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IC Legal, Advocates & Solicitors, and Universal Legal, Attorneys at Law, have entered into an agreement to merge and operate under a new identity — IC Universal Legal, Advocates & Solicitors (ICUL) — effective from Thursday.
A statement from the legal firms said ICUL will strengthen client offerings as well as practices and industry capabilities with a team of over 100 members, including 15 Partners and seven offices across India.
It will have a presence across the major cities in the country and affiliate offices in the US. The full merger in terms of the books of accounts is currently under way, it said.
Universal Legal had commenced operations in 2004 and has, over the past 13 years, expanded its presence across India. The firm is affiliated with Chugh LLP, a US-based firm of lawyers and certified public accountants. Through this affiliation, Universal Legal says it has been one of the forerunners in capitalising on the information technology era through the India-US IT Corridor. The firm represents several top tier companies and funds and has been counsel on some of the largest transactions in varied verticals such as energy, pharmaceuticals, healthcare, micro finance and IT/ITES.
The statement further said IC Legal’s clientele includes the majority of top 20 Indian financial services groups. It has maintained more than 20 per cent share in the investment funds structuring/formation space, whilst also advising the majority of the top 10 Indian mutual funds. The firm was set up in 2004, initially with a focus on real estate, media and litigation and thereafter financial advisory services.
Universal Legal's Managing Partner Partha Mandal said: “There are excellent synergies between the two firms, and integrating the practices has opened up a much bigger platform for existing and future clients, making it a powerful combination”.
IC Legal’s Managing Partner Bheru Choudhary said: “This forward looking tie-up provides seamless legal and regulatory services to our clients and creates a full-service law firm.”
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