goal is not an easy task especially for startups. Team Conscientia have most of time discovered and accepted each other’s strengths and weaknesses and learnt what their roles are that has helped them in their growth process.

Accolades: Award De Excellencia for “Service Excellence” in Professional services to Conscientia by Unified Brainze of India and World Peace and Diplomacy Organization WPDO in association with Hindu business line presented on 7th April 2018 at ITC Grand Central, Mumbai.

Opportunity &Thrust Going by the changing landscape in the corporate regulatory framework, Conscientia believes that there are five key areas which would receive momentum in prospect, namely: • Corporate Governance: With the Indian Government’s transition in the last decade from paper ling to e- ling, most of the corporate compliance has become online, which brings the spotlight on corporate governance.

• Mergers & Amalgamations: M & A is going to be the order of the day and would get the necessary boost in the future.

• Legal Process Outsourcing: After BPO, LPO has emerged as a sunrise area in BRICK countries, Conscientia would certainly work towards evolving as a leading player in this revolution which presents tremendous opportunities in the future. ™

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Dr.(Hc) K V OMPRAKASH Corporate lawyer Founder & Director

• One Stop Solutions for startups: A huge opportunity beckons! This will help startups to focus on their core areas of business and outsource the compliance aspects to professionals.

• Corporate legal matters: The Corporate Legal space would continue to play a key role since this offers several areas of practice where Conscientia has a strong team in place to leverage this ever growing opportunity.

Future Ahead Conscientia was established when the economy was not in great shape but they were able to get good clients and able to survive. Knowing its potential to grow much bigger than what they are today, and have a bigger expansion plan in place. Conscientia believes that the road ahead is challenging. So, they would like to focus more on their strengths and areas of practice. And they focused to grow ten times in the next 4 to 5 years. Indeed! With Government looking at corporate governance as an emerging and critical area to focus on, huge vistas would open up in the corporate legal framework in the coming decade. Add to this the promising triggers in the Companies amendment Act, 2013, Insolvency & Bankruptcy Code and setting up of National Company Law Tribunal (NCLT), Conscientia is working in the right earnest in joining the next big league in its growth trajectory in the corporate legal domain.

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Editor’s Pick

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n the world of hardcore competition, one must buckle up from the very early days to choose, what profession one wants to end up with. Career is a very important decision to sustain in the harsh world of reality. Future holds a number of opportunities yet, there are certain professions which will never go out of style. Law is a sector that had served; has been, and will be serving generations to come with its wisdom and reasoning. The subject has its own importance and demand in the current world’s situation is substantially growing, as the law is the only way to protect the benevolence from malice. With breaking up the aspects of law profession in few factors, the discussion can get a fulfilled by to acknowledging why one should become a lawyer or choose the subject of law as a profession.

Dignified in its Conduct

A lot of professions help to earn money, but there are very few professions which come up with certain respect and dignity; Law is definitely one of them. The knowledge about the world and its rule is what makes the profession a

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Reasons to Choose

LAW unique one and most importantly, the ability to change them as per the requirement of humane need, creates a difference for the law subject, from every other profession.

known to be one of the most moneywise professions, if and only if the profession is taken seriously, the sky is the limit when it comes to financial gratification.

Humanity drives in vein

Diversion/ Opportunities/Sectors: Law has them all

Lawyers can be professed as the leaders who can change the world to make it a better place to live. This is among the few professions which can make a huge difference to humankind and beyond. For any injustice to humankind or, environment and even to the animals, the lawyers are there to create a positive impact.

There are very few working sectors which offer a number of opportunities to choose from the subject of one’s studies.

Law has a vast implementation option in different sectors.

The importance of law is scattered in almost all the sections of life. Thus there are different sections of law to choose from. From criminal to black and white corporate law, domestic law, animal law and then sports law, and even environment law, space law, marine law, media law, fashion law and so on. The range of study and specialization is quite wide to choose from and master on.

‘Power is power’ Knowledge influences the power to change, and as per the law education, it offers the student a great deal of proficiency of the constitution and the different world organizations. Thus the lawyers are able to create a difference by saving life or environment by winning justice.

And that is the reason; this profession induces respect from the mass that eventually adds power to the profession.

Money makes difference When a profession can earn respect, power, and dignity, it becomes one of the rarest professions. But the hardcore reality is, no one wants to spend the entire life on these aspects without earning a respectable amount of money to sustain, law interestingly fulfills that section too. This is ™

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Ability to Change Lawyers are able to influence the leaders, policymakers, tycoons, entrepreneurs and affect the entire world by bringing about ‘Change’. They are the thinkers who can delve deep into any section of life to acknowledge the faults or the problems with it and can change them for better.

Flexibility in work, matters Jobs or businesses don’t give an option to choose the preferred time of work or the salary or revenue. But the law is a sector that has the ability to decide the choicest hours of 37

work, or clients and even projects and their pay scale are decided as per the quality of the lawyer. So it is the ideal profession for those who want to work on their own terms.

Erudite Pleasure is an added feature Stretching the intellectual ability with reasoning and convert a consisting situation can give anyone a certain psychological boost. The subject of Law comes with the boon of enjoying the erudite pleasure. Problem-solving, negotiating, analytic, and creative-thinking are some of the brainstorming sections that this job profile demands, which eventually creates a polished, sober, reasonable and well-knowledgeable person, with an unbiased perspective of the world.

Philanthropy and Public Service Among the few professions which are directly connected to some kind of Philanthropy and Public Service, the law can be regarded as the forerunner. A lawyer can take up a case to win justice for a person or organization by representing them on court. As law is the most scientific way to revert the unethical or wrong practices, it is one of the most celebrated professions too.

In a nutshell, seeking challenges amid adverse situations is the everyday story of the law profession. With the goal of making world a better place the work, the dedication and passion of the profession glorifies its importance. Holding the hand of the lawyers, the world can be a better place. So if anyone has the zeal of changing things for good, along with a philanthropic mind, with a dignified profession Law remains the answer for all them.

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Krishnava Dutt A lawyer who understand the clients’ business

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immeasurable. His first few years before the High Court gave him the confidence to appear before any forum—which he still uses in good stead today. He believes that ICICI has taught him the nuances of finance and understanding the business of the client, which is a singular factor for a more meaningful and well-rounded legal advice in the field of commercial law. Krishnava’s 14 years of life in law firm (a short stint at Luthra & Luthra and then at Amarchand Mangaldas for 4 years before founding Argus Partners) has been a great experience revealing the fact that everyone can follow their dreams and achieve it. “It has been a journey where I always loved what I did and did what I loved. I hope to continue to do so”, asserts Krishnava.

It has been a journey where I always loved what I did and did what I loved

“I have been fortunate to have a 3600 access to a lawyer’s professional canvas”, says Krishnava Dutt.

Krishnava graduated from Symbiosis International University, batch of 1999, with a degree in BSL LLB. He testifies that from starting as a counsel to going in house (ICICI) and finally settling in with a law firm life—it has been a wonderful journey indeed. The learning in each phase has been

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aws vary from nation to nation. They may be complex and are ever changing. A good lawyer immerses in investigating facts, unearthing nuances and precedents in the law and creating new strategies for each client and case. It is not so easy to become an efficient lawyer, with many years of education required and an exhausting exam to pass at the end, and afterward, the job demands long hours and plenty of stress. Here we have Krishnava Dutt from Argus Partners to share his vast experience spanning from the initial years of career to the present stage.

Thirst for Knowledge Asking up on the reason behind picking law as a career, without any hesitation, Krishnava replied, “the reason I decided to become a lawyer is different from the

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THE 1O MOST ADMIRED

LI N I N D I AWYERS reason I continue in its pursuit”. Digging more into the story, he shared what he learnt through practice.

Krishnava initially thought that his debating skills and analytical mind set would give a significant leverage in law as a career option. Whilst he says he was not entirely incorrect as those skills did garner for him certain advantages, but they are not enough. To continue in this profession one must be perennially thirsty for knowledge and have the ability to apply that knowledge to any given facts.

A Piece of Advice When the young you chases a dream, you trudge relentlessly to reach a vision of what you think you want to be a successful lawyer, a reputed lawyer, a senior partner of a reputable law firm. But as the journey unfolds, you realize that the landscape changes much like the levels of a video game. One level finishes opening the doors for another. Till you realize that this game has endless levels and you need to succeed in the level you are at and look forward to the next.

The same enthusiasm and energy that one experiences in moving on to the next level of the video game are what motivate Krishnava to stay positive and succeed. He also believes that with family, partners and colleagues working relentlessly, everyone can achieve all the levels that they wish to.

Krishnava Dutt Managing Partner Argus Partners

Increased competition creates a better quality of lawyers.

“Seeing the new generation coming into this profession greatly comforts me to know that the future of this profession in this country is indeed very bright”, says Krishnava.

“I strongly believe that students should explore the boundless universe of law before they decide to specialize in a particular field. That’s the immutable beauty of this profession. The challenges keep coming at you regularly. In any area of law, logic can only take you a distance. To be a successful lawyer, knowledge and its application, which can only be strengthened with reading and research, is an irreplaceable quality”, affirms Krishnava.

Increasing Competition Law is one of the main career choices today. With innumerable law schools in India, there is definitely far more competition than earlier. The fresh graduates and even the students are far more focused and informed.

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Tarun Gulati An Active Litigator of PDS Legal

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but also from their application and implementation. Tarun’s gained valuable experience working in the chambers of Joseph Vellapally, Senior Advocate, who was one of the most eminent lawyers in tax and commercial laws at the Supreme Court of India. After spending time there, Tarun moved on to ELP (formerly known as Economic Laws Practice) where he was instrumental in setting up the Delhi office of the firm. Tarun led the Delhi practice of the firm for about 10 years after which he joined as a partner in PDS Legal to lead its litigation practice. Having been at the forefront of several path breaking matters, Tarun argues matters in judicial forums across the country. He also appears regularly before the Supreme Court of India.

Every success however small is one to savour and every failure is an opportunity to learn

Tarun Gulati, Partner at PDS Legal is a name to reckon with in the world of tax and commercial laws. PDS Legal is a commercial law firm specializing in tax and commercial/ transactional laws which has earned a sterling reputation amongst corporates in India and abroad.

The firm has offices in Delhi and Mumbai from where it services its clients on pan India basis.

Tarun is a qualified chartered accountant and lawyer. This helped him to quickly develop an understanding of commercial laws not just from the theoretical perspective

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T

he legal market in India over the last decade has grown to be competitive. Competition amongst lawyers is on the rise and trends such as lawyers today actively soliciting work are commonly visible.

Clients have become far more demanding and require instant responses and deliverables which keep lawyers on their toes. With the development of software and other legal tools, research techniques have improved and help lawyers in meeting the demands of the profession. There is a quantum jump in legal fees, which has grown exponentially.

The demands, structure and economics of the legal market has undergone a complete transformation over the years.

An Inspirational Moment

Belonging to a family of tax lawyers and judges, Tarun developed an early inclination towards court practice through the conversations at home which would invariably be centered on court practice.

These court-centric conversations lay the foundations for Tarun’s interest in law and especially in taxation law even while he was still in school. This is the reason that even as a practicing chartered accountant, he was not able to keep himself away from court practice and started attending taxation tribunals. He always felt that the

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THE 1O MOST ADMIRED

LI N I N D I AWYERS exhilaration of a win in court is a ‘professional high’ which no other job can offer. Early experiences in litigation practice convinced him that law practice was his calling and he plunged into it full time. His passion is what drives him and is recognized by his clients not only in India but also internationally.

From Tarun’s point of view, “A lawyer has to move beyond the academic knowledge of law and has to mesh his knowledge of the law with experience to bring innovative, credible and practical solutions to clients.” Clients consider Tarun as a ‘trusted advisor’ and regard him as one of the best professionals in the country in the field of taxation and commercial laws. Tarun often says, “A satisfied client who appreciates the hard work and an out of the box solution is what keeps me going.”

A Litigator’s Thoughts A litigator’s life is about taking on new problems of clients every day. Tarun mentions, “You are as good or as bad as your last success or failure” Although Tarun has been part of some path breaking cases in tax and commercial law which are cited as leading precedents, he feels that in litigation, every day and every new case throws up a new challenge and a litigator must maintain his focus to succeed.

Like any committed and passionate professional, Tarun also feels that the profession leaves him with very little time to spend with his family and friends and to pursue other interests.

Tarun’s Expectation on Professional Excellence Tarun recounts that he was always told by his father and seniors that in law practice, diligence and sincerity are nonnegotiable attributes. There are no short cuts in the profession and one has to be put his heart and soul in the profession to achieve excellence. The focus has to be on doing the job at hand well. He was also told that “work passionately without the expectation of an immediate return”.

Tarun Gulati Partner at PDS Legal

Advising and Inspiring Young Lawyers The legal profession is a conservative profession and should remain just like that. Maintaining a distance from clients helps in giving fair, objective and dispassionate advice.

Lawyers should have the ability to stick to their advice which they believe to be correct. A lawyer should have the ability to say ‘no’ to a client. A lawyer’s financial interest should be completely secondary. Tarun said “The ethical standards followed by the previous generations ought to be scrupulously followed if we want the profession to remain credible.”

“The profession should not be considered as any other job.

It requires commitment and passion and should not be seen only as a means to make a living”, states Tarun.

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