Argus Partners has changed its equity partnership structure into a 'modified lockstep' model with a view to fostering transparency, fairness and clarity in the firm's progression.

According to a press release issued by the firm, the rationale behind adopting the lockstep model is to permit its partners to "accelerate their career progression while ensuring adequate support to their respective professional objectives."

Partners will be compensated based on merit and performance. The structure also aims to be empathetic towards situations beyond the control of the partner or personal exigencies and other circumstances like maternity and childcare.

Speaking on the new model, Managing Partner Krishnava Dutt said,

“The Firm has grown at a good pace over the last couple of years and has reached a position where, we collectively as a Firm, consider it to be the best way to take the Firm to the next level. The modified lockstep model complements the Firm’s goal to attract, retain and develop the best lawyers in the country while providing the Firm with more flexibility to propel forward with its ambitious strategic growth.”

Senior Partner R Sudhinder added,

“Argus believes in transparency and fair opportunities to all. The Lockstep is a progressive step in that direction and a significant milestone in the journey of the Firm!”

Aastha, who was elevated to the firm's partnership in March this year, said,

“Having been with the Firm since its inception and having witnessed its remarkable growth, I am delighted that we have chosen this lockstep model which is a testament to our commitment to meritocracy and inclusivity. I am confident that it will continue to help us to build on our success and reach even greater heights.”

Adity Chaudhary, who was also elevated in March, said,

“The lockstep is another milestone for the Firm and a step in the right direction as the Firm enters its next stage of expansion. It reflects the Firm's culture which nurtures and rewards talent, and is fair, inclusive, accommodative, and based on meritocracy. Argus is already one of the fastest growing law firms in Asia doing marquee deals and I am confident that this new structure will propel it to become one of the largest.”

“We feel this is the right point in time in the firm's journey for this significant step of adopting a modified lockstep in line with the best industry standards. The past couple of years have been significant for the firm with us acting on some of the biggest deals and we believe that the lockstep will propel us further while creating an enduring and lasting institution,” said Ankit Guha, Partner 

“It has been a truly exhilarating journey over the past decade with quality, integrity, and respect at the core of our foundation. The time is ripe for the Firm to take this journey to the next level by adopting the modified lock step which recognizes and promotes talent at all levels together with providing the partners a runway to build the practice in a harmonious and supportive way. Looking forward to the exciting times ahead", added Soorjya Ganguli, Partner