Iqbal Khan Steps Down from JSA: What This Legal Power Move Could Mean for CAM
In India’s corporate legal world, few names spark as much curiosity and conversation as Iqbal Khan. Known for his dealmaking prowess and leadership in M&A and private equity, Khan’s recent decision to step down from JSA (J. Sagar Associates) has sent ripples across the legal community.
Even more interesting? Sources suggest that Khan is in talks with Cyril Amarchand Mangaldas (CAM) to potentially join their Mumbai office—a move that could significantly shift the balance of talent and transactional strength in India’s top law firms.
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Let’s break down why this matters.
Who Is Iqbal Khan?
Iqbal Khan is a seasoned corporate lawyer with over 25 years of experience across M&A, private equity, joint ventures, and strategic advisory. He has previously held senior roles at:
- Shardul Amarchand Mangaldas (SAM)
- JSA, where he led the firm’s national corporate and private equity practice
- Global law firms, including stints with U.S.-based entities
Khan is widely regarded as a trusted advisor to leading private equity funds like Advent, Bain Capital, TPG, and Blackstone, and has closed some of India’s most high-value, high-stakes transactions.
Why Did Iqbal Khan Leave JSA?
While the firm has not released an official statement, insiders point to a strategic career transition rather than a fallout. Khan joined JSA less than a year ago from SAM, bringing a 20-member M&A and PE team with him.
His exit appears to be part of a broader recalibration—and possibly a return to a more prominent leadership role at a firm like CAM, known for its deep transactional bench and ambition to lead in the corporate/M&A space.
Iqbal Khan and CAM: What We Know So Far
- Negotiations are ongoing: While nothing is confirmed, several senior industry insiders have said that CAM is looking to expand its Mumbai-based corporate team and Khan is a strong fit.
- Possible team movement: There’s speculation that Khan may bring a core team of trusted associates with him, similar to his move from SAM to JSA.
- Strategic fit: CAM has been aggressively hiring in fintech, regulatory, and now potentially corporate PE, to strengthen sector-specific legal capabilities.
What This Move Means for the Legal Industry
Iqbal Khan’s next step isn’t just a personal career change—it’s a signal. Here’s why:
1. Talent Mobility at the Top Tier
Khan’s move reflects a broader trend in the legal industry: senior partners are increasingly mobile and strategic about where they build long-term equity.
2. Rise of Team-Based Transitions
Large-scale lateral moves involving full teams are becoming the norm. Firms aren’t just hiring names; they’re onboarding ecosystems.
3. CAM’s Ongoing Expansion Strategy
CAM has made several high-profile lateral hires in the last year. Bringing in Iqbal Khan would cement its leadership in complex dealmaking and fund representation.
4. Pressure on SAM and JSA
If Khan lands at CAM, both SAM and JSA could face client re-routing and internal reshuffling.
Iqbal Khan’s Deal Sheet: Why Clients Follow Him
Some of the landmark transactions Iqbal Khan has worked on include:
- Advising Advent International on multiple platform acquisitions in pharma and logistics
- Representing Bain Capital in its India healthcare investments
- Acting on high-profile exits, restructurings, and SPAC transactions
Clients value his sharp commercial sense, negotiation skills, and ability to balance legal risk with deal speed.
What to Watch Next
- Official confirmation from CAM or Khan
- Whether his current team will follow him to a new platform
- Implications on existing client rosters at JSA
- CAM’s reshuffle or rebranding of its corporate practice around Khan (if the deal closes)
This is a story still in motion, and the outcome could redefine lateral hiring trends in the Indian legal market.
Iqbal Khan’s Next Move Could Reshape Indian M&A Law
As corporate law in India matures into a strategic, sector-driven business, leaders like Iqbal Khan are setting the pace. Whether or not he joins CAM, his exit from JSA reflects how the best talent is increasingly drawn to platforms offering influence, culture, and legacy.
For clients, competitors, and younger lawyers watching the market, one thing is clear: where Iqbal Khan goes, serious dealmaking follows.
Disclaimer:
The information provided in this article is based on publicly available sources as of the date of publication. While care has been taken to ensure accuracy, developments are ongoing and final confirmations may vary. This article is intended for informational and journalistic purposes only and does not constitute legal advice or an official statement from any law firm or individual mentioned and this is a developing story.
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