Amarchand to split in two as brothers fall out
Amarchand & Mangaldas, one of the top Indian law practices, is to split in April as mediation failed to resolve the differences between the two brothers who own the firm, Shardul and Cyril Shroff.
The split goes back to the death of the brothers' mother last year. She left the whole of her share in the practice to the older brother, Shardul. This gave him a bigger share in the firm than Cyril. The firm will now be split equally between the two of them who are already used to operating quite independently of one another. However, they will both have the freedom to operate in each other's areas.
Shardul controls the Delhi office and those in Gurgaon, Kolkata and Ahmedabad. Cyril runs Mumbai and controls Bengaluru, Hyderabad and Chennai. A lawyer at another Mumbai firm said: 'With this, we may see some consolidation after the split, as both new firms would like to jump-start their expansion.' Source: Economic Times