Strategic Merger Reshapes Legal Landscape in Banking & Finance Sector

PNN

Mumbai (Maharashtra) [India], August 4: The Indian Bar Council recently amended its rules allowing foreign lawyers and firms in non-litigation domain to practice foreign law, international law and international arbitration in India, on a reciprocal basis, which triggered significant realignments.

Amid this shift, SJ Law, a Mumbai- and Delhi-based law firm headed by Senior Solicitor Samir Jagad, has fully merged with Solicis Lex Advisory. Operating from Bandra and recently expanding to Nariman Point, SJ Law merged through the mediation of a prominent Mumbai-based industrialist.

SJ Law is recognised as a leading Indian Banking and Finance firm, boasting an extensive clientele comprising banks, NBFCs and large-scale financial institutions. Solicis Lex, meanwhile, has grown significantly through acquisitions in Juhu and Delhi, establishing a strong footprint in Supreme Court and High Court litigation, M&A, real estate and NCLT matters.

On 2 August, Solicis Lex welcomed Mr. Jagad as a Partner to lead its Banking & Finance Practice, bringing his entire team on board.

Adv. Ameet Mehta, Managing Partner at Solicis Lex, announced:

"We are pleased to acquire SJ Law through its Sole Proprietor Mr. Jagad, who joins as Senior Partner to exclusively lead our Banking & Finance practice. SJ Law is a long-standing trusted advisor to leading banks, financial institutions and corporate borrowers. Dealogic ranked it many times among the top ten law firms globally and in the Asia-Pacific region as a 'Project Finance Law Firm', including first in the Asia-Pacific during H1 2016. This acquisition realigns our banking vertically across Mumbai and Delhi with evolving client needs."

Mr. Jagad, as team leader, has handled debt transactions exceeding ₹2 trillion (₹2 lakh crores), including ₹1.5 trillion during his tenure at SJ Law, reflecting the depth, complexity and trust associated with his practice.

Reflecting on his journey and future, Mr. Jagad shared:

"The Legal 500 Asia Pacific (2017) noted SJ Law's role in breaking the deadlock between NHAI and banks. Our 'Security Clause', introduced after extensive persuasion, set a sector-wide precedent. I'm excited to join Solicis Lex, which blends legal acumen with strategic foresight. I look forward to building a dynamic Banking & Finance practice with a team focused on excellence, qualitative output and efficient turnaround. I'm especially excited by the firm's threefold growth in four years, positioning it as a market leader. Having known Ameet professionally, I've witnessed his sharp restructuring vision and performance-focused leadership."

Mr. Jagad, 1993 Solicitor's Examination topper, is renowned for his regulatory expertise and innovative, solutions-driven approach in Banking and Finance.

The International Comparative Legal Guide to Project Finance 2016 recognised Mr. Jagad for his extensive expertise in project finance and infrastructure, highlighting his commercial insight, innovation and pioneering solutions in transactions and extending to the sector.

Ms. Swetha Poojary, Senior Lawyer and heading Corporate Law at Solicis Lex, commented:

"We are pleased to acquire SJ Law and welcome Mr. Jagad as Partner. His extensive experience and leadership will strengthen our banking and finance capabilities to better serve sector-wide clients."

With this strategic acquisition, Solicis Lex now has over 300 lawyers, bolstering its presence in finance, banking, pharma and real estate. The firm now has a footprint across 12 countries, alongside a strong domestic presence in India.

Website: www.solicislex.com

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