Three partners from Trilegal, Allen & Overy’s Indian alliance partner, have left with a Kochhar & Co banking partner to create a new firm.

Abhushek Saxena, Saket Shukla and Sawant Singh (pictured) from Trilegal, and Kochhar’s Manjula Chawla will move to create a corporate specialised firm named Phoenix Legal.

Trilegal’s managing partner, Anand Prasad, praised the three partners and supposed ambition as a driving factor for the move.

“There is significant market opportunity that exists, and I think it’s more to do with finding more potential for themselves,” he said.

In February, Allen & Overy formed an alliance with Trilegal which gave them access to training and referrals.

Prasad said that the alliance is not likely to be affected by the breakaway.

“The alliance is extremely strong. I doubt that the [breakaway] will be able to do much to our firm, but let’s see.”