In a significant development, IndusLaw Capital Markets Partner Manan Lahoty is leaving the firm to join Cyril Amarchand Mangaldas along with his team of 50-plus lawyers, sources reveal.

It is understood that Lahoty is moving with a team of eight partners.

We have reached out to Cyril Amarchand Mangaldas, IndusLaw and Manan Lahoty for comment.

Lahoty had joined IndusLaw in 2019 from Luthra & Luthra Law Offices. He is qualified to practice in both England and Wales, and India.

He has advised on some of the largest Indian transactions in the domestic and international capital markets, including the public offering by Coal India, the public offering by Zomato, the CPSE Exchange Traded Fund and the stake sale by Daiichi in Sun Pharmaceutical.

He also advises on securities law matters involving leading domestic and international investment banks in India. His practice includes providing advice on pre-offering corporate restructuring, corporate governance and other corporate and securities law matters.

Lahoty graduated from Cardiff Law School in 2001. He initially worked at LexIndia before joining the erstwhile Amarchand Mangaldas in 2002. He spent over three years there before moving to Luthra in 2006. In October 2007, he left Luthra to work at Shearman & Sterling. In 2009, he returned to Luthra as a Partner in the Capital Markets group before moving with this team to IndusLaw in 2019.

Recently, IndusLaw has seen quite a few exits. Disputes Partner Padmaja Kaul left the firm with her team to join JSA. Avik Biswas and Vaibhav Bhardwaj have left and joined Khaitan & Co as Partners in the firm's Employment, Labour and Benefits practice along with their teams.