Veteran corporate lawyer Rajiv Luthra passes away: A look at his legacy

Rajiv Luthra, veteran corporate lawyer and founder of the law firm Luthra and Luthra, died Wednesday after a brief illness.

He was being treated for an ailment in Medanta Hospital.

A first-generation lawyer, Rajiv Luthra set up the law firm Luthra and Luthra in 1989. The firm burnished its reputation by pioneering taxation and corporate law in India.

Rajiv Luthra himself specialised in public-private partnerships and project finance. He led various corporate mergers and acquisitions, Coca-Cola-Parle being one of the most prominent. He was involved in the $4 billion Sun Pharma-Ranbaxy merger. He also advised the government on the Air India-Indian Airlines merger.

Rajiv Luthra played an instrumental role in conceiving the amendments to the Copyright Act, 1957. He gave evidence before the Standing Committee of the Parliament on the issue of royalties to authors and composers. The amendments were passed unanimously by both the Houses.

The government also appointed him to the Advisory Board of the Competition Commission of India (CCI) to help frame the Competition Act, 2002.

Known for pioneering corporate tax practices in India, his firm handled 52 power projects in the 1990s.

With offices in Mumbai and Bangalore, Luthra and Luthra had over 350 lawyers at its peak.

Post the 1991 economic reforms, Luthra and Luthra was in the thick of things, and the firm even handled the training of regulators. The firm led various disinvestment and privatisation projects.

The firm also handled bulk documentation work of the tariff-related petitions at the Central Electricity Regulatory Commission.

Luthra and Luthra was also one of the first firms in India to handle project finance directly. Post the 1990s, the firm expanded its operations in Bangladesh, Sri Lanka, and Nigeria. The firm dabbled with satellite financing too.

Luthra and Luthra is also credited for setting up India's first competition law practice in 2000.

In an interview with Bar and Bench, Luthra talked about the influence of Senior Advocate Fali S Nariman on his career. "I learnt a lot from that man...I owe a lot to him."

He also talked about the importance of passion in his career. "I've had a very interesting career till now, and I've had very different, varied interests with hardly much connection. But everywhere, the connection was enjoyment; the connection was passion."