Scope of Corporate Law in India

Many young aspirants are curious to know about the career scope in the field of corporate law. Well, the corporate sector is the backbone for the Indian economy and this sector alone contribute around 55% to India GDP. The sector has ample career and growth opportunities and therefore the young law aspirant should consider it a perfect career choice.

Let’s discuss more corporate law

What is Corporate Law?

A company is a legal person in the eye of law and usually formed for the purpose of business and earning the profit. The law considers it as a separate legal entity and therefore it can sue or be sued. Due to the separate legal entity concept a company is different from its owner, shareholder, etc.

Corporate law and company law is the same in understanding and the word company can be used interchangeably with the corporation.  Indian companies are governed by The Companies Act, 2013 which contains 470 sections and 7 schedules.  The Companies Act, 2013 is applicable to the whole of India and administered by the Ministry of Corporate Affairs. The law related to companies is known as corporate law.

The objective of Company law

The objective  of company law is to provide a legal framework in which the companies must operate.  Corporate law includes law related to the contract, legal matters, mergers, acquisitions, share capital, winding up and other company related issues. The work of a corporate lawyer is to guide the company and help in fulfilling various laws. Corporate lawyers deal with the legal matters of the company and give advice to the Boards of Director.

The purpose of corporate law is to ensure the smooth functioning of corporate or companies for the welfare of the company as well as for the economy. In order to curb the malpractice and avoid any fraud, the company law contains many provisions. Due to the involvement of other stakeholder and to boost the Indian economy corporate law is necessary.

Career Scope in Corporate Law in India

With the rapid increase in corporate, there is a huge demand for lawyers with good knowledge of Company law. There are various career opportunities and these opportunities are growing day by day. There are various places where a corporate lawyer can work such as Law firms, corporate litigation, In-house counsel, regulatory body, etc.

• Law Firms: As per some survey, many students are interested in joining the corporate law firm. The lawyers in corporate firms have to deal with or engaged in drafting agreements for acquisitions, mergers and give legal advice on company-related matters.
• Corporate Litigation: Corporate litigation is also one of the most demanding career opportunities for law graduates. Anyone interested in handling company legal issue such as violation of contract, employer and employee dispute, fraud practice, etc.
• In-house counsel: A company is a legal person and therefore it requires a person who will handle the legal matters. Every company requires a legal panel to handle all law related issue and help in fulfilling national as well as international law. The lawyer has only one client- the company and therefore there is work pressure as compared to other places. The lawyer should take care of areas related to contacts, acquisitions, transactions, etc.
• Regulatory Bodies: A law graduate can also work with regulatory bodies such as Reserve Bank of India (RBI), Securities Exchange Board of India (SEBI), and Competition Commission of India (CCI), etc. The lawyers can work with these bodies in various departments such as legal affairs, surveillance, litigation, and commodities.

Life of a Corporate Lawyer in India

Corporate lawyer is one of the most reputed jobs in India and the life of a corporate lawyer is lavish. They work with the corporate having huge money and willing to spend on getting advice. Company law covers various subjects and therefore it is not possible to specialize in all the subjects. A corporate lawyer has specialization in one of two areas. Company law includes

• Corporate Restructuring
• Compliance
• Insolvency & Bankruptcy
• Refinancing
• Intellectual property rights
• Private equity and venture capital transactions
• International capital markets

Top 10 Corporate Law Firms in India

• Khaitan And Co.
• S&R Associates
• Talwar Thakore and Associates
• Shardul Amarchand Mangaldas And Co.
• Cyril Amarchand Mangaldas & Co.
• J Sagar And Associates (JSA)
• Trilegal
• AZB and Partners
• Luthra and Luthra
• Desai & Diwanji

Conclusion

The scope of corporate law in India is much bigger as expected and has huge growth opportunities for law graduates. The salaries of the corporate lawyers in India are good therefore the law aspirants who are interested in corporate law must pursue their interest and become successful in the corporate world.