Rajiv Luthra, Mohit Saraf begin mediation before Senior Advocate Sriram Panchu

Pursuant to the order passed by the Delhi High Court, L&L Partners Founder Rajiv Luthra and Senior Partner Mohit Saraf today submitted themselves to mediation before Senior Advocate Sriram Panchu. ."We are going with a completely open mind and willing to work on all reasonable and respectable options“, Sitesh Mukherjee, counsel for Mohit Saraf told Bar & Bench. .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..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..L&L Partners saga rages on as Rajiv Luthra terminates Mohit Saraf from partnership for "clumsy strategy" on equity dilution.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..Senior Partner Saraf has now moved the Delhi High Court against the termination of his partnership with L&L Partners by the Founder Partner, Rajiv Luthra. .Arguing before the High Court, Saraf yesterday raised serious objections against the removal of his name and blocking of the access to his email, office, papers and the entire IT infrastructure. .He maintained that it was Luthra who had in fact given notice of his withdrawal from the firm on January 6 this year and the same was accordingly accepted. .[Breaking] Delhi High Court sends Rajiv Luthra v. Mohit Saraf to mediation before Sriram Panchu.Luthra, on the other hand, argued that given Saaraf's conduct which was "unbecoming of a lawyer", there was no option but to terminate his partnership. .It was also assrted that in the matters of termination, the ultimate power vested with Luthra and not Saraf..After hearing the parties at length, a single Judge Bench of Justice V Kameswar Rao had then referred the matter to mediation with the consent of the parties.