Former Desai & Diwanji Delhi head Sumes Dewan has started up a new law firm Lex Favios with offices in Mumbai and New Delhi.

Capital markets expert Dewan specialises in private equity investment and real estate, and will run the firm with fourteen other attorneys. Lex Favios has seven practice heads including Dewan. He is joined by Fox Mandal partner Indranil Ghosh, who is now head of the new firm’s litigation practice, and banking specialist Sandeep Menon who has become the Mumbai office head. 

A clear partnership structure is yet to be established at the new law firm, which remains relationship-based.

“What we’ve done is we’ve taken each member [who was] a senior member of a firm, someone who had exhaustive experience in a particular area or practice,” Dewan says. “Right now our focus is more on the banking practice and finance practice which typically happens from Bombay.”

The Desai & Diwanji Delhi office is now managed by five partners promoted in 2013, which – prior to Dewan – was headed by corporate practice team leader Amit Khansaheb who has since moved to BMR Legal.