This interview has been published by Namrata Singh and The SuperLawyer Team
Can you share with us how you began your career in law and company secretarial work? What inspired you to enter this field, and how did you progress to your current position?
Interestingly, my journey towards becoming a legal counsel and law professional started accidentally. When I was in college pursuing my B.Com, I aspired to become a Chartered Accountant. To gain some working experience before enrolling in CA, I joined an organization to work in the accounts function after completing my B.Com. There, I met the Company Secretary and Legal Counsel, and I was impressed by their role, interacting with top management, handling significant matters, and sitting in board meetings. I was fascinated by that role and, instead of CA, I joined the CS course.
However, as fate would have it (and I believe that destiny plays a very important role in our lives), after becoming a Company Secretary and joining an organization as CS back in the early 90s, I was given the charge of the legal function as well. Since CS work also involves a lot of legal and compliance responsibilities, I was happy to take on this additional role. That’s where my journey as a legal counsel began, and I later completed my graduation in Law as well.
Since then, I have always worked as a legal counsel or legal head, mostly in-house. It’s been around 30 years since I took on these roles, working with different Indian and multinational organizations. From the moment I was first given charge of the legal function, I realized that this was what I always wanted to do. Initially, I gained exposure in litigation, then contracting, followed by IPRs, brand protection, and all other related fields, including compliance and risk management. Of course, I have continued my role as a Company Secretary and take pride in that.
The past three decades have flown by like it was yesterday. Presently, I am the Sr. Vice President and Head of Legal at UFlex Ltd., a multibillion-dollar organization and India’s largest multinational flexible packaging and solutions company. UFlex manufactures a wide variety of flexible packaging films for various industry sectors across the world. With headquarters in Noida (National Capital Region), the company has packaging films manufacturing facilities in India and overseas under the global subsidiary packaging films brand ‘Flex Films’ in UAE, Mexico, Poland, Egypt, Russia, USA, Hungary, and Nigeria, with a cumulative capacity of over 609,000 TPA.
Can you share some of the most challenging legal cases or compliance issues you have faced and what you learned from those experiences? Additionally, what are some emerging trends in the legal field that you believe will shape the future of corporate law and compliance?
Data privacy is an important legislation that has a significant impact on all organizations. Cyber risk is another area that requires serious monitoring, review, and an effective framework. Additionally, SEBI’s existing and upcoming regulations and compliance on Responsible Business and Sustainability have brought ESG and sustainability to the forefront of all organizations. This is beneficial not only for the organizations but also for the nation and the world as a whole.
During your tenure at DCM Shriram Ltd., you held the position of VP (Corp. Law) & Company Secretary for almost a decade. What were some of the key achievements and challenges during this time?
In the last ten years, particularly after the new Companies Act and new SEBI regulations, the role of in-house counsel and company secretaries has significantly increased and become very challenging. Compliance with SEBI Listing regulations, SEBI (Prohibition of Insider Trading) Regulations, FEMA compliance, Companies Act, and other corporate compliances require constant attention and a high level of proactiveness. Shareholder governance has also become a new challenge, with shareholder activism on the rise in India. This is beneficial for both the company and the shareholders. Therefore, providing appropriate and accurate disclosures with all relevant information to shareholders and the public has become a priority in governance today.
Compliance and governance of insider trading and SEBI regulations are complex and challenging roles that require a proactive approach, including regular awareness sessions and training for employees and other connected persons. As we operate multiple businesses, each with its own dynamics, this is crucial.
Outside of your professional life, do you have any hobbies or interests that you are passionate about? How do they help you maintain a work-life balance?
I am very passionate about golf. Every weekend starts with a round with friends. I am truly in love with this game and can’t imagine myself without it. Golf is purely a mind game and teaches you a lot of life lessons. Playing twice or thrice a week is a must for me. If I don’t play in any given week, it feels incomplete. This game not only relaxes and recharges me but also reveals one’s true character on the course. Golf is the best thing that has happened to me, and I could talk about it for pages.
As a visiting faculty and guest lecturer, what topics do you find most crucial to impart to your students? How do you ensure they are prepared for the evolving legal landscape?
I usually teach corporate laws, IPRs, labor laws, and data protection. However, today’s generation needs to be fully geared up with technology in legal, what we call Techlegal. This is the time of AI, ML, and GenAI, and routine tasks will increasingly be handled by technology. To excel in the field, students need to be proficient with technology and demonstrate creativity and new ways of working.
For students and young legal professionals trying to decide between pursuing a career in litigation or as an in-house counsel, what advice would you give to help them understand which area might be the best fit for them?
I think both have their taste. It depends on what is of your interest. However, in both situations, my advice to youngsters is – Be yourself – You are what you are – be original and don’t copy anyone. You are unique and have your personality. Find yourself to the optimum. Of course, there are many things one should learn from the seniors and other leaders that should be part of your development and increase your skillsets but don’t lose your originality, no one can replace you. Further as a career advice, since we are today living in a dynamic time and things are changing so fast that by the time you get to the details of a thing the new version or new avatar is already there. Therefore one needs to get to speed with this. Technical competency is mandatory but being proficient in technology is the need of the time as we are already in the era of AI, M, and Metaverse and it’s a reality. Keeping yourself updated with the time is crucial for the counsels to be successful. The other two most important things – one they should understand the business first before they advise and the second is the quick responsiveness and proper research.
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