In a dramatic turn of events, the boutique arbitration-focused law firm Advani & Co. has announced its merger with the Mumbai-headquartered full-service law firm Bharucha & Partners. This merger marks the end of an era for Advani & Co., which has experienced a series of mergers, demergers, and key departures over the years, ultimately leading to the firm’s closure.
A History of Mergers and Departures
Advani & Co. has a history of strategic mergers aimed at expanding its footprint in the legal industry. The firm first made headlines in 2011 when it merged with the Delhi-based law firm Accendo Law Partners. The merger brought on board partners Apar Gupta, Shashank Garg, and Animesh Sinha, who were expected to strengthen Advani & Co.’s presence in Delhi.
However, the partnership quickly unraveled. Within nine months, Animesh Sinha left to start his independent practice, followed by Shashank Garg in 2014 and Apar Gupta in 2015. Garg briefly returned to Advani & Co. in 2015 after a short stint at Suri & Co., only to leave again in 2021. Garg’s departure in 2014 was significant, as he cited the limited growth opportunities in Advani & Co.’s small Delhi office.
“Delhi office is small and for some time it has remained at the same size, so it was important for me to get into something that has more growth opportunities,” Garg told Legally India at that time.
The Short-Lived Merger with Nehru & Co.
In 2014, Advani & Co. merged with Pune-based Nehru & Co., forming Advani Nehru & Co. This merger, however, was short-lived, lasting only 14 months. By December 2014, the two firms had decided to part ways.
According to a report by Legally India, Nehru & Co. founder Mr. Nehru expressed frustration over the lack of support from Advani & Co. “We needed support on an ongoing basis. We were [bringing] all the clients and effectively the entire load of things was on us. This was not agreed. There has to be a symbiotic relationship,” Nehru stated.
The firms amicably demerged, with Advani focusing on arbitration and Nehru on corporate work.
Leadership Changes and Departures
The Delhi office of Advani & Co. saw significant leadership changes over the years. In 2021, Shashank Garg, who had been heading the office, left to start his independent practice. The firm then promoted its Mumbai office Senior Associate, Ms. Kanika Arora, to take charge of the Delhi office. Arora had a brief but notable tenure at Advani & Co., having rejoined the firm as a Senior Associate after a short stint at AZB & Partners. She was promoted to Partner but left after two years to join MRP Advisory as a Partner. In September 2021, Advani & Co. promoted Tariq Khan to Partner. However, Khan resigned just three months later to join the newly established International Arbitration and Mediation Centre (IAMC) in Hyderabad as Registrar.
The Final Merger and Closure
After years of ups and downs, Advani & Co. has now merged with Bharucha & Partners. Hiroo Advani, Managing Partner of Advani & Co., along with his team of 10 lawyers, has joined Bharucha & Partners. This move marks the end of Advani & Co.’s independent operations, as both the Delhi and Mumbai offices will be shut down. This merger brings to a close the legacy of a firm that was founded in 1986, marking the end of a significant chapter in the Indian legal landscape.
The firm’s journey has been anything but smooth, characterized by a series of mergers, demergers, and key personnel changes. With the closure of its offices, the legacy of Advani & Co. will now be absorbed into the broader operations of Bharucha & Partners.
The journey of Advani & Co. serves as a powerful reminder for managing partners of law firms about the critical importance of strategic alignment, leadership stability, and the preservation of firm legacy. Mergers and partnerships should be approached with careful consideration of long-term goals and mutual support. Leadership transitions and growth opportunities must be managed thoughtfully to retain top talent.
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