IndusLaw has ramped up its Mumbai corporate offering significantly with the hire of two from Algo Legal who are due to join: partner Siddharth Manchanda and associate partner Minhaz Lokhandwala.
According to Indus’ press release, Manchanda was heading Algo’s transactional practice and he was one of the most senior partners with significant transactional volumes, according to our deals database.
According to our sources we have also learned that he is joined by his Algo colleague associate partner (and fellow ILS Pune graduate) Minhaz Lokhandwala, who also specialises in private equity and venture capital work.
Both hadworked at Bharucha & Partners before moving to Algo breeding ground Themis Associates (seven years in Manchanda’s case).
In a press release regarding Manchanda’s joining, he commented: “Indus’s growth over the years has been phenomenal… The firm has carved out a niche for itself…”
Indus co-founding partner Suneeth Katarki added: “His expertise and experience in corporate transactions including M&A and private equity will further enhance our capabilities in Mumbai and nationally.”
Indus has recently opened up its equity partnership into a modified lockstep-style model, admitting eight non-founders to the club, as well as expanded steadily with laterals, notwithstanding the Covid-19 recession.
Algo, however, has experienced a string of departures, such as the recent departure of partner Vinayak Mishra to VC fund Lightspeed, partner Archan Chakraborty and principal associate Vijay Santosh joining PwC.
However, Algo has also hired tech entrepreneur and lawyer Ankit Guha and Veritas senior associate Siddharth Prasad as an associate partner in Mumbai.
Algo declined to comment when contacted.
Comments
It's generally people who can't get in anywhere that go to ILS.
The lawyers from non tier 1 firms hold their relationship and their clients on their own merit and not because of the firm name. If you still believe that the stars are those inTier 1 firms, food for you.
How are these guys (do they have books, clients, etc)? Does the partnership status at Indus hold any significance when compared to the Tier 1 firms?
Any clue of how firm's book is? They seem to be following the Trilegal model and seem to be doing quite well.
Thoughts?
And in case you think that the survey will hold IndusLaw in very high ranks - then I mostly humbly submit, that Your Lordship may be day dreaming. I further urge Your Lordship to examine the true facts and circumstances of the matter carefully before arriving to any conclusion.
Employees being promoted to SA in a desperate attempt to save whoever is left behind.
May be the Algorithm needs fixing