Clasis Law’s Ishtiaq Ali, Damodar Rao form breakaway with Reliance Ambani GGC, Venkatarao Ponnada; Orbit Law Services opens offices in Bombay, Delhi

Clasis Law Partners’ Ishtiaq Ali and Damodara Rao have left the firm to set up ‘Orbit Law Services’ along with Venkatarao Ponnada, former Group General Counsel of Reliance Anil Ambani Group. The new firm has two other Partners – Delhi based litigation lawyer Saad Shervani, and Karuna Kumar, an employment and service lawyer based in Mumbai.

Orbit Law Services, a full service law firm focusing on the project finance, corporate, infrastructure, banking and finance, Islamic finance, has a team of 15 lawyers including the five partners with its offices in Mumbai and Delhi.

Ishtiaq, who heads the Project Finance practice at Clasis, said that,

“The partners of Orbit Law Services were looking at undertaking an entrepreneurial initiative focused on the growing opportunities within India due to political and economic developments within the country and India needs more professionally managed law firms to meet the demand of legal services at reasonable cost.”

Ishtiaq also said that that Orbit Law Services would be registered as an LLP to provide more opportunities for lawyers looking to join Orbit Law Services. With regards to the firm’s structure, Ishtiaq said that Saad Sherwani would be based out of Delhi while the other Partners would divide their time between Mumbai and Delhi.

Commenting on the departure of two Partners, Clasis Law’s Vineet Aneja said, “

We wish the best for Ishtiaq or any departing partner. Mumbai remains an important location for Clasis Law and we will soon be following through our strategy with appointments in due course of time.”

Recently, Clasis Law Senior Partner Sakate Khaitan, along with three Senior Associates Radhika Iyer, Sangeeta Jhunjhunwala and Satyendra Shrivastava, had left the firm to set up ‘Khaitan Legal Associates’.