Prof. Prateek Bhattacharya
1+ of articles published
Creative Mind / Wise Guide / Artistic Soul
Domain:
upGrad
Current role in the industry:
PhD Candidate at Monash University.,Associate Professor of Law at O.P. Jindal Global University (JGU)
Educational Qualification:
Master of Laws (LLM) in International Law and Legal Studies from Universität des Saarlandes (2012 - 2013).,Bachelor of Laws (LLB) in International Law and Legal Studies from National Law University, Jodhpur (2007 - 2012).
Expertise:
International Trade
International Law
International Arbitration
Competition Law
About
Prof. Prateek Bhattacharya is currently working as an Academic Head, LL.M. in Corporate & Financial Law (Online Mode & Blended Learning) at Jindal Global Law School. He has done his LL.B. from NLU, Jodhpur. Prof. Prateek, a DAAD Scholar, has done his LL.M. from Europa Institut, Saarland University, Germany. The author has previously worked at Shardul Amarchand Mangaldas.
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Career Opportunities: Corporate and Financial Law
Corporate law and financial law are subjects that provide enormous opportunities in India. An individual trained in these fields can look forward to a variety of options to satisfy their personal and professional growth. Why should you choose Corporate and Financial Law? Because it can help you get job opportunities at competitive positions in top law firms or in-house legal departments that are looking to recruit individuals with exposure to company law, corporate transactions, M&A, banking, insolvency, etc. What is the career scope in corporate and financial law? Lawyers need to have a keen analytical, presentation, and contextual skills. Therefore, choosing the right program is vital as it can enhance abilities to take on various roles in the legal industry. Corporate and financial law professional is tasked with wearing multiple hats during their career. Below are some of the areas where they need to have the expertise to become a well-rounded corporate legal professional. The top law firms and companies are always on the look-out for such professionals. Legal professionals are highly in demand, and the market is expected to reach $788.94 billion in 2022 (Source). There is a huge importance for legal professionals in the market. Organizations require professionals to take care of the minute details while making deals; along with that, legal professionals provide advice that helps the organizations in staying profitable and carry out functions without breaching any laws. Area: Corporate and Financial Law Industry Specifics: Across all companies, law firms, and litigation Corporate and financial lawyers are in great demand. Companies are looking for a corporate lawyer who is dedicated to their organization and is well-versed in both corporate and financial legal aspects of the market. As a corporate and/or financial lawyer, you have to be proficient in all fields concerning finance, banking, commerce, compliance, and regulation. You will require keen analytical, legal, and strategic decision making skills, which will allow you to draft and interpret commercial contracts, negotiate deals, and provide legal advice to the companies that you represent. Some of the skills required by the corporate and finance lawyer are mentioned below- Industry knowledge Oral and written communication Analytical Data management Advocacy Drafting Negotiating People management Risk Management On an average the salary of corporate financial law professional is 6.5 lakhs per annum. The average salary ranges from 1.6 lakhs per annum to 29.5 lakhs per annum (Source). Lawyers need to invest more time into their skills and gain wider experience as well in order to climb up the ladder of success. Corporate and finance law is a demanded field, it is not only in demand but also a promising and high-paying career. One needs to invest time and effort into gaining skills and knowledge of the domain in order to get better opportunities. Our Learners also read: Free online Law courses with free certificates! Area: Mergers and Acquisitions (M&A) Industry Specifics: Across all companies – start-ups, mid-sized, MNCs, conglomerates etc. In today’s world, mergers and acquisitions are the order of the day, and professionals must be well-versed in both national and international law dealing with M&A. The finer points of M&A require due diligence, which is key to corporate commercial transactions. As an M&A lawyer, you should be primed for due diligence, drafting exercises, and risk assessment procedures, which is a vital aspect for corporations and instrumental to how they make business decisions. For example, an acquiring company should undertake due diligence to value the target entity, and the legal professional must use all their acumen to analyze the legal aspects of the deal. Nothing can be left to providence as all actions involving the valuation can affect the companies concerned, and it can make or break the deal’s success. Transactional planning, legal due diligence, and preparation of investment strategies are vital to the success of mergers and acquisitions. This work will culminate in the submissions you make before regulatory bodies like SEBI, the National Company Law Tribunal, and the Competition Commission of India, will require companies (and their lawyers) to cover all aspects and leave no stone unturned. Some of the skills required from the M&A lawyers are mentioned below- Business Acumen Advocacy Analytic Risk Analysis Time management Oral and written communication Leadership skills Team management On average the salary of a mergers and acquisitions lawyer is ₹975,915 lakhs per annum (Source). The salary may differ according to location, organization, experience, skill sets, etc. average the salary of a mergers and acquisitions lawyer Area: Banking & Finance Operations Industry Specifics: Banks, Financial Institutions, Insurance Companies, Broking Houses Banks, Non-Banking Financial Companies, and other financial institutions are an integral part of the economy, and have prospered with the growth of India Inc. They play a vital role in providing credit, which is essential for the economy to grow faster. While finance plays an important role in the economy, its role within an organization can never be downplayed. As a financial lawyer, you will need to cover an entire spectrum of transactions concerning the kind and transfer of credit to companies, as well as the legal framework of such transactions and operations. It is vital to have a keen understanding of different types of financial arrangements and their effects, from a legal and commercial standpoint. Challenge yourself to become an exceptional professional. Use your analytical and legal skills to prove your mantle in the banking industry and be a pillar of strength in the growth of an institution. Area: Insolvency Law Industry Specifics: Across all law firms, companies, and litigation The Indian insolvency system underwent a complete overhaul with the introduction of the Insolvency and Bankruptcy Code (IBC) in 2016. Previously, there was a plethora of legislation governing different stages of corporate debt resolution and applicable to different categories of stakeholders, and the piecemeal nature of the legislation made the system of grievance redressal for stakeholders very cumbersome. The government enacted the IBC to streamline the insolvency and bankruptcy system, so that the debt resolution process can be unclogged and made more investment-friendly and favourable to creditors, thereby boosting the country’s investment climate. You should be well-versed in various facets of corporate insolvency, including adjudication processes before the National Company Law Tribunal, National Company Law Appellate Tribunal, the Supreme Court of India. Develop your deal-making abilities and get a grasp of the intricacies of the corporate insolvency in India and the procedures and practices thereof. Some aspirational roles for mid-level to senior-level legal professionals. General Counsel in top MNCs, Indian Conglomerates, Mid-Sized companies, or Start-ups A General Counsel, or Legal Manager or Chief Legal Officer acts as the chief attorney of the company, and heads the legal department within the corporate office. General Counsels can be termed as a senior position that finalizes legal strategy and manages other legal professionals in the organization. The scope of work may include – Advising senior executives, key managerial personnel, and the Board of Directors on legal matters concerning the company’s operations, and updates regarding new laws. Managing the organization’s legal affairs. Drafting and reviewing different statutory and legal submissions, including authoritative legal opinions. Examining and drafting agreements, like employment and vendor contracts. Managing knowledge of the organization’s operations and legalities involved, and monitoring legal agreements. Leading legal research and evaluating the company’s litigation strategy concerning legal actions. Liaising with outside counsel regarding M&A, investments, and/or litigation matters. Creating and managing the organization’s intellectual property. Some of the skills required from a General Counsel include- Judgement Decision- Making Understanding of law Conflict- Resolution Analytical Ability to use legal tools Legal strategy Verbal and written communication People management Leadership skills Partner / Managing Partner in Law Firms It’s a long journey to becoming a partner in the firm. Partners are responsible for leading, getting new clients and businesses, establishing a brand, and managing people in their team. Partners are also well compensated for depending on their financial performance and contribution towards the firm. Job responsibilities include, but are not limited to the following: Bringing onboard potential new clients through business development meetings To assure that there is effective delivery of the firm’s services to its clients and ensure the same in a profitable manner. Instituting organizational, financial, and operational strategies of the firm through strategic thinking. Creating revenue through client management. Commercial/Corporate Litigation Professional With the proliferation of tribunalisation of India’s legal system and with the enactment of multiple laws and regulators to govern these laws, there is a requirement for skilled, articulate, and knowledgeable advocates to appear before these regulators and courts of law. A successful career in litigation will ensure a handsome income as well as recognition from both judges and other advocates as an expert in corporate and financial law. On average the salary of a litigation professional is 4.5 lakhs per annum. The average salary ranges from 2.1 lakhs per annum to 10.6 lakhs per annum (Source). Some of the skills required from a litigation lawyer are- Legal aptitude Excellent verbal and written communication Legal Research People Handling Client Service Teamwork Analytical Data management
11 Oct 2022