Latest news with #Vahura
Mint
2 days ago
- Business
- Mint
Why India's law firms are in a disputes hiring frenzy
Law firms in India are racing to build bigger and sharper disputes teams as business battles grow more tangled and the rules of the game keep shifting. Even within disputes teams, generalists are losing ground as law firms now prefer domain specialists. The shift is driven by a rise in commercial disputes caused by economic uncertainty, new regulations and growing cross-border deals. According to Lee Ignatius, partner and head of private practice search at legal consulting firm Vahura, the disputes practice in Indian law firms has seen a 30% growth in hiring in the past three years, driven largely by a sharp increase at senior levels. 'While tax and IBC (Insolvency and Bankruptcy Code) once led growth, the current surge in complex economic activity and shifting regulatory frameworks has firmly positioned disputes as a key area of law firm expansion," Ignatius said. Nishant Parikh, partner and member of the management committee for law firm Trilegal, said apart from litigation, businesses are also increasingly seeking alternative mechanisms such as arbitration and mediation, 'to resolve disputes while preserving commercial relationships". Also read | So many law graduates, so few top jobs: What's holding them back? Mint has learnt that Trilegal's disputes team has grown by more than 30% year-on-year over the past four years (2021-2025). This month, Trilegal brought in Amit Jajoo and Sushmita Gandhi from CMS IndusLaw as partners under their equity-partnership model. Today, Trilegal's disputes team has 160-plus lawyers and 25 partners. Full-service law firm JSA Advocates & Solicitors, which reported a 39% gross increase in attorney count in its disputes practice team in FY25 compared to FY24, highlighted that one of the main reasons behind the expansion is the uptick in the economy. A full-service law firm handles all types of legal work, from disputes to corporate matters, under one roof. Economy and litigation 'As the economy grows, the number of businesses grows, and businesses will litigate to enforce their legitimate claims," said Amar Gupta, joint managing partner for the law firm, pointing to a large volume of litigation originating from the infrastructure sector. 'Given the government's thrust in this sector, the trend will likely continue." According to a report by the National Legal Services Authority–quoting data from April 2022 to March 2023–India's mediation landscape is growing steadily, with around 460 alternative dispute resolution (ADR) centres nationwide, 425 of which are fully functional. The sector is supported by over 3,950 mediators, 12,640 lawyer-mediators and 8,672 other ADR professionals. Also read | Bar Council notifies rules allowing foreign law firms limited practice in India Mediation settlements rose from 92,446 cases in 2022-23 to 99,033 in 2023-24—a 7.14% increase. Additionally, 48,480 cases were resolved in the first half of 2024, underscoring the increasing preference for mediation. Who else is bulking up Meanwhile, Khaitan & Co. has created dedicated verticals in dispute resolution for international arbitration, construction law, emerging technology, securities, electricity and environment matters. 'As legal disputes become more complex and cross-border in nature, the demand for specialized knowledge and strategic thinking has grown significantly," said Sanjeev Kapoor, senior partner for dispute resolution at Khaitan & Co. 'There is now greater recognition of lawyers with specific domain expertise within dispute resolution." Another full service law firm, Chandhiok & Mahajan, Advocates and Solicitors, which had just five dispute attorneys earlier, now has 20. 'We are seeing an increase in regulatory, tax and licensing actions as well as real estate, mining and infrastructure-related disputes reflecting new laws by the Union and the states, and more stringent enforcement," said Rahul Narayan, partner and head of dispute resolution practice at Chandhiok & Mahajan. Also read | Court battles are defining boundaries for influencers Then, Singhania & Co. doubled its team size from 15 to 30 over the past three years. 'On the legal side, faster court timelines, the push for institutional arbitration and a more streamlined approach by tribunals and regulators have improved trust in the system. It's no longer just about filing a case—it's about getting it resolved efficiently and professionally. That's where good dispute lawyers are really stepping in," said Rohit Jain, managing partner at Singhania & Co. In November 2024, Singhania & Co. hired Vipul Wadhwa as a partner in its dispute resolution practice. He brought along a senior associate and the firm has since added three more associates to the team, including one at a senior level. Law firms, like consulting practices, pluck partners from rivals who then come in with their teams. Typically, the team size along with these partners can be upwards of 10-15 lawyers.
Mint
4 days ago
- Business
- Mint
India's legal sector is booming—so why are 98% of law grads left out from the top jobs?
The majority of fresh law graduates in India are missing out on the country's booming and higher-paying corporate legal market for reasons afflicting students of other professional courses as well—a lack of job readiness. Fewer than 2% of India's fresh law graduates secure positions at the country's top corporate law firms, according to data shared by legal recruitment firm Vahura with Mint. Nearly 100,000 law students graduate annually, and about 69,000 clear the All India Bar Exam, which makes them eligible to practice law in any court across the country. But out of more than 1,700 law schools in the country, only graduates from the top 25-30 colleges consistently land jobs in corporate or mid-tier law firms. Leading law firms such as Shardul Amarchand Mangaldas, Cyril Amarchand Mangaldas, and Khaitan & Co. collectively hire only 400-600 fresh graduates annually, mostly for specialized practices like corporate law, private equity, banking, dispute resolution, infrastructure, tax, and regulatory law. 'Many graduates struggle to enter the organized legal workforce, often starting in local litigation or informal setups. It's not that mid-tier firms offer fewer opportunities, but there's a sharp drop in readiness and access beyond top colleges," said Akanksha Antil, recruiter and mentor for lawyers and law students at Vahura. While just 2% of law school graduates make it to leading corporate firms, another 15-20% manage to find work in boutique and second-tier firms, contributing to the broader corporate legal landscape. Most of the other fresh graduates begin their careers in small litigation practices or depend on personal networks, missing out on the organized corporate legal sector. Also read | Big Four feel the heat as promotions drop, clients tighten purse strings This is comparable to the engineering sector, where, despite producing a large talent pool of around 1.5 million graduates annually, only about 10% secure jobs due to a persistent skills gap, according to a recent report by Unstop. The struggle to find enough suitable and job-ready law graduates comes at a time when India's legal sector is growing rapidly. Rising compliance demands, digital transformation, and increased deal activity drove India Inc's legal expenses past the ₹60,000-crore mark in 2024-25, up 15-18% from the year before, according to Vahura data shared with Mint earlier in March. This surge in demand for legal services has sparked intense competition among law firms seeking to strengthen their teams, with about 60% of their hiring needs met through lateral recruitment from other companies and the remaining 40% met by campus hiring, according to Vahura. 'We have seen steady and encouraging growth in our hiring of fresh graduates over the past few years. This year, we onboarded 43 freshers, marking a 79% increase from last year," said Suman Rudra, chief human resources officer at JSA Advocates & Solicitors. 'On average, we hire between 60 to 100 fresh graduates each year. The fresher intake has increased due to expansion across our practice areas and firm-wide growth," added Amar Sinhji, executive director, human resources, at Khaitan & Co. Anupriya Anand, head, human resources, at Cyril Amarchand Mangaldas, said the firm recruits 150-200 graduates annually, with numbers steadily increasing in recent years. Also read | Startup hiring cools as AI, money worries sweep businesses Casting a wider net India's premier National Law Universities (NLUs) remain the primary talent pipelines for law firms. These include the National Academy of Legal Studies and Research (NALSAR) in Hyderabad, Gujarat National Law University (GNLU) in Gandhinagar, National Law Institute University (NLIU) in Bhopal, West Bengal National University of Juridical Sciences (NUJS) in Kolkata, and O.P. Jindal Global University in Sonipat. But law firms are now also recruiting from a wider pool of 20-25 top colleges. 'A top-ranked student from a lesser-known law school may now get preference over a mid-ranked student from a top law school, especially if the candidate demonstrates clarity of interest, relevant internships, and better retention potential," Antil from Vahura explained. A spokesperson for Gujarat National Law University told Mint that more than 100 students secure placements annually through the school's internship and placement division, with an average placement rate of 80-85% the past three years. More than half of the recruiting firms at GNLU are regular visitors, offering roles across corporate law, dispute resolution, finance, and regulatory advisory. India's top legal firms also recruit graduates through pre-placement offers extended during internships. Once hired, the firms emphasize soft skills and cultural fit—considered as important as academic credentials. Compensation packages for freshers range from ₹14 lakh to ₹22.5 lakhper annum, typically including base salary, performance bonuses, and other benefits. Also read | Jumping jobs? A Supreme Court judgement just made it tough, especially for freshers The readiness gap The challenges faced by fresh law school graduates mirror broader issues in India's job market. A recent report by hiring platform Unstop found that 83% of engineering and 50% of MBA graduates lacked job or internship offers last year, with unpaid internships rising sharply. Data from TeamLease show that although India produces 1.5 million engineering graduates annually, only 60% are employable and just 45% meet industry standards. Law firms, too, see significant skill gaps among fresh law graduates, particularly in technological proficiency, negotiation, analytical thinking, and persuasive advocacy. 'A common challenge is the gap between academic learning and the fast-paced, client-driven nature of law firm practice," said Parul Gupta, chief human resources officer at Trilegal. 'Fresh graduates often need time to polish their communication skills—especially in articulating complex legal concepts clearly—and develop client-focused thinking to understand priorities and deliver practical solutions." Anupriya Anand of Cyril Amarchand Mangaldas added that technological proficiency and negotiation skills are common deficiencies among fresh graduates, especially in M&A (mergers and acquisitions) and regulatory law. Also read | Soon, your job contract will have a tariff clause 'To address these gaps, law schools like BITS Law School offer practical training in client counseling, mooting, legal drafting, and AI applications, through initiatives such as RAW (Readiness at Workplace), CIA (Counsels in Action), and EIA (Entrepreneurs in Action)," said Ashish Bhardwaj, founding dean, BITS Law School. Gujarat National Law University supports aspiring litigators through its GNLU Litigation Assistance Scholarship Scheme (GLASS), which provides financial aid to help overcome early career challenges in litigation. According to the National Statistical Office's first monthly labour force survey released in May, India's unemployment rate stood at 5.1% in April, with urban unemployment at 6.5% and nearly 14% of youth unable to find work. Also read | Rising demand, escalating costs: staffing firms feel the heat
Mint
23-05-2025
- Business
- Mint
India's latest legal reform won't open the floodgates for foreign law firms
Foreign law firms are unlikely to rush in to set up desks in India just yet afterthe regulatoropened the legal profession to overseas players, but with strict caveats. The Bar Council of India (BCI) last week allowed foreign firms and lawyers to practice non-litigious foreign law, international law, and participate in international arbitration, provided reciprocity is guaranteed. The catch: they still can't appear before Indian courts, draft pleadings, or engage in property conveyancing. While overseas firms can apply to open offices, they must register with the BCI. As a result, global law firms say they are open to mergers and acquisitions and see the latest move as apossible way ofattracting talent in India. The conditions will, however, prevent many from taking an immediate plunge. Also read: Bar Council notifies rules allowing foreign law firms limited practice in India 'We would be continuing to operate under the informal arrangements we have in place," saidDhruv Chhatralia, BEMpartnerat UK-based firm DWFLaw LLP, in an emailed response to Mint. 'Providing details of matters they are working on to the BCImay put overseas lawyers in a difficult position when it comes to confidentiality and data protection." FIFO hurdle Chhatralia was referring to the BCI's decision to carve out a narrowly defined advisory-only space with a tightly regulated regime. It has directed foreign lawyers to disclose each 'fly in, fly out' or FIFO visit to India, specifying the duration, purpose and the nature of legal work every time they visit the country. While Chhatralia said that BCI's decision will benefit clients looking for advisers to seamlessly manage complex cross-border matters, many legal companies are still studying the fine print. 'Too early to say," said Mini Menon vandePol,Baker McKenzie's Global India Practice chair. 'But we are interested in attracting the best talent to support our clients, so will consider all options." US-based Baker McKenzie, with a focus on international arbitration, will continue to rely on existing models. 'If a dispute is required to be litigated in court, we will work with Indian counsel in the manner required by the BCI rules," said Ashish Chugh, a principal in Baker McKenzie Wong & Leow's Dispute Resolution Practice in Singapore. So far, interest has centered more on interpreting the rules than rushing in. Legal consulting firm Vahura has received a wave of queries, mostly about the FIFO model, which allows foreign lawyers to operate in India for up to 60 days in a 12-month period. Also read: Sebi's crackdown on Synoptics signals rising scrutiny of IPO gatekeepers 'The majority of queries are in relation to how the number of days is calculated and whether it applies to business development or non-work travel undertaken by lawyers in their personal capacity," said Ritvik Lukose, Vahura's co-founder and chief executive officer. Client confidentiality worry The BCI's requirement to disclose client and matter details ahead of visits has also raised red flags. 'There is a serious concern around the information that has to be filled in forms... that would result in the firm being in violation of securities law-related regulations and home country professional ethics rules," said Lukose. Lukose, however, anticipates increased demand for dual-qualified professionals and rising pay scales across top law firms. Such lawyers who are licensed to practice in two jurisdictions could see demand rise for their cross-border legal expertise and ability to navigate complex international matters. 'This will result in a significant increase in remuneration levels at the premium law firms... including in-house legal teams," Lukose said. Over the last couple of years, domestic law firms have guzzled talent, with top Indian law firms poaching senior partners along with their teams. Russell Strong of UK-based law firm Greenwoods Legal LLP said the BCI seems to trying to strike a balance to 'promote trade" and 'safeguard the interest of domestic legal professionals". However, some of the India-headquartered law firms are skeptical about the reforms. 'Even with BCI's green light, it is unlikely for most foreign law firms to set up shop overnight," said Shweta Sahu, leader atIndian firmNishith Desai Associates. Sahu expects collaboration as the dominant model. Also read: Sebi plans regulatory breather for FPIs investing in sovereign bonds How legal services are priced and charged to clients or the billing model is another area that will come under the spotlight. And then there are costs incurred to set up shop in India. 'The BCI amendment permitting foreign law firms to set up Indian presence for advisory purposes does not mean a change in macroeconomic consideration and will make India attractive all of a sudden,"Akash Karmakar, partner at Indian firmPanag & Babu. 'The other considerations include cost sensitivities of the Indian market and limitations in being able to appear before courts, etc."
