Shardul-Cyril Amarchand partner VP Singh may join AZB: Market speculation

Saturday, 16 July 2016 By Legally India Law firms

Cyril Amarchand Mangaldas partner VP Singh may join AZB & Partners.

Cyril Amarchand Mangaldas partner Vijayendra Pratap Singh may join AZB & Partners, reported Bar & Bench, citing authoritative sources.

We understand that Singh has not made any announcement within Cyril Amarchand, though there is a strong rumour that he might move, according to a source claiming to have knowledge of the situation.

Singh declined to comment when contacted.

Cyril Amarchand managing partner Cyril Shroff was not reachable for comment.

As we reported in 2013, Singh had moved from what was then Amarchand Mangaldas Delhi (which is now Shardul Amarchand Mangaldas) to Amarchand Mumbai (which is now Cyril Amarchand).

In the last few months, AZB has poached corporate partner Ashwath Rau and team, headed by three partners, as well as competition partner Nisha Kaur Uberoi.

Cyril Amarchand has poached AZB Delhi senior partner Percy Billimoria to head up its Delhi office.

Comments

Vierat Kohli 16 Jul 2016, 17:59

+13 -1

CAM over. With this exit it is very clear that there is something seriously wrong at CAM.

The best talent is leaving in droves. First Ashwath (corporate), then Nisha (competition) and now VP (litigation).

Plus exits of other partners like Anu, Dhruv, Ganesh (funds), Rahul Sarella(head of Hyderabad office), Himanshu, Niraj (lit), Alok, Seshagiri etc.

Clients must be worried and associates must be terrified.

Lost Now 16 Jul 2016, 18:10

+12 -1

Oh God. Oh. My. God. Please someone tell me this isn't true.

Filtered comment 16 Jul 2016, 18:22

+5 -1

Come on people. It's CAM after all!

Filtered comment 16 Jul 2016, 18:34

+10 -0

I distinctly remember how many CAM partners had foreseen SAM's demise after bandhkavis exit. Who has the last laugh now?

Confusion! 16 Jul 2016, 19:42

+3 -7

Who is bandhkavis?

no confusion 16 Jul 2016, 23:14

+6 -5

ex-CAm/SAM partner, now in Trilegal. Exceptionally good

Bhaiyyon 16 Jul 2016, 18:40

+16 -0

Camkhatam

Best comment 18 Jul 2016, 07:49

+0 -0

I would like to refer the comment at 5 above to the list of all time best comments on LI (Kian you should make one!).

Titanic 16 Jul 2016, 18:44

+5 -2

RIP CAM. It was once a great institution but all institutions are built on professionalism and talent. And talent seems to have left the house. Catastrophic. No other explanation for so many exits.

Water bottle 16 Jul 2016, 19:01

+6 -6

Realistically speaking CAM can't get over. No institution gets over that easily. Cam's finance team is still the best in the market and capital market is also top notch. CAM's problem area is GC (M&A n PE). Apart from Cyril, who hardly runs deal now, there is no one else. Reeba n nivedita are in the Bangalore office and that's not enough. Till the time Cyril is there...matters will still come but what after him? There is no future. Probably that's the reason these smart and intelligent lawyers are leaving. They could feel that CAM has no future after Cyril.

As regards competition, well that's definitely over. Rumour is that nisha has managed to take with her some of CAM's pet n most important clients.

Barter 16 Jul 2016, 19:34

+7 -1

VP for Percy. Fair trade? VP has more litigation experience than Percy who moved from corporate to litigation a few years ago. Of lesser vintage than Ashwath and Nisha but good hire for AZB. Rumouredly four more CAM partners in talks with AZB. Ajay Bahl sends his regards.

Ufff 16 Jul 2016, 19:41

+5 -0

Put me out of my misery! Who all now? O.o

Wake-up Chambers!! 17 Jul 2016, 03:28

+15 -1

The fifth floor at Peninsula Chambers really needs to wake up. For if this is true, its going to hit them right where it hurts. The lit practice in Delhi was anyways nothing to boast about and percy is yet to prove his hire was worth it. Now, vp!! Well, was percy metal enough to loose vp over?? I doubt... VP strengthened the lit practice in mumbai over the last 3 years and is a great lawyer in his own standing... The shroffs can not cite performance issues with him either. I have faced vp and his team in a few matters myself, and they are second to none, be it mumbai or delhi... It will be interesting to see what fate the mumbai lit team of CAM has after this exit.. Is it going to fall like a pack of cards or is CAM going to try and get someone to hold the fort (or whats left of it)..

Nescafé 17 Jul 2016, 04:13

+10 -0

Time to wake up and smell the coffee VCS. Your boat is sinking.

Step by step 17 Jul 2016, 04:56

+7 -0

So CAM has virtually no litigation and competition lawyers left. The ones that remain are yes men.
CAM's corporate team is half the strength it was.
CAMs only bright spots are capital markets and finance.
Cannot call itself full service any more!
Tier 1... Then Tier 2.... And now Tier....

Tiny Owl 18 Jul 2016, 06:51

+0 -0

Agreed...

Wondering how come 6th floor finance team is still unaffected?? Or they think nothing wrong can ever happen to them till Santosh, LV n Amey are present !!![/quote]

Red Bike 17 Jul 2016, 06:12

+7 -24

Does VP even have the seniority to lead a litigation practice? He has no book and services Cyril clients. Cyril built him as he was hardly projected by AM Delhi. Is his team leaving.

Silly billy 17 Jul 2016, 06:34

+9 -1

You seriously seriously underestimate vp. Like seriously.

Ummmm 17 Jul 2016, 06:36

+7 -1

Does Percy have a book of his own? Last I heard he was transitioning zia's clients to cam. Ones she willingly allowed him to take.
And let's not even talk about [...] "book" of work!

Funny!! 17 Jul 2016, 08:46

+1 -2

You hVe no idea abt vp's book man...

CLAT 18 Jul 2016, 05:46

+4 -4

Yeah it's an amazing work of fiction!

cravath associate 17 Jul 2016, 06:21

+8 -14

All Indian firms are tier 2. Deal volume for top M&A shops like cravath was 927 billion USD. Barshay broke records by serving as lead adviser on a staggering $292 billion in M&A transactions last year alone—roughly a third of Cravath's $927 billion in announced deals in 2015. Scott Barshay and Faiza Saeed are the leading M&A lawyers of this generation. And here we call Shuva and Cyril deal makers.

Pappu associate 17 Jul 2016, 16:49

+12 -2

So law firm A in country B has achieved X deal value, hence law firm P in country Q is tier 2? Wow! I am impressed by your logic and the way it fuses total deal value in jurisdiction B and Q!

cravath associate 17 Jul 2016, 20:24

+3 -6

Indian firms are tier 2 because Indian lawyers don't really have any experience in leveraged buyouts(not permitted in India), proxy contests, contested transactions, fending activists like Carl Icahn and Ackman . Doing M&A work in US is obviously way more challenging and deal makers like Faiza or Scott can't be compared to deal makers as they have done really challenging transactions the way Faiza and Scott have. Globally Indian firms are nothing. And even you have liberalization in the legal sector, you will never have super elite firms like sullivan cromwell, wachtell, cravath or davis polk opening India offices. Bombay is no Hong Kong

Observer 18 Jul 2016, 05:06

+3 -2

Not the kind of logic I would have expected from a Cravath associate. The Indian corporate law market is in the state now what US market was in the 60s – so not fair to compare Shuva with Scott (or Cyril with Marty!). BTW I thought Scott had moved to Paul Weiss?

Cravath associate 18 Jul 2016, 18:58

+0 -1

Hey but I don't remember cyril inventing the poison pill or defending companies from the likes of Carl Icahn. I am aware of the fact that India has promoter led companies and hence very little activism. For eg South African cricket players during the 70's were very good but can;t be called among cricket's great because they did not face Australia and the West Windies So we can't really call Indian lawyers dealmakers because they really haven;t handles or dealt with really challenging transactions.

Hah 18 Jul 2016, 09:08

+3 -1

I am so sure you are not a Cravath associate... your reasoning skills are appalling son!

Heh 18 Jul 2016, 12:50

+1 -0

yeah, i know... talk about comparing apples and oranges! by cravath's logic even the junior most litigation lawyer in Delhi is better than the brightest litigation attorney the US may have to offer if we compare the experience 'we' have in appearing before the Supreme Court or having an interim order extended.

Head banging 17 Jul 2016, 06:23

+12 -0

Headline is misleading. SAM has nothing to do with it. Unless Cyril has asked Kian to move the spotlight off CAM.

Singh is King 17 Jul 2016, 09:08

+4 -1

Good Show VP. All the best

dance baby 17 Jul 2016, 09:15

+3 -0

Ab CAM ka Radio Moscow bajega. Well played

HK Lawyer 17 Jul 2016, 09:38

+5 -1

This was known and expected. His wife who decides targets for the partnership, had resigned few weeks back. Isn't this the next obvious step? Nothing new or shocking, me thinks

responsibility 17 Jul 2016, 09:59

+0 -0

Has VP quit? Doesn't seem so...no confirmation from him, Cyril or Ajay! Don't think this is very responsible on LI or B&Bs part to report this...in effect this will force VPs hand to quit.

kianganz 17 Jul 2016, 10:29

+1 -1

Agree with you in principle and in such stories we always try to wait until a more appropriate time rather than jumping the gun or at the very least until talking to the persons involved.

However, I will point out again as I have in other stories, after B&B reported it the damage was already done, and it's not like LI refusing to run it at that point puts the genie back in the bottle, or that CAM management would not contact the subject of the story to ask what's going on.

In any case, I am very clear in this report that no deal is done yet and no resignation has been handed in yet, though I have confirmed that it's not a completely spurious story and it is merely an early-stage rumour we are covering since it's now in the public domain.

When there is something more factual, we will certainly be reporting it.

News Flash 17 Jul 2016, 12:52

+0 -0

Story says VP declined to comment. If it was untrue, he would have denied. Wonder how many will follow him! Vexit#

kianganz 17 Jul 2016, 12:54

+0 -1

Well, not commenting on this specific instance, but declining to comment could also mean that he is in advanced discussions to join AZB (or sometimes it could also mean something else entirely...)

CAMxit 17 Jul 2016, 10:37

+1 -2

With so many talks of a merger b/w CAM and AZB, yeh toh Asset acquisition ho gaya. Ab what Merger will happen!?

Krazy Kya 17 Jul 2016, 11:50

+1 -0

Please. Ajay and Zia have no need of quantity. Prefer high quality. Merger in your wishful thinking.

Chaiwala 17 Jul 2016, 12:08

+4 -0

arre koi mujhe be poach kar lo bhaiya....main apni dukan mein hi hun!....aye bhai....percy bhai....shardul bhai....cyril bhai.......zia didi....haigreve baba....kujhe bhi poach hone ka ek mauka de do!

Youtube 17 Jul 2016, 13:19

+1 -0

Seems like you desperate. Try for Luthra. They desperately need above average lawyers

Sangeet Party 17 Jul 2016, 15:47

+6 -0

Even more space now it seems. CAM can rent out this space as a new revenue generating idea after the Delhi office fiasco. But on a serious note, CAM (erstwhile AMSS) partnership seems to have lost its sheen after 4 newly minted partners quit within 1 month of designation this year and had to appoint 4 others in their place 2 months later out of sheer desperation.

Bas! 18 Jul 2016, 06:38

+2 -0

What is this Sangeet Party that you speak of on *every* post? O.o

Blanket 17 Jul 2016, 19:51

+2 -0

@kian - what's the intent behind using shardul? He is a CAM partner! Has been in Mumbai office for 3 years almost.

Leaver 18 Jul 2016, 04:21

+3 -1

Vp has been treated unfairly and not projected properly. Guess it makes sense to move to AZB to be treated properly. Everyone knows what is going on at CAM. More exits to follow. Its already 11 partners and more than 70? associates who have quit.

Tell 18 Jul 2016, 05:47

+0 -0

Pray do tell if you know unless of course you're still getting over the sour taste.

Twinkler 18 Jul 2016, 13:24

+0 -1

Heard VP's clients are all following him. And his wife is joining AZB too she was Cam head of strategy. Great package deal.

kianganz 18 Jul 2016, 16:54

+2 -0

For the avoidance of doubt, have double checked, Padmini is not joining AZB... Troll. :)

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