The 89-partner firm, which was founded by Mr Shroff’s grand-father, is still run by the Shroff family and is seen as part of the blue blood circle of leading Indian corporate firms. Mr Shroff predicts the arrival of foreign firms ‘towards the end of this decade’. The question is then whether family firms like his will be able to adapt to compete against international competitors. He says: ‘The quality of legal thinking here . . . I think it’s second to none but a lot of our traditions go back to the English bar . . . and while the English bar has moved on a lot, we are still stuck in regulations which are more than 100 years old.’ Source: Legally India
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