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Cyril Amarchand Mangaldas, one of the country’s largest full-service law firms, is understood to have poached the entire capital market team of rival IndusLaw that includes more than 50 lawyers.
The capital market team at IndusLaw is headed by Manan Lahoty, who has been with the firm for over four years. Lahoty was earlier a Partner with Luthra & Luthra Law Offices for over 10 years.
An email sent to CAM did not get a response. A member of the capital market team at IndusLaw, however, confirmed the development.
The move comes amid a frenzy of activity in the capital market space by way of initial public offerings, qualified institutional placements and block deals.
The exodus follows a similar move seen in recent weeks that saw Trilegal’s National Head of the Competition law practice Nisha Kaur Uberoi join law firm J Sagar Associates (JSA) along with her team of 25 lawyers.
Gaurav Dani and Suneeth Katarki, Founding Partners, IndusLaw, said, “In the industry, all major firms including IndusLaw are fighting for talent and we are having to deal with it like other firms. We look forward to maintaining a cordial relationship and collaborating in the future.”
In 2019, Lahoty, along with his team of four partners and 12 associates were acquired by IndusLaw. With the firm’s growth and expansion, the team grew to nine partners and 45 associates.
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