Economic Times looks at law firm equities and reports: Khaitan & Co, the firm of 58 partners, 300 lawyers and 101 years, retains 15 to 25 per cent of equity with the family, while at Amarchand Mangaldas (20 equity partners, 50 salaried partners, 555 lawyers, 95 years old) around 75 per cent equity is with the Shroff family, with mother Bharti Shroff holding lifetime equity, and the veto vote resting with the family.

Jyoti Sagar at JSA and Rajiv Luthra at Luthra & Luthra are the only Sagar and Luthra, respectively, at their firms. Sagar with Mumbai senior partner Berjis Desai holds under 13 per cent of equity in the 20-strong equity partnership of the 21-year-old firm. And while family is barred from joining JSA, strict observance of the rule resulting in retainers quitting if wanting to marry each other, at Luthra the bar to family is only in terms of automatic entry.

Speculation for AZB apparently goes that founding partner Zia Mody, amongst the 17 equity partners at the firm, holds 90 per cent of the firm’s equity, but she denies the rumours [ET]