Luthra & Luthra promotes three to partner, 22 senior lawyers

Luthra - Great Wall
Luthra - Great Wall

Luthra & Luthra has elevated Pranjal Bora, Vikrant Kumar and Moushami Joshi to its partnership and made up two managing associates and 19 senior associates in a slew of internal promotions last weekend.

Delhi construction and infrastructure specialist Bora, Delhi international trade lawyer Joshi and M&A Bangalore lawyer Kumar were promoted to the partnership, while Manmeet Singh and Nayana Jhawar were promoted to managing associate level.

The firm has been looking to expand its presence in Bangalore.

Rajiv Luthra said: “This time last year we had 26 partners and with Manan Lahoty’s promotion during the year and the induction of three new promotions we’re now 30 partners in total.”

Joshi explained: “International trade law practice is quite new to the firm in the sense that was started about 4-5 years back and we have seen it grow exponentially since then.

“I would like to consolidate both the important areas of our practice i.e. anti-dumping and subsidies and government advisories. We want to maintain that balance going forward because I think that is very important for any international trade practice.”

Joshi said that her team now consisted of one managing associate, two senior associates and three associates.

The firm has also promoted 19 associates to senior associate level and recognised three special awards.

Senior associate Shishir Jose Vayttaden received the new “managing partners solitaire” award for writing a book on takeover regulations while working. For fee-earning and client-service related achievements senior associate Jitesh Shahni received the new ‘achiever of the year’ award and senior associate Aparna Mittal was awarded the ‘beyond the call of duty’ prize.

The announcements were made during an annual off-site visit to Beijing, China (pictured).

“We took over the Hardrock cafe in Beijing, including the stage and danced and sang all night,” said Rajiv Luthra.

The firm is also currently in the process of finalising its conversion to a new system of partnership remuneration, which it announced in June of last year.

“We have been exploring the lockstep model for a while and have received mixed reactions from people in the past. We’re also consulting an international expert to advise us,” said Rajiv Luthra.

“The conversion to this model is fairly easy but rather than reinventing the wheel we would like to examine the concept in detail and discuss the pros and cons with all concerned before taking the decision,” he noted. “We want to have a more holistic and modified lockstep so that it’s a win-win for all.”

Comments

Anonymous guest 6 Apr 2010, 00:42
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Just curious - how is it that these firms have more than 20 partners when the Indian Partnership Act limits the number to 20?
Anonymous guest 6 Apr 2010, 12:11
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coz they may have layers of p'ships - p'ship pe p'ship --- criss cross, zig zag.
i dont think there is any restriction on structuring

samjhe
Anonymous guest 6 Apr 2010, 16:29
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the Act restricts managing partners count up to 20 .... these promotions do not require change in the constitution of partnership under which the firm has been registered.
Anonymous guest 6 Apr 2010, 16:50
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may be Indian Partnership Act does not apply to BIG LAW FIRMS... ..
Anonymous guest 6 Apr 2010, 16:53
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Many would be salaried partners - they are just designated as partners but have no share in the partnership firm and would not be counted as partners under the Act.
Anonymous guest 6 Apr 2010, 20:51
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why the sudden rush to make people partners? afraid that foreign law firms will soon come and poach senior associates?
Anonymous guest 6 Apr 2010, 20:52
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ok - so based on 3 --- all partners after 20 are the 'salaried' partner variety --- a designation rather than status - but if you hold yourself out as a partner for the firm then the rest of the world can treat you as such....

so you can be paid the same as an equity partner even if the firm has filled up its 20 partner limit and use a bit of common law magic to get the 'salaried' partner on the hook due to holding out.... share in the risk and reward baby - there the 20 partner limit of the Companies Act has a 'tod' via some jugaad
Anonymous guest 6 Apr 2010, 21:59
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@4 why does it seem to you that there is a sudden rush to make partners? I am sure that each of the three deserved partnership, having known them from NLS days, they have also been with L&L for many years.
KoolKat 11 Apr 2010, 23:07
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Shocking that Piyush didn't make it - how can luthra discount allen and overy experience?
They ARE crazy.
Anonymous guest 12 Apr 2010, 00:46
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Enlarge the image and laugh your arse off!