Delhi-based law firm Luthra & Luthra has announced a radical shakeup of its partnership and governance structure, a move it hopes will lay the groundwork for future expansion.
The firm has nearly completed its conversion to a lockstep model of partnership. This will see a number of its current salaried partners take a share in the equity of the firm, with their stakes increasing in line with their seniority.
“I am convinced that it will enhance and widen our growth trajectory. We are just formalizing that philosophy with a transparent mechanism by which the seniors and performers in the partnership feel rewarded and have a sense of ownership,” explained Rajiv Luthra, the firm’s managing partner.
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