Mumbai-based boutique banking and finance advisory law firm P&P Legal Advocates & Solicitors and Bengaluru-based Aditya Narayan & Co have decided to merge with Mumbai’s mid-size law firm Argus Partners.
In addition to this, the co-founder of law firm Samvad Partners, Sidharth Raja, is also joining Argus Partners. Raja would be based in Bengaluru and will also oversee the firm’s Chennai operations.
With this, Argus Partners has added close to 25 lawyers, taking its bench strength to around 55. Argus Partners has currently presence in Delhi, Mumbai, Bengaluru, Kolkata, and Chennai.
“This is a milestone for the firm as this merger (with P&P Legal) supplements our banking & finance practice which has been primarily representing private sector banks and financial institutions,†said Krishnava Dutt, Managing Partner of Argus Partners. “Aditya’s entrepreneurial acumen coupled with exceptional technical skills creates a special advantage for the firm in this new phase. Megha’s (a partner at Aditya Narayan) indirect tax experience compliments the firm’s indirect tax practice. Siddharth, Aditya and Megha share our core values and I am extremely excited to have them on board,†added Dutt.
Sidharth Raja is joining Argus Partners as Senior Partner and National Executive Director.
Prakash Panjabi and Pratish Panjabi and their P&P Legal, now part of Argus Partners as equity partners, will sit out of Delhi while, Aditya Narayan and Megha Malhotra Narayan, partners at Aditya Narayan & Co are joining as an equity and salaried partner, respectively, in Bengaluru.
“The move marks a well-thought thorough shift towards both a niche practice area as well as a continuing national and cross-border presence; a tremendous strategic advantage,†said Siddharth Raja, in a release.
The legal sector is witnessing consolidations among firms where many senior partners are choosing to join another firm along with their teams rather than starting on their own. There will be suddenly an amalgamation of many work cultures within one law firm and the founders and senior partners will have to stitch the merger in a way that can take care of this.
“Like minded boutique firms in India are open to the idea of consolidating but managing partners will have to divest and share control with their counterparts; managing as was understood in the traditional family run firm set up will have to change for such synergies to work,†said Dalfi Vakharia, Vice President at Options Group, a leading global executive search firm. “They strive to attain institutional structures and move away from the traditional hierarchies. This can be achieved when synergy is attained with the right partner. The focus should be on consolidating and investing in infrastructure, technology, financial capital and training.â€
Recently, HSA Advocates poached two teams from Paras Kuhad Associates and also Ramya Hariharan, former co-founder of Argus Partners had joined Hemant Sahai founded HSA Advocates to head its Kolkata operation.
In April 2016, another Delhi-based law firm Alpha Partners had decided to merge with Seth Dua & Associates (SDA). As per the understanding between the firms, Akshat Pande, founder of Alpha Partners was named head of SDA’s Noida office post-merger.
Last year, sometime in February, boutique intellectual property (IP) firms Lall & Sethi and Singh & Singh decided to merge the practices to form the nine-partner, 27-lawyer firm Singh & Singh Lall & Sethi.
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