Dutt was part of the team of five senior associates who moved with two partners from Khaitan & Co Delhi to LKS in 2011. He joined LKS as joint partner, and was made a partner effective 1 April 2013.
He graduated as a lawyer from Delhi University in 2001 and joined the chambers of then central government standing counsel Jayant Bhushan, eventually taking on independent matters while continuing with Bhushan until 2008. He joined Khaitan in 2009.
LKS has four other joint partners in the litigation practice group, and the designation succeeds that of a principal associate at the firm.
Six-month salary
The firm’s upward revision of base salary from Rs 40,000 to Rs 60,000 per month takes on par with Phoenix Legal on according to Legally India’s 2010 table of 17 law firm starting salaries in India.
LKS joint partner Badri Narayanan told Legally India that the previous revision in base salary was made around three years ago. He said that the new base salary was constant across practices, departments and offices, but after six months with the firm around 10 per cent of that remuneration would only become payable if the firm as a whole performed well. “Every person gets a percentage if the firm does well,” he said. “The variable [is] 10 per cent or upward based on how the firm has performed.”
Last year the firm opened a second office in Delhi and an office in Pune in April, hired former Bharti Enterprises general counsel Vijaya Sampath, and moved to a bigger Bangalore office in June.
Comments
So basically they retain 10% to be paid out "at will". As is the case... firms NEVER perfom "well" when the time to release this withed amount comes!
One can only presume the functioning of the firm by the simple fact that in year 2013, the salary will be brought at par with that of the competitors in year 2010. Good talent is either not encouraged or is simply ignored, appraisals are done on perceptions rather than objective criteria. Many capable persons have left the firm in the recent past and will continue to do so.
It just sad to see where this firm is heading to given its glorious past!
One can be upfront to accept that son/daughter/in-laws will be promoted. The firm should not say that the son/daughter/in-laws are there on their own merits when they are allowed to work in every practice areas on rotation while all other attorneys are bluntly refused to change from the tax practice.
Agreed that we may not be anyone to comment, but then, the comment section is open to air views on this site. The firm chose to air its views on the same site.
Why do you say he was forced out? Based on grapevine (which, I agree, is heresay) I thought he left because he didn't like being bossed by Mumbai / got a better deal at BIg 4 accounting? Would be genuinely interested to know the "forced out" angle.