Redefining Governance In Indian Law Firms: A Case For Structural Reform And Institutional Accountability
- IJLLR Journal
- Jul 2
- 1 min read
Supriya Puntambekar, SVKM’s Pravin Gandhi College of Law, Mumbai
ABSTRACT
In the rapidly evolving legal landscape, Indian law firms stand at crossroad, struggling to keep up with the complexity and demands of modern practice. While these firms advise billion-dollar transactions, global corporations and shape policy, their internal structure remains rooted in old, informal patterns of governance. This article argues for the necessity of reshaping corporate governance in Indian law firms to enhance transparency, accountability and ethical practice. Comparing Indian experience with global templates, such as the UK and Australia's acceptance of non-lawyer ownership and public listings, the article details how India's regulatory framework is insufficient to cope with the cutting-edge challenges that confront law firms today. Spanning from transparent partner promotion to lack of conflict management systems, these structural flaws leave firms exposed to ethical disasters and client loss. The split of a major law firm in 2015, demonstrates the price of governance complacency, showing how internal conflict can topple even the most high-profile organizations. Based on an analysis of the regulatory environment, structural inefficiency and benefits of adopting corporate governance models, this article makes a compelling case for reform. By proposing a comprehensive model that involves mandatory conflict checks, financial disclosure and independent monitoring, it aims to bring Indian law firms into alignment with global best practice, promising long-term sustainability, integrity and growth.
At the heart of this article, lies the question: Why do Indian law firms require structured corporate governance and what risks arise in its absence?
