Advocacy with Clarity, Judgment with Care | Nistha Soone | The Counsel's Code

In this episode of "The Counsel's Code," we are joined by Nistha Soone, Assistant General Counsel at Slice. She shares her journey from top-tier law firms to the fast-paced world of fintech, offering candid insights on why the "buck stops at you" in-house, the power of women GCs, and the critical importance of ethical AI.

Meet the Speaker: Nistha Soone

We are thrilled to feature Nistha Soone, the Assistant General Counsel at the innovative fintech company Slice. With a strong foundation in corporate law and private equity, Nistha's career began at AZB & Partners.

She then moved to Shardul Amarchand Mangaldas and later served as Counsel at Trilegal, honing her expertise in venture capital, corporate governance, and regulatory compliance. She holds her B.A. LLB from NALSAR University of Law and pursued further legal studies at Santa Clara University School of Law.

Key Insights from the Conversation

What inspired you to pursue a career in law?

Nistha was "supposed to be" a doctor or engineer and started 11th grade in the science stream. However, a "life-transforming experience" of watching a live court hearing at the Supreme Court changed everything. She was so inspired that she switched to Arts in her 12th standard, with a clear determination: "I want to be a lawyer, and I want to be a corporate lawyer." She was fascinated by "watching industries build, grow, expand, and watching the interplay of money and regulation."

Can you share your journey as a legal professional?

Nistha started her career at AZB & Partners, which she calls the "founding stone" of her career. Her time there gave her not just technical skills but also critical soft skills, like "multitasking, client facing at a young age, [and] being able to develop soft skills to be able to say no to a client."

She then moved to Shardul Amarchand Mangaldas, where she focused on strategic investments, and later to Trilegal as Counsel, where she was "given so much responsibility." However, as a transactional lawyer, she realized she only saw part of the story—often after the term sheet was signed. She had a "burning desire" to see the full lifecycle: "How do businesses grow? How are decisions taken in a room?" This desire motivated her to move in-house, leading her to Slice.

What differences have you seen between Law firms and corporate?

Nistha describes the two as "Mars and Jupiter," but clarifies that "one can survive without the other would be a wrong statement."

She explains that in-house lawyers are often "so focused on our business structure [and] our risk appetite" that they lack the "wider perspective" of how market peers are acting or how regulators are interacting in other jurisdictions. This is where law firms are essential. They provide "niche projects," "speed," "efficiency," and the expertise of the "absolute best legal minds."

What’s been the biggest surprise about working in-house?

"Every day is a surprise," Nistha laughs. "You don't know whether you're going to be the hero, the villain, or the court jester." She notes her schedule of 10 items often gets replaced by "five other SOS calls."

The key skill is agility and knowing "what is urgent and important," because "every problem will disguise itself as urgent and important." She uses a four-quadrant grid to prioritize. The biggest difference? "The buck stops at you." In-house, you must make a recommendation and "stand by your decision," which is a very different pressure than in a law firm.

How do you take help from law firms?

Nistha is clear that in-house counsel cannot be "expert of all laws." The skill, she says, "lies in knowing what I do not know and where I need to seek help." Her team engages law firms for "nuanced aspects," large, complex deals, or matters involving multiple regulators. Her background in law firms helps her identify "which are the right minds working on it" and "where can I get advice worth the money."

What’s the most misunderstood aspect of being in-house counsel?

"The most misunderstood aspect is we love to say no," she states. "We don't love to say no. We want to say yes, but not at the risk of exposing the organization." The goal is to be seen as "enablers, not blockers." This requires proactively "helping the business solve problems" and "coming up with a practical solution." When you build that trust, business teams will "proactively involve you in problem statements before the problems have officially arisen."

What’s one essential skill lawyers need but isn’t taught in law school?

"It's okay to not know everything," Nistha shares. "You have to get comfortable with the fact that every problem is not going to be black and white; it's going to be gray." The most important skill is "the confidence to be able to walk into the room and answer, 'I don't know, but I'll figure it out.'" This also means having the courage to "know where to get help from," whether it's law firms, financial advisors, or industry peers.

How do you manage stress in high-pressure situations?

"You start your morning with yoga, and if you have a bad negotiation day, you do kickboxing," she jokes. On a serious note, she emphasizes "multitasking like never before" (without sacrificing quality) and using her four-quadrant method to prioritize.

Critically, she stresses the importance of "ask[ing] the right questions." Lawyers can be "so excited to solve" a problem that they "don't take that extra time to sit with the problem and wonder, 'Is there more to it than what meets the eye?'"

How are Woman GCs shaping legal industry?

"Women lawyers have precision in advocacy and empathy in judgment," Nistha says. She believes "the kind of EQ and the emotional intelligence that a woman can bring in a room where tensions are high... is absolutely priceless."

She notes that women have learned to "read the room before even a word is said," a skill AI cannot replicate. "We are... evolving cultures of workplace," she adds, especially in law, which is "prone to burnout." Women leaders "render it with a very soft and emotional aspect where we appreciate productivity, but we at the same time appreciate work-life balance."

Case Study

Nistha discusses the critical, emerging case study of Ethical and Responsible AI Deployment.

• The Issue: As a lawyer, how do you advise your company on using AI? She says you must approach any AI deployment "as if you were going to defend it in the Supreme Court."

• The Landscape: She praises India's "innovation-friendly" government and RBI, which are laying down "fundamental principles and tenets" (like the "seven sutras") rather than "clamping down" on innovation.

• The Challenge: A key question is whether using a third-party AI solution constitutes "outsourcing" for a regulated entity. The answer is nuanced, but regulators are suggesting it is not outsourcing, provided you have "done certain XYZ things."

• The Takeaway for Lawyers: This means lawyers must know what "should be included in our contracts," what the "audit mechanism" is, and if there is a "kill switch." She also points to a recent Delaware judgment where a law firm was fined, made to issue a public apology, and forced to take training for using "hallucinating" AI that invented false case citations. The key, she concludes, is "human intervention and oversight."

About "The Counsel's Code" Podcast

"The Counsel's Code" is your go-to podcast for exclusive interviews with top legal executives. Discover the strategies they've employed to cultivate their careers, excel in their positions, and emerge as true leaders in their organizations.

Throughout our discussions, we delve into the challenges of leadership and how these accomplished professionals manage the pressures that come with it. Our mission is to provide valuable insights and support for in-house counsel, fostering mutual growth and development.

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Disclaimer: The views expressed in this podcast are the speaker’s personal opinions and do not necessarily reflect the positions of the podcast, Volody, or any current or former employers.