Calcutta start-up! 3 Khaitan lawyers set up Aquilaw to fill market void

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Wednesday, 30 September 2015 By Legally India Law firms

Khaitan & Co Kolkata associate partner Sucharita Basu and principal associates Sanjay Basu and Anshumala Bansal left the firm on 19 September, to start up Aquilaw.

Aquilaw currently caters to clients in the manufacturing, media and banking sector, for corporate, disputes and real estate transactions.

Basu (pictured) commented: “The reason why we took this decision was due to the lack of a full service law firm in Kolkata. [Another prominent law firm] has almost disintegrated, and [the other firms] are either [as good as] non-existent or have only one kind of practice or are family-run. The market in Kolkata is high density so we saw lots of opportunity.”

“We thought it is time we put our networking and our effort to start something on our own,” she added.

Basu was promoted to associate partner level in Khaitan’s corporate practice in April 2014, while Basu and Bansal were principal associates in, respectively, the firm’s disputes and real estate practices.

Sucharita Basu and Sanjay Basu are, respectively, Calcutta University 2001 and 1999 alumni. Sucharita Basu joined Khaitan after her LLB in 2001, Sanjay Basu worked in the chambers of senior counsel Anindya Kumar Mitra and then at Luthra & Luthra Delhi before joining Khaitan. Bansal graduated from NUJS Kolkata in 2006 and worked at Paras Kuhad & Associates before joining Khaitan in January 2008.

Aquilaw is operating from a 3,000 sq ft space across the road from Khaitan’s office on Kolkata’s Old Post Office Street. The name “Aquilaw” comes from the Latin word “Aquila”, meaning “eagle”, explained the firm in an email.

Verus Advocates Kolkata associate and 2012 graduate Prantar Basu Chaudhary has joined Aquilaw as a senior associate.

Photo by AJ Batac

Khaitan & Co Aquilaw start up law firms

Comments

yo yo 30 Sept 2015, 11:28

+2 -8

Prantar? as opposed to PArtner? guys what the hurry in reporting. check typos first.

Honey SIngh 5 Oct 2015, 09:43

+2 -0

Why not google his name? Whats the hurry in posting? check google first.

Guest 30 Sept 2015, 11:31

+4 -0

all the best anshu!! do well

Guest 30 Sept 2015, 12:15

+4 -40

lol
Who wants to practice in Calcutta. That city is dead

Lol 30 Sept 2015, 13:09

+17 -3

Amazing then, how a Kolkata based law firm has gone on to become the best law firm in this country.

Conan 30 Sept 2015, 13:23

When it strengthened its Bombay practice

Kco admirer 30 Sept 2015, 14:02

+21 -2

Bombay Practice was started by Haigreve Khaitan and Rabindra Jhunjhunwala. Haigreve himself was a product of the Kolkata office while Rabindra was brought up in Kolkata and his father was a partner and a big name in the Kolkata office of Khaitan & Co. It was also easy to strengthen their Bombay office even though it started off as late 2001 due to the goodwill earned through their Kolkata clients.

Lolcatz 2 Oct 2015, 08:16

+2 -4

Yes but its not really Kolkata that put KCO on the map. It was able to expand once it shifted its focus to other larger cities. Of course the 2 come from Kolkata, but that really isn't the differentiator.

Huh 3 Oct 2015, 18:18

+3 -4

Kolkata and Khaitan .. Not interested in both these k's.. But am surprised that there is a creature on this planet (surely only one of a kind) who is implying that the Kolkata based firm is the best law firm in this country! That sad day has not still come my friend!!

Kco admirer 30 Sept 2015, 13:10

Good to see new startups in Kolkata but Kco literally has no competition in Kolkata .

Guest 30 Sept 2015, 13:44

What about Argus Partners? How are they doing in Calcutta now? I heard that off late there has been a mass attrition from their Calcutta Office!! And how about Shardul Amarchand Mangaldas, Kolkata and RDA Legal??

Kco admirer 30 Sept 2015, 14:13

+7 -6

Keeping a very neutral view . Argus had a great team with the likes of Rishav, Mini etc. And they were doing well but they were never a realistic threat to Kco Kolkata. Not much has been heard from the SAM Kolkata office. The only real competition was the Fox & Mandal of yore. Today Fox symbolises everything which is wrong with Kolkata in general. Lacklustre, nonentreprenurial attitude of its associates and lawyers. Fox needs a heavy restructuring and should go about recruiting from the NLUs to get some talent in their office. Son are you listening?

However Khaitan has a formidable line up in Kolkata , The old guard has kept the boat steady, and they have enough stars in their young ranks to keep it as the dominant player in Kolkata.

Guest 1 Oct 2015, 06:04

Isn't Rishav still with Argus? I thought he always wanted to stay back in Argus only. Or has he shifted to their Bombay office? Although I won't be surprised if he joins the litigation team of the top 4 because that chap deserves it. Or is he joining KCO Kolkata only?? But sad to see Argus losing it's people and it's ground in Kolkata. If rumors are true, then their Principal Associate who was a 2008 NUJS pass out and who came from Amarchand Delhi also left the Firm after working for just 8 months.

lol 30 Sept 2015, 14:01

+21 -1

It's a husband-wife law firm! so why complain about family-run firms!

Guest 30 Sept 2015, 14:55

+5 -5

KCO Curious

It would be interesting to note who comes in place of Basu to fill the void.
Kolkata pravtice is doing well under Arindam Sarkar.A very sharp mind.
Argus is out of picture.Their bubble has burst.

Independent Observer 1 Oct 2015, 02:48

+7 -8

Khaitan Kolkata has too big a practice to get affected by such minor exits. Over the past few years the office has been able to build up a formidable line up of the next generation of lawyers. Arindam is in the forefront of this formidable line up - a very sharp mind with excellent management skills.
With a mix of old and new, I don't see anybody challenging Khaitan's supremacy in Kolkata in the next decade. And by the way, Khaitan is Kolkata's only fully functioning full service law firm!

Guest 3 Oct 2015, 06:21

+0 -2

NG Khaitan is the sole star in KCO, Kolkata but its a select few close to the patriach who are given prominence.

Guest 3 Oct 2015, 18:19

+0 -1

[quote name="Guest"]NG Khaitan is the sole star in KCO, Kolkata but its a select few close to the patriach who are given prominence.[/quote]

I agree!

Kco Admirer 6 Oct 2015, 16:05

+6 -1

No doubt N.G. Khaitan is a brilliant lawyer but Kco Kolkata has other stalwarts too . R.N. Jhunjhunwala is probably one of the best names in Kolkata and his lit team is fantastic. Jeevan Ballav Panda was a brilliant lawyer ( who has since moved on to Khaitan Delhi)

Guest 30 Sept 2015, 19:25

+3 -1

Yeah, Argus is truly out of the picture - Krishnava's decision to relocate was mistimed. In his absence, the office lacks a rainmaker. SAM is also too small in Kolkata to provide any competition. KCO is absolutely dominant.

Guest 3 Oct 2015, 11:35

+2 -1

KCO is absolutely dominant. It has been there since more than 100 years.

They have a good client base and good partners who have stuck around for a long time.

It will make no difference in view of the exit.

May be Arvind Jhujhunwala will have to revamp his team but overall KCO will not be affected

Hypocritical hippo 1 Oct 2015, 05:03

+8 -1

its hilarious to see a firm set up by a husband-wife duo, crib about family run firms. Also, their claim of there being no full service law firm in kolkata is plain ridiculous. I dont think they know what full service means, and once they find out - they'll know that they are far from one.

Having said that - a growing market is always welcome and I wish them the best!

Well wisher 1 Oct 2015, 11:18

+0 -0

I truly agree to it

Observer 1 Oct 2015, 06:35

+6 -0

One can agree with the preceding comment that a growing market is always welcome and there is a scope to grow in Calcutta as the market doesn't have much of a competition unlike Mumbai and Delhi. No doubt Khaitan is the undisputed king of Kolkata barring the fact that rumor says that even some of their clients are dissatisfied with them and are looking for a change in Kolkata. What Khaitan should do is to further strengthen it's team in Kolkata and try to retain them. Losing Anshumala is a loss for Khaitan and gain for aquilaw. It's important to see how this new firm shapes up it's team. Otherwise it will also bite the dust as Argus which despite of having a dynamic leader like Krishnava has been completely written off from the Kolkata market, may be because of its decisions and its failure to retain its lawyers.

green lantern 1 Oct 2015, 18:10

+1 -0

maybe this start-up is to establish valuation for a Sam acquisition with mummy-money.phuchas and sampochas.

Bezbaruah 2 Oct 2015, 10:33

This is all crappy talk from a bunch of immature minds -about some firms being written off and others being the clear leader! I have no interest in this matter but I have heard at least 3-4 big clients complain about the QUALITY of services KCO provides. Merit is very much an individual thing - the biggest law firms have some of the crappiest lawyers and some of the really small ones have some outstanding minds. And for god's sake, desist from taking names - you guys sound like a bunch of Pappu chamchaas!

Aqualung My Friend... 2 Oct 2015, 19:30

Aquilaw,pls AQUIre lots of clients....An awkward well-wisher.

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