Business laws, also known as the commercial laws are laws that deal with the issues faced by the public or an individual. These help to organize business exchange practices like terms and conditions, affiliate understandings, permits, and many more in regards with the businesses. The commercial laws help businesses to have an effective trade between the organization and its customers. They signify the legal services implemented to support the business economy.
Featuring for the Cover Story of The Business Fame’s issue of “The Most Recommended Law Firms to Watch in 2021” is AKM, a firm that provides businesses with comprehensive legal solutions.
The Firm-
A.K.Mylsamy & Associates is a Leading Law firm providing comprehensive, business-specific legal solutions since 1964. With core value systems as quality, competency, commitment, and ethics, their team of experts, who have enviable experience in their related fields, provides efficient and prompt delivery of legal solutions that work best for your business. They strive to seek long-term relationships with clients and provide the best comprehensive solutions.
“We set very high standards of professionalism for ourselves and achieve the same with a meticulous approach and a high degree of professional integrity.”
Their Products and Services-
AKM LLP specializes in Corporate, Commercial, and Civil law with full focus on mergers, acquisitions, restructuring, recoveries, insolvency and bankruptcy, litigation, arbitration and contracts and real estate.
“We believe that we are unique and different from others as we combine innovation with serious law(s).”
The innovative spirit of the firm is showcased through “one of its kind” online monthly Newsletter “The Law Tree”, where legal knowledge is shared with the public in a simple yet interesting manner.
AKM Research and Analytics Private Limited (AKMRA) was an early bird earliest in launching the knowledge portal “ibccases.com”- a one stop shop repository for laws, rules, regulations, amendments, precedents and analysis of all provisions related to insolvency and bankruptcy code. The site contains exhaustive content of brief incisive summaries of judgments delivered by various courts related to the interpretation of this law.
In all their endeavors, the firm is indeed fortunate to be guided by an Advisory Board consisting of luminaries from the Legal and Corporate World.
The Changing Landscape-
There is a sea of change in the legal scenario especially in the last decade or so. There is a paradigm shift in the perception of law. It has moved away from litigation and moved towards conciliation, arbitration and settlement. Just like laws and legal practices are customized to be in sync with changing economic, political and social times, lawyers / law firms have to keep pace as well. It is this ability to keep pace with the changing times that makes a law firm a cut above the rest.
With foreign entities making headway into India, the Indian companies may face disruption in growth as there is a need to customize to Indian and foreign laws and compliance. AKM law firm is the sounding board that provides lasting legal solutions and ensures sustainable growth to such companies.
Like the rest of the world, India was affected by the economic challenges due to the onslaught of the covid 19 pandemic. The firm quickly realigned its working to ensure minimal inconvenience to clients while ensuring maximum safety of staff. The firm rolled out its business continuity plan by using technology – virtual court hearings, video conferences with clients, organizing webinars and leveraging artificial intelligence, AI to complete regular documentation and contracts. This proactive nature enabled providing continued value-added services to clients including the online monthly newsletter and the IBC web portal.
A Dynamic Team-
AKM is constantly on the lookout for talented youngsters. They always make sure to select good lawyers who are handpicked, trained and groomed to face the Courts and Clients alike. The younger generation of lawyers is exposed to work in close quarters with the Partners and the senior advisory board.
“At the firm, we ensure an amicable work environment.”
A place sans rigidity when it comes to sharing ideas. The team is always open to ideas. Their interns / young lawyers and partners are bustling with ideas. Their experienced advisory board members mull over the viability of these ideas. Once approved by them, the partners take the final call to foray into new/varied areas of practice to the best of their capability.
A transparent and inclusive work environment increases individual responsibility and accountability.
The firm believes in giving back to the legal fraternity and hence plans to initiate training programs for young lawyers in the future by going beyond the theory of law and inculcating values, ethics and professionalism which will make them a cut above the rest.
At the workplace, AKM on boards and retains young talented professionals. Their interns / young lawyers, partners and their experienced advisory board collectively brainstorm to provide effective foolproof solutions which are customized to each client. The energy of the young coupled with the experience of the senior members ensures that the law firm offers quality legal solutions.
The team has access to good resource of legal literature – physical and online subscriptions to enrich their knowledge and help them to put forth the best at work.
“We give lawyers a holistic approach to enhance their professional and personal life.”
Besides, constant updation of knowledge/ practices of law and thinking differently while staying within the legal realm has helped practice in different areas. The ability to be on the learning curve forms the core of any professional career, especially a career in law. Collective brainstorming and constant updation of law keeps them going as individuals and a team.
“We believe motivated individuals can collectively contribute to the growth of the firm.”
The Road Ahead-
At AKM LLP they are always on the lookout for new avenues and opportunities. The firm is a corporate law firm and has begun foraying into niche areas such as taxation, customs, immigration, aviation and labor laws. They have a systematic approach in making their presence. With the headquarters in Chennai and offices in Delhi, Bangalore and Coimbatore, they plan to make their presence felt pan India and internationally.
“AKM’s star gazing is supported by honesty, integrity, discipline, professionalism and research.”
Know the Leader-
Mr. A.K Mylsamy Leading the Way
Mr. A.K Mylsamy or “AKM” as he is popularly known is a lawyer par excellence with a stellar career of over five decades and counting. Having completed his schooling in Coimbatore, he pursued his graduation and legal education in Chennai. On completion, he immediately commenced his practice with Mr. T. Raghavan, a legal stalwart and pioneer in corporate law practice.
Early on in his practice, AKM envisioned that corporate law would be the future and ventured into the niche area in the early 60’s when not many did. Over time, he moved from strength to strength. Having started his practice as a sole proprietorship, brand AKM slowly transitioned into partnership firm and is presently a Limited Liability Partnership (LLP). An early riser, AKM is a firm believer that patience, perseverance, continuously reading and staying updated with current laws are the founding steps to long lasting success. Quality, consistency, competence and professional ethics are founding pillars of his legal journey.
A Few Milestones in the Company’s Journey-
The growth of AKM has been organic. Originally founded as a sole proprietorship by Mr. A.K Mylsamy, it became a partnership firm with the joining of Subathra Mylsamy. In 2010, the Firm formally became a Limited Liability Partnership (LLP) with Mr. P.S Suman coming onboard. The firm is powered by an advisory board constituting the former Judge of the Madras High Court, Company Law Board, former IRS officer, senior tax, finance and hospitality experts is our guiding force of light.
Their illustrious Advisory Board:
- (Former) Justice M. Jaichandren, former Judge of the Madras High Court with stellar experience in a range of cases – civil, criminal, labor, administrative and debt recovery. He is specialist in writs and Public interest litigations.
- Mr. S. Balasubramaniam, (former) Chairman CLB, a luminary in the field of corporate law and arbitration besides writing and editing books on corporate law which create professionals.
- Mr. K K Balu, (former) Vice Chairman of the CLB, a storehouse of experience and our think tank on corporate laws, arbitration, banking, conciliation and mediation.
- Mr. P.Muthusamy (IRS) An Indian Revenue Office who has an outstanding career spanning over 30 years in the area of Revenue. He has experience\ expertise in Indirect tax, Customs, GATT, Trade Related Intellectual Property Rights (TRIPS). He heads the Indirect tax & Foregin Trade practice at AKM.
- Mr. S. Ramanujam, (former) Executive Vice-President, Group Taxation of the UB Group, senior tax expert, an authority on mergers, de-mergers and restructuring.
- Mr. R S Mani, (former) group CEO of M.R Kodandaram group (member of MS Ramaiah group), expert in banking, finance and insolvency matters.
- Mr. Ashok Anantram, (former) Vice President of the ITC Hotels Limited who augments his experience in the hospitality sector to help us provide sound legal advice to niche hospitality fraternity.
Mr. A.K Mylsamy’s Advice to the Budding Entrepreneurs-
“The professional mantras of practice, patience, and perseverance, problem-solving and personal relations are universal.
In the legal genre, staying updated with current laws is mandatory for a successful long-standing career. Maintaining good interpersonal relations with clients is a must for individual and collective growth.
Putting the heart and mind to work is crucial as intellect and dedication in any activity is a winning combination. The quality of work will speak for itself then. Proactive identification of opportunity(s) is the key to a good and smart lawyer.
In any entrepreneurial venture, the quality of work done will speak for itself. Money and fame will follow suit. Being open to continuous learning is another key to success especially in the legal field. Personal grooming is as vital as professional development. Grooming with communication and interpersonal skills coupled with sound knowledge ensures success.”
Working hard to strengthen the firm and build a practice is a continuous process. We endeavor to bring the best-customized solutions for clients. Pandemic or no pandemic, the firm is poised to be a one-stop shop law firm for all corporate law solutions.
