Interview with Mr. Adarsh Somani, Director at Economic Law Practices, Mumbai

Must Read

Interview with Dr. Vijay Kumar Singh, Dean of School of Law, UPES Dehradun

Dr Vijay Kumar Singh is the Dean of the School of Law, University of Petroleum and Energy Studies, Dehradun. He is known for his experience in the field and his will to never stop learning. His journey is quite interesting as he started off as a science student and with time discovered his passion for law. He has served as the Deputy Director in the Competition Commission and also as the Associate Professor and Head of Corporate Law at Indian Institute of Corporate Affairs. Dr. Singh was invited as the Member on the Editorial Board of Annual Journal on Competition Law and Policy of Competition Commission of India, SIPI Task Force and Academics Committee of INSOL India, to name a few. He also has written many research papers and has published his work in form of books. In this Interview, Dr Singh discusses his life as a student of law and how he utilizes his experience from those days to help the students of the University. He also discusses his experience of working at different places and provides advice on certain problems commonly faced by students of law.

Interview with Aditya Chopra, Founder and Managing Partner of Victoriam Legalis

Mr. Aditya Chopra is the Founder and Managing Partner of Victoriam Legalis, a law firm that specializes in multi-jurisdictional practice stationed in Mumbai, India. Previously, he co-founded PSL Advocates and Solicitors and SanAd Legal and were later merged. Mr. Chopra has served as Legal Consultant to Mr. Seemanto Roy at Sahara India Pariwar. He has been named as the “Rising Star Under 40, 2020” by LegalEra. With great experience in mooting and an outstanding academic record, Mr. Aditya, in this interview discusses his journey from law school to developing his own style and name in the field.

Interview with Dr. Sagar Suresh Dhole, Senior Counsel at Mastercard, earlier appointed as Welfare Administrator in Office of Director General (Labour Welfare), Ministry of...

Dr. Sagar Suresh Dhole is Senior Counsel at Mastercard. Recommended by the Union Public Service Commission in 2016 and was appointed as “Welfare Administrator” in Office of Director General (Labour Welfare), Ministry of Labour and Employment, Government of India in 2017. He is a Legal, Compliance and Ethics Professional with strategist corporate legal and leadership experience of 12+years in Payment, Banking Technology Service Industries.

Interview with Manav Gecil Thomas, Partner at Thomas George and Associates, Hyderabad

Mr. Manav Gecil Thomas is a name partner at Thomas George and Associates, Hyderabad. He has been a part of the legal profession for over 4-5 years. He deals with a diverse area of litigation matters spread over different kinds of laws practising and appearing before various judicial/quasi-judicial fora starting from the lowest court of jurisdiction to the Supreme Court. He is also known for his experience in non-litigation matters.

Interview with Rajiv Tuli, Managing Partner of LegalLands and Vaidat Legale Services

Rajiv Tuli is the Managing Partner of LegalLands and Vaidat Legale Services. Prior to this, he was the managing...

Interview with Ankur Sood, Advocate, Supreme Court of India

Ankur Sood is an Independent Advocate dealing with both Civil as well as Criminal Cases before various Courts and...
Lavanya Ambalkar
I'm a 3rd-year student at Symbiosis Law School, Pune. My interest lies in Corporate and Intellectual Property Law and I am also the Founder and Chief Editor of "Reipublicae", a legal-political blog.

Follow us

Adarsh Somani is a Director at Economic Law Practices, Mumbai and part of firm’s tax practice. He is a Chartered Accountant and a law graduate from University of Rajasthan.

Adarsh assists several multinational and domestic companies in deploying tax efficient value chains in business. He has now been servicing clients for more than a decade. Adarsh inter-alia extensively focusses on Goods and Services Tax matters and tax policy issues. Adarsh’s skill sets also include contract structuring, negotiations as well as transaction advisory from a tax perspective.

Major industries for Adarsh include Pharma & FMCG, Financial Services, and retail businesses.

He is a regular speaker at tax conferences and conventions and has also co-contributed a paper on ‘Valuation and Classification under GST’ for ICAI in past. He regularly writes columns for various online and offline publications.

Prior to joining ELP, Adarsh has worked at BMR Advisors and Ernst & Young.

Lavanya: There have been times when legal studies were not recognized as a good career option. However, many students are voluntarily opting for law in the present time. What motivated you to take up law as a career? Please share your experience with us.

Mr. Somani: I do not with precision recall the finer aspects.  But I was persuaded to take up law as it was difficult to find another field of study that so profoundly and clearly impacts & pervades business, society & humanity at the same time. Also, it was available for one to witness the prestige & position that eminent lawyers enjoy – so thought of taking up this as a career option in equal zest to make name & find fame.

For those, who believe that legal studies is not a good/ great career option, just one word – this profession is all things ART; so unless you are really creative unlikely that you’ll be able to see the extremely bright light at the tunnel.

Lavanya: You are a certified CA from The Institute of Chartered Accountants of India as well as a law graduate from the University of Rajasthan. How does being a CA help you in fulfilling the role of a lawyer? How do you think, being a law graduate as well as a CA has helped you in your career?

Mr. Somani: Let’s set the record straight – both push you for having an ‘eye for detail’ and hence, the learnings would well compliment. Having two such degrees would imply you have trained twice over for the best approach to your job!

Do not necessarily read a recommendation, in above, to have both degrees – either degree with good professional attributes would still be as effective as anything. Self-belief is more important that degrees on your resume.

Lavanya: You appeared for CA exams while you were doing your bachelor’s in commerce as well as in law. What challenges did you face in managing your schedule? Did you find it difficult, pursuing two courses side by side? What advice would you like to give to undergraduate students who are appearing in CA exams while pursuing LLB?

Mr. Somani: Students pursuing multiple degrees simultaneous should always be clear that neither should be pursued for the sake of it.  That’s the start point of you paying attention to what different courses would expect out of you. Next up is to be Organized!

Back in the day, as students, we were suggested by our mentors to always have study targets written and compared on a daily basis.  That would let you know, in serious written terms, where do you stand on a daily basis and ofcourse allow you to re-augment the timetable as and when required.  In the hindsight, if I wouldn’t have done exactly that way, studies would have become a burden instead of choice.

Most importantly as a student, doing any number of courses, if one follows virtues of यम, नियम & संयम in their conduct most of the problems would not even dare to arise.

Lavanya: You have achieved a lot in your career. However, there might have been times when you might have faced setbacks. What kind of setbacks does one have to face in the legal field and how to grow despite such setbacks?

Mr. Somani: One permanent risk that any career runs is about growth being stalled. It happens for a variety of reasons, including some beyond control.

CHOICES – Everything that is within one’s control is addressed by your efforts on the job.  The start point is choosing a field/ job that you would love to do, a wrong career choice would always be marred by performance depicting a lack of care or interest and that no one appreciates.

BE A FORETELLER – The second, and the most important part, is to be keep reinventing yourself – laws would change and you are, therefore, required to change too?  Some people say reading a lot helps; however, in my assessment – I have never seen mere reader becoming a leader.  People ahead of the curve preempt and basis that pre-emption prepare. This preparation makes you a thought leader and stagnation proof.

WEAR A SMILE – there are instances when the setback is contributed by factors beyond your control. However, if you can smile in the face of that adversity that helps the pain to subside a great deal.  I am firm believer that a setback would always teach you a lesson, which would be important for rest of your career/ life. This lesson expects you to work harder on the problem and now that one knows such things happen, at least don’t let it happen again.

One other peculiar setback in the legal field is the cost of your decision/ interpretation of law.  Most budding lawyers wish to take the right approach and that may have current or future costs associated with it.  Some costs may never surface too but that’s not important as taking chances is never so good.  The easy solution/ approach to this issue is to simulate the impact of your work and see does it achieve real objectives – always aim for a legal interpretation, which is balanced; legal writing, which is clear and unambiguous; and legal talk, which is just what it needs to be and far from being flowery or colloquial.

Lavanya: As the government is moving towards a cashless economy, section 31 A has been inserted in Central Goods and Services Tax Act. This new section inserted in the CGST Act will mandate certain registered suppliers to give their recipients the option of prescribed modes of electronic payment. This move will also help prevent the evasion of taxes.What is your take on this? Please share your views.

Mr. Somani: Evasion of taxes is a mindset issue.  Though e-payment is a good step but will it combat everything, am unsure.  Compliance is attracted when laws are simple, procedures are not costly and administration is fair.  I don’t want to speculate how far are we from an ideal situation, when evasion of taxes would a thing of past.

Lavanya: You have been working with your law firm, Economic Laws Practice for quite some time. What kind of business relationships do you believe a lawyer must maintain with his/her clients to secure a long and stable association?

Mr. Somani: The clients broadly need lawyers (or if I can say consultants) for two streams of their requirements – one which is critical and other one is routine.  These requirements could be addressed by replaceable resources as there is no lack of capabilities in the marketplace.

If you have to stand out of the league, ideation and consistent value delivery is what one has to focus on.  Remember pre-empting aspect above, if you can be the foreteller for your client, they’ll love you.

Lavanya: It is a common perception among law students that pursuing CA/CS along with their law degree would ensure them a high- paying job. Do you think that this ideology is correct and that law students should have a back-up qualification? In your opinion, do these courses help degree holders to secure top positions in the corporate industry?

Mr. Somani: What you make for yourself out of a job is directly relatable to what do you bring on the table for the user. And, there is no reference to your degree in this.  So remember that while multiple degrees can arguably give you a good start but your performance alone would take you forward.  Focusing on your capabilities and delivering the job alone is the guarantee for success, the degrees are not.

Insofar as money making is concerned for service providers, lawyers/ CA/ CSs all included, there are three attributes of work – Fast, Cheap, Good – one can only pick two at a time (all three rarely co-exists).  With that you know, how to make a quick buck – the formula is clear!



LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest News

Calcutta High Court Rejects the Petition Challenging the Bid’s Rejection Filed on Seeking Condonation of Delay Due to Pandemic Interventions in Absence of Satisfactory...

Case: Shiba Prosad Banerjee vs The State of West Bengal and others The Hon’ble Justice Sabyasachi Bhattacharyya of Calcutta High Court on 22nd January...

Calcutta High Court Reiterated the Scope of the Grounds for Exercising Its Criminal Revisional Jurisdiction.

Case: Shreya Beria vs Vedant Bhagat The Calcutta HC on 20th January 2021, dismissed the criminal revision filed by the Petitioners (wife) challenging the...

Calcutta High Court: Deceased’s Wife Has the Sole Right Over His Preserved Sperm; Father Doesn’t Have Any Fundamental Right Over Son’s Progeny Without the...

Case: Asok Kumar Chatterjee vs. The Union of India & Ors. The Calcutta High Court dismissed the petition by the Petitioner (father) on 19th...

Gujarat High Court Allows a Family Suit to Be Transferred From Family Court, Surat to the Family Court, Bhavnagar

The Court directed that in light of the circumstances of the present case, the application of the applicant- wife to transfer the case from...

Telangana HC Grants Two Days to Convey the Decision of Appropriate Notification and Counselling to the Higher Secondary Department

Excerpt In Telangana Republican Party Trp vs The State Of Telangana, on 18 January 2021, Telangana High Court directed the Higher Education Department for passing...

Telangana HC: Applications Have to Be Made Through Online Web Portal “Dharani” for Mutation of Names

Excerpt In P. Manohar Reddy vs The State Of Telangana And 3 Others, on 18 January 2021, Telangana High Court directed that one has to...

Indonesian Spa Therapist Approaches Supreme Court Regarding Illegal Detention Followed by Raid at the Spa

An Indonesian spa therapist has moved to Supreme Court, whilst challenging an HC order which provided relief to the police inspector who was involved in the illegal detention of the spa therapist in a woman’s home which was followed by a police raid at the spa.

Questions of Forgery, Tampering Not Capable of Summary Adjudication Under Article 226 in Delhi High Court’s Jee Marks Case

Questions of fraud, forgery, and tampering require elaborate evidence as per the ruling of the Delhi High Court making it incapable of summary adjudication...

Supreme Court: Urgent and Immediate Reforms Needed in the Legal Education Due To Mushrooming of Law Schools

The Supreme Court, on Saturday, said that there is an urgent need for reforming the legal education in the country as its quality is being affected due to the ‘mushrooming’ of Law Colleges.

Delhi High Court Ruled Disclosure of Interest in Information Sought Under Rti Act Necessary to Establish Bonafides of Applicant

The Delhi HC opined that disclosure of the interest of information is necessary for the information sought under the RTI Act for establishing bonafide...

More Articles Like This

- Advertisement -