Building the Largest Law Firm in India
Mr Cyril Shroff is a managing partner of Amarchand & Mangaldas & Suresh A Shroff & Co - India's largest and foremost law firm, with approximately 450 lawyers. Amarchand Mangaldas has offices at Mumbai, New Delhi, Bangalore, Kolkata and Hyderabad. With over 25 years of experience in a range of areas, including corporate laws, securities markets, banking, infrastructure and others, Mr Shroff is regarded and has been consistently rated as India's top corporate, banking and project finance lawyer by several international surveys including those conducted by International Financial Law Review (IFLR), Euromoney, Chambers Global, Asia Legal 500, Asia Law and others.
Mr Shroff has authored several publications on legal topics. He is a visiting lecturer of securities law at the Government Law College. He is a member of the advisory board of the Centre on Lawyers and the Professional Services Industry, established by the Harvard Law School, and a member of the advisory board of the National Institute of Securities Markets (NISM).
Mr Shroff is a member of the executive council of the legal practice division (LPD) of the International Bar Association (IBA) and the advisory board of the Asia-Pacific forum of the IBA. He is a member of the Media Legal Defence Initiative (MLDI) international advisory board. He is also a member of the primary markets advisory committee of the Securities and Exchange Board of India. Mr Shroff is also part of various committees of the Confederation of Indian Industry (CII) - the national council on corporate governance, the national committee on commodities markets, the subcommittee on financial investors, the national committee on regulatory affairs and the national committee on capital markets. He has also been a member of several governmental and other regulatory committees on law reform concerning the corporate and securities market, bankruptcy laws, commercialisation of infrastructure, etc.
Mr Shroff was admitted to the Bar in 1982 after receiving his BA and LLB degrees from the Government Law College in Mumbai. He has been a solicitor at the Bombay High Court since 1983.
Question: How did you build your law firm?
Cyril Shroff: Well, I think the history of from goes back a long time, we are more than 90 years in existence and right till the early 90s, we are essentially a boutique shop we specialize in a few areas including financial services. We are very well reputed but and more punching way above our weight but we were small in terms of the size of the operation.
The main growth has occurred in the last 15 years. That’s been driven primarily by I think three factors. First and foremost the market group. The Indian economy really started globalizing and getting more liberal from the early 90s after the policies that the government pursued so that gave us firstly that large amount of transactional work on the basis of which you could build a large corporate firm. So the market opened up.
The second important factor was the availability of high quality employable law graduates from universities that were being set up using a slightly different model. The national law schools, which you have sort of based on management institutions, they changed the format in terms of legal education, so the availability of high quality law graduates allowed us to recruit and fuel this expansion
And the third factor, which is sort of more personal to us was a more entrepreneurial, more western oriented management culture. Our law firm is structured very similar to many western organizations. We have formal career tracks, practice groups, and we’ve tried to use best practice in terms of structuring our organization more institutionally.
Question: What kind of leader are you?
Cyril Shroff: I think I inspire trust and a lot of the young generation has believe in the vision that I have spelled out for them. I have been very open in terms of communicating what my vision for the firm as well as the vision for the Indian legal industry has been, a firm believer that India’s independent law firm sector has got enormous potential and there are a lot who believe in that vision and follow me.
Question: What challenges do global law firms face?
Cyril Shroff: I see basically two models of law firms in the world. One of the global law firm they go by the name of one-stop shops, which will open an office, everybody see and opportunity and will also practice the local law of that jurisdiction.
That’s a successful model as well but that’s not the only model. And the other model is those of independent law firms, national champions like ourselves which have some unique strengths as well and I think both have their strengths and weaknesses. For practicing a cutting edge work in a jurisdiction I think the latter model is infinitely superior because you have the best lawyers and the best expertise that is available.
We are seeing also the impact of the financial crisis for instance on the former model. The former model is driven largely by following financial sector clientele across the world and when the financial sector itself, the leading global banks, and investment banks they themselves come under pressure. The natural impact on this law firms is also where they feel the pain with them as well and like the banks themselves are shrinking so are the law firms. Whereas firms like ours and in different other jurisdictions they somewhat more insulated.
Question: Should foreign investors worry about intellectual property rights in India?
Cyril Shroff: There will always be some amount of nervousness not because we do not substantially recognize those rights but enforcement can be somewhat slow and patchy but for a diligent American corporation which is willing to pursue its intellectual property rights and protect them, India will still deliver the end product and a number of corporations have experienced that, for instance companies like some of the leading technology players in the world--I don’t want to name them--or even drug manufacturers, they’ve had eventually, they have been able to achieve justice.
Recorded on: April 29, 2009
Cyril Shroff describes his firm’s success and his own leadership.
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- The women on this list are founders of companies dedicated to teaching girls to code, innovators in the fields of AI, VR, and machine learning, leading tech writers and podcasters, and CEOs of companies like YouTube and Project Include.
- This list is by no means all-encompassing. There are many more influential women in tech that you should seek out and follow.
The results of this study showed depressive symptoms being highest in adolescence, declining in early adulthood and then climbing back up again into one's early 30s.
- A 2020 Michigan State University study examined the link between teen social networks and the levels of depression later in life.
- This study used data from the National Longitudinal Study of Adolescent to Adult Health, specifically targeting social network data. The results showed depressive symptoms being highest in adolescence and declining in early adulthood, then climbing back up again into one's early 30s.
- There are several ways you can attempt to stay active and socially connected while battling depression, according to experts.
The study suggested that teenagers who have a smaller social circle showed higher rated of depression later on in life.
Credit: asiandelight/Shutterstock<p><a href="https://www.eurekalert.org/pub_releases/2020-09/msu-tsn093020.php" target="_blank" rel="noopener noreferrer">A 2020 Michigan State University study</a> examined the link between teen social networks and the levels of depression later in life. The results of this study suggested teens who have a larger number of friends in adolescent years may be less likely to suffer from depression later in life. These findings were especially prominent in women.</p><p>This study used data from the National Longitudinal Study of Adolescent to Adult Health, specifically targeting social network data. This data asks students to select up to 5 male and 5 female friends and indicate how often they felt depressive symptoms. </p><p>MSU Sociology Assistant Professor Molly Copeland and lead author Christina Kamis (Sociology doctoral candidate at Duke University) published the study in the Journal of Health and Social Behavior in September. </p><p><strong>Female teenagers may struggle more with depression during their teen years but show fewer depressive symptoms later in life.</strong> </p><p>For female adolescents, popularity can lead to increased depression during their teen years. However, this ultimately may lead to lasting benefits of fewer depressive symptoms later in life. "Adolescence (is) a sensitive period of early life when structural facets of social relationships can have lasting mental health consequences," Copeland wrote, adding that "compared to boys, girls face additional risks from how others view their social position in adolescence."</p><p>Throughout this study, men showed no association between popularity and depressive symptoms, however, they did show benefits from naming more friends. As for why this is, Copeland has a theory: perhaps the expectations on young girls (compared to young boys) as well as the roles that lead to popularity can create a kind of stress and strain felt more prominently by girls than boys. </p><p>While this does create more difficult teen years for young girls, the stress and strain may lead to giving these girls a psychological skillset that benefits them later in life, allowing them to deal with stressful situations more easily.</p><p>The study also suggested that teenagers who have a smaller social circle showed higher rates of depression later on in life. </p><p><strong>Results from both men and women followed a U-shaped trajectory of depressive symptoms.</strong></p><p>The results showed depressive symptoms being highest in adolescence and declining in early adulthood, then climbing back up again into one's early 30s. This was particularly more noticeable in women, who showed a steeper decline in symptoms between the ages of 18-26, followed by a more rapid increase in symptoms in their early 30s. </p>
How to stay social while battling depression<img type="lazy-image" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDQ1MjA3MC9vcmlnaW4uanBnIiwiZXhwaXJlc19hdCI6MTYxNDMyNDY1N30.e1ULIJ5QYXh4H1SGUPUTJqYBCnX2XWp6InjPRr-2Bdw/img.jpg?width=1245&coordinates=0%2C22%2C0%2C22&height=700" id="832fd" class="rm-shortcode" data-rm-shortcode-id="b360bb24fb8d6025680bfffb52fd5982" data-rm-shortcode-name="rebelmouse-image" alt="depression support group illustration" />
Attending support groups, planning activities with family or even just a weekly phone call to a friend can help alleviate depression.
Credit: Mascha Tace/Shutterstock<p>Although maintaining relationships can help you cope, it can also be one of the most difficult things to do when you're experiencing depression.</p><p>As Dr. Jennifer L. Payne (an assistant professor/co-director of the Women's Mood Disorders Center at Johns Hopkins Hospital in Baltimore) <a href="https://www.everydayhealth.com/hs/major-depression/staying-socially-active-with-depression/" target="_blank" rel="noopener noreferrer">tells Everyday Health</a>: "One of the common symptoms of depression is social isolation." </p><p>Payne goes on to explain that you can "soak up some energy" by simply being around other people, moving around, and staying active.</p><p><strong>Creating a daily schedule and planning activities ensures action. </strong></p><p>While it may be easy to turn down last-minute plans, it's more difficult to cancel plans you've already committed to with friends and family. While it's important not to overwhelm yourself with a packed schedule, creating a minimal daily schedule that involves seeing friends and family or doing activities that you've previously enjoyed can ensure you stay active and often makes you feel more accomplished at the end of each day. </p><p><strong>Support groups and social networking with people who understand. </strong></p><p>While depression can very easily make you feel isolated and alone, surrounding yourself with others who may be struggling with depression as well can help in multiple ways. You will have peer support from people who relate to how you're feeling plus the added benefit of being around people, which can raise your spirits. </p><p><strong>Keeping a journal (and setting goals) can help you feel accomplished. </strong></p><p>Keep a thought journal and detail certain daily or weekly goals (such as a plan to call a friend on Monday or to visit your local coffee shop for a change of scenery on Thursday). These small, achievable goals not only get you out of the house and/or interacting with others, but they also provide a sense of accomplishment and satisfaction once they are complete. </p><p><strong>Random acts of kindness, such as volunteering, will make you feel good. </strong></p><p><a href="https://bigthink.com/mind-brain/kindness-benefits-james-doty?utm_term=Autofeed&utm_medium=Social&utm_source=Twitter#Echobox=1596517476" target="_self">Being kind is good for your health</a> in many different ways. Doing something nice for others can boost your serotonin levels. Serotonin is a neurotransmitter that is responsible for feelings of satisfaction and well-being. Similar to exercise, kindness, and altruism can also release endorphins, creating a <a href="https://www.quietrev.com/6-science-backed-ways-being-kind-is-good-for-your-health/#:~:text=Kindness%20releases%20feel%2Dgood%20hormones&text=Doing%20nice%20things%20for%20others,as%20a%20%E2%80%9Chelper's%20high.%E2%80%9D" target="_blank" rel="noopener noreferrer">temporary sense of euphoria</a> that can help combat depressive symptoms. </p>
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90,000 years ago, a young girl lived in a cave in the Altai mountains in southern Siberia. Her life was short; she died in her early teens, but she stands at a unique point in human evolution. She is the first known hybrid of two different kinds of ancient humans: the Neanderthals and the Denisovans.
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