- Apprentice Lawyer
- Legal Jobs
The Delhi High Court will hear tomorrow a plea filed by Senior Partner at L&L Partners, Mohit Saraf against the firm's Founding Partner, Rajiv Luthra (Mohit Saraf vs Rajiv Luthra).
The matter is listed before a Single Judge Bench of Justice V Kameswar Rao.
The two senior-most partners at L&L Partners have been embroiled in a tiff over the dilution of the firm's equity for weeks now.
The main contention in Saraf's plea before the Delhi High Court is that he cannot be summarily thrown out of the firm using strong-arm tactics.
Even as Saraf rejected Luthra's proposal that all partners holding equity dilute their stake in the firm, the latter went on to induct two equity partners into the firm.
Eventually, Saraf wrote to the corporate partners stating that he had accepted Luthra's earlier offer to retire and withdraw from the firm. He also alleged that there were "material breaches of the partnership deed" by Luthra.
In response, Luthra not only denied retiring from the law firm, but also terminated Saraf's partnership on account of the latter's "clumsy strategy" on equity dilution.
Luthra pointed out the lack of legal sanctity of the content of Saraf's email, as per which the founder of the firm was put on "imaginary retirement/withdrawal" from the firm.