Ashwath Rau, Partner at Law Firm CAM, to Join AZB & Partners
Mumbai: Ashwath Rau, partner at law firm Cyril Amarchand Mangaldas (CAM), has put in his papers to join rival AZB & Partners, led by Zia Mody. Rau will join AZB’s M&A and corporate practice arm by the end of the year after he completes a six-month gardening leave at CAM, people in the know said.
CAM intends to enforce the sixmonth gardening leave along with restrictions on soliciting staff and clients, the people cited said. At CAM, Rau, one of the firm's top lawyers, was advising in the areas of M&A and private equity and a few private sector banks Emails seeking comments from CAM and AZB & Partners did not elicit any response until press time Thursday. Rau did not respond to phone calls and text messages. Rau's switch to AZB was first reported by the website Legally India. Rau is an alumnus of National Law School of India, University of Bangalore from the 1999 batch. His team at CAM included Ganesh Rao, Shishir V, Anu Tiwari, Dhruv Singhal and Jaya Singhania. Recently, Tiwari and Singhal were promoted to the position of partners. Mumbai’s legal market has seen large-scale employee movements after the split of Amarchand Mangaldas & Suresh A Shroff & Co into two firms headed by brothers Shardul and Cyril Shroff in April last year.
In the past 12 months, many senior lawyers have changed jobs. Notably, Akshay Chudasama of Jay Sagar Associates (JSA), another law firm, and Shuva Mandal of AZB & Partners joined Shardul Amarchand Mangaldas, Shardul’s firm. Abhijit Joshi, former chief executive and senior partner of AZB, left the firm to start his own venture, Veritas Legal. Last month, Somasekhar Sundaresan, partner and head of capital market practice at JSA resigned to start an independent counsel practice. A formal one year no-poaching agreement between the firms headed by Cyril and Shardul came to an end on March 31 this year. Rau’s shifting also marks an end to an informal no-poaching agreement between AZB and CAM.