Deutsche Bank's Indian general counsel has resigned from his role, according to a report by Indian daily the Economic Times.

Atulya Sharma, who joined the bank in 2007 as head of legal for the Indian sub-continent and Mauritius, is to leave the bank mid-January, the paper said, speculating that he may join a telecoms company or another law firm

The current legal head at IDFC, Rajeev Uberoi, is understood to be in the running to replace Sharma.

Currently heading both legal and compliance at infrastructure financing company, Uberoi has over 30 years of experience in financial services, previously working for Standard Chartered as head of operational risk and assurance for South Asia, and at Citibank as vice president and regulatory head.

Sharma also previously worked for IDFC as group general counsel, and before that did a stint as senior partner for Indian law firm Dua Associates.

Deutsche Bank declined to comment.

Earlier this month, Legal Week reported that Deutsche Bank had begun a review of its global legal panel with the results of the process expected early next year.

The Frankfurt-headquartered bank last conducted a full panel review in September 2012 when it awarded places to White & Case, Latham & Watkins and Ashurst, among others.