Internship @ Vaish Associates, Mumbai: FDI and Corporate Laws Research, Fun Place to Work, Rs.5000 Stipend

Name of the organization. City

Vaish Associates, Mumbai

Directions

The office is located at 106, Peninsula Centre, Dr. S. S. Rao Road, Parel, Mumbai. If you are taking the locals, you may get down at Lower Parel station – EAST (Western line) or Currey Road station- EAST (Central Line).

The office is a good 15-20 minutes’ walk from both these stations. Get down at EAST side. Remember, the local vendors may confuse you to head towards the opposite direction as there are lots of buildings named “Peninsula” – Peninsula Corporate Park / Peninsula Business Park, etc.

So, better stick to Peninsula Centre only, Income tax office or ITC Grand Hotel being the nearby Landmark.

Basically, you just need to keep walking straight and cross the bridge at Currey road station, heading towards income tax office and then take a left. Entry is through Gate no. 2. The Vaish office is on the First floor.

In my time, there was some construction going on since months, so the whole path was made one-way. So, I could not manage to fetch a straight away cab easily while going to office. You may try your luck once.

Ideally, it should not cost you more than Rs. 21 but the cab driver will bring you from a completely different path because of one way roads, so the meter can go upto Rs. 50. So, be prepared accordingly in the HUMID Mumbai weather!

Duration of the internship. No. of days/week. Timings

August 4- August 29, 2014: 4 weeks; Six days a week (except, 2nd & 4th Saturdays are off); 10am- 8pm officially

Timings are little flexible, it’s okay if you reach by 10.30am and leave by 7.30pm if you are done for the day. (But do stay back till 7.30pm; you never know you may be allotted work even at 7.25pm.)

BUT, be punctual on Mondays, as there is early morning session, where all the partners, associates and interns gather in conference room at sharp 10am and discuss the recent amendments or notifications of SEBI/ RBI/MCA.

Usually, one of the trainees just read out the recent amendments and everybody else just follows on the projector. It usually lasts for 45 minutes-1 hour. So, you need not necessarily be prepared for every Monday sessions, unless you are one giving the presentation.

Girls are encouraged not to stay back beyond 8pm as it gets darker. However, guys may be asked to stay back for a while if workload demands. Working Saturdays are comparatively chilled, relaxed and colourful. You may wear casuals and leave by 5.30-6pm.

How big was the office? Team strength?

Popularly referred to as VA, it was set up in 1971 by Mr. O.P. Vaish. The Mumbai team is headed by Mr. Bomi Daruwala, Senior Partner and the team strength is 25 approximately.

The office is decently sized and spacious. All associates and partners sit on one side of the office, whereas there is a separate room for interns (giving us sufficient privacy) on the opposite side. Each intern gets a separate computer/laptop, phone, and water bottle and can access Manupatra. Library is also well stocked and updated.

The website may be accessed HERE. Contact number: +91 22 42134101

Application procedure. Internship contact details

You send in an email attaching your resume to [email protected]

The prospective intern is asked to fill in an internship application form as part of the internship procedure. You are then required to clear a telephonic interview. They usually send last moment confirmation. Avoid following up with calls, as they may get irritated.

Accommodation: how, where, how was it?

I am a localite, so not an issue for me. For outsiders, there are lots of PGs and hostels are available. You may fetch PGs through brokers, although they may be little expensive. For interning here, you may take PGs in the Central Line (which is quite cheaper than western line).

For Girls, there are several PGs and hostels in Byculla & Mumbai Central.

For Boys, there is a popular cheap PG named Seva Niketan, which is Sodality House, Near Byculla Bridge, Sir J J Road, Byculla, Mumbai – 400027. It’s basically kind of dormitory, though not very comfortable, but it’s definitely cost effective.

BUT remember, there are NO charging sockets in the room, but only in the common reception area. The only exception is the single seater room (Rs. 400/night) which provides you with a socket. The rates are exclusive of food.

Other rooms are:

a. 2 seater– Rs. 300/night

b. 3 seater– Rs. 200/night

c. 4 seater– Rs. 190/night

d. 8 seater – Rs. 150/night

e. 14 seater – Rs. 110/night

First impression. First day, formalities etc.

The HR introduces you to every associates, senior associates and partners. At the end you meet the partner, Mr. Hemant Puthran, who heads the interns. He asked general questions about my family, stay, field of interests, etc.

That’s it, and in no time you’ll start getting calls for work.

The office has a small cafeteria, with a coffee machine, refrigerator and microwave. The interns may also use the same.

You are served tea/coffee in morning and evening. In coffee, you have espresso, cappuccino, latte’. In tea, you have green tea and normal tea. You may also ask for hot chocolate, which is similar to bournvita.

Main tasks (in detail)

I worked on the following assignments:

1. Research on exclusion of liability in tripartite agreement u/s.28 of Indian Contract Act

2. Extensive research on scope of cost of acquisition

3. Extensive research on whether lease and license is included in encumbrance

4. Extensive research on s. 101 & 175 of Companies Act, 2013

5. Scope of ‘Fraud’ & ‘Misrepresentation’ under the Indian Contract

6. Prepared a synopsis of the exhibits attached to a petition in a pending Litigation.

7. Assisted in compiling and arranging documents related to a pending litigation

8. Prepared an index of documents.

9. Researching on the changing FDI Policy with regards to power exchange

10. Compliances required to set a branch office by a domestic company in Mumbai

11. Thin capitalization under new Companies Act.

12. Extensive research on Arbitration and Limitation Act.

13. Applicable stamp duty in Dadra and Nagar Haveli

At the end of my internship, I was also required to make a presentation on REITS and the concerned draft regulation by SEBI on the same. The same was attended by partners and associates, and we had a good 1.5 hours fruitful discussion on the same.

One unique practice followed here is the “Free to work” mail. Whenever an intern is idle and wishes to work, he may send a mail to all the associates with the subject “Free to work”, with his name and extension in the body of the mail. And once again, in no time, the work will start piling on you.

Work environment, people

Most of the associates are really kind, cooperative and patient. Some even take the pains to explain you the whole background of the research and the way you should proceed with the research. They’ll explain what they’re looking for and give you the context in which you are researching.

Generally you’ll be provided with a decent deadline unless the matter is too urgent. So usually, you’ll have enough time to complete the research and be ready with an answer when they require. Meanwhile, you may approach them for any queries and they are extremely patient to solve the same.

At the same time, few of the associates are bossy and little mean as well. Thus, almost everyone was approachable for clarification of any doubts. The support staff was always ready to help.

Unlike other law firms, the work environment is comparatively cooler and relaxed here. Not even a single day have I experienced any partner screaming over some associate or junior (which did happen in other law firms).

Moreover, the HR here keeps a track of all the interns. He visits the interns room 3-4 times a day to ensure all the interns have work.

Best things? (Nothing is all bad)

Definitely- the work environment and the people.

Flexible timings were also helpful, it isn’t mandatory to reach at sharp 10am. Whenever, you are required to stay back beyond 10pm, the dinner is sponsored by the office. (You may order from Dominoz or Seven Spice- as that delivers the quickest.)

Also, whenever a partner returns from foreign meetings, he brings chocolates for everybody; and on Saturdays, you get parshad.

On associate’s or partner’s birthday, the whole office gathered in one of the conference room, where cake was cut, and then the office sponsors lunch for everybody- biryani, snacks, etc.

Bad things? (Nothing is all good)

There are times when you are done with your work by 5pm, but you have to wait till 7.30pm even if there’s no work. So, you either sit idle, or do timepass, or send a “Free to work” mail.

And of course the daily 20 minutes long walk in the humid weather!

What did you do to chill? Co-interns, colleagues

My co-interns were amazing. All of us were usually busy, so an hour’s lunch time was the time we socialized.

There is a canteen on the second floor, where you get delicious thali costing Rs. 30. Monday to Friday, you get dal, sukhi sabji, rasili sabji, 2 rotis, chawal and papar. An extra roti will cost you Rs. 5 each. On Saturday, you get veg pulao/biryani, chola, salad raita and some sweet. You may even opt for a smaller thali of Rs. 20 where you get only one sabji, 2 rotis and papar.

PS- The canteen is of some other office, however as long as you are dressed well and formally, nobody will bother. Just pay, eat and return. We did it for full 4 weeks!

For those who carry their lunch, they may have it on their desk itself or in the pantry, where you can use the pickle and ketchup as well. They may even carry their tiffins in the canteen on the second floor and have it there. Also, in case you want to have home cooked food, you may opt for tiffin system (dabbawalla’s of Mumbai) which may deliver the food in the office directly.

In the evening, we took a short break, where we went down for smoke, tea and snacks. Do try amazing ‘kulhar chai’, just cross the road and walk towards your left for three minutes. At the same place, you’ll get yummy vara-pav, sandwich, dabeli, bhel, etc.

Moreover, the office is in the same building as the offices of a radio station and a newspaper. Luckily, we spotted a popular Bollywood celebrity which had come for its upcoming film promotion.

Stipend/month

Rs. 5000/month

Anything else you’d like to tell; Biggest lessons

It’s a fun place to work and learn.

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