What are the most significant cases or transactions that you have been involved in over the past year?

PayU is a group of companies in India backed by Prosus which is one of the largest technology investors in the world, with a significant portfolio of investments in India including in the fintech sector. As such, the range of work we do is very vast and covers a number of aspects at a macro level such as helping manage the investment portfolio, assisting in M&A activities and integrating any companies we acquire with the broader Prosus/ PayU ecosystem. This involves operating in a multinational environment within a nuanced matrixed structure involving multiple stakeholders across India, South East Asia and Europe.

At operating levels, given that most of our companies have a direct or indirect line of supervision going into the RBI which is the regulator for payments and financing activities, we not only place a great amount of emphasis on operating in a compliant manner but also strive to set industry standards in terms of sustainable and compliant business practices. This also includes maintaining close coordination with regulators, industry associations and policy advocacy bodies. On the payments side, being one of the foremost payments solutions provider in the country, our work involves multiple types of arrangements with banks, card networks, NPCI and other players in the ecosystem on the one hand and several top merchants and business houses on the other to who we offer our solutions. On the credit side, our work involves setting up multiple sources of funding for our businesses and offering credit through digital means to a number of individuals and businesses. We also have a large presence in the banking ecosystem as a service provider to banks which requires setting up numerous types of arrangements with banks in India and overseas. PayU is also a user and provider of multiple types of services involving cutting edge technologies including AI and ML that require an understanding of emerging technologies and associated legal/regulatory nuances.

Based on your experience, what is the key to collaborating successfully with business partners?

It goes without saying that functions such as legal need to define the risk appetite of the organisation and create a framework that enables business growth in a sustainable and compliant manner. At the same time, the legal team has to understand the needs of business partners and their imperatives, in order to play the role of an effective enabler. It is only with such a collaborative approach that the legal team can earn the trust of business partners which also helps in better absorption/acceptance of the boundaries by the business partners that control functions such as legal so keenly wish to achieve.

How do you motivate and manage the other members of your legal team well?

The key is respect coupled with intellectual challenge. The ability of a leader to do hands on work with the team with a “sleeves always rolled up” approach is critical to keep the team engaged and motivated. The leader also needs to always “outwork” the team members as necessary and be a genuine friend in times of need. These help create relationships that last a lifetime.

Are the effects of AI on the legal world overplayed, or underplayed?

AI still needs some evolution in order to be fully effective in helping legal professionals. The legal profession is all about precision and deep understanding of issues. AI tools are helpful in providing quick bird’s eye understanding of legal issues but at this point the good old ways of research coupled with real life practice experience are still critical. In some other areas such as contract administration and review and analysis of documents, AI tools are very helpful. However, I believe AI developers need to engage with legal experts in order to devise tools that can benefit the legal community in a concrete manner.