India’s largest law firm Amarchand & Mangaldas will split in April into two new firms following the resolution of a court dispute between the two managing partners.
Shardul and Cyril Shroff’s disagreement emerged following the passing last year of family member and shareholder Bharti Shroff and the subsequent distribution of shares in the firm in her will. Indian trade publication The Economic Times reported that the Bombay High Court decided that a split was the best amicable solution to end the dispute.
The 700-lawyer-strong firm will be split evenly between the brothers. They will also gain the right to set up offices in each other’s territories. Shardul manages the Delhi office and also runs the Gurgaon, Ahmedabad and Kolkata offices. Cyril oversees the Mumbai office and controls the Bangalore, Chennai and Hyderabad offices.
Media reports cited a source close to the Mumbai outfit that Cyril Shroff’s new firm will be called Cyril Amarchand Mangaldas.