Less than one month ago a financial daily caused a stir in the cozy Delhi capital markets world after reporting that the selection of law firms in the disinvestment of Coal India Limited and Engineers India Limited (EIL) had been discriminatory, alleging political nepotism. But as so often there is more than meets the eye.

Luthra & Luthra, AZB & Partners and S&R Associates have pushed up the IPO league tables this October, as J Sagar Associates (JSA) and capital markets specialist firm JurisPrudent Consulting Partners make their entry into the rankings.