LexTalk World Talk Show with Kiran Laxman Padalkar, Partner at India Law Alliance
Lextalk World interviews Mr. Kiran Padalkar. Kiran is a lawyer from Mumbai. He graduated with a Bachelors’ degree in Science from D.G. Ruparel College, in 2007. He then choose to pursue a professional degree in law, from Government Law College, Mumbai. Kiran began his career with Mansukhlal Hiralal & Co. first as a paralegal and then as an associate. He has been at India Law Alliance since December, 2013. He was promoted to Partner in October, 2019. With a decade of experience in real estate, arbitration, general and commercial litigation, Kiran believes his mentors in the profession, paved the path for his success. He knows that it is critical to build a solid team, which can be strengthened on the foundation of care, to ensure that they will be invested and aspire to do their best. In his free time, he enjoys playing cricket and spending quality time with his son. He also has a keen eye for the arts, with a focus on theatre and drama, having won accolades and awards for the same, during his college days.
HOST: Please brief us about your journey as a Legal professional so far?
KIRAN: The Journey has been phenomenon. My mentors in the field had once told me to enjoy the journey rather than thinking about the results. I have been following his valuable words since then and I believe, I have been fortunate enough to have such mentors and the seniors in my life who helped me to evolve as a good human being. I am not as successful as them, but whatever I am today and have achieved in the field is only because of them.
HOST: Tell us about your most memorable case and what are your key takeaways from there?
KIRAN: Every case is an experience in itself. My most memorable case was one of the Arbitration which I handled for one of my UK based client. My client had purchased some flats in bulk sale from one of the Developer. Dispute arose between the parties and the matter was referred to the Arbitration. I won the arbitration for my client. The key takeaways from this case was the experience I gathered during the Arbitration regarding the framing of the contracts with the developers and insertion and importance of the Arbitration clause in the commercial agreements. This case gave me insights of such deals which helped me to advice my other clients with the similar queries.
HOST: How do you look at Laws pertaining to Real Estate in 2020 and how it's going to change 5 years down the line?
KIRAN: The Real Estate market has been facing downfall since couple of years which was aggravated further due to outbreak of Covid-19. In India, the Real Estate Regulatory Act is the major evolution in the Real Estate market here. Since the enactment of the Real Estate Regulatory Act and the Real Estate Regulatory Authority across the Country, the Real Estate Market in terms of Homebuyers has seen disciplined execution of the Transactions and timely completion and possession to the homebuyers who put their hard-earned money to own their dream home in the city of dreams like Mumbai. In my view, due to outbreak of Covid-19 across the globe which did not spare even the Real Estate Market which was already facing troubled waters has pushed it further down and it will take another 3-4 years to recover from the losses. We hope the law-making authorities will come up with some reliefs to the homebuyers as well as the developers.
HOST: Tell us about the journey and evolution of India Law Alliance since its incorporation.
KIRAN: India Law Alliance incorporated in 2004 by young bloods Mr. Anupam Dighe and Mr. Kamlesh Kharade. The firm focusses on providing commercially viable solutions to its clients in respect of legal issues and disputes and the firm is been successful in resolving long standing and large issues for its clients. Right from its inception, the firm was working closely with M/s. K. S. Iyer & Co., a leading Chartered Accountant firm in India and over a period of time, the firm has been a preferred firm of many accounting firms including the BIG FOUR including Price Water House Cooper, KPMG, etc. in tax matters. Over a period of time, the firm has developed close relationships with large Indian as well multi-national companies across the globe. The firm has been instrumental through its associate law firms in UK, USA and across the world to provide solutions to its clients on international transaction and disputes. The Firm started its presence in Mumbai and now also in Delhi since past seven years and the firm has grown from a two partner firm in 2004 to five partner at present with 25 plus associates and supporting staff.
HOST: Brief us about the evolution of Arbitration laws in India.
KIRAN: “Differences we shall always have but we must settle them all, whether religious or other, by arbitration." - Mahatma Gandhi”. Arbitration is a tool to settle the disputes amicably without going through the lengthy and time-consuming Court Processes. It is evident that arbitration has evolved over the years as the ideal tool for resolution of disputes that saves the court's time and largely instrumental in assisting the parties to resort to quick remedial measures. Every arbitration is based on insightful application of law and its evolution is proof of its significance in the actual proceedings. Thus, arbitration has emerged as the most preferred platform for quick resolution of disputes especially in the industrial and the corporate realm.
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