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Prasad will step down from the Management Committee, which includes himself, Rahul Matthan and Karan Singh, on March 31 this year.
Prasad briefly indulged with Aam Aadmi Party (AAP) in its formative years.
“My sense is that that there is definitely some value in participating in the political process. Being in a commercial firm, makes it difficult to actively participate.”
As an independent counsel, Prasad would act more as an advisor to lawyers and law firms in corporate/commercial space and also work on social issues.
Bar & Bench’s Pallavi Saluja speaks with Prasad on his decision to leave the firm, and the impact his departure will have.
Pallavi Saluja: Can you talk about your decision to leave the firm?
Anand Prasad: I have been politically and socially inclined for a very long time. However, since integrity was important to me and I did not come from sufficient family wealth (my dad was an army officer), there was no option but to purse financial security before getting serious with political and social causes.
Trilegal’s growth has helped with the financial aspect. Also, the firm is now a strong, robust and stable platform and my partners and colleagues are immensely capable of continuing with the growth path.
With that comfort, it probably was a good time to start pursuing my political and social inclinations with greater seriousness. This was difficult to do in a commercial legal practice, where client expectations favor political neutrality. Hence the thought of transiting to independent counsel practice.
Pallavi Saluja: Was this something you always wanted to do?
Anand Prasad: It was always something I felt I had to do. Hopefully, there will continue to be other professionals who would be happy to contribute to society at an appropriate stage in their lives.
Pallavi Saluja: You are the co-founder of the firm and part of the Management Committee. How will the transition happen?
Anand Prasad: The firm has some clear thoughts on next steps, some of this you would hear of in the next few months.
Pallavi Saluja: Do you think your decision to leave the firm will have a huge impact on the firm or will create a vacuum?
Anand Prasad: The firm has always had an institutional approach. We have an excellent bunch of partners and other senior folk. All of them are immensely capable of taking the firm to its next level.