The Indian Legal Fraternity, especially the Law Firms segment has beengoing through waves and horizons in terms of the structural as well asbusiness paradigms. Amongst several undercurrents, is a rush of theaspiring law firms who have definitely managed to create an attentionamongst the already established one. Lex Witness speaks to one of themany such successful establishers, S. K. Singhi, Founder, S. K. Singhi&Co., Advocates a firm based out of Kolkata, India.
The most intuiting aspect of “Law” is itsdynamics and radicalness. It keeps onchanging from time to time, from situationto situation and it also gives an individualperson an opportunity to update himselfand learn something new everyday. Thoughthe substantive portion of Law is static, butits application in every matter is different.This is the most exciting thing about law.Before coming into the profession I hadexposure of corporate world and dealt withvaried matters. Each matter had a certainspecial degree of complexity whichrequired aggressive strategy and thinkingout of the box. This made me consider Lawas a profession.
I have a Commerce background withfinance and started my career as anexecutive- finance in a corporate in 1984.My mind was set to become a CompanySecretary and be at top of and amongst theboard members as one of the policydecision makers and persuaded the saidline. I was successful in achieving the saidvision and became qualified CompanySecretary and became known amongst themerchant bankers and the corporate World.As a Company Secretary I was entrusted tolook after the legal matters and was askedto provide litigation support to the groupeven without having a law degree. InitiallyI was reluctant to do any legal work as Iconsidered legal not to be my cup of teabut the responsibility to provide litigationsupport to the group made me go deep intothe legal arena to provide results and thatwas the turning point of my careerswitching from Company Secretary to Legaladvisory and support. In that length andspirit I went on to become a Law graduate.I owe my law degree to my ex-boss andchairman of the group where I was workingand whom I consider as my mentor andidol.
As a general counsel and head of the legaldepartment, there were limitations inimplementation of legal strategies andprovide litigation support. This inspired meto set up a full service law firm and to havecomplete freedom to implement thestrategies that may give best results to theprospective clients and that’s how M/s S.K.Singhi& Co. Advocates, the law firm cameinto existence.
I strongly believe in a family run law firmsetup compared to any other setup. In afamily run setup one has the authority toimplement its plan of action without anyconflict or difference of opinions amongstthe professionals/ associates. In a familyrun setup the decisions can be taken abullet speed and can be implemented in afraction of second,which are essentials inany legal strategy or any litigation support.This helps clients take their businessdecisions in no time. The current businessenvironment globally demands quickdecision-making and implementation tocompete with National and Internationalpeers. In a family run setup it is easier toachieve the same at its own will and speed.The economy and cost effectiveness isanother important aspect that goes infavour of family run setup.
The expansion and sustainability of anyprofession depends upon healthycompetition and constant review of thepresent setup to walk along the presentscenario. Today’s era is of globalization andopening of the world economies to meetthe challenges in the International market.Service sector in my view should be thefirst to adopt the changes. Legalprofessionals constantly requires learningand enriching their knowledge in theexpanding globalization and technologicalchanges. Thus, I feel the entry of foreignlaw firms will enhance the knowledge ofthe legal professionals in India if taken inright spirit and healthy competition. Everysovereign state has its own limitations andresponsibilities towards its citizens andconstitution. Within the said limitations Ifeel the phased out entry of foreign lawfirms in India will only add value, enhancethe recognition and reputations and willprovide level playing field internationallyto the advocates and law firms in India. Iam strongly in favour of phased out entryof foreign law firms.
The firm started out in 2008 with its basein Kolkata and since then there is noturning back. Over a period of 6 years, ithas ventured into various fields andexpanded its operations not only in eastIndia but also in West and Northern partsand even abroad. With the gradualdevelopment there has been developmenton the personal front as far as our team isconcerned. It now provides advisory onvarious fronts under one roof. The clientelebase of the firm is also diversified startingfrom individuals to corporates requiringlegal advisory both at personal andprofessional level. Hence we have seen anoverall growth of the organization whereinnot only the activities have grown but theteam as a whole has also grown.
Legal profession is a serious and nobleprofession. Clients look up to theiradvocates and lawyers as their savior. Thefaith and confidence that emerges on theface of the client after seeking advice andconsultation describes the quality of aLawyer. My advice to the young generationlawyer is to work hard, be honest towardstheir profession, loyal to their client, workin a team, focus on achieving the visionand always aspire to become good humanbeing. That is the key to every success.
Initially we started with three advocates asa regional law firm at Kolkata with lessthan 10 clients. Today we have 20+advocates in our firm, with two offices inKolkata and 100+ clientele base. We haveplans to have our presence in Delhi,Mumbai and Singapore in the next 12months. We have a vision to be amongstthe top 10 law firms of the country in the near future.
Strength – Experience and Team Members
Weakness – Inability to sit idle
Most Prized Possession – My Family
Your HumbleAdvice – Don’t Compromise with YourProfessional Ethics
Favourite Food – Vegetarian Jain Food
Favourite Sport – Cricket
www.grandmasters.in | 8 Years & Counting
www.rcls.in | 8 Years & Counting
www.itlegalsummit.com | 8 Years & Counting
www.bfls.in | 8 Years & Counting
www.maels.in | 8 Years & Counting
www.plcs.co.in | 8 Years & Counting
Copyright © 2020 Lex Witness - India's 1st Magazine on Legal & Corporate Affairs Rights of Admission Reserved
