Ashok Anant Paranjpe, senior Mumbai-based solicitor and Managing Partner of MDP Associates, Advocates & Solicitors, has spent decades building a distinguished career in corporate, banking, and real estate law. In this candid conversation, he reflects on the experiences, challenges, and defining moments that have shaped his journey.
By Andrea CostaBir
With a legal career spanning more than four decades, Ashok Anant Paranjpe has established himself as one of Mumbai’s most respected legal professionals, with expertise in corporate, banking, real estate, and dispute resolution law. A former partner at Wadia Ghandy & Co for 25 years and now the Managing Partner of MDP Associates, Advocates & Solicitors, he has advised leading corporates, financial institutions, developers, and investors on complex legal and commercial matters.
Beyond his legal practice, Paranjpe is an experienced corporate board member and independent director. He serves on the boards of institutions including Dish TV India Ltd, SICOM Ltd, and LIC Mutual Fund Trustee Pvt Ltd, bringing deep expertise in corporate governance, regulatory compliance, and strategic oversight. A graduate of Government Law College, Mumbai, his career reflects a rare combination of legal excellence, business acumen, and public trust.
What inspired you to pursue a career in law, and what led you to become a solicitor?
My parents were leading lawyers in Thane. In fact, my mother, Adv. Shakuntala Paranjpe was the first lady lawyer in Thane District in 1961. My grandfather was also a lawyer, and the family influence was an inspiration to carve out a niche for myself in the legal profession. My father was instrumental in cajoling me into signing articles at Wadia Ghandy & Co., and undertaking training as a Solicitor. I was a part of that law firm for 25 years and presently am the Managing Partner of MDP Associates.
Please give us a brief insight into your career so far.
I have completed 40 years as a solicitor and am very proud to have handled various verticals of law practice and excelled in all of them. During the initial years, we, at Wadia Ghandy, acted as solicitors to publishers of ‘Stardust’, ‘Society’, ‘Savvy’ etc and I got to handle some very interesting matters dealing with suits filed by film stars including Anupam Kher, Shabana Azmi & Javed Akhtar, Mamta Kulkarni, Dimple Kapadia etc – alleging defamation by virtue of an article published in the magazine, claiming damages and seeking injunction against future publication. Unfortunately, the laws in India were and till date continue to be such, that such litigation dragged on for so long, that there were instances in which the person claiming defamation and damages expired during its pendency, and the heirs could not continue since the cause of action no longer survived.
In the year 2005–06, I had the privilege of working alongside a team of expert professionals and advising on setting up the retail banking division of Barclays Bank Plc in India, including advice on the structuring and all documentation relating to various loan products offered by them. Soon thereafter, I had the privilege of working on a similar assignment from Deutsche Bank AG when it set up its retail banking division in India.
Looking back, what key experiences or turning points have most shaped your journey in the legal profession?
In the year 2000, Arvind Mills Limited, a major textile company, was undergoing restructuring to the tune of ₹2,500 crores and it submitted a scheme in the High Court of Gujarat. A consortium of foreign lenders led by Commerzbank AG was however opposing the scheme and during the course of our conferences with them, we realised that ICICI Bank, who was acting as Security Trustee to these offshore lenders and holding hypothecated assets on their behalf, had actually entered into a sale and lease back transactions to the tune of ₹500 crore in respect of the very same assets.
We therefore initiated legal proceedings in the Chancery Court in London for breach of fiduciary obligations as a trustee under the Indian Trusts Act and pronto, the claims of these offshore lenders were settled outside court. The scheme, which was later approved by the Gujarat High Court, became one of the most successful resolution processes in the country.
How has the role of a solicitor in India evolved over the years, particularly in corporate and commercial law?
Clients have become more demanding, competition is fierce, changes in law are on a continuous basis, and lawyers have to be on their toes all the time!!!
Could you share a particularly challenging professional situation and the key lesson it taught you?
Recently, we completed a landmark real estate transaction in Powai, which has a transaction value of about ₹600 crores, in which our clients were the landowners i.e. the Sharma family. This multifaceted transaction encompassed two principal components: The acquisition of shareholding in the SPVs by Moon Holdings (DIFC) Limited, a subsidiary of Brookfield India REIT, and the sale of approximately 24,024.08 square meters of prime land in Powai, Mumbai, along with permissible FSI. This 6-acre land is being developed as a Global Capability Centre (GCC), a 2 million sq. ft. facility, costing 1 billion USD.
MDP Associates also handled a complex transaction early this year, for Supreme Infrastructure India Limited, where its debt of ₹2,200 crores was settled and documentation was executed with 12 lenders consisting of State Bank, JM Financial, Canara Bank, ICICI Bank, Bank of India etc.
Both these transactions took between 18 to 24 months for completion, and it taught us the importance of two things – patience and perseverance. on your own merit.”
In your view, what qualities distinguish an exceptional solicitor beyond technical expertise?
Hard work, sincerity, keeping your cool in difficult situations, and the ability to sit back and find a resolution to the problems at hand in a rational manner is what set an exceptional lawyer from his/ her peers.
How do you approach ethical dilemmas, especially in highstakes or sensitive matters?
Honesty is a very integral part of the profession and the trust factor is very important. Over a period of time, a lawyer needs to build up confidence with clients and fellow lawyers, such that in high stakes and sensitive matters also, a solution acceptable to all parties can be thrashed out and matters are settled.
With rapid changes in technology and globalisation, how do you see the legal profession evolving in the coming years?
There’s a lot of loose talk about Artificial Intelligence (AI) replacing Human Intelligence, but in my view, that would never be possible!! Don’t forget that humans have created the software and the ability to think through complex problems, and coming out with a solution is what a human mind has been trained to achieve. Technology can, in fact, help lawyers complete their work more efficiently.
What advice would you give to young lawyers aspiring to build a meaningful and successful career?
There’s no quick fix solution to being a good and successful lawyer with a clean reputation, except putting in long hours of hard work and labour, patience, determination and the manifestation to succeed on your own merit.
The legal profession can be demanding — how do you balance your professional responsibilities with family and personal life?
It’s very, very difficult in the initial years to build up a successful practice as a lawyer, especially if you get married at an early age and have kids before turning 30. This is the phase of your life which can be most difficult, given the need to earn a decent income and at the same time, delivering to clients and measuring up to their requirements.
Of course, it becomes better and better after you have put in 1015 years of good, solid work in the profession. Work pressure then becomes a part of your life, such that sometimes you don’t know what to do if you have too much spare time on your hands!
Outside of work, what interests or activities help you unwind and maintain your overall well-being?
I have always believed in the age old adage: ‘All work and no play makes Jack a dull boy’.
I like to unwind by listening to music, watching movies, and spending time with family and friends. I am a member of the Rotary Club of Nariman Point and am actively involved in various activities for the welfare of the community, including healthcare, women’s empowerment, fundraisers for paediatric heart surgeries, blood donation camps, and donation of medical equipment to government hospitals.
