Mehak Khanna: Antares Legal Partner on Corporate Commercial Law India

• Mehak Khanna is a corporate and commercial lawyer with over 17 years of experience, currently a Partner at Antares Legal, following senior in-house roles at Airtel and Lenskart.
• She advises on M&A, private equity, fundraising, commercial contracts, and regulatory matters across diverse sectors in India.
• Khanna emphasizes that startups frequently make legal and governance mistakes, such as unclear founder arrangements and inadequate IP ownership, which are more costly to fix later.
• She views compliance as evolving from a mere regulatory checklist into a strategic business function that enables sustainable growth and informed decision-making.
• Her experience as both in-house and external counsel provides a unique perspective on delivering comprehensive and business-oriented legal advice.

Building these foundational legal elements early is significantly easier and less expensive than attempting to rectify them at a later stage.

Mehak Khanna stands as a prominent figure in the realm of corporate and commercial law in India, boasting over 17 years of extensive experience that spans both private practice and senior in-house legal leadership. Her professional journey has seen her contribute significantly to major organizations such as Airtel and Lenskart, before her eventual return to private practice as a Partner at Antares Legal. Throughout her career, Khanna has provided expert counsel on a diverse array of legal matters, including Mergers and Acquisitions (M&A), private equity and venture capital transactions, fundraising initiatives, complex commercial contracts, and intricate regulatory issues.

Her advisory work has touched upon emerging businesses across a wide spectrum of sectors, including technology, e-commerce, retail, telecommunications, fintech, gaming, digital platforms, sports, media, and sustainability. This broad exposure has equipped her with a comprehensive understanding of the legal landscape impacting modern enterprises. Her academic foundation, an LLM in corporate and commercial laws from the London School of Economics and Political Science, where she graduated with high merit, further solidified her analytical approach. This international perspective, combined with an emphasis on understanding the underlying purpose of legal issues, has proven invaluable in navigating India's dynamic and often complex regulatory environment.

Drawing from her active involvement in initiatives like the Airtel Startup Accelerator Program and the Lenskart Accelerator, Mehak Khanna frequently observes common legal and governance mistakes made by Indian startups in their formative stages. A significant pitfall is the tendency for companies to postpone addressing crucial legal and governance matters until their business has already achieved substantial scale. This deferral often leads to more complex and costly rectifications down the line.

Among the most prevalent issues Khanna identifies are unclear founder arrangements, suboptimal cap-table management, inadequate intellectual property (IP) ownership structures, poorly drafted day-to-day business contracts, and insufficient regulatory planning. Lawyers advising startups should proactively address these fundamental elements from the outset. Building these foundational legal elements early is significantly easier and less expensive than attempting to rectify them at a later stage, underscoring the critical importance of robust legal frameworks for sustainable growth.

In her capacity as Chief Compliance Officer at Lenskart and a legal leader operating across multiple jurisdictions, Mehak Khanna has witnessed a profound evolution in the role of compliance. It is increasingly recognized as a strategic enabler for sustainable growth, moving beyond its traditional role as a mere regulatory checklist. Compliance officers should note this shift, as embedding compliance within core business processes transforms it into a powerful tool.

When compliance is integrated effectively, it empowers organizations to identify potential risks at an early stage, facilitating more informed decision-making and fostering an environment where innovation can thrive with greater confidence. Ultimately, cultivating a strong compliance culture not only builds resilience against unforeseen challenges but also strengthens trust among stakeholders, contributing directly to long-term business success.

Khanna's career trajectory, encompassing both private practice and senior in-house roles such as Airtel Lenskart General Counsel, provides her with a unique and comprehensive understanding of legal advice from dual perspectives. She highlights that in-house counsels are intrinsically embedded within the business, possessing an intimate knowledge of its priorities, risk appetite, and operational realities. Conversely, external counsel, like a Partner at Antares Legal, offers independence, specialized expertise, and a broader perspective gleaned from experience across various businesses.

The most effective legal advice, according to Khanna, is one that successfully integrates both these viewpoints. She advocates for legal teams to act as facilitators of responsible innovation, proactively identifying risks and offering practical, workable solutions, rather than simply adopting a prohibitive stance. This balanced approach ensures that legal guidance is not only technically sound but also strategically aligned with business objectives.

Lawyers advising startups should proactively address common legal and governance pitfalls like unclear founder arrangements and IP ownership from the outset to prevent costly fixes later. Compliance officers should note the evolving role of compliance from a mere regulatory checklist to a strategic business enabler for sustainable growth and informed decision-making.

Source: Original reporting based on an interview with Mehak Khanna.