Dua Associates lawyers create break-away firm of up to 60

Tuesday, 5 January 2010 By Kian Ganz Law firms

At least 20 to 30 lawyers from Dua Associates are starting up a new national law firm with offices in Delhi, Bangalore, Hyderabad and Mumbai.

At least 20 to 30 Dua Associates lawyers are starting up a new national law firm of 60 lawyers with offices in Delhi, Bangalore, Hyderabad and Mumbai.

Dua Associates equity partners Shishir Sharma in Delhi, NK Dilip in Hyderabad and Shailendra Komatreddy in Bangalore have resigned from Dua Associates’ partnership with effect from 1 January 2010.

The three senior partners and parts of their teams are now starting up a law firm called Tatva Legal.

Sharma is Tatva Legal’s managing partner and Dilip and Komatreddy will be heading up the new firm’s Bangalore and Hyderabad offices respectively.

A majority of their current teams will also join them at Tatva Legal, which includes between at least 20 to 30 associates and a number of junior salaried partners from Dua Associates.

Dilip and Komatreddy are heading up Tatva’s Bangalore and Hyderabad offices respectively.

Dua Associates managing partner Ranji Dua confirmed the partners’ departure but added that the final number of departing lawyers was not yet confirmed.

“All this happened rather suddenly in December,” commented Dua. “It will probably take by end of the week to emerge clearly.”

It is understood that within several weeks Tatva Legal is aiming for a total headcount of 60 lawyers, including nine partners and of counsel, expecting a majority of those fee-earners to be coming from Dua Associates but taking on a number of lateral hires as well.

Tatva Legal is understood to be moving into office space of around 6,000 square feet in Gurgaon to service the Delhi market and the firm is currently finalising space in Bangalore and Hyderabad.

In Mumbai Tatva is looking to take on around five lateral lawyer hires from firms other than Dua and it is hoping to expand further in the city in future.

Tatva Legal is intended to be a full service firm with a focus on M&A and corporate work.

One of the meanings of the word Tatva in Sanskrit is ‘essence’ or ‘element’.

Tatva Legal partners declined to comment.

Not counting the departure of the Tatva Legal partners and their teams, Dua Associates consisted of around 250 lawyers and 53 equity and salaried partners across India.

Dua Associates has offices in New Delhi, Gurgaon, Mumbai, Pune, Bangalore, Chennai, Chandigarh and Hyderabad.

Meanwhile, Dua Associates has also hired two equity lateral partners and will open a Singapore office this month with the former regional general counsel of Procter & Gamble, as reported on Legally India today. Follow-up to story with updated final figures of Dua leavers.

Photo by Alan Vernon

Comments

Arcturus 5 Jan 2010, 20:51

+1 -0

This is good news. All the best to Tatva legal

Anon2 5 Jan 2010, 20:58

Good luck to Tatva, I know Shishir personally, respect him greatly and wish them all the best!

Anonymous1 5 Jan 2010, 21:35

Great news for the client community. The more the number of firms, the better it is as quality remains a focus and legal fees slide southwards. Many congratulations and best wishes to Tatva's founding partners and associates.

PROFESSIONAL 5 Jan 2010, 21:39

+1 -1

Link Legal is without a Corporate Practise head with the departure of Munish Sharma co-founder of Link Legal.Munish Sharma is an exceptionally good lawyer in M&A, Infrastructure and Project Finance areas of legal practise.

Anonymous 5 Jan 2010, 22:53

good and all the very best to TATVA LEGAL...

Anonymous 5 Jan 2010, 23:23

+0 -0

I think we need to ask this simple question as to why firms are breaking up - there has to be something wrong somewhere for most of the law firms to have people depart in large chunks. These firms need to understand that the feudal approach towards the practice of law and particularly corporate law does not work well.

Anonymous 5 Jan 2010, 23:57

The best part of all these developments is that these new firms will develop into true professional firms as these will not be owned by a single individual or a family. This is a good sign for the times to come.

Anonymous 6 Jan 2010, 19:45

All breakaway firms start with big lofty ideas of long professional practice and 'departures' from the feudal ways. Only time will tell how close these firms will stick with these ideals. That aside... Good luck to Tatva Legal. Bold move no doubt.

Anonymous 6 Jan 2010, 21:27

is due hiring?

Anonymous 6 Jan 2010, 22:20

one breaks; one makes; again, again
some dies, some survives
name it anything
feudalism,cause, professionalism, ideology
let us know its greed, self seeking
until human exists!

Anonymous 6 Jan 2010, 22:44

Couldnt they have chosen a better name!
Can you imagine a Yank pronouncing the name!

Anonymous 6 Jan 2010, 22:54

The Dua-Tatva story raises certain questions regarding the fate of multiple offices. Numerous offices across cities without control can lead to situations such as this; Dua losing its existence in Hyderabad.

Further, how does the sudden increase of breakaway firms augur for legal fees? Will this lead to competitive pricing?

Anonymous 7 Jan 2010, 00:48

Well it is no wonder. As some has already pointed out in previous post, all biggies are breaking iin to small ones. Everyone would agree that once lawyers turn Equity or Managing Partner, they act like an arrogant judge,bureaucrat or minister. They rarely realize that they are known to very few of his clients and none else. They throw all the weight around and treat everyone else, including his own staff like a s***t. So, break ups are unavoidable. All the best to beginners and a wise advice for them that they remain aware of this 'legal hard-nosism' before losing years of work and reputation to their juniors.

Anonymous 7 Jan 2010, 13:09

Exactly, after getting experience for some years they are in a mood of bossissom and they dont even accept lots to learn.I dont think Dua will be affected with this actions, its not a break up its outgoing of three or four teams.In Delhi Dua have nearly 200 associates,Bangalore It have 50 associates and in Hyderabad its very less 20 associates.So going out by some people will not make any impact on a established firm like Dua but is the do or die situation for existence of the new firm depends up on hard work of the entire team without recommended team or yeah yeah excallent team. Bossissom or dictatorship will not work and fate of the enthusiastic professionals will die.This is all master mind of one off minded counsel who put them in ........ If it runs well its good for some more professionals and be care ful its not a childs play.All the best Tatva

Anonymous 7 Jan 2010, 16:56

Shishir is a great leader. The guy will kick ass wherever he goes. This one is to watch out for. Dua...your cream has already left so please clean up if you want to stay in the game. Stop collecting clutter. Good luck Tatva.

Anonymous 8 Jan 2010, 06:44

hm.. at the risk of repeating what someone has already said - call it greed, call it an inevitable outcome of suppressed ambitions - the fact is that there is a market for as many firms, and perhaps more, and loyalty was never a criterion to tough it out in this often cruel profession. Think about it - with at least 400 well qualified lawyers joining the field every year, a resurgent economy and undying demand - there is no dearth of talent or opportunity. It's like the circle of life - been there, done that, move on and let someone else rise! No points for guessing, but firms will continue to expand, and such break-aways will continue to rise. All the best to the new firm!

Legaleye 8 Jan 2010, 21:51

Brave step..........all the very best to Tatv

Anonymous 9 Jan 2010, 02:23

I wish Tatva legal all the best for the new venture, and also look forward to a potential relationship in the long run.

Anonymous guest 2 Apr 2010, 19:26

All the Best Tatva

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