Lex Favios: One-stop solution for corporate’s legal and advisory needs
In terms of the entrepreneurial ecosystem of India in the present date, the legal fraternity remains a competitive space. Lex Favios was set up by Sumes Dewan (Founder & Managing Partner) in the year 2014, after spending 18 years with the larger law firms in India. Lex Favios is a full-service law firm with office(s) in Delhi and Mumbai. Lex Favios offers a wide spectrum of services from corporate advisory to litigation, offering services ranging from real estate, hospitality, banking & finance, dispute resolution, insolvency. The firm has a team of 25 lawyers.
For a young and dynamic Law Firm like Lex Favios, smooth functioning and momentum gaining is a phenomenon of exemplary efforts, with each senior member’s vision culminating into a plan for execution. Growth plans are regularly reviewed, and members of the Firm are encouraged to take a proactive role in the activities related to legal discourse and writing articles for different forums. The Firm’s advisory board is comprised of eminent persons from various walks of life. The Motto of the Firm is that ‘Success comes only through the consistent, persistent and massive amounts of action over a prolonged period of time.’
Solutions and Differentiators
Lex Favios provides a one-stop solution for all legal issues and queries that includes assisting corporates in establishing a business in India, handling joint venture/collaboration negotiations, setting up investment funds, undertaking risk assessment, vetting M&A contracts. The Firm’s dispute resolution team address issues pertaining to litigation, arbitration, and insolvency matters.
Lex Favios, being a relatively younger Law firm, has had to face congruent challenges like any other young entity entering the big leagues. These challenges were overcome by enhancing capabilities and earnest enthusiasm for growth, and steadfastly forging newer and stronger professional relationships.
The Key Ones
Big fish eats small fish- Young entities entering in a big pond will always face the predatory behavior of large ones, Lex Favios overcomes this challenge by forging an alliance with international legal network of firms (Legal Netlink Alliance), and with regional law firms in India & internationally.
Alternative billing models – Law firms are being pressured to rein in legal cost which has forced firms to adopt alternative billing models such as fixed, blended or capped fees instead of the traditional billable-hours model.
Specialization – Specialization is the need of the hour. The Firm has stuck to its traditional core areas, whilst also catering to the demand of the new industries such as bankruptcy and insolvency, competition law, and data protection law.
Talent Retention– Young firms always struggle with the brain-drain of talented lawyers to the larger firms having deeper pockets. To retain the talent, the Firm invests in legal training and constantly strives to ensure a conducive atmosphere.
Dreams for the road ahead
Like any other firm, Lex Favios too endeavors to accomplish high growth, and in order to do so, the Firm became a member of an international alliance of law firms in USA and Europe, the Legal Netlink Alliance. The Firm has added new areas of practice such as insolvency laws, and pharmaceuticals and scaled up its banking and finance practice. The combination of tying up with regional firms, having synergies with global law firms, creating new areas of practice with sector-specific experts would take Lex Favios to the next level. The Firm’s dream is very much aligned with the founder’s vision, which is to set up an institution which not only advises clients on legal matters but also becomes an exemplary institution in the legal fraternity.
The Firm is enviably empaneled with organizations such as the State Bank of India, Steel Authority of India, Yes Bank, and represents clients such as Inter-Continental Hotels Group, Accor Group of Hotels, Marriot Hotels, Carlson Hotels, Engineers India Limited, Godrej Consumer Products Limited, JCB India, and Vastu Housing Finance amongst others.
Lex Favios, through its unrelentingly high quality of work, managed to achieve various milestones, each of which has spurned them to excel further. Some notable ones are: The Indian National Bar Association awarded Lex Favios the ‘Capital & Finance Market – Law Firm of the Year’ award in 2016, India Business Law Journal awarded the Firm the ‘Best New Law Firms’ award in 2016 and has consecutively received IFLR1000’s award for the Financial and Corporate Notable Firm in the IFLR1000 2017 and 2018 rankings. India Business Law Journal identified Lex Favios as one of India’s rising law firms in 2017.
Key transactions of Lex Favios include, advising Alstom Bharat Forge Power in the four-bank consortium providing working capital facilities of US$450 million; InterContinental Hotel Group for a deal to re-brand 14 hotels across 2000 rooms for Holiday Inn Express brand across India; JV on behalf of Junga FreshnGreen Private Limited to develop a Hydroponics facility in India, legal counsel to Mushtaq Group of Hotels and assisted in negotiating seven hotel operating contracts with the Carlson Rezidor Hotel Group in Kashmir.
Mr. Sumes Dewan, Founder & Managing Partner –Lex Favios is headed by Sumes Dewan, who is one of few lawyers in India to be admitted as an Honorary Fellow of the Association of Fellows and Legal Scholars, Center for International Studies, and Member of Congress of Fellows of the Center for International Legal Studies. With over 20 years of experience in M&A transactions, Private Equity, Banking &Finance, Hospitality sector, Sumes has won many awards and accolades for his work. Further, Sumes heads the Delhi Chapter of the Indian Lawyers Association (ILA). Sumes Dewan has been named in Asia Law’s Leading Lawyers as one of the most highly-acclaimed legal experts in Asia-Pacific region in the practice area – Capital Markets & Corporate Finance.
Mr. Indranil Ghosh – The Litigation Practice at Lex Favios is headed by Indranil Ghosh who has extensive experience in acting for clients before various forums including the Supreme Court, Delhi High Court, Commissions and Tribunals. Mr. Ghosh has been nominated as “The International Who’s Who of Commercial Litigators 2007”, and has won the Queen’s Award, Asia Law leading Lawyers in the field of Dispute Resolution by Asia Pacific Lawyers and the Scroll of Honour for the year 2009 presented by International Council of Justices.
Ms. Rupul Jhanjhee – Rupal Jhanjee heads the Banking and Finance Practice of the Firm. She is an advocate and member of the Institute of Company Secretaries of India, and her key areas of practice includes advising banking institutions on issues pertaining to Banking and Finance Laws, Corporate Laws, FEMA Regulations, and Property Laws.
Mr. Rakesh Sharma – Mr. Rakesh Sharma is a leading expert in the field of government and regulatory affairs. He has a wide-ranging leadership experience of over 30 years with Fortune 500 companies, covering a broad spectrum of consultancy assignments in the field of regulatory affairs, government affairs. He has been associated with Ministry of Health / Office of Drug Controller General of India.
Ms. Palak Sehgal – Ms. Palak Sehgal’s practice area primarily covers Corporate Commercial, Mergers and Acquisitions, and General Corporate Advisory. Her experience includes advising on multiple transactions such as acquisition of Indian companies, issue and listing of FCCBs, and real estate due diligence for the hospitality sector. She has played an instrumental role in drafting and negotiation of transaction documents for a number of Joint Venture collaborations.
Mr. Varun Narad – Mr. Varun Narad’s practice area covers Commercial, Real Estate, Banking and Real Estate. His experience includes advising on various aspects such as acquisition of Indian companies.
Lessons learned until now & Advice for young entrepreneurs
After spending eighteen years with different law firms, Sumes took the entrepreneurial route with the intention of moving from the family law firms. In India, whether it is judiciary or law firms, the control of the ‘Holy Family’ is pervasive. The same allows very little space for new ideas or a chance to be an actual part of law firm management or governance. Sumes, in his journey, has learned bitter-sweet lessons, he believes in the consequence of actions and taking charge. His advice for the next generation is to understand the importance of the merit of hard work, perseverance and human relationships.