Changing Trends in Succession and Women in Boardrooms with Bijal Ajinkya & Nandini Khaitan

FLO Kolkata invited Legal Trendsetters Bijal Ajinkya & Nandini Khaitan, partners in Khaitan & Co. for the session, ‘Changing Trends in Succession and Women in Boardrooms’. Radhika Dalmia, Chairperson introduced the illustrious legal practitioners by saying, “You both are the voices of the voiceless, defenders of justice, and champions of equality that carry the weight of your responsibility with dedication and commitment.

FLO is truly privileged to have you both, we look forward to an enriching session.” Bijal Ajinkya is the first Indian qualified lawyer to be admitted as an international fellow to the The American College of Trust and Estate Counsel (ACTEC). She previously served as an officer-elect on the Individual Tax & Private Client Committee of the International Bar Association.

Nandini Khaitan has appeared at every level of the Indian judicial system, including the Supreme Court of India, High Courts, National Company Law Tribunal, National Green Tribunal, District Courts of Bombay, Delhi and Kolkata and other jurisdictions.

She has been recognized as The Economic Times 40 under 40 Business Leaders in India. Together, they led a session for the cohort that was deeply informative and interactive. Ms.

Ajinkya began the discussion by outlining the topics that would be discussed, be it preparing for a rainy day, or protecting one’s assets.“Today discussions and thoughts are extremely open. The country and economy will prosper when wealth is protected.” said Ms. Ajinkya.

The generations now would rather address their issues than sweep them beneath the carpet.” Ms. Khaitan pointed out that there are over 50 acts pertaining to women and encouraged those in the audience to search them up for themselves online. “We are not expected to know everything.

The best thing is to ask questions, and we can figure it out,” she said.“A lot of people feel when women come to know their laws, they will break up the family. It’s not like that. You are leading businesses, you are supporting businesses, so knowing helps you take the next step.”“When you see companies like Asian Paints, who for the last 60 years have had a 25%-30% profit margin and revenue growth, we must learn from them.

They segregated ownership from leadership. So the family could own, but the company was led by professionals. That is where you will not see emotions taking decisions. What drives a successful family is emotions and empathy. What drives a successful business is absolutely the reverse,” said Ms. Ajinkya.

Outlining the Indian woman’s legal rights as a daughter, a spouse, and as a mother, Ms. Ajinkya also spoke in depth on how simple tasks, like making a will for example, can help greatly when dealing with highly emotional and sensitive periods in one’s life.Ms.

Khaitan also spoke on how important it is to take one’s duties as an independent director or a woman in leadership very seriously. She outlined steps that the members could take to ensure that they are protected, by asserting themselves and insisting that they be made aware of the finer details.

“Ignorance of law is not an excuse in the courts,” Ms. Khaitan reminded those who were present. The speakers welcomed questions throughout the session, leaving the 80 members who attended, with a fresh approach to the workings of the legal systems in India.