Universal Legal and IC Legal terminate a seven-year association
In a strategic move aimed at enhancing specialization and addressing the growing demands of the financial sector, Indian law firm IC Legal has launched a new entity, IC RegFin Legal. This new division will focus on financial services and regulatory law, marking a significant step in the firm's growth and development.
IC RegFin Legal will concentrate on providing tailored advisory services to financial institutions and regulatory bodies, while maintaining a dedicated focus on key areas such as alternative investment funds, mutual funds, foreign portfolio investors, SEBI-regulated intermediaries, financial litigation, GIFT City regulations, and exchange control laws. The new entity aims to boost operational efficiency and deepen sectoral expertise, positioning itself as a go-to legal partner for clients seeking focused expertise in financial services and regulatory law.
The decision to establish IC RegFin Legal as a separate entity follows IC Legal's consistent leadership in the Indian market across these key areas. IC Legal, founded in Mumbai in 2004, initially focused on real estate, media, and litigation. Over the years, the firm has evolved into a leading player in financial services and regulatory law, earning a reputation for its expertise and compliance capabilities.
Meanwhile, IC Legal's former joint managing partner, Tejesh Chitlangi, has taken the position of managing partner at IC RegFin Legal. This strategic move is expected to further strengthen the new entity's focus on financial services and regulatory law.
In a related development, Universal Legal, another first-generation, full-service law firm initially based in Bengaluru, has rebranded as Chugh Universal Legal. IC Legal and Universal Legal had merged in September 2017 to form IC Universal Legal, a full-service law firm with over 100 lawyers across several cities. However, the two law firms have decided to operate independently after a joint partnership of over seven years under the brand IC Universal Legal.
Universal Legal, founded in 2004, expanded to Mumbai and built a global affiliate network spanning cities like London, New York, San Francisco, Singapore, Dubai, and Russia. The firm will continue to operate independently, offering a comprehensive range of legal services.
As the financial sector continues to evolve, with increasingly complex regulatory requirements, law firms are increasingly creating separate specialized units to meet these challenges. Such strategic separations help firms enhance specialization, manage regulatory risks better, and attract clients seeking focused expertise in financial services and regulatory law.
For more authoritative information regarding IC Legal's decision to establish IC RegFin Legal, it is recommended to check IC Legal’s official announcements or press releases directly.
IC RegFin Legal will offer specialized advisory services to financial institutions and regulatory bodies in areas like alternative investment funds, mutual funds, foreign portfolio investors, SEBI-regulated intermediaries, financial litigation, GIFT City regulations, and exchange control laws. This new entity aims to improve operational efficiency and strengthen its focus on financial services and regulatory law.
