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Mindcrest to expand LPO centre
The Times of India
November 2008
Legal Process Outsourcing company Mindcrest has plans to expand its team in the city from 400 now to about 900 in the next year. The Chicago, US based company is also planning to start its own education and training arm to develop human resources relevant for its business and to eventually offer facilities to students and other organizations.
Mindcrest founder and CEO, Ganesh Natarajan told TOI that the company is in the process of expanding its operations, as it estimates significant growth in business coming in the next few months. “The financial crisis in the United States and Europe will mean a wave of outsourcing for the legal process outsourcing players,” Natarajan said.
The firm has a sizeable client base in the US and offers services in contract management and document services, research and drafting, legal process services and legal content services. It has a base of 450 lawyers working in Mumbai and Pune. Natarajan said the US economy – its financial sector in particular, has taken a bad hit, following which work in the areas of credit, finance or mergers and acquisitions has seen a fall.
“At the same time there are bankruptcies on the rise where lawyers play a crucial role,” he pointed out, adding that the regulatory procedures that the new Obama administration in the US is planning to put in place will create additional avenues for legal services, especially in the compliance area. The training and education arm – Mindcrest University will be operational sometime soon, he indicated.
Natarajan informed that the company has been funded to the extent of $4 million by Private Equity firm Tallon Management in 2006. More funding from private equity players may come in, but there are no ready plans for this, he said.
