Indian companies are expanding in-house legal teams
Expensive hourly billing rates by top corporate law firms in India have seen legal costs escalating for most companies
Recently, when a JSW Steel Ltd-led consortium had almost clinched the deal for Monnet Ispat & Energy, another hurdle came up. The bankruptcy tribunal insisted on including small operational creditors as well, something that was not considered before. JSW Steel’s in-house legal team led by group general counsel Rajiv Bakshi stepped in, helping the consortium make a quick decision and raise its bid by ₹ 25 crore. JSW ended up bagging the Monnet Ispat deal.