Rahul Matthan and Karan Singh, founding partners of Indian law firm Trilegal, will step down from their leadership roles at the end of March to make way for two elected managing partners, according to media reports.

This makes Trilegal the second known law firm in India to have elected managing partners after J. Sagar Associates (JSA), and is a sign of growing modernization in an industry where the larger firms tend to be effectively controlled by families.

From April 1, Trilegal will be led by managing partners Sridhar Gorthi and Nishant Parikh, who were  elected by partners of the firm. Corporate partners in the firm’s Mumbai office, both Gorthi and Parikh specialise in M&A and private equity.

After the transition, Matthan and Singh will become members of the firm’s consultative board and will have supervisory roles. According to Mint, the new supervisory board will have seven members against the current four-member board. Two other people have been elected to be part of Trilegal’s management committee.

Trilegal did not respond to ALB’s request for comment.

Last year, JSA elected senior partner Amit Kapur and partner Vivek Chandy to become joint managing partners of the firm until March 2022. They are part of a five-member executive committee which also includes partners Amar Gupta and Upendra Sharma, and former joint managing partner Dina Wadia.

To contact the editorial team, please email ALBEditor@thomsonreuters.com.