L&L Partners Delhi-based real estate partner Sachit Mathur is understood to have tendered his resignation.
Mathur had been at L&L since 2006, and is a 2005 Delhi University law and commerce graduate.
He specialises in real estate work.
The L&L website’s real estate expertise page lists managing partner Rajiv Luthra, Mathur and partner Vaibhav Suri (a fellow 2005 Delhi University graduate who has been at Luthra’s since 2007).
We have reached out to Luthra and senior partner Mohit Saraf for comment earlier this week.
Mathur has declined to comment when contacted.
We have not been able to confirm his next steps, though rumours - including in LI comments - suggest that he may be going independent.
Mathur is the latest in a long string of partners to exit the firm since the start of the continuing (and continuing-to-be unresolved) dispute between co-founding partners Luthra and Saraf for control of the firm.
Most recently:
- homegrown IP partner Nirupam Lodha joined Khaitan & Co,
- homegrown partner Damini Bhalla left for Zomato, and
- S&R hired capital markets partner Jitesh Shahani.
That follows October 2020’s departure of Mumbai partner Apurva Jayant and Delhi-based homegrown partner Samarth Gupta.
As we had predicted back then:
The departure of two partners may be the start of a worst-case scenario for the firm: partners who can, may decide to leave rather than wait for the two equity partners to sort out their dispute.
If that happens en masse, it would be the beginning of an end, with much less left to fight over or to retain for either Luthra or Saraf, including potentially a much-diminished brand name.
That vicious downward spiral seems to be continuing with the number of departures steadily increasing, with particular concern being the exit of talent who had spent most of their careers at the firm.
Comments
Ab toh travel time ka"Sach" ka bhi exposey hogaya - read the order (on another website) if this headline: Nightmare To Travel From Noida To Delhi Which Takes Two Hours Instead Of 20 Minutes': Supreme Court Issues Notice In NOIDA Resident's Plea
concerned about their ego. They are so wrong to believe that they will be able to reconstruct the organization or their version of it. Not just the brand of the firm, but their individual reputation has taken a massive beating too. Fyi the entire policy team has been poached by SAM.
In fact an even better question would be: will we, the associates who chose to stay with L&L at the convincing of the two giants, rather than go with Manan (to what has clearly turned out to be a more stable future) receive any form of apology from the two giants?
In this pitiful situation, everyone needs to look after themselves. I can't even imagine what it's like for the partners there. Swallow your pride, if you have to, and make deals to get out to salvage your career - must be the mantra.
Jokes apart, you want them to apologise to you for the choices 'YOU' have made? (:
I have left the firm recently but I still hope sincerely that it rises back, because L&L has all the potential to be better than many T1 firms. You just need the right management.
With this fight, the loss will be of the two partners and to the support staff who will have to be laid off en masse. Associates and partners will find a new job at other firms, but just think about the consequences. Music is slowing down.
You both will look a LOT mature if you just amicably let the whole thing just go, instead of trying to drag the other person through the mud.
It used to be s super fun environment. Now very toxic.
Let's do a quick analysis of RE teams (Delhi) in top tiers and where SM can lead to:
SAM: already has MK. No space to grow.
Khaitan: has AS. No space for rival.
AZB: HS has best team. Won't go as he will have to share his clients with HS.
Trilegal: [...] Need a big name to lead the practise.
JSA: Have a team, but no one to lead.
CAM: Need a big name to lead the practise
The only places he can shift to are CAM, JSA or Trilegal.
Let's see.
https://www.barandbench.com/news/corporate/ll-partners-announces-7-increment-for-its-lawyers?fbclid=IwAR1dyyOQwLgN3O-EPanKQBtmZVw04mGbRyWIidYolhfSxL8SRm1PcgNhaGo