Guiding Thoughts By Krishnava Dutt On Transforming Leadership: The Growing Importance Of General Counsel

Krishnava Dutt, Founder and Managing Partner of Argus Partners explained the fascinating course of General Counsel (GCs) in Indian corporations, highlighting their metamorphosis from background legal advisors to strategic leaders. 

“Traditionally relegated to handling disputes and litigation, GCs initially functioned in a peripheral role. However, India's economic reforms ushered in a new era where GCs found themselves actively involved in dissecting complex transactions and proactively identifying potential legal roadblocks,” said Dutt.

This phase seamlessly transitioned into a period where GCs donned the hat of solution providers, working hand-in-hand with businesses to craft innovative solutions to legal hurdles. The most recent and significant shift catapults GCs to the forefront of corporate governance and compliance. They are now seen as strategic architects, wielding significant influence in shaping the overall business strategy.

Dutt underscored the burgeoning importance of GCs, emphasising their expanding repertoire beyond just legal expertise. Modern-day GCs are expected to be not just legal wizards but well-versed business aficionados. Financial intricacies, product development intricacies and the ever-evolving regulatory landscape all fall within their domain of knowledge. Armed with this holistic understanding, GCs are no longer confined to the legal department. They actively participate in discussions on product development, investor relations and even internal communication strategies. 

“This comprehensive perspective empowers them to significantly influence the company's narrative and brand reputation. In essence, GCs have transformed into strategic cornerstones, shaping the corporate landscape in contemporary India,” Dutt stated.