The history of women foraying into the legal sector dates back to 1923. Only after passing the Legal Practitioners' (Women) Act, XXIII of 1923, which abolished the bar on women practicing law, the legal profession opened its doors to the female population of India. Since then, there has been no turning back. Women, as usual, have demonstrated their ability to turn the impossible into reality. Now, women are not just the lawyers practicing law in courts; they are the “boss ladies” who are establishing their own legal firms and carrying the legacy of Cornelia Sorabji, the first female barrister of India. And one such lawyer in the present day is Meenakshi Acharya.

Meenakshi, a law graduate, has nearly 14 years of legal experience. As a first-generation lawyer with no back-support or readily available clientele, she built her own firm, RMA Legal, from the very scratch with her partner Ravindra Avhad. She is a dedicated and self-disciplined individual who completed her working hours even during the pandemic.

Meenakshi graduated from Kishinchand Chellaram Law College in Mumbai in 2008. She has broad experience in mergers and acquisitions, private equity and investments, foreign investment policies (FEMA), corporate and commercial transactions and advisory, education, healthcare, information technology, intellectual property, manufacturing, capital markets, ecommerce, real estate, infrastructure, and employment & labour matters.

Meenakshi's experience working with top law firms in India, such as AZB & Partners, Thakker & Thakker, ARA Law, and Singhania & Co., has aided her in guiding RMA Legal to its current market position.

Introduce us to your firm, RMA legal.

RMA Legal (“RMA”) is a full-service law firm that provides end-to-end solutions to businesses, corporate entities, and individuals. It was founded by my partner Ravindra Avhad and me in 2015. He is an International Trade and Maritime lawyer and I was into corporate law for almost 14 years. RMA is built on knowledge, faith, integrity, and trust. Our goal is to be the firm of choice for all of our clients' legal needs, regardless of the nature, complexities, or dimensions of the matter.

Take us through your educational and professional background. How did the journey lead you towards the realm of law?

I completed my BCOM Honors from Shri Chinai College of Commerce and Economics, and I later passed the Chartered Accountants of India. I graduated from KC Law College in Mumbai with a bachelor's degree in law. Later on, I began my career as an internal auditor in a law firm, but it was there I was inspired to pursue law as a career. While pursuing law, I was offered a position as a paralegal at AZB & Partners, after completing the paralegal course/law, I was absorbed as an associate, where I was involved in corporate advisory, capital market, real estate and commercial legalities. After working there for over five years, I worked as an associate for ARA Law firm, where I gained experience with the legalities of e-commerce platforms and undertaking legal due diligences, FDI/FEMA compliances. Then I worked as a senior associate at Singhania & Co. My professional journey had been very rewarding, but I wanted to have my own law firm, which was also my mother's dream. As a result, I received tremendous support from my family and, along with my partner Ravindra Avhad, I founded this firm, and it is doing quite well so far.

“My areas of expertise include mergers and acquisitions, private equity and investments, foreign investment policies (FEMA/FDI), corporate advisory and commercial transactions, capital markets, ecommerce, real estate, infrastructure, employment and labour matters, education, healthcare, information technology, intellectual property, manufacturing.”

Tell us about the current state of corporate law advisory industry in India. How big is the market and in your opinion what opportunities does the sector hold for upcoming service providers in the near future?

The COVID situation is presenting several opportunities in various fields. The market for service providers is huge. Many startups are emerging, and we can see those startups raising funds as well. There may be a slowdown, but things are moving gradually. And we are collaborating with many such companies and individuals for work.

The current market trends have changed a lot. It had become completely technology driven; we never thought a lawyer would work from home without any physical meetings with the clients. But now virtual hearings are taking place and things haven't stopped.

Tell us about the various practice areas that RMA legal specializes in. In your opinion what factors set the firm apart from its contemporaries in the industry?

RMA is a one-stop solution for all types of legal services for individuals and businesses, both domestic and international. Corporate & Commercial Law, Private Equity Investment, Mergers & Acquisitions, Capital Markets, Infrastructure, Real Estate, Maritime Law, Intellectual Property, Telecommunication Media Technology, Employment & Labour, Education, Healthcare, Information Technology, Manufacturing, Dispute Resolution & Litigation are some of the areas in which we specialize.

We offer a wide spectrum of solutions in varied practice areas as well as in different geographies. We also have Ex RBI officers and other senior consultants on board to assist the banks and clients as well.

“The current market trends have changed a lot. It had become completely technology driven; we never thought a lawyer would work from home without any physical meetings with the clients. But now virtual hearings are taking place and things haven't stopped.”

How has your professional growth journey been so far? What are the different facets of your personality or your leadership style that have helped you propel the company further?

My career journey so far has been extremely rewarding. The focus throughout the early stages of establishing a new firm was solely on business development. I had to start from scratch because I was a first-generation lawyer with no back support or readily available clientele. We started with all of our existing contacts, met new people and collaborated with them, rented an office, and basically started from the bottom. Of course, any new beginning has its ups and downs, and we did as well. However, my family, especially my mother, was extremely supportive and that kept me encouraged, to stay positive, work hard, and never gave up.

I give it my best; even during the pandemic, I went to office and completed my office hours because if I was laid back, so would my firm, and things will get into different tangent. Self-discipline, being dedicated, encouraged and enthusiastic had made me what I am today and it has worked for me.

The legal landscape of the country is ever evolving. How do keep yourself well aligned with industry related evolutions and changes? Are you looking to focus on any specific areas or niche capabilities in the days to come?

Obviously, the legal sector will have several changes and amendments every now and then. The first thing we do every day is to go through all official websites and check for the updates. It will be on our to-do list and I have made it mandatory for every one of us in the office. It is not just we but it is very important for the clients too to keep updated with all those changes.

During COVID, there has been an increase in demand for employment and labor-related issues, so we have begun to address them. Startups are raising funds, and a few are going public, so we're now dealing with IPO issues as well.

What would your advice be to young women who aspire to foray into the field of corporate law?

We live in the twenty-first century, and everyone knows exactly what they want to do. I've seen a lot of young girls choosing law as a career path. If you want to work in the legal field, my advice is to not limit yourself to just one type of work; there are many others to choose from. The legal field includes both the judiciary and the corporate sectors, and there are many opportunities for women in the corporate law sector these days. But, end of the day do what makes you happy.

Meenakshi Acharya, Founding Partner, RMA Legal

I have been awarded as one of the Top 50 legal Falcons at LexTalk World Conference, U.A.E. 2021 and again selected for the year 2022; The Indian Achiever’s Forum has awarded RMA Legal as the Indian Achievers Award 2021 for Emerging Company and also received an Entrepreneur of the year 2021 in recognition of outstanding Professional Achievement & Contribution in Nation Building.