Interviews

“Exposure to a diverse set of clients and sectors provides much needed agility and flexibility that is required in today’s world of technological and socio-economic disruptions.” –  Siddharth Ratho, Vice President and Head of Litigation at  Nuvama Group.

This interview has been published by Anshi Mudgal and The SuperLawyer Team

Can you share the pivotal moment or motivation that inspired you to pursue a career in law, and how that decision has shaped your professional journey?  

Growing up, I wanted to be many things. At different points, I was certain I wanted to play cricket for India, be a pilot, architect, astronaut, historian etc. I liked science, math, and humanities. I also loved sports and music. My parents allowed me to dream and never really tried to influence me towards a particular profession. I perceived the world as my oyster in an ocean of possibilities. 

After finishing my high schooling in India, I went on to pursue my undergraduate studies in the USA from 2007 to 2011, with a full scholarship, double majoring in Economics and International Relations and minoring in mathematics. 

Shortly after arriving in college in the US, the global financial crisis hit, with ripple effects felt all over the world, lasting over half a decade. Businesses went insolvent overnight, and tons of people lost jobs. Multiple lawsuits were filed, massive legal battles initiated, and a lot of discourse on what went wrong and who was to blame. While studying international political economies, foreign affairs, corporate finance, and many other fascinating subjects offered by my liberal arts college, I slowly but surely also started developing an interest in law. 

After finishing my stint in the USA, I came back to India and pursued the three-year law degree at Government Law College, Mumbai. GLC allowed me to intern in a lot of great law firms while also pursuing my LLB degree. 

The rest, as they say, is history! 

You are a dual-qualified lawyer, both as an Advocate in India and a Solicitor in England and Wales. Do you think this dual qualification has given you a unique advantage in your career? If yes, how has it shaped your professional approach, and what kind of legal professionals do you think should pursue this path?  

Having studied abroad early in my life, I always knew that I would never want to be limited by borders. 

The first five years of my law career were spent at Nishith Desai Associates, where I was involved in several complex, cross border disputes spanning multiple jurisdictions. Even during my later stints at CAM and Trilegal, I was part of several foreign seated arbitrations in Singapore, London, Paris, New York all with their own challenges and nuances. 

Getting a dual qualification in this increasingly intertwined world and given how my career had begun seemed like the way to go. So, I started looking up options. 

At the time, the route to qualification as a Solicitor in England and Wales was known as QLTS. Nowadays, it is known as the SQE route. Pertinently, this route did not require you to compulsorily do an LLM in the UK and spend tons of money. It only required you to ace the two stages of the QLTS exams. The fact that English law is the most used law in multi-jurisdictional transactional documents was another factor in me choosing English law. It also certainly helped that English jurisprudence has developed for almost a millennium, ever since the Magna Carta, and is the genesis of the common law system as we know it today. So, choosing English law was a no brainer.  

Studying for the qualification and dealing with the exam format (first stage in India and second in London) was an absolute pleasure. While my experience in some of India’s best law firms has taught me a lot, the rigour of the English law qualification exams truly took my skills and understanding of the first principles to a whole new level. As a newly minted “international lawyer”, I started seeing legal problems with even more clarity. Dissecting complex contracts became simpler. Deconstructing multi-jurisdictional legal quagmires, easier.  

I don’t know whether the “dual qualified” brand by itself has given me any specific advantage in my career yet. However, it has certainly advanced my knowledge and better equipped me as a “global lawyer.’ 

I see that a lot of young lawyers today want to pursue this dual qualification immediately after graduation. I would strongly advise that initially, young lawyers should focus on learning the basics before trying too much “fancy stuff”. Priority should be to get 8-9 years of work experience. Learn as much as possible. See where your career is going, and then do it, if you think it would help you in your line of work.

Doing it with the expectation of some immediate gains may only disappoint you. 

Do it as a quest for knowledge, and to challenge yourself, if you must. 

Looking back at your experience in international arbitrations under various institutional rules (SIAC, ICC, LCIA), what have been your key learnings, and how do these frameworks differ in practice?  

All these international arbitration institutions essentially follow the common principles of ensuring efficient, effective and swift arbitrations, managed in an extremely professional manner. Each rule comes with its own nuances and options offered. Diving into these nuances is an entire subject on its own. All of them offer some of the most advanced features and cutting-edge global practices in arbitration. 

My experience in such arbitrations has given me firsthand experience and knowledge in arbitration’s global best practices.  

I must mention that I have also done several Indian institutional arbitrations. The facilities and features that they have to offer these days are up there with the best in the world, are far more cost effective, and deliver equally efficient results. 

What motivated your transition from starting off at law firms initially to becoming the Head of Litigation at Nuvama Group? 

I have spent over a decade in some of India’s best law firms –have had some great mentors over the years, and the experience of some incredible matters along the way. I did not really have a pre-set plan to shift to a corporate in-house role. However, I had noticed of late that more and more companies were seeking to strengthen their legal teams and onboard talent. So, I was never averse to the idea if the right opportunity came along the way. 

When this opportunity arose, I could not resist – a challenging role with a great profile, in an exciting and fast-growing industry. Also, I am truly dialled into the India economic growth story. The wealth management and financial sector in my opinion is going to be a front-runner in India’s quest to become an economic superpower this century. Also, I read up about Nuvama and was bought into its mission, vision and culture of excellence. It seemed like an ideal next step in my career where I could also use my multidisciplinary educational qualifications, my keen interest and knowledge in economics and finance, to add value in an exciting company making strides in a cutting-edge sector. 

How did your experiences in law firms shape your approach to leading a corporate legal team?  

My experience at India’s premier law firms helped me form a sound legal knowledge base, learn high level legal skills and put them into practice. It also instilled in me essential attributes, such as discipline, work ethic, attention to detail and the ability to perform under pressure. 

Leading a function in a company requires clever use of “EQ’ along with “IQ”, understanding and coordinating between various functions and finding practical and strategic solutions to the every-day problems faced by companies in highly regulated sectors through a collaborative approach. Having a sound legal knowledge base and sharp skills is very important. You are required to make tough decisions every day to mitigate potential liabilities and protect the company. You may not always have time to do the necessary research and then come back with an answer. Businesses cannot wait too long for answers and solutions, especially in a fast-paced and fast-growing sector.

You are put under the spotlight almost every day and you need to perform with alacrity. You need to provide solutions immediately.  If you do not have strong legal principles and skills to back you up, then you will not be able to do the  firefighting that the company requires you to do. 

It’s been about five months since you transitioned to the corporate world with Nuvama Group. How has your experience been in adapting to the corporate culture compared to your previous experiences in law firms? Do you feel more aligned with the corporate side, or do you still lean towards the law firm environment, and why?  

These five months have added a whole new perspective in my approach as a legal professional. I can now see how businesses perceive law firms. Having seen both sides, I am able to identify the gaps in terms of what law firms have to offer, and what businesses truly desire.  

In terms of pure work environment, one refreshing difference for me is the variety of people with different educational backgrounds and qualifications that you are surrounded by. In law firms, you are surrounded by mostly lawyers. In my current role, I am interacting with MBAs, CFAs, CAs etc every day.  

It’s too soon to say which side I am more aligned to. There is a lot to learn from both sides. What I can certainly say is that these five months have been the most unique in my work experience so far as this is the first time I am working somewhere which is not a law firm. What I have learned in these five months, I haven’t in my decade long experience in law firms. So, I am already a better lawyer now than I was five months ago along with the added wisdom that new and unique experiences and challenges provide.  

I believe every lawyer should experience both sides at some point. 

With your unique experience across both Indian and international legal landscapes, how do you perceive the evolving role of technology in dispute resolution, particularly in areas like international arbitration and commercial litigation?  

One of the main concerns for businesses, while dealing with legal issues, is the costs involved. Technology is already doing a lot in terms of reducing legal costs. Hearings can happen over VC reducing travel costs. The use of technology in online dispute resolution is also quite promising. 

Technology will further reduce “billable hours” by using AI to accomplish various more monotonous legal functions. Gone are the days when a law firm could charge a business endless hours for “research” and basic drafting and documentation work. 

As technology improves, arbitrations and commercial litigations will continue to become more and more efficient and cost-effective.  

In the future, technology and AI , through objective cost-benefit analysis, will help businesses assess whether it is worth fighting a case or merely settling a case through mediations. 

The possibilities are endless. 

You’ve worked on cases spanning sectors from fintech to renewable energy. How has this diverse exposure shaped your approach to problem-solving, especially in legal situations requiring cross-sectoral knowledge and multi-jurisdictional strategies?  

This is another major advantage of starting off your legal career in law firms. You get to work with a diverse set of clients from various sectors. Legal solutions cannot always be black and white. A solution should be practical and enforceable. To be enforceable, they must account for practical realities. To understand these practical realities, it is important to understand the nature and characteristics of the business and the sector that you are dealing with. 

Exposure to a diverse set of clients and sectors provides much needed agility and flexibility that is required in today’s world of technological and socio-economic disruptions.  

You have represented clients in high-stakes disputes across various forums, including the Supreme Court and High Courts. What advice would you give young lawyers aspiring to excel in the legal field?

Getting the basic habits right very early on in your career is most essential. Be disciplined, have a good work ethic and be an eager learner. Keep yourself up to date with the latest laws, regulations and judgments. 

Particularly, young lawyers should note that legal drafting is one of the most difficult skills to acquire. And this skill comes only through practice. So, take up as much drafting work as you can early on. If you are good at drafting, you will eventually get noticed. 

As a lawyer, the art of using language is your main weapon. As they say, the pen is mightier than the sword. This is your bazooka! So, hone it as much as you can. 

Importantly, young lawyers should be aware that there will be a lot of ups and downs early on in their careers. So, keep your chins up, always find time to unwind and have a good time. Meet friends often and shut off work once or twice a week. 

What hobbies or passions do you pursue outside of your legal career, and how do they help you unwind and maintain a healthy work-life balance?

I am a cricket fanatic. However, it is difficult to gather a group of friends all the time to play. So, squash is something I have been playing frequently. I also try and ensure that I put in at least 4-5 rigorous work out sessions in a week. Being physically fit goes a long way in reducing the mental stress at work. It also helps in keeping negativity at bay and getting the positive juices flowing.

Apart from this, I like listening to music and watching shows and movies on OTT platforms. 

Having a good work life balance is the most important. No point working hard and for that extra bonus, if at the end of the day, you do not feel mentally and physically at ease. 

Work smart, play hard and try and get sufficient down time. 

Get in touch with Siddharth Ratho-

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