Cyril Amarchand promotes 11 to equity partnership after long process

Tuesday, 17 September 2019 By Legally India Law firms

Cyril Amarchand Mangaldas has promoted 11 of its partners to equity partner.

The majority - seven - are based in Mumbai, with two of the new equity partners based in Delhi and two in Bangalore.f

The new equity partners (picture above, left to right, top to bottom) are:

Amita Choudary Gupta Katragadda (Nalsar Hyderabad 2005, corporate, Delhi),
Gaurav Gupte (NLSIU Bangalore 2005; insolvency, capital markets),
Namrata Kolar (NLSIU Bangalore; real estate, M&A),
Dhananjay Kumar (NLSIU Bangalore 2006 (or prior); insolvency, projects),
Gyanendra Kumar (NLSIU Bangalore 1994; real estate, M&A),
Ravi Kumar (NLSIU Bangalore 2002; corporate),
Ankoosh Mehta (GLC Mumbai; litigation),
Vandana Sekhri (GLC Mumbai; corporate),
Pranav Sharma (NLSIU Bangalore 2001; banking),
Rishabh Shroff (London School of Economics 2007; private client), and
Avinash Umapathy (NLSIU Bangalore 2000 (or prior); banking).

The firm now has 32 equity partners.

The equity promotion process has been ongoing for several months and had been expected to conclude last month.

It is understood that Shardul Amarchand Mangaldas is also in the midst of its equity partnership promotion process.

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Comments

Guest 17 Sept 2019, 14:57

+22 -5

The way the list has been presented, it seems, Ankoosh and Vandana never graduated from any law school or that only NLS graduates qualify for mentioning of their law school.

kianganz 17 Sept 2019, 15:20

+4 -5

Weren't able to confirm all alma mater actually - could someone confirm?

Ankoosh 18 Sept 2019, 04:29

+2 -2

Ankoosh graduated from GLC in the year 2000. NOt sure about Vandana but I suspect she is from GLC as well.

George Santayana 18 Sept 2019, 06:58

+8 -0

Those who cannot remember the past are condemned to repeat it.

https://www.legallyindia.com/law-firms/juris-corp-leaver-vandana-sekhri-joins-amarchand-3-associate-hires-20120227-2602

kianganz 18 Sept 2019, 07:04

+2 -1

Thanks! :)

Invisible well wisher 18 Sept 2019, 07:20

+8 -27

Congrats Ankoosh. Well deserved. One of the most down to earth, commercially astute and intelligent disputes lawyers around.

Guest 18 Sept 2019, 12:57

+9 -0

You are known for buttering NLU grads Kian

Cammiee 17 Sept 2019, 15:00

+11 -3

Few points :

1. [...] and [...] made partners! Thats not gonna please the remaining senior bunch of financing partners in CAM ([...], [...], [...])

2. [...] becoming equity is a bit of a surprise, given the reputation [...]. CAM Values in [...], anyone?

3. Rishabh Shroff becoming equity is tokenism. The idea is to push his name as a senior so that when CSS passes the baton, Vichu, Yash and Reeba would (hopefully) not question it so much

4. Amita Choudary wasnt ever less than equity - atleast in the eyes of the managing partner. most natural choice

5. [...] is a surprise entrant. This isnt going to go down well with the other senior salaried partners.

Congratulations to all.

??? 17 Sept 2019, 18:55

+1 -1

How is 1 not moderated and 5 moderated? Consistency?

purpose? 18 Sept 2019, 04:47

+29 -1

Kian, the above post with all the moderation is meaningless. No one can understand anything. When moderating, either prevent the entire post from being uploaded, or allow an unredacted version.

Mx. X 18 Sept 2019, 05:17

+18 -0

Seems Yossarian is censoring/ moderating the comments.

Merchant Banker 17 Sept 2019, 15:09

+5 -2

Apart from few expected chaps, really surprising to see [...] make it to equity. More so, because I doubt he has one standing client leave alone a book!

Lopos 17 Sept 2019, 15:15

+17 -44

Well deserved Ravi!

Wtf 17 Sept 2019, 15:49

+2 -7

That's a strong statement! To expand your equity partnership by over 50% needs some balls... Cyril is preparing to dilute ownership finally (at least on paper, as these guys may well be Class B unit holders and not Class A which is real equity) - how long will he run it as a Mom n Pop shop (given the next gen in the family isn't a crop that old hands will bow down to!) Kudos!

Barring very few, well deserved to all!

Moneybag 18 Sept 2019, 08:56

+0 -1

What do these guys make?

Moneyball 18 Sept 2019, 09:09

+2 -13

Easily 3-4 crores a year

Tax gross up 18 Sept 2019, 11:43

+23 -3

Nope. Not more than 2.They really do not make 3-4.None of them.

Yup 18 Sept 2019, 13:21

+11 -3

Only LV, Reeba and Yash will be making over 3 in CAM.

Intheknow 19 Sept 2019, 05:10

+3 -14

They are the top brass. They make way more than you can imagine. Double digit crores

Nope 19 Sept 2019, 06:09

+7 -0

Are you delusional? Double digit crores it seems.

Vichu 19 Sept 2019, 05:37

+10 -1

LV makes about10 cr a year (equity distribution included).

Yup 19 Sept 2019, 05:59

+12 -0

LV must be making that much but atleast Yash and Reeba do not make more than 4.Firm would go under if partners draw such astronomical sums.

Nope again 19 Sept 2019, 11:21

+2 -1

Trilegal founder makes almost 20/year. If that's the number for a firm with less overall revenues than CAM/SAM/AZB, then it should follow that top flight at CAM, like Reeba, LV etc bank near that range? Which should leave the other EPs in the mid-single digit crores?

All the way in 19 Sept 2019, 13:44

+1 -1

Wow! The firm could have hired a bare minimum of 100 junior associates rather than paying so much to these people. Anyway, all major client relationships belong to the MP. Instead associates should be paid more.Only very few lawyers like AR have client following. I wonder why does Cyril need these people. You just need Cyril and an army of associates ready to slave.

Insider 19 Sept 2019, 09:58

+5 -8

Santosh makes around 6. These guys would make between 2-3. Senior equity partners 5+

All the way in 19 Sept 2019, 10:09

+10 -2

There is no way on earth Santosh makes 6.LV must be making somewhere around that if not more.

busy 27 Sept 2019, 06:58

+0 -0

how many ipos or ipos has cam done this year/ or last year?

details 17 Sept 2019, 16:00

+2 -0

gyani is 93 batch of NLSIU, pranav is 2001 batch of NLSIU and Ravi is 2002 batch of NLSIU.

BalaR 18 Sept 2019, 07:14

+1 -1

Gyani is class of 94... Not 93

Dusterwala 18 Sept 2019, 08:55

+1 -0

Does he have a book or standing? What are the criteria?

more details 17 Sept 2019, 16:01

+4 -1

gaurav is 2005 batch of NLSIU and DJ is 2006 batch of NLSIU

Question 17 Sept 2019, 16:34

+1 -8

Can someone confirm if sr Patnaik (tax man in delhi) is equity ?

duh 18 Sept 2019, 12:11

+2 -1

how does it matter? anyway he's salaried....

Congo 17 Sept 2019, 18:52

+1 -4

Congratulations to all.

Wonder it must be like to be an equity partner at top firms like CAM and Luthra.

What? 17 Sept 2019, 23:03

+16 -2

CAM and [b]LUTHRA[/b]?

Lutherea 18 Sept 2019, 07:14

+14 -1

CAM compared to Luthra? SACRILEGE. Sacre Bleu! WT Chocolate Fudge! How could you even think of something like this?

Hehehe 18 Sept 2019, 04:06

+25 -1

At Luthra people are still wondering!!!

indefinite 19 Sept 2019, 18:50

+1 -0

yeah, luthra hired nick jarret and bithika in december of 2010 to disc equity model. subsequently, many internal committees have been formed and members of such committees have felt very cool about being on the "committee to discuss equity". But its only mid 2019 now. Most serious professionals who had credible client relationships (from Ajit warrier to amit shetye being the latest) have moved on. Hope the remaining ones will get equity by 2050.

Trusyed 20 Sept 2019, 12:20

+1 -0

Wow. What a brain trust!

No wonder....

Colleague 18 Sept 2019, 01:29

+11 -40

Congrats Ravi. I think Ravi is one of the sharpest lawyers around.

CAM2 18 Sept 2019, 03:54

+62 -0

In a related event this month, papa Shroff chaired a jury on wealth management awards. Only two awards were given to bestest ldaw firm/lawyer in the cosmos. Papa shroff for best firm and betachand for best lawyer. http://indiawealthawards.com/ Unbelievable, but true.

Whoa 18 Sept 2019, 17:12

+4 -0

You can't make this up! Whoa.

Alt views 19 Sept 2019, 00:33

+2 -0

Ayyyyyyye!!!

NLSIU Alum 18 Sept 2019, 04:09

+8 -2

Interesting to see [...] on the list. He's clearly highly rated, and has certainly jumped up in importance due to the IBC fueled market. Can imagine it will cause some heartburn for some seniors though (whether justified or not).

Also must be said that some of the people being elevated don't have a great reputation in the market. Would be hard pressed to find anyone who wants to be a client to [...].

Rumor 18 Sept 2019, 06:13

+2 -3

Rumor has it that he was to fill in ML's shoes in L&L. This may be the retention carrot.

C Wing 18 Sept 2019, 05:48

+39 -17

congratulations pranav - the best person to work with and always a friend of the junior associate

Guest 18 Sept 2019, 16:49

+29 -24

Pranav is a good, sharp and hard working lawyer. Well rounded international experience and has international clients to boast of. I believe that with or without the equity tag from CAM, he has a bright future, sadly with little competition being offered by his peers in the finance practice in other firms and dare I say even at CAM.

Ex CAM 19 Sept 2019, 06:38

+19 -12

Totally agree. Leena and Pranav are the actual banking partners there. Rest are either projects or one in DCM (which is irrelevant)

Ex CAM 19 Sept 2019, 06:39

+18 -17

Congrats Pranav. Perhaps the only known banking lawyer at CAM after Leena. Well deserved!!

Insider 18 Sept 2019, 07:09

+11 -0

baring two three, most don't even have enough matters to backup their EP status. but as said above, in eyes of managing partner they are, that is what matters finally.

IBC 18 Sept 2019, 07:29

+15 -59

Congratulations to Dhananjay! Easily the best insolvency lawyer in the country today. Holds his own in both litigation and transaction side of things for insolvency- even argues his own matters and is now a well known name in NCLT.

Query? 18 Sept 2019, 07:48

+2 -1

I have heard of some of these new EPs, not the others (at all). Any idea what the average PQE of this batch of CAM EPs is? Since its 8-10 years on average for salaried partner, is it another 7-8? Or more, or less? I'm guessing across the top firms, this should be more or less the same (not relevant for TL and Luthra, I know).

Query? 19 Sept 2019, 11:18

+1 -0

@Kian, come on. There seem to be 2 replies to this you haven't published. I asked a reasonable question that could be answered without slandering anyone personally. If possible, please publish (after sufficient censorship). I'm sure more readers would like to know the answer to this :)

kianganz 19 Sept 2019, 12:17

+2 -1

Neither of those replies are unfortunately answers to that question, which I agree is interesting. One is basically insulting the new batch, the other is talking about good looks. :)

Insider 18 Sept 2019, 17:05

+7 -2

Amazing as to how people like Arjun who were were salaried partners since 2008 were only given equity before the split in 2015 and most of the partners here were given equity in only 4 years of becoming junior partner.

Guesst 18 Sept 2019, 19:27

+19 -3

An amazing list! Seems to be an elaborate ploy to get baby shroff into the equity pool nominally and avoid future issues on succession. Barring three or four of the names mentioned above, none of the rest have any kind of client following that would have justified equity before the split so I guess this is yet another desperate tactic by CAM to retain its flock. Sadly such moves have severely diminshed the meaning of equity partnership which looks more like the salaried partnership of old, with the salaried partnership now being nothing but a Senior Associate. The more things change the more they remain the same.

debt 19 Sept 2019, 07:35

+13 -0

there is inequity in equity

CrackedTheCode 19 Sept 2019, 09:13

+6 -16

Go DJ!

RumourMill 19 Sept 2019, 18:38

+14 -1

A little birdie tells me that [...] (formerly assistant GC at [...]) politely refused the offer to join the equity partnership...

For someone who knows where the moolah is, that refusal to buy-in must be telling

The real story 20 Sept 2019, 04:51

+14 -0

They actually asked him to take over as the managing partner... Not just join the equity. He passed on that offer as well. Tongue very firmly in cheek, of course.

Hahaha 19 Sept 2019, 19:35

+16 -0

Is he a[b] R[/b]esolution [b]P[/b]rofessional?

Majak 20 Sept 2019, 15:34

+2 -1

Tier 1 promotions are so casual these days. Not covered or competitive like a decade ago. Wonder what the future holds.

Gulab Gang 21 Sept 2019, 01:50

+10 -2

What's the problem in that? People work hard and they are rewarded for the same. Stop this grandpa behaviour of "Hamare jamane me to esa nahi hota tha".

Future Cammie 20 Sept 2019, 17:09

+1 -3

How is Joseph’s team to work with?

Shubhkam 21 Sept 2019, 11:30

+2 -2

Hey Kian- What is Amita's practice area. She was a M&A lawyer till 2012 but has she switched to disputes?

Shubhkam 21 Sept 2019, 11:32

+0 -0

https://www.legallyindia.com/law-firms/cyril-amarchand-promotes-8-to-partner-90-in-mumbai-20160404-7389

Future CAM 28 Sept 2019, 07:42

+0 -0

Have an offer from CAM banking. Should I take it?

Commenting is closed for this article.