In Conversation With Srinit Misra, Executive Director & General Counsel India, Ball Corporation

Srinit, what motivated you to study law. Tell us about the initial years of your career?

I think more than motivation , it was always the fascination for the field of Law, that propelled me to take up Law as a profession. I was an active debater & a Play actor throughout my school days. I had the privilege of performing plays at most prestigious venues of Delhi, from Talkatora Stadium (where I was performing for an event of the Congress party)  to India International Centre, to the Tihar Jail, etc . I was lucky to win a lot of awards for my school. Hence, I guess there was always a passion for public speaking. And that was also one of the reasons which attracted me towards the Legal Profession.

Now coming to the initial years of my legal career, I started my career with one of the biggest manufacturing global conglomerates of the World: Siemens. Siemens is a fantastic organization. One of the advantages of working with a global giant is the kind of exposure it provides one with. I started off in the Energy division of Siemens, and thereafter handled the Renewable energy business for Siemens India, & then followed up with handling the Oil & Gas business for Siemens India.  One of the most exciting things about my profile was that at the beginning of my career I was handling large value transactions with gigantic MNC s on the other side of the table. This sort of exposure builds great confidence in a young kid right out of college. A lot of credit for the same also goes to my Seniors at Siemens , and the external counsels I worked with at the beginning of my career. The learnings you gather at the beginning of your career makes a lasting impression on the mind. I received multiple merit awards at Siemens due to the value addition I was doing to the business. Also, the enchantment towards an International profile , and not restricting myself to India as a jurisdiction started at Siemens, as I was handling a number of international transactions at Siemens. One of my great joys was when I was selected from the entire population of Siemens India (after three gruelling rounds of interviews) , to represent Siemens at the One Young world Leadership conference  at Dublin, Ireland, in 2014.

A truly international profile is also one of the main reasons I decided to join Ball Corporation (my current employer). When I joined Ball, I was handling the AMEA business, wherein I was responsible for the countries of India, Egypt, UAE, Turkey and Saudi Arabia. It is inevitable that when you are handling multiple jurisdictions , you are bound to study various nuances of the laws of many countries , and that would most certainly add a lot of work to an already packed work schedule. But I guess that is the challenge and the fun part of an International Profile. My current profile at Ball wherein I lead the legal & compliance function for the entire Asia Business of Ball Corporation, is a very challenging role but a very fulfilling one.

What does a day in your shoes look like at work?

The advantage of working with a truly Global MNC is that there is no dearth of Excitement. My day starts very early as I am based out of India, but the other territories which I am responsible for like Myanmar, Vietnam & Thailand , are ahead of the IST from a timing perspective. Thus, I need to ensure that I am ready for business at the time when the business stakeholders from these territories commence work.

There are number of meetings scheduled for a day, wherein I need to discuss important matters with the various function leaders, like Sales, Finance, Supply Chain, Corporate Communications, HR etc. On many of the days, I have negotiations on high value transactions with External Stakeholders. What is important for me is to find some time everyday for research or just read up on legal topics , so that the domain expertise does not get rusty. It is also extremely important to keep oneself aware of what is happening in the market, especially anything & everything that effects the business you are supporting as an Inhouse counsel, hence gaining that knowledge on a daily basis whether it is by reading journals, discussions with Business stakeholders, or analysing market trends etc , is a must do for me on a daily basis.

If you have manufacturing plants in India and the other Asian markets , you are bound to do fire fighting on most of the days. Presently we have six plants in the Asia region. So, it is not a surprise for me, when I have to re-arrange the entire schedule of a day because a critical matter has turned up in the morning which requires immediate attention. My priority list changes by every hour. As an In-house counsel, one has to wear multiple hats on a daily basis , in one moment you are embodying the role of a compliance leader; in the next you have to be a part of the Supply chain team negotiating a warehouse transaction with a big domestic player; in another moment you have to meet representatives from Ministries as a Director of the company to discuss policy matters. Being a director on the Board of Ball Beverage India , my scope of work also includes working towards the long term strategy of the company. As I am also part of multiple committees of the company , like the CSR committee, the D&I committee & the ICC – on a number of days some part of the day is also devoted to work related to these areas. Working within different time zones makes the days longer, for instance if we have meetings with the Europe team , or the Headquarters in the US (and we generally do have these meeting on most of the days)  by the time I wrap up the work, it is almost past mid night in India. But as the quality of work is extremely interesting, I will be a fool to complain about the long hours. Also, Ball Corporation is one of the best organizations in the world to work for. Ball is the perfect amalgamation of impeccable exposure and nurturing support.

Thus, an In house legal leader has to be on her/his toes all the time , and be prepared to handle any curve ball with the finesse of a seasoned player.

But what is most critical is that while performing all these multiple roles, one has to ensure that your Emotional Quotient is not lost in the insatiable search for perfection. At the end of the day, we all are working with humans, & the personal touch is something no form of technology will ever be able to replace. Thus, I try my best everyday to stay connected with my legal & business teams, whether it is having a simple coffee break together or having a quick discussion about a recent cricket match.

What are some compliance and governance challenges unique to your sector?

We are in the Packaging Industry (wherein we manufacture recyclable aluminium beverage cans and aerosol containers). We have six manufacturing plants in the Asia region, three being in India and one each in Myanmar, Vietnam & Thailand (two of the plants are a JV operation). Thus, we have to be very careful with all the factory compliances. And as every country has its own set of compliances related to the factories, we need to ensure that applicable laws of the land are always adhered to. Ball Corporation being a listed company on the New York stock Exchange, and having presence in more than 50 locations across the globe, we need to be compliant with all the applicable international laws like the FCPA rules, UKBA rules etc. As I am also the Compliance leader for the Asia region, I impart compliance trainings to all the business leaders for all the locations of Asia region, on a regular basis. We also need to abide by International Sanctions regime, which includes the sanctions list or the denied party lists maintained by USA, European Union, United Kingdom or the United Nations. One of the territories I handle is Myanmar, which is a heavily sanctioned country, and  it is my responsibility to ensure that we continue to do business in Myanmar while adhering to the International Sanctions regulations. Hence, I perform the detailed Sanctions due diligence for any entity that Ball Myanmar intends to do business with , prior to performing any commercial transaction with the said entity. Another aspect that deserves a mention are policies and regulations related to the Environment and Sustainability. We engage with the government on many of the Notifications issued by the Ministry of Environment, Forest & Climate Change, and always endeavour to adhere completely with the applicable regulations.

You were elevated to the Board at the age of 34, when you were relatively young. How has that experience been AND what additional responsibilities do you handle as a Board Member ?

I think being elevated to the Board of Ball Beverage India, in my early thirties , was an exceptional feeling. One very rarely comes across cases when one gets elevated to a Board Position at this age,  and that too in a global giant, especially when you are a part of the Legal team, and not in the hard core Operations team. I will always be indebted to my “Ball family” for that. Also, it speaks volumes of the kind of confidence that the Executive Management team of the company has on me. This kind of faith & confidence propels me to always give my 200% for the company. And this is one of the best things about great organizations like Ball Corporation, they empower the employees. Being on the Board coerces one to look at a company as a whole. 

One can not then afford to just feel responsible for one’s own function, but for the entire company. As a Board Director, I am involved in all strategic decisions of the company. I am a member of the ICC, the Diversity & Inclusion committee, the Corporate Social Responsibility (CSR) Committee. When I started my career , I guess I was more focussed on mitigation of risks for the company, but now as a counsel & a Board Director, my job is to identify a situation before it becomes a Risk for the company. Also, I see a number of other Senior In House counsels being appointed as Board Directors as well. This just goes on to prove that the mindset of the in-house counsels being seen as another “cost centre” has already undergone a massive change. Now In house counsels are being given a seat at the Table, because the senior management of big organizations are confident about the value addition that the said counsels can make. In-house lawyers have an acute understanding of the regulatory environment that impact their industries. Similarly, senior in house counsels bring a proactive approach to identifying and mitigating potential legal and business risks which serves the interests of the Board Members.

Given your experience negotiating and closing transactions with global MNCs, what are some of the key challenges you face in these negotiations, and how do you address them to ensure mutually beneficial agreements?

Negotiations are one of the most challenging & rewarding activities for an In house counsel, especially negotiations for high value transactions. I was lucky to get the experience of negotiating high value International transactions at the beginning of my career. When you have seasoned lawyers on the other side , it is inevitable that you need to be well prepared. By preparation I do not mean just the Legal part/aspects & your legal arguments justifying one’s demands. To make the maximum value addition in a negotiation, a counsel has to understand every nuance attached to the deal in hand. And that is also one of the key challenges a counsel might face in a negotiation. One can not just segregate the Legal aspects of a Negotiation and leave the entire commercial parts to the Business colleagues. 

Of course, the Business teams will be present for the negotiations, but an effective counsel will always understand the requirements of the business teams. I have worked with behemoth Manufacturing companies, and I think if I did not understand the product inside out that my company was selling , I could never get the best results for my company in any of the negotiations. I can speak from my experience that any one who works in a Manufacturing company must visit the plants and invest a lot of time understanding the Product your company is manufacturing. Another key challenge in high value transactions is the “Ego Issue”. Every lawyer wants to “win”, and the definition of win varies depending  on the type of law one is practicing. For a litigator , getting an award in favor of her/his client may feel like a win, and for an in house counsel getting the best terms in favor of her/his company in a transaction may feel like a win. But a counsel should always remember that Negotiations are not about winning an argument or getting a clause in your favor, it is about finding a solution that satisfies both sides’ interests . A good negotiator should always separate the person from the problem. Sometimes the counsel or the team on the other side may get rough or rude, but a prudent counsel should never take anything personally.

Most of the time in high value negotiations I am facing Customers that my company wants to do business with for a really long period of time, so even though I want to protect the interests of my company in the best possible manner,  I also need to maintain the relationship. Hence, as a Senior stakeholder of the business, I always endeavor to find a path in a negotiation where both parties feel like they have “won”.

In your view, what does the future hold for legal teams embracing technology?  How do you see governance and compliance frameworks changing with the emergence of legal tech and AI?

I think Legal Tech is going to be a crucial part of the Legal Function in the near future. Even now, we do witness the usage of technology in avenues like document management, contract review, legal research, eDiscovery, case management etc. It is a proven fact that Legal tech, when used effectively can provide greater efficiency, and by extension, cost effectiveness. Capitalizing upon legal tech opportunities will also become increasingly pertinent as a solution to growth in corporate risk and associated costs. In our profession, work-induced stress or burnout is not uncommon, thus there is clearly a demand for solutions that empower lawyers to work more effectively and efficiently, and this is where Legal Tech can come in handy. How seriously the Legal Industry is taking AI is evident with the partnerships like that of global law firm Allen & Overy and Harvey AI.

Allen & Overy has integrated Harvey, the innovative artificial intelligence platform built on a version of Open AI, into its global practice. But like every coin has two sides, the usage of AI also brings with itself a number of challenges. I think the first challenge is going to be to the efficient usage of AI itself, which type of technology to use and which one is the most suitable for a specific organization. The legal industry is flooded with legal tech right now, and there is more to come, but one needs to remember that cost efficiency must be at the heart of adopting any form of technology (unless the said technology is required from a compliance perspective). If a specific technology is suitable for one organization , it does not necessarily mean that the same technology is going to be suitable for every other Organization.

Another challenge is going to be the bias factor. Any type of AI is purely based on the data fed into it, thus if the people programming have bias then the same can be reflected in the final product as well. While using any form of AI, a lawyer will have to ensure that a balance is maintained between the usage of AI and data privacy; between maintaining confidentiality & the usage of technology. With the passage of time, when the Legal fraternity starts using technology more & more, this usage will definitely change certain aspects of the Legal Profession. Furthermore, the implementation of AI-powered legal tech may lead to a number of new roles for lawyers. Similarly, the composition of Legal Teams may also change in the times to come, where teams may feel that lawyers having the dual skill of a technologist adds more value in a specific organization, then just a lawyer. I guess for a lot of questions attributed to AI, only time will provide a suitable answer.