Exclusive: Hariani & Co Mumbai partner Siddharth Kanakia, who was heading the firm’s real estate practice for the last five years, resigned in December 2012 to join real estate developer Sheth Builders as its vice president legal in Mumbai.

Khaitan & Co and Kanga & Co have assisted on the sale of more than 74,000 square metres of industrial real estate in Andheri East, Mumbai from Borosil Glass Works to Neepa Real Estate Private Limited for Rs 830 crore ($178m).

Khaitan & Co has hired ex-bureaucrat and lawyer Dr PK Agrawal as partner to head its real estate practice in Delhi.

Khaitan & Co and Wadhwa Group’s in-house counsel have closed Mumbai’s largest land deal of the year, in the 18.18-acre land purchase in the eastern suburbs of Mumbai from Hindustan Composites (HCL) for Rs 571 crore ($125m).

FoxMandal Little Delhi’s senior real estate partner Saroj Jha has resigned. The news follows this week’s the resignation of five associates and the firm’s corporate head Vineet Aneja, with two senior associates set to join Aneja at Luthra & Luthra.

AZB & Partners has merged with Anup Shah’s Bangalore law firm, doubling AZB’s size in the city, giving it two new bases in Chennai and Hyderabad and winning a new office managing partner.

Kochhar & Co has hired an Amarchand Mangaldas designated senior associate for its corporate team in Mumbai, vowing “aggressive” expansion in the city.

India’s new government could be the springboard for the country’s legal system to scale new heights.

The recent Indian elections saw a decisive win for the Congress Party, the stock markets rally, the various economic growth forecasts adjusted and the ­rating agencies ditching their gloomy ­outlook for the country (see ‘Elections’ box).

The optimism within the business ­community here is so heartfelt and the belief in the new government so strong, it is ­reminiscent of the first month or so after Barack Obama’s election victory in the US.

Nevertheless, the data for the start of the year makes for depressing reading. India, much like the rest of the world, has suffered in every major sector (see ‘Figures’ box). The country, as ever, faces incredible challenges.

But amid those challenges, even though they come with a long wish list of demands from their old but newly emboldened government, Indian lawyers are also seeing great opportunities. In India, it is business time.