From Medicine to Law: Pranav Srivastava’s Path to Excellence in Corporate Legal Practice

Introduction

Mr Pranav Srivastava is a distinguished partner at the Phoenix Legal’s New Delhi office, where he specialises in a diverse array of sectors including technology, life sciences, healthcare, infrastructure, power, oil and gas, and construction. His transactional portfolio includes cross-border investments, mergers and acquisitions, private equity, joint ventures, corporate restructuring, contractor appointments, and general contracting. In addition to his professional practice, he holds the position of Co-Vice Chair of the Young Lawyers Committee in the International Bar Association.

Q. 1 Can you share the pivotal moment or experience that made you realise law was your true calling despite your initial inclination towards medicine?

Both law and medicine were significant parts of my family background—law from my paternal side and medicine from my maternal side. Initially, I prepared for a career in medicine, driven by the inspiring medical professionals in my family. However, it did not take long for me to realise that my interests lay elsewhere. By a stroke of luck, I stumbled upon law. Despite it not being the most sought-after profession at the time (and was often seen as the last resort), I found myself deeply engaged and passionate about the field. The logical reasoning, critical thinking, and potential to make a meaningful impact on society resonated with me, solidifying my decision to pursue a career in law. The glitz and glamour of corporate law was icing on the cake.

Once I started practising law, it became clear to me that my aptitude was exceptionally well-suited for the legal profession. The use of logic and problem-solving resonated deeply with my natural inclinations. I found that each case, transaction, and negotiation was not merely work, but an engaging challenge that I was genuinely passionate about. The satisfaction of navigating complex legal landscapes, coupled with the opportunity to make a tangible impact on clients’ businesses, reinforced my commitment to the profession. This passion for law is what drives me to continuously seek excellence and remain dedicated to my work.

Q. 2 How did the educational environment and faculty at Amity Law School contribute to your legal education and professional growth?

Amity Law School provided a robust educational environment that played an important role in the start of my legal career. Most importantly, the flexibility the institution offered allowed me to participate in moot court competitions, undertake internships, and engage in various extracurricular activities, which, in my view, given the otherwise theoretical nature of the law school curriculum, are key to early development of skills of a legal professional. The entire management and faculty were focused on helping students achieve their true potential, understanding that as a non-national law school, we had to fend for ourselves. The supportive and encouraging culture fostered a sense of empowerment among students. Our seniors, already excelling in their careers, were deeply involved in the college and provided invaluable guidance to navigate our legal education and entry into the profession. This environment equipped us with the confidence and competence needed to excel in the legal field.

Q. 3 Tell us something about your journey at Phoenix Legal.

Joining Phoenix Legal as an intern during the 4th year of my law school, I was immediately impressed by the drive and passion amongst the firm’s partners and unwavering commitment to excellence and client service. Within a few days of joining Phoenix Legal, I was certain that this was the firm where I wanted to build my long-term career and where I saw myself thriving in the years to come.

From the outset, I was entrusted with significant responsibilities, which allowed me to grow rapidly in my professional capabilities. The work environment at the firm, combined with the mentorship from the partners, played an important role in shaping my legal career. I was promoted to partner in 2017 and joined the firm’s equity partnership in 2018.

One of the most rewarding aspects of my journey has been the opportunity to work closely with clients, advising them as an integral part of their team rather than just as an external advisor. We always strive to put ourselves in our clients’ shoes, making their lives easier by providing comprehensive support and ensuring that their interests are consistently protected. At Phoenix Legal, we do not sit on the fence; we jump right in, actively engaging with our clients’ challenges and goals to provide solutions that drive their success.

Moreover, my involvement with the International Bar Association (now as the Co-Vice Chair of the Young Lawyers Committee) has been greatly supported by Phoenix Legal. This role has allowed me to engage with the global legal community, bringing back insights and innovations to my practice.

In summary, my journey at Phoenix Legal has been a fulfilling experience, one that has not only honed my professional skills but also fuelled my passion for the law.

Q. 4 What drew you to specialise in sectors like technology, life sciences, healthcare, infrastructure, power, oil and gas, and EPC/construction?

I am generally driven towards advising on regulated sectors or deals and transactions that present a certain level of complexity. Anyone can advise on plain vanilla deals, but I believe I add the most value where things are somewhat more complex, and I am challenged intellectually. Technology, life sciences, and healthcare are at the forefront of innovation, constantly evolving and presenting intricate legal challenges. Similarly, sectors like infrastructure, power, oil and gas, and EPC/construction are critical to nation-building and require sophisticated legal acumen to navigate regulatory and commercial complexities. The opportunity to work on diverse and high stakes matters in these areas not only keeps me intellectually engaged but also allows me to contribute to transformative projects that drive progress and development.

Q. 5 Can you explain how tools like SCC OnLine or other legal research platforms played a role in this process and contributed to the successful resolution?

Legal research platforms like SCC OnLine and others have revolutionised the way we conduct legal research. These portals have transitioned us from the era of extensive libraries with thousands of books to having all necessary resources accessible on a laptop or even a mobile phone. They employ technology that runs on large volumes of data which is often curated by them and algorithms to help us navigate through information efficiently. However, there is still significant potential for these platforms to incorporate artificial intelligence (AI) to enhance their capabilities. AI can improve search precision and speed, provide predictive analytics, and offer deeper insights into case law, making legal research more efficient and effective.

Q. 6 Given the increasing utilisation of AI for due diligence reports by foreign law firms, and the deployment of AI tools like NaiDa and Kai by Indian law firms, how do you view the potential for AI to replace transactional work in the legal industry?

AI has the potential to enhance efficiency and accuracy in legal work. AI can analyse large volumes of data, identify patterns, and provide insights that are otherwise time-consuming and labour-intensive. AI tools can be valuable for automating routine tasks, but the nuanced negotiations, bespoke structuring, and professional judgment involved in transactional work will still require human expertise. AI could serve as a powerful complement to human capabilities, enhancing productivity, while the strategic elements of legal practice will continue to depend on experienced legal professionals.

At Phoenix Legal, we are also exploring AI applications to streamline our processes. While I cannot divulge specific details, I can assure you that we aim to be at the forefront of adopting technologies that enhance our capabilities, provided those technologies are compliant with the applicable regulations and do not compromise on quality and accuracy of our work or confidentiality of our clients’ data.

Q. 7 What continuous learning and professional development activities do you engage in to stay updatedin your field?

The best learning comes from doing, and I strive to take on more work to continuously enhance my own and my team’s skills and knowledge. Our hands-on approach has been instrumental in helping us become better corporate lawyers each day. In addition to this, I actively engage in various continuous learning and professional development activities. These include attending industry conferences and participating in workshops and seminars to deepen my knowledge in emerging areas of law.

I am also involved in the International Bar Association as the Co-Vice Chair of the Young Lawyers Committee, where I contribute to organising and speaking at events that address contemporary legal issues. Additionally, I regularly read legal journals, publications, and law updates to stay informed about the latest developments. Mentoring young lawyers and engaging in pro bono work further enriches my professional journey, providing opportunities to learn from diverse experiences and perspectives.

Q. 8 What practical advice would you give to law students and freshers who are passionate about commercial law and are seeking to follow your career path?

Here are the key points for them to bear in mind:

Mastering the basics of law and staying updated with the latest developments in the field are important. Do not underestimate the value of your legal education in college or the importance of core subjects such as constitutional law and contract law, even if you plan to specialise in a specific area of law. A strong foundation in these fundamental subjects will equip you with the essential skills and knowledge necessary to become a competent corporate lawyer.

Gain practical experience and engage in co-curricular activities. Seek internships and training opportunities at reputable law firms to gain hands-on experience and understand the practical aspects of legal practice. Engaging in moot court competitions and other co-curricular activities is equally important, as they help build strong legal skills, including drafting, articulation, and legal research. Given the theoretical nature of our education system and its focus on rote learning, these co-curricular activities play a critical role in bridging the gap between academic knowledge and practical application. They provide an opportunity to apply theoretical concepts in real-world scenarios, thereby enhancing your overall legal acumen.

Hard work is key. There are many alternatives to Harvard, but none to hard work. Dedication and perseverance are essential to success in any field, including corporate law.

Critical thinking and attention to detail. Developing strong critical thinking skills is essential for practising law. Critical thinking involves analysing information objectively and making reasoned judgments. In legal practice, this means being able to dissect facts, apply legal principles, and foresee potential issues before they arise. Critical analysis also means assuming everything you read is wrong until you prove to yourself, through detailed research, that it is right.

Attention to detail is equally important; it ensures that nothing slips through the cracks, which is important when dealing with legal documents. This meticulous approach safeguards against errors and omissions that could have significant consequences. Ultimately, this attention to detail and commitment to thorough analysis underscores the fact that there is no substitute for hard work in the legal profession. Dedication to these practices will equip you with the skills necessary to excel as a lawyer.

Stay passionate and love the law. Staying passionate and nurturing a love for law is key for a successful legal practice. Passion fuels perseverance, enabling lawyers to tackle challenging cases with enthusiasm and resilience. When you are passionate about law, you are more likely to engage deeply with your work, continuously seeking to improve your skills and knowledge. This dedication not only enhances your legal acumen but also translates into better client outcomes, as you are more committed to finding the best solutions. Furthermore, a genuine love for the field keeps you motivated during difficult times, helping you navigate the inevitable pressures and demands of legal practice.

Any profession takes a part of your life, but law literally takes all of it. If you do not love it, you will have a miserable life as a lawyer. The long hours, intense scrutiny, and constant need for precision require a deep-seated passion to maintain a positive and driven attitude. By maintaining this passion, you ensure that your career is not just a job, but a fulfilling journey, which is essential for long-term success and personal satisfaction in the legal field.