Amarchand hires Luthra tax partner SR Patnaik as Mumbai head

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Monday, 16 September 2013 By Legally India Law firms

Amarchand Mangaldas Mumbai office scoops Luthra lawyer who’s been associated with the firm for 13 years.

Amarchand Mangaldas Mumbai office has hired SR Patnaik, who was previously a tax partner at Luthra & Luthra in Delhi, as its Mumbai tax practice head and partner.

Patnaik had been at the Luthra & Luthra accountancy firm since February 2000, which was set up by the father of Luthra & Luthra Law Offices founder Rajiv Luthra. It is currently run by his brother Amit Luthra and in 2008 the tax division of the accountancy firm was merged into the law firm.

Patnaik began his career as a chartered accountant in 1994 after his BCom in tax, accounting and business laws at Berhampur University. He later obtained his LLB from Chaudhary Charan Singh University.

Patnaik has been unreachable for comment since last week.

Update: Patnaik told Legally India that he was still at Luthra and would be joining Amarchand some time in October. “I’ve had a very great enriching experience here and this [move to Amarchand] is just in terms of my career prospects and opportunity,” he said.

Amarchand Mumbai managing partner Cyril Shroff said in a press release that Patnaik would strengthen the firm’s “specialist combination of legal and tax expertise”, which was required in complex global and national transactions. “Naturally therefore, tax lawyering is a core focus area for our firm and I see this as absolutely essential in today’s business environment… We welcome him to our Firm and wish him a successful career with us.”

Amarchand’s Delhi tax practice is headed by partner Krishnan Malhotra, who was hired last year from KPMG after the firm’s tax head Aseem Chawla left to start his own firm.

Legally India has reached out to Luthra managing partner Rajiv Luthra for comment. The firm’s capital markets partner Madhurima Mukherjee, who had previously joined the firm from Amarchand Delhi, resigned last month with three other partners having left or due to leave the firm.

Correction: An earlier version of the story erroneously stated that Patnaik had joined the Luthra law firm in 2000, when it was in fact the chartered accountancy by the same name.

Comments

abc 16 Sept 2013, 12:18

+1 -0

what about nanada shah ? Isnt she the head of tax in bombay ?

def 16 Sept 2013, 12:42

+2 -2

Nanda isnt with Amarchand anymore. I think its been a month or so since she quit. Kian any update?

Pied Piper 18 Sept 2013, 08:34

+8 -2

40-50 lawyers and about half a dozen partner departures in the last few months! "Pay time" for all the arbitrary policies? Tsch tsch.

Netizen 19 Sept 2013, 13:03

+4 -0

[quote name="Pied Piper"]40-50 lawyers and about half a dozen partner departures in the last few months! "Pay time" for all the arbitrary policies? Tsch tsch.[/quote]

Interestingly enough- all who have left are bright and very talented professionals. Leaves one to wonder if this particular firm is actually the place to be at.

Anon 16 Sept 2013, 20:27

+4 -0

She's not with AMSS anymore. Across firms one hears of how and what is going right or wrong where. Rumor has it Luthra has tried to reform over last few weeks. But if Luthra was a listed stock, I would be shorting. Only a matter of time before they do something incredibly stupid to undo it all

Guest 17 Sept 2013, 19:35

+4 -1

why doesn't luthra just 'lock-in' all its partners?? or maybe this one quit because they tried to implement some other ridiculous Mayan 'policy' in the fiefdom!

Sticker 18 Sept 2013, 04:23

+0 -0

[quote name="Guest"]why doesn't luthra just 'lock-in' all its partners?? or maybe this one quit because they tried to implement some other ridiculous Mayan 'policy' in the fiefdom![/quote]

May be fevicol a better option..... still need to see its effectiveness

Friend 16 Sept 2013, 12:35

+2 -0

Congratulations Patnaik.

Anon 16 Sept 2013, 16:44

+15 -1

Patnaik is a. Proper tax lawyer. Big loss for Luthra . Luthra is bleeding partners . Interesting that he joined Mumbai office

Dillii tax 16 Sept 2013, 16:45

+0 -1

Krishan Malhotra is not a partner. Only a senior consultant . Dilli does not have a tax partner at Amss

Honest 16 Sept 2013, 19:01

+2 -2

Missing link :

...was leading Khaitan Delhi’s indirect tax practice between 2009 and June 2013 after two years as a senior manager at KPMG India, one year at BMR Advisors, and nearly seven years at Indian Oil.He qualified as a lawyer in 2012 with an LLB from [b]Chaudhary Charan Singh University.[/b]

Amarchand Mangaldas Mumbai office has hired SR :

began his career as a chartered accountant in 1994 after his BCom in tax, accounting and business laws at Berhampur University. [b]He later obtained his LLB from Chaudhary Charan Singh University.[/b]

Can anyone tell whether CCS Univ conduct regular classes????

Clever drafting Kian

UP Citizen 17 Sept 2013, 06:01

+4 -9

Yes, being one of the most prominent universities in West UP CCSU main campus and all colleges affiliated with it do conduct regular classes for LLB and they also strictly follow BCI and UGC regulations. You have any doubts? How much you know about CCSU? Seems you are unemployed even after doing your LLB! I suggest you should visit one of the district courts of the West UP or Allahabad High Court where you can be taught law and practice. If you have already failed in your law career and have given up, you can try your hands in selling chhole bhaturey in front of one of these courts!

Jolly LLB 17 Sept 2013, 06:26

+0 -2

Good stuff on the 'missing link' at http://www.legallyindia.com/201309063957/Law-firms/manish-mishra-khaitan-joins-link-legal

Horlicks 17 Sept 2013, 04:41

+11 -5

Congratulations Patnaik! You most certainly deserve the very best and clearly the place that you left does not figure in that list.

5 Partners, multiple Managing Associates, Senior Associates and Associates leaving in a span of 2-3 months...WOW! Let the bleeding re-commence!

Anony 17 Sept 2013, 05:24

+9 -1

sanity of comments makes me think, some serious editing is goin on...

2 cents 17 Sept 2013, 09:10

+1 -2

I object! Some comments above surely rebut your claim. Here's another -
Mr. Patnaik has not indicated (removed?) on LinkedIn.com the years during which he pursued his LLB. However, his profile does show that he worked without a break after his B.Com.

Ex Luthra 17 Sept 2013, 09:19

+6 -0

Congratulations to Mr. Patnaik. Very knowledgeable, extremely helpful and provides good guidance on transactional matters.

IT Guy 17 Sept 2013, 10:21

+1 -0

Guys my sister wants to study law. Which one is better - Chaudhary Charan Singh or Amity Law?

Stratocaster 17 Sept 2013, 11:12

+10 -1

[quote name="IT Guy"]Guys my sister wants to study law. Which one is better - Chaudhary Charan Singh or Amity Law?[/quote]

It wouldn't probably make a difference to her career if these are her choices.

Guest 17 Sept 2013, 11:57

+1 -0

[quote name="IT Guy"]Guys my sister wants to study law. Which one is better - Chaudhary Charan Singh or Amity Law?[/quote]

If this is a serious question, although I have my doubts, go for Amity. But I would advise your sister to just see the options she has around her before committing to either of the two universities.

anonymous 17 Sept 2013, 11:16

+17 -3

Chaudhary Charan Singh, if she wants to get into Amarchand!!

Lol 17 Sept 2013, 11:57

+1 -1

[quote name="anonymous"]Chaudhary Charan Singh, if she wants to get into Amarchand!![/quote]

Haha.. How smart (read: sarcastic!!)

LLPosterBoy 18 Sept 2013, 07:19

+9 -1

Patnaik is a very decent, humble, polite and extremely knowledgeable guy. One of the few of the type at Luthra. Wish him all the very best in this new endeavor.

As for Luthra- people leaving is no longer news. People are unhappy. People will leave. Thats how it works. Hope that their new strategy (which they so adamantly profess) sees them through these troubled times else it might just mark the beginning of the end for this edifice that Rajiv has built. Losing hardworking and talented members is never a good thing.

boys 18 Sept 2013, 08:50

+1 -0

good to see naik in amarchand and good that the khal-naik has left and set up a small firm with the tragi-comic tag line "we understand". a tag line such as this shows the sense of judgment of a professional. [reported by noone other than Legally India] actually, we don't understand.

Pappu Vakil 18 Sept 2013, 09:52

+0 -0

We all stand under same roof!

LL Insider 18 Sept 2013, 10:54

+9 -1

Patnaik is truly a good lawyer. Understated but extremely knowledgeable and helpful. Glad to see his career taking an upward turn. Luthra to AMSS Mumbai is a very positive shift upwards. At least AMSS will pay on time! Like Madhurima was the face of the capital markets practice, Patnaik is the backbone of the tax practice. Nivedita was hard working and again a bright partner. I am not surprised to see them go given that the leadership leaves a lot to be desired.

Why 18 Sept 2013, 12:16

+2 -0

[quote name="LL Insider"]Patnaik is truly a good lawyer. Understated but extremely knowledgeable and helpful. Glad to see his career taking an upward turn. Luthra to AMSS Mumbai is a very positive shift upwards. At least AMSS will pay on time! Like Madhurima was the face of the capital markets practice, Patnaik is the backbone of the tax practice. Nivedita was hard working and again a bright partner. I am not surprised to see them go given that the leadership leaves a lot to be desired.[/quote]

Leaves the question as to why such extremely knowledgeable, helpful, hardworking and bright partners leave and why doesn't the firm cling on to such people? Is is a management thing? Professional aspiration (not being met by management) thing? Politics?
Insights? Thoughts?...

Management Guru 18 Sept 2013, 18:53

+1 -0

[quote name="Why"][quote name="LL Insider"]Patnaik is truly a good lawyer. Understated but extremely knowledgeable and helpful. Glad to see his career taking an upward turn. Luthra to AMSS Mumbai is a very positive shift upwards. At least AMSS will pay on time! Like Madhurima was the face of the capital markets practice, Patnaik is the backbone of the tax practice. Nivedita was hard working and again a bright partner. I am not surprised to see them go given that the leadership leaves a lot to be desired.[/quote]

Leaves the question as to why such extremely knowledgeable, helpful, hardworking and bright partners leave and why doesn't the firm cling on to such people? Is is a management thing? Professional aspiration (not being met by management) thing? Politics?
Insights? Thoughts?...[/quote

L&L Management funda:

"The motivation" = "De motivation"

Thus the puzzle is solved.

Observer 19 Sept 2013, 08:45

+42 -0

[quote name="Management Guru"][quote name="Why"][quote name="LL Insider"]Patnaik is truly a good lawyer. Understated but extremely knowledgeable and helpful. Glad to see his career taking an upward turn. Luthra to AMSS Mumbai is a very positive shift upwards. At least AMSS will pay on time! Like Madhurima was the face of the capital markets practice, Patnaik is the backbone of the tax practice. Nivedita was hard working and again a bright partner. I am not surprised to see them go given that the leadership leaves a lot to be desired.[/quote]

Leaves the question as to why such extremely knowledgeable, helpful, hardworking and bright partners leave and why doesn't the firm cling on to such people? Is is a management thing? Professional aspiration (not being met by management) thing? Politics?
Insights? Thoughts?...[/quote

L&L Management funda:

"The motivation" = "De motivation"

Thus the puzzle is solved.[/quote]
Observer Luthra , it appears needs to rein in its HR and also stem the outgo of talent so that it does not go the way of Juris Corp which has lost all its talented partners and seniors within a little over a year. Hope Luthra learns its lesson from Juris Corps fate

experience 20 Sept 2013, 02:48

+40 -1

Dear Observer Wrong to compare Luthra with Juris Corp Luthra is larger more established and has lost a few talented Partners and Lawyers Juris Corp which was smaller to begin with has lost 9 out of 10 non founding partners in a year and has 90 pc attrition for seniors Luthra still has a reputation while Juris Corp is abutt of jokes and may be history soon so wrong to compare apples with oranges

Luthraites 20 Sept 2013, 04:12

+40 -1

[quote name="experience"]Dear Observer Wrong to compare Luthra with Juris Corp Luthra is larger more established and has lost a few talented Partners and Lawyers Juris Corp which was smaller to begin with has lost 9 out of 10 non founding partners in a year and has 90 pc attrition for seniors Luthra still has a reputation while Juris Corp is abutt of jokes and may be history soon so wrong to compare apples with oranges[/quote]
Very demeaning for Luthra to be compared with Juris Corp which has no credibility in the market. Juris Corp has even reported different no of partners seniors in 2013 for different publications

eg R[b]SG Rankings ( separate story by LI) 15 partners 62 lawyers
Chambers 11 partners 50 lawyers
IBLJ 10 partners 40 + lawyers
Their profile shows 9 partners and that too before the departure of Hufriz Wadia and closure of Chennai office[/b]

Luthra though having a few setbacks is far more credible an it is insulting to be compared with Juris Corp

Guest 20 Sept 2013, 06:45

+38 -0

[quote name="Luthraites"][quote name="experience"]Dear Observer Wrong to compare Luthra with Juris Corp Luthra is larger more established and has lost a few talented Partners and Lawyers Juris Corp which was smaller to begin with has lost 9 out of 10 non founding partners in a year and has 90 pc attrition for seniors Luthra still has a reputation while Juris Corp is abutt of jokes and may be history soon so wrong to compare apples with oranges[/quote]
Very demeaning for Luthra to be compared with Juris Corp which has no credibility in the market. Juris Corp has even reported different no of partners seniors in 2013 for different publications

eg R[b]SG Rankings ( separate story by LI) 15 partners 62 lawyers
Chambers 11 partners 50 lawyers
IBLJ 10 partners 40 + lawyers
Their profile shows 9 partners and that too before the departure of Hufriz Wadia and closure of Chennai office[/b]

Luthra though having a few setbacks is far more credible an it is insulting to be compared with Juris Corp[/quote]
No wonder Luthraites pissed off at being compared with Juris Corp since it has set new standards in lack of credibility and bad HR

Bn there, Sn that, F# that 19 Sept 2013, 22:03

+5 -1

[quote]"The motivation" = "De motivation"[/quote]

Bulls eye. What should be achieved by a pat on the back they try to achieve by beating a bat on the head.

"If you whip a tiger like a donkey, it is foolish not to expect a tiger chewing your hand off or the donkey submitting in compliance. I have found most men to be tigers." - Mocuente

Client 19 Sept 2013, 08:20

+47 -0

AMSS , unlike most law firms realises the advantage of integrated advice ( including tax). This is imperative given the complex cross border tax, witholding tax and transfer pricing laws in India which can easily torpedo a transaction, otherwise legally sound.
Other firms merely give a tax disclaimer which results in documents being emailed to and fro between a client, law firm and CA ( ususally Big 4)firm and the "too many cooks Spoil the broth axiom" applies. It also escalates costs and sometimes important aspects "fall through the cracks"
A few years a small firm used by us called Juris Corp used to give such comprehensive excellent advice covering tax and transfer pricing since its then tax partner was a CA and a Lawyer. However I understand that after he left the firm it is like the normal law firm handing out tax disclaimers. Hope other firms take the lead from Amarchand and appoint competent Tax Practice heads

big teeth 20 Sept 2013, 10:54

+1 -2

14-It is more responsible for a to give tax disclaimer rather than than bad or non-existent tax advice. This new addition seems good. The AMSS Del tax exit was also good and timely for them.

Dentist 21 Sept 2013, 11:57

+39 -0

In transaction Law matters in India legal advice without tax advice is a car without an engine and is more often than not meaningless since tax and transfer pricing matters often can be a deal breaker. AMSS ( and a few other firms like NDA) had long realised this and therefore had an edge over other firms.

Even Juris Corp was a serious competitor about 2 years ago since it would also offer practical integrated tax and legal advice due to its tax partner (who was a Lawyer and CA)but after his exit from the firm it has become like the usual firms with lengthy tax disclaimers . Wonder why other firms are content to give legal advice without tax advice and do not follow the lead of AMSS and NDA

Client 21 Sept 2013, 12:15

+37 -1

[quote name="Dentist"]In transaction Law matters in India legal advice without tax advice is a car without an engine and is more often than not meaningless since tax and transfer pricing matters often can be a deal breaker. AMSS ( and a few other firms like NDA) had long realised this and therefore had an edge over other firms.

Even Juris Corp was a serious competitor about 2 years ago since it would also offer practical integrated tax and legal advice due to its tax partner (who was a Lawyer and CA)but after his exit from the firm it has become like the usual firms with lengthy tax disclaimers . Wonder why other firms are content to give legal advice without tax advice and do not follow the lead of AMSS and NDA[/quote]
Mr Freddy Daruwalla , the former Juris Corp Tax Partner is now with Nasikwala Law office founded by Huzefa Nasikwala ( also a former Juris Corp Partner) and their firm Nasikwala Law Office, though a small firm also gives integrated legal and tax advice unlike the majority of firms

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