Ashurst has recently entered into best-friends relationship with a start-up firm, Indian Law Partners (ILP) for referral work. ILP is a breakaway of DSK Legal and consists of two partners, Gopika Pant and Piyoosh Gupta, one counsel and ten associates.

ILP was set up by Pant in December 1999 which later merged with DSK Legal in 2004. Gupta had joined ILP in 2000. Both Pant and Gupta are formerly from Amarchand & Mangaldas.

The non-exclusive arrangement will see both the firms refer work to each other on a preferential basis.

Richard Gubbins, head of Ashurst’s India practice in the press release said, “Gopika Pant and Piyoosh Gupta are both excellent lawyers. We have worked together on many matters over the years and we share a number of mutual clients. We very much look forward to continuing to work alongside one another whenever we can”.

Ashurst had initially set up a liaison office in Delhi in 1994. However, Ashurst and two other foreign firms, Chadbourne & Parke and White & Case were required to stop operations of their liaison offices in view of the Lawyers Collective case. Since then the foreign law firms have been looking at alternate routes to enter the Indian market and ‘Best-friends’ arrangements finding much favour with them.

Ashurst’s recent deals in India include advising on Coal India’s $3.3 billion IPO and advising Oil India Limited in relation to its $560 million IPO.

Recently, Australian boutique firm Rockwell Bates and Rajani Associates had entered into non-exclusive mutual referral agreement.