You reach your dream destination successfully if you begin at the perfect inflection point in your life. Or if you are inspired to know early on exactly where you want to go with your career. For, Shagun Badhwar, Counsel at AZB & Partners, her inspiration to enter the legal field stems from her childhood aspiration of becoming a lawyer. “For as long as I remember, I thought of being a lawyer even though I do not come from a family of lawyers – except my aunt, who is of course a huge inspiration even today,” she says.
Most aspiring lawyers join legal internships during law school. Shagun’s first legal internship was when she was in high school, in the tenth grade. The students were asked to consider what they wanted to do in the future and work towards that goal in the summer. “My first choice then was law. I interned with a litigation lawyer for about two months in 2003, and I suppose that paved the way to where I am now, even though I chose a different practice area (corporate law instead of litigation). Then, and even now, law as a career option seems like the right fit, because it compliments my personality (analytical, rational, critical, logical, and creative), and keeps me motivated, as it allows me to believe I have a chance to make an impact daily. That to me is imperative, as otherwise, it can be difficult to sustain this, or any, other profession, in the long term.”
She always knew she wanted to make a difference in this world, regardless of how small (ideally big). “We all want to change the world and make a difference, for the better, one step at a time. For me, this was my first baby step, and hopefully, there are many more steps to go,” she says.
An Ideal Impact
And what a significant difference she is making by practicing in the corporate advisory team at AZB & Partners and solving and/or advising on a variety of legal issues for both corporate clients’ and not for profit entities. She has over a decade’s experience in advising multinational organizations on how to best structure their business operations/investments in India, as well as advising them on their day-to-day legal, regulatory, and ethics and compliance issues. She advises domestic and global clients on laws relating to foreign contributions, labour laws, cryptocurrency regulations, data privacy, and other business practice areas. “Our clients include global charities, blockchain companies, cryptocurrency exchanges, intermediaries, e-commerce companies, etc.,” she informs.
Her professional career began after she received her education in LL.B. Campus Law Centre, Faculty of Law, the University of Delhi – (2009 – 2012), B.A. (Honours) in Political Science – Jesus and Mary College, the University of Delhi – (2006 – 2009), and her primary and secondary schooling from Vasant Valley School – (1993 – 2005).
In 2012, just after her LL.B., she enrolled as an Advocate with the Bar Council of Delhi. She started her career as an Associate, at LexCounsel, Law Offices from January 1, 2013 – September 6, 2015; and thereafter she joined AZB & Partners, Delhi on September 14, 2015. She became a Senior Associate, at AZB & Partners, Delhi on October 1, 2018, and a Counsel in April 01, 2022, to present.
The Saga of AZB & Partners
Shagun says that AZB & Partners (the ‘Firm’) was founded in 2004 with a clear purpose to provide full–service advice to clients, across all sectors. The Firm brought together the practices of CZB & Partners in Mumbai and Bangalore and Ajay Bahl & Company in Delhi. The Firm has grown steadily and now has offices in Mumbai, Delhi, Bangalore, and Pune.
The Firm is one of the prominent law firms in India and provides advice based on an in-depth knowledge of the legal, regulatory and commercial environment within which our clients operate and a full understanding of their overall, long-term business objectives.
According to Shagun the legal services they provide cover these corporate, commercial, regulatory, financial, and tax planning aspects. The Firm practice areas include mergers and acquisitions; joint ventures and general corporate, infrastructure, and project finance; real estate; regulatory practice and securities laws; private equity and capital markets; funds practice; social venture investments; banking, finance, and microfinance; derivatives, and litigation.
Her Constant Journey through the Learning Curve
Reflecting on the challenges she faced while entering the legal field and comparing them to the challenges of today, Shagun remembers that fresh out of law school, “I think the biggest challenge was finding a law firm that is right for you. At that time, one is willing to settle for any opportunity that comes your way and that may not be ideal. I strongly believe that the first few years lay the foundation for the rest of your career and the learning curve is at its highest so one must choose sensibly.” For her, in hindsight, after an initial couple of hiccups with interviews that did not work out, she feels it all fell into place the way it was supposed to, as she accepted her first job offer at LexCounsel, Law Offices. She was fortunate to work there for almost three years with some great lawyers and even better human beings. “I truly believe I am where I am because of their guidance and support. People often say that the “firsts” in life are always special – I am glad my “first” job lived up to that standard!”.
The challenges completely change once life in a law firm begins. As with most careers, the learning continues – like building blocks. It is a journey, not a destination. It’s about perseverance and creating and nurturing the relationships in your life that matter (personal and professional). And yes, this cannot be emphasized enough, maintaining a healthy work-life balance. This is a constant struggle, irrespective of where you are in your career.
An Adept Counsel
Briefing about the various or specialized legal offerings, solutions, or services that she provides to her clientele, Shagun says the sector-specific sample of her practice areas includes,
*Corporate: Advise global charities, including structuring/ restructuring their operations in India, in light of the Foreign Contribution Regulation Act (including registration, compliance requirements, reporting, penalties, etc.), exchange control regulations, laws on the protection of children in India (POCSO), and the Companies Act, 2013, including the corporate social responsibility compliance.
*FinTech and Digital: Advise blockchain companies and cryptocurrency exchanges on the structuring of business operations in India (including proposed offerings like stablecoins backed by currency, digital tokens, and non-fungible tokens (NFTs)), considering regulatory and compliance issues, under exchange control regulations, securities regulation, anti-money laundering laws (PML and KYC), etc.
*Data Privacy and Protection: Advice on data privacy issues, including requirements applicable to handling and processing of data, and intermediary liability for publishers and news aggregators, handling of health data, under the Information Technology Act, 2000 (IT Act) and the rules, as well as the proposed Personal Data Protection (PDP) Bill.
*E–Commerce: Advise on day-to-day marketplace operations (such as structuring of programs for sellers, vendors, and customers, and evaluation of proposals, from an FDI and regulatory standpoint), and associated legal and regulatory issues.
*Employment, Labour, and Benefits: Advise various domestic and global businesses on issues of labour law, including on, prevention of sexual harassment at the workplace (POSH), maternity benefits, contract labour regulation issues, etc.
The Seamless Tech Transition
According to her, the impact of technological advancements in the Law is transformational, whether it is for lawyers or our clients. Lawyers, similar to many other professionals, experienced this during the first two years of the COVID-19 pandemic when daily routines were disrupted, and a vast majority of the workforce was compelled to work remotely. “Technology allowed us to transition seamlessly and efficiently.” Prior to this, I never believed that work from home actually “works”, but this unprecedented period that we all went through, truly has me believing.
Additionally, being in a corporate advisory team that regularly advises numerous fintech companies, they get to witness the impact of rapid technological advancements on businesses firsthand, almost on a day-to-day basis. The biggest challenge here is for lawyers to keep pace with these innovations and developments and understand the interplay between such technologies, and the prevalent legal and regulatory framework.
An Ever-Evolving Influence
When probed about what specialties/factors enable her to stand out as an influential personality in the legal field, Shagun divulges that while working in a corporate advisory team at one of the pioneer law firms of the country, she has got to be adequately equipped to advise on any facet of the law, at any given point of time. There is no time for stagnation, and one has to continuously be evolving, by learning and developing ones’ skill sets and competencies on an everyday basis which she truly believes put one a cut above the rest.
“I have to not only be well versed with the law which is progressing in tandem with society (as it should) but also be up to date with proposed enactments/policy initiatives, that may have an impact on our client’s operations both at a macro and micro level. This, coupled with the fact that I work side by side with some of the brightest legal minds in the country, and constantly learn from them, ensures that I am always able to provide our clients with commercially viable advice, which is reliable, tactical, and practical, and compliments the client’s objectives,” she cites. Teamwork makes the dream work, and at AZB & Partners, “We make a conscious effort to imbibe that in letter and spirit, by mentoring our team members and encouraging each other to do better!”
She says, “I also truly believe that in our profession, support from our family and friends play a tremendous role (in my case especially that of my parents who are my biggest cheerleaders), without which I do not believe I would be where I am in the first place.”
The Gift of Law: A Way of Life
In her advice to the aspiring legal enthusiasts willing to step into the legal space today, Shagun appeals to ‘Have patience and dedication! Put that extra effort and spend that additional time honing your skills at the start of your career. These are opportunities that that you cannot bring back so make optimum use!’
Finally, sharing her views on the evolving scenario of the Indian Legal jurisprudence, Shagun says that the Indian legal system has been, and will continue to be, dynamic, especially in light of globalization, developing stakeholder expectations on ESG principles, and evolving legal and regulatory framework in the country, that create a very dynamic internal and external work environment. “Today, being a lawyer/advocate, is not just a profession but a way of life, which gives you the ability, freedom, and independence to be your own person, and there is no greater gift you can give yourself, especially as a woman,” she concludes.
