Herbert Smith Freehills Welcomes New Leadership for India Practice
In a significant development for the international legal community, Siddhartha Shukla and Dhananjaya Chak have been appointed as co-heads of the India practice at Herbert Smith Freehills (HSF) Kramer. Their ascent marks a milestone for Indian law graduates in global legal firms.
Siddhartha Shukla began his journey with HSF in 2010, directly from an Indian law school. Dhananjaya Chak followed a similar path, joining HSF as a Senior Associate in 2015. Their leadership comes as Chris Parsons, former chair of the India practice, retires, passing the baton to Alan Montgomery, who will now serve as Chair.
Impact on the Indian Legal Community
In an exclusive interview with Bar & Bench’s Pallavi Saluja, Shukla and Chak discussed the implications of their new roles for the Indian legal community. Shukla emphasized the evolving landscape of the London legal market, noting the increasing presence of talented Indian law graduates. “It’s been a fantastic journey,” Shukla remarked, highlighting the importance of mentorship and international exposure in shaping successful careers.
Chak echoed these sentiments, expressing pride in contributing to the firm’s legacy. “It’s an unbelievable feeling,” he said, acknowledging the foundation laid by predecessors like Chris Parsons. Both leaders aim to inspire and guide the next generation of Indian lawyers towards international opportunities.
Personal Significance and Future Plans
Reflecting on their personal journeys, Shukla and Chak expressed gratitude for the opportunities they received at HSF. Shukla, who joined the firm as a trainee, emphasized the importance of maintaining the firm’s commitment to India. “Taking Indian corporates global is really attractive for me personally,” he stated, underscoring the firm’s dedication to supporting Indian law students and professionals.
More Read
Chak, an energy and infrastructure finance lawyer, highlighted the sophistication of the Indian market, particularly in renewable energy financing. “It’s contributing to energy security,” he noted, identifying India’s growth as a focal point for the firm.
Collaborative Leadership Approach
Shukla and Chak emphasized a collaborative leadership style focused on client-centric solutions. “We are philosophically very similar,” Shukla said, underscoring the importance of checks and balances in their co-leadership model. Chak added, “The weight of the decision would always go towards what is the right thing for the client and the firm.”
India’s Market Opportunities and Future Directions
The co-heads identified significant growth opportunities in India’s inbound and outbound deal flows. Shukla noted a substantial increase in deal volumes, particularly in the energy and infrastructure sectors. “In 2022, the deal volume was $150 billion,” he shared, reflecting on the market’s evolution.
Chak emphasized the importance of partnerships with Indian law firms, which have been critical to delivering complex deals. “We have friends all over India who can tell us what’s hot,” he acknowledged, highlighting the firm’s unique approach to collaboration.
Why Choose HSF Kramer?
When asked why Indian corporates should choose HSF Kramer, Shukla pointed to the firm’s deep knowledge of the Indian legal landscape and its ability to bridge cultural gaps. “We understand both ecosystems,” he explained, emphasizing the firm’s commitment to maintaining its Tier 1 status.
Future Plans and Challenges
Both leaders addressed the challenges of deepening relationships with next-generation founders and family office principals. “The friendship that one makes being in the trenches is something you can’t artificially do,” Shukla noted, underscoring the importance of genuine connections.
Regarding the potential to establish an office in India, Shukla and Chak indicated that regulatory and tax certainty are key considerations. “We continue to assess our options,” Shukla stated, reaffirming India’s importance to the firm.
Inspiring the Next Generation
For aspiring Indian lawyers, Shukla and Chak offered words of encouragement. “Work hard, work smart,” Shukla advised, while Chak emphasized the importance of perseverance. “It’s a marathon, not a sprint,” he reminded, highlighting the value of mentorship and support in achieving long-term success.
