Chandran, who had joined Kochhar’s banking practice as partner in July after three years at Singhania & Partners, said: “It is a large firm but their banking practice is quite negligible. We were not getting any big banner projects.

“The empanelment itself takes about six months and by that time the firms who are competing with you [get ahead]. I was not doing much work there.”

Chandran obtained his LLB Degree in 1990 and practiced in Kerala courts until 2002 when he joined Singhania & Co in Bombay. In 2009 he moved to head the Mumbai office of Singhania & Partners – founded by Singhania & Co founder DC Singhania’s son Ravi Singhania.

Chandran is experienced in banking, securities, foreign exchange, and dispute resolution, and is also a counsel for SEBI and the EPF Board and various other public and private sector banks, stated PDS & Associates in a press release.

He told Legally India that four associates who had worked with him at Singhania & Co would soon join him at PDS where he has joined as the fourth partner.

“2012 has been a bad year for everyone [in the banking practice], the banks were very cautious. But things should look up now,” he added.

A Kochhar & Co spokesperson did not respond to emails seeking comment at the time of going to press.