Luthra and Luthra Law Offices
Top-tier Indian corporate law firm advising on big M&A, banking, and energy deals.
On the record
Checkpoint: Legal 500 2027 and Chambers 2026 rankings update, plus resolution of pending equity-restructuring talks
The call
A genuinely strong Indian law firm whose bigger threat is its own partner exits and slow AI adoption, not any single outside rival.
Luthra and Luthra is a well-known Indian corporate law firm that handles big deals and clean energy projects. The firm is in trouble because its own partners keep leaving to start competing firms (21 departed in 2021, about 60 more in 2022), its founder died in 2023, and it has not built the AI software tools that rival firms like AZB and Cyril Amarchand Mangaldas are already using to work faster and cheaper. The one thing that could turn this around is if Luthra stops losing partners to new startups and quickly launches its own real AI system within the next year or so, or else it will keep sliding down the rankings as clients pick faster, smarter competitors.
Why
01
AI pressure: None apparent. No named AI deployment yet; peers like AZB and Cyril Amarchand are moving faster on legal AI tools, risking a widening gap. Could AI do the core job? Only partly.
02
Bigger players: AZB & Partners, Cyril Amarchand Mangaldas, Shardul Amarchand Mangaldas, Khaitan & Co. Bigger, more stable rival firms keep pulling ahead in rankings and deal flow while Luthra manages internal churn. Could a giant copy it? Probably.
03
What protects it. Bar-admission rules and deep client relationships in regulated sectors keep top-tier work from moving easily to non-lawyers or software.
What would change this call
Another senior partner group departs a top-ranked Luthra practice within 12 months. Would confirm ongoing partner instability beyond the 2021 and 2022 exoduses.
Luthra announces a named AI deployment (e.g. Harvey, Lucio) with rollout figures. Would show it closing the tech gap with AZB, CAM, Khaitan, SAM.
Resolution of the equity-restructuring review begun Sep 2023 becomes public. Would show whether governance uncertainty is settled or still unresolved.
Luthra announces a named AI deployment (e.g. Harvey, Lucio) with rollout figures. Would show it closing the tech gap with AZB, CAM, Khaitan, SAM.
Resolution of the equity-restructuring review begun Sep 2023 becomes public. Would show whether governance uncertainty is settled or still unresolved.
Key numbers
- 21 partners left with Mohit Saraf in 2021 split
- 60+ lawyers exited to DSK Legal in 2022
- Top-Tier ranking in 12 practice areas, 44 ranked lawyers
Named risks
- History of repeated mass partner exodus (2021, 2022) could recur in any practice group.
- Equity-restructuring process initiated September 2023 remains unresolved, an open governance question.
- Lags top-tier peers on named, shipped AI deployments despite general statements of AI integration.
- Sector-wide Indian Supreme Court panel reviewing AI-use guardrails could constrain future AI adoption for all firms including Luthra.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| Saraf & Partners | losing to | Absorbed 21 departing Luthra partners after 2021 co-founder split |
| DSK Legal | losing to | Absorbed 60+ lawyers in 2022 Chandhoke and Sharma exodus |
| AZB & Partners | gaining on | AZB announced global Harvey AI rollout September 2025, no equivalent from Luthra |
| Cyril Amarchand Mangaldas | gaining on | Launched AI-first strategy January 2025 across 380 lawyers using Harvey, Lucio, Copilot |
| Khaitan & Co | gaining on | Built in-house AI tool KAI, rolled out 2023, ahead of Luthra's general AI statements |
Questions people ask
- Is Luthra and Luthra Law Offices a safe firm to join in 2026?
- Risk is elevated: the firm lost 21 partners to a rival in 2021 and 60+ lawyers to DSK Legal in 2022, founder Rajiv Luthra died in May 2023, and an equity-restructuring process begun in September 2023 remains unresolved as of 2026.
- Could AI replace lawyers at Luthra and Luthra?
- Courtroom work is bar-protected, but associate-level drafting and due diligence are exposed. Managing Partner Harry Chawla said in May 2024 the firm is integrating AI into standardized processes, but unlike AZB (Harvey rollout, Sep 2025) or CAM (AI-first strategy, Jan 2025), no named AI deployment has been announced.
- Who is Luthra and Luthra's biggest competitor?
- It competes with elite Indian firms AZB & Partners, Cyril Amarchand Mangaldas, Shardul Amarchand Mangaldas, Khaitan & Co and Trilegal, and also lost talent directly to Saraf & Partners (2021, 21 partners) and DSK Legal (2022, 60+ lawyers), both founded by ex-Luthra partners.
- Is Luthra and Luthra Law Offices profitable?
- No audited or independently verified financial figures are publicly disclosed, as is typical for Indian law firms barred from outside capital under Bar Council of India rules. The firm's website and Chambers profile list rankings and clients but not revenue or profit figures.
- Why did senior partners leave Luthra and Luthra?
- In 2020-21, founder Rajiv Luthra and co-founder Mohit Saraf disputed equity dilution; Delhi High Court ordered Luthra to pay Saraf roughly Rs 52 crore plus a Rs 25 crore bank guarantee, and Saraf launched Saraf & Partners in July 2021 taking 21 partners with him.
- Who owns and runs Luthra and Luthra today?
- It is a private equity partnership with no outside investors. Harminder (Harry) Chawla, an Atlas Law Partners co-founder, became Managing Partner in August 2023 after Luthra merged with Atlas, following founder Rajiv Luthra's death in May 2023.
Timeline
- 2026-01-07Zeeshan Khan joins as banking and finance partner in Mumbai
- 2025-04Three capital markets partners (Mitroo, Dabbiru, Dhania) depart the firm
- 2025-03-19Sharad Joshi joins as Mumbai corporate partner
- 2024-05-20Managing Partner Chawla states firm is integrating AI into standardized workflows
- 2023-09-05Chawla begins exploring broader equity-sharing among partners
- 2023-08-19Merger with Atlas Law Partners; Harry Chawla becomes Managing Partner
- 2023-05-12Founder Rajiv Luthra dies
- 2022-08Partners Chandhoke and Sharma exit with 60+ lawyers to DSK Legal
- 2021-07-19Mohit Saraf launches Saraf & Partners, taking 21 partners after equity dispute
Revision history
30 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- L&L Partners recovery plans after setbacks (2025-08-26 approx)
- Our Firm, Luthra and Luthra
- Mohit Saraf launches new law firm post split with L&L Co-founder Rajiv Luthra (2021-07-19)
- Asia Legal Briefing: India's Rajiv Luthra Passes and Rests in Power (2023-05-12)
- Harminder (Harry) Chawla assumes the role of Managing Partner... (2023-08-19)
- Luthra hires expert to explore opening equity among partners (2023-09-05)
- Luthra and Luthra Law Offices India, Asia-Pacific 2026
- Luthra And Luthra Bolsters Its Partnership With Two New Stalwarts (2022-08-17)
- Rajiv Luthra, founder of India's Luthra & Luthra, passes away (2023-05-10)
- Luthra and Luthra Law Offices India > Capital markets > India
- Sharad Joshi joins Luthra and Luthra in Mumbai as partner (2025-03-19)
- Luthra and Luthra onboards Zeeshan Khan as partner in Mumbai (2026-01-07)