The modern business world is increasingly complex, with legal intricacies permeating every aspect of personal, professional, and business life. Navigating this complex landscape requires more than just legal knowledge; it demands a deep understanding of how to apply that knowledge effectively to achieve desired outcomes. Recognized as one of the most influential lawyers, Sumes Dewan, the Managing Partner at Lex Favios, makes all the difference in successfully resolving legal matters and disputes.
A Legal Excellence of the Highest Degree
With over two decades of unparalleled experience in the legal domain, Sumes stands as a formidable leader and trusted advisor in the Indian legal landscape. He brings exceptional expertise in handling a diverse array of complex and high-stakes transactions across sectors, both domestically and internationally. His expertise spans cross-border deals, mergers and acquisitions (M&A), international listings, project financing, and corporate law advisory.
Sumes has been instrumental in advising large Indian corporations, multinational companies, including Fortune 100 firms, and foreign investors on cross-border mergers and acquisitions, project financing, international listings, and regulatory compliance. His extensive knowledge of foreign investment in India, corporate laws, joint ventures, FEMA regulations, and banking and finance laws positions him as a strategic legal expert for businesses navigating dynamic global markets.
Renowned for his ability to structure and execute intricate transactions, Sumes advises clients on foreign exchange regulations, regulatory clearances, tax-efficient structuring, and legal strategies for domestic and cross-border acquisitions. His counsel has proven invaluable in setting up joint ventures, resolving complex collaboration agreements, and facilitating foreign investment initiatives.
Recognized with Accolades
Sumes’s dedication and professional achievements have earned him several prestigious accolades. In 2022, he was honoured with the Indian Achievers’ Award for Entrepreneur of the Year and the Global Lex Falcon Award (above 10 years category) at the LexTalk World Conference in Dubai. He has been recognized as one of India’s Top 100 Lawyers by India Business Law Journal and was awarded Best Real Estate Lawyer of the Year by BW Legal World. Sumes has been honored as an A-List lawyer—India’s most recommended lawyer by the India Business Law Journal.
Under his leadership, Lex Favios continues to thrive as a prominent player in the legal domain. The Firm has earned recognition as a Notable Law Firm by Asia Law for its expertise in Banking and Finance, Capital Markets, and Corporate and M&A. Recently, the Firm was awarded “Boutique Law Firm of the Year (Hospitality)” at the 13th Annual Legal Era Indian Legal Awards 2024.
The Journey Begins: A Passion for Law
Sumes’s fascination with the legal profession began during his formative years, driven by a desire to contribute meaningfully to society. Starting his career as a litigator in 1995, he soon realized his true calling lay in corporate law. His early years were shaped by the mentorship of legal luminaries such as Senior Counsel Harish Malhotra, Ravi Singhania, and Diljeet Titus.
Working with esteemed firms like Fox Mandal and Desai & Diwanji provided Dewan with invaluable exposure to diverse areas of corporate law practice, many of which were still evolving in India at the time. This rich foundation laid the groundwork for his eventual entrepreneurial leap.
The Birth of Lex Favios: Breaking New Ground
The watershed moment in Sumes’s career came in the year 2014 when he founded Lex Favios. This decision wasn’t just about starting another law firm—it was about creating an institution that would break away from the traditional family-dominated law firm model and establish new benchmarks in legal service delivery.
With a vision to build a merit-based organization where every team member could be a stakeholder in its growth, Lex Favios quickly earned a reputation for its client-centric approach and innovative legal solutions. The Firm’s work spans sectors such as hospitality, real estate, project finance, and banking, handling complex transactions and regulatory challenges with finesse.
Driving Principles of Success
At the core of Sumes’s philosophy are three guiding principles: excellence in legal service, continuous evolution, and value creation for stakeholders. Success in law isn’t just about winning cases or closing deals—it’s about building lasting relationships and trust.
This relentless pursuit of excellence has propelled Lex Favios from a fledgling startup to a respected name in the field of corporate law. The Firm’s ability to handle high-stakes transactions and deliver tailored solutions has earned the trust of prestigious clients, including the State Bank of India, Godrej Industries, and Radisson Hotels.
Sumes has acted as legal counsel for several high-profile hospitality transactions, including Hilton Gurugram Baani City Center, IHCL SeleQtions Amritsar, ITC Rishikesh, and Lemon Tree Goa.A Visionary Approach to Leadership
Sumes’s leadership philosophy centres on fostering a culture of excellence and innovation. Lex Favios built a culture where legal expertise meets innovation and where each lawyer has the opportunity to grow and contribute meaningfully to the Firm’s success.
The Firm strongly emphasizes talent development, offering competitive remuneration and clear growth paths. Its unique remuneration model, which combines fixed and variable components, has helped it retain quality talent while aligning individual goals with Firm objectives.
Client satisfaction is paramount at Lex Favios. Sumes ensures his direct involvement in client matters, fostering a collaborative environment where different practice areas work seamlessly together to deliver comprehensive legal solutions.
Innovation: Balancing Creativity and Compliance
In an industry where innovation is crucial, Sumes believes in balancing creativity with compliance. He says their strategy focuses on finding innovative ways to structure transactions and resolve complex legal challenges while staying firmly within regulatory boundaries.
Lex Favios has pioneered new approaches to cross-border transactions, accommodating both Indian regulations and international business needs. The Firm has also embraced legal technology to enhance service delivery, leveraging modern project management techniques to handle complex matters like international listings and M&As more efficiently.
Commitment to Sustainability
Sustainability and environmental responsibility are integral to Lex Favios’ operations. Sumes ensured that sustainability principles were integrated into their advisory services, particularly in areas like corporate governance, project finance, and M&A due diligence.
The Firm actively advises clients on incorporating sustainability metrics into their business operations and legal documentation. Internally, Lex Favios has adopted paperless operations where possible and encourages eco-conscious practices.
Overcoming Challenges: A Story of Resilience
Challenges marked Lex Favios’s early days as the firm sought to establish itself in a competitive market dominated by established players. The first year was particularly challenging, as convincing clients that a boutique firm could provide the same quality of service as larger firms required persistence and proof of capability.
Through an unwavering commitment to quality and personal attention to client matters, the firm secured mandates from major institutions such as the State Bank of India and the Steel Authority of India. These early successes helped establish Lex Favios’ credibility and attract top legal talent.
Diversity and Inclusion: A Core Value
Diversity and inclusion are fundamental to Lex Favios’ culture. The Firm’s recruitment process is designed to be bias-free, focusing solely on merit and potential. The Firm actively mentors young lawyers, particularly women, to take on leadership roles.
Flexible working arrangements and support systems have been implemented to retain talented professionals, especially working parents. The partnership track is purely merit-based, ensuring equal opportunities for advancement regardless of background or gender.
Advice for Aspiring Lawyers
To young legal aspirants, Sumes offers valuable advice: Develop deep expertise in your chosen area of practice. The legal profession today demands specialists who can provide nuanced, industry-specific advice. Focus on building strong foundational knowledge while staying current with emerging legal trends.
He also emphasizes the importance of embracing technology and innovation. The future of legal practice will be increasingly technology-driven, and understanding legal tech tools and their applications will be crucial for success.
Maintaining the highest ethical standards and investing in building relationships is equally critical. Law is ultimately about trust and credibility. Network within the legal community, find good mentors and never compromise on integrity. Remember that success in law is a marathon, not a sprint—focus on continuous learning and improvement rather than quick wins.
Sumes encourages young lawyers to explore emerging fields like technology law, environmental law, and international arbitration. These areas present immense opportunities for those willing to innovate and adapt.
Shaping the Future of Legal Practice
Looking ahead, Sumes envisions Lex Favios continuing to expand its expertise, foster innovation, and mentor the next generation of legal professionals. The Firm is not just about legal practice; it’s about shaping the future of the profession, advocating for meaningful change, and upholding the principles of justice.
Sumes journey exemplifies visionary leadership, resilience, and an unwavering commitment to redefining legal excellence. His contributions to the legal profession and his efforts to build a dynamic, inclusive, and innovative law firm continue to make a lasting impact on India’s legal landscape.
Sumes vision, expertise, and dedication have firmly positioned him and Lex Favios as frontrunners in delivering innovative and impactful legal solutions in India and beyond.
