As a member of the Leadership Group, my role involves (i) advising the management on regulatory/ compliance issues (ii) overseeing the work of external counsel(s) (iii) leading corporate legal initiatives, anticipate issues and estimate risks strategically whilst providing effective legal advice and education to the Executive Management Team.
Some of the assignments that I have been a part of in the last 6 years of my journey with Dr. Lal PathLabs as their Company Secretary and Legal Counsel includes (i) Transition from a closely held Company to a Public Listed Company by way of an IPO (ii) Negotiating complex commercial, financing, and other transactions that cuts across legal and other areas (iii) Setting up group-wide contract management policies including implementation of standard contracts (iv) Setting up group-wide compliance processes with a specific focus on licensing (v) Negotiating and spearheading key M&A initiatives
I started my professional career in 2001 with Ballarpur Industries Limited as a Management Trainee followed by a short year long stint with Indraprastha Gas. Limited. This was followed by a 4 year stint with Hughes Software Systems (aka Aricent Technologies) and then by almost a 7.5 year stint with Infinite Computer Solutions, before I joined Dr. Lal PathLabs in 2015.
My journey so far has been fulfilling. Tenacious focus towards goals, ability to adapt to the ever-changing and evolving external environment and readiness to face challenges has kept me in good stead and helped me in my evolution as a professional in all these years.
The general impression that one used to have, if you were a Management Cadre, was that you don’t need a lawyer in the business room because of the fear that they would say no. You only need a lawyer to fix things which have gone wrong. They weren’t really considered a strategic partner because they weren’t considered a businessperson.
But with changing times, there has been an increasing switch towards the role becoming more of a business partner. People realized that you could unlock a lot of potential value by including them in your business planning and strategic discussions. They could recognize key roadblocks earlier. Lawyers are fast learners, have the capacity for business thinking, identify key roadblocks and can add value to the overall conversation. This shift in mind-set has led to a total change of the role of general counsel.
When I’m sitting with the senior management team, majority of my time and contribution is observations on the dynamic of the business and how to streamline the future rather than on technical legal issues.
With the unique proposition that the Counsels bring on the table, I believe they have successfully transitioned themselves from problem fixers to business enablers in the current environment.
One of the major challenges, I guess which every General Counsel deals with is to articulate a solution, taking care of the concerns and problems and then finding a common business-legal resolution that is acceptable to multiple stakeholders.
The fast changing regulatory environment and the need to quickly acclimatize the business and leaders without compromising on compliance and business disruptions issues is something which keeps the legal function on it toes all the time.
Technology (including AI) has become another major disruptor in the last decade or two. The algorithms used in AI may not have effective oversight and contro. This creates new legal problems and Counsels have a role to play in ensuring these are properly addressed and not become business disruptors.
Last but not the least are the threats posed by cyber and data security related risks – With cybersecurity risks on the rise and no clear cut updates on when the Data Protection Law is going to get notified, the General Counsels have a lot to ponder over.
There is no denying the fact that the eventual goal for both the in-house counsel and the external law firm are the same i.e. to serve the interest of the corporate/client to the best of their abilities The process for achieving those may be different and I believe if the Business & Context & Expectation of a particular situation is set / understood / presented in a right manner, at the inception, it will go a long way in creating a win-win situation for both the counsels and eventually benefit the Corporate/Client.
As they say change is the only constant and only those who manage change are able to survive in this competitive world. Upskilling is thus the need of the hour for in-house counsels.
To equip themselves better for the waves of change, I believe in-house counsels should spend time on developing their Technological Competence and Emotional Intelligence related skills to manage the risks caused by digital disruption
I would strongly urge young lawyers to be passionate about the profession they have chosen. Follow their dreams, work hard (party even harder) and keep learning and honing their skills as they move forward in pursuit on excellence.
Favourite Gadget – iPhone
Favourite App – Linkedin & Cricbuzz
Favourite Automobile Brand – Honda (I currently use) Jaguar (is one which I want to own)
Favourite Writing Instrument – Microsoft Surface Pro 7
Favourite Holiday Destination – USA (of the places that I have been to) New Zealand (I would want to explore one day)
Favourite Cuisine – Indian (Desi)
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