As Head of Retail Litigation, I am responsible for the retail legal responsibilities of all the seven subsidiaries of L&T Finance Holdings. Primarily L&T Finance and L&T Housing have the bulk of retail litigations. The book size of L&T Finance Holdings is around INR 180,000 Crores. I look after the entire retail litigation across India, both proactive litigation as well as litigation adverse to the companies. In this role, I have to choose efficient law firms and legal counsel to represent the organization. My key role is also preparing effective legal policies for the companies under my mandate and implementing the same effect across all locations in India, with an objective of faster recovery of retail loans, maximizing returns and minimizing NPAs. This is challenging as the policies I formulate sitting in Mumbai has to be implemented with same efficacy throughout India, say for example from Kashmir to Coimbatore, Gujarat to Assam. At the same time, I have to bear in mind that the policies have to acceptable to all my stakeholders including business/collection teams and the top management as well as my own legal team.
I have had excellent opportunities to explore the best of both worlds – as an inhouse counsel as well as an independent legal practitioner. My legal education was at Delhi University and after passing out, I joined J.B. Dadachandji & Co., one of India’s leading and oldest law firms in Delhi. I appeared before High Courts at Delhi, Allahabad, Lucknow Bench, Bombay and also at district courts. I became a certified patent agent during my practiceyears. Thereafter, I joined Hindustan Lever (as it then was) at the junior most law officer in their legal team. That was my first stint as an in-house counsel. From there, I had the good fortune to be associated with ICICI Bank as a Senior Manager in its Retail and Consortium/Corporate Banking and with Western Union as an Assistant Counsel for entire South Asia. In Western Union, I was in the contracts negotiation team and was also involved in the international negotiation of remittance products like Direct to Account transfer, Account Based Money Transfer, Remittance through Mobile wallets etc. In 2016, I joined Capital First Limited as the Legal Head. I had the privilege of building the legal team and the legal policy framing and implementation system for the company which was then at a nascent stage. After nearly 2 years, I passed on the baton and joined L & T as Head of Retail Litigation.
Role of a Legal Head is a very sensitive role. On majority occasions, we are the eyes, ears, and soul of the organization, we read, interpret and implement so as to achieve the aims and objectives of the company. With laws, technologies and business practices evolving over time, the role of Legal Heads is also growing manifold. A legal department of an organization is intrinsically engaged with every other team like the IT team, the HR team, the Finance team in day to day affairs and the Legal Head’s opinion is sought for every other matter affecting the policies of management of the company. For example, whether it is formulating a robust human resources policy or information technology policy or fraud
The only effective way to improve synergy is to always remainvcommunicative. Law firms must be receptive to the tests and trials of an inhouse legal team.
Prevention policy or it is a matter of formation of a committee for prevention of sexual harassment or ethics and disciplinary committee, the Legal Head is always involved. At times, we have to vet public relations communications as well which is prepared by the marking and communications team. We advise the management of changes in law and how to stay ahead in terms of compliances and risk containment. Being a team of professionals, we inspire other employees in the organization who look up to the legal teams for solutions. Business decisions depend on legal strategies these days and so In-House Counsel these days command respect both within and outside the Company.
My upbringing was across various cities in India and I have spent my schooling years in Kolkata, Jamshedpur, Patna and Chennai and thereafter my college and professional life in Delhi and Mumbai, all of which gave me exposure to the diverse culture of India and made me worldly wise to accept challenges. Especially my professional years in Delhi inculcated passion, aggression and ingenuity in me which makes it easier to handle everyday challenges undauntedly. litigations where the Board or higher echelons of management are involved or arrayed as parties, the Legal Head has a critical role so as to obviate any adversities. Legal Heads also face the pressure of achieving specific targets for maximizing Return on Revenue for the company. A cost-benefit analysis also has to be done before preparing and implementing policies. The policies are also to be reviewed periodically to ensure their effectiveness and practicability. At the micro level, the legal team of which the Legal Head is the leader has to ensure that the policies benefit the company and are being accepted and implemented by the lowest rung of employees and everyone is satisfied with the framework, including outside vendors.
The only effective way to improve synergy is to always remain communicative. Law firms must be receptive to the tests and trials of an in-house legal team. In-house counsel acts as a conduit between their organization and the law firms and if there is open communication, then mutual trust and faith are built quickly with time. That makes it easier to strategize and implement the strategies. Challenges and limitations at either end can be freely discussed and worked around. Law firms are extended arms of a company and legal battles are fought through them which have a direct impact on the organization and its stakeholders.
There are so many good legal magazines and legal websites and applications available these days. In-House Counsel must subscribe to them to keep abreast of the developments in the legal field, even if it does not directly involve their industry sector.
I would say if a lawyer is seeking to enlarge his dreams and be involved in decision making roles in the management of an organization, and at the same time is seeking a work-life balance, then an inhouse counsel is an ideal position. Post economic liberalization, the recognition and value of in-house legal counsel have increased leaps and bounds. In-house counsel holds a highly regarded position in an organization andis valued and respected by the society at large. Of course, with hierarchy comes many responsibilities and added stress, but the benefits weigh much more.
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