Having The Ability To “Read The Room” Is Critical In Any Negotiation—In Conversation With Abhishek Sanyal, Partner, Economic Laws Practice

How and when did you know becoming a lawyer was your life’s true calling? 

Narrowing down on law as a career option was more through a process of elimination than selection. I had opted for the sciences in my +2 to keep my options open and entered the rat race of preparing for the engineering entrance examinations, only to realize midway that it was not my calling. I had a natural inclination towards discussing ideas and loved reading about and discussing issues like equality, fairness, and justice, as opposed to working on calculations relating to various parameters on an object which was pushed downwards with a force of 10 Newtons at a 30-degree incline!

I then started preparing for entrance examinations for law schools. We didn’t have the CLAT back then and so I had to take multiple entrance exams. I was ranked 15 across India in Nalsar’s entrance exam and 21 across India in Symbiosis and GGSIP University’s entrance exam. It then became clear to me that law was my true calling. 

Would you please tell us about your specialization and the array of work you handle at your firm?

I am a corporate transactional lawyer and spend a significant amount of my time on various transactions relating to mergers and acquisitions and private equity, apart from rendering advice on matters of general corporate law. Thus, I spend a lot of time negotiating and drafting contracts in connection with a wide variety of transactions. Thankfully I have an excellent team that makes life easier for me.

What are some of the upcoming trends of the industry?

The next few years are going to be very busy for us as we anticipate a lot of investments being made in Indian industry on account of very high levels of dry powder that will be deployed by private equity firms. 

The next few years are going to be very busy for us as we anticipate a lot of investments being made in Indian industry on account of very high levels of dry powder that will be deployed by private equity firms. Additionally, the rejigging of global supply chains in the aftermath of the Covid-19 pandemic has also led to increased investments in India and is likely to remain a dominant theme in the years to come. Sectors that have attracted, and will likely continue to attract, investments, are IT/ITeS, fintech, manufacturing, pharma and healthcare, and BFSI.

One recent landmark judgement that you’d like to share a word about.

The recent judgments of the Delhi High Court and the Supreme Court in relation to the disputes between Amazon, Reliance, and the Future Group make for a very interesting read, especially in the context of M&A in public companies in India. As a corporate lawyer, it was interesting to read the arguments made by all the parties concerned.

As a new age lawyer, what to your mind is the one thing in the current legal ecosystem at the Bar, Bench, or in the Law Firms that needs our attention.

In my view, training in law school is hardly sufficient to prepare you for life after law school.

In my view, training in law school is hardly sufficient to prepare you for life after law school. As a corporate lawyer, for example, much of your skills are learnt on the job – and while learning is a process that never stops, in my opinion, law schools can do a lot more. Just as an example, lawyers aiming to build their careers in corporate law must know how to read a balance sheet, profit and loss account and cash flow statements. As a fresher, knowing what to look for in due diligence is also a key skill set. I also think that litigating lawyers should pay more to attract better talent.

Many Congratulations on joining the BW Legal World Elite 40 Under 40 Club of Achievers 2021. What to your mind has helped you get to where you are and what advice would you have for others who want to set off in a similar direction?

I have been blessed to have had the guidance of stalwarts in the legal profession. My time spent in Khaitan & Co, especially with Mr Bharat Anand, Mr Rajat Mukherjee and Mr Sharad Vaid were critical as they developed my foundations. Thereafter, at Economic Laws Practice, I have been fortunate to have worked with and learnt from, Mr Suhail Nathani and Mr Sujjain Talwar have guided me from time to time and entrusted me with a lot of responsibilities.

Having the ability to “read the room” is critical in any negotiation

In my view, there are a number of factors that are critical for any corporate lawyer. While knowledge of the law and basic legal principles is essential, it is also important to have the following skills: (i) the ability to think logically and identify various legal issues in any fact pattern; (ii) the ability to write in a clear and concise manner; (iii) being disciplined and methodical; (iv) having attention to detail; (v) staying abreast of legal developments; (vi) having the ability to articulate properly; (vii) having the ability to “read the room” and having an EQ is critical in any negotiation; and (viii) being “commercial” and deal-oriented.

As a final note, would you please recommend to our readers your favourite book that left a lasting impression on you.

I don’t get a lot of time to read, but when I do, I prefer reading non-fiction. I enjoyed reading Elon Musk’s biography by Ashley Vance. I’m a fan of Elon and am really amazed at how he manages multiple projects. And that he plans to make us an interplanetary species!