In what will be welcome to the firm’s corporate strength, Shardul Amarchand Mangaldas Mumbai corporate finance and M&A partner Jay Parikh is set to join Luthra & Luthra in Mumbai early next month, according to authoritative market sources.
As we had first reported on 15 May, Parikh had resigned from Shardul Amarchand around three years after having joined from Verus Advocates.
He is a 2006 graduate of NUJS Kolkata, who started his career at erstwhile Amarchand Mangaldas, moving to Bharucha & Partners in 2008 after the Bharucha family separated from the Amarchand Shroffs. In 2012, he was one of the early partners to have joined Verus.
Parikh was not reachable for comment.
We have also reached out Shardul Amarchand for comment.
Parikh will be a useful addition to Luthra, which has seen its corporate strength drop in recent years, both in terms of partners and M&A league table rankings.
In January, Luthra had also bulked up its corporate strength in Delhi with Trilegal corporate and private equity counsel Vishwanath Pratap Singh, who had joined as a partner.
Update 1 June 2018: Luthra senior partner Mohit Saraf declined to comment when we requested a comment, but Bar & Bench has also reported his move now, with Saraf confirming Parikh’s joining and adding:
We also believe that in the next 24 months, deal flow at the Firm would expand exponentially, and therefore, we are looking at hiring talented lawyers at mid and senior level.
Comments
Wish you all the best!
A true rainmaker, great times ahead for L&L and huge loss for SAM.. All the best Jay.
Clear sign L&L Mumbai is back in the big league and on track to reclaiming No. 1 position in the Mumbai market it enjoyed 10-15 years ago. All the best Jay! May the force be with you. Don’t forget your old friends big man! Take all clients who love you including me :)
He was hired by jamai babu on strength of his book, which came with him (no update by new office) and so bery obviously will go with him including his old Varis team that moved with him. ..
A DNA issue with big delhi firm like Sam, but he will thrive under Mohit and rajiv sir in delhi.
Though some more SAM exits in the offing, partners included. Oh and then there is Akila and her team
Also Takes guts to start a firm so early on, given the PQE loss and risk of missing out on big firm deals and experiece, which L&L is perfect platform for.
Give it 5-6 years and hires like jays’ will transform l&L bombay and reclaim its lost glory. Has a fat book and all his. Good luck.
Long live SAM Jamai Raja & Co.
Real world: Partner = glorified senior associates, natural progression after 7-8 years, only idiots do not become partner. Case in point nearly 95% of 2005-2007 graduates are partner.
Reality is that like many in undivided AMSS he was lucky to become a partner due to the sudden demand for more and more partners following CAM/SAM split. Obviously that kind of designation and salary is not sustainable and the cracks are starting to show now that the honeymoon period is over.
Whatever people may say on these forums LL is much below SAM and a move to LL would only take place involuntarily.
2. Delhi Corporate / M&A practice has some M&A partners - including some who strutted around being “[...] partners” for ten years and then overnight became M&A “experts”. Unfortunately, Both categories have failed to get any significant deal flow (look at any league tables in past 3 years) and the problem is lack of merit, no real experience in past few years, and overconfidence. Very sad state of affairs. Best of luck to VP who is a brilliant chap -hope the existing folks will let him be !
acclaimed blue eyed partner in Delhi react to this !!! Definitely with vp and Parekh induction, more competition in Luthra :d
Surely getting difficult for blue eyed boy. Ye Neeli Neeli ankhen ho ho ho
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