Desai & Diwanji tries capital markets yet again with ex-Rajani senior partner Sanjay Israni

Wednesday, 15 June 2016 By Legally India Law firms

Will Rajani's Israni be D&D's Cap Mkts match?

Rajani & Associates senior partner Sanjay Israni left the firm to head Desai & Diwanji’s capital markets team as a partner in Mumbai.

Israni’s last day at Rajani was on Friday, after 13 years at the firm since 2003. After graduating from Jitendra Chauhan Law College in 1999 he had a stint with Hariani & Co before joining Rajani.

Rajani managing partner Prem Rajani said that Israni was in charge of the firm’s domestic initial public offer (IPO) mandates, while Rajani partner Sangeeta Lakhi looked after all other mandates in its capital markets practice, alongside himself.

Rajani Associates recently demerged from Rajani & Singhania after a brief merged stint.

Israni declined to comment when contacted by Legally India.

Israni joins Desai & Diwanji after the firm lost its only other Mumbai and Delhi capital markets partners Srishti Ojha and Sumes Dewan. Ojha left to start up Verist Law in 2014 and Dewan, who also focussed on D&D’s corporate practice, left in 2014 to start up Lex Favios.

Desai & Diwanji managing partner Vishwang Desai ignored calls and messages seeking comments since yesterday.

Comments

4th Row Stalwart 15 Jun 2016, 06:14

+0 -1

Dear PGR - Should have shown some magnanimity in his comments instead of trying to put Sanjay down..

Guruji - Awesome news.. All the best boss!!!!

kianganz 15 Jun 2016, 06:20

+1 -0

Not sure if it's a put-down, it just seems to be stating that they have CM capacity remaining in Rajani, no?

4th Row Stalwart 15 Jun 2016, 06:37

+0 -0

Which is true.. We know PGR and what he means when he says what.. The 4th Row of RA interprets this as a put-down..

I tell the Truth 15 Jun 2016, 12:51

+0 -3

It is easy to comment on someone or on a situation in an adverse manner when one does not know the truth. If only you all knew the truth or gravity in this matter, I can bet none of you would have written these comments. PGR has never put Sanjay down, and definitely not in this situation. If at all, PGR has been more than kind to him during the past 2 years. In any which way, PGR and Sanjay share a close personal and professional relationship. Please do not make any uncalled for remark in the media that will sour their relationship or create bridges and misunderstandings between them.

gupt 15 Jun 2016, 06:32

+1 -1

is it true that all lawyers working in D & D don't work on retainer basis but are full time employees?

Katappa 15 Jun 2016, 07:02

Sanju Baba ne PGR ko kyun chora?? Because he, like most others in the firm, was fed up with being put down.. Sanjay was the star of RA.. Sad to see the Star leave but Im sure its for his own good and growth.. True potential can never be stopped from treading on the path of growth.. Hope that RA gets the msg and remoulds itself..

Suicide 15 Jun 2016, 07:20

+2 -1

There were easier ways to commit suicide. Why pick the most painful of them all?

vadaPao 15 Jun 2016, 07:36

+1 -2

Wondering the number of capital market transactions Rajani executed in the last two years. Probably a logical move by Sanjay. Ms. Lakhi may now have some more space to chill.

Most Sastisfied 15 Jun 2016, 12:52

+0 -2

RA was and, amongst other fields, is a capital market firm and has sufficient capital market work, which will keep the firm busy, even after Sanjay's exit. For all who came in late, it was PGR who initiated the IPO practice in this firm and is still equipped to take on IPO assignments. Other partners are equally qualified to work on capital market matters.

D&D 15 Jun 2016, 09:03

+12 -3

D&D is a quickly dying firm...

Please Stop 15 Jun 2016, 09:20

+3 -1

@ Kian - Srishti Ojha runs her practice as "Veritas Law Offices" and not as Veritas Legal (a.k.a. Abhijit Joshi law firm) as mentioned in your scoop!

kianganz 15 Jun 2016, 09:31

Sorry, that was an error in this story - should have said Verist Law, which is the name of her firm.

Proofreader 16 Jun 2016, 08:02

Jha? Ojha?

IndiaGreat 15 Jun 2016, 09:32

Everyone is incorrect - it is now Verist Legal!

She changed it, even though she had kept it before Abhijit. - Kian, simple logic of not fighting someone larger or is there something else behind why she and not Abhijit changed the name?

kianganz 15 Jun 2016, 09:47

Yes, I believe it was a pretty simple matter of not wanting to waste energy fighting a bigger firm over a name... I don't think there was any malice in it either way, was just an unfortunate coincidence that Joshi had picked the same name several months after Jha...

Proofreader 16 Jun 2016, 08:03

Danda 15 Jun 2016, 14:18

+2 -0

Finally! DnD makes the news for something.....

lentin stairs 15 Jun 2016, 14:45

good luck to all, present, past and future, we have been around for decades and we will be. such is the nature of stone.

Indus valley 17 Jun 2016, 07:38

For all the tall claims of Shroffs being the first legal family business, they should learn how to let people go in a gracious manner. Take a leaf out of Rajani's book.

Guest 17 Jun 2016, 18:55

+5 -0

Vishwang didn't respond. Not surprised. He is a snob

Lawyer Returns 18 Jun 2016, 19:26

+4 -0

When u inherit a law firm and its practice such is the situation....

Komolika 20 Jun 2016, 12:32

True that, especially when you almost single handedly bring the law firm to the current level, compared to how it was when 'inherited'

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