Cyril Amarchand Mangaldas continues its reign as one of the most recognised full-service law firms in the country, a top-tier choice for its panoply of international and domestic clients. The firm is almost always involved in the most high-profile deals and this year proves its dominance once again by rising into the top tier of the market-hot pharmaceutical and life sciences table. The firm is also deepening its expertise in distressed asset M&A and bid-side insolvency resolution, and has established a specialised corporate governance practice. The firm houses elite partners and leaders in their fields like Cyril Shroff, L Viswanathan, Reeba Chacko, Avaantika Kakkar, Namrata Kolar and Yash Ashar. The firm also has a unique bench of retired senior bureaucrats from key Indian regulators, such as RBI and the Securities and Exchange Board of India, to provide an extra layer of expertise.
The firm went on a hiring spree recently and picked up some of the market’s leading names across all areas. In a market-shaking blockbuster move, the firm snagged capital markets rainmaker Manan Lahoty and his 48-member team, including seven other partners, from IndusLaw this summer. Also from IndusLaw, the firm welcomed labour and employment specialist Sowmya Kumar. The corporate department deepened its bench with the addition of M&A partners Mohit Gogia, Jay Parikh, Alok Sonker and Pooranimaa Hariharan from S&R Associates, Luthra and Luthra Law Offices, Krishnamurthy & Co and Trilegal, respectively. The banking team was boosted by the joining of partner Pranav Sharma from Trilegal, while the IP group was strengthened with the arrival of specialist Revanta Mathur from Anand and Anand. The firm launched its new office in Abu Dhabi, recruiting back corporate practitioner Himanshu Chahar to helm the outpost. Chahar spent six years with Cyril Amarchand Mangaldas before spending two years as a legal consultant at a UAE firm. This abundance of lateral hires has pushed the firm’s headcount to over 1,000 lawyers, including 200 partners.
Work highlights
Advised CPPIB India Private Holdings on its exit from L&T Infrastructure Development Projects (IDPL). The transaction was a first-of-its-kind deal that involved the declassification of IDPL as a sponsor of the infrastructure investment trust (InvIT) and the consequent conversion of InvIT’s investment manager, Interise Investment Managers, into a self-sponsored investment manager, in a first since the August 2023 amendment of the Securities and Exchange Board of India regulations to introduce the concept of a self-sponsored investment manager.
Key clients
Alpha Wave Global, Biocon Biologics, Brookfield Asset Management, Everchem Asia, IndoStar Capital Finance, IFC, Google, Warburg Pincus.
Work highlights
Assisted the Department for Business and Trade of the Government of United Kingdom on certain labour law matters associated with the free trade agreement that is being negotiated between the governments of the United Kingdom and India.
Key clients
AstraZeneca Pharmaceuticals, Lloyds Banking Group, Sheela Foam, Tata Electronics.
Work highlights
Represented Essar Exploration and Production India to initiate Singapore International Arbitration Centre arbitration proceedings against Nayara Energy for misuse of funds in breach of the agreement between the parties.
Key clients
Essar Bulk Teriminal, Navi Technology, Saura International, Zomato.
Work highlights
Represented National Asset Reconstruction Company and India Debt Resolution Company in connection with their consolidated resolution plan for Srei Infrastructure Finance and Srei Equipment Finance, undergoing the corporate insolvency resolution process.
Key clients
Adani Group, Alvarez & Marsal, Eight Capital, ICICI Bank, JSW Group, Reliance Industries, State Bank of India, Union Bank of India.
Work highlights
Advised IDFC and IDFC Financial Holding Company on their amalgamation with IDFC First Bank. This was the second largest transaction ever in the private banking space in India.
Key clients
Bharti AXA General Insurance Company, Canara Bank, Escorts, GVK Group, Jindal Steel & Power, Mitsui Sumitomo Insurance Company, Signify, Tata Sons.
Work highlights
Advised Ola Electric Mobility and certain selling shareholders in relation to the company’s IPO. This is the first pure play EV manufacturing company in India, comprising a fresh issue and an offer for sale by inter alia multiple institutional selling shareholders.
Acted for the book running lead managers in the IPO of Mankind Pharma.
Key clients
Azad Engineering, Bajaj Finance, Cyient DLM, Honasa Consumer, Tata Technologies.
Work highlights
Represented IMCD India in relation to the acquisition of equity of Signet Excipients. This merger notification will be the first ever combination in which the excipients market is being identified as a separate market.
Key clients
Adani Group, Axis Bank, CDPQ, NTPC, Siemens, Blackstone Group, Warburg Pincus.
Work highlights
Advised lender Asian Development Bank in relation to a first-of-its-kind deal involving carbon credits financing.
Acted for the holders and advisers in connection with the financing to GMR Goa International Airport for the part refinancing of certain existing senior and subordinated debt availed for capital expenditure for the new international airport in Goa and the creation of certain reserves.
Key clients
Adani Capital, HSBC, ICICI Bank, JPMorgan Chase, Kotak Mahindra Bank, Power Finance, Sumitomo Mitsui Banking
Work highlights
Acted for Lighthouse Learning in relation to the acquisition of rights and titles of various real estate assets.
Key clients
Brigade Enterprises, Brookfield Asset Management, Embassy Office Parks REIT, Envestnet Asset Management India, Keppel Land, PropShare Capital Advisors, Redington, Runwal Developers.
