<Strong>Team size:</srtong> Three

What are the most significant cases, projects and/or transactions that you and/or your legal team have recently been involved in?

Our team has worked on all legal aspects concerning the fund which involved more than 50 new and follow-on investments, a large number of exit and IPO related transactions, disputes and regulatory matters and other fund related work. Our team also leveraged technology and AI tools to deliver better outcomes.

In terms of one specific matter, we have worked on the legal restructuring (India redomicile) of Meesho US and subsequent listing of Meesho in India. This transaction involved analysing a wide variety of issues ranging from exchange control, merger process and filings and tax related issues. Subsequently the Company was listed in India and this involved again securities market regulations. The transaction also required coordination and transaction management with counsels in India and abroad.

How do you approach managing legal aspects during periods of instability or crisis to ensure the organisation’s resilience?

It is important to have systems and institutional knowledge in place to deal with any crisis situation. Crises often also require the management of different internal and external stakeholders, as well as effective communication and risk analysis. With over a decade at Elevation Capital, I have worked to develop the above in order to manage and address any instability or crisis that may affect the fund’s functioning.

Based on your experiences in the past year, are there any trends in the legal or business world that you are keeping an eye on that you think other in-house lawyers should be mindful of?

As a general matter, we have followed the evolution of technology, in particular AI-based solutions and outcomes, which help to improve efficiency and save time. It is also important to put guardrails in place around the use of AI within the legal department and to ensure appropriate oversight. In India, regulations have evolved rapidly across many sectors, such as exchange control and securities law, and it is important to keep the legal department up to date on these regulatory developments and related matters.

What factors influence your team’s decision to use external legal services versus handling matters in-house, and what criteria are used to evaluate their performance?

There are several factors that influence our team’s decisions on whether to use external service providers or to handle matters in-house. These include the size and complexity of the matter, as some transactions involve specialised areas such as competition law, intellectual property issues or litigation, where external expertise is required, and in certain cases may involve large due diligence exercises requiring sizeable teams. Another factor is the time required for deliverables. Given that we work on transactions requiring quick turnaround times, we sometimes find it more efficient to handle matters in-house, as fund positions are familiar to us and we can coordinate more effectively with internal stakeholders.

The criteria we use to evaluate the performance of external service providers include the provision of client- and business-friendly advice, adherence to timelines, effective communication and appropriate escalation of matters, transparent fee proposals, and the expertise of firms in handling a range of matters.

Looking forward, what trends do you foresee in the legal landscape over the next 5–10 years that companies should prepare for?

Over the next five to ten years, I foresee a significant increase in the use of legal technology and AI. The Indian legal market may finally be liberalised, leading to more partnerships with large international and Indian law firms. Routine matters are likely to be handled in-house rather than by external providers. There is also likely to be a further rise in alternative and online dispute resolution for the resolution of disputes.