Advaya Legal is a full-service firm with strengths in the aviation sector, IP, employment and corporate advisory and M&A work. This year the firms ascends in the ‘Highly Recommended’ tier for its aviation expertise. Managing partner Ramesh Vaidyanathan is the key contact and a former general counsel of the Mumbai International Airport. Partner Laxmi Joshi is the contact for corporate and M&A matters since the departure of Sharanya Ranga earlier this year.
Work highlights
Advised an Indian cargo handling and airport services company in a majority stake sale to a leading Indian player in the civil aviation segment.
Acted for Textron Financial on regulatory issues, the deregistration and export of aircraft from India and the settlement of insurance claims in relation to a flying incident.
Assisted Cargo Air on conducting due diligence in respect of engines registered in India.
Key clients
Bombardier Aerospace, Texas Aviation Group, Vistara Airlines.
The market holds Link Legal in high regard for its strengths in aviation, construction, energy and infrastructure work. The firm is a first port of call for infrastructure players due to its vast experience in large-scale, long-term infrastructure projects and regulator relationships, and the ability to go beyond transaction basics into extra layers of service like financing insurance. The corporate team welcomed four new partners in the last 12 months, such as Jinni Sinha from IndusLaw and Sayantani Dutta from Wadia Ghandy & Co. Infrastructure specialist Rajesh Sehgal joined from Trina Solar. Atul Sharma and Nusrat Hassan are key partners for energy and infrastructure, and corporate and M&A, respectively. Managing partner Anand Srivastava is also a projects and finance contact. The firm recently combined with Dentons to become part of the global law firm’s sprawling international network.
Client feedback
“Timely and excellent delivery in all matters.” – Aviation
“The firm plans the activities well and delivers the services within the agreed timelines.” – Capital markets
“Very good knowledge and experience of the subject. It provides research-based representations and approach towards a matter.” – Energy
“They handled things very well, and have a knowledgeable partner and team. Approachable 24/7.” – Private equity
Namita Das
“Knowledgeable and approachable. Effective management.”
Milind Jha
“Quick turnaround for queries raised, timelines have been always met, and he is solution-oriented.”
Aditya Singh
“Rich knowledge, innovative, research based approach, and provides right and practical advice.”
Anand Srivastava
“Good approach and a problem-solver.”
Work highlights
Advised Akasa Air on the purchase lease back of six Boeing aircrafts from BOC aviation.
Acting for Air India on its divestment.
Key clients
Bangalore International Airport, Big Charter Private, Delhi International Airport.
Based in New Delhi, KKL Partners is a full-service law firm with strengths in real estate, corporate and M&A and aviation work. The team routinely advises offshore and onshore clients looking to create business synergies through international tie-ups via equity or debt investments or technology alliances. The firm is led by founding partner Aashish Vats.
Client feedback
“Very prompt service and quick turnaround time on the entire transaction. Also, the negotiations on term sheets were superb.” – Private equity
Aashish Vats
“He takes the best interest of the client and has the ability to meticulously negotiate with reason in transactions.”
Work highlights
Advised Quantum Investments in leasing two aircrafts to VSR Corporation.
Acted for Quantum Investments in leasing three aircrafts to Heritage Aviation Private.
Formerly known as PDS Legal, Lumiere Law Partners is a full-service firm that specialises in helping international companies form joint ventures and make entries into India. Its aviation specialty is notable. Managing partner Probal Bhaduri helms the team alongside aviation partner Vihang Virkar. The firm has experienced an uptick in restructuring and insolvency, and labour and employment matters.
Client feedback
“They are very reactive with a good knowledge of India's public and private sector environment. They provide very practical advice and are good at handling crisis management.” – Dispute resolution
Vihang Virkar
“Very responsive, business-minded, and he knows the legal environment well.”
Work highlights
Advised Go First on its sale and leaseback deal relating to three Airbus aircraft to EOS Aviation 12.
Assisting Jazeera Airways in a transaction entailing the swap of aircraft delivery slots with CDB Aviation and on the sale and lease of an Airbus Neo plane from CDB Aviation.
MV Kini & Co is best known for its strong aviation offering. It works with carriers, MRO, ground handlers and assets owners on a range of operational matters, including financing and regulatory concerns related to aircraft and engine leases, sale and lease back of assets, specialised airline IT services, deregistration and export procedures of aircrafts and assets. It counts Air India and its subsidiaries, as well as AIX Connect, as regular clients. The firm also counts capital markets and securities law as among its core practice areas. Managing partner and aviation specialist Ravi Kini is the key contact. Senior adviser BD Bhandary covers the firm’s banking and finance work.
Work highlights
Acted for Air India for the re-purchase of 21 Boeing 787-8 Aircraft by the company through early termination of the relevant aircraft leases.
Advised Air India on the sale and leaseback of 34 engines to Willis Lease Finance Corporation.
Full-service law firm ALMT Legal has a wide range of practices including banking and finance, capital markets, corporate and M&A, dispute resolution, labour and employment and private equity. Its disputes offering covers all commercial litigation and arbitration, and handles criminal matters. Senior partners Sameer Tapia, Aliff Fazelbhoy, SR Arun and Prashant Popat preside over two offices in Mumbai and Bangalore. The transactions team was boosted by the arrival of two senior associates, who joined from Vertices Partners and Wadia Ghandy & Co. The disputes group was also strengthened with the additions of two partners, Petrushka Dasgupta and Margaret D’Souza, who joined from IndusLaw and Acclivus Law Partners, respectively.
Client feedback
“They have a practical approach. Before doing the work, they would usually speak with us and explain what they wish to do and confirm with us if the work that they are planning to do is in line with our approach or not.” – Banking and finance
“They give positive advice.” – Dispute resolution
“Strong domain knowledge and professionalism.” – Media and entertainment
“Very professional and the lawyers get into the depth of the matter.” – Private client
“Very professional, dedicated and organised.” – Private equity
Sandhya Bhaskar
“Very thorough and very precise.”
Aliff Fazelbhoy
“He has a practical approach and is a solution provider.”
“He has positive attitude and helps us well.”
Vaishakh Kapadia
“Very detailed in his work, covers all aspects in any matter. He always meets deadlines.”
Arun SR
“Excellent domain knowledge and professionalism.”
Work highlights
Advised Canara Bank on its private placement of Tier 2 bonds.
Argus Partners continues to do well in the rankings on the back of its impressive client rosters and strong deal flows. This year the firm moves up in Banking and Finance and debuts in the private equity table. A notable development was the significant expansion of Argus’ corporate and M&A team with the joining of four new partners from Algo Legal and one from DSK Legal. The Algo arrivals – Abhinav Bhalaik, Ankit Guha, Armaan Patkar and Neha Madan – deepen the firm’s bench strength and expertise in the startup and emerging companies space.
The firm’s core practices cover banking and finance, corporate and M&A, dispute resolution, and restructuring and insolvency. On the corporate and M&A side, the firm regularly advises blue-chip clients on governance, structuring and compliance issues. The firm has a pan-India presence with offices in New Delhi, Mumbai, Delhi, Bengaluru and Kolkata. Its New Delhi office was launched in 2022 and caters specifically to the firm’s corporate clients. Krishnava Dutt, the firm’s managing partner, specialises in banking and finance, corporate and M&A and restructuring and insolvency.
Work highlights
Advised State Bank of India and Union Bank of India on the grant of a rupee term loan to Shrem IviT.
Acted for Canara Bank and other lenders in their financing of a greenfield technical ammonium nitrate plant.
Atlas Law Partners maintains a strong showing in our banking and finance, corporate and M&A, real estate and private equity rankings. It debuts in the dispute resolution table on the back of a significant addition to the group, prominent disputes specialist and senior partner Ritu Bhalla. She joined from Shardul Amarchand Mangaldas & Co in late 2022. The firm won numerous mandates last year despite the pandemic impact, acting on no less than 20 debt-related and M&A transactions. In the private equity space, the team is particularly specialised in handling startup investments on behalf of both funds as well as target companies. Co-founders and senior partners Harry Chawla and Niti Paul are key contacts.
Work highlights
Advised Atria Group in relation to a refinancing transaction where it obtained a term loan facility from Power Finance Corporation.
Acted for M3M Group in relation to a rupee term loan obtained from L&T Finance for part financing of a new real estate project.
AZB & Partners is renowned as one of the top full-service law firms in India with leading practices across every category, including banking, capital markets, corporate and M&A, and private equity. This year, the firm ascends in the rankings for its insurance and pharmaceuticals and life sciences work. The firm’s sterling reputation for M&A and private equity makes it a first port of call for heavyweight international and domestic clients hoping to secure its services for big-ticket deals. The firm comprises more than 90 partners across six pan-India locations. Founding partners Zia Mody, Ajay Bahl and Bahram Vakil are legends in the market for their corporate and finance specialties. Corporate partners Anil Kasturi and Ashwath Rau are two of the most prominent M&A and private equity lawyers in the country. Banking and finance guru Gautam Saha left last summer for TT&A, and corporate partner Shameek Chaudhuri and insurance specialist Arvind Ramesh left later in the year to set up their own firm, Vritti Law Partners.
Work highlights
Advised the lenders on their mammoth syndicated $1.1 billion social loan facility to HDFC. This has been reported as the largest syndicated social loan facility globally and the largest financing availed of by a private sector non-banking financial institution under the ECB Guidelines.
Acted for API Holdings Limited on its secured structured debt financing.
With offices in Mumbai, New Delhi and Bengaluru, Bharucha & Partners is an established full-service firm that handles complex, high-level matters. The firm has a stellar reputation in the market for its disputes work, with partners MP Bharucha and DP Singh lauded by peers. In the wake of this consistent recognition, the firms climbs into the top tier for dispute resolution his year. Key partners of the transactions practice group are Alka Bharucha, Justin Bharucha, Vandana Pai, Vishnu Dutt, Swathi Girimaji and Rohit Sharma. The firm welcomed former JSA partner and transaction specialist Sindhu Nayak this year.
Work highlights
Assisted Ashv Finance in relation to the securitisation of loan receivables.
Advised IDBI Bank on extending a financing facility of INR 250 crores to Aseem Infrastructure Finance.
Three-year-old Bombay Law Chambers has offices in Mumbai, Bangalore and New Delhi. The firm has steadily made inroads in banking and finance and private equity, offering clients high-calibre solutions from veteran lawyers. The private equity practice has a stellar roster of regional and international clients, with industry strengths in e-commerce, logistics, gaming, agritech and medical technology, among others. In the past year, the firm expanded from an 11-member team to 25 members, and expanded into the area of fund formation. An entire team comprising a partner, two counsel and three associates joined the Bangalore outpost. Key contacts and founding partners are Karan Kalra and Dipanshu Singhal. Last year, partner and corporate specialist Parag Srivastava joined from Rajaram Legal.
Client feedback
“They are a perfect blend of competence, attitude towards work and cost-effectiveness.” – Corporate and M&A
“The lawyers are intelligent and creative. We like how they approach solving a problem. Also, they are very responsive and available.” – Private equity
“They have a good understanding of requirements and objectives and give practical structuring advice. They have a depth of experience and knowledge on PE transactions” – Private equity
“Parag, who is a partner at BLC, is well-versed with the current market positions for VC deals and hence takes a reasonable approach to close deals keeping in mind the interests of all parties. The BLC team also has in-depth sector expertise (such as banking and insurance) which helps in structuring transactions.” – Private equity
“The team has deep expertise, are responsive, have a commercial mindset and are solution-focussed.” – Corporate and M&A
Karan Kalra
“He is a great negotiator, very solution-focused and calm under pressure.”
Dipanshu Singhal
“Intelligent, responsive and creative, and takes a client-centric and problem-solving approach.”
Parag Srivastava
“Parag has a deep understanding of the venture capital industry. He is excellent at navigating complex deal negotiations with multiple parties while ensuring that the clients’ needs are served in the best possible manner. He also has a broad network of contacts in the industry and understands the business landscape and pulse of the market, resulting in advice that goes beyond just legal matters.”
“He is an extremely competent lawyer but what makes him unique is his ability to be fair to all parties involved and achieve commercial objectives of the transaction.”
Work highlights
Acted for Trifecta Venture Debt Funds on their investment in Cashfree Payments India.
Advised Tirupati Buildings and Offices on its loans in the form of debentures by Avenue Capital.
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 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 and Yash Ashar. The firm also has a unique bench of retired senior bureaucrats from key Indian regulators, such as the Reserve Bank of India and the Securities and Exchange Board of India, to provide an extra layer of expertise.
The corporate team welcomed three partners from various leading law firms: head of media, education and gaming Aarushi Jain joined from Nishith Desai Associates, Rishiraj Bhatt joined from Kanga & Co and Siddharth Hariani joined from Phoenix Legal. Disputes veteran Gauri Rasgotra left last year to establish her own boutique firm.
Work highlights
Advised borrower PGP Glass, a Blackstone entity, on its $360 million loan from various lenders to finance the acquisition of business undertakings of Piramal Glass.
Key clients
Adani Capital, HSBC, ICICI Bank, JP Morgan Chase, Kotak Mahindra Bank, Power Finance, Sumitomo Mitsui Banking.
The market holds Link Legal in high regard for its strengths in aviation, construction, energy and infrastructure work. The firm is a first port of call for infrastructure players due to its vast experience in large-scale, long-term infrastructure projects and regulator relationships, and the ability to go beyond transaction basics into extra layers of service like financing insurance. The corporate team welcomed four new partners in the last 12 months, such as Jinni Sinha from IndusLaw and Sayantani Dutta from Wadia Ghandy & Co. Infrastructure specialist Rajesh Sehgal joined from Trina Solar. Atul Sharma and Nusrat Hassan are key partners for energy and infrastructure, and corporate and M&A, respectively. Managing partner Anand Srivastava is also a projects and finance contact. The firm recently combined with Dentons to become part of the global law firm’s sprawling international network.
Client feedback
“Timely and excellent delivery in all matters.” – Aviation
“The firm plans the activities well and delivers the services within the agreed timelines.” – Capital markets
“Very good knowledge and experience of the subject. It provides research-based representations and approach towards a matter.” – Energy
“They handled things very well, and have a knowledgeable partner and team. Approachable 24/7.” – Private equity
Namita Das
“Knowledgeable and approachable. Effective management.”
Milind Jha
“Quick turnaround for queries raised, timelines have been always met, and he is solution-oriented.”
Aditya Singh
“Rich knowledge, innovative, research based approach, and provides right and practical advice.”
Anand Srivastava
“Good approach and a problem-solver.”
Work highlights
Acted for banks, investors and institutions providing term loan facilities and subscribing to the debentures issued by India Grid Trust, an infrastructure investment trust established under the Securities and Exchange Board of India Regulations.
Advised the State Bank of India on loan facilities provided to Ramayapatnam Port Development.
Key clients
HDFC Bank, HSBC, India Infradebt Fund, State Bank of India.
Dhir & Dhir Associates is best known for its restructuring and insolvency, and capital markets practices. The firm was one of the first entrants into the stressed assets advisory space back in the early 1980s. Thus, its long-standing experience of nearly four decades in the insolvency realm makes it a go-to firm with clients appreciating its substantial, well-rounded contentious and non-contentious practice. The firm is currently handling more than a quarter of the non-performing assets insolvencies in the country. The core practices of managing partners Alok Dhir and Maneesha Dhir are in restructuring and insolvency, and corporate and M&A. Alok Dhir is also known for his expertise in real estate and private equity, while Maneesha Dhir is active in telecommunications, media and technology as well as dispute resolution. Another key partner is disputes and restructuring and insolvency specialist Sachin Gupta.
Client feedback
“We would recommend the firm for its timely responses and being reasonable with regards to the drafting of the documents from both lender and borrower perspective.” – Banking and finance
Shikha Singh
“Has timely responses and provides clarity in discussions.”
Work highlights
Represented Tata Cleantech Capital as lender for a loan to AMPSolar Urja in relation to the construction of a power project.
Full-service firm DSK Legal has enjoyed the fruits of its expansion last summer, climbing up in the rankings across a number of areas such as capital markets, IP and pharmaceuticals and life sciences. After the seismic shift of adding more than 60 new lawyers, most from Luthra and Luthra Law Offices, the firm continued to build out its teams. It welcomed corporate and finance specialists Srinivas BR, Siddharth Suresh and Karan Ajitsaria from Dua Associates. M&A expert Kunal Mehra, and disputes partners Prashant Mishra, Prashant Pakhiddey and Saleem Hasan Ansari, followed former colleagues over from Luthra and Luthra Law Offices, while R&I consultant Sanjeev Pandey joined from the State Bank of India.
Under the guidance of top-flight real estate partner Sajit Suvarna, the firm’s real estate offering is regarded as one of the strongest in Mumbai. With an added capacity on the corporate side from recent additions, the firm posted a strong showing by closing over 50 sizeable M&A deals. The firm’s specialised media and entertainment department is well received by the market. It boasts many A-list Bollywood film stars as clients, along with local and international media houses and platforms like Disney and Star India. Key contact and managing partner Anand Desai is a venerable figure in the legal industry for banking and finance, corporate and M&A, disputes, and media and entertainment. Deputy managing partner Suvarna is a banking and real estate specialist.
Client feedback
“Prompt responses.” – Banking and finance
“Professional service, timely deliverables and focused approach.” – Corporate and M&A
“Lawyers are process driven, courteous and knowledgeable.” – Corporate and M&A
“The team had a pragmatic approach, short response times and was in general very supportive.” – Corporate and M&A
“They took a resolution approach.” – Dispute resolution
“Lawyers have a thorough understanding of the matter, diligence and responsiveness. They take off the client the worries of what needs to be done in the matter.” – Dispute resolution
“They provide speedy, to-the-point advice and a willingness to clarify all issues asked. They are very knowledgeable on Indian labour laws and give practical advice that works.” – Labour and employment
“They are aware of recent changes and help close issues without unnecessary technicalities” – Media and entertainment
Rishi Anand
“He is approachable.”
Roochi Loona
“Prompt responses and good working knowledge of the law.”
Gaurav Mistry
“Knowledgeable, friendly and professional.”
Vikrant Singh Negi
“Always prepared and proactive with solutions.”
Dinesh Pardasani
“He is very diligent, accessible and hard-working for the task assigned.”
Ajay Shaw
“He takes a focused and balanced approach.”
Suyash Srivatava
“Sharpness in thought, and clarity and speed in advice.
Work highlights
Advised National Investment Infrastructure Fund and Athaang Infrastructure in relation to its loan to Kashi Tollway.
Key clients
Arka Fincap, Canara Bank, Deutsche Bank, HSBC, Union Bank of India.
Fox Mandal has a full-service offering and is best known for its real estate and IP practices. It has been busy building up its client portfolio in the healthcare, retail, IT and real estate sectors. Its corporate and M&A practice continues to gain traction on larger matters and it moves up a notch in the M&A table. On the IP side, the firm has been honing its focus on startup players, even offering pro bono advice as their clients work their way up. Key figures for real estate and IP are, respectively, partners Purnima Kamble and Santosh Vikram Singh. Managing partner Shuva Mandal, who is active on numerous transactions and disputes matters, is a respected figure in the market. Corporate specialist Rohan Singh joined the M&A team from Trilegal last autumn.
Client feedback
“Very responsive.” – Construction
“They are time-sensitive and discharge their obligations as per schedule. They have a team of legal professionals who look for perfection in their work and protect their clients’ interests in litigation.”– Dispute resolution
“They are commercially aware and technically skilled.” – Intellectual property
Apurupa Gundu
“Quick to understand the details shared and raises appropriate queries to fill the gaps.”
Santosh Singh
“He's knowledgeable and commercially astute, a winning combination.”
Rajesh Vellakkat
“Very communicative.”
Work highlights
Advised Tata Capital Housing Finance on its top-up facility to Koregaon Park High Street Properties to fund existing projects.
Key clients
Axis Bank, DBS Bank, IFCI, Piramal Capital and Housing Finance.
Founded in 2015 with offices in Delhi and Mumbai, Gravitas Legal offers bespoke, quality representation on projects, investments, M&A, disputes, and real estate matters. Last year, the firm expanded its reach into the insolvency, securities, and white-collar crime spaces. The firm moves up a notch in the dispute resolution ranking this year. It has niche experience advising private equity funds and working on pure fund structuring mandates. In addition to regular project finance and corporate finance documentation, the firm excels in novel and atypical transactions around the 5/25 flexible structuring scheme and special drawing rights. Gravitas is empanelled with several banks and financial institutions including PTC India Financial Services, HDFC Bank, State Bank of India and L&T Infra Finance. Banking and insolvency partner Tanuj Sud is a key contact at the firm. Other notable personnel include corporate partner Varij Sharma and disputes specialists Rajeev Aggarwal and Rahul Gaikwad. Aggarwal joined the firm in April from RA Law & Co.
Work highlights
Acted for Jindal Steel Odisha on its funding from the State Bank of India.
Advised Vena Energy Vidyuth on its funding from five banks for the development of a blended wind and solar project.
Boutique law firm Hitesh Sanghvi Law Offices was founded in 2010 and is based in Mumbai. It is active in the banking and finance, general corporate and construction areas, but stands out for its dispute resolution practice. Its major clients include businesses from a range of sectors, including industrials, electrical equipment, healthcare, medical equipment, financial services, and regulatory bodies. Key contact and eponymous partner Hitesh Sanghvi counts the Reserve Bank of India as a loyal client for regulatory issues and he has rendered honorary advisory services to the World Bank Group on domestic law.
Work highlights
Acted for German export credit agency Euler Hermes on two distinct cross-border loan restructurings
HSA Advocates has a commanding reputation in the market as a preferred firm for energy, construction and infrastructure work. Sophisticated clients know this is the firm for complex, multi-party, long-term infrastructure projects, as it has decades of experience working with all stakeholders from the beginning to the end of a project life cycle. The firm provides a complete suite of solutions for development, financing, transactions, restructuring and dispute resolution support. The firm is routinely found advising on power, road, port, airport, oil, gas, clean energy and special economic zone projects. Founding partner and projects legend Hemant Sahai is a key contact. The firm welcomed corporate and funds specialist Satish Kumar Anand and real estate partner Himani Singh Sood from SNG & Partners. Banking partner Sharmil Bhushan left for Kochhar & Co.
Client feedback
“Regarding their expertise, I can confirm they have deep knowledge and expertise in the practice area where we asked for their legal assistance. On their responsiveness, as a company and as I personally value the timely communication, they provide quick turnaround times on projects, and proactive outreach to clients on our external service providers. I can confirm that they were super-responsive both for meetings and via emails with their esteemed knowledge and positive attitude. Speaking of their client-focused approach, I had the impression that they prioritise clients' needs and goals that's why they provide tailored legal solutions that meet clients' specific needs.” – Regulatory
Jivesh Chandrayan
“Here are some examples that we appreciate about him: his adaptability, communication skills and time management, which at the end let us receive the kind of legal service we want.”
Work highlights
Engaged by Rural Electrification Corporation and Power Finance Corporation to draft the amended and restated financing and security documents on account of change in shareholding of Teesta Urja post the refinancing of the other lenders’ debt.
Key clients
Axis Bank, Bank of Baroda, Indian Renewable Energy Development Agency, Renew Sun Energy.
IC Universal Legal is an eight-partner-strong firm that excels in private equity and investment funds work. This year it climbs into the top tier of the investment funds table on the back of strong market reviews of its dominance in the fund formation space. It has offices in Bangalore, Chennai, Delhi, Mumbai, Chandigarh and Ahmedabad, and extends its reach to the US and Brazil via its affiliation with US firm Chugh. Apart from its private equity, venture capitalist, credit fund and hedge fund clients, the firm is also active among startup companies. Industry-wise, the firm has expertise in banking, financial services, insurance, healthcare, industrial engineering, media, pharmaceuticals, IT, real estate and private clients. The firm boasts the highest market share among all the Indian law firms, of nearly 30% of the Indian investment funds establishment space. This includes private equity, venture capital, credit and hedge fund structuring as practice areas. Last year, the firm was involved in no less than 45 transactions across different verticals. Senior partners Kavitha Vijay and Tejesh Chitlangi are key contacts.
Client feedback
“On top of the regulatory framework for venture capital funds, the team has good insights into the thinking and working of the regulator in India.” – Investment funds
“Strong subject-knowledge expertise with a reliable and professional approach.” – Technology and telecommunications
Dikshit Mehta
“Dikshit is always accessible, prompt in his deliveries and gives a firm view on all matters with sound legal and logical backing.”
Sambhav Ranka
“Depth of knowledge, practical in approach and a problem-solver.”
Work highlights
Advised EvolutionX Debt Capital in their investment of $50 million in the non-convertible debentures issued by API Holdings.
Jerome Merchant + Partners offers a full range of corporate law services, including banking and finance, and corporate and M&A. With a well-respected banking practice, the firm ascends a tier in the banking and finance table. It has grown its presence for these clients in the financial services, media, technology, healthcare and consumer goods spaces. In the M&A space, the firm has deep experience in the automotive and real estate sectors. Partners Sameer Sibal and Vishnu Jerome lead on key deals, while disputes partner Murtaza Somjee handles litigation and arbitration cases.
Work highlights
Advised KKR India on the issuance of its privately placed listed bonds to South Indian Bank.
Assisted Tata Motors Finance Solutions on the issuance of its privately placed perpetual unlisted bonds.
JSA is a leading, pan-India full-service firm that excels in a number of areas including energy, infrastructure, technology and telecommunications, banking and finance, and construction. Its regulatory practice is well-regarded due to the firm’s strong credentials with telecoms, energy and infrastructure authorities. This year the firm rises into the top tier for its corporate and M&A work.
Work highlights
Represented Sumitomo Mitsui Banking Corporation Singapore Branch, MUFG Bank and Mizuho Bank in relation to a JPY equivalent of $1.1 billion green loan facility to Indian Railway Finance Corporation.
Juris Arena was founded in late 2020 by corporate and transactions partner Soumitra Banerjee. The firm specialises in corporate work, with niche focuses on corporate commercial and corporate finance. The team is particularly adept at working with clients in the banking and financial services sector, with offerings including advice on syndication and other loan arrangements, facility letters, security documentation, letter of credit and financial services regulations, project finance, guarantee arrangements, performance bonds and bonding facilities. This year the firm climbs up a tier in the banking table. Associate partner Anjali Haridas is the other key contact.
Client feedback
“Juris Arena has a strong team of legal professionals. They assisted throughout the NCD issuance process and were always diligent with the deliverables. Juris Arena made sure that our documentation was airtight and protected our legal interests entirely.” – Capital markets
“We value the team's quick response to our queries, their knowledge on the relevant subject matter and business sectors.” – Corporate and M&A
“Their positive attributes are their approach, knowledge, judgement and analysis. Juris Arena understands the exact requirement of a client and advises on the best course of action to be followed.” – Dispute resolution
“Partners are available and helpful. It is cost-efficient.” – Private equity
“Partners are very knowledgeable and offer wise advice.” – Private equity
Soumitra Banerjee
“Very proactive, commanding knowledge of the business sector in which our company is operating.”
“Very sharp and knowledgeable.”
Anjali Haridas
“Anjali has commendable expertise in her sector and also has a great knowledge of the real estate laws and nuances. She guided us really well with some of the issues we were facing in concluding our transaction. She also accompanied us to meetings with our banker to solve a legal hitch even though it was not part of her services scope. Anjali is very transparent and responsible. I would recommend her to all partner companies.”
“Her listening skills, knowledge, timely response, approach and proper understanding of the client requirements.”
“Proactive, insightful, well-versed with the industry, and keeps long-term risk in mind.”
Work highlights
Advised a leading fund house in structuring transaction and documents to facilitate funds to a renowned builder.
Acted for a leading financial institution in structuring transaction and documents to facilitate financial service to a conglomerate in educational sector.
Key clients
ASQI Advisors, Atul Auto, Axis Finance, Khushbu Auto Finance, Piramal Capital & Housing Finance, Scient Capital Private.
Full-service firm Juris Corp excels in banking and finance, and capital markets. It features a robust trade and commodity finance practice, a rarity in the market, and is well-regarded for its debt issuance offering. The firm ascends into the top tier of the banking table for its prowess in this space. The capital markets team was busy last year advising on cross-border business opportunities to offshore clients. Senior partner Jayesh H is known for his diverse expertise in banking and finance, capital markets, corporate and M&A, private equity, and restructuring and insolvency. The firm has offices located in Mumbai, Delhi and Bangalore. Partner Vedanarayanan Lakshmanan joined from IndusInd Bank last spring.
Client feedback
“Very good turnaround time, receptive to client needs, and reliable because they are always a phone call away. We receive a lot of partner time and they deliver quality work.” – Banking and finance
“Approachable and prompt.” – Banking and finance
Apurva Kanvinde
“She’s very receptive, available, with good turnaround times. She works well under pressure and is good at problem-solving and providing solutions, along with coordinating well with clients.”
Saurabh Sharma
“Knowledgeable.”
Work highlights
Advised the lenders in relation to a green loan financing availed by REC Solar and guaranteed by Reliance New Energy Solar.
Represented the lender banks on the Indian law-related aspects in relation to novation and amendment to K-sure covered term loan facility.
Key clients
Axis Bank, Abu Dhabi Commercial Bank, Bank of India, Rabobank, Reliance Industries, Scotiabank, Standard Chartered Bank.
Kochhar & Co has a pan-India presence and excels in a multitude of practice areas, from dispute resolution to real estate. Its technology and telecommunications practice is lauded as one of the best in the country. Stephen Matthias is a leading technology lawyer who heads the firm’s first-rate team. Managing partner and litigation specialist, Rohit Kochhar is the main contact.
Work highlights
Acted for IndusInd Bank in a deal involving a $50 million bilateral working capital facility to a gems and jewellery business.
Advised multiple domestic banks where one of the banks, ICICI Bank intends to take over the existing facilities from Aditya Birla Finance.
Represented the State Bank of India in relation to the recovery of funds from a large healthcare organisation, NMC Healthcare.
Key clients
Aditya Birla Finance, Canara Bank, ICICI Bank, Punjab National Bank, Sterlite Group
Lex Favios is a full-service firm with a proven track record helping offshore companies with their investments into India. Its core pillars include M&A, private equity and FEMA work. The firm remains consistent in our banking and finance, and corporate and M&A rankings. The firm, the exclusive India member of Legal Netlink Alliance, brandishes industry strengths in financial services, hospitality, real estate, power, renewable energy, oil and gas, and defence. Managing partner Sumes Dewan is a corporate and finance specialist. Senior associate Yashita Gulati joined from the Singhania & Partners in January.
Work highlights
Advised lender State Bank of India on its loan to Solar Energy Corporation of India.
Acted for the State Bank of India as the lender to TRS Auto Mobiles Private.
Luthra and Luthra Law Offices is a well-rounded full-service firm that has been a market leader in multiple practice areas over the past two decades. Sadly, founding partner and legendary rainmaker Rajiv Luthra passed away earlier this year. The firm has been replenishing its ranks by welcoming no less than 10 partners into the fold, ranging from corporate specialist Abhilekh Verma from Kochhar & Co to disputes expert Shreya Sircar from Bharucha & Partners. The firm is proud of its market-leading clean energy practice, prioritising niche deals that have a positive environmental or social impact.
Client feedback
“Partner attention and input have been key to the engagement. Commitment to acting as true advisers to the transaction and prioritising client interest even when it meant calling off the transaction and limiting the scope of the engagement.” – Corporate and M&A
“Very professional and timely updates.” – Dispute resolution
“Reactive and proactive.” – Intellectual property
Shireen Dhar
“Very responsive with practical solutions.”
Pranshu Paul
“Professional and helpful.”
Navin Syiem
“Navin has always been astute and accurate in his understanding of our issue, succinct in his advice, always mindful of time, prompt in his feedback and highly adaptive to the client's personality.”
Work highlights
Advised Renew Power on the first-of-its-kind round-the-clock renewable project in India.
Represented India Renewable Energy Development Agency on its loan for part financing the cost of acquiring electric cars.
Majmudar & Partners is a medium-sized, high-quality corporate and financial law firm that excels in corporate and M&A, private equity, and labour and employment areas. On the deal side, the firm is not a volume player as its clients engage the team for sophisticated and complex transactions. Peers acknowledge its labour and employment practice, which is led by Neerav Merchant and Raja Sujith Niruthambath. The firm and its managing partner Akil Hirani are well regarded in the Mumbai market. In the past 12 months, the firm has seen good growth in the non-banking financial corporation sector on regulatory advice, fintech, finance deals and M&A transactions. In addition, banking litigation is growing.
Client feedback
“Professional.” – Corporate and M&A
“Very responsive, timely and detail-oriented. They can bring in SMEs quickly for specific areas when executing a project.” – Corporate and M&A
“They were knowledgeable with India corporate law and advice on corporate structures for M&A activities.” – Corporate and M&A
“They are very efficient and always provide prompt feedback.” – Labour and employment
“Very responsive, very thorough.” – Technology and telecommunications
Rukshad Davar
“Responsive and knowledgeable.”
Akil Hirani
“Very factual, to the point. He’s practical and provides trusted advice.”
“Very responsive, thoughtful, delegates appropriately, and does thorough work.”
Sinjini Majumdar
“He provides very thorough and timely feedback.”
Neerav Merchant
“He is professional.”
Work highlights
Advised CPP Assistance Services in providing card protection assistance products to retail credit and debit card users in India.
Acted for Dhanlaxmi Bank in a banking claim made against the defaulting borrower and its guarantors.
MDP & Partners is recognised for its work in the banking and finance, and real estate spheres. It is empanelled with the Securities and Exchange Board of India and has offices in Mumbai and Delhi. Managing partners Nishit Dhruva and Ashok Paranjpe, and senior partner Ashok Mishra are all banking and finance specialists, with the former two also focusing on real estate and disputes. Last year the firm managed to conclude over 20 loan-related transactions.
Work highlights
Acted for a consortium public sector undertaking bank in respect of a supplemental round of loan documentation for a domestic public electricity provider.
Mulla & Mulla & Craigie Blunt & Caroe is a recognisable name in the market for its curated and specialised shipping practice. Its banking and insurance prowess is also well regarded. The firm, which houses more than 80 fee earners and has offices in Mumbai, Delhi and Bangalore, has expanded into the areas of subsea, oil and gas exploration and pipeline replacement projects. Key partner Shardul Thacker is one of the country’s leading shipping experts.
Client feedback
Shardul Thacker
“He is a knowledgeable, well-known and respected lawyer in the market.”
Work highlights
Acted for HDFC Bank in relation to a loan facility advanced by the bank to Hindustan Oil Exploration Company.
Key clients
Standard Chartered Bank, State Bank of India.
Phoenix Legal is a full-service firm that is recognised for its banking and finance, infrastructure, insurance, dispute resolution, labour and employment and restructuring and insolvency practices. This year it moves up in the capital markets table. The four co-founding partners are the main contacts: Manjula Chawla, Saket Shukla, Abhishek Saxena and Sawant Singh. Three partners joined last year, including disputes specialists Gaurav Dudeja and Aman Avinav, and projects partner Pallavi Bedi. The latter joined from Luthra and Luthra Law Offices.
Work highlights
Advising the US International Development Finance Corporation on its foreign currency-denominated external commercial borrowing loan to a non-banking financial company.
Assisted arranger Northern Arc Capital on a pooled bond issuance by six issuers, subscribed by a foreign portfolio investor under the voluntary retention route of the Reserve Bank of India.
Key clients
AK Capital Services, Bank of India, BlueOrchard Finance, Calvert Impact Capital, Creation Investments, HDFC Bank, MicroVest Short Duration Fund, Northern Arc Capital, State Bank of India, Union Bank
S&R Associates has market-leading capital markets, and corporate and M&A practices, a regular choice for selective clients. Its competition, disputes and insolvency practices are growing from strength to strength every year and perform well in their respective categories in our rankings. The firm moves up a tier in the banking and finance table. The firm is not a high-volume outfit but features on big-ticket mandates that require sophisticated lawyering. A highlight matter for the firm was playing a lead role for ArcelorMittal in its precedent-setting joint acquisition of Essar Steel with Nippon Steel, an instruction that required the savvy capabilities of its corporate, disputes and insolvency teams. Capital markets head Sandip Bhagat is highly respected in the market, with a peer acknowledging: “[There is] absolutely no comparison, he is simply the best.” Partners Rajat Sethi and Niti Dixit lead the M&A and dispute resolution teams, respectively.
Client feedback
“They are responsive to queries, provide valuable input and negotiate our position well.” – Banking and finance
“Quality of work is stellar.” – Corporate and M&A
“They are the most hard-working legal advisers I have ever worked with. They are very responsive, smart and hands-on.” – Corporate and M&A
Arpita Garg
“She is very approachable, knowledgeable with legal matters, provides valuable guidance and strongly negotiates our position on certain matters.”
Mohit Gogia
“Responsive and helpful.”
Rajat Sethi
“He is very responsive, knowledgeable, always attentive and available.”
Work highlights
Represented Bharat Hotels on its issuance of secured unlisted non-convertible debentures to Kotak Real Estate Fund X.
Sagus Legal was founded in early 2020 by ex-Shardul Amarchand Mangaldas & Co corporate partner, Shruti Kanodia. The firm’s core strengths are corporate and M&A, dispute resolution, and energy and infrastructure work. It has offices in New Delhi, Odisha and Gurugram. The key partners are Kanodia and disputes expert Anand Kumar Shrivastava.
Client feedback
“Hard-working, clear on the law and provides practical advice.” – Energy
“They do extensive study and have a good command of the subject. They focus on cost-cutting for us, have a good office setup and a great team.” – Regulatory
“They are a diligent team and have good knowledge, acumen and the practical aspects of the legal craft. They provide business-oriented solutions. They have a good hold on regulatory and corporate aspects.” – Regulatory
Anand Srivastava
“Very clear on the business needs of the company and is able to stitch the requirements and regulations prevailing together to get the desired outcome.”
“He is doing well.”
“He’s got an in-depth knowledge of the business and good legal acumen. He has excellent client management skills, experience and thought processes.”
Work highlights
Advised Petronet LNG on its existing and new trust and retention accounts agreements pursuant to changes in the Indian regulatory framework.
Acted for a leading public listed steel company on its financing requirements from Union Bank of India.
Established in the summer of 2021 by a group of partners from Luthra and Luthra Law Offices, Saraf and Partners has established itself well as a highly regarded full-service firm with core strengths in projects, corporate and M&A, private equity and restructuring and insolvency. The team consists of no less than 34 partners and over 180 personnel. By the end of 2022, the teams had executed more than $43 billion worth of transactions and in the spring of 2023, it acquired boutique real estate law firm, SRGR Law Offices and its 20-strong team. Key contacts include founder Mohit Saraf, and senior partners Bikash Jhawar, Vaibhav Kakkar, Manmeet Singh, Vikrant Kumar, Sanjeev Sharma and Saroj Jha. The firm welcomed a trio of R&I specialists: Ankur Khandelwal from Kochhar & Co, Anugrah Robin Frey from Luthra and Luthra Law Offices and Sairam Subramanian from Shardul Amarchand Mangaldas & Co.
Client feedback
“We appreciate they understand our business vis-à-vis legal attributes.” – Dispute resolution
“Responsive, expert and practical.” – Regulatory
Satadru Goswami
“We value his depth of knowledge and understanding.”
Vaibhav Kakkar
“Practical, responsive, understands risk mitigation and a great communicator.”
Manmeet Singh
“Good understanding of business and a man of details.”
Work highlights
Acted for the State Bank of India on its $2.3 billion financing for Navi Mumbai International Airport.
Key clients
Adani Enterprises, LIC Housing Finance, Mizuho Bank, MUFG Bank, Sumitomo Mitsui Banking Corporation.
Shardul Amarchand Mangaldas & Co has a commanding presence in the market with top-tier practices across all practice areas and industry sectors. It is routinely considered one of the best firms in a highly competitive market for transactions and a first port of call for selective international clients. This year it is boosted into the uppermost category for its pharmaceuticals and life sciences expertise. The firm offers the best of all worlds: large capacity, pan-India presence, depth of expertise and experience, and market-leading professionals. It regularly advises the largest multinationals, Indian conglomerates, and private equity players and funds. The capital markets team continues to represent issuers in many of the country’s largest IPOs and the M&A group remains unmatched for its high-stakes, high-value transactions. Pallavi Shroff is well known for her extensive experience in dispute resolution, and Shardul Shroff is renowned for his expertise as a general corporate lawyer. There were multiple notable movements in the course of the last 12 months.
Client feedback
“Excellent technical knowledge. Sound understanding of market practices and associated risks.” – Banking and finance
“Thorough research, excellent drafting of affidavits and responsive teams. They take ownership of the engagement task and a professional approach.” – Banking and finance
“They have practical positions on legal interpretation and always deliver in a timely fashion.” – Capital markets
“Timeliness, efficiency and expert in the field of competition law.” – Competition/antitrust
“The team understands business, and provides clear advice shorn of unnecessary legalese. They are always looking to solve problems for the business, and they have become trusted advisers over the course of our engagement with them.” – Competition/antitrust
“Excellent, well-rounded team which provides specific and pointed advice.” – Corporate and M&A
“High-quality legal advice, and knowledge of market and regulatory developments.” – Corporate and M&A
“Very responsive and provide clear advice.” – Dispute resolution
“Strong understanding of the market, subject matter and time management.” – Media and entertainment
“Great team that is always available, has high competence and is able to close points.” – Private equity
“SAM has one of the strongest restructuring and insolvency teams which is supplemented by a wide spectrum of expertise that is required to resolve complex restructuring situations. Their experience and network in the region spanning insolvency, corporate law, debt and equity capital markets, regulations and litigation was instrumental in the successful outcome in a number of situations.” – Restructuring and insolvency
Manika Brar
“She has a positive attitude, good communication skills and great domain knowledge.”
Sayantan Dutta
“He has a hands-on approach and takes tough stands when needed.”
Jay Gandhi
“Excellent PE knowledge and personalisation.”
Radhika Indapurkar
“Dedicated, hard-working, good communications, good drafting skills, and excellent domain knowledge.”
Ila Kapoor
“Good team leader. Very responsive and great communications.”
Abhishek Parekh
“Great, well-rounded lawyer. He handled the negotiations and documentation very well.”
Veena Sivaramakrishnan
“We valued her depth of technical knowledge, coupled with a sound understanding of market practice.”
“She’s a top lawyer in restructuring and insolvency in the region with innovative solutions to solve complex, multi-stakeholder restructuring situations. She has an extremely strong ability to solve difficult problems and provide timely recommendations that have proven to be correct on a number of occasions.”
Puja Sondhi
“Great leader who manages situations very well.”
Yaman Verma
“We were very impressed by the ownership taken by Yaman. He provides excellent advice to businesses in a manner that is easy to understand for people with non-legal backgrounds. He is our go-to adviser for new ventures, as he helps us identify and remove potential roadblocks. He has a deep technical understanding of competition law, as well as the commercials of the e-commerce space, which he combines to provide cutting-edge advice.”
Work highlights
Advised Fractal Analytics in relation to the offshore financing availed of by its subsidiary in the US against the credit support provided by the Fractal Analytics group in India.
Carlyle Funds, DBS Bank India, JP Morgan Chase, Mindspace Business Parks.
SNG & Partners is known for its sophisticated and experienced handling of banking and finance matters. As a core area of the firm, banking and financial services clients are very comfortable turning to the firm for their legal needs. It counts a wide range of lenders and non-financial banking companies as loyal clients, and works on all types of finance-related transactions. The firm is active in acquisition finance, structured trade finance, leveraged transactions, real estate loans, debt securitisation, debt structuring, structured loans and project financing. The firm offers advisory services in capital markets and real estate as well, with the market acknowledging its strength in debt capital markets issuances, particularly for rupee-denominated deals. Last year, the firm entered into an exclusive alliance with another full-service law firm, R&P Partners. Together, the two firms have broadened their professional bandwidth, as well as expanded their geographical foothold with offices in New Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Coimbatore, Cochin, Madurai and Singapore. Managing partners Sanjay Gupta and Rajesh Narain Gupta, and senior partner Amit Aggarwal are the key contacts.
Client feedback
“The lawyers that we deal with are knowledgeable and demonstrate rigour in their work. Their approach is practical wherein they balance out business interests with the requirements of the law.” – Banking and finance
“We value their in-depth knowledge on banking practices, and crisp and prompt legal advice on various matters. They are available to support us at any given point and take a professional approach to all tasks assigned.” – Banking and finance
Anju Gandhi
“She has an excellent knowledge of banking law. She’s a good listener, excellent communicator and accepts feedback positively. She is solution-oriented while keeping the interests of the bank paramount. Also, she is extremely responsive. In the case she does not have an immediate answer to a query, she accepts that she needs to check and then reverts after having studied the matter.”
Ashok Sathyanathan
“Professional approach, available and good problem-resolving capacity. An excellent adviser.”
Work highlights
Advised ICICI Bank and Axis Trustee Services on the issuance of non-convertible debentures by DLF Cyber City Developers.
Acted for CSB Bank as lender on its term loan facility to Valiant Amrut India.
Key clients
DBS Bank, HDFC Asset Management, InCred Financial Services, IndusInd Bank.
Tatva Legal Hyderabad is a sizable, full-service firm with offices in Telangana and Andhra Pradesh. Its core pillars are banking and finance, dispute resolution, labour and employment, investment funds, private equity, R&I and real estate. Managing partner Shailendra Komatreddy is the key contact. The firm welcomed corporate specialist Kaushalya Guduru from Avendus Capital and disputes manager Palash Taing from S&A Law Offices in the past year.
Work highlights
Advised HDFC in providing financing to the Phoenix Group.
Trilegal climbs up in several rankings this year, including infrastructure, insurance, pharmaceuticals and life sciences and real estate. It is quickly becoming a preferred choice for heavyweight clients, an alternative to the famous family firms that inhabit the top echelon of legal services providers. Its TMT practice continues to gain traction as a market leader, and its private equity and investment funds offering is going from strength to strength. The firm’s five-year-old asset management and fund formation practice has rapidly risen to be a power player. The dispute resolution team, led by Shankh Sengupta, has proven its worth with an elite group of litigators acting in high-stakes matters for premier clients.
Work highlights
Advised a consortium of 23 banks and financial institutions in the debt restructuring of Hindustan Construction Company.
Known in the market for its past collaborations with Linklaters, TT&A proves its leading firm status by remaining an ‘Outstanding’ firm for banking and finance and moves up a notch in the private equity table. Its capital markets practice is highly regarded for its quality, focused specialism in debt issuances, including masala bonds, and structured high-yield transactions. Partners Sonali Mahapatra, Rituparno Bhattacharya, Nidhi Rani and Rahul Gulati form one of the country’s most well-regarded teams for banking and finance. Last year, the firm was bolstered by the arrival of banking and corporate powerhouse Gautam Saha and a team of five partners from AZB & Partners.
Work highlights
Advised HSBC, MUFG and Standard Chartered Bank in connection with a term loan facility of up to $1.2 billion availed by an offshore subsidiary of Biocon Biologics.
Acted for Asian Development Bank on its term loan facility to Nhava Sheva Freeport Terminal.
Key clients
ADB, Bank of America, Barclays, Goldman Sachs, KKR, Macquarie, Nayara Energy, Nomura, Orion Capital, Tata Sons.
Wadia Ghandy & Co is one of the oldest full-service law firms in India, established in 1883. The firm has offices in five cities and houses more than 150 fee earners. The firm’s banking and finance offering is widely respected and this year it ascends into the Highly Recommended tier for this work. The firm also boasts strengths in aviation, disputes and real estate. The key contacts include senior partners Shabnum Kajiji and Hamid Moochhala, and joint managing partners Ashish Ahuja and Dhawal Mehta.
Work highlights
Advised Shriram Transport Finance Company on its external commercial borrowing of $250 million from the US International Development Finance Corporation.
Acted for SK Finance in relation to the securitisation of receivables arising from loans provided by the client to its customers.
ZBA is a boutique firm best known for its banking, shipping, dispute resolution and debt capital markets capabilities. The firm specialises in complex commercial disputes, with a focus on maritime law. It works with owners, offshore contractors, banks, mortgagees, charterers, cargo underwriters, insurers and reinsurers, protection and indemnity clubs, shipyards, commodity traders and financial investors. Managing partner Zarir Bharucha is a respected figure for shipping disputes. He is often nominated as an arbitrator for shipping-related arbitrations in the London Court of International Arbitration and he is a member of the maritime sub-committee of the International Bar Association. Partner Niloufer Lam leads the transactional practices.
Work highlights
Advised India Railway Finance Corporation on its $1.1 billion external commercial borrowing from Sumitomo Mitsui Bank, MUFG Bank and Mizuho Bank.
Acted for a syndicate of lenders on its $750 million loan to NTPC.
Represented lenders in granting a $600 million syndicated term loan facility to ONGC Videsh.
AZB & Partners is renowned as one of the top full-service law firms in India with leading practices across every category, including banking, capital markets, corporate and M&A, and private equity. This year, the firm ascends in the rankings for its insurance and pharmaceuticals and life sciences work. The firm’s sterling reputation for M&A and private equity makes it a first port of call for heavyweight international and domestic clients hoping to secure its services for big-ticket deals. The firm comprises more than 90 partners across six pan-India locations. Founding partners Zia Mody, Ajay Bahl and Bahram Vakil are legends in the market for their corporate and finance specialties. Corporate partners Anil Kasturi and Ashwath Rau are two of the most prominent M&A and private equity lawyers in the country. Banking and finance guru Gautam Saha left last summer for TT&A, and corporate partner Shameek Chaudhuri and insurance specialist Arvind Ramesh left later in the year to set up their own firm, Vritti Law Partners.
Work highlights
Acted for Infosys on its $1.24 billion buyback, one of the largest buybacks that is being undertaken by an Indian company.
Assisted the book running lead managers on the public offering of Patanjali Foods.
With offices in Mumbai, New Delhi and Bengaluru, Bharucha & Partners is an established full-service firm that handles complex, high-level matters. The firm has a stellar reputation in the market for its disputes work, with partners MP Bharucha and DP Singh lauded by peers. In the wake of this consistent recognition, the firms climbs into the top tier for dispute resolution his year. Key partners of the transactions practice group are Alka Bharucha, Justin Bharucha, Vandana Pai, Vishnu Dutt, Swathi Girimaji and Rohit Sharma. The firm welcomed former JSA partner and transaction specialist Sindhu Nayak this year.
Work highlights
Advised Dreamfolks Services on its IPO.
Acted for Inga Ventures Private and Equirus Capital Private as the book running lead managers for the IPO of Divgi TorqTransfers System.
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 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 and Yash Ashar. The firm also has a unique bench of retired senior bureaucrats from key Indian regulators, such as the Reserve Bank of India and the Securities and Exchange Board of India, to provide an extra layer of expertise.
The corporate team welcomed three partners from various leading law firms: head of media, education and gaming Aarushi Jain joined from Nishith Desai Associates, Rishiraj Bhatt joined from Kanga & Co and Siddharth Hariani joined from Phoenix Legal. Disputes veteran Gauri Rasgotra left last year to establish her own boutique firm.
Work highlights
Advised the Life Insurance Corporation of India and the President of India, acting through the Ministry of Finance, on its IPO. This was the largest IPO of equity shares in the history of capital markets in India.
Acted for Macrotech Developers and its selling shareholders on its QIP. The QIP structure was the first ever qualified institutions placement by way of an offer for sale of equity shares.
Key clients
Cartrade Tech, India Grid Trust, L&T Finance Holdings, Macrotech Developers.
IndusLaw is a modern full-service firm that is rapidly coming up the ranks as a challenger to the established order of top legacy firms. This year, it moves up a notch in the real estate rankings and expanded by opening a new office in Gurugram. In total, the pan-India coverage includes offices in Bangalore, Chennai, Delhi, Hyderabad, Mumbai and the aforementioned Gurugram. The firm takes pride in its growing prominence among sophisticated clients for its private equity and TMT work. It specialises in working with investors across the full funding lifecycle and on a variety of funds including sector-specific ones such as technology, life sciences, e-commerce, retail and infrastructure. The capital markets team remains active, securing some of this year’s largest mandates for both issuers and bookrunners on more than 24 transactions. While maintaining a secure foothold at the forefront of ECM work, it is busy diversifying its suite of experience into newer products such as SPACs and business trusts, block deals and debt capital markets work.
There were several noteworthy inflows and outflows of talent this year. Banking partner Ashutosh Narang joined from Luthra and Luthra Law Offices last October. Corporate specialists Amrit Mehta and Shantanu Jindel joined from Majmudar & Partners and JSA, respectively, while partners Anubha Sital and Divya Varghese departed for in-house roles. On the disputes side, partners Maneesha Kongovi and Sourasubha Ghosh arrived from Argus Partners and Hariani & Co, respectively.
Client feedback
“The team are go-getters, always there to work on challenging assignments, and provide clarity on strategy in litigations. It helps us achieve the desired results” – Banking and finance
“Prompt client service, and accuracy in legal representation and advisory.” – Banking and finance
“Their legal expertise is top-notch and add to that the constant availability of folks to resolve any sudden issues that might arise makes them a perfect partner for any startup.” – Corporate and M&A
“The team is excellent. Litigation is the core area and very efficient. We are satisfied with their performance. Cost-wise, they also are very reasonable.” – Dispute resolution
“Solution-oriented, understands the clients’ needs very quickly, and provides well-thought resolutions.” – Dispute resolution
“Proactive, knowledgeable, good negotiators, and has good command on the subject.” – Investment funds
“We recommend them for their ability to understand business and define the solution from multiple angles; the availability of the team; their turnaround time; the involvement of senior partners in brainstorming and solutioning; and the ease of working with other ecosystem partners.” – Media and entertainment
“They are highly responsive and in touch with the local market. It is very hard to stay on top of the latest trends in legal terms from afar. They have an eye toward ensuring that appropriate and proper legal protections are in place, with a commercial sensibility to finding compromise.” – Private equity
“Great advice, super-responsive, creative problem-solvers, and a collaborative team.” – Private equity
“Interesting, practical and give timely insights.” – Private equity
“Proactive and knowledgeable teams across both practices.” – Private equity
“Very client-centric, highly available, responsive and caring. They have a long-term focus, not transaction focus.” – Private equity
“Sensitive to client needs, approachable and provide holistic advice.” – Private equity
“The team understands client objectives and priorities, and as a result gives us the specific advice we need.” – Private equity
“We appreciate their attention to detail, sector-specific knowledge in the areas we invest, deep knowledge about our positions in investments, and very personable and committed team.” – Private equity
Ranjana Adhikari
“She is very positive and has good domain knowledge. She shows a good balance of risk management and business solutioning, and has a great ability to bring in specialists as and when needed.”
Unnati Agrawal
“Goes out of her way to devise a solution. She has very good domain knowledge and communication skills.”
Aakash Dasgupta
“Excellent communication and expertise.”
Mayukh Dutta
“Very collaborative, founder-first attitude. Also he is approachable, personable, down-to-earth and solution-oriented.”
Sushmita Gandhi
“She is always there for any assignment and helps us in complex assignments. She has a positive approach to any issue at hand and has clarity of thought for devising suitable strategies to deal with such issues. The insights and advice provided by Ms. Sushmita has been quite helpful in overcoming the challenges faced in transactions and litigations.”
“Friendly, prompt, intelligent and articulate.”
“Very effective and quick.”
Anindya Ghosh
“Anindya has great legal expertise and is always available to guide us on any issues where his expertise is needed.”
“His industry knowledge is excellent. Anindya is very solution-oriented while being able to keep our interests in mind as well as the general regulatory landscape. He is very easy to interact with and personable, and he is always available when we need him.”
“Very focused on solutions to move things along. Diligent, knowledgeable, affable and pleasant to work with. He takes time out to explain things and always kept our best interests in mind. He is a fair negotiator.”
Amit Jajoo
“Extremely meticulous and solution-oriented.”
Pallavi Kanakagiri
“She is very knowledgeable about legal implications and is very good at applying this to our specific concerns.”
Winnie Shekhar
“Always available. Incredibly responsive. Works to advocate on behalf of clients, while finding a middle-ground and reasonable approach to meeting points of dispute. Creative in thinking.”
“Combines a sharp eye on legal issues with a commercial sensibility to getting a deal across the line. Provides useful and practical advice. Not overly aggressive but a good advocate for our positions.”
“Knowledgeable and responsive.”
Work highlights
Acted for the book running lead managers in the proposed QIP by Macrotech Developers, the first QIP by way of offer for sale in India.
Key clients
Adani Group, Axis Capital, Bank of America Securities, Citigroup Global Markets, CLSA, DSP Merrill Lynch, HSBC Securities, ICICI Securities, JM Financial, Sapphire Foods.
JSA is a leading, pan-India full-service firm that excels in a number of areas including energy, infrastructure, technology and telecommunications, banking and finance, and construction. Its regulatory practice is well-regarded due to the firm’s strong credentials with telecoms, energy and infrastructure authorities. This year the firm rises into the top tier for its corporate and M&A work.
Work highlights
Advised Export-Import Bank of India (Exim) in connection with the issue of notes under Exim’s $10 billion global medium term note programme.
Full-service firm Juris Corp excels in banking and finance, and capital markets. It features a robust trade and commodity finance practice, a rarity in the market, and is well-regarded for its debt issuance offering. The firm ascends into the top tier of the banking table for its prowess in this space. The capital markets team was busy last year advising on cross-border business opportunities to offshore clients. Senior partner Jayesh H is known for his diverse expertise in banking and finance, capital markets, corporate and M&A, private equity, and restructuring and insolvency. The firm has offices located in Mumbai, Delhi and Bangalore. Partner Vedanarayanan Lakshmanan joined from IndusInd Bank last spring.
Client feedback
“Very good turnaround time, receptive to client needs, and reliable because they are always a phone call away. We receive a lot of partner time and they deliver quality work.” – Banking and finance
“Approachable and prompt.” – Banking and finance
Apurva Kanvinde
“She’s very receptive, available, with good turnaround times. She works well under pressure and is good at problem-solving and providing solutions, along with coordinating well with clients.”
Saurabh Sharma
“Knowledgeable.”
Work highlights
Acted for a materials manufacturer in raising debt by way of issuance of non-convertible debentures. The deal was complex as it was one of the biggest leverage buy-outs in the cement industry and there were many bidders.
Advised Shriram Transport Finance Company on its financing programme including raising of monies for its trade financing in the form of floating rate bonds.
Kanga & Co maintains its perch atop the real estate ranking, a respected firm with an enviable client list in this sector. It also excels in the construction space, while remaining steady in the banking and finance and capital markets tables. The firm has a strong practice of helping SMEs list on domestic SME stock exchanges, and in the last nine years has advised more than 70 such companies. On the offshore front, the team acted for ESR Cayman as local counsel on its debut on the Hong Kong Stock Exchange in 2019. Senior partner Preeti Mehta and Chetan Thakkar are key contacts.
Client feedback
“Correct and timely advice always keeping client’s interests in mind.” – Real estate
“Offers all services under one roof, quick turnaround and experienced partners.” – Real estate
Punit Damodar
“Always keeping clients’ interests in mind and goes out of his way to help clients.”
Preeti Mehta
“Responsive, quick turnaround and considered views.”
Work highlights
Advised Abans Holdings on its IPO on the main board of the Indian Stock Exchange (ISE).
Acted for Plaza Wires on its IPO on the ISE.
Luthra and Luthra Law Offices is a well-rounded full-service firm that has been a market leader in multiple practice areas over the past two decades. Sadly, founding partner and legendary rainmaker Rajiv Luthra passed away earlier this year. The firm has been replenishing its ranks by welcoming no less than 10 partners into the fold, ranging from corporate specialist Abhilekh Verma from Kochhar & Co to disputes expert Shreya Sircar from Bharucha & Partners. The firm is proud of its market-leading clean energy practice, prioritising niche deals that have a positive environmental or social impact.
Client feedback
“Partner attention and input have been key to the engagement. Commitment to acting as true advisers to the transaction and prioritising client interest even when it meant calling off the transaction and limiting the scope of the engagement.” – Corporate and M&A
“Very professional and timely updates.” – Dispute resolution
“Reactive and proactive.” – Intellectual property
Shireen Dhar
“Very responsive with practical solutions.”
Pranshu Paul
“Professional and helpful.”
Navin Syiem
“Navin has always been astute and accurate in his understanding of our issue, succinct in his advice, always mindful of time, prompt in his feedback and highly adaptive to the client's personality.”
Work highlights
Advised Venus Pipes and Tubes (VPT) and SMC Capital on VPT’s IPO.
Represented HSBC and Roth Capital Partners for the rights issue of Azure Power Global.
MV Kini & Co is best known for its strong aviation offering. It works with carriers, MRO, ground handlers and assets owners on a range of operational matters, including financing and regulatory concerns related to aircraft and engine leases, sale and lease back of assets, specialised airline IT services, deregistration and export procedures of aircrafts and assets. It counts Air India and its subsidiaries, as well as AIX Connect, as regular clients. The firm also counts capital markets and securities law as among its core practice areas. Managing partner and aviation specialist Ravi Kini is the key contact. Senior adviser BD Bhandary covers the firm’s banking and finance work.
Work highlights
Advised Indore Municipal Corporation for its first public issue of municipal bonds. This is the country’s first public issue of municipal bonds under Securities and Exchange Board of India regulations.
S&R Associates has market-leading capital markets, and corporate and M&A practices, a regular choice for selective clients. Its competition, disputes and insolvency practices are growing from strength to strength every year and perform well in their respective categories in our rankings. The firm moves up a tier in the banking and finance table. The firm is not a high-volume outfit but features on big-ticket mandates that require sophisticated lawyering. A highlight matter for the firm was playing a lead role for ArcelorMittal in its precedent-setting joint acquisition of Essar Steel with Nippon Steel, an instruction that required the savvy capabilities of its corporate, disputes and insolvency teams. Capital markets head Sandip Bhagat is highly respected in the market, with a peer acknowledging: “[There is] absolutely no comparison, he is simply the best.” Partners Rajat Sethi and Niti Dixit lead the M&A and dispute resolution teams, respectively.
Client feedback
“They are responsive to queries, provide valuable input and negotiate our position well.” – Banking and finance
“Quality of work is stellar.” – Corporate and M&A
“They are the most hard-working legal advisers I have ever worked with. They are very responsive, smart and hands-on.” – Corporate and M&A
Arpita Garg
“She is very approachable, knowledgeable with legal matters, provides valuable guidance and strongly negotiates our position on certain matters.”
Mohit Gogia
“Responsive and helpful.”
Rajat Sethi
“He is very responsive, knowledgeable, always attentive and available.”
Work highlights
Advised Global Health, the operator of the Medanta hospitals, on its IPO. This is the largest IPO in the hospital sector in the country.
Established in the summer of 2021 by a group of partners from Luthra and Luthra Law Offices, Saraf and Partners has established itself well as a highly regarded full-service firm with core strengths in projects, corporate and M&A, private equity and restructuring and insolvency. The team consists of no less than 34 partners and over 180 personnel. By the end of 2022, the teams had executed more than $43 billion worth of transactions and in the spring of 2023, it acquired boutique real estate law firm, SRGR Law Offices and its 20-strong team. Key contacts include founder Mohit Saraf, and senior partners Bikash Jhawar, Vaibhav Kakkar, Manmeet Singh, Vikrant Kumar, Sanjeev Sharma and Saroj Jha. The firm welcomed a trio of R&I specialists: Ankur Khandelwal from Kochhar & Co, Anugrah Robin Frey from Luthra and Luthra Law Offices and Sairam Subramanian from Shardul Amarchand Mangaldas & Co.
Client feedback
“We appreciate they understand our business vis-à-vis legal attributes.” – Dispute resolution
“Responsive, expert and practical.” – Regulatory
Satadru Goswami
“We value his depth of knowledge and understanding.”
Vaibhav Kakkar
“Practical, responsive, understands risk mitigation and a great communicator.”
Manmeet Singh
“Good understanding of business and a man of details.”
Work highlights
Advised Anant Investments on the IPO of Global Health.
Assisted LIC Housing Finance on its private placement of non-convertible debentures.
Shardul Amarchand Mangaldas & Co has a commanding presence in the market with top-tier practices across all practice areas and industry sectors. It is routinely considered one of the best firms in a highly competitive market for transactions and a first port of call for selective international clients. This year it is boosted into the uppermost category for its pharmaceuticals and life sciences expertise. The firm offers the best of all worlds: large capacity, pan-India presence, depth of expertise and experience, and market-leading professionals. It regularly advises the largest multinationals, Indian conglomerates, and private equity players and funds. The capital markets team continues to represent issuers in many of the country’s largest IPOs and the M&A group remains unmatched for its high-stakes, high-value transactions. Pallavi Shroff is well known for her extensive experience in dispute resolution, and Shardul Shroff is renowned for his expertise as a general corporate lawyer. There were multiple notable movements in the course of the last 12 months.
Client feedback
“Excellent technical knowledge. Sound understanding of market practices and associated risks.” – Banking and finance
“Thorough research, excellent drafting of affidavits and responsive teams. They take ownership of the engagement task and a professional approach.” – Banking and finance
“They have practical positions on legal interpretation and always deliver in a timely fashion.” – Capital markets
“Timeliness, efficiency and expert in the field of competition law.” – Competition/antitrust
“The team understands business, and provides clear advice shorn of unnecessary legalese. They are always looking to solve problems for the business, and they have become trusted advisers over the course of our engagement with them.” – Competition/antitrust
“Excellent, well-rounded team which provides specific and pointed advice.” – Corporate and M&A
“High-quality legal advice, and knowledge of market and regulatory developments.” – Corporate and M&A
“Very responsive and provide clear advice.” – Dispute resolution
“Strong understanding of the market, subject matter and time management.” – Media and entertainment
“Great team that is always available, has high competence and is able to close points.” – Private equity
“SAM has one of the strongest restructuring and insolvency teams which is supplemented by a wide spectrum of expertise that is required to resolve complex restructuring situations. Their experience and network in the region spanning insolvency, corporate law, debt and equity capital markets, regulations and litigation was instrumental in the successful outcome in a number of situations.” – Restructuring and insolvency
Manika Brar
“She has a positive attitude, good communication skills and great domain knowledge.”
Sayantan Dutta
“He has a hands-on approach and takes tough stands when needed.”
Jay Gandhi
“Excellent PE knowledge and personalisation.”
Radhika Indapurkar
“Dedicated, hard-working, good communications, good drafting skills, and excellent domain knowledge.”
Ila Kapoor
“Good team leader. Very responsive and great communications.”
Abhishek Parekh
“Great, well-rounded lawyer. He handled the negotiations and documentation very well.”
Veena Sivaramakrishnan
“We valued her depth of technical knowledge, coupled with a sound understanding of market practice.”
“She’s a top lawyer in restructuring and insolvency in the region with innovative solutions to solve complex, multi-stakeholder restructuring situations. She has an extremely strong ability to solve difficult problems and provide timely recommendations that have proven to be correct on a number of occasions.”
Puja Sondhi
“Great leader who manages situations very well.”
Yaman Verma
“We were very impressed by the ownership taken by Yaman. He provides excellent advice to businesses in a manner that is easy to understand for people with non-legal backgrounds. He is our go-to adviser for new ventures, as he helps us identify and remove potential roadblocks. He has a deep technical understanding of competition law, as well as the commercials of the e-commerce space, which he combines to provide cutting-edge advice.”
Work highlights
Acted for the bookrunning lead managers in the IPO of Life Insurance Corporation of India. This is the largest IPO in India so far.
SNG & Partners is known for its sophisticated and experienced handling of banking and finance matters. As a core area of the firm, banking and financial services clients are very comfortable turning to the firm for their legal needs. It counts a wide range of lenders and non-financial banking companies as loyal clients, and works on all types of finance-related transactions. The firm is active in acquisition finance, structured trade finance, leveraged transactions, real estate loans, debt securitisation, debt structuring, structured loans and project financing. The firm offers advisory services in capital markets and real estate as well, with the market acknowledging its strength in debt capital markets issuances, particularly for rupee-denominated deals. Last year, the firm entered into an exclusive alliance with another full-service law firm, R&P Partners. Together, the two firms have broadened their professional bandwidth, as well as expanded their geographical foothold with offices in New Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Coimbatore, Cochin, Madurai and Singapore. Managing partners Sanjay Gupta and Rajesh Narain Gupta, and senior partner Amit Aggarwal are the key contacts.
Client feedback
“The lawyers that we deal with are knowledgeable and demonstrate rigour in their work. Their approach is practical wherein they balance out business interests with the requirements of the law.” – Banking and finance
“We value their in-depth knowledge on banking practices, and crisp and prompt legal advice on various matters. They are available to support us at any given point and take a professional approach to all tasks assigned.” – Banking and finance
Anju Gandhi
“She has an excellent knowledge of banking law. She’s a good listener, excellent communicator and accepts feedback positively. She is solution-oriented while keeping the interests of the bank paramount. Also, she is extremely responsive. In the case she does not have an immediate answer to a query, she accepts that she needs to check and then reverts after having studied the matter.”
Ashok Sathyanathan
“Professional approach, available and good problem-resolving capacity. An excellent adviser.”
Work highlights
Acted for Gulshan Polyols in relation to its QIP by way of fresh equity shares of the company.
Known in the market for its past collaborations with Linklaters, TT&A proves its leading firm status by remaining an ‘Outstanding’ firm for banking and finance and moves up a notch in the private equity table. Its capital markets practice is highly regarded for its quality, focused specialism in debt issuances, including masala bonds, and structured high-yield transactions. Partners Sonali Mahapatra, Rituparno Bhattacharya, Nidhi Rani and Rahul Gulati form one of the country’s most well-regarded teams for banking and finance. Last year, the firm was bolstered by the arrival of banking and corporate powerhouse Gautam Saha and a team of five partners from AZB & Partners.
Work highlights
Advised Apollo Global Management on the issuance of senior secured USD notes by Mumbai International Airport.
ZBA is a boutique firm best known for its banking, shipping, dispute resolution and debt capital markets capabilities. The firm specialises in complex commercial disputes, with a focus on maritime law. It works with owners, offshore contractors, banks, mortgagees, charterers, cargo underwriters, insurers and reinsurers, protection and indemnity clubs, shipyards, commodity traders and financial investors. Managing partner Zarir Bharucha is a respected figure for shipping disputes. He is often nominated as an arbitrator for shipping-related arbitrations in the London Court of International Arbitration and he is a member of the maritime sub-committee of the International Bar Association. Partner Niloufer Lam leads the transactional practices.
Work highlights
Represented Indian Oil Corporation on its issuance of unsecured, listed, redeemable, non-convertible, non-cumulative taxable debentures.
Advised Issuer REC in an update of its $7 billion global medium term note programme listed on the Singapore Stock Exchange, London Stock Exchange, NSE-IFSC and India INX for the issuance of multi-currency and multi-tenor overseas-listed bonds.
Founded in 2020 by competition specialists Anu Monga and Rahul Goel, the firm is quickly ascending into the upper echelons as one of the top antirust legal offerings in the country. The team is at the forefront of competition jurisprudence-shaping cases, acting in numerous constitutional challenges to the Competition Act. The firm welcomed senior associates from Economic Laws Practice and the Competition Commission of India, as well as counsel Shobhit Sharma from Lex Indis Law Offices.
Client feedback
“It advises its client well.” – Competition/antitrust
“Attentive, responsive, experienced, calm and methodical.” – Labour and employment
“Rahul Goel and Anu Monga provide sensational guidance on the complexities of India's regulatory framework for telecom providers.” – Regulatory
Rahul Goel
“Great lawyer and easy to work with. He understands complex situations.”
Anu Monga
“Very hard-working.”
Work highlights
Represented Zydus before the Supreme Court of India on an alleged anti-competitive agreement with the Chemists & Druggists Association of India.
Acted for Schott Glass before the Supreme Court of India in a matter relating to abuse of dominance. This is the only matter pending before the Supreme Court on abuse of dominance. It raises several legal questions before the Supreme Court especially on volume discounts, loyalty discounts, functional discounts and dissimilar transactions.
Engaged by Sumitomo Chemical India to challenge the constitutionality of a regulation of the Competition Commission of India before the High Court of Delhi.
AZB & Partners is renowned as one of the top full-service law firms in India with leading practices across every category, including banking, capital markets, corporate and M&A, and private equity. This year, the firm ascends in the rankings for its insurance and pharmaceuticals and life sciences work. The firm’s sterling reputation for M&A and private equity makes it a first port of call for heavyweight international and domestic clients hoping to secure its services for big-ticket deals. The firm comprises more than 90 partners across six pan-India locations. Founding partners Zia Mody, Ajay Bahl and Bahram Vakil are legends in the market for their corporate and finance specialties. Corporate partners Anil Kasturi and Ashwath Rau are two of the most prominent M&A and private equity lawyers in the country. Banking and finance guru Gautam Saha left last summer for TT&A, and corporate partner Shameek Chaudhuri and insurance specialist Arvind Ramesh left later in the year to set up their own firm, Vritti Law Partners.
Work highlights
Advised Google on its abuse of dominance investigations in Android smartphones.
Represented Tata Sons on preparing and filing the notification with the Competition Commission of India (CCI) and subsequently securing an unconditional approval from the CCI for the acquisition by Air India of 100% shareholding in Air Asia India.
Chandhiok & Mahajan is recognised by the market for its competition and antitrust expertise and is growing in prominence in the restructuring and insolvency sphere. This year the firm ascends a notch in the competition, and corporate and M&A rankings. The firm is active for its big tech and e-commerce clients, for example representing Google before the competition regulator. Another highlight is the firm’s extensive experience in leniency mandates, powered by its win for a client in the first-ever decision by the Competition Commission of India in relation to leniency where 100% immunity was granted. The firm has numerous seminal antitrust law achievements under its belt. It is at the forefront of competition policy development, with name partner Karan Chandhiok as the co-chair of the Assocham-National Council on Competition Law. Chandhiok and co-founder Pooja Mahajan are key figures.
Client feedback
“The firm's positive attributes include their depth of knowledge and experience, their relationships across various stratas in the M&A space, and of course their professional manner in dealing with unforeseen hurdles.” – Corporate and M&A
“Detailed, commercial and reasoned.” – Corporate and M&A
“Practical solutions and quick responses.” – Restructuring and insolvency
Sujoy Bhatia
“Intelligent, personable, commercial, and always available.”
Pooja Mahajan
“Knowledgeable and practical.”
Work highlights
Acting for Google in an anonymous information filed against the GPay app and Google’s Play Store as well as two additional complaints filed regarding the client’s play store.
Successfully acted for Genus Papers and Shah Paper Mills before the Competition Commission of India in an investigation for alleged cartelisation by paper mills brought by corrugated box manufacturers.
Successfully represented Intel in a crucial Competition Commission of India investigation alleging its abuse of dominance.
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 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 and Yash Ashar. The firm also has a unique bench of retired senior bureaucrats from key Indian regulators, such as the Reserve Bank of India and the Securities and Exchange Board of India, to provide an extra layer of expertise.
The corporate team welcomed three partners from various leading law firms: head of media, education and gaming Aarushi Jain joined from Nishith Desai Associates, Rishiraj Bhatt joined from Kanga & Co and Siddharth Hariani joined from Phoenix Legal. Disputes veteran Gauri Rasgotra left last year to establish her own boutique firm.
Work highlights
Advised Viacom 18 and Reliance Projects on the transaction structure and documentation from a competition law standpoint. The team drafted the merger notification, engaged in extensive consultations with the Competition Commission of India (CCI) and responded to the CCI’s requests for information, in order to obtain the CCI’s approval for the transaction.
Key clients
Adani Group, Axis Bank, CDPQ, NTPC, Siemens, Blackstone Group, Warburg Pincus.
Full-service firm Dua Associates is best known for its litigation and arbitration strength. The dispute resolution team has over 150 lawyers spread out across its offices in New Delhi, Gurgaon, Bangalore, Chandigarh, Chennai, Hyderabad, Mumbai and Pune. Notably, the firm has a robust Supreme Court presence through its sister firm Dua Associates AoR, which is a firm registered with the top court and stacked with advocates-on-record that work in tandem with the Dua Associates partners. Clients of the firm include high-net-worth individuals, and domestic and international corporations engaged in sectors such as chemicals, agricultural products, automobiles, aviation, transportation, telecom, infrastructure, hospitality, technology, digital media, fashion, and luxury goods, among others. Dispute resolution specialist and senior partner Shiraz Patodia is a main contact, as is firm chairman and corporate expert Ranji Dua. Antitrust and corporate specialist Rahul Narayanan departed for a role at Amazon India.
Successfully represented various entities within the Atos Group before the Competition Commission of India in a case involving allegations of abuse of dominance and anti-competitive agreement.
As one of the top law firms in India, Economic Laws Practice is highly ranked across the banking and finance, competition/antitrust, dispute resolution, regulatory and tax practices. It has seven offices across India, in Mumbai, New Delhi, Pune, Chennai, Bangalore, Ahmedabad and Gift City. The firm’s renowned tax group is acknowledged by peers as a market leader. It is led by tax specialists Rohit Jain, Nishant Shah, Harsh Shah, Kumar Visalaksh and Gopal Mundhra. Firm managing partner and main contact Suhail Nathani is often a lead partner in competition cases, as well as on private equity and M&A deals. The dispute resolution group welcomed associate partner Abhay Chattopadhyay from Amit Sibal’s Law Chambers.
Client feedback
“Their work and conduct in all matters entrusted to them were to the best of our satisfaction.” – Corporate and M&A
“Very strong subject-matter expertise, timely delivery and cost-efficient.” – Dispute resolution
“The lawyers give extremely prompt and practical advice and they understand the importance of long-term relationships as compared to other law firms that focus on short-term gains by always thinking about their legal fees. It has a very diverse and experienced group of partners that cover every department and sector which enables them to act as a one-stop shop for everything legal.” – Dispute resolution
“Local knowledge, good advice.” – Dispute resolution
“Very responsive, wide range of expertise and great team.” – Labour and employment
“The team is very professional in delivering assignments in a timely fashion and can be relied on for their astute and strategic advice. The team has the relevant talent and capability in each practice area which is mentored by a seasoned senior partner and the firm has been able to position itself very well for catering to the specific needs of each sector. The practice areas of tax, commercial advice and litigation has been well tested over time and gives them an edge over similarly placed competitors in delivering value to the corporate client.” – Oil and gas
“The firm and the team that works with us knows what we focus upon on deals and works with us effectively to ensure the documents close quickly and also ensure that we are adequately protected in the transaction.” – Private equity
“Sincere, diligent, particular, quick to revert, and they understand my needs and requirements.” – Real estate
“Easily accessible and they take a pragmatic approach.” – Regulatory
“Effective coordination between the parties and timely follow-up on outstanding action items to reach a timely resolution.” – Regulatory
“It has a team of great lawyers. We appreciate their understanding of laws, preparedness with cases, representation skills, approach and availability.” – Tax
“The lawyers are prompt, detailed, give practical insights and have sharp technical acumen.” – Tax
“They are highly skilled, technical, commercially astute and understand the business in which we operate. Their work product is excellent and timely.” – Tax
Vinay Bhutani
“He is very responsive, quick to find solutions and maintains very good relationships with the other side. That is very important for us in private equity to not ruffle feathers with the promoter during negotiations.”
Heena Chheda
“Extremely wise, particular, diligent, trustworthy and an overall excellent lawyer.”
Alok Jain
“Availability, local knowledge and advice.”
Rohit Jain
“I have known Rohit for more than 15 years. He is an excellent trusted adviser, pragmatic, very technical and understands our business well.”
Aakanksha Joshi
“Responsible behaviour and timely completion of tasks entrusted to her.”
Ritesh Kanodia
“Humble, prompt, technical and has solid business acumen.”
Yashojit Mitra
“Accessible, takes a pragmatic approach, and has good knowledge of our business needs.”
“Effective communicator that builds relationships between the parties.”
Jitendra Motwani
“Understands the client’s situation and aims to give practical solutions rather just legal remedies by the book. He is very knowledgeable in every field and treats every matter with equal importance.”
“He is a subject-matter expert. He is confident and provides timely delivery.”
Suhail Nathani
“Positive, frequent communications, and solution-oriented.”
Abhishek Sanyal
“He is very responsive, provides excellent advice and solutions, and is backed by a great team.”
Naresh Thacker
“We appreciate his experience, knowledge, representation skill, approach, understanding and availability.”
“Naresh is well placed for handling big stakes corporate litigations and leading such litigations from legal and strategic fronts. He is solution-centric and puts a lot of emphasis on offering innovative solutions and strategic advice on litigation matters.”
Work highlights
Acted for the National Egg Coordination Committee in India in an investigation related to allegations of the price fixing of eggs.
Key clients
Google, SKF India, Telefonaktiebolaget LM Ericsson.
Best known in the market for its leading tax and IP practices, Lakshmikumaran & Sridharan also provides in-depth advisory and representation in competition, corporate, real estate, and restructuring and insolvency matters. It has 13 offices across 11 cities and opened a new office in Kochi two years ago. For IP, the firm ascends into the top tier. It is famed for its contentious patent know-how, where the subject matter requires deep and detailed knowledge. The firm is a market leader in plant genomics and plant variety protection. The firm’s robust and historical tax practice specialises in GST, income tax, customs and litigation. The firm’s key contacts are IP practice head Malathi Lakshmikumaran, who is a specialist in the biotechnology, chemistry and pharmaceuticals sectors. Managing partner V Lakshmikumaran is a go-to name for tax matters. Notable clients in the arbitration practice area occupy the steel, power, consumer goods, hospitality and tourism, and infrastructure sectors.
Work highlights
Advised Central Warehousing Corporation on competition law compliance and clearances.
Successfully represented and obtained a favourable order for the Federation of Corrugated Box Manufacturers of India in a case relating to an all-India cartel in the craft paper industry.
P&A Law Offices is a legacy corporate, commercial, financial and litigation law firm with an admirable list of market firsts. Founded in 1996, the firm has a stellar reputation among top Indian conglomerates, Fortune 500 companies, household-name multinationals, and government and multilateral organisations. This year, the firm scales up in the competition table for its market-leading work. The team is helmed by eight partners who advise on all types of transactions and disputes across the entire spectrum of industry sectors. Untethered to a particular niche, the lawyers are focused on assisting their renowned clients in all types of high-level, complex, and high-stakes matters. Its competition practice is well regarded in the market with the firm’s practitioners helping draft the current competition rules. An interesting statistic pegs its deals as having a combined value of more than $75 billion. Managing partner Anand Pathak has been the chairman of the task force on competition law of the Federation of Indian Chambers of Commerce and Industry, was a member of India’s government-appointed committee on national competition policy and investment, and he is currently the vice chair of the IPBA on Indian competition law. Other key partners include antitrust experts Shashank Gautam and Sreemoyee Deb, and dispute resolution experts Amit Mishra, Gaurav Mahajan, Akshat Hansaria and Vijay Purohit.
Work highlights
Represented the managing director of Carlsberg India, one of the individuals on whom a penalty was levied in the investigation conducted by the Competition Commission of India (CCI) against beer manufacturers.
Representing MakeMyTrip India in an ongoing investigation directed by the CCI in relation to information filed by the Federation of Hotels and Restaurants Association of India, Fab Hotels and Treebo Hotels.
Represented Amazon.com NV Investment before the CCI in relation to a show cause notice issued by the CCI pursuant to a complaint filed by Future Coupons Private.
Key clients
Airbnb, Britannia Industries, Carlsberg India, Cars24.
Shardul Amarchand Mangaldas & Co has a commanding presence in the market with top-tier practices across all practice areas and industry sectors. It is routinely considered one of the best firms in a highly competitive market for transactions and a first port of call for selective international clients. This year it is boosted into the uppermost category for its pharmaceuticals and life sciences expertise. The firm offers the best of all worlds: large capacity, pan-India presence, depth of expertise and experience, and market-leading professionals. It regularly advises the largest multinationals, Indian conglomerates, and private equity players and funds. The capital markets team continues to represent issuers in many of the country’s largest IPOs and the M&A group remains unmatched for its high-stakes, high-value transactions. Pallavi Shroff is well known for her extensive experience in dispute resolution, and Shardul Shroff is renowned for his expertise as a general corporate lawyer. There were multiple notable movements in the course of the last 12 months.
Client feedback
“Excellent technical knowledge. Sound understanding of market practices and associated risks.” – Banking and finance
“Thorough research, excellent drafting of affidavits and responsive teams. They take ownership of the engagement task and a professional approach.” – Banking and finance
“They have practical positions on legal interpretation and always deliver in a timely fashion.” – Capital markets
“Timeliness, efficiency and expert in the field of competition law.” – Competition/antitrust
“The team understands business, and provides clear advice shorn of unnecessary legalese. They are always looking to solve problems for the business, and they have become trusted advisers over the course of our engagement with them.” – Competition/antitrust
“Excellent, well-rounded team which provides specific and pointed advice.” – Corporate and M&A
“High-quality legal advice, and knowledge of market and regulatory developments.” – Corporate and M&A
“Very responsive and provide clear advice.” – Dispute resolution
“Strong understanding of the market, subject matter and time management.” – Media and entertainment
“Great team that is always available, has high competence and is able to close points.” – Private equity
“SAM has one of the strongest restructuring and insolvency teams which is supplemented by a wide spectrum of expertise that is required to resolve complex restructuring situations. Their experience and network in the region spanning insolvency, corporate law, debt and equity capital markets, regulations and litigation was instrumental in the successful outcome in a number of situations.” – Restructuring and insolvency
Manika Brar
“She has a positive attitude, good communication skills and great domain knowledge.”
Sayantan Dutta
“He has a hands-on approach and takes tough stands when needed.”
Jay Gandhi
“Excellent PE knowledge and personalisation.”
Radhika Indapurkar
“Dedicated, hard-working, good communications, good drafting skills, and excellent domain knowledge.”
Ila Kapoor
“Good team leader. Very responsive and great communications.”
Abhishek Parekh
“Great, well-rounded lawyer. He handled the negotiations and documentation very well.”
Veena Sivaramakrishnan
“We valued her depth of technical knowledge, coupled with a sound understanding of market practice.”
“She’s a top lawyer in restructuring and insolvency in the region with innovative solutions to solve complex, multi-stakeholder restructuring situations. She has an extremely strong ability to solve difficult problems and provide timely recommendations that have proven to be correct on a number of occasions.”
Puja Sondhi
“Great leader who manages situations very well.”
Yaman Verma
“We were very impressed by the ownership taken by Yaman. He provides excellent advice to businesses in a manner that is easy to understand for people with non-legal backgrounds. He is our go-to adviser for new ventures, as he helps us identify and remove potential roadblocks. He has a deep technical understanding of competition law, as well as the commercials of the e-commerce space, which he combines to provide cutting-edge advice.”
Work highlights
Advised WhatsApp and Meta Platforms before the Competition Commission of India in allegations of abuse of dominance in relation to WhatsApp’s privacy policy and update to its terms of service raised by a complainant.
Touchstone Partners was formed as a splinter from Platinum Partners in late 2020. Corporate specialist Karam Daulet-Singh is the managing partner, and he helms a team of 35 lawyers including six partners. The firm and its senior leaders have always been highly-regarded in the market for high end, complex M&A and private equity work.
Work highlights
Advised the Canada Pension Plan Investment Board on its acquisition of 100% of shares, alongside Baring Private Equity Asia and GIC, of Virtusa Corporation for $2 billion.
Represented Porsche to obtain merger control clearance under the green channel route within an internal restructuring exercise.
Acted for BP on obtaining merger control clearance in the $1 billion joint venture between the client and Reliance Industries for fuel retail marketing and related activities.
Key clients
CDPQ, DP World, Escorts, GHCL, Huntsman Group, Reliance Group, Valvoline Cummins
Trilegal climbs up in several rankings this year, including infrastructure, insurance, pharmaceuticals and life sciences and real estate. It is quickly becoming a preferred choice for heavyweight clients, an alternative to the famous family firms that inhabit the top echelon of legal services providers. Its TMT practice continues to gain traction as a market leader, and its private equity and investment funds offering is going from strength to strength. The firm’s five-year-old asset management and fund formation practice has rapidly risen to be a power player. The dispute resolution team, led by Shankh Sengupta, has proven its worth with an elite group of litigators acting in high-stakes matters for premier clients.
Work highlights
Represented Prosus and PayU Payments in securing unconditional approval from the Competition Commission of India in relation to the proposed $4.7 billion acquisition of BillDesk.
Energy and infrastructure boutique Archeus Law was established in 2016 by projects specialist Ranjit Prakash. The core focus of the team has been advising and representing clients in disputes arising in the infrastructure, energy and commodities sectors. It has a steady international client base, including a number of Chinese project developers, and it is retained by a major EPC contractor that is executing one of the largest ongoing metro projects in India. Prakash and partners Arun Mani and Rajdeep Choudhury are the key contacts and energy, infrastructure and oil and gas specialists.
Work highlights
Advised Bihar State Road Development Corporation in an arbitration with respect to a DBFOT road development project.
Acted for Shanghai Tunnel Engineering Corporation on multiple metro rail and rapid rail system projects in India.
Representing SEPCO1 Electric Power Construction Corporation in relation to construction of thermal power plants in India.
Hammurabi & Solomon Partners is a respected, established firm that offers a range of corporate law advice from M&As and foreign investments to restructuring and insolvency matters. The firm remains steady in the M&A and disputes tables this year and debuts in the real estate, banking and finance and construction tables. Its unique public policy and regulatory practice is well-regarded by clients for its government relations initiatives. The firm routinely undertakes research projects in the law, regulation and public policy space, leading to the preparation of white papers, draft legislations, theme discussions, support on emerging laws and regulations, and commissions of enquiry. The firm’s government relations practitioners have an in-depth understanding of the statutory and regulatory framework, and they maintain strong ties with executive agencies. Managing partner and key contact Manoj Kumar is a commercial and regulatory specialist. The firm welcomed corporate and restructuring specialist Jyoti Kumar Chaudhary from S&A Law Offices, as well as partner designate Rohit Jolly, whose practice spans insolvency, finance, data privacy and labour laws. The firm is in the process of launching new offices in Kolkata, Hyderabad and Chennai.
Work highlights
Acted for a real estate developer to contest multiple proceedings filed by a consortium of banks.
Advised the largest housing development company in India on various real estate projects including residential schemes in Haryana, an integrated complex in Orissa, land development in Kolkata, and joint development in Himachal Pradesh.
Boutique firm Legacy Law Offices is a top choice for disputes in connection with infrastructure projects. Its leadership team of four are experienced counsels in construction arbitrations that have worked on numerous landmark mandates in the past. The firm has an enviable track record of arbitration success, winning 98% of cases on behalf of claimant clients. The firm moves up a notch in the infrastructure and construction tables this year. Managing partner Gagan Anand and senior partner Sadiqua Fatma are the key contacts. Other names to note are co-managing partner Shalini Munjal and partner Madhav Sharma. The firm welcomed construction transaction-focused partners Amarendra Gogoi and Rahul Sharma, while disputes experts Ramanjit Singh, Paromita Majumdar and Ashwini Kumar Singh joined last year.
Client feedback
“During our dealings with Legacy, we have found their lawyers to possess an extensive knowledge and experience of working on national and international projects, client handling and other aspects of their practice. Their manner of rendering legal services by adopting a client-specific method is unique and palpable. From project management to dispute resolution, we have found the lawyers to be dexterous, skilled and professional. Given our ongoing project arrangement, a special mention to their distinguished contract management services is essential, as the team is extremely happy with the way in which the lawyers are handling the assignment.” – Construction
“The lawyers of the firm are highly professional and extraordinary, in terms of providing legal services in a variety of sectors. Presently, we are availing almost all services from this firm, owing to their distinctive attitude and time-efficient work. The management has always appreciated the manner in which their lawyers deal with the clients and have been in awe of the quality of the deliverables for each of our projects. There have even been times when we have approached Mr. Gagan to work on some project, where another lawyer was previously engaged, merely due to the excellence of his team and his knowledge.” – Construction
“The team is very accessible, diligent and dependable when it comes to the organisation’s legal needs. We have used multiple advocates in the past but this relationship has proven to exceed my expectations.” – Dispute resolution
“In my interactions with the lawyers of the firm, I have found them to be highly experienced and knowledgeable. They make the best possible endeavours to attain favourable orders for their clients, which is an appreciated quality. Another positive attribute of the firm is the way in which they keep the client updated about the different cases, even before being prompted.” – Dispute resolution
Gagan Anand
“Gagan Anand is an ardent legal professional with years of experience, which is well exhibited in his way of providing legal opinions and directing his junior lawyers. He is always approachable and provides ample time for every client in relation to their legal queries. I have found Mr. Anand to be an exceptionally well-established and knowledgeable legal professional.”
“We found Mr. Gagan Anand to be an extremely ardent lawyer with a profound knowledge of laws. His contributions and legal insight on the various projects of the company has been widely accepted by us as being practical and unique. His enriching experience is reflected through his work and the technique with which the clients are handled at the firm.”
“Mr. Anand is a highly reputed legal profession with a vast experience and expertise in the sector. We appreciate his responsiveness to the client queries and the manner of his management of the deliverables. The distinctiveness in his guidance to the team is extremely apparent in all the deliverables. It was an absolute pleasure to understand his unique perspective towards legal issues and professional angle of dealing with posed challenges. His expertise and excellence gathered over years of practice is evidently displayed through his result-driven approach and professional proficiency.”
“We have found Mr. Gagan Anand to have the ability and professionalism to handle different types of legal issues. He is a great lawyer and portrays professionalism at its best.”
Parveen Moudgil
“His vast experience handling various law enforcement agencies helped to provide quick, workable solutions to legal issues at hand. His depth of knowledge for civil and criminal laws, along with arbitration law, is immaculate.”
Work highlights
Represented the Directorate of Industries, Government of Himachal Pradesh, in relation to setting up one of only three sanctioned Bulk Drug Parks in India.
Advised project consultancy firm Meinhardt for the implementation of the Statue of Oneness project at Omkareshwar.
Key clients
India International Horticulture Market, Ministry of Road Transport in Mongolia, Tamil Nadu Infrastructure Development Board.
Founded in 2015 through the restructuring of an 85-year-old commercial law chambers, RPV Legal is a boutique firm with a broad commercial and white-collar defence and investigations practice. The lawyers have long track records acting on commercial disputes across a number of sectors, such as aviation, banking, construction, infrastructure, real estate, energy, life sciences and technology. They have acted as counsel in multiple landmark litigations and complex domestic and international arbitrations. In particular, the team specialises in high-value international and multi-jurisdictional arbitrations under ad hoc and institutional rules. The firm’s roster of clients comprises sovereign states and state corporations, business conglomerates, non-governmental organisations, trusts, banking and financial institutions and several high-net-worth individuals in India. The firm is headquartered in New Delhi and has a strong presence in the appellate courts and the Supreme Court. The key contacts for disputes are co-managing partners Shashank Verma and Kunal Verma, senior partner Yugandhara Jha, and partners Sooraj Sharma, Jatin Kochhar and Vipul Agrawal.
Client feedback
“RPV Legal has highly skilled and knowledgeable lawyers with expertise in various fields of law especially construction, real estate and arbitration. They are thorough professionals with a strong work ethic.” – Construction
“They excel in drafting, pleading, appearance and research. I highly recommend them.” – Construction
“They are very professional and knowledgeable.” – Dispute resolution
“RPV Legal is a disputes powerhouse. They are excellent in strategy and implementation in complex multi-jurisdictional matters. Their team is very professional, responsive, and astoundingly capable.” – Dispute resolution
“RPV Legal is the firm of choice for complex, high-profile cases. The quality of advocacy and preparation provided by the lawyers is exceptional. The team is easy to get on with, reliable, extremely well organised and quick to respond to calls and emails. They work to a very high and professional standard.” – Dispute resolution
“The team is very competent, enthusiastic and well equipped to handle arbitration and litigation in complex matters. They are thorough in their research and always offer sound and practical legal advice considering all aspects.” – Dispute resolution
“RPV Legal has the capability of expertly navigating through complex legal disputes. Their attention to detail and strategic thinking is praiseworthy. The team at RPV Legal is dedicated and highly skilled.” – Dispute resolution
“Lawyers at RPV Legal possess remarkable legal knowledge, strategic thinking, and meticulous attention to detail. Their team's in-depth knowledge of various laws and regulations, combined with their strategic thinking, ensured a solid approach to my case. Their ability to anticipate challenges and adapt their strategy accordingly was truly remarkable."” – Dispute resolution
“The lawyers at RPV Legal exhibit great versatility in their approach and possess exceptional expertise in the realm of commercial law. Whether it's court litigation, arbitration proceedings, or advisory services, they consistently deliver commendable arguments and defences. They effectively communicate their ideas, actively consider our feedback on their work, and provide honest and rational opinions, thereby establishing their legal advice as highly credible and reliable.” – Dispute resolution
“Professional and user-friendly team.” – Dispute resolution
“The lawyers are competent, knowledgeable and dedicated.” – Dispute resolution
“Hard-working, professional and responsive.” – Dispute resolution
“Highly professional and easy to work with.” – Dispute resolution
“Insightful, professional and good with strategy and delivery.” – Dispute resolution
“Good team size and domain expertise.” – Dispute resolution
“Some of their positive attributes are their great work ethics, professionalism, research skills, drafting, case strategy and legal knowledge.” – Dispute resolution
“Professional and hard-working.” – Dispute resolution
“Efficient services, up to date, and easily accessible.” – Dispute resolution
“RPV Legal places a strong emphasis on client satisfaction and tailors its services to meet their client's needs. This includes providing personalised attention, actively listening to our concerns, and keeping us informed about the progress of our cases. Their expertise allows them to provide effective legal advice, navigate complex legal issues, and offer innovative solutions to their clients.” – Infrastructure
“The lawyers at RPV Legal bring a wealth of expertise, showcasing a profound understanding of the legal landscape. They exhibit remarkable proficiency, unwavering determination, and a strong focus on achieving desired outcomes.” – Mining
“Trustworthy and reliable advice, experienced and highly skilled at their work.” – Mining
“Efficient and professional.” – Real estate
“Exceptional legal expertise, coupled with personalised attention and strategic guidance, made our experience with RPV Legal truly remarkable. Their team's commitment to thorough research, clear communication and unwavering advocacy ensured our success. We highly recommend RPV Legal for their professionalism, integrity and outstanding results.” – Regulatory
“RPV Legal has a blend of both young and experienced lawyers. With such a blend, you get the best of both worlds. They have exceptional knowledge and expertise in the field of regulatory matters. Their strategic approach and meticulous strategy helped me secure a favourable order in my case.” – Regulatory
“Very experienced, having sound knowledge of the law, capable, determined and result-oriented.” – Regulatory
“The RPV Legal team does a great job of communicating with its clients, and the structure they provide regarding the plan of action and timelines.” – Tax
Vipul Agrawal
“Very responsible and makes it easy for us to understand legal jargon easily.”
“Advocate Vipul Agrawal is extremely knowledgeable and has a positive outlook towards matters referred to him.”
“Knowledgeable, efficient, easily accessible and dependable.”
“Vipul is very solution-oriented, provides exceptional guidance and strives hard to achieve favourable results. His deep understanding and knowledge of contracts and arbitration law is impressive.”
“Vipul has strong advocacy skills. He takes time to thoroughly understand the intricacies of any dispute or issue and then offers creative strategies and innovative solutions. He has great professionalism and integrity.”
“Vipul is a skilled lawyer who thinks on his feet. He is very efficient, reliable and dedicated, and that makes all the difference to any case. He always exceeds expectations with his work and personalised approach to every matter.”
“Vipul is a reliable disputes lawyer with sound technical knowledge. He pays great attention to detail, offers practical advice and argues well.”
Waheb Hussaini
“Thorough, knowledgeable, and good, timely communications.”
Jatin Kochhar
“Working with Jatin was an absolute blessing. His legal expertise and attention to detail surpassed our expectations. He listened attentively, communicated clearly, and tirelessly fought for our case. I couldn't be happier with the outcome and highly recommend his services.”
“He is remarkable in research, understanding the nuances of the case and accordingly makes strategies to achieve the desired results in his client's favour. He possesses great knowledge and skills.”
“Jatin is a smart young lawyer with expertise in diverse laws. He is a highly skilled lawyer which allows him to provide effective legal advice, navigate complex legal issues, and offer innovative solutions to his clients. he believes in achieving the best outcomes for his clients and often works long hours, conducts extensive research, and meticulously prepares legal documents to deliver high-quality legal services.”
“Working with Jatin was an absolute pleasure. His professionalism, expertise and attention to detail were exceptional. He communicated effectively, provided timely updates, and fought tirelessly for our case. I highly recommend Jatin for anyone seeking reliable and results-driven legal representation. He demonstrates exceptional knowledge, dedication and attention to detail. His strategic approach and excellent communication skills instilled confidence throughout our case. We are incredibly grateful for his professionalism and the favourable outcome he achieved.”
“Jatin is a young partner. However, he may be young in age but he has exceptional knowledge and know-how of the legal industry. He was instrumental in drafting, research, strategising and in getting a favourable outcome for me.”
“He is a knowledgeable and experienced lawyer in the field of construction and real estate work. He excels in drafting, research and appearance before the courts and tribunals.”
“Jatin possesses a deep understanding of legal concepts and issues. His strategic thinking and meticulous approach to case preparation ensured that no stone was left unturned. His streamlined approach, unwavering commitment, and ability to explain legal complexities in a simple manner gave me immense confidence throughout the process.”
Sooraj Sharma
“Knows how to get to the core of the case and delivers exceptional results.”
“Exceptionally sharp and very pleasant to work with.”
“Absolutely first class. A phenomenal tactician and a brilliant legal mind.”
“Sooraj is extremely strategic and insightful. He is a patient listener and a deep thinker. He is brilliant and highly skilled in complex international disputes and an absolute pleasure to work with.”
“Sooraj is a fantastic advocate, gives robust and clear advice and is great with clients.”
“The communication and problem-solving capabilities that Sooraj possess is top-tier.”
Kunal Verma
“Kunal is an experienced and competent lawyer. He has a very practical approach to legal issues and easily breaks down complex problems to come up with the best solutions.”
“Highly experienced, effective and reliable. Has deep understanding and extensive knowledge of law.”
“He is super-knowledgeable, massively experienced, pragmatic, and good with clients.”
“Extremely smart, commercially minded and very good at explaining complex situations in a simple way.”
“Thorough, meticulous and impressively committed to the case.”
“Kunal is easy to work with, down to earth and an impressive advocate.”
Shashank Verma
“A very experienced lawyer, he has in-depth knowledge of law and public policy, and is professional and result-oriented.”
“A very decisive and effective commercial lawyer.”
“He is a calm and measured advocate, and a genuine expert in commercial disputes.”
Work highlights
Advised a major religious charitable foundation in a dispute concerning the construction of the world’s tallest religious skyscraper in India.
Successfully acted for India’s biggest construction company concerning petitions for interim measures of protection before the commencement of arbitration proceedings before the Commercial Court and High Court.
Formerly known as Singh & Associates, S&A Law Offices was established in 2002 by Manoj Singh. The full-service law firm is recognised for its corporate and M&A and dispute resolution offerings. The firm now houses more than 300 legal professionals across its four offices in Delhi, Gurgaon, Mumbai and Bangalore. Sector experience includes infrastructure, real estate, green energy, power, oil and gas, shipping, mining, manufacturing and transportation. This year, the firm moves up a tier in the construction table. Key contacts are disputes specialist Singh, joint managing partner Daizy Chawla, joint managing partner Gunita Pahwa, and senior partners Vijay Singh and Nilava Bandyopadhyay.
Client feedback
“Quick turnaround and sharp commercial acumen.” – Corporate and M&A
Daizy Chawla
“She’s a good relationship manager, always accessible and quick to respond.”
Work highlights
Advised Adani Vizag Coal Terminal Private in an arbitration matter against Visakhapatnam Port Trust.
Represented Jindal ITF in an arbitration against NTPC in relation to a unique project for transportation of coal through inland waterways for the first time in India through transhipment in mid sea.
Key clients
Mera Baba Reality Associates, PNC Raebareli Highways, Wainganga Expressway.
Former JSA partner Vishnu Nair set up Aarambh Legal in May 2021. The corporate and commercial boutique is based in Bangalore, and has a focus on fintech, data privacy and technology matters. Core practice areas of the firm include M&A, private equity, venture capital and employment. Since the firm’s inception, the team has been busy assisting companies across various stages of growth and industry sectors, as well as servicing social impact funds and private investors. It has been involved in more than 12 corporate transactions, ranging in value between $1 million and $24 million. Apart from Nair, partner Aishwarya H is a key contact. A new Bangalore office was set up in January 2023.
Client feedback
“Technical competence and availability at the right cost point.” – Corporate and M&A
“Marrying legal requirements with business requirements of our fund and the investee company” – Private equity
Aishwarya H
“Quick, adaptive and explains legal jargon to finance professionals in easy-to-understand language.”
“Strong technical competence and right attitude towards work.”
Work highlights
Acted for Oikocredit in their investment in Avanti Finance.
Advised Tanglin Venture Partners on its investment into Trusource Technology Private.
Ahlawat & Associates is a well-rounded firm that has core strengths in its corporate and M&A, private equity and technology and telco offerings. The firm advises middle-market clients as well as MNCs on their cross-border investment and acquisition transactions. Its TMT practice has steadily gained footing with a loyal client base seeking the team’s counsel on various regulatory matters over the years. The team additionally deals with nuanced issues pertaining to blockchain, the Internet of Things, the Cloud and artificial intelligence, among others. Its dispute resolution practice expanded with the addition of partner Apoorva Misra, who joined this year from HSA Advocates. Key contacts include corporate specialists Uday Singh Ahlawat and Sheena Ogra, alongside IP and TMT expert Gaurav Bhalla.
Client feedback
“Professional response and fast feedback.” – Intellectual property
“They have a cooperative team, timely responses, in-depth research and study on corporate topics. We appreciate their drafting skills and negotiations.” – Intellectual property
“Everything so far has been a delight. The associates are responsive, fast and hard-working. They are patient and get back with solutions/ideas very quickly.” – Intellectual property
Gaurav Bhalla
“He has been good in every aspect so far. He is humble and listens to the problem thoroughly.”
“He is a problem solver, goal-oriented, responsive and has advanced legal knowledge.”
Work highlights
Acted for Rooter Sports Technologies on raising multiple rounds of investment since its incorporation from various international and national PE investors and VC funds.
Represented Motovold in raising its seed round of funding.
Advised Lotus Holdings on its first round investment in Yogicsecret Healthcare.
Key clients
Gingerpan Swapcart, Intellibusiness, Redcliffe Lifetech, Service Stack Technologies.
New Delhi-based AKS Partners covers a range of corporate and commercial matters, such as dispute resolution, intellectual property, labour and employment and project finance. Clients occupy a vast swathe of sectors such as telecoms, travel, insurance, healthcare, technology, retail and government. Managing partner Sonal Kumar Singh is a corporate advisory and dispute resolution specialist. M&A partner Anish Jaipuriar and disputes specialist Gunjan Gupta are other individuals to note. In the past year, the firm has expanded to meet the demand of its clients by adding seven new associates.
Work highlights
Advised Swaratan Universal Private on the acquisition of the underlying patents and other intellectual properties in relation to a hydrogen-based water purifier.
Assisted Indian operating company Barco on identifying ways to reduce the capital of the company including by way of buyback.
Alaya Legal celebrates its 20th anniversary this year, being founded in 2003 by Divjyot Singh and Suniti Kaur. The firm’s core areas are corporate transactions and advisory, and dispute resolution. Sectoral focuses include energy, infrastructure and oil and gas. Its boutique energy practice covers areas such as upstream, midstream and downstream, gas infrastructure, refineries, petrochemical operations and marketing, crude oil, gas, LNG and petroleum products sales and aviation fuel farms. The litigators have a deep bench of experience in multiple Indian jurisdictions and at all levels of court, fora and tribunals.
Work highlights
Advised a digital platform facilitating patients and care-givers, in preparing a protocol for identification and assessment of the legal risk involved.
Reviewed contracts and prepared risk matrix and contract management tool for one of the largest full-service animation studios in the country.
Representing Indian Oil Corporation in arbitration proceedings that resulted from multiple contract disputes.
Full-service law firm ALMT Legal has a wide range of practices including banking and finance, capital markets, corporate and M&A, dispute resolution, labour and employment and private equity. Its disputes offering covers all commercial litigation and arbitration, and handles criminal matters. Senior partners Sameer Tapia, Aliff Fazelbhoy, SR Arun and Prashant Popat preside over two offices in Mumbai and Bangalore. The transactions team was boosted by the arrival of two senior associates, who joined from Vertices Partners and Wadia Ghandy & Co. The disputes group was also strengthened with the additions of two partners, Petrushka Dasgupta and Margaret D’Souza, who joined from IndusLaw and Acclivus Law Partners, respectively.
Client feedback
“They have a practical approach. Before doing the work, they would usually speak with us and explain what they wish to do and confirm with us if the work that they are planning to do is in line with our approach or not.” – Banking and finance
“They give positive advice.” – Dispute resolution
“Strong domain knowledge and professionalism.” – Media and entertainment
“Very professional and the lawyers get into the depth of the matter.” – Private client
“Very professional, dedicated and organised.” – Private equity
Sandhya Bhaskar
“Very thorough and very precise.”
Aliff Fazelbhoy
“He has a practical approach and is a solution provider.”
“He has positive attitude and helps us well.”
Vaishakh Kapadia
“Very detailed in his work, covers all aspects in any matter. He always meets deadlines.”
Arun SR
“Excellent domain knowledge and professionalism.”
Work highlights
Advised Luxeva India on its acquisition of Vidooly Media Tech Private.
Acted for Sanghvi Beauty and Technologies on its endorsement arrangement with a Bollywood film actress.
Key clients
ETA Technology Private, FactDr Healthcare Technology, Instellars Global Consulting, Media Moments Insight Private, Orion India Systems.
Founded in 2012, Alpha Rajan & Partners is a full-service law firm with offices in New Delhi and Bengaluru. It has a corporate and commercial focus, with much work centred on M&A, restructuring and insolvency, dispute resolution, real estate and private equity. The key contacts are managing partners and co-founders Rajan Gupta and Akshat Vikram Pande. The firm has friendly firm collaborations with European law firm Bajer and Bajerova Advokati and Vietnamese firm ALB & Partners.
Work highlights
Advised HT Media on a plethora of issues related to its acquisition of VCCircle shares.
Acted for the promoter of POPxo and its investors with respect to their exit from POPxo and acqsuition of a stake in MyGlamm.
Represented Oagri Farm on its acquisition of Dhara Foods.
Key clients
Geniemode Global, New Delhi Centre for Sight, Scholar Alley
Established in 2011, Amicus started as a boutique transfer pricing firm headed by its founder, Ashutosh Mohan Rastogi. Since then, it has expanded to offer a full range of corporate and commercial legal services with five partners and 20 other fee earners. The firm’s tax practice, though still best recognised for its transfer pricing expertise, has become an end-to-end purveyor of all taxation areas ranging from direct tax and international tax to GST. Clients come from the financial services and real estate sectors, and the firm has seen an uptick in its early-stage private equity work. Other key partners include corporate and PE specialist Shivi Rastogi, corporate partner Madhav Rastogi, litigation specialist Kinshuk Chatterjee and new real estate due diligence partner Yogesh Chaudhry.
Client feedback
“Very thorough.” – Real estate
“They describe very well and they respond to queries very quickly.” – Tax
“Amicus provides workable tax advice taking the business imperatives into account. A smart team of well-trained professionals who understand commercial as well as tax dynamics is their major strength. They are our one-stop shop for tax advice especially when it comes to international tax and transfer pricing.” – Tax
Garvit Gosain
“He provides timely and practical advice. He has quick turnaround times.”
Madhav Rastogi
“Very thorough.”
Work highlights
Acted for DMI Finance’s equity fund raise of $400 million from investors led by MUFG Bank.
Represented JK Cement and JK Paints and Coatings on its acquisition of a 60% controlling stake in Acro Paints.
Established in late 2019 by a founding partner of Trilegal, Anand Prasad, AP & Partners aims to service clients in sophisticated, high stakes and high value matters. Its corporate expertise rests in M&A, particularly those that are complex, distressed or contentious, and it has a growing expertise in technology matters. The New Delhi-based firm currently has seven partners and 35 fee earners. Apart from Prasad, the key contacts at the firm are corporate, private equity and dispute partners Arjun Sinha, Harshit Anand, Sandeep Das, Kamaljeet Singh, Dushyant Kumar and Moksha Bhat. Singh joined in April from JSA and Kumar arrived in August from IFC.
Work highlights
Advised Koninklijke DSM on its proposed merger with Firmenich for $21 billion.
Represented IPL Tech Electric on its acquisition by T1 Clean Mobility Private.
Assisted Narang Eye Institute on its 100% sale to ASG Eye Hospitals for nearly $3 million.
Advised Honda Power Pack Energy India on setting up a battery-swapping business in India.
Acted for Etsy on multiple matters including the impact of consumer protection e-commerce regulations on the India buyer launch, impact of its proposed India business arising from RBI regulations mandating localisation of financial data and card data storage rules, and the company’s insurance obligations.
Assisted Coding Ninjas on the sale of 100% share capital to Info Edge.
Advised ColdBrewTech Private on its $6.5 million investment from Krafton.
Full-service law firm Archer & Angel is headquartered in New Delhi with offices in Bangalore, Mumbai, Hyderabad and Pune. It counts both domestic and international companies as clients and offers the full spectrum of commercial and corporate advice, including IP and real estate. Senior partner Sanjay Chhabra leads the team that includes partner Bharti Ahuja.
Work highlights
Advised semiconductor conglomerate client on the local implementation of a sale of business between its local entities. The deal involved a number of complex issues including consolidation of businesses, taxation and considering the volume of the business being transferred, issues of stamp duty and related aspects had to be dealt with regularly.
Acted for an oil and gas automation company on its joint venture agreement with a peer in the same industry sector. The deal resulted in a formation of a new entity in India.
Represented a leading private equity firm on leasing of commercial space in Hyderabad.
Aretha Legal brings M&A, private equity and venture capital expertise to clients across Delhi, Mumbai, Bangalore, Hyderabad and Cochin. The firm was launched in late 2022 by the founding partner of Grey Matter Legal and a former Luthra and Luthra partner. Corporate and private equity specialists Nitin Gera and Ray Vikram Nath helm the firm’s corporate teams. Its energy and infrastructure group was bolstered by the arrival of partner Rahul Bhattacharjee from an in-house role. The young firm is also growing its dispute resolution, employment and IPR practices. Key clients include Ark Impact Asset Management, Stellaris Venture Partners India, Metro Cash & Carry India, Roto Pumps, Sequoia Capital and Dealshare.
Work highlights
Advised Everest Blowers and Everest Blower Systems on its sale of 100% shares to Ingersoll Rand.
Acted for Sequoia in a share transfer between its client and Sorting Hat Technologies in relation to K12 Techno Services.
Represented Northern Tools and Gauges on its 100% acquisition by Gulati Steel Fab.
Argus Partners continues to do well in the rankings on the back of its impressive client rosters and strong deal flows. This year the firm moves up in Banking and Finance and debuts in the private equity table. A notable development was the significant expansion of Argus’ corporate and M&A team with the joining of four new partners from Algo Legal and one from DSK Legal. The Algo arrivals – Abhinav Bhalaik, Ankit Guha, Armaan Patkar and Neha Madan – deepen the firm’s bench strength and expertise in the startup and emerging companies space.
The firm’s core practices cover banking and finance, corporate and M&A, dispute resolution, and restructuring and insolvency. On the corporate and M&A side, the firm regularly advises blue-chip clients on governance, structuring and compliance issues. The firm has a pan-India presence with offices in New Delhi, Mumbai, Delhi, Bengaluru and Kolkata. Its New Delhi office was launched in 2022 and caters specifically to the firm’s corporate clients. Krishnava Dutt, the firm’s managing partner, specialises in banking and finance, corporate and M&A and restructuring and insolvency.
Work highlights
Advised HDFC on its $60 billion merger with HDFC Bank, India’s largest ever M&A transaction.
Assisted Assets Care and Reconstruction Enterprise on the purchase of distressed loans from HDFC.
Acted for the Board of Control for Cricket in India on the Indian Premier League Media Rights auction for the 2023-2027 cycle.
Represented Tata Steel in the formulation of schemes and other related aspects in the proposed mega merger involving seven of its subsidiary and associate companies into Tata Steel.
Atlas Law Partners maintains a strong showing in our banking and finance, corporate and M&A, real estate and private equity rankings. It debuts in the dispute resolution table on the back of a significant addition to the group, prominent disputes specialist and senior partner Ritu Bhalla. She joined from Shardul Amarchand Mangaldas & Co in late 2022. The firm won numerous mandates last year despite the pandemic impact, acting on no less than 20 debt-related and M&A transactions. In the private equity space, the team is particularly specialised in handling startup investments on behalf of both funds as well as target companies. Co-founders and senior partners Harry Chawla and Niti Paul are key contacts.
Work highlights
Advised Apollo Hospital North on the acquisition of a hospital asset valued at $53 million.
Acted for PP Rolling Mills on its acquisition of a German company.
With offices in Mumbai, New Delhi and Bengaluru, Bharucha & Partners is an established full-service firm that handles complex, high-level matters. The firm has a stellar reputation in the market for its disputes work, with partners MP Bharucha and DP Singh lauded by peers. In the wake of this consistent recognition, the firms climbs into the top tier for dispute resolution his year. Key partners of the transactions practice group are Alka Bharucha, Justin Bharucha, Vandana Pai, Vishnu Dutt, Swathi Girimaji and Rohit Sharma. The firm welcomed former JSA partner and transaction specialist Sindhu Nayak this year.
Work highlights
Advised IMCD India on its acquisition of 100% of the share capital of Parkash Dyechem India.
Represented ANS Digital on its acquisition by FlipKart.
Based in Chennai, Calibre Legal is a full-service law firm founded by corporate specialist Mohammed Shadaan Saipillai. The firm covers a broad range of practice areas like M&A, real estate, general corporate advisory, dispute resolution and both direct and indirect tax. In addition to Saipillai, another key contact is partner Arun Kurian Joseph.
Client feedback
“Calibre Legal's professionalism and the ability to provide timely responses to client requirements stand out.” – Corporate and M&A
“Well-organised and efficient in providing service.” – Corporate and M&A
“Quick response time and quality work.” – Dispute resolution
“We appreciate their advisory, calmness, patience and ability to direct questions to scout for answers.” – Labour and employment
“They were able to advise us and bring to our notice clauses which were detrimental to us. They also provided us insights on what the various points in the contract. Most importantly they were able to provide us with additional points to safeguard our interests which we also didn’t think of. They helped us create a fair and watertight contract.” – Private client
Shadaan Saipillai
“He is intelligent, proactive and provides value for money.”
“All was good from him and he did well in all aspects of our requirements.”
“Accommodating to our ad-hoc schedule calls and patience in explaining the pros and cons.”
“Shadaan is highly professional and ensures timelines are met.”
“He thinks ahead and has the best in mind for the clients.”
Work highlights
Represented Intersea Maritime on its investment from Elan Maritime, by producing and finalising the share subscription and shareholders agreement, as well as providing regulatory advice.
Advised The Chennai Angels, Native Angel Network and Keiretsu on their investment in start-up Shriven Agritechs Private.
Chadha & Co is a mid-sized full-service corporate and commercial law firm based in New Delhi. Its client base spans SMEs to international Fortune 500 companies from all business sectors, such as automotive, food and beverage, and hardware and electronics. A unique offering is that the firm has several foreign desks with Japanese and European staff. Managing partners Rahul Chadha and Namita Chadha, and labour specialist Savita Sarna are key contacts. The firm hired senior-level associates from AZB & Partners and Singhania & Partners last year.
Client feedback
“Great management team who are very professional and highly skilled in their respective fields. They provided our company with suitable and impressive solutions after conducting extensive research.” – Corporate and M&A
Ashish Gupta
“We recommend Ashish for his extensive insight into foreign exchange rules and its applicability, his quick understanding of the scope of work and accordingly providing his knowledge. He has expertise to suit our needs and requirements. Also, he is very easy to talk to.”
Work highlights
Advised Agardsdotter & Co regarding a joint venture deal for setting up a resort in India.
Acted for Ymer Technology AB and Kanak AB on the restructuring of its Indian subsidiary.
Represented GHESA Ingeniería y Tecnología on the contract awarded by a Government of India enterprise for architectural planning and engineering services for the redevelopment of two railway stations.
Chandhiok & Mahajan is recognised by the market for its competition and antitrust expertise and is growing in prominence in the restructuring and insolvency sphere. This year the firm ascends a notch in the competition, and corporate and M&A rankings. The firm is active for its big tech and e-commerce clients, for example representing Google before the competition regulator. Another highlight is the firm’s extensive experience in leniency mandates, powered by its win for a client in the first-ever decision by the Competition Commission of India in relation to leniency where 100% immunity was granted. The firm has numerous seminal antitrust law achievements under its belt. It is at the forefront of competition policy development, with name partner Karan Chandhiok as the co-chair of the Assocham-National Council on Competition Law. Chandhiok and co-founder Pooja Mahajan are key figures.
Client feedback
“The firm's positive attributes include their depth of knowledge and experience, their relationships across various stratas in the M&A space, and of course their professional manner in dealing with unforeseen hurdles.” – Corporate and M&A
“Detailed, commercial and reasoned.” – Corporate and M&A
“Practical solutions and quick responses.” – Restructuring and insolvency
Sujoy Bhatia
“Intelligent, personable, commercial, and always available.”
Pooja Mahajan
“Knowledgeable and practical.”
Work highlights
Advised Phasorz Technologies on its 100% acquisition of the Indian Health Organization from the existing shareholders.
Acted for GR Infraprojects on its acquisition of Apex Buildsys for $12 million.
Clasis Law, with offices in Delhi and Mumbai, is a full-service Indian law firm that works with domestic and international clients on various aspects of law across industry sectors and practice areas. The firm has recently been active in corporate, labour, disputes and restructuring and insolvency matters. It moves up a tier in the corporate and M&A table. Managing partner Vineet Aneja and litigation partner Mustafa Motiwala are key contacts.
Work highlights
Advised a technology client on amalgamating two of their Indian subsidiary companies located in two different states of India.
Acted for a Chinese state-owned food processing and trading company on the share transfers of an Indian subsidiary.
Represented a French group engaged in animations sector on acquisition of the intellectual property rights from an Indian listed company undergoing corporate insolvency resolution process.
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 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 and Yash Ashar. The firm also has a unique bench of retired senior bureaucrats from key Indian regulators, such as the Reserve Bank of India and the Securities and Exchange Board of India, to provide an extra layer of expertise.
The corporate team welcomed three partners from various leading law firms: head of media, education and gaming Aarushi Jain joined from Nishith Desai Associates, Rishiraj Bhatt joined from Kanga & Co and Siddharth Hariani joined from Phoenix Legal. Disputes veteran Gauri Rasgotra left last year to establish her own boutique firm.
Work highlights
Represented Adani Group on its acquisition of a controlling interest held by Holcim Group in Ambuja Cements and ACC. This is the largest transaction in India’s infrastructure and materials space, valued at $10.5 billion, and has triggered two open offers, each in respect of Ambuja Cements and ACC.
Key clients
Bharti AXA General Insurance Company, Canara Bank, Escorts, GVK Group, Jindal Steel & Power, Mitsui Sumitomo Insurance Company, Signify, Tata Sons.
The market holds Link Legal in high regard for its strengths in aviation, construction, energy and infrastructure work. The firm is a first port of call for infrastructure players due to its vast experience in large-scale, long-term infrastructure projects and regulator relationships, and the ability to go beyond transaction basics into extra layers of service like financing insurance. The corporate team welcomed four new partners in the last 12 months, such as Jinni Sinha from IndusLaw and Sayantani Dutta from Wadia Ghandy & Co. Infrastructure specialist Rajesh Sehgal joined from Trina Solar. Atul Sharma and Nusrat Hassan are key partners for energy and infrastructure, and corporate and M&A, respectively. Managing partner Anand Srivastava is also a projects and finance contact. The firm recently combined with Dentons to become part of the global law firm’s sprawling international network.
Client feedback
“Timely and excellent delivery in all matters.” – Aviation
“The firm plans the activities well and delivers the services within the agreed timelines.” – Capital markets
“Very good knowledge and experience of the subject. It provides research-based representations and approach towards a matter.” – Energy
“They handled things very well, and have a knowledgeable partner and team. Approachable 24/7.” – Private equity
Namita Das
“Knowledgeable and approachable. Effective management.”
Milind Jha
“Quick turnaround for queries raised, timelines have been always met, and he is solution-oriented.”
Aditya Singh
“Rich knowledge, innovative, research based approach, and provides right and practical advice.”
Anand Srivastava
“Good approach and a problem-solver.”
Work highlights
Advised Aurobindo Realty and Infrastructure on its acquisition of Kakinada SEZ from GMR Group.
Acted for SarvaGram Group of companies and its promoters in a Series B investment led by Elevation Capital along with pro-rata participation from existing investor Elevar Equity.
Represented Inyantra Technologies on being acquired by Volex.
Key clients
Almas Global Opportunity Fund SPC, JSW Foundation, Mission1 Investments, Probus Insurance Broker, Slintel.
Full-service firm DSK Legal has enjoyed the fruits of its expansion last summer, climbing up in the rankings across a number of areas such as capital markets, IP and pharmaceuticals and life sciences. After the seismic shift of adding more than 60 new lawyers, most from Luthra and Luthra Law Offices, the firm continued to build out its teams. It welcomed corporate and finance specialists Srinivas BR, Siddharth Suresh and Karan Ajitsaria from Dua Associates. M&A expert Kunal Mehra, and disputes partners Prashant Mishra, Prashant Pakhiddey and Saleem Hasan Ansari, followed former colleagues over from Luthra and Luthra Law Offices, while R&I consultant Sanjeev Pandey joined from the State Bank of India.
Under the guidance of top-flight real estate partner Sajit Suvarna, the firm’s real estate offering is regarded as one of the strongest in Mumbai. With an added capacity on the corporate side from recent additions, the firm posted a strong showing by closing over 50 sizeable M&A deals. The firm’s specialised media and entertainment department is well received by the market. It boasts many A-list Bollywood film stars as clients, along with local and international media houses and platforms like Disney and Star India. Key contact and managing partner Anand Desai is a venerable figure in the legal industry for banking and finance, corporate and M&A, disputes, and media and entertainment. Deputy managing partner Suvarna is a banking and real estate specialist.
Client feedback
“Prompt responses.” – Banking and finance
“Professional service, timely deliverables and focused approach.” – Corporate and M&A
“Lawyers are process driven, courteous and knowledgeable.” – Corporate and M&A
“The team had a pragmatic approach, short response times and was in general very supportive.” – Corporate and M&A
“They took a resolution approach.” – Dispute resolution
“Lawyers have a thorough understanding of the matter, diligence and responsiveness. They take off the client the worries of what needs to be done in the matter.” – Dispute resolution
“They provide speedy, to-the-point advice and a willingness to clarify all issues asked. They are very knowledgeable on Indian labour laws and give practical advice that works.” – Labour and employment
“They are aware of recent changes and help close issues without unnecessary technicalities” – Media and entertainment
Rishi Anand
“He is approachable.”
Roochi Loona
“Prompt responses and good working knowledge of the law.”
Gaurav Mistry
“Knowledgeable, friendly and professional.”
Vikrant Singh Negi
“Always prepared and proactive with solutions.”
Dinesh Pardasani
“He is very diligent, accessible and hard-working for the task assigned.”
Ajay Shaw
“He takes a focused and balanced approach.”
Suyash Srivatava
“Sharpness in thought, and clarity and speed in advice.
Work highlights
Advised ReNew Power Private on its joint venture with Mitsui & Co. This project is the first of this kind of round-the-clock project in India.
Represented Kotak Investment Advisors on its $500 million investment in Kotak India Commercial Real Estate Fund IFSC.
Key clients
Bharat Innovation Fund, Neuberger Berman, Paine Schwartz Partners, PSA India Intermodal, SBI Life Insurance Company.
Full-service firm Dua Associates is best known for its litigation and arbitration strength. The dispute resolution team has over 150 lawyers spread out across its offices in New Delhi, Gurgaon, Bangalore, Chandigarh, Chennai, Hyderabad, Mumbai and Pune. Notably, the firm has a robust Supreme Court presence through its sister firm Dua Associates AoR, which is a firm registered with the top court and stacked with advocates-on-record that work in tandem with the Dua Associates partners. Clients of the firm include high-net-worth individuals, and domestic and international corporations engaged in sectors such as chemicals, agricultural products, automobiles, aviation, transportation, telecom, infrastructure, hospitality, technology, digital media, fashion, and luxury goods, among others. Dispute resolution specialist and senior partner Shiraz Patodia is a main contact, as is firm chairman and corporate expert Ranji Dua. Antitrust and corporate specialist Rahul Narayanan departed for a role at Amazon India.
Work highlights
Represented Bel Group when it entered into a joint venture in India with Britannia Industries.
Advised Mahindra Logistics on its acquisition of approximately 60% stake in ZipZap Logistics.
Key clients
Boeing, Brookfield, CapitaLand, Dow Chemical Company, Blaser Swisslube India, Desay SV Automotive Singapore, Kotak Securities, TVS Motor Company.
As one of the top law firms in India, Economic Laws Practice is highly ranked across the banking and finance, competition/antitrust, dispute resolution, regulatory and tax practices. It has seven offices across India, in Mumbai, New Delhi, Pune, Chennai, Bangalore, Ahmedabad and Gift City. The firm’s renowned tax group is acknowledged by peers as a market leader. It is led by tax specialists Rohit Jain, Nishant Shah, Harsh Shah, Kumar Visalaksh and Gopal Mundhra. Firm managing partner and main contact Suhail Nathani is often a lead partner in competition cases, as well as on private equity and M&A deals. The dispute resolution group welcomed associate partner Abhay Chattopadhyay from Amit Sibal’s Law Chambers.
Client feedback
“Their work and conduct in all matters entrusted to them were to the best of our satisfaction.” – Corporate and M&A
“Very strong subject-matter expertise, timely delivery and cost-efficient.” – Dispute resolution
“The lawyers give extremely prompt and practical advice and they understand the importance of long-term relationships as compared to other law firms that focus on short-term gains by always thinking about their legal fees. It has a very diverse and experienced group of partners that cover every department and sector which enables them to act as a one-stop shop for everything legal.” – Dispute resolution
“Local knowledge, good advice.” – Dispute resolution
“Very responsive, wide range of expertise and great team.” – Labour and employment
“The team is very professional in delivering assignments in a timely fashion and can be relied on for their astute and strategic advice. The team has the relevant talent and capability in each practice area which is mentored by a seasoned senior partner and the firm has been able to position itself very well for catering to the specific needs of each sector. The practice areas of tax, commercial advice and litigation has been well tested over time and gives them an edge over similarly placed competitors in delivering value to the corporate client.” – Oil and gas
“The firm and the team that works with us knows what we focus upon on deals and works with us effectively to ensure the documents close quickly and also ensure that we are adequately protected in the transaction.” – Private equity
“Sincere, diligent, particular, quick to revert, and they understand my needs and requirements.” – Real estate
“Easily accessible and they take a pragmatic approach.” – Regulatory
“Effective coordination between the parties and timely follow-up on outstanding action items to reach a timely resolution.” – Regulatory
“It has a team of great lawyers. We appreciate their understanding of laws, preparedness with cases, representation skills, approach and availability.” – Tax
“The lawyers are prompt, detailed, give practical insights and have sharp technical acumen.” – Tax
“They are highly skilled, technical, commercially astute and understand the business in which we operate. Their work product is excellent and timely.” – Tax
Vinay Bhutani
“He is very responsive, quick to find solutions and maintains very good relationships with the other side. That is very important for us in private equity to not ruffle feathers with the promoter during negotiations.”
Heena Chheda
“Extremely wise, particular, diligent, trustworthy and an overall excellent lawyer.”
Alok Jain
“Availability, local knowledge and advice.”
Rohit Jain
“I have known Rohit for more than 15 years. He is an excellent trusted adviser, pragmatic, very technical and understands our business well.”
Aakanksha Joshi
“Responsible behaviour and timely completion of tasks entrusted to her.”
Ritesh Kanodia
“Humble, prompt, technical and has solid business acumen.”
Yashojit Mitra
“Accessible, takes a pragmatic approach, and has good knowledge of our business needs.”
“Effective communicator that builds relationships between the parties.”
Jitendra Motwani
“Understands the client’s situation and aims to give practical solutions rather just legal remedies by the book. He is very knowledgeable in every field and treats every matter with equal importance.”
“He is a subject-matter expert. He is confident and provides timely delivery.”
Suhail Nathani
“Positive, frequent communications, and solution-oriented.”
Abhishek Sanyal
“He is very responsive, provides excellent advice and solutions, and is backed by a great team.”
Naresh Thacker
“We appreciate his experience, knowledge, representation skill, approach, understanding and availability.”
“Naresh is well placed for handling big stakes corporate litigations and leading such litigations from legal and strategic fronts. He is solution-centric and puts a lot of emphasis on offering innovative solutions and strategic advice on litigation matters.”
Work highlights
Advised Bharat Forge on its acquisition of JS Auto Cast Foundry India for $65 million.
Key clients
Jonston Controls, Syrma Technology Private, TransWorld Group.
Fox Mandal has a full-service offering and is best known for its real estate and IP practices. It has been busy building up its client portfolio in the healthcare, retail, IT and real estate sectors. Its corporate and M&A practice continues to gain traction on larger matters and it moves up a notch in the M&A table. On the IP side, the firm has been honing its focus on startup players, even offering pro bono advice as their clients work their way up. Key figures for real estate and IP are, respectively, partners Purnima Kamble and Santosh Vikram Singh. Managing partner Shuva Mandal, who is active on numerous transactions and disputes matters, is a respected figure in the market. Corporate specialist Rohan Singh joined the M&A team from Trilegal last autumn.
Client feedback
“Very responsive.” – Construction
“They are time-sensitive and discharge their obligations as per schedule. They have a team of legal professionals who look for perfection in their work and protect their clients’ interests in litigation.”– Dispute resolution
“They are commercially aware and technically skilled.” – Intellectual property
Apurupa Gundu
“Quick to understand the details shared and raises appropriate queries to fill the gaps.”
Santosh Singh
“He's knowledgeable and commercially astute, a winning combination.”
Rajesh Vellakkat
“Very communicative.”
Work highlights
Acted for Provigil Surveillance and iVIS International on their divestment and private acquisition.
Advised Zeta Holdings on its private acquisition of control and majority stake in BPE BioTree Private.
Hammurabi & Solomon Partners is a respected, established firm that offers a range of corporate law advice from M&As and foreign investments to restructuring and insolvency matters. The firm remains steady in the M&A and disputes tables this year and debuts in the real estate, banking and finance and construction tables. Its unique public policy and regulatory practice is well-regarded by clients for its government relations initiatives. The firm routinely undertakes research projects in the law, regulation and public policy space, leading to the preparation of white papers, draft legislations, theme discussions, support on emerging laws and regulations, and commissions of enquiry. The firm’s government relations practitioners have an in-depth understanding of the statutory and regulatory framework, and they maintain strong ties with executive agencies. Managing partner and key contact Manoj Kumar is a commercial and regulatory specialist. The firm welcomed corporate and restructuring specialist Jyoti Kumar Chaudhary from S&A Law Offices, as well as partner designate Rohit Jolly, whose practice spans insolvency, finance, data privacy and labour laws. The firm is in the process of launching new offices in Kolkata, Hyderabad and Chennai.
Work highlights
Advised an Indian multinational pharmaceuticals company on acquiring 51% share capital of a major pharmaceutical manufacturing company.
Representing Fertilizer Corporation of India on its joint venture documents relating to multiple fertiliser plant projects around the country.
Key clients
Adani Power, Tata Housing Development Company, Vedanta.
HSA Advocates has a commanding reputation in the market as a preferred firm for energy, construction and infrastructure work. Sophisticated clients know this is the firm for complex, multi-party, long-term infrastructure projects, as it has decades of experience working with all stakeholders from the beginning to the end of a project life cycle. The firm provides a complete suite of solutions for development, financing, transactions, restructuring and dispute resolution support. The firm is routinely found advising on power, road, port, airport, oil, gas, clean energy and special economic zone projects. Founding partner and projects legend Hemant Sahai is a key contact. The firm welcomed corporate and funds specialist Satish Kumar Anand and real estate partner Himani Singh Sood from SNG & Partners. Banking partner Sharmil Bhushan left for Kochhar & Co.
Client feedback
“Regarding their expertise, I can confirm they have deep knowledge and expertise in the practice area where we asked for their legal assistance. On their responsiveness, as a company and as I personally value the timely communication, they provide quick turnaround times on projects, and proactive outreach to clients on our external service providers. I can confirm that they were super-responsive both for meetings and via emails with their esteemed knowledge and positive attitude. Speaking of their client-focused approach, I had the impression that they prioritise clients' needs and goals that's why they provide tailored legal solutions that meet clients' specific needs.” – Regulatory
Jivesh Chandrayan
“Here are some examples that we appreciate about him: his adaptability, communication skills and time management, which at the end let us receive the kind of legal service we want.”
Work highlights
Advised Assystem on comprehensive due diligence of its target entities for acquisition.
Acted for Vizhinjam International Seaport on the signing of the tripartite agreement and its impact on the disbursement of viability gap funding.
IC Universal Legal is an eight-partner-strong firm that excels in private equity and investment funds work. This year it climbs into the top tier of the investment funds table on the back of strong market reviews of its dominance in the fund formation space. It has offices in Bangalore, Chennai, Delhi, Mumbai, Chandigarh and Ahmedabad, and extends its reach to the US and Brazil via its affiliation with US firm Chugh. Apart from its private equity, venture capitalist, credit fund and hedge fund clients, the firm is also active among startup companies. Industry-wise, the firm has expertise in banking, financial services, insurance, healthcare, industrial engineering, media, pharmaceuticals, IT, real estate and private clients. The firm boasts the highest market share among all the Indian law firms, of nearly 30% of the Indian investment funds establishment space. This includes private equity, venture capital, credit and hedge fund structuring as practice areas. Last year, the firm was involved in no less than 45 transactions across different verticals. Senior partners Kavitha Vijay and Tejesh Chitlangi are key contacts.
Client feedback
“On top of the regulatory framework for venture capital funds, the team has good insights into the thinking and working of the regulator in India.” – Investment funds
“Strong subject-knowledge expertise with a reliable and professional approach.” – Technology and telecommunications
Dikshit Mehta
“Dikshit is always accessible, prompt in his deliveries and gives a firm view on all matters with sound legal and logical backing.”
Sambhav Ranka
“Depth of knowledge, practical in approach and a problem-solver.”
Work highlights
Advised Coolberg Private on the sale of its beverage business to Ghodavat Consumer.
IndusLaw is a modern full-service firm that is rapidly coming up the ranks as a challenger to the established order of top legacy firms. This year, it moves up a notch in the real estate rankings and expanded by opening a new office in Gurugram. In total, the pan-India coverage includes offices in Bangalore, Chennai, Delhi, Hyderabad, Mumbai and the aforementioned Gurugram. The firm takes pride in its growing prominence among sophisticated clients for its private equity and TMT work. It specialises in working with investors across the full funding lifecycle and on a variety of funds including sector-specific ones such as technology, life sciences, e-commerce, retail and infrastructure. The capital markets team remains active, securing some of this year’s largest mandates for both issuers and bookrunners on more than 24 transactions. While maintaining a secure foothold at the forefront of ECM work, it is busy diversifying its suite of experience into newer products such as SPACs and business trusts, block deals and debt capital markets work.
There were several noteworthy inflows and outflows of talent this year. Banking partner Ashutosh Narang joined from Luthra and Luthra Law Offices last October. Corporate specialists Amrit Mehta and Shantanu Jindel joined from Majmudar & Partners and JSA, respectively, while partners Anubha Sital and Divya Varghese departed for in-house roles. On the disputes side, partners Maneesha Kongovi and Sourasubha Ghosh arrived from Argus Partners and Hariani & Co, respectively.
Client feedback
“The team are go-getters, always there to work on challenging assignments, and provide clarity on strategy in litigations. It helps us achieve the desired results” – Banking and finance
“Prompt client service, and accuracy in legal representation and advisory.” – Banking and finance
“Their legal expertise is top-notch and add to that the constant availability of folks to resolve any sudden issues that might arise makes them a perfect partner for any startup.” – Corporate and M&A
“The team is excellent. Litigation is the core area and very efficient. We are satisfied with their performance. Cost-wise, they also are very reasonable.” – Dispute resolution
“Solution-oriented, understands the clients’ needs very quickly, and provides well-thought resolutions.” – Dispute resolution
“Proactive, knowledgeable, good negotiators, and has good command on the subject.” – Investment funds
“We recommend them for their ability to understand business and define the solution from multiple angles; the availability of the team; their turnaround time; the involvement of senior partners in brainstorming and solutioning; and the ease of working with other ecosystem partners.” – Media and entertainment
“They are highly responsive and in touch with the local market. It is very hard to stay on top of the latest trends in legal terms from afar. They have an eye toward ensuring that appropriate and proper legal protections are in place, with a commercial sensibility to finding compromise.” – Private equity
“Great advice, super-responsive, creative problem-solvers, and a collaborative team.” – Private equity
“Interesting, practical and give timely insights.” – Private equity
“Proactive and knowledgeable teams across both practices.” – Private equity
“Very client-centric, highly available, responsive and caring. They have a long-term focus, not transaction focus.” – Private equity
“Sensitive to client needs, approachable and provide holistic advice.” – Private equity
“The team understands client objectives and priorities, and as a result gives us the specific advice we need.” – Private equity
“We appreciate their attention to detail, sector-specific knowledge in the areas we invest, deep knowledge about our positions in investments, and very personable and committed team.” – Private equity
Ranjana Adhikari
“She is very positive and has good domain knowledge. She shows a good balance of risk management and business solutioning, and has a great ability to bring in specialists as and when needed.”
Unnati Agrawal
“Goes out of her way to devise a solution. She has very good domain knowledge and communication skills.”
Aakash Dasgupta
“Excellent communication and expertise.”
Mayukh Dutta
“Very collaborative, founder-first attitude. Also he is approachable, personable, down-to-earth and solution-oriented.”
Sushmita Gandhi
“She is always there for any assignment and helps us in complex assignments. She has a positive approach to any issue at hand and has clarity of thought for devising suitable strategies to deal with such issues. The insights and advice provided by Ms. Sushmita has been quite helpful in overcoming the challenges faced in transactions and litigations.”
“Friendly, prompt, intelligent and articulate.”
“Very effective and quick.”
Anindya Ghosh
“Anindya has great legal expertise and is always available to guide us on any issues where his expertise is needed.”
“His industry knowledge is excellent. Anindya is very solution-oriented while being able to keep our interests in mind as well as the general regulatory landscape. He is very easy to interact with and personable, and he is always available when we need him.”
“Very focused on solutions to move things along. Diligent, knowledgeable, affable and pleasant to work with. He takes time out to explain things and always kept our best interests in mind. He is a fair negotiator.”
Amit Jajoo
“Extremely meticulous and solution-oriented.”
Pallavi Kanakagiri
“She is very knowledgeable about legal implications and is very good at applying this to our specific concerns.”
Winnie Shekhar
“Always available. Incredibly responsive. Works to advocate on behalf of clients, while finding a middle-ground and reasonable approach to meeting points of dispute. Creative in thinking.”
“Combines a sharp eye on legal issues with a commercial sensibility to getting a deal across the line. Provides useful and practical advice. Not overly aggressive but a good advocate for our positions.”
“Knowledgeable and responsive.”
Work highlights
Advised PhonePe on its full ownership separation from Flipkart.
Assisted Takahata Group on the sale of a 75% stake to Shriram Pistons and Rings.
Key clients
Addverb Technologies, Bharat Oman Refineries, Kalaari Capital Partners, Mayfield India, Robosoft Technologies.
JSA is a leading, pan-India full-service firm that excels in a number of areas including energy, infrastructure, technology and telecommunications, banking and finance, and construction. Its regulatory practice is well-regarded due to the firm’s strong credentials with telecoms, energy and infrastructure authorities. This year the firm rises into the top tier for its corporate and M&A work.
Work highlights
Advised Mindtree on its merger into Larsen & Toubro Infotech. At the time of publishing, this was the largest merger in the IT space so far.
Acted for JSW Cements in relation to its acquisition of Springway Mining Private from India Cements.
Key clients
Clearlake Capital Group, DuPont, Ford Motors, Google, Microsoft, Mobiv Acquisition, Pepsico India, Singapore Telecommunications.
Kanga & Co maintains its perch atop the real estate ranking, a respected firm with an enviable client list in this sector. It also excels in the construction space, while remaining steady in the banking and finance and capital markets tables. The firm has a strong practice of helping SMEs list on domestic SME stock exchanges, and in the last nine years has advised more than 70 such companies. On the offshore front, the team acted for ESR Cayman as local counsel on its debut on the Hong Kong Stock Exchange in 2019. Senior partner Preeti Mehta and Chetan Thakkar are key contacts.
Client feedback
“Correct and timely advice always keeping client’s interests in mind.” – Real estate
“Offers all services under one roof, quick turnaround and experienced partners.” – Real estate
Punit Damodar
“Always keeping clients’ interests in mind and goes out of his way to help clients.”
Preeti Mehta
“Responsive, quick turnaround and considered views.”
Work highlights
Advised Nippon Life India AIF Management on its investment in Amboli Developers.
Khurana & Khurana’s most prominent vertical is its intellectual property offering. It also covers corporate and commercial, banking, labour, real estate and tax law, and debuts in several of these rankings tables this year. The firm employs more than 200 professionals across its 10 offices in India, seven in southeast Asia, and two branch offices in the UAE and the US. The firm is proud of its top-tier status as being the number one PCT filer from India over the past three years. The firm welcomed 10 new associates to add further bench strength to its IP and real estate teams. Managing partner Vinod Khurana, and partners Tarun Khurana, Abhishek Pandurangi and Vinod Khurana are key contacts.
Work highlights
Advised Aarca Research India on its $1 million seed fund raise.
Assisted Sunfox Technologies on its $500 thousand fund raise.
Based in New Delhi, KKL Partners is a full-service law firm with strengths in real estate, corporate and M&A and aviation work. The team routinely advises offshore and onshore clients looking to create business synergies through international tie-ups via equity or debt investments or technology alliances. The firm is led by founding partner Aashish Vats.
Client feedback
“Very prompt service and quick turnaround time on the entire transaction. Also, the negotiations on term sheets were superb.” – Private equity
Aashish Vats
“He takes the best interest of the client and has the ability to meticulously negotiate with reason in transactions.”
Work highlights
Advised Agio Image, an investment entity holding investments across sectors, on its $21 million sale of equity stake in Medanta Group of Hospitals.
Acted for Daryaganj, a chain of restaurants in India, in acquiring an equal stake in setting up its outlet in Pacific Mall, New Delhi.
Kochhar & Co has a pan-India presence and excels in a multitude of practice areas, from dispute resolution to real estate. Its technology and telecommunications practice is lauded as one of the best in the country. Stephen Matthias is a leading technology lawyer who heads the firm’s first-rate team. Managing partner and litigation specialist, Rohit Kochhar is the main contact.
Work highlights
Assisted Finicity Technologies on the Indian elements of its global complete sale to Mastercard for $825 million.
Advised state-run energy firm Gas Authority of India on swapping its shares in Ratnagiri Gas and Power with NTPC.
Acted for technology giant, Tech Mahindra on its acquisition of the assets of TransSys Group, a global consulting and technology services company with presence in Asia, the Middle East and Africa.
Key clients
Aspire Systems, Cardinal Healthcare, Eze Castle, FEdex, FGVT Holdings, Maruthi Technologies, Oracle, Xpitax, Zebra Technologies
Mid-sized firm Krishnamurthy & Co offers full corporate and commercial transactional services. It is best known for its intellectual property practice, but has corporate and M&A and private equity practices that are growing in prominence. This year the firm advances up the infrastructure and dispute resolution ranking tables. The firm boasts a roster of elite clients. Senior partner Nikhil Krishnamurthy chairs the intellectual property department and he is a key contact. Other leaders at the firm include founding partner Naina Krishnamurthy, managing partner Shwetambari Rao, senior partners Ayush Agarwala and Rashmi Deshpande, and partner Rukmini Roychowdhury. Dispute specialist Aditi Mittal departed for Kochhar & Co in December.
Client feedback
“We value the team’s knowledge of the subject matter, speed of response, turnaround times and attention to detail.” – Corporate and M&A
Shwetambari Rao
“Extremely quick responses, attention to detail, fast turnaround of docs, quality of response, thorough, solution-oriented and innovative.”
Work highlights
Advised Biocon Biologics on its $3.34 billion acquisition of a biosimilar business from Viatris.
Represented Ingersoll Rand on its acquisition of Everest Blowers and Everest Blower Systems.
Key clients
Akna Medical Private, Axis Bank, JSW Infrastructure, One Media, Reliance Industrial Investments and Holdings.
Best known in the market for its leading tax and IP practices, Lakshmikumaran & Sridharan also provides in-depth advisory and representation in competition, corporate, real estate, and restructuring and insolvency matters. It has 13 offices across 11 cities and opened a new office in Kochi two years ago. For IP, the firm ascends into the top tier. It is famed for its contentious patent know-how, where the subject matter requires deep and detailed knowledge. The firm is a market leader in plant genomics and plant variety protection. The firm’s robust and historical tax practice specialises in GST, income tax, customs and litigation. The firm’s key contacts are IP practice head Malathi Lakshmikumaran, who is a specialist in the biotechnology, chemistry and pharmaceuticals sectors. Managing partner V Lakshmikumaran is a go-to name for tax matters. Notable clients in the arbitration practice area occupy the steel, power, consumer goods, hospitality and tourism, and infrastructure sectors.
Work highlights
Advised Ambience Group on its sale of a Panipat project to M3M. This was one of the largest deals in the real estate sector in the northern part of India and involved complex structure related advice from tax and regulatory standpoints.
Formerly known as PDS Legal, Lumiere Law Partners is a full-service firm that specialises in helping international companies form joint ventures and make entries into India. Its aviation specialty is notable. Managing partner Probal Bhaduri helms the team alongside aviation partner Vihang Virkar. The firm has experienced an uptick in restructuring and insolvency, and labour and employment matters.
Client feedback
“They are very reactive with a good knowledge of India's public and private sector environment. They provide very practical advice and are good at handling crisis management.” – Dispute resolution
Vihang Virkar
“Very responsive, business-minded, and he knows the legal environment well.”
Work highlights
Advised Softline Holding and Softline Group on acquiring shares of G7 CR Technologies India and G7 Dubai.
Luthra and Luthra Law Offices is a well-rounded full-service firm that has been a market leader in multiple practice areas over the past two decades. Sadly, founding partner and legendary rainmaker Rajiv Luthra passed away earlier this year. The firm has been replenishing its ranks by welcoming no less than 10 partners into the fold, ranging from corporate specialist Abhilekh Verma from Kochhar & Co to disputes expert Shreya Sircar from Bharucha & Partners. The firm is proud of its market-leading clean energy practice, prioritising niche deals that have a positive environmental or social impact.
Client feedback
“Partner attention and input have been key to the engagement. Commitment to acting as true advisers to the transaction and prioritising client interest even when it meant calling off the transaction and limiting the scope of the engagement.” – Corporate and M&A
“Very professional and timely updates.” – Dispute resolution
“Reactive and proactive.” – Intellectual property
Shireen Dhar
“Very responsive with practical solutions.”
Pranshu Paul
“Professional and helpful.”
Navin Syiem
“Navin has always been astute and accurate in his understanding of our issue, succinct in his advice, always mindful of time, prompt in his feedback and highly adaptive to the client's personality.”
Work highlights
Advised Scaler in connection with its 100% acquisition of an online learning platform.
Represented Medi Assist Insurance TPA in relation to its acquisition of 100% stake in Raksha Health Insurance TPA.
Maheshwari & Co offers the full range of commercial legal services to onshore and offshore clients. In particular, its strengths are in the banking and finance, manufacturing, telecommunications, infrastructure and energy sectors. The firm operates three core offices in New Delhi, Mumbai and Lucknow and has network offices in Ahmedabad, Bangalore, Chandigarh, Chennai, Goa, Gurugram, Hyderabad, Kochi, Kolkata, Pune, Surat and Shimla. Managing partner Vipul Maheshwari is a corporate specialist and he heads the leadership team of six partners that includes head of corporate Jyotsna Chaturvedi.
Work highlights
Acted for Sondrel Holdings London in the due diligence of its subsidiaries and regulatory advisory in India to enable the listing of the company on London Stock Exchange’s AIM market.
Dispute resolution firm Mansukhlal Hiralal & Co was established over 110 years ago and has offices in Mumbai and Delhi. In addition to a full array of transactional practices, the firm is known for handling the complete spectrum of contentious work from civil and criminal litigations up to the Supreme Court to international arbitrations. The Securities and Exchange Board of India is a key client, trusting the firm for many of its litigations. Managing partner Rajendra Shah, commercial disputes partner Bhushan Shah and real estate disputes specialist Purvi Asher are the firm’s key contacts. The firm moves up a notch in the real estate rankings this year and it was empanelled with the Oil and Natural Gas Corporation for dispute resolution advice.
Work highlights
Assisted Riverrecycle Oy, Finland and Riverrecycyle India in setting up an Indian subsidiary.
Advised IG Berries Private on drafting its shareholders agreement and the share subscription agreement.
Naik Naik & Co basks in its reputation as one of the foremost specialist firms for media and entertainment matters. It homes one of the largest dedicated teams in the country to this growing industry and is well regarded for the range of services it offers, such as media convergence, Internet of Things and content-related issues for digital and OTT broadcasting platforms. This year the firm moves up in the corporate and M&A table. It formed a unique alliance with IP behemoth Anand and Anand to cover IP litigation in western India. Founder and managing partner Ameet Naik is recognised by the market as one of the premier experts in the media and entertainment practice area. He is supported by partners Bharat Sharma, Abhishek Kale and Madhu Gadodia. This year the firm welcomed no less than 13 new fee-earners for its non-contentious media practice.
Client feedback
“They are approachable and client-friendly.” – Dispute resolution
“Naik Naik & Co understands the client's requirements well and strategises accordingly. They are accessible and have a team with relevant experience.” – Dispute resolution
Abhishek Kale
“He is client-friendly, responsive and does the work.”
Work highlights
Advised Collective Artists Network India on its investment from a Singapore-based technology unicorn.
Assisted French record label and music distributor Believe International on its $20 million acquisition of a majority stake in Think Music, a south India-based music and films distribution company.
Tax specialist firm Nangia Andersen has recently diversified its offering beyond tax and transfer pricing to include other verticals such as ESG and advisory in the IT, defence, power, cybersecurity and forensics sectors. The team boasts over 800 professionals in India alone, and it is a member firm of Andersen Global in India. It has eight offices in Noida, New Delhi, Gurugram, Bengaluru, Mumbai, Chennai, Dehradun, and Pune. The team is led by chairman and founder Rakesh Nangia. He is an international tax and litigation specialist. Five new partners joined last year from various firms including Capgemini, KPMG and Grant Thornton.
Work highlights
Advised My Credit SpA on acquiring an ARC business in India.
Nishith Desai Associates prides itself as being a domestic firm with an international presence. It has market-leading labour and employment, media and entertainment, private equity, regulatory, tax, and technology and telecommunications practices. This year it moves up into the top tier for its pharmaceuticals and life sciences prowess. In the frontier space of technology, the firm has been a pioneer and cultivated a leading presence in privacy and data protection, crypto-assets and blockchain, payments, media, education, life sciences, and gaming and gambling. Vikram Shroff heads the labour and employment practice, while Vaibhav Parikh and Nishchal Joshipura are key partners for technology and private equity, respectively. The team’s corporate team was bolstered by the arrivals of team leads Diksha Maheshwari and Ayushi Pandey, who joined from Trilegal and JSA, respectively.
Client feedback
“The dispute involved cryptocurrency and an M&A transaction, and they brought their expertise in those areas, as well as their excellent experience in international arbitration, to bear very well on behalf of the client. They were detail-oriented while also focusing on the broader strategic aspects of the case. They understood the client's business objectives and focused on achieving those objectives.” – Practice area
“Attention to detail and client-centric.” – Dispute resolution
“Nishith Desai provides practical advice and is very responsive.” – Infrastructure
“Strong subject knowledge, provides market updates and lawyers have polite behaviour.” – Investment funds
“Positive and helpful attitude, strong domain experience, wide business experience, and good at hand- holding.” – Private equity
“We have found NDA to have a very practical and solution-oriented approach towards any legal issue. This has enabled us to take informed decisions on matters falling under grey areas of law.” – Regulatory
Milind Antani
“In-depth knowledge of the pharma industry both in theory as well as in the practical application of law. He is very approachable.”
Vyapak Desai
“Very smart with excellent strategic sense and insight.”
Prakhar Dua
“Prakhar is smart, practical and available.”
Nandini Pathak
“We appreciate her subject knowledge, communication and team handling.”
“She has vast knowledge and experience in the sector. We appreciate her willingness to provide suggestions and recommendations, and be a support.”
Ratnadeep Roychowdhury
“Puts clients first. Takes an independent fresh view of the situation. Has conviction.”
Work highlights
Represented Goldman Sachs in the entire restructuring and inbound merger of Pepperfry group into Pepperfry India.
Advised AIG on the sale of Actis’s renewable energy platform to Shell.
Obhan & Associates is a four-partner firm with strengths in corporate and M&A, IP, and media and entertainment. The corporate practice specialises in joint ventures, acquisitions, FDI, and regulatory compliance and contracts, among others, and its private equity workflow is steadily increasing. It has an impressive client roster of international publishers and media houses. The firm moves up a tier in the media and entertainment table. As data protection and GDPR compliance take centre stage for many corporates, the firm has been active advising clients on this front. Senior partner Ashima Obhan is the main contact for corporate and media matters, while managing partner Essenese Obhan is the contact for IP, and technology and telecommunications.
Client feedback
Ashima Obhan
“She takes a very professional approach.”
Work highlights
Advised Okinawa Autotech on its joint venture with Italian company, Tacita SRL for the R&D, manufacturing and sales of motorcycles in India.
Acted for Mountain Valley Springs India on its expansion in the Middle East..
Key clients
Anand Kashi Hospitality, Sunwoda Electronic India, Tip Tales.
P&A Law Offices is a legacy corporate, commercial, financial and litigation law firm with an admirable list of market firsts. Founded in 1996, the firm has a stellar reputation among top Indian conglomerates, Fortune 500 companies, household-name multinationals, and government and multilateral organisations. This year, the firm scales up in the competition table for its market-leading work. The team is helmed by eight partners who advise on all types of transactions and disputes across the entire spectrum of industry sectors. Untethered to a particular niche, the lawyers are focused on assisting their renowned clients in all types of high-level, complex, and high-stakes matters. Its competition practice is well regarded in the market with the firm’s practitioners helping draft the current competition rules. An interesting statistic pegs its deals as having a combined value of more than $75 billion. Managing partner Anand Pathak has been the chairman of the task force on competition law of the Federation of Indian Chambers of Commerce and Industry, was a member of India’s government-appointed committee on national competition policy and investment, and he is currently the vice chair of the IPBA on Indian competition law. Other key partners include antitrust experts Shashank Gautam and Sreemoyee Deb, and dispute resolution experts Amit Mishra, Gaurav Mahajan, Akshat Hansaria and Vijay Purohit.
Work highlights
Acted for IL&FS on the sale of its iconic headquarters in Bandra Kurla Complex, Mumbai.
Assisted IL&FS and its group entities on the sale of 100% of the issued share capital of Ramagiri Renewable Energy and certain fixed assets by IL&FS Energy Development Company to Maithan Alloys.
Phoenix Legal is a full-service firm that is recognised for its banking and finance, infrastructure, insurance, dispute resolution, labour and employment and restructuring and insolvency practices. This year it moves up in the capital markets table. The four co-founding partners are the main contacts: Manjula Chawla, Saket Shukla, Abhishek Saxena and Sawant Singh. Three partners joined last year, including disputes specialists Gaurav Dudeja and Aman Avinav, and projects partner Pallavi Bedi. The latter joined from Luthra and Luthra Law Offices.
Work highlights
Acted for Definitive Healthcare on acquiring a 100% stake in Analytical Wizards including its Indian entity.
Advised BTB Marketing and its promoters on the acquisition of The Beer Café by B9 Beverages in a swap deal.
Pioneer Legal was established in 2019 by Satish Kishanchandani, Narendra Dingankar and Pritha Jha. Now, the numbers stand at six partners and more than 35 lawyers, with the firm rapidly gaining recognition for its high-quality corporate and private equity work. The firm moves up a tier in the technology and telecommunications table. The Pioneer team works across a swathe of sectors like education, advertising, healthcare, pharma, financial services and logistics. Apart from the corporate focus, the firm is also active in employment, insurance, IP, infrastructure, project finance and TMT matters. The firm has national expansion plans and will soon start its commercial litigation and arbitration practice in Mumbai. The other key partners and corporate specialists are Mayank Mehta, Shoubhik Dasgupta, Anupam Shukla and Sanket Jain.
Client feedback
“They are very knowledgeable, hard workers, and easy to work with.” – Corporate and M&A
Pritha Jha
“She is fun, loyal and hard-working.”
Work highlights
Advised Dentsu Group in relation to its acquisition of a majority stake in Extentia Information Technology.
Represented Alcon Electronics, the exiting promoters and other shareholders of Alcon on its sale to Exxelia, a French MNC.
Poovayya & Co has a strong reputation for its robust dispute resolution and real estate practices. Its corporate practice has also been active in the mid-market space and in specialist sectors. With the firm being based out of Bangalore, the firm has worked extensively with technology companies, on both the buy-side and the sell-side. The firm’s disputes team, led by partners Manu Kulkarni and Pallavi Smriti, is empanelled with the Election Commission of India and the Export-Import Bank of India. Partners Siddhartha George and Deepak Raj are key partners in the real estate department.
Work highlights
Representing Manjushree Group of Companies on the merger of seven of its companies.
Advised Asianet News Media and Entertainment with respect to its strategic partial exit from ARG Outlier Asianet News, the company operating India’s largest English news channel.
Acted for AxisCades on its tranches of investment in Mistral Solutions. The phased acquisition was completed as a step to enhance its capabilities in the embedded electronics space and improve its customer base in India.
Key clients
PricewaterhouseCoopers Finance
S&R Associates has market-leading capital markets, and corporate and M&A practices, a regular choice for selective clients. Its competition, disputes and insolvency practices are growing from strength to strength every year and perform well in their respective categories in our rankings. The firm moves up a tier in the banking and finance table. The firm is not a high-volume outfit but features on big-ticket mandates that require sophisticated lawyering. A highlight matter for the firm was playing a lead role for ArcelorMittal in its precedent-setting joint acquisition of Essar Steel with Nippon Steel, an instruction that required the savvy capabilities of its corporate, disputes and insolvency teams. Capital markets head Sandip Bhagat is highly respected in the market, with a peer acknowledging: “[There is] absolutely no comparison, he is simply the best.” Partners Rajat Sethi and Niti Dixit lead the M&A and dispute resolution teams, respectively.
Client feedback
“They are responsive to queries, provide valuable input and negotiate our position well.” – Banking and finance
“Quality of work is stellar.” – Corporate and M&A
“They are the most hard-working legal advisers I have ever worked with. They are very responsive, smart and hands-on.” – Corporate and M&A
Arpita Garg
“She is very approachable, knowledgeable with legal matters, provides valuable guidance and strongly negotiates our position on certain matters.”
Mohit Gogia
“Responsive and helpful.”
Rajat Sethi
“He is very responsive, knowledgeable, always attentive and available.”
Work highlights
Acted for BofA Securities India in connection with the delivery of a fairness opinion to the board of directors of the Housing Development Finance Corporation in relation to the proposed amalgamation of HDFC Investments and HDFC Holdings into HDFC.
Sagus Legal was founded in early 2020 by ex-Shardul Amarchand Mangaldas & Co corporate partner, Shruti Kanodia. The firm’s core strengths are corporate and M&A, dispute resolution, and energy and infrastructure work. It has offices in New Delhi, Odisha and Gurugram. The key partners are Kanodia and disputes expert Anand Kumar Shrivastava.
Client feedback
“Hard-working, clear on the law and provides practical advice.” – Energy
“They do extensive study and have a good command of the subject. They focus on cost-cutting for us, have a good office setup and a great team.” – Regulatory
“They are a diligent team and have good knowledge, acumen and the practical aspects of the legal craft. They provide business-oriented solutions. They have a good hold on regulatory and corporate aspects.” – Regulatory
Anand Srivastava
“Very clear on the business needs of the company and is able to stitch the requirements and regulations prevailing together to get the desired outcome.”
“He is doing well.”
“He’s got an in-depth knowledge of the business and good legal acumen. He has excellent client management skills, experience and thought processes.”
Work highlights
Advised on the $2.5 billion merger of Jindal Stainless (Hisar) and four other group companies into Jindal Stainless. This is one of the rare mergers where two companies both having their shares listed on stock exchanges in India and their GDRs listed overseas are merging together.
Established in the summer of 2021 by a group of partners from Luthra and Luthra Law Offices, Saraf and Partners has established itself well as a highly regarded full-service firm with core strengths in projects, corporate and M&A, private equity and restructuring and insolvency. The team consists of no less than 34 partners and over 180 personnel. By the end of 2022, the teams had executed more than $43 billion worth of transactions and in the spring of 2023, it acquired boutique real estate law firm, SRGR Law Offices and its 20-strong team. Key contacts include founder Mohit Saraf, and senior partners Bikash Jhawar, Vaibhav Kakkar, Manmeet Singh, Vikrant Kumar, Sanjeev Sharma and Saroj Jha. The firm welcomed a trio of R&I specialists: Ankur Khandelwal from Kochhar & Co, Anugrah Robin Frey from Luthra and Luthra Law Offices and Sairam Subramanian from Shardul Amarchand Mangaldas & Co.
Client feedback
“We appreciate they understand our business vis-à-vis legal attributes.” – Dispute resolution
“Responsive, expert and practical.” – Regulatory
Satadru Goswami
“We value his depth of knowledge and understanding.”
Vaibhav Kakkar
“Practical, responsive, understands risk mitigation and a great communicator.”
Manmeet Singh
“Good understanding of business and a man of details.”
Work highlights
Advised Viatris on the sale of its global biosimilars business to Biocon Biologics for $3.35 billion.
Represented Vedanta Group on its $20 billion joint venture with Foxconn to manufacture semiconductors.
Sarthak Advocates & Solicitors has extensive experience working on energy and infrastructure projects and is noted for its corporate and M&A, dispute resolution, and restructuring and insolvency practices. The firm is empanelled with public sector undertakings Bharat Heavy Electricals, Engineers India and Shipping Corporation India. Managing partner Abhishek Nath Tripathi leads the firm’s corporate and M&A, projects, infrastructure and project finance, and bankruptcy and insolvency practices, while senior partner Mani Gupta oversees the dispute resolution team. The firm recently welcomed transactions partner Apoorva Chandra from King Stubb & Kasiva and litigation partner Siddharth Rao from the World Bank Group.
Work highlights
Advised PopcornApps on acquiring shares from its employees and existing shareholders.
Assisted SunSource in the acquisition of Alpur Solar from Solarpack/Ekialde Solar.
Shardul Amarchand Mangaldas & Co has a commanding presence in the market with top-tier practices across all practice areas and industry sectors. It is routinely considered one of the best firms in a highly competitive market for transactions and a first port of call for selective international clients. This year it is boosted into the uppermost category for its pharmaceuticals and life sciences expertise. The firm offers the best of all worlds: large capacity, pan-India presence, depth of expertise and experience, and market-leading professionals. It regularly advises the largest multinationals, Indian conglomerates, and private equity players and funds. The capital markets team continues to represent issuers in many of the country’s largest IPOs and the M&A group remains unmatched for its high-stakes, high-value transactions. Pallavi Shroff is well known for her extensive experience in dispute resolution, and Shardul Shroff is renowned for his expertise as a general corporate lawyer. There were multiple notable movements in the course of the last 12 months.
Client feedback
“Excellent technical knowledge. Sound understanding of market practices and associated risks.” – Banking and finance
“Thorough research, excellent drafting of affidavits and responsive teams. They take ownership of the engagement task and a professional approach.” – Banking and finance
“They have practical positions on legal interpretation and always deliver in a timely fashion.” – Capital markets
“Timeliness, efficiency and expert in the field of competition law.” – Competition/antitrust
“The team understands business, and provides clear advice shorn of unnecessary legalese. They are always looking to solve problems for the business, and they have become trusted advisers over the course of our engagement with them.” – Competition/antitrust
“Excellent, well-rounded team which provides specific and pointed advice.” – Corporate and M&A
“High-quality legal advice, and knowledge of market and regulatory developments.” – Corporate and M&A
“Very responsive and provide clear advice.” – Dispute resolution
“Strong understanding of the market, subject matter and time management.” – Media and entertainment
“Great team that is always available, has high competence and is able to close points.” – Private equity
“SAM has one of the strongest restructuring and insolvency teams which is supplemented by a wide spectrum of expertise that is required to resolve complex restructuring situations. Their experience and network in the region spanning insolvency, corporate law, debt and equity capital markets, regulations and litigation was instrumental in the successful outcome in a number of situations.” – Restructuring and insolvency
Manika Brar
“She has a positive attitude, good communication skills and great domain knowledge.”
Sayantan Dutta
“He has a hands-on approach and takes tough stands when needed.”
Jay Gandhi
“Excellent PE knowledge and personalisation.”
Radhika Indapurkar
“Dedicated, hard-working, good communications, good drafting skills, and excellent domain knowledge.”
Ila Kapoor
“Good team leader. Very responsive and great communications.”
Abhishek Parekh
“Great, well-rounded lawyer. He handled the negotiations and documentation very well.”
Veena Sivaramakrishnan
“We valued her depth of technical knowledge, coupled with a sound understanding of market practice.”
“She’s a top lawyer in restructuring and insolvency in the region with innovative solutions to solve complex, multi-stakeholder restructuring situations. She has an extremely strong ability to solve difficult problems and provide timely recommendations that have proven to be correct on a number of occasions.”
Puja Sondhi
“Great leader who manages situations very well.”
Yaman Verma
“We were very impressed by the ownership taken by Yaman. He provides excellent advice to businesses in a manner that is easy to understand for people with non-legal backgrounds. He is our go-to adviser for new ventures, as he helps us identify and remove potential roadblocks. He has a deep technical understanding of competition law, as well as the commercials of the e-commerce space, which he combines to provide cutting-edge advice.”
Work highlights
Advised PVR on its amalgamation with Inox Leisure, leading to the merger of the number one and number two multiplex operators in India, with both being listed Indian companies.
Singh & Associates was established in 2002 by Manoj Singh. The full-service law firm is recognised for its corporate and M&A and dispute resolution offerings. Sector experience includes infrastructure, real estate, green energy, power, oil and gas, shipping, mining, manufacturing and transportation. Key contacts are disputes specialist Singh and managing partner Daizy Chawla. The firm moves up in corporate and M&A this year and welcomed corporate partner Neeraj Dubey from Lakshmikumaran & Sridharan. The disputes group experienced an influx of senior level talent from leading peers. Partners Reeta Mishra, Neeraj Dubey, Smita Singh, Jyoti Kumar Chaudhary and Apporve Vashistha joined from Kochhar & Co, Lakshmikumaran & Sridharan, Ashok Dhingra Associates, Hammurabi & Solomon and L&L Partners, respectively.
Client feedback
“They have skilled staff and turnaround time is fast. Their approach is very professional.” – Dispute resolution
“The partners have a good understanding of the not-for-profit position of the organization and the different acts that impact its proposed activities to make the organization more sustainable. They provide clear, to-the-point, professional legal advice and have timely responses.” – Regulatory
“The legal associates we communicated with for these services were extremely thorough and timely in their responses.” – Regulatory
Sunaina Jhingan
“Sunaina demonstrated excellent communication and was very timely in her responses.”
Neha Mittal
“Good communication, responsive, good professional knowledge and patient.”
Manoj Singh
“He has in-depth knowledge of the subject matter.”
Work highlights
Advised Dennemeyer India on the incorporation of its wholly-owned subsidiary.
Assisted Fircosoft India in receiving an extension approval from the Reserve Bank of India.
Acted for KattaiKkuttu Sangam, a non-profit association of professional theatre performers, on concerns about rentig out its Gurukulam space as a home stay.
Key clients
Ashoka Bearing Housing, Notesgen Technologies, Tirupati Basmati Exports
Singhania & Partners is particularly noted by market insiders for its experience in infrastructure-related disputes, with its lawyers known for their roads, highways, railways, energy and infrastructure specialties. For example, the firm is empanelled by the National Highway Infrastructure Development Corporation, Security Printing and Minting Corporation of India, RailTel Corporation of India, and National Hydropower Corporation. It recently expanded its office space in Bangalore and aims to recruit more for its corporate and disputes groups. Managing partner Ravi Singhania is a respected name in the market. Key contacts include Singhania, senior partners Dipak Rao and Shilpa Shah and disputes partner Vikas Goel. The firm welcomed its new CEO, Varun Jain, from Google.
Client feedback
“They provide thoughtful and creative advice, are very responsive and sharp, and figure out solutions rather than explaining why they can’t do what the business wants to accomplish.” – Corporate and M&A
Ravi Singhania
“Ravi is very thoughtful and a problem-solver.”
Work highlights
Advised Satluj Jal Vidyut Nigam on the restructuring of its business operations.
Assisted Vogel AG Switzerland on sale of its stake in a joint venture company.
Key clients
AML RightSource, Inmarsat India, Kamic Group, Serendipity Partners, Trellance.
Mumbai-headquartered Solomon & Co is a full-service law firm that was founded in 1909. The team has a reputed real estate practice, with its senior specialist Jonathan Solomon active for over 55 years in this space. Its practice has deep roots in the state of Maharashtra, where it has long-forged relationships with several of the largest real estate developers in and around Mumbai. Over half of the real estate group speak the local language of Marathi and they cover all manners of real estate law and advisory. Solomon and managing partner Aaron Solomon are the key contacts.
Work highlights
Acted for Shapoorji Pallonji Infrastructure Capital Company on the sale of its solar photovoltaic power project located in Karnataka, by way of a 100% stake sale in Radiance Solar Private.
Advised an Indian rail electrical manufacturing company on its bidding for a project with a global rolling stock manufacturer and transfer of technology arrangement.
Represented a domestic sustainable sanitisation company on its acquisition of a water treatment and recycling solutions company.
Established in 2016, Spice Route Legal is a rising star in the technology and telecommunications space, with one of the largest dedicated fintech and data practices in the country. It has four offices in Mumbai, Bangalore, Delhi and Kochi. The firm is also an active player in the mid-market M&A and private equity segment. The firm houses multiple generalist lawyers who have expertise in technology and telecommunications, media and entertainment, energy and healthcare. Key contacts include founding partners Mathew Chacko and Praveen Raju, who each have spent numerous years practising law outside of India. Their experience is the backbone of the firm’s “border-agnostic” deal perspective. The firm moves up a tier in the private equity and regulatory tables this year.
Work highlights
Advised SenseHawk, a US-based analytics platform for solar energy companies, in the sale of approximately 79% of its stake to Reliance Industries.
Assisted Ananta Capital on its majority control investment into Springwel Mattresses.
Stratage Law Partners recently celebrated its three-year anniversary, having set up shop in August 2020. The firm specialises primarily in private equity, venture capital, corporate and M&A and real estate matters, but its dispute resolution offering has grown steadily in the past two years. Managing partner Darshan Upadhyay, and partners Shyam Pandya and Bhavin Gada are the key contacts. The team welcomed associate partner and disputes specialist Ameya Deosthale from Lexicon Law Partners in 2022.
Client feedback
“Thorough analysis and out-of-the-box thinking.” – Real estate
Bhavin Gada
“He has in-depth knowledge and innovative ideas.”
Work highlights
Advised Safex India in 100% acquisition of the issued share capital of Briar Chemicals by Safex Holdings.
Acted for Insight Cosmetics and its promoters in relation to the sale of a controlling stake to Reliance Retail Ventures.
Tag & Bench is the newest iteration of Ray Menon Law that is helmed by corporate specialist Shraddha Ray Menon, who has over two decades of legal practice. The firm is primarily focused on dispute resolution, and corporate and commercial matters. It has experienced an uptick of growth recently on advising its corporate clients on retrenchment laws pan India, and working on food and beverage regulatory matters. The firm was empanelled by the NCDEX, a national commodities exchange that interfaces with farmers and bulk commodity purchasers. The firm has also expanded its offering to cover policy and legal risk, and specifically hired principal associate Neil Dawes Bhutani from Airbus earlier this year to dedicate his time to this growing area.
Work highlights
Acted for Accelera Enterprises on its investment into an edtech company in Bangalore.
Assisting Airbnb India and Airbnb Global Capability Centre on a spectrum of trust and safety, data privacy, licensing and employment issues.
Representing start-up tech platform Blue Pencil Strategies on all development-related documents and policies with wire frames.
Key clients
Monti Grupo Spa, Somerset Indus Healthcare Fund, Terumo India, XPLUSD Events
Touchstone Partners was formed as a splinter from Platinum Partners in late 2020. Corporate specialist Karam Daulet-Singh is the managing partner, and he helms a team of 35 lawyers including six partners. The firm and its senior leaders have always been highly-regarded in the market for high end, complex M&A and private equity work.
Work highlights
Advised BP on its investment of $1 billion in a fuels and mobility joint venture with Reliance Industries.
Represented Lanxess in the sale of its organic leather chemicals business to TFL Ledertechnik for EUR115 million.
Acted for ZPG Comparison Services Holdings in connection with the Indian leg of its global acquisition of Admiral Group by way of share and business transfers.
Key clients
Graviss Good Solutions, Lupa India Systems Holdings, Sona Autocomp Holdings, Wellington Management
Trilegal climbs up in several rankings this year, including infrastructure, insurance, pharmaceuticals and life sciences and real estate. It is quickly becoming a preferred choice for heavyweight clients, an alternative to the famous family firms that inhabit the top echelon of legal services providers. Its TMT practice continues to gain traction as a market leader, and its private equity and investment funds offering is going from strength to strength. The firm’s five-year-old asset management and fund formation practice has rapidly risen to be a power player. The dispute resolution team, led by Shankh Sengupta, has proven its worth with an elite group of litigators acting in high-stakes matters for premier clients.
Work highlights
Advised ArcelorMittal Nippon Steel India on its acquisition of various ports and power assets from the Essar Group in Andhra Pradesh, Gujarat and Odisha.
Known in the market for its past collaborations with Linklaters, TT&A proves its leading firm status by remaining an ‘Outstanding’ firm for banking and finance and moves up a notch in the private equity table. Its capital markets practice is highly regarded for its quality, focused specialism in debt issuances, including masala bonds, and structured high-yield transactions. Partners Sonali Mahapatra, Rituparno Bhattacharya, Nidhi Rani and Rahul Gulati form one of the country’s most well-regarded teams for banking and finance. Last year, the firm was bolstered by the arrival of banking and corporate powerhouse Gautam Saha and a team of five partners from AZB & Partners.
Work highlights
Advised HSBC on its acquisition of L&T’s mutual fund business for $425 million.
UKCA and Partners is a full-service law firm with historical roots going back 34 years. It has three partners, one of counsel and 15 associates. The firm is noted for its strengths in banking and finance, corporate and M&A, restructuring and insolvency, and real estate. This year it moves up one ring in the R&I rankings, a testament to its specialty in this area. Managing partner Manisha Chaudhary has experience in all practice areas, notably corporate and M&A and dispute resolution.
Client feedback
“UKCA & Partners are extremely client-centric, and provided excellent service and well-researched legal documentation in support of the legal action taken.” – Corporate and M&A
“They have very strong professional skills in corporate restructuring backed by unparalleled litigation management expertise.” – Corporate and M&A
Manisha Chaudhary
“Very focused, committed and hard working.”
Navin Dahiya
“Very thorough understanding of the subject, with a positive attitude ready to take everything for a matter.”
Work highlights
Advising DLF Group and its various entities on three restructuring schemes.
Acting for Adeline Builders & Developers on its scheme of arrangement with respect to the internal restructuring of its group companies.
Representing a shareholder of a company in agreement with a private equity investor, on his exit strategies while ensuring the shareholders and trademark agreements with the PE fund are not violated.
Key clients
Exicom Tele-Systems, Juniper Green Energy, MGF Developments, Wave Group
Founded in 2015, Veritas Legal’s bread-and-butter are its corporate and M&A and private equity practices, with its dispute resolution offering also rapidly rising in prominence. This year, it debuts in the banking and finance, and construction rankings. For its size, the firm punches above its weight, amassing an impressive deal flow and volume last year. It consistently placed in respected M&A and PE league tables within the top 10 of all Indian law firms. Sector-wise, it is deepening its footprint in pharmaceuticals and life sciences, real estate, and technology and telecommunications. Founder and managing partner Abhijit Joshi is a highly respected M&A and private equity lawyer, and partners Rahul Dwarkadas and Neveille Mukerji specialise in dispute resolution. Other key partners include Kunal Doshi and Tushar Raut. Recently, the firm welcomed banking and finance partner Jhinook Roy and corporate specialist Shubhangi Pathak from Khaitan & Co and Tuli & Co, respectively.
Work highlights
Advised FedEx on its investment in and commercial agreement with Delhivery.
Assisted Aegis Logistics on its joint venture with Koninklijke Vopak.
Wadia Ghandy & Co is one of the oldest full-service law firms in India, established in 1883. The firm has offices in five cities and houses more than 150 fee earners. The firm’s banking and finance offering is widely respected and this year it ascends into the Highly Recommended tier for this work. The firm also boasts strengths in aviation, disputes and real estate. The key contacts include senior partners Shabnum Kajiji and Hamid Moochhala, and joint managing partners Ashish Ahuja and Dhawal Mehta.
Work highlights
Advised HDFC Bank on its merger with HDFC. This was the largest merger in Indian corporate history and it resulted in the creation of India’s second largest bank.
Agrud Partners is a commercial firm with a core disputes pillar helmed by partners Sajid Mohamed and Sumit Raghani. It was formerly known as PDS & Associates. On the corporate advisory side, the firm works with public and private companies in structuring, documenting and negotiating on a wide variety of corporate finance, capital raising, recapitalisations and corporate debt restructuring transactions. On the litigation front, the team is experienced at all levels of courts in the country.
Work highlights
Represented Hindustan Oil Exploration Company in an arbitration petition in the Bombay High Court filed against it by Ultra Deep Subsea.
Acting for Bank of Baroda in a suit pertaining to a one-time settlement and damages over non-convertible debentures issued by Apple Finance.
Represented Reckitt Benckiser India Private in a suit for alleged disparagement of product.
Key clients
Dabur India, Vihaan Direct Selling, Zee Entertainment.
New Delhi-based AKS Partners covers a range of corporate and commercial matters, such as dispute resolution, intellectual property, labour and employment and project finance. Clients occupy a vast swathe of sectors such as telecoms, travel, insurance, healthcare, technology, retail and government. Managing partner Sonal Kumar Singh is a corporate advisory and dispute resolution specialist. M&A partner Anish Jaipuriar and disputes specialist Gunjan Gupta are other individuals to note. In the past year, the firm has expanded to meet the demand of its clients by adding seven new associates.
Work highlights
Represented Housing and Construction Lanka in a complex arbitration concerning the construction of a residential township in Sri Lanka.
Acted for the Airport Authority of India on its arbitration matters pertaining to disputes arising out of a licence agreement executed for ensuring world-class ground-handling service at the airports.
Key clients
Gas Authority of India, National Textile Corporation, Reebok India.
Full-service law firm ALMT Legal has a wide range of practices including banking and finance, capital markets, corporate and M&A, dispute resolution, labour and employment and private equity. Its disputes offering covers all commercial litigation and arbitration, and handles criminal matters. Senior partners Sameer Tapia, Aliff Fazelbhoy, SR Arun and Prashant Popat preside over two offices in Mumbai and Bangalore. The transactions team was boosted by the arrival of two senior associates, who joined from Vertices Partners and Wadia Ghandy & Co. The disputes group was also strengthened with the additions of two partners, Petrushka Dasgupta and Margaret D’Souza, who joined from IndusLaw and Acclivus Law Partners, respectively.
Client feedback
“They have a practical approach. Before doing the work, they would usually speak with us and explain what they wish to do and confirm with us if the work that they are planning to do is in line with our approach or not.” – Banking and finance
“They give positive advice.” – Dispute resolution
“Strong domain knowledge and professionalism.” – Media and entertainment
“Very professional and the lawyers get into the depth of the matter.” – Private client
“Very professional, dedicated and organised.” – Private equity
Sandhya Bhaskar
“Very thorough and very precise.”
Aliff Fazelbhoy
“He has a practical approach and is a solution provider.”
“He has positive attitude and helps us well.”
Vaishakh Kapadia
“Very detailed in his work, covers all aspects in any matter. He always meets deadlines.”
Arun SR
“Excellent domain knowledge and professionalism.”
Work highlights
Assisted Damas as plaintiff in a suit against Deepu Jewelleries in relation to defaulted banking facilities.
Represented Reliance Alternative Investment Fund in an arbitration proceedings against a respondent company over breach of an agreement.
Full-service national law firm ASP Advocates is based in New Delhi, but over the years has rapidly expanded its network of associate offices to include Mumbai, Kolkata, Chennai, Chandigarh, Bangalore, Lucknow, Hyderabad, Gangtok and Patna. It offers a wide range of corporate and commercial, and dispute resolution services for international and domestic clients. A key pillar is the disputes and arbitration group, led by partners Abhixit Singh and Abhishek Seth.
Work highlights
Pursued a public interest litigation in the Patna High Court seeking improvements and changes to the test, track and treatment protocol in the State of Bihar after the Covid-19 pandemic.
Defending a large Dutch EPC company against an arbitration challenge related to claims arising out of the execution of an EPC contract including those of prolongation costs for project delays, price variations and other breach of contractual obligations.
Represented an Indian subsidiary of a leading automotive manufacturer in proceedings challenging an order passed by a state pollution control board.
Atlas Law Partners maintains a strong showing in our banking and finance, corporate and M&A, real estate and private equity rankings. It debuts in the dispute resolution table on the back of a significant addition to the group, prominent disputes specialist and senior partner Ritu Bhalla. She joined from Shardul Amarchand Mangaldas & Co in late 2022. The firm won numerous mandates last year despite the pandemic impact, acting on no less than 20 debt-related and M&A transactions. In the private equity space, the team is particularly specialised in handling startup investments on behalf of both funds as well as target companies. Co-founders and senior partners Harry Chawla and Niti Paul are key contacts.
Work highlights
Assisted Uppals IT Projects Private in filing a writ petition seeking orders for setting aside a Demand Notice issued by Greater Noida Industrial Development Authority.
Defended Frost Falcon Distilleries against a suit filed by plaintiff Pernod Ricard India in a trademark infringement suit.
With offices in Mumbai, New Delhi and Bengaluru, Bharucha & Partners is an established full-service firm that handles complex, high-level matters. The firm has a stellar reputation in the market for its disputes work, with partners MP Bharucha and DP Singh lauded by peers. In the wake of this consistent recognition, the firms climbs into the top tier for dispute resolution his year. Key partners of the transactions practice group are Alka Bharucha, Justin Bharucha, Vandana Pai, Vishnu Dutt, Swathi Girimaji and Rohit Sharma. The firm welcomed former JSA partner and transaction specialist Sindhu Nayak this year.
Work highlights
Represented IIRF India Realty VIII in proceedings before the Maharashtra Real Estate Regulatory Authority. The matter is of commercial significance since it deals with an order which holds an equity investor with veto rights as a ‘promoter’ of a real estate project.
Advised Edelweiss Asset Reconstruction Company before the National Company Law Tribunal after it allowed the client’s application to liquidate SK Wheels go through.
Clasis Law, with offices in Delhi and Mumbai, is a full-service Indian law firm that works with domestic and international clients on various aspects of law across industry sectors and practice areas. The firm has recently been active in corporate, labour, disputes and restructuring and insolvency matters. It moves up a tier in the corporate and M&A table. Managing partner Vineet Aneja and litigation partner Mustafa Motiwala are key contacts.
Work highlights
Represented an investment banking adviser before the High Court of Bombay for the enforcement and execution of a foreign arbitral award.
Advised a wireless solutions company in filing a commercial suit against a website design and digital agency for default in payment.
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 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 and Yash Ashar. The firm also has a unique bench of retired senior bureaucrats from key Indian regulators, such as the Reserve Bank of India and the Securities and Exchange Board of India, to provide an extra layer of expertise.
The corporate team welcomed three partners from various leading law firms: head of media, education and gaming Aarushi Jain joined from Nishith Desai Associates, Rishiraj Bhatt joined from Kanga & Co and Siddharth Hariani joined from Phoenix Legal. Disputes veteran Gauri Rasgotra left last year to establish her own boutique firm.
Work highlights
Acted for the committee of creditors of DHFL on DHFL’s corporate insolvency resolution process.
Represented a consortium of 12 public sector banks, with IDBI Bank as the lead bank in enforcement as well as defending a challenge to an arbitral award in relation to a breach of contract against Haryana State Industrial and Infrastructure Development Corporation.
Key clients
Essar Bulk Terminal, Navi Technology, Saura International Private, Zomato.
The market holds Link Legal in high regard for its strengths in aviation, construction, energy and infrastructure work. The firm is a first port of call for infrastructure players due to its vast experience in large-scale, long-term infrastructure projects and regulator relationships, and the ability to go beyond transaction basics into extra layers of service like financing insurance. The corporate team welcomed four new partners in the last 12 months, such as Jinni Sinha from IndusLaw and Sayantani Dutta from Wadia Ghandy & Co. Infrastructure specialist Rajesh Sehgal joined from Trina Solar. Atul Sharma and Nusrat Hassan are key partners for energy and infrastructure, and corporate and M&A, respectively. Managing partner Anand Srivastava is also a projects and finance contact. The firm recently combined with Dentons to become part of the global law firm’s sprawling international network.
Client feedback
“Timely and excellent delivery in all matters.” – Aviation
“The firm plans the activities well and delivers the services within the agreed timelines.” – Capital markets
“Very good knowledge and experience of the subject. It provides research-based representations and approach towards a matter.” – Energy
“They handled things very well, and have a knowledgeable partner and team. Approachable 24/7.” – Private equity
Namita Das
“Knowledgeable and approachable. Effective management.”
Milind Jha
“Quick turnaround for queries raised, timelines have been always met, and he is solution-oriented.”
Aditya Singh
“Rich knowledge, innovative, research based approach, and provides right and practical advice.”
Anand Srivastava
“Good approach and a problem-solver.”
Work highlights
Represented SpiceJet and its promoter in a challenge to an arbitral award passed by the Arbitral Tribunal.
Full-service firm DSK Legal has enjoyed the fruits of its expansion last summer, climbing up in the rankings across a number of areas such as capital markets, IP and pharmaceuticals and life sciences. After the seismic shift of adding more than 60 new lawyers, most from Luthra and Luthra Law Offices, the firm continued to build out its teams. It welcomed corporate and finance specialists Srinivas BR, Siddharth Suresh and Karan Ajitsaria from Dua Associates. M&A expert Kunal Mehra, and disputes partners Prashant Mishra, Prashant Pakhiddey and Saleem Hasan Ansari, followed former colleagues over from Luthra and Luthra Law Offices, while R&I consultant Sanjeev Pandey joined from the State Bank of India.
Under the guidance of top-flight real estate partner Sajit Suvarna, the firm’s real estate offering is regarded as one of the strongest in Mumbai. With an added capacity on the corporate side from recent additions, the firm posted a strong showing by closing over 50 sizeable M&A deals. The firm’s specialised media and entertainment department is well received by the market. It boasts many A-list Bollywood film stars as clients, along with local and international media houses and platforms like Disney and Star India. Key contact and managing partner Anand Desai is a venerable figure in the legal industry for banking and finance, corporate and M&A, disputes, and media and entertainment. Deputy managing partner Suvarna is a banking and real estate specialist.
Client feedback
“Prompt responses.” – Banking and finance
“Professional service, timely deliverables and focused approach.” – Corporate and M&A
“Lawyers are process driven, courteous and knowledgeable.” – Corporate and M&A
“The team had a pragmatic approach, short response times and was in general very supportive.” – Corporate and M&A
“They took a resolution approach.” – Dispute resolution
“Lawyers have a thorough understanding of the matter, diligence and responsiveness. They take off the client the worries of what needs to be done in the matter.” – Dispute resolution
“They provide speedy, to-the-point advice and a willingness to clarify all issues asked. They are very knowledgeable on Indian labour laws and give practical advice that works.” – Labour and employment
“They are aware of recent changes and help close issues without unnecessary technicalities” – Media and entertainment
Rishi Anand
“He is approachable.”
Roochi Loona
“Prompt responses and good working knowledge of the law.”
Gaurav Mistry
“Knowledgeable, friendly and professional.”
Vikrant Singh Negi
“Always prepared and proactive with solutions.”
Dinesh Pardasani
“He is very diligent, accessible and hard-working for the task assigned.”
Ajay Shaw
“He takes a focused and balanced approach.”
Suyash Srivatava
“Sharpness in thought, and clarity and speed in advice.
Represented Essilor in all aspects of the litigation commenced by one of the client’s wholesale vendors alleging that the client and its employees were over invoicing him by using forged documents, delivery receipts, ledger entries, etc.
Key clients
Bharti International, Hitachi Rail STS India, Larsen & Toubro, Sterlite Technologies.
Full-service firm Dua Associates is best known for its litigation and arbitration strength. The dispute resolution team has over 150 lawyers spread out across its offices in New Delhi, Gurgaon, Bangalore, Chandigarh, Chennai, Hyderabad, Mumbai and Pune. Notably, the firm has a robust Supreme Court presence through its sister firm Dua Associates AoR, which is a firm registered with the top court and stacked with advocates-on-record that work in tandem with the Dua Associates partners. Clients of the firm include high-net-worth individuals, and domestic and international corporations engaged in sectors such as chemicals, agricultural products, automobiles, aviation, transportation, telecom, infrastructure, hospitality, technology, digital media, fashion, and luxury goods, among others. Dispute resolution specialist and senior partner Shiraz Patodia is a main contact, as is firm chairman and corporate expert Ranji Dua. Antitrust and corporate specialist Rahul Narayanan departed for a role at Amazon India.
Work highlights
Represented the Dow Chemical Company in a complex litigation before the Supreme Court emanating from a toxic industrial disaster that occurred in Bhopal in 1984 wherein the Union of India and certain NGOs have sought enhanced compensation by filing of a curative petition. The Apex Court’s decision in the matter is a landmark one as it covered within its ambit all aspects that relate to the scope and maintainability of a ‘curative petition’ in the current legal regime in India.
Acted for Rodic Consultants before multiple fora. In a recent writ petition, Dua Associates was successful in obtaining a stay from the Delhi High Court on the operation of the impugned blacklisting order, which banned business dealings with Rodic for a period of five years.
As one of the top law firms in India, Economic Laws Practice is highly ranked across the banking and finance, competition/antitrust, dispute resolution, regulatory and tax practices. It has seven offices across India, in Mumbai, New Delhi, Pune, Chennai, Bangalore, Ahmedabad and Gift City. The firm’s renowned tax group is acknowledged by peers as a market leader. It is led by tax specialists Rohit Jain, Nishant Shah, Harsh Shah, Kumar Visalaksh and Gopal Mundhra. Firm managing partner and main contact Suhail Nathani is often a lead partner in competition cases, as well as on private equity and M&A deals. The dispute resolution group welcomed associate partner Abhay Chattopadhyay from Amit Sibal’s Law Chambers.
Client feedback
“Their work and conduct in all matters entrusted to them were to the best of our satisfaction.” – Corporate and M&A
“Very strong subject-matter expertise, timely delivery and cost-efficient.” – Dispute resolution
“The lawyers give extremely prompt and practical advice and they understand the importance of long-term relationships as compared to other law firms that focus on short-term gains by always thinking about their legal fees. It has a very diverse and experienced group of partners that cover every department and sector which enables them to act as a one-stop shop for everything legal.” – Dispute resolution
“Local knowledge, good advice.” – Dispute resolution
“Very responsive, wide range of expertise and great team.” – Labour and employment
“The team is very professional in delivering assignments in a timely fashion and can be relied on for their astute and strategic advice. The team has the relevant talent and capability in each practice area which is mentored by a seasoned senior partner and the firm has been able to position itself very well for catering to the specific needs of each sector. The practice areas of tax, commercial advice and litigation has been well tested over time and gives them an edge over similarly placed competitors in delivering value to the corporate client.” – Oil and gas
“The firm and the team that works with us knows what we focus upon on deals and works with us effectively to ensure the documents close quickly and also ensure that we are adequately protected in the transaction.” – Private equity
“Sincere, diligent, particular, quick to revert, and they understand my needs and requirements.” – Real estate
“Easily accessible and they take a pragmatic approach.” – Regulatory
“Effective coordination between the parties and timely follow-up on outstanding action items to reach a timely resolution.” – Regulatory
“It has a team of great lawyers. We appreciate their understanding of laws, preparedness with cases, representation skills, approach and availability.” – Tax
“The lawyers are prompt, detailed, give practical insights and have sharp technical acumen.” – Tax
“They are highly skilled, technical, commercially astute and understand the business in which we operate. Their work product is excellent and timely.” – Tax
Vinay Bhutani
“He is very responsive, quick to find solutions and maintains very good relationships with the other side. That is very important for us in private equity to not ruffle feathers with the promoter during negotiations.”
Heena Chheda
“Extremely wise, particular, diligent, trustworthy and an overall excellent lawyer.”
Alok Jain
“Availability, local knowledge and advice.”
Rohit Jain
“I have known Rohit for more than 15 years. He is an excellent trusted adviser, pragmatic, very technical and understands our business well.”
Aakanksha Joshi
“Responsible behaviour and timely completion of tasks entrusted to her.”
Ritesh Kanodia
“Humble, prompt, technical and has solid business acumen.”
Yashojit Mitra
“Accessible, takes a pragmatic approach, and has good knowledge of our business needs.”
“Effective communicator that builds relationships between the parties.”
Jitendra Motwani
“Understands the client’s situation and aims to give practical solutions rather just legal remedies by the book. He is very knowledgeable in every field and treats every matter with equal importance.”
“He is a subject-matter expert. He is confident and provides timely delivery.”
Suhail Nathani
“Positive, frequent communications, and solution-oriented.”
Abhishek Sanyal
“He is very responsive, provides excellent advice and solutions, and is backed by a great team.”
Naresh Thacker
“We appreciate his experience, knowledge, representation skill, approach, understanding and availability.”
“Naresh is well placed for handling big stakes corporate litigations and leading such litigations from legal and strategic fronts. He is solution-centric and puts a lot of emphasis on offering innovative solutions and strategic advice on litigation matters.”
Work highlights
Represented Paradip International Cargo Terminal before the High Court against the denial of benefit under the Service Exports from India scheme notified under the Foreign Trade Policy.
Key clients
Adani Enterprises, GOCL Corporation, Welspun Enterprises.
Eshwars is a boutique firm based in Chennai that focuses on IP, corporate and commercial advisory, and dispute resolution. On the IP side, its specialties include trademark, copyright, industrial design, patent, semiconductor layout, domain name protection, and distribution and franchising. It has also assisted domestic businesses in their outbound ventures into the US, Middle East and China, for example. It has offices in Bangalore, Hosur and Kerala. Managing partner Eshwar Sabapathy and partner NV Saisunder lead the firm.
Client feedback
“Very prompt in their responses, which are always delivered with clarity and precision.” – Intellectual property
Eshwar Sabapathy
“He pays strong attention to detail, is a good listener and provides the correct solution to the problem at hand.”
Work highlights
Acted for Pettigo Comércio Internacional in an emergency arbitration under Singapore International Arbitration Centre rules in relation to an investment into an Indian company.
Advised Sheenlac Paints on litigation management related to debt recovery in cheque bounce cases and pre-suit mediation suits filed in the relevant jurisdictional courts.
Founded in 2015 with offices in Delhi and Mumbai, Gravitas Legal offers bespoke, quality representation on projects, investments, M&A, disputes, and real estate matters. Last year, the firm expanded its reach into the insolvency, securities, and white-collar crime spaces. The firm moves up a notch in the dispute resolution ranking this year. It has niche experience advising private equity funds and working on pure fund structuring mandates. In addition to regular project finance and corporate finance documentation, the firm excels in novel and atypical transactions around the 5/25 flexible structuring scheme and special drawing rights. Gravitas is empanelled with several banks and financial institutions including PTC India Financial Services, HDFC Bank, State Bank of India and L&T Infra Finance. Banking and insolvency partner Tanuj Sud is a key contact at the firm. Other notable personnel include corporate partner Varij Sharma and disputes specialists Rajeev Aggarwal and Rahul Gaikwad. Aggarwal joined the firm in April from RA Law & Co.
Work highlights
Represented the promoters of Asian Ispat FZC, UAE and Asian Colour Coated Group in India in a writ petition.
Acted for a chartered accountant individual to challenge his suspension order passed by the Insolvency and Bankruptcy Board of India after a chargesheet was filed against him.
Founded by two qualified Advocates on Record (AoR), GSL Chambers is a young disputes boutique that is registered as an AoR firm. The firm is centred in Delhi, but it also has secondary offices in Indore and Bengaluru. The firm has sectoral experience in the banking and financial services, real estate and infrastructure. The partners are also well-versed in insolvency-related matters. The key contacts are founders Arjun Garg and Abhinav Shrivastava.
Work highlights
Representing an individual who challenged the winding-up of debt schemes by Franklin Templeton Mutual Fund.
Acting for petitioner KC Cinema regarding the powers of the Licensing Authority to ensure uniformity in the price of tickets and other regulations.
Key clients
Johnson & Johnson, Kimberly Clark, Makemytrip.com, McLeod Russel India, Prudent Broking Services, Tata Housing Finance Company.
Hammurabi & Solomon Partners is a respected, established firm that offers a range of corporate law advice from M&As and foreign investments to restructuring and insolvency matters. The firm remains steady in the M&A and disputes tables this year and debuts in the real estate, banking and finance and construction tables. Its unique public policy and regulatory practice is well-regarded by clients for its government relations initiatives. The firm routinely undertakes research projects in the law, regulation and public policy space, leading to the preparation of white papers, draft legislations, theme discussions, support on emerging laws and regulations, and commissions of enquiry. The firm’s government relations practitioners have an in-depth understanding of the statutory and regulatory framework, and they maintain strong ties with executive agencies. Managing partner and key contact Manoj Kumar is a commercial and regulatory specialist. The firm welcomed corporate and restructuring specialist Jyoti Kumar Chaudhary from S&A Law Offices, as well as partner designate Rohit Jolly, whose practice spans insolvency, finance, data privacy and labour laws. The firm is in the process of launching new offices in Kolkata, Hyderabad and Chennai.
Work highlights
Defended Ramky Enviro Engineers against a false PIL regarding the operation of a Dehradun WMPL Plant.
Assisted client in resolving a dispute involving delays and payment issues in relation to a land handover and project management.
Boutique law firm Hitesh Sanghvi Law Offices was founded in 2010 and is based in Mumbai. It is active in the banking and finance, general corporate and construction areas, but stands out for its dispute resolution practice. Its major clients include businesses from a range of sectors, including industrials, electrical equipment, healthcare, medical equipment, financial services, and regulatory bodies. Key contact and eponymous partner Hitesh Sanghvi counts the Reserve Bank of India as a loyal client for regulatory issues and he has rendered honorary advisory services to the World Bank Group on domestic law.
Work highlights
Representing an ultra-high net worth individual and co-promoter in case alleging the siphoning-off of $86 million from a publicly traded company.
HSA Advocates has a commanding reputation in the market as a preferred firm for energy, construction and infrastructure work. Sophisticated clients know this is the firm for complex, multi-party, long-term infrastructure projects, as it has decades of experience working with all stakeholders from the beginning to the end of a project life cycle. The firm provides a complete suite of solutions for development, financing, transactions, restructuring and dispute resolution support. The firm is routinely found advising on power, road, port, airport, oil, gas, clean energy and special economic zone projects. Founding partner and projects legend Hemant Sahai is a key contact. The firm welcomed corporate and funds specialist Satish Kumar Anand and real estate partner Himani Singh Sood from SNG & Partners. Banking partner Sharmil Bhushan left for Kochhar & Co.
Client feedback
“Regarding their expertise, I can confirm they have deep knowledge and expertise in the practice area where we asked for their legal assistance. On their responsiveness, as a company and as I personally value the timely communication, they provide quick turnaround times on projects, and proactive outreach to clients on our external service providers. I can confirm that they were super-responsive both for meetings and via emails with their esteemed knowledge and positive attitude. Speaking of their client-focused approach, I had the impression that they prioritise clients' needs and goals that's why they provide tailored legal solutions that meet clients' specific needs.” – Regulatory
Jivesh Chandrayan
“Here are some examples that we appreciate about him: his adaptability, communication skills and time management, which at the end let us receive the kind of legal service we want.”
Work highlights
Represented ONGC Nile Ganga on its international commercial arbitration in relation to the recovery of monies from a North African country that applies Islamic civil law principles.
Key clients
Asset Reconstruction Company India, Assystem, ICICI Bank, Latoya Mistral Ferns.
India Law Offices is a full-service law firm that was founded in 2003. Headquartered in New Delhi, the firm is present across Mumbai, Bengaluru, Chennai, Hyderabad, Kolkata, Goa, and Pune. It has deep experience in a variety of industry sectors, including aviation, automobile, healthcare, IT, real estate, food and beverage, banking, energy, infrastructure, insurance, media and telecommunications. Corporate specialist and managing partner Gautam Khurana is the main contact at the firm.
Client feedback
“Efficient and provide excellent service.” – Corporate and M&A
“Efficient and professional.” – Corporate and M&A
“They know their job very well.” – Dispute resolution
Abishek Han
“He is responsive and professional.”
Gautam Khurana
“Always gives prompt attention and advice.”
“He is an extremely knowledgeable person.”
Work highlights
Represented APAAR Infratech in High Court over a dispute by the NHPC barring the client with a speaking order.
Acting for a client on the cancellation of criminal proceedings that were issued by the special environmental court in Faridabad.
Engaged by an individual to stand before the securities appellate tribunal in Mumbai in relation to a share transfer litigation.
IndusLaw is a modern full-service firm that is rapidly coming up the ranks as a challenger to the established order of top legacy firms. This year, it moves up a notch in the real estate rankings and expanded by opening a new office in Gurugram. In total, the pan-India coverage includes offices in Bangalore, Chennai, Delhi, Hyderabad, Mumbai and the aforementioned Gurugram. The firm takes pride in its growing prominence among sophisticated clients for its private equity and TMT work. It specialises in working with investors across the full funding lifecycle and on a variety of funds including sector-specific ones such as technology, life sciences, e-commerce, retail and infrastructure. The capital markets team remains active, securing some of this year’s largest mandates for both issuers and bookrunners on more than 24 transactions. While maintaining a secure foothold at the forefront of ECM work, it is busy diversifying its suite of experience into newer products such as SPACs and business trusts, block deals and debt capital markets work.
There were several noteworthy inflows and outflows of talent this year. Banking partner Ashutosh Narang joined from Luthra and Luthra Law Offices last October. Corporate specialists Amrit Mehta and Shantanu Jindel joined from Majmudar & Partners and JSA, respectively, while partners Anubha Sital and Divya Varghese departed for in-house roles. On the disputes side, partners Maneesha Kongovi and Sourasubha Ghosh arrived from Argus Partners and Hariani & Co, respectively.
Client feedback
“The team are go-getters, always there to work on challenging assignments, and provide clarity on strategy in litigations. It helps us achieve the desired results” – Banking and finance
“Prompt client service, and accuracy in legal representation and advisory.” – Banking and finance
“Their legal expertise is top-notch and add to that the constant availability of folks to resolve any sudden issues that might arise makes them a perfect partner for any startup.” – Corporate and M&A
“The team is excellent. Litigation is the core area and very efficient. We are satisfied with their performance. Cost-wise, they also are very reasonable.” – Dispute resolution
“Solution-oriented, understands the clients’ needs very quickly, and provides well-thought resolutions.” – Dispute resolution
“Proactive, knowledgeable, good negotiators, and has good command on the subject.” – Investment funds
“We recommend them for their ability to understand business and define the solution from multiple angles; the availability of the team; their turnaround time; the involvement of senior partners in brainstorming and solutioning; and the ease of working with other ecosystem partners.” – Media and entertainment
“They are highly responsive and in touch with the local market. It is very hard to stay on top of the latest trends in legal terms from afar. They have an eye toward ensuring that appropriate and proper legal protections are in place, with a commercial sensibility to finding compromise.” – Private equity
“Great advice, super-responsive, creative problem-solvers, and a collaborative team.” – Private equity
“Interesting, practical and give timely insights.” – Private equity
“Proactive and knowledgeable teams across both practices.” – Private equity
“Very client-centric, highly available, responsive and caring. They have a long-term focus, not transaction focus.” – Private equity
“Sensitive to client needs, approachable and provide holistic advice.” – Private equity
“The team understands client objectives and priorities, and as a result gives us the specific advice we need.” – Private equity
“We appreciate their attention to detail, sector-specific knowledge in the areas we invest, deep knowledge about our positions in investments, and very personable and committed team.” – Private equity
Ranjana Adhikari
“She is very positive and has good domain knowledge. She shows a good balance of risk management and business solutioning, and has a great ability to bring in specialists as and when needed.”
Unnati Agrawal
“Goes out of her way to devise a solution. She has very good domain knowledge and communication skills.”
Aakash Dasgupta
“Excellent communication and expertise.”
Mayukh Dutta
“Very collaborative, founder-first attitude. Also he is approachable, personable, down-to-earth and solution-oriented.”
Sushmita Gandhi
“She is always there for any assignment and helps us in complex assignments. She has a positive approach to any issue at hand and has clarity of thought for devising suitable strategies to deal with such issues. The insights and advice provided by Ms. Sushmita has been quite helpful in overcoming the challenges faced in transactions and litigations.”
“Friendly, prompt, intelligent and articulate.”
“Very effective and quick.”
Anindya Ghosh
“Anindya has great legal expertise and is always available to guide us on any issues where his expertise is needed.”
“His industry knowledge is excellent. Anindya is very solution-oriented while being able to keep our interests in mind as well as the general regulatory landscape. He is very easy to interact with and personable, and he is always available when we need him.”
“Very focused on solutions to move things along. Diligent, knowledgeable, affable and pleasant to work with. He takes time out to explain things and always kept our best interests in mind. He is a fair negotiator.”
Amit Jajoo
“Extremely meticulous and solution-oriented.”
Pallavi Kanakagiri
“She is very knowledgeable about legal implications and is very good at applying this to our specific concerns.”
Winnie Shekhar
“Always available. Incredibly responsive. Works to advocate on behalf of clients, while finding a middle-ground and reasonable approach to meeting points of dispute. Creative in thinking.”
“Combines a sharp eye on legal issues with a commercial sensibility to getting a deal across the line. Provides useful and practical advice. Not overly aggressive but a good advocate for our positions.”
“Knowledgeable and responsive.”
Work highlights
Represented the chairman of Finolex Cables in an oppression and mismanagement petition filed against its holding company, Orbit Electricals and others.
Delhi-based Karanjawala & Co is a leading exclusive boutique litigation firm based in New Delhi, where it has three offices. It was founded in 1983 and now has about 100 lawyers. It has a stellar reputation in the market as a go-to for precedent-setting, landmark matters. The firm features in more than 625 reported judgments of the Supreme Court and has filed and dealt with more than 25,000 matters to date. Though the firm began its practice with a predominantly Supreme Court and High Court emphasis, it has now expanded to have a presence in all the subordinate courts and tribunals in the National Capital Region and routinely handles litigations on a pan-India basis. The leadership team comprises 10 partners who are all respected and seasoned litigators. Managing partner Raian Karanjawala serves as the head of the 10-partner-strong disputes department. Other key figures are founding partner Manik Karanjawala and senior partners Nandini Gore, Ruby Singh Ahuja, and Sandeep Kapur. In the past year, the firm has acted on multiple high-level cases for ArcelorMittal, Tata Motors, DLF Home Developers, Adani Agri Logistics and Zee Media Corporation, among others.
Client feedback
“My experience with the team was fantastic and they delivered on every word they promised. The key strength for me was the fact there were experienced lawyers at all levels, whether you were dealing with associates or partners. They really know their stuff and how the process actually works. They are also really responsive.” – Dispute resolution
Ruby Ahuja
“We recommend Ruby for her expertise in law, experience, preparedness with the matter, approach, and her availability.”
Work highlights
Represented Air India in a civil appeal before the Supreme Court. It successfully repelled the challenge by BKP Enterprises.
Acted for Star India against Asianet Digital Networks in a competition matter.
Dispute resolution boutique Keystone Partners was formed by a group of first-generation lawyers who specialise in commercial litigation, international arbitration, construction disputes and contentious regulatory matters. Each partner has a particular focus, allowing the team to cover a varied suite of disputes practice areas, and one partner is an Advocate on Record of the Supreme Court. The firm also routinely handles contentious energy, technology and trade sector matters. In the past year, its instructions grew in the technology, media and telecommunications law area and it boasts multiple panel appointments representing the state of Karnataka in the Central Sales Tax Appellate Authority at New Delhi, the Central Electricity Regulatory Commission, the Delhi Electricity Regulatory Commission and the Competition Commission of India. Keystone has offices in Bengaluru, Mumbai and New Delhi. Senior partner Pradeep Nayak leads a seven-partner strong disputes group that includes notable names such as Sita Kapadia, Pritha Srikumar Iyer, Arun Sri Kumar, Sulabh Rewari, Anupama Hebbar and Vikas Mahendra. In February, the team welcomed partner Aditya Chatterjee from an independent counsel practice.
Work highlights
Represented Uber India Systems against a writ petition filed by a trade union of taxi drivers, seeking recognition of drivers as gig workers to benefit from various social security laws.
Acted for the All India Gaming Federation, India’s largest federation of real money online gaming companies, before the Supreme Court in appellate proceedings regarding the constitutional validity of a statute outlawing operations of the association’s members in Karnataka.
Kochhar & Co has a pan-India presence and excels in a multitude of practice areas, from dispute resolution to real estate. Its technology and telecommunications practice is lauded as one of the best in the country. Stephen Matthias is a leading technology lawyer who heads the firm’s first-rate team. Managing partner and litigation specialist, Rohit Kochhar is the main contact.
Work highlights
Represented Wells Fargo in a high-profile dispute with the Indian court ruling that the lockdown was no excuse for a company to avoid contractual obligations to make payments.
Represented an Italian multinational pharmaceutical company, Actial Farmaceutica, and its Indian subsidiary in a complex international dispute involving legal rights to a probiotic bacterial product.
Acted for Fujifilm India in its dispute with the Karnataka Institute of Medical Sciences, for the supply of medical imaging technology products. The case raises important questions about tender regulations and the transparency of tender bidding processes.
Key clients
Cisco, Honda, Indian Oil, Meidensha Corporation, Mercedes Benz, Wells Fargo
Mid-sized firm Krishnamurthy & Co offers full corporate and commercial transactional services. It is best known for its intellectual property practice, but has corporate and M&A and private equity practices that are growing in prominence. This year the firm advances up the infrastructure and dispute resolution ranking tables. The firm boasts a roster of elite clients. Senior partner Nikhil Krishnamurthy chairs the intellectual property department and he is a key contact. Other leaders at the firm include founding partner Naina Krishnamurthy, managing partner Shwetambari Rao, senior partners Ayush Agarwala and Rashmi Deshpande, and partner Rukmini Roychowdhury. Dispute specialist Aditi Mittal departed for Kochhar & Co in December.
Client feedback
“We value the team’s knowledge of the subject matter, speed of response, turnaround times and attention to detail.” – Corporate and M&A
Shwetambari Rao
“Extremely quick responses, attention to detail, fast turnaround of docs, quality of response, thorough, solution-oriented and innovative.”
Acted for the liquidator of Biotor Industries in a case involving the issue of whether a statutory authority can be treated as a secured creditor under the provisions of the Insolvency and Bankruptcy Code during the liquidation.
Assisted the bondholders of Laxmi Vilas Bank as petitioner against the Reserve Bank of India’s order to write down the bonds.
Boutique firm Legacy Law Offices is a top choice for disputes in connection with infrastructure projects. Its leadership team of four are experienced counsels in construction arbitrations that have worked on numerous landmark mandates in the past. The firm has an enviable track record of arbitration success, winning 98% of cases on behalf of claimant clients. The firm moves up a notch in the infrastructure and construction tables this year. Managing partner Gagan Anand and senior partner Sadiqua Fatma are the key contacts. Other names to note are co-managing partner Shalini Munjal and partner Madhav Sharma. The firm welcomed construction transaction-focused partners Amarendra Gogoi and Rahul Sharma, while disputes experts Ramanjit Singh, Paromita Majumdar and Ashwini Kumar Singh joined last year.
Client feedback
“During our dealings with Legacy, we have found their lawyers to possess an extensive knowledge and experience of working on national and international projects, client handling and other aspects of their practice. Their manner of rendering legal services by adopting a client-specific method is unique and palpable. From project management to dispute resolution, we have found the lawyers to be dexterous, skilled and professional. Given our ongoing project arrangement, a special mention to their distinguished contract management services is essential, as the team is extremely happy with the way in which the lawyers are handling the assignment.” – Construction
“The lawyers of the firm are highly professional and extraordinary, in terms of providing legal services in a variety of sectors. Presently, we are availing almost all services from this firm, owing to their distinctive attitude and time-efficient work. The management has always appreciated the manner in which their lawyers deal with the clients and have been in awe of the quality of the deliverables for each of our projects. There have even been times when we have approached Mr. Gagan to work on some project, where another lawyer was previously engaged, merely due to the excellence of his team and his knowledge.” – Construction
“The team is very accessible, diligent and dependable when it comes to the organisation’s legal needs. We have used multiple advocates in the past but this relationship has proven to exceed my expectations.” – Dispute resolution
“In my interactions with the lawyers of the firm, I have found them to be highly experienced and knowledgeable. They make the best possible endeavours to attain favourable orders for their clients, which is an appreciated quality. Another positive attribute of the firm is the way in which they keep the client updated about the different cases, even before being prompted.” – Dispute resolution
Gagan Anand
“Gagan Anand is an ardent legal professional with years of experience, which is well exhibited in his way of providing legal opinions and directing his junior lawyers. He is always approachable and provides ample time for every client in relation to their legal queries. I have found Mr. Anand to be an exceptionally well-established and knowledgeable legal professional.”
“We found Mr. Gagan Anand to be an extremely ardent lawyer with a profound knowledge of laws. His contributions and legal insight on the various projects of the company has been widely accepted by us as being practical and unique. His enriching experience is reflected through his work and the technique with which the clients are handled at the firm.”
“Mr. Anand is a highly reputed legal profession with a vast experience and expertise in the sector. We appreciate his responsiveness to the client queries and the manner of his management of the deliverables. The distinctiveness in his guidance to the team is extremely apparent in all the deliverables. It was an absolute pleasure to understand his unique perspective towards legal issues and professional angle of dealing with posed challenges. His expertise and excellence gathered over years of practice is evidently displayed through his result-driven approach and professional proficiency.”
“We have found Mr. Gagan Anand to have the ability and professionalism to handle different types of legal issues. He is a great lawyer and portrays professionalism at its best.”
Parveen Moudgil
“His vast experience handling various law enforcement agencies helped to provide quick, workable solutions to legal issues at hand. His depth of knowledge for civil and criminal laws, along with arbitration law, is immaculate.”
Work highlights
Successfully represented Ceigall India and Patel Engineering before the Delhi High Court in a matter concerning the construction of the Ramban-Banihal twin tube tunnel.
Acted for the claimant EPC contractor, GKC Projects, in its claim against National Highways Authority of India concerning the upgrading of the two-lane Tanda Raebareli road section.
Key clients
Intercontinental Consultants & Technocrats, Mumbai Nasik Expressway, Rohtak Panipat Tollways, Usha Breco.
Legal Scriptures Advocates was founded in 2017, with dispute resolution as a core pillar of its offering. Its coverage includes commercial litigation, arbitration, white-collar crimes and criminal litigation, among others. With regards to civil, commercial and corporate litigation, the firm specialises in writ petitions, money recovery suits, consumer complaints, real estate litigation, company and insolvency petitions, and matters related to Ministry of Micro Small and Medium Enterprises (MSME) and negotiable instruments cases. The team is led by partners Abhijit Mittal and Anukalp Jain.
Key clients
American Express, Procter & Gamble, Western Union, Itron, Orion Group, Samsung Data Systems India, Galaxy Group, Punjab National Bank and LG Chem Life Sciences.
Client feedback
“We appreciate their attitude towards resolving the issues and coming up with solutions.” – Corporate and M&A
“The team is very responsive and has emerged as key advisers to the firm on several contentious matters. Their advice is considered, coherent and balanced, based on their substantial years of experience. Abhijit Mittal has extensive experience in formulating defence strategies and our international clients have strongly come to rely upon his advice. They are extremely professional and working with them is always seamless.” – Dispute resolution
“They provide advice in a timely manner. Their advice takes into consideration the needs of the business.” – Labour and employment
“Timely delivery, analytical skills, strategic calls, drafting, and court craftmanship.” – Oil and gas
Abhijit Mittal
“He has a very balanced approach, and his opinion is beneficial not only from a legal point of view but also from a commercial aspect. He is very well-read and is updated with all legal aspects regularly.”
“Abhijit is a very hard-working and focused lawyer. He takes time to explain his positions and is a very good listener.”
“Abhijit is very responsive. His critical thinking and problem-solving skills have come to our aid many times in the past. His well-balanced and solution-oriented advice are helpful. Clients appreciate the depth of his knowledge based on his experience. He is an excellent arguing counsel and clients are reassured by his presence in a court setting as well. He has emerged as a trusted adviser for our clients.”
“He has good drafting skills and always delivers in good time. He is a good team player, analytical, has a strategic mind, and is able to provide pinpointed briefings to senior lawyers.”
Work highlights
Advised the Union of India in a matter that involved employment-related issues to government employees of various forces. The Delhi High Court held in this landmark judgment that all the personnel of the Central Armed Police Forces are entitled to get benefits of the old pension scheme.
Represented Dash Exports and Asteroid Shelter Homes in a matter against the government. This case is significant from the standpoint that it will decide the interplay between the provisions of Insolvency and Bankruptcy Code and Prevention of Money Laundering Act.
Luthra and Luthra Law Offices is a well-rounded full-service firm that has been a market leader in multiple practice areas over the past two decades. Sadly, founding partner and legendary rainmaker Rajiv Luthra passed away earlier this year. The firm has been replenishing its ranks by welcoming no less than 10 partners into the fold, ranging from corporate specialist Abhilekh Verma from Kochhar & Co to disputes expert Shreya Sircar from Bharucha & Partners. The firm is proud of its market-leading clean energy practice, prioritising niche deals that have a positive environmental or social impact.
Client feedback
“Partner attention and input have been key to the engagement. Commitment to acting as true advisers to the transaction and prioritising client interest even when it meant calling off the transaction and limiting the scope of the engagement.” – Corporate and M&A
“Very professional and timely updates.” – Dispute resolution
“Reactive and proactive.” – Intellectual property
Shireen Dhar
“Very responsive with practical solutions.”
Pranshu Paul
“Professional and helpful.”
Navin Syiem
“Navin has always been astute and accurate in his understanding of our issue, succinct in his advice, always mindful of time, prompt in his feedback and highly adaptive to the client's personality.”
Work highlights
Defended Kroll USA and Kroll India against a tortious $5 billion claim filed before a Surat court by an individual.
Majmudar & Partners is a medium-sized, high-quality corporate and financial law firm that excels in corporate and M&A, private equity, and labour and employment areas. On the deal side, the firm is not a volume player as its clients engage the team for sophisticated and complex transactions. Peers acknowledge its labour and employment practice, which is led by Neerav Merchant and Raja Sujith Niruthambath. The firm and its managing partner Akil Hirani are well regarded in the Mumbai market. In the past 12 months, the firm has seen good growth in the non-banking financial corporation sector on regulatory advice, fintech, finance deals and M&A transactions. In addition, banking litigation is growing.
Client feedback
“Professional.” – Corporate and M&A
“Very responsive, timely and detail-oriented. They can bring in SMEs quickly for specific areas when executing a project.” – Corporate and M&A
“They were knowledgeable with India corporate law and advice on corporate structures for M&A activities.” – Corporate and M&A
“They are very efficient and always provide prompt feedback.” – Labour and employment
“Very responsive, very thorough.” – Technology and telecommunications
Rukshad Davar
“Responsive and knowledgeable.”
Akil Hirani
“Very factual, to the point. He’s practical and provides trusted advice.”
“Very responsive, thoughtful, delegates appropriately, and does thorough work.”
Sinjini Majumdar
“He provides very thorough and timely feedback.”
Neerav Merchant
“He is professional.”
Work highlights
Representing First Climate Markets on matters relating to breach of commercial contract.
Acting for Arneg India in relation to the proceedings filed by a solo complainant before the Upper Collector, Thane.
Representing SABIC UK Petrochemicals in a winding-up petition filed by SABIC UK Petrochemicals against Punj Lloyd before the Delhi High Court.
Key clients
Access Bank, CMS UAE, Gallup India, Powerband Industries.
Dispute resolution firm Mansukhlal Hiralal & Co was established over 110 years ago and has offices in Mumbai and Delhi. In addition to a full array of transactional practices, the firm is known for handling the complete spectrum of contentious work from civil and criminal litigations up to the Supreme Court to international arbitrations. The Securities and Exchange Board of India is a key client, trusting the firm for many of its litigations. Managing partner Rajendra Shah, commercial disputes partner Bhushan Shah and real estate disputes specialist Purvi Asher are the firm’s key contacts. The firm moves up a notch in the real estate rankings this year and it was empanelled with the Oil and Natural Gas Corporation for dispute resolution advice.
Represented Petronas Lubricants in defending against the corporate insolvency resolution process initiated against it by Piaggio Vehicles.
Key clients
IGL Finance, Jalaram Industrial Estates, NSEL Investors Action Group.
Nishith Desai Associates prides itself as being a domestic firm with an international presence. It has market-leading labour and employment, media and entertainment, private equity, regulatory, tax, and technology and telecommunications practices. This year it moves up into the top tier for its pharmaceuticals and life sciences prowess. In the frontier space of technology, the firm has been a pioneer and cultivated a leading presence in privacy and data protection, crypto-assets and blockchain, payments, media, education, life sciences, and gaming and gambling. Vikram Shroff heads the labour and employment practice, while Vaibhav Parikh and Nishchal Joshipura are key partners for technology and private equity, respectively. The team’s corporate team was bolstered by the arrivals of team leads Diksha Maheshwari and Ayushi Pandey, who joined from Trilegal and JSA, respectively.
Client feedback
“The dispute involved cryptocurrency and an M&A transaction, and they brought their expertise in those areas, as well as their excellent experience in international arbitration, to bear very well on behalf of the client. They were detail-oriented while also focusing on the broader strategic aspects of the case. They understood the client's business objectives and focused on achieving those objectives.” – Practice area
“Attention to detail and client-centric.” – Dispute resolution
“Nishith Desai provides practical advice and is very responsive.” – Infrastructure
“Strong subject knowledge, provides market updates and lawyers have polite behaviour.” – Investment funds
“Positive and helpful attitude, strong domain experience, wide business experience, and good at hand- holding.” – Private equity
“We have found NDA to have a very practical and solution-oriented approach towards any legal issue. This has enabled us to take informed decisions on matters falling under grey areas of law.” – Regulatory
Milind Antani
“In-depth knowledge of the pharma industry both in theory as well as in the practical application of law. He is very approachable.”
Vyapak Desai
“Very smart with excellent strategic sense and insight.”
Prakhar Dua
“Prakhar is smart, practical and available.”
Nandini Pathak
“We appreciate her subject knowledge, communication and team handling.”
“She has vast knowledge and experience in the sector. We appreciate her willingness to provide suggestions and recommendations, and be a support.”
Ratnadeep Roychowdhury
“Puts clients first. Takes an independent fresh view of the situation. Has conviction.”
Work highlights
Represented Allscripts India in relation to criminal matters.
Advised WazirX in a show cause notice issued by the Enforcement Directorate before the Delhi High Court.
Emerging disputes-focused firm Numen Law Offices continues to feature in our dispute resolution and restructuring tables this year on account of its portfolio of interesting work for numerous sophisticated clients. In fact, this year it moves up a tier in the dispute resolution table. The firm is currently handling more than 45 disputes of renowned real estate developers such as the Lotus Group and Ansal API. Four partners steer the firm: Arush Khanna, George Thomas, Lakshmi Raman and Chaitanyaa Bhandarkar.
Work highlights
Represented Mash Spirits in a dispute arising out of the respondents’ arbitrary act of excluding the name of the client from the list of approved bidders.
Advised Ansal Properties and Infrastructure on the revocation of its registration of three real estate projects by the Real Estate Regulatory Authority in Uttar Pradesh.
P&A Law Offices is a legacy corporate, commercial, financial and litigation law firm with an admirable list of market firsts. Founded in 1996, the firm has a stellar reputation among top Indian conglomerates, Fortune 500 companies, household-name multinationals, and government and multilateral organisations. This year, the firm scales up in the competition table for its market-leading work. The team is helmed by eight partners who advise on all types of transactions and disputes across the entire spectrum of industry sectors. Untethered to a particular niche, the lawyers are focused on assisting their renowned clients in all types of high-level, complex, and high-stakes matters. Its competition practice is well regarded in the market with the firm’s practitioners helping draft the current competition rules. An interesting statistic pegs its deals as having a combined value of more than $75 billion. Managing partner Anand Pathak has been the chairman of the task force on competition law of the Federation of Indian Chambers of Commerce and Industry, was a member of India’s government-appointed committee on national competition policy and investment, and he is currently the vice chair of the IPBA on Indian competition law. Other key partners include antitrust experts Shashank Gautam and Sreemoyee Deb, and dispute resolution experts Amit Mishra, Gaurav Mahajan, Akshat Hansaria and Vijay Purohit.
Work highlights
Represented the Republic of India in an investment dispute initiated by the Ras-Al-Khaimah Investment Authority.
Represented Daiichi Sankyo Company in an ICC arbitration matter where the senior advocate briefed by the firm was the first time an Indian lawyer was given the right of audience before Singapore’s High Court and its Court of Appeal. The arbitral tribunal successfully proved the allegations of fraud by Ranbaxy promoters. This award was upheld by the Supreme Court of India, as well as Singapore’s High Court.
Acted for Amazon against Future Group and its promoters in a Singapore International Arbitration Centre (SIAC) arbitration matter, where it successfully obtained a favourable landmark judgment by the Supreme Court of India that held that an “award” delivered by an emergency arbitrator under the SIAC Arbitration Rules is equivalent to an Indian order and is enforceable as such under Indian law.
Pioneer Legal was established in 2019 by Satish Kishanchandani, Narendra Dingankar and Pritha Jha. Now, the numbers stand at six partners and more than 35 lawyers, with the firm rapidly gaining recognition for its high-quality corporate and private equity work. The firm moves up a tier in the technology and telecommunications table. The Pioneer team works across a swathe of sectors like education, advertising, healthcare, pharma, financial services and logistics. Apart from the corporate focus, the firm is also active in employment, insurance, IP, infrastructure, project finance and TMT matters. The firm has national expansion plans and will soon start its commercial litigation and arbitration practice in Mumbai. The other key partners and corporate specialists are Mayank Mehta, Shoubhik Dasgupta, Anupam Shukla and Sanket Jain.
Client feedback
“They are very knowledgeable, hard workers, and easy to work with.” – Corporate and M&A
Pritha Jha
“She is fun, loyal and hard-working.”
Work highlights
Represented an individual in a writ petition which was filed for quashing and setting aside of the look out circular issued against the client by the Bureau of Immigration at the behest of the Serious Fraud Investigation Office, preventing the client from leaving the country.
Delhi-based Prosoll Law is a respected criminal law boutique, featuring three experienced advocates. The key contact is founder Harsh Sharma, a seasoned criminal lawyer with several landmark judgments under his belt. Within the criminal law space, the firm handles all practices ranging from anti-corruption matters, money-laundering issues, regulatory disputes, white-collar crimes, frauds and economic offence-related litigation, constitutional challenge disputes and civil litigation. Recent clients include company directors, medical professionals and government officials. This year the firm welcomed associate partner Arjit Benjamin from Law Offices of Panag & Babu.
Work highlights
Representing the co-founder of Micromax Informatics in a bribery-related matter.
Engaged by a former Delhi High Court judge in relation to a case concerning the client’s alleged misuse of his official capacity as a judge, by accepting illegal gratification to pass a judgment.
PSL Advocates and Solicitors is a New Delhi-based boutique with a focus on commercial arbitration, insolvency, tax, corporate advisory, and commercial litigation. The firm sits on multiple government panels, such as State Bank of India, the Central Board of Indirect Taxes and the Airports Authority of India, and it uniquely has specialist Russia, Israel, Japan, Dubai and Turkey desks. The firm recently expanded and opened up in Bengaluru to add to its roster of offices in New Delhi, Mumbai and Chandigarh. Co-founders and managing partners Sameer Jain and Sandeep Bajaj are the main firm contacts. Co-founding partner Siddharth Jain is another name to note. Partner Angad Sandhu left for an in-house role at Jindal Group.
Work highlights
Represented Mahanagar Telephone Nigam on its ongoing dispute against Canara Bank and Canbank Financial Services. This has been one of the biggest disputes that arose out of the infamous Harshad Mehta scam in India. The case would set a landmark for many small business owners who are contesting the market variations caused by the events.
Acted for Wipro before the Delhi High Court in a commercial suit filed on its behalf against Education and Research Network India.
Regius Legal was established in its current form in 2018 after firm founder Kiran Jain, who began his legal practice in 1991 as a sole proprietary concern, structured the business as a partnership. The firm is now led by two equity partners, Jain and senior partner Ish Jain, and they head up a team of 40 lawyers. The firm’s main pillar remains dispute resolution, but it has also branched out into other areas such as corporate advisory, real estate, aviation and space law, art and sports law, maritime law and project financing. The firm moves up a tier in the real estate category this year based on the depth and breadth of work for clients in this sector. Ish Jain is particularly noted for his expertise in white-collar crime litigation.
Client feedback
“Follows the right track and advises best on the next strategy.” – Dispute resolution
“They do the work thoroughly.” – Dispute resolution
“Regius Legal has several positive attributes that contribute to its success. Regius Legal has lawyers who are highly skilled and knowledgeable in their practice areas, providing high-quality legal services to their clients. They also excel in effective communication, building strong relationships with clients and providing personalised service and timely responses. Another strength of Regius Legal is their focus on client satisfaction and delivering favourable outcomes. Regius Legal also has innovative practices and technologies, which they have been using to increase their efficiency and provide better value to their clients.” – Dispute resolution
Ish Jain
“He handles cases very well, has knowledge of law and has vision for further strategy.”
Kiran Jain
“He is a good listener.”
“I highly recommend Mr. Kiran Jain for legal services. My initial interactions with him and his team of lawyers have developed into a long-lasting relationship due to the exceptional quality of service they provide. Kiran Jain has demonstrated his ability to handle several complex legal matters with tact and strategic thinking. As a result, I have continued to trust him and the team to handle both my personal and professional legal matters. His expertise and professionalism have been invaluable in helping me navigate through challenging situations.”
Work highlights
Advised developer Chamankar Enterprises in an arbitration claim against the state of Maharashtra.
Represented Ekta Nagar Co-op Housing Society in an arbitration matter.
Represented Vardhman Estate Corporation against a writ petition filed by the Society for Deemed Conveyance.
Key clients
Jainam Realtors, Orbit Ventures Developers
Founded in 2015 through the restructuring of an 85-year-old commercial law chambers, RPV Legal is a boutique firm with a broad commercial and white-collar defence and investigations practice. The lawyers have long track records acting on commercial disputes across a number of sectors, such as aviation, banking, construction, infrastructure, real estate, energy, life sciences and technology. They have acted as counsel in multiple landmark litigations and complex domestic and international arbitrations. In particular, the team specialises in high-value international and multi-jurisdictional arbitrations under ad hoc and institutional rules. The firm’s roster of clients comprises sovereign states and state corporations, business conglomerates, non-governmental organisations, trusts, banking and financial institutions and several high-net-worth individuals in India. The firm is headquartered in New Delhi and has a strong presence in the appellate courts and the Supreme Court. The key contacts for disputes are co-managing partners Shashank Verma and Kunal Verma, senior partner Yugandhara Jha, and partners Sooraj Sharma, Jatin Kochhar and Vipul Agrawal.
Client feedback
“RPV Legal has highly skilled and knowledgeable lawyers with expertise in various fields of law especially construction, real estate and arbitration. They are thorough professionals with a strong work ethic.” – Construction
“They excel in drafting, pleading, appearance and research. I highly recommend them.” – Construction
“They are very professional and knowledgeable.” – Dispute resolution
“RPV Legal is a disputes powerhouse. They are excellent in strategy and implementation in complex multi-jurisdictional matters. Their team is very professional, responsive, and astoundingly capable.” – Dispute resolution
“RPV Legal is the firm of choice for complex, high-profile cases. The quality of advocacy and preparation provided by the lawyers is exceptional. The team is easy to get on with, reliable, extremely well organised and quick to respond to calls and emails. They work to a very high and professional standard.” – Dispute resolution
“The team is very competent, enthusiastic and well equipped to handle arbitration and litigation in complex matters. They are thorough in their research and always offer sound and practical legal advice considering all aspects.” – Dispute resolution
“RPV Legal has the capability of expertly navigating through complex legal disputes. Their attention to detail and strategic thinking is praiseworthy. The team at RPV Legal is dedicated and highly skilled.” – Dispute resolution
“Lawyers at RPV Legal possess remarkable legal knowledge, strategic thinking, and meticulous attention to detail. Their team's in-depth knowledge of various laws and regulations, combined with their strategic thinking, ensured a solid approach to my case. Their ability to anticipate challenges and adapt their strategy accordingly was truly remarkable."” – Dispute resolution
“The lawyers at RPV Legal exhibit great versatility in their approach and possess exceptional expertise in the realm of commercial law. Whether it's court litigation, arbitration proceedings, or advisory services, they consistently deliver commendable arguments and defences. They effectively communicate their ideas, actively consider our feedback on their work, and provide honest and rational opinions, thereby establishing their legal advice as highly credible and reliable.” – Dispute resolution
“Professional and user-friendly team.” – Dispute resolution
“The lawyers are competent, knowledgeable and dedicated.” – Dispute resolution
“Hard-working, professional and responsive.” – Dispute resolution
“Highly professional and easy to work with.” – Dispute resolution
“Insightful, professional and good with strategy and delivery.” – Dispute resolution
“Good team size and domain expertise.” – Dispute resolution
“Some of their positive attributes are their great work ethics, professionalism, research skills, drafting, case strategy and legal knowledge.” – Dispute resolution
“Professional and hard-working.” – Dispute resolution
“Efficient services, up to date, and easily accessible.” – Dispute resolution
“RPV Legal places a strong emphasis on client satisfaction and tailors its services to meet their client's needs. This includes providing personalised attention, actively listening to our concerns, and keeping us informed about the progress of our cases. Their expertise allows them to provide effective legal advice, navigate complex legal issues, and offer innovative solutions to their clients.” – Infrastructure
“The lawyers at RPV Legal bring a wealth of expertise, showcasing a profound understanding of the legal landscape. They exhibit remarkable proficiency, unwavering determination, and a strong focus on achieving desired outcomes.” – Mining
“Trustworthy and reliable advice, experienced and highly skilled at their work.” – Mining
“Efficient and professional.” – Real estate
“Exceptional legal expertise, coupled with personalised attention and strategic guidance, made our experience with RPV Legal truly remarkable. Their team's commitment to thorough research, clear communication and unwavering advocacy ensured our success. We highly recommend RPV Legal for their professionalism, integrity and outstanding results.” – Regulatory
“RPV Legal has a blend of both young and experienced lawyers. With such a blend, you get the best of both worlds. They have exceptional knowledge and expertise in the field of regulatory matters. Their strategic approach and meticulous strategy helped me secure a favourable order in my case.” – Regulatory
“Very experienced, having sound knowledge of the law, capable, determined and result-oriented.” – Regulatory
“The RPV Legal team does a great job of communicating with its clients, and the structure they provide regarding the plan of action and timelines.” – Tax
Vipul Agrawal
“Very responsible and makes it easy for us to understand legal jargon easily.”
“Advocate Vipul Agrawal is extremely knowledgeable and has a positive outlook towards matters referred to him.”
“Knowledgeable, efficient, easily accessible and dependable.”
“Vipul is very solution-oriented, provides exceptional guidance and strives hard to achieve favourable results. His deep understanding and knowledge of contracts and arbitration law is impressive.”
“Vipul has strong advocacy skills. He takes time to thoroughly understand the intricacies of any dispute or issue and then offers creative strategies and innovative solutions. He has great professionalism and integrity.”
“Vipul is a skilled lawyer who thinks on his feet. He is very efficient, reliable and dedicated, and that makes all the difference to any case. He always exceeds expectations with his work and personalised approach to every matter.”
“Vipul is a reliable disputes lawyer with sound technical knowledge. He pays great attention to detail, offers practical advice and argues well.”
Waheb Hussaini
“Thorough, knowledgeable, and good, timely communications.”
Jatin Kochhar
“Working with Jatin was an absolute blessing. His legal expertise and attention to detail surpassed our expectations. He listened attentively, communicated clearly, and tirelessly fought for our case. I couldn't be happier with the outcome and highly recommend his services.”
“He is remarkable in research, understanding the nuances of the case and accordingly makes strategies to achieve the desired results in his client's favour. He possesses great knowledge and skills.”
“Jatin is a smart young lawyer with expertise in diverse laws. He is a highly skilled lawyer which allows him to provide effective legal advice, navigate complex legal issues, and offer innovative solutions to his clients. he believes in achieving the best outcomes for his clients and often works long hours, conducts extensive research, and meticulously prepares legal documents to deliver high-quality legal services.”
“Working with Jatin was an absolute pleasure. His professionalism, expertise and attention to detail were exceptional. He communicated effectively, provided timely updates, and fought tirelessly for our case. I highly recommend Jatin for anyone seeking reliable and results-driven legal representation. He demonstrates exceptional knowledge, dedication and attention to detail. His strategic approach and excellent communication skills instilled confidence throughout our case. We are incredibly grateful for his professionalism and the favourable outcome he achieved.”
“Jatin is a young partner. However, he may be young in age but he has exceptional knowledge and know-how of the legal industry. He was instrumental in drafting, research, strategising and in getting a favourable outcome for me.”
“He is a knowledgeable and experienced lawyer in the field of construction and real estate work. He excels in drafting, research and appearance before the courts and tribunals.”
“Jatin possesses a deep understanding of legal concepts and issues. His strategic thinking and meticulous approach to case preparation ensured that no stone was left unturned. His streamlined approach, unwavering commitment, and ability to explain legal complexities in a simple manner gave me immense confidence throughout the process.”
Sooraj Sharma
“Knows how to get to the core of the case and delivers exceptional results.”
“Exceptionally sharp and very pleasant to work with.”
“Absolutely first class. A phenomenal tactician and a brilliant legal mind.”
“Sooraj is extremely strategic and insightful. He is a patient listener and a deep thinker. He is brilliant and highly skilled in complex international disputes and an absolute pleasure to work with.”
“Sooraj is a fantastic advocate, gives robust and clear advice and is great with clients.”
“The communication and problem-solving capabilities that Sooraj possess is top-tier.”
Kunal Verma
“Kunal is an experienced and competent lawyer. He has a very practical approach to legal issues and easily breaks down complex problems to come up with the best solutions.”
“Highly experienced, effective and reliable. Has deep understanding and extensive knowledge of law.”
“He is super-knowledgeable, massively experienced, pragmatic, and good with clients.”
“Extremely smart, commercially minded and very good at explaining complex situations in a simple way.”
“Thorough, meticulous and impressively committed to the case.”
“Kunal is easy to work with, down to earth and an impressive advocate.”
Shashank Verma
“A very experienced lawyer, he has in-depth knowledge of law and public policy, and is professional and result-oriented.”
“A very decisive and effective commercial lawyer.”
“He is a calm and measured advocate, and a genuine expert in commercial disputes.”
Work highlights
Represented a sovereign state in a multi-million-dollar transnational litigation pertaining to a mega financial fraud and embezzlement of public funds.
Assisted a landowner as the petitioners in a multi-billion-dollar eminent domain dispute before the Supreme Court of India concerning the acquisition of a prominent land parcel in Mumbai.
Formerly known as Singh & Associates, S&A Law Offices was established in 2002 by Manoj Singh. The full-service law firm is recognised for its corporate and M&A and dispute resolution offerings. The firm now houses more than 300 legal professionals across its four offices in Delhi, Gurgaon, Mumbai and Bangalore. Sector experience includes infrastructure, real estate, green energy, power, oil and gas, shipping, mining, manufacturing and transportation. This year, the firm moves up a tier in the construction table. Key contacts are disputes specialist Singh, joint managing partner Daizy Chawla, joint managing partner Gunita Pahwa, and senior partners Vijay Singh and Nilava Bandyopadhyay.
Client feedback
“Quick turnaround and sharp commercial acumen.” – Corporate and M&A
Daizy Chawla
“She’s a good relationship manager, always accessible and quick to respond.”
Work highlights
Advised Adani Electricity Mumbai and Adani Transmission against Reliance Infrastructure involving a claim and counterclaim.
Represented Kalpataru Power Transmission in relation to an arbitration matter between Kurukshetra Expressway and the National Highways Authority of India.
Key clients
Adani Vizag Coal Terminal Private, Delhi International Airport, JMC Projects, Palm View Investments.
S&R Associates has market-leading capital markets, and corporate and M&A practices, a regular choice for selective clients. Its competition, disputes and insolvency practices are growing from strength to strength every year and perform well in their respective categories in our rankings. The firm moves up a tier in the banking and finance table. The firm is not a high-volume outfit but features on big-ticket mandates that require sophisticated lawyering. A highlight matter for the firm was playing a lead role for ArcelorMittal in its precedent-setting joint acquisition of Essar Steel with Nippon Steel, an instruction that required the savvy capabilities of its corporate, disputes and insolvency teams. Capital markets head Sandip Bhagat is highly respected in the market, with a peer acknowledging: “[There is] absolutely no comparison, he is simply the best.” Partners Rajat Sethi and Niti Dixit lead the M&A and dispute resolution teams, respectively.
Client feedback
“They are responsive to queries, provide valuable input and negotiate our position well.” – Banking and finance
“Quality of work is stellar.” – Corporate and M&A
“They are the most hard-working legal advisers I have ever worked with. They are very responsive, smart and hands-on.” – Corporate and M&A
Arpita Garg
“She is very approachable, knowledgeable with legal matters, provides valuable guidance and strongly negotiates our position on certain matters.”
Mohit Gogia
“Responsive and helpful.”
Rajat Sethi
“He is very responsive, knowledgeable, always attentive and available.”
Work highlights
Represented F Hoffmann-La Roche and Genentech in their civil claims against the Drugs Controller General of India and certain Indian manufacturers of purported biosimilar versions of the client’s blockbuster breast and gastric cancer drug, Trastuzumab.
Saakshya Law is a corporate litigation outfit specialising in contentious issues involving public law, mining and natural resources and renewable energy. The team has represented clients at domestic and international arbitrations and is well versed with all the legal, procedural and regulatory compliances needed for various arbitral forums and chambers. Partner Aditya Narayan is the key contact.
Work highlights
Represented the Federation of Indian Mineral Industries before the Supreme Court in an application to relax restrictions on the sale of pellets and iron ore produced in the state of Karnataka.
Advised the National Law School of India University in appeals filed before the Supreme Court by the State of Karnataka. The matter involves accessibility to the National Law School of India University and the validity of reservations put in place by the state of Karnataka restricting access to students from outside Karnataka.
Sagus Legal was founded in early 2020 by ex-Shardul Amarchand Mangaldas & Co corporate partner, Shruti Kanodia. The firm’s core strengths are corporate and M&A, dispute resolution, and energy and infrastructure work. It has offices in New Delhi, Odisha and Gurugram. The key partners are Kanodia and disputes expert Anand Kumar Shrivastava.
Client feedback
“Hard-working, clear on the law and provides practical advice.” – Energy
“They do extensive study and have a good command of the subject. They focus on cost-cutting for us, have a good office setup and a great team.” – Regulatory
“They are a diligent team and have good knowledge, acumen and the practical aspects of the legal craft. They provide business-oriented solutions. They have a good hold on regulatory and corporate aspects.” – Regulatory
Anand Srivastava
“Very clear on the business needs of the company and is able to stitch the requirements and regulations prevailing together to get the desired outcome.”
“He is doing well.”
“He’s got an in-depth knowledge of the business and good legal acumen. He has excellent client management skills, experience and thought processes.”
Work highlights
Represented Tata Power Company before the Supreme Court of India challenging the judgment of the Appellate Tribunal for Electricity (APTEL).
Represented TP Central Odisha Distribution in an appeal filed by Indian Railways before APTEL.
Sarthak Advocates & Solicitors has extensive experience working on energy and infrastructure projects and is noted for its corporate and M&A, dispute resolution, and restructuring and insolvency practices. The firm is empanelled with public sector undertakings Bharat Heavy Electricals, Engineers India and Shipping Corporation India. Managing partner Abhishek Nath Tripathi leads the firm’s corporate and M&A, projects, infrastructure and project finance, and bankruptcy and insolvency practices, while senior partner Mani Gupta oversees the dispute resolution team. The firm recently welcomed transactions partner Apoorva Chandra from King Stubb & Kasiva and litigation partner Siddharth Rao from the World Bank Group.
Work highlights
Represented Bharat Heavy Electricals in raising objections to an award passed by the sole arbitrator in relation to claims filed by contractor Progressive SWE-BEPL.
Shardul Amarchand Mangaldas & Co has a commanding presence in the market with top-tier practices across all practice areas and industry sectors. It is routinely considered one of the best firms in a highly competitive market for transactions and a first port of call for selective international clients. This year it is boosted into the uppermost category for its pharmaceuticals and life sciences expertise. The firm offers the best of all worlds: large capacity, pan-India presence, depth of expertise and experience, and market-leading professionals. It regularly advises the largest multinationals, Indian conglomerates, and private equity players and funds. The capital markets team continues to represent issuers in many of the country’s largest IPOs and the M&A group remains unmatched for its high-stakes, high-value transactions. Pallavi Shroff is well known for her extensive experience in dispute resolution, and Shardul Shroff is renowned for his expertise as a general corporate lawyer. There were multiple notable movements in the course of the last 12 months.
Client feedback
“Excellent technical knowledge. Sound understanding of market practices and associated risks.” – Banking and finance
“Thorough research, excellent drafting of affidavits and responsive teams. They take ownership of the engagement task and a professional approach.” – Banking and finance
“They have practical positions on legal interpretation and always deliver in a timely fashion.” – Capital markets
“Timeliness, efficiency and expert in the field of competition law.” – Competition/antitrust
“The team understands business, and provides clear advice shorn of unnecessary legalese. They are always looking to solve problems for the business, and they have become trusted advisers over the course of our engagement with them.” – Competition/antitrust
“Excellent, well-rounded team which provides specific and pointed advice.” – Corporate and M&A
“High-quality legal advice, and knowledge of market and regulatory developments.” – Corporate and M&A
“Very responsive and provide clear advice.” – Dispute resolution
“Strong understanding of the market, subject matter and time management.” – Media and entertainment
“Great team that is always available, has high competence and is able to close points.” – Private equity
“SAM has one of the strongest restructuring and insolvency teams which is supplemented by a wide spectrum of expertise that is required to resolve complex restructuring situations. Their experience and network in the region spanning insolvency, corporate law, debt and equity capital markets, regulations and litigation was instrumental in the successful outcome in a number of situations.” – Restructuring and insolvency
Manika Brar
“She has a positive attitude, good communication skills and great domain knowledge.”
Sayantan Dutta
“He has a hands-on approach and takes tough stands when needed.”
Jay Gandhi
“Excellent PE knowledge and personalisation.”
Radhika Indapurkar
“Dedicated, hard-working, good communications, good drafting skills, and excellent domain knowledge.”
Ila Kapoor
“Good team leader. Very responsive and great communications.”
Abhishek Parekh
“Great, well-rounded lawyer. He handled the negotiations and documentation very well.”
Veena Sivaramakrishnan
“We valued her depth of technical knowledge, coupled with a sound understanding of market practice.”
“She’s a top lawyer in restructuring and insolvency in the region with innovative solutions to solve complex, multi-stakeholder restructuring situations. She has an extremely strong ability to solve difficult problems and provide timely recommendations that have proven to be correct on a number of occasions.”
Puja Sondhi
“Great leader who manages situations very well.”
Yaman Verma
“We were very impressed by the ownership taken by Yaman. He provides excellent advice to businesses in a manner that is easy to understand for people with non-legal backgrounds. He is our go-to adviser for new ventures, as he helps us identify and remove potential roadblocks. He has a deep technical understanding of competition law, as well as the commercials of the e-commerce space, which he combines to provide cutting-edge advice.”
Work highlights
Represented Tech Mahindra before the Supreme Court of India on a challenge to an international arbitration award by London Court of International Arbitration in favour of Tech Mahindra and against Venture Global Engineering.
Singh & Associates was established in 2002 by Manoj Singh. The full-service law firm is recognised for its corporate and M&A and dispute resolution offerings. Sector experience includes infrastructure, real estate, green energy, power, oil and gas, shipping, mining, manufacturing and transportation. Key contacts are disputes specialist Singh and managing partner Daizy Chawla. The firm moves up in corporate and M&A this year and welcomed corporate partner Neeraj Dubey from Lakshmikumaran & Sridharan. The disputes group experienced an influx of senior level talent from leading peers. Partners Reeta Mishra, Neeraj Dubey, Smita Singh, Jyoti Kumar Chaudhary and Apporve Vashistha joined from Kochhar & Co, Lakshmikumaran & Sridharan, Ashok Dhingra Associates, Hammurabi & Solomon and L&L Partners, respectively.
Client feedback
“They have skilled staff and turnaround time is fast. Their approach is very professional.” – Dispute resolution
“The partners have a good understanding of the not-for-profit position of the organization and the different acts that impact its proposed activities to make the organization more sustainable. They provide clear, to-the-point, professional legal advice and have timely responses.” – Regulatory
“The legal associates we communicated with for these services were extremely thorough and timely in their responses.” – Regulatory
Sunaina Jhingan
“Sunaina demonstrated excellent communication and was very timely in her responses.”
Neha Mittal
“Good communication, responsive, good professional knowledge and patient.”
Manoj Singh
“He has in-depth knowledge of the subject matter.”
Work highlights
Represented Jindal Saw as respondent after the cancellation of a mining lease and successfully defending the client against allegations of agreement violation.
Acting for DBL Mahagaon Yavatmal Highways in a case against the National Highway Authority of India over a delay in the project, the construction, operation and maintenance of a highway.
Key clients
Jindal Saw, Parsa Kente Collieries, Sterlite Technologies, Timarpur Okhla Waste Management Company, Vikram Solar
Singhania & Partners is particularly noted by market insiders for its experience in infrastructure-related disputes, with its lawyers known for their roads, highways, railways, energy and infrastructure specialties. For example, the firm is empanelled by the National Highway Infrastructure Development Corporation, Security Printing and Minting Corporation of India, RailTel Corporation of India, and National Hydropower Corporation. It recently expanded its office space in Bangalore and aims to recruit more for its corporate and disputes groups. Managing partner Ravi Singhania is a respected name in the market. Key contacts include Singhania, senior partners Dipak Rao and Shilpa Shah and disputes partner Vikas Goel. The firm welcomed its new CEO, Varun Jain, from Google.
Client feedback
“They provide thoughtful and creative advice, are very responsive and sharp, and figure out solutions rather than explaining why they can’t do what the business wants to accomplish.” – Corporate and M&A
Ravi Singhania
“Ravi is very thoughtful and a problem-solver.”
Work highlights
Represented Dedicated Freight Corridor Corporation of India in an arbitration against a joint venture of Tata Projects and Aldesa Construcciones in Spain led by Tata Projects.
Six-year-old Singularity Legal has a unique business model. It is billed as a “border agnostic” Asia and Africa-focused law firm specialising in international dispute resolution. Unlike conventional domestic firms that focus on legal services governed by Indian law, Singularity only handles international cross-border disputes and acts based on the various countries’ governing laws and transnational laws. The boutique law firm has developed a strong track record for handling transnational disputes, unearthing frauds, obtaining injunctive reliefs and assisting in debt recovery. It frequently works with litigation funders.
The most significant development this year is that Singularity Legal is now licensed to practice before the courts at the Dubai International Financial Centre (DIFC), making it the first Indian firm to be Part-I registered solicitors at the DIFC. Since its inception, the firm has handled claims of more than $8 billion in cross-border conflicts across various sectors including energy and resources, construction and infrastructure, international trade, and sports and entertainment. The firm aims to shift its headquarters to Singapore and provide end-to-end transnational dispute services. Partner Prateek Bagaria is the main contact. He is registered as a Part-II lawyer with full rights of audience before the DIFC courts.
Client feedback
“We appreciate their detailed knowledge, responsiveness and experience of the subject. They give pragmatic advice whilst conscious of legal risks. They say it straight, no sugar coating, without being confrontational.” – Dispute resolution
“Recommended for their attention to detail, strategic thinking and result-oriented approach.” – Real estate
Prateek Bagaria
“He has excellent domain knowledge, communicates articulately and with impact. He is willing to think out-of-the-box to find solutions to clients’ problems. He says it the way he sees it.”
“He’s an out-of-the-box thinker and tackles the issues from all angles.”
Work highlights
Represented a Canadian individual in an arbitration against a leading cryptocurrency exchange for the latter’s involvement in an arbitrage fraud.
Represented two Indian companies in an arbitration under a joint venture agreement for construction of a thermal power plant against a Korean sovereign company.
Represented a Singaporean and an Indian company in an ad hoc arbitration and connected court proceedings concerning termination of a contract for conversion of a mobile offshore drilling unit to a mobile offshore production unit, against an Indian state-owned enterprise.
Kolkata-headquartered SK Singhi & Co was established in 2009 by SK Singhi. It also has offices in New Delhi, Mumbai, Bhubhaneshwar and Gurugram. The firm has anactive dispute practice handling litigations and arbitrations cross various courts, appellate tribunals and arbitration centres. In particular, the firm’s lawyers are specialised in corporate frauds and white-collar crimes and have been busy representing and advising clients on investigations, criminal proceedings and various compliance-related issues. The team of over 30 associates is led by managing partner Singhi and senior partner Ankur Singhi. The firm boosted its supporting ranks with the recent hiring of 11 litigation-focused associates, which brings the firm’s total numbers to 63.
Work highlights
Assisted Forum Properties Holdings on filing a writ petition challenging the order of Metro Railway Authorities with respect to acquisition of the client’s land.
Representing Union Bank of India as the respondent in justifying its action with respect to the declaration to the account of the company as a non-performing asset.
Defending Invent ARC Private against a writ petition that was filed by one of the petitioning parties challenging the order passed under the Money Laundering act.
Key clients
Forum Projects, Funtail Enterprises, Saraf Agencies
SKR & Partners will celebrate its 20th anniversary next year. The full-service firm was established by Santosh Kumar Ray and it has offices in Kolkata, Mumbai and Delhi. The firm has offerings in regulatory, advisory and dispute resolution, and makes its debut in the rankings for restructuring and insolvency, and dispute resolution. The firm has been very active on contentious insolvency matters in the past year. Other key contacts at the firm include partners Chetana Lal, Rituparna Sanyal and Akash Tandon.
Work highlights
Assisted the State Bank of India on the maintainability of the CIRP against the main corporate debtor.
Represented the Bank of Baroda in matter against the legal heir of a personal guarantor. This case saw the NCLT considering the issue of whether an application under Section 95 of IBC is maintainable against legal heirs of personal guarantor for the first time and gave clarity to this issue.
Advised the Central Bank of India, UCO Bank and Textile Solutions, in their separate applications against corporate debtors.
Tatva Legal Hyderabad is a sizable, full-service firm with offices in Telangana and Andhra Pradesh. Its core pillars are banking and finance, dispute resolution, labour and employment, investment funds, private equity, R&I and real estate. Managing partner Shailendra Komatreddy is the key contact. The firm welcomed corporate specialist Kaushalya Guduru from Avendus Capital and disputes manager Palash Taing from S&A Law Offices in the past year.
Work highlights
Represented VSoft Holdings on the enforcement of orders passed by the Supreme Court of Mauritius.
Advised Investcorp Score Fund on the possibility of initiating an insolvency case against the personal guarantors.
Based in Hyderabad, Tempus Law Associates is a multi-service law firm that was established by lawyers who are qualified in both India and New York. Its core offerings include corporate and M&A, private equity and dispute resolution. It has a robust venture capital practice, in particular. Founding partners Sundari R Pisupati and P Raviprasad are the main contacts. At the end of 2022, the firm welcomed associate partner Vivek Choudhary from Fox Mandal & Associates.
Work highlights
Represented a pharmaceutical R&D company in a litigation matter before the National Company Law Tribunal (NCLT), filing an oppression and mismanagement petition against the directors of the company.
Acted for a chemical and pharmaceutical manufacturer in a matter where the attachment of properties was ordered by the Enforcement Directorate.
Assisted a multinational technology company in filing a NCLT Insolvency and Bankruptcy Code petition against another international technology firm.
ThinkLaw was established in early 2021 and bills itself as a “new age law firm”. It focuses on corporate and commercial transactions, dispute resolution, IP and IT, and employment matters. Managing partner Tushar Ajinkya and partner Ankita Kashyap are the key contacts.
Work highlights
Successfully defended some promoters of the Kirloskar companies in a proceeding regarding violation of insider trading regulations before the Securities Appellate Tribunal.
Thiru & Thiru is a full-service law firm with a noted presence for high-stakes litigation matters. Its team comprises veteran disputes lawyers who have handled several landmark Indian cases. Sectoral specialties include science, technology, finance, export and commerce. The key contacts are managing partner Manik BT and founding partner Revathi S. Both are disputes and real estate specialists.
Client feedback
“Their domain expertise is excellent, and they can present the facts and law in a lucid and simple manner. They are quite good in strategising the actionable items.” – Dispute resolution
Manik BT
“His insights and analytical skills are very good.”
Work highlights
Successfully represented a domestic public sector bank in an arbitration against a large global technology firm.
Acted for EnerSys in defending insolvency proceedings, and by challenging the constitutional validity of the IBC, won a stay in the proceedings.
Represented the petitioner in a seminal matter where the court held in favour to the client, stating that all civil disputes should be compulsorily referred to mediation, irrespective of the litigant’s initial consent, and that courts should impose cost on litigants who refuse to participate.
Trilegal climbs up in several rankings this year, including infrastructure, insurance, pharmaceuticals and life sciences and real estate. It is quickly becoming a preferred choice for heavyweight clients, an alternative to the famous family firms that inhabit the top echelon of legal services providers. Its TMT practice continues to gain traction as a market leader, and its private equity and investment funds offering is going from strength to strength. The firm’s five-year-old asset management and fund formation practice has rapidly risen to be a power player. The dispute resolution team, led by Shankh Sengupta, has proven its worth with an elite group of litigators acting in high-stakes matters for premier clients.
Work highlights
Represented the official liquidator of Devas Multimedia in a dispute stemming from an agreement executed between Antrix Corporation and the client for the lease of space segment capacity on Antrix’s S-Band spacecraft.
UKCA and Partners is a full-service law firm with historical roots going back 34 years. It has three partners, one of counsel and 15 associates. The firm is noted for its strengths in banking and finance, corporate and M&A, restructuring and insolvency, and real estate. This year it moves up one ring in the R&I rankings, a testament to its specialty in this area. Managing partner Manisha Chaudhary has experience in all practice areas, notably corporate and M&A and dispute resolution.
Client feedback
“UKCA & Partners are extremely client-centric, and provided excellent service and well-researched legal documentation in support of the legal action taken.” – Corporate and M&A
“They have very strong professional skills in corporate restructuring backed by unparalleled litigation management expertise.” – Corporate and M&A
Manisha Chaudhary
“Very focused, committed and hard working.”
Navin Dahiya
“Very thorough understanding of the subject, with a positive attitude ready to take everything for a matter.”
Work highlights
Representing MGF Developments in a litigation against Emaar Group relating to a demerger.
Acting for Reebok on its dispute with Reebok minority shareholder, Focus Energy, in relation to the issuance of compulsory convertible debentures.
Representing Indira IVF Hospital and its promoter group in a dispute with the minority shareholders of the company.
Defending SMS Investment Corporation against oppression and mismanagement claims instituted by the relatives of Maharaja Sawai Man Sing II.
Founded in 2015, Veritas Legal’s bread-and-butter are its corporate and M&A and private equity practices, with its dispute resolution offering also rapidly rising in prominence. This year, it debuts in the banking and finance, and construction rankings. For its size, the firm punches above its weight, amassing an impressive deal flow and volume last year. It consistently placed in respected M&A and PE league tables within the top 10 of all Indian law firms. Sector-wise, it is deepening its footprint in pharmaceuticals and life sciences, real estate, and technology and telecommunications. Founder and managing partner Abhijit Joshi is a highly respected M&A and private equity lawyer, and partners Rahul Dwarkadas and Neveille Mukerji specialise in dispute resolution. Other key partners include Kunal Doshi and Tushar Raut. Recently, the firm welcomed banking and finance partner Jhinook Roy and corporate specialist Shubhangi Pathak from Khaitan & Co and Tuli & Co, respectively.
Work highlights
Acted for Anupam Mittal, a founder of People Interactive, which runs one of the largest matrimony portals in India, in respect of a shareholders dispute, including a cross-border litigation in the Singapore High Court. The judgment passed in the proceedings in Singapore decides the point of law as to whether the law of the seat of arbitration or proper law of the arbitration agreement should be applied to determine the arbitrability of disputes.
Wadia Ghandy & Co is one of the oldest full-service law firms in India, established in 1883. The firm has offices in five cities and houses more than 150 fee earners. The firm’s banking and finance offering is widely respected and this year it ascends into the Highly Recommended tier for this work. The firm also boasts strengths in aviation, disputes and real estate. The key contacts include senior partners Shabnum Kajiji and Hamid Moochhala, and joint managing partners Ashish Ahuja and Dhawal Mehta.
Work highlights
Represented Zee Entertainment Enterprises before the National Company Law Tribunal in Mumbai in relation to the DSRA guarantee agreement.
Alaya Legal celebrates its 20th anniversary this year, being founded in 2003 by Divjyot Singh and Suniti Kaur. The firm’s core areas are corporate transactions and advisory, and dispute resolution. Sectoral focuses include energy, infrastructure and oil and gas. Its boutique energy practice covers areas such as upstream, midstream and downstream, gas infrastructure, refineries, petrochemical operations and marketing, crude oil, gas, LNG and petroleum products sales and aviation fuel farms. The litigators have a deep bench of experience in multiple Indian jurisdictions and at all levels of court, fora and tribunals.
Work highlights
Advised the Sri Lankan government on tender documents in relation to the development of a floating storage regasification unit. This is a first of its kind matter in the country, as it could be the first LNG procurement infrastructure in Sri Lanka.
Assisted an aviation fuel farm operator on the regulatory framework for aeronautical services and tariff determination.
Assisted Indian Oil Corporation on structuring a licensing agreement for a patented solar cooking system.
BTG Legal offers transactional and dispute resolution services from its offices in Mumbai, New Delhi and Bangalore. Its core sector strengths include aerospace and defence, energy and infrastructure, financial services, life sciences, industrials, real estate and transport. Its projects team is regularly engaged by various domestic and international companies to assist them through the whole life cycle of energy generation projects in India. Corporate partners Parveen Arora and Juhi Mehta are the key contacts. The latter joined from Samvad Partners last year.
Work highlights
Advised DFE Pharma in the drafting, review and negotiation of its EPC contract and subsequent purchase orders in relation to a multimedia energy plant in Chennai.
Engaged by Indo-German Energy Forum to prepare a legal report on assessing the current legal framework in Indian states of Maharashtra and Karnataka, in the context of agrophotovoltaics.
Kochhar & Co has a pan-India presence and excels in a multitude of practice areas, from dispute resolution to real estate. Its technology and telecommunications practice is lauded as one of the best in the country. Stephen Matthias is a leading technology lawyer who heads the firm’s first-rate team. Managing partner and litigation specialist, Rohit Kochhar is the main contact.
Work highlights
Acted for Sterlite Group as a borrower in a marquee power transmission sector financing.
Advised PMI Electro Mobility on its investment from GreenCell Mobility.
Represented Saurya Urja Company of Rajasthan, a solar infrastructure developer, on its agreements with a solar park developer.
Key clients
ASK Financial Holding, China State Construction Engineering Group, Experion Developers, ICICI Bank, PMI Electro Mobility, SBC Bank, Solar Pack
Established in the summer of 2021 by a group of partners from Luthra and Luthra Law Offices, Saraf and Partners has established itself well as a highly regarded full-service firm with core strengths in projects, corporate and M&A, private equity and restructuring and insolvency. The team consists of no less than 34 partners and over 180 personnel. By the end of 2022, the teams had executed more than $43 billion worth of transactions and in the spring of 2023, it acquired boutique real estate law firm, SRGR Law Offices and its 20-strong team. Key contacts include founder Mohit Saraf, and senior partners Bikash Jhawar, Vaibhav Kakkar, Manmeet Singh, Vikrant Kumar, Sanjeev Sharma and Saroj Jha. The firm welcomed a trio of R&I specialists: Ankur Khandelwal from Kochhar & Co, Anugrah Robin Frey from Luthra and Luthra Law Offices and Sairam Subramanian from Shardul Amarchand Mangaldas & Co.
Client feedback
“We appreciate they understand our business vis-à-vis legal attributes.” – Dispute resolution
“Responsive, expert and practical.” – Regulatory
Satadru Goswami
“We value his depth of knowledge and understanding.”
Vaibhav Kakkar
“Practical, responsive, understands risk mitigation and a great communicator.”
Manmeet Singh
“Good understanding of business and a man of details.”
Work highlights
Advised State Bank of India on its financing of the development, construction, operation and maintenance of a coal mine in Queensland, Australia to be developed by Adani Mining.
Sarthak Advocates & Solicitors has extensive experience working on energy and infrastructure projects and is noted for its corporate and M&A, dispute resolution, and restructuring and insolvency practices. The firm is empanelled with public sector undertakings Bharat Heavy Electricals, Engineers India and Shipping Corporation India. Managing partner Abhishek Nath Tripathi leads the firm’s corporate and M&A, projects, infrastructure and project finance, and bankruptcy and insolvency practices, while senior partner Mani Gupta oversees the dispute resolution team. The firm recently welcomed transactions partner Apoorva Chandra from King Stubb & Kasiva and litigation partner Siddharth Rao from the World Bank Group.
Work highlights
Advised Bharat Heavy Electricals in the tendering process for bidding for a thermal power project of 300MW.
Assisted Satluj Jal Vidyut Nigam to review its rate and EPC contract packages.
The market holds Link Legal in high regard for its strengths in aviation, construction, energy and infrastructure work. The firm is a first port of call for infrastructure players due to its vast experience in large-scale, long-term infrastructure projects and regulator relationships, and the ability to go beyond transaction basics into extra layers of service like financing insurance. The corporate team welcomed four new partners in the last 12 months, such as Jinni Sinha from IndusLaw and Sayantani Dutta from Wadia Ghandy & Co. Infrastructure specialist Rajesh Sehgal joined from Trina Solar. Atul Sharma and Nusrat Hassan are key partners for energy and infrastructure, and corporate and M&A, respectively. Managing partner Anand Srivastava is also a projects and finance contact. The firm recently combined with Dentons to become part of the global law firm’s sprawling international network.
Client feedback
“Timely and excellent delivery in all matters.” – Aviation
“The firm plans the activities well and delivers the services within the agreed timelines.” – Capital markets
“Very good knowledge and experience of the subject. It provides research-based representations and approach towards a matter.” – Energy
“They handled things very well, and have a knowledgeable partner and team. Approachable 24/7.” – Private equity
Namita Das
“Knowledgeable and approachable. Effective management.”
Milind Jha
“Quick turnaround for queries raised, timelines have been always met, and he is solution-oriented.”
Aditya Singh
“Rich knowledge, innovative, research based approach, and provides right and practical advice.”
Anand Srivastava
“Good approach and a problem-solver.”
Work highlights
Assisted National Industrial Corridor Development & Implementation Trust on the development of Dholera Airport in the state of Gujarat.
Advised GMR Hyderabad International Airport on the next phase of expansion of Hyderabad Airport.
Key clients
Hisense India, Indraprastha Apollo Hospitals, Wingtech Mobile Communications.
HSA Advocates has a commanding reputation in the market as a preferred firm for energy, construction and infrastructure work. Sophisticated clients know this is the firm for complex, multi-party, long-term infrastructure projects, as it has decades of experience working with all stakeholders from the beginning to the end of a project life cycle. The firm provides a complete suite of solutions for development, financing, transactions, restructuring and dispute resolution support. The firm is routinely found advising on power, road, port, airport, oil, gas, clean energy and special economic zone projects. Founding partner and projects legend Hemant Sahai is a key contact. The firm welcomed corporate and funds specialist Satish Kumar Anand and real estate partner Himani Singh Sood from SNG & Partners. Banking partner Sharmil Bhushan left for Kochhar & Co.
Client feedback
“Regarding their expertise, I can confirm they have deep knowledge and expertise in the practice area where we asked for their legal assistance. On their responsiveness, as a company and as I personally value the timely communication, they provide quick turnaround times on projects, and proactive outreach to clients on our external service providers. I can confirm that they were super-responsive both for meetings and via emails with their esteemed knowledge and positive attitude. Speaking of their client-focused approach, I had the impression that they prioritise clients' needs and goals that's why they provide tailored legal solutions that meet clients' specific needs.” – Regulatory
Jivesh Chandrayan
“Here are some examples that we appreciate about him: his adaptability, communication skills and time management, which at the end let us receive the kind of legal service we want.”
Work highlights
Advised National Industrial Corridor Development & Implementation Trust (NICDIT) on the development of an industrial township at Jodhpur Pali Marwar Industrial Area Investment Region and in Khushkheda-Bhiwadi-Neemrana Investment Region under the Delhi Mumbai Industrial Corridor project by and the Government of Rajasthan through an SPV, which is to be incorporated.
Key clients
Adani Properties, Ministry of Defence, Niti Aayog.
Phoenix Legal is a full-service firm that is recognised for its banking and finance, infrastructure, insurance, dispute resolution, labour and employment and restructuring and insolvency practices. This year it moves up in the capital markets table. The four co-founding partners are the main contacts: Manjula Chawla, Saket Shukla, Abhishek Saxena and Sawant Singh. Three partners joined last year, including disputes specialists Gaurav Dudeja and Aman Avinav, and projects partner Pallavi Bedi. The latter joined from Luthra and Luthra Law Offices.
Work highlights
Advised Konkan LNG on regulatory issues and drafting a services agreement for chartering tugboats for transporting LNG from ships to the LNG terminal.
Singhania & Partners is particularly noted by market insiders for its experience in infrastructure-related disputes, with its lawyers known for their roads, highways, railways, energy and infrastructure specialties. For example, the firm is empanelled by the National Highway Infrastructure Development Corporation, Security Printing and Minting Corporation of India, RailTel Corporation of India, and National Hydropower Corporation. It recently expanded its office space in Bangalore and aims to recruit more for its corporate and disputes groups. Managing partner Ravi Singhania is a respected name in the market. Key contacts include Singhania, senior partners Dipak Rao and Shilpa Shah and disputes partner Vikas Goel. The firm welcomed its new CEO, Varun Jain, from Google.
Client feedback
“They provide thoughtful and creative advice, are very responsive and sharp, and figure out solutions rather than explaining why they can’t do what the business wants to accomplish.” – Corporate and M&A
Ravi Singhania
“Ravi is very thoughtful and a problem-solver.”
Work highlights
Advised Khare & Tarkunde Infrastructure in arbitration proceedings initiated against PWD Maharashtra regarding disputes in their EPC agreements.
AZB & Partners is renowned as one of the top full-service law firms in India with leading practices across every category, including banking, capital markets, corporate and M&A, and private equity. This year, the firm ascends in the rankings for its insurance and pharmaceuticals and life sciences work. The firm’s sterling reputation for M&A and private equity makes it a first port of call for heavyweight international and domestic clients hoping to secure its services for big-ticket deals. The firm comprises more than 90 partners across six pan-India locations. Founding partners Zia Mody, Ajay Bahl and Bahram Vakil are legends in the market for their corporate and finance specialties. Corporate partners Anil Kasturi and Ashwath Rau are two of the most prominent M&A and private equity lawyers in the country. Banking and finance guru Gautam Saha left last summer for TT&A, and corporate partner Shameek Chaudhuri and insurance specialist Arvind Ramesh left later in the year to set up their own firm, Vritti Law Partners.
Work highlights
Advised KKR on its acquisition of 9.99% of Shriram General Insurance Company from Shriram Capital.
Represented Dabur Invest Corp on the sale of equity shares of Aviva Life Insurance Company India to Aviva International Holdings.
Established nine years ago, Ediplis Counsels has its roots in intellectual property. Since then, it has slowly added multiple verticals including general corporate and M&A, insurance, private equity and dispute resolution. Its insurance expertise has gained prominence and the firm moves up a notch in the insurance ranking table. Four senior partners lead the firm: IP specialists Nishant Kewalramani, Ashima Chalia, Vishal Jain, and Aditi Verma Thakur. IP specialist Achal Shekhar joined last spring from Rahul Chaudhry & Partners. The firm has four offices in Bangalore, Mumbai, Delhi and Jaipur.
Client feedback
“Professional approach and timely delivery.” – Intellectual property
“They provide strategy and advice on how to safeguard our trademarks in the most cost-effective way. They are courteous and accessible.” – Intellectual property
“We regard them as a highly experienced and versatile team of lawyers and IP experts. They provide sound and practical advice. They are quite approachable and available for in-depth discussions. Some of their lawyers are connected to us like in-house counsels.” – Intellectual property
Aditi Thakur
“She is very accessible and is ready to simplify complex matters. She is very experienced and provides strategic advice.”
“Problem-solver with transparent communications.”
“An exceptional lawyer, specialising in IP and technology laws, with a remarkable understanding of commercial aspects. Aditi has been providing us with valuable advice on our collaborations with third-party developers. She also has commendable negotiation skills.”
Work highlights
Advised Navi General Insurance in complying with regulatory requirements.
Assisted Zuno General Insurance on negotiating and executing its agreements with vendors.
Acted for Magma HDI General Insurance Company in conducting compliance testing to check the preparedness towards regulatory compliances.
Mulla & Mulla & Craigie Blunt & Caroe is a recognisable name in the market for its curated and specialised shipping practice. Its banking and insurance prowess is also well regarded. The firm, which houses more than 80 fee earners and has offices in Mumbai, Delhi and Bangalore, has expanded into the areas of subsea, oil and gas exploration and pipeline replacement projects. Key partner Shardul Thacker is one of the country’s leading shipping experts.
Client feedback
Shardul Thacker
“He is a knowledgeable, well-known and respected lawyer in the market.”
Work highlights
Represented eight London-based leading reinsurers in defending suit proceedings instituted by two insurance companies, New India Assurance and IFFCO-Tokio General Insurance Company, for underlying claims brought by Essar Steel against the Indian underwriters.
Key clients
New India Assurance, Tata Consumer Products, United India Insurance Company.
Anand and Anand stands tall as one of the most highly esteemed IP law firms in the country. This year it celebrates an incredible 100 years since its establishment in the summer of 1923. Managing partner Pravin Anand is the go-to name for high-stakes IP litigations, particularly on the patent side. The firm offers the entire spectrum of IP services, from trademark and patent prosecution to its famed litigations. A notable evolution was the collaboration between its western India practice and Naik Naik & Co to form “Anand and Naik” for a market-leading media and entertainment practice.
The overall filing of patents at the firm is up by 25% compared to the national average of 8%. The firm won 116 lawsuits in 2022. Key partners at the firm are Pravin Anand, Safir Anand, Dhruv Anand, Archana Shanker and Vaishali Mittal. A coup for the firm’s launch of its new digital group was its recent hiring of Dr. Ajai Garg, who was a former senior director in the Ministry of Electronics & Information Technology. The firm also welcomed consultant Ajai Goel from MeitY to act as one of the heads of the digital group.
Client feedback
“The firm’s advice is quite concrete and accurate. It has a vast experience of legal matters for Japanese companies, and we have been satisfied with their advice every time.” – Intellectual property
“We appreciate their professionalism, practical business-oriented outlook, timeliness and research-based advice.” – Intellectual property
Dhruv Anand
“He always focuses on the interest of clients to provide the best solutions.”
Pravin Anand
“He has a professional and business-oriented approach, and has great knowledge of copyright.”
Work highlights
Represented Bollywood actor Amitabh Bachchan on protecting his personality rights. The order for this case will go a great way in setting precedent against unauthorised commercial exploitation of an individual’s persona.
Intellectual property specialist firm Ashwathh Legal was founded in late 2020 by a group of seasoned IP experts. The offering spans trademarks, copyright, patents, designs and customs to investigations, enforcement and dispute resolution. The firm also advises on data privacy and protection, content protection and anti-piracy, white-collar crime and trade regulatory. Managing partner Prabhu Tandon leads a group of veteran professionals, including director of investigations and enforcement Ivneet Singh and partners Lalima Tandon, Kripa Pandit and Kanika Aeri. The team was bolstered by the arrivals of associate partners Ranjit Chadha and Navreet Kaur from Panasonic and Saikrishna & Associates, respectively. Chadha will focus on corporate and commercial matters, while Kaur is an IP specialist. The firm enjoyed a number of new client wins, including Lava International, Bina Fashions n Foods, Sugar Box Networks, Nivea India, Godfrey Philips India and EaseMyTrip.
Work highlights
Advised Bina Fashions and Bina Modi in a trademark infringement suit against a café and restaurant group.
Advised Dabur in a case of disparagement filed by Zydus Wellness against an advertisement run by Dabur India for their brand and product GlucoPlus-C.
Represented Godfrey Philips in a suit against Rudra Ventures to restrain the user of its trade-dress.
Established nine years ago, Ediplis Counsels has its roots in intellectual property. Since then, it has slowly added multiple verticals including general corporate and M&A, insurance, private equity and dispute resolution. Its insurance expertise has gained prominence and the firm moves up a notch in the insurance ranking table. Four senior partners lead the firm: IP specialists Nishant Kewalramani, Ashima Chalia, Vishal Jain, and Aditi Verma Thakur. IP specialist Achal Shekhar joined last spring from Rahul Chaudhry & Partners. The firm has four offices in Bangalore, Mumbai, Delhi and Jaipur.
Client feedback
“Professional approach and timely delivery.” – Intellectual property
“They provide strategy and advice on how to safeguard our trademarks in the most cost-effective way. They are courteous and accessible.” – Intellectual property
“We regard them as a highly experienced and versatile team of lawyers and IP experts. They provide sound and practical advice. They are quite approachable and available for in-depth discussions. Some of their lawyers are connected to us like in-house counsels.” – Intellectual property
Aditi Thakur
“She is very accessible and is ready to simplify complex matters. She is very experienced and provides strategic advice.”
“Problem-solver with transparent communications.”
“An exceptional lawyer, specialising in IP and technology laws, with a remarkable understanding of commercial aspects. Aditi has been providing us with valuable advice on our collaborations with third-party developers. She also has commendable negotiation skills.”
Work highlights
Provided enforcement advisory for Shenzhen Reolink Technology against a squatter in India.
Acted for Delightful Gourmet Private on enforcement actions against conflicting marks.
Key clients
Chumbak Design, GOAT Brand Labs, Tricog Health, Unacademy.
Eshwars is a boutique firm based in Chennai that focuses on IP, corporate and commercial advisory, and dispute resolution. On the IP side, its specialties include trademark, copyright, industrial design, patent, semiconductor layout, domain name protection, and distribution and franchising. It has also assisted domestic businesses in their outbound ventures into the US, Middle East and China, for example. It has offices in Bangalore, Hosur and Kerala. Managing partner Eshwar Sabapathy and partner NV Saisunder lead the firm.
Client feedback
“Very prompt in their responses, which are always delivered with clarity and precision.” – Intellectual property
Eshwar Sabapathy
“He pays strong attention to detail, is a good listener and provides the correct solution to the problem at hand.”
Work highlights
Represented Refex Industries in a trade name dispute it initiated against a hotel company.
Assisted Lucas TVS on filing applications for comprehensive IP rights protection and strengthening its portfolio.
Key clients
Expleo Solutions, SMOAD Networks, TVS Electronics.
IP boutique Fidus Law Chambers is led by five partners, including managing partner Shwetasree Majumder. All leaders are IP litigation specialists and peers have recognised its growing prominence in the contentious space. Its litigation prowess pertains to trademarks, designs, copyright, patent, trade secrets and geographical indication. It assists clients in civil as well as criminal proceedings in courts across the country. In addition to handling court matters, the firm offers the full range of IP prosecution and commercial services. The GSK Group has consolidated much of its India IP work with the firm. In the past few years, the firm featured in several landmark cases such as Snapdeal v. Amway India, GSK Consumer Healthcare v. EG Pharmaceuticals and Steelbird Hi-tech India v. Asia Fibre Glass Products. The firm launched a pro bono arm in 2020 named ProFidus.
Client feedback
“Quick, efficient and cost-effective.” – Intellectual property
Shwetasree Majumder
“She is smart, innovative and honest.”
Work highlights
Defended Phillips 66 Company against a passing off suit filed by Raaj Unocan Lubricants.
Successfully represented Snapdeal against 28 defendants who had registered domain names with “snapdeal” in them and using them for phishing purposes.
Acted for Century 21 Real Estate and helped it win a permanent injunction in respect of its trademark “Century 21” against another company that was using the trademark in its business name.
Key clients
FDC, Khadi and Village Industries Commission, Sotkon SP SLU, Sporta Technologies, USV Private
Fox Mandal has a full-service offering and is best known for its real estate and IP practices. It has been busy building up its client portfolio in the healthcare, retail, IT and real estate sectors. Its corporate and M&A practice continues to gain traction on larger matters and it moves up a notch in the M&A table. On the IP side, the firm has been honing its focus on startup players, even offering pro bono advice as their clients work their way up. Key figures for real estate and IP are, respectively, partners Purnima Kamble and Santosh Vikram Singh. Managing partner Shuva Mandal, who is active on numerous transactions and disputes matters, is a respected figure in the market. Corporate specialist Rohan Singh joined the M&A team from Trilegal last autumn.
Client feedback
“Very responsive.” – Construction
“They are time-sensitive and discharge their obligations as per schedule. They have a team of legal professionals who look for perfection in their work and protect their clients’ interests in litigation.”– Dispute resolution
“They are commercially aware and technically skilled.” – Intellectual property
Apurupa Gundu
“Quick to understand the details shared and raises appropriate queries to fill the gaps.”
Santosh Singh
“He's knowledgeable and commercially astute, a winning combination.”
Rajesh Vellakkat
“Very communicative.”
Work highlights
Assisted Better Life Chennai on IP due diligence for its acquisition of a business under the trademark Dr. Bubbles.
Represented Sankara Eye Hospital in registering and licensing its intraocular lens design.
Key clients
Drums Food International, KPIT International, Luthra Group of Companies, Pustaka Digital Media.
Inttl Advocare is a highly respected intellectual property boutique, famed for its contentious practice. Founder and managing partner Hemant Singh is regaled by industry insiders as one of the best IP litigators in the market. The firm is based in New Delhi with a branch office in Mumbai. Singh has handled thousands of IP litigation cases on trademarks, copyrights, industrial designs and patents. The firm is also experienced in providing IP rights prosecution and enforcement in India. Senior partner Mamta Jha is another key contact and the firm promoted Manish Mishra to associate partner.
Client feedback
“They are business enablers and solution oriented. They provide quick relevant advice, and most importantly act as an extension of the in-house counsel as a pillar of support in the most dire situations.” – Intellectual property
“I appreciate they give prompt responses and an accurate analysis of the matter. They provide appropriate advice to solve the matter in the professional fields of trademarks.” – Intellectual property
Mamta Bhadu
“As being in charge of the trademark dispute case currently handled, she responses succinctly and provides appropriate advice.”
Mamta Rani Jha
“Exceptional pool of knowledge and attention to detail.”
Work highlights
Advising TTK Prestige in a case pertaining to the infringement of the client’s registered trademark and its logo. The defendant, Hiveloop Technology, was posting unauthorised advertisements for the sale of products bearing the client’s trademark on Hiveloop’s website. This matter’s landmark judgment will protect the sale of non-genuine products on online marketplace.
Representing Societe des Produits Nestlé in a case concerning the sale and distribution of counterfeit Maggi 2- Minute Noodles.
Engaged by Legrand France in a case pertaining to use of a trademark “LIGUARD” for miniature-circuit-breakers being deceptively similar to the client’s trademark of “LEGRAND”.
Key clients
Eaton Intelligent Power, Fena Private, Nimil KK, Novartis, Zee Entertainment
IP boutique InventIP Legal Services is led by partners Rahul Parmar and Ankush Bedi, and it specialises in IP strategy and performing IP audits. It also provides core IP prosecution handling of trademarks, patents and designs. Its client base straddles MNCs, startups, SMEs, individual inventors, and universities and research institutes. Three of the top five IT company patent filers are clients and the team drafted more than 500 patents over the last three years, prosecuting more than 1,000.
Work highlights
Advised Cloudphysician Healthcare on their technology IPR work.
Engaged by HCL Technologies to draft and file its patent applications related to computer sciences and software.
Assisted L&T Technology Services to draft and file an application for its invention.
Jupiter Law Partners is a full-service law firm with a specialty in intellectual property law. The lawyers forming the IP and IT team cumulatively have over 80 years of experience and are highly adept at all issues pertaining to trademarks, patents, designs and copyright. The firm specialises in banking, retail, automobile, heavy vehicle industry, real estate, sporting goods, and fashion and luxury sectors. Co-founding partner Meera Chature is the main contact.
Client feedback
“They are very professional, efficient and experienced.” – Intellectual property
“They respond fast to inquiries, and provide excellent feedback and suggestions for solutions.” – Intellectual property
“They are proactive in searching for solutions and maintain excellent management of client relationships. They have excellent communication skills to anticipate all issues that could possibly arise, with proposals of solutions, for us to make a clear choice.” – Intellectual property
“They provide quick and reliable advice. They advise us directly to the point of the problem.” – Intellectual property
Meera Chature Sankhari
“Quick, reliable, very friendly, and on point.”
“Friendly and quick to respond.”
“Extremely professional and knowledgeable.”
“Meera knows to ask the right questions to offer the best solution for her client. She is a good listener, and therefore a very good adviser. She will not hesitate to make proposals where needed. Working with her is easy!”
Work highlights
Acted for a global spiritual organisation non-profit on safeguarding its registered trademarks against non-use cancellation in China.
Filed 64 trademark applications for a leading multinational corporation operating in the education and healthcare sectors.
Assisted in contesting a trademark opposition for the world’s largest tractor and agricultural vehicles manufacturer.
Khurana & Khurana’s most prominent vertical is its intellectual property offering. It also covers corporate and commercial, banking, labour, real estate and tax law, and debuts in several of these rankings tables this year. The firm employs more than 200 professionals across its 10 offices in India, seven in southeast Asia, and two branch offices in the UAE and the US. The firm is proud of its top-tier status as being the number one PCT filer from India over the past three years. The firm welcomed 10 new associates to add further bench strength to its IP and real estate teams. Managing partner Vinod Khurana, and partners Tarun Khurana, Abhishek Pandurangi and Vinod Khurana are key contacts.
Work highlights
Handled numerous patent prosecution matters for Daimler, Reliance Jio, Accenture, Panasonic and Huawei, among others.
Defending diamond company DBC Corporation in patent and copyright litigations against Sarine.
Mid-sized firm Krishnamurthy & Co offers full corporate and commercial transactional services. It is best known for its intellectual property practice, but has corporate and M&A and private equity practices that are growing in prominence. This year the firm advances up the infrastructure and dispute resolution ranking tables. The firm boasts a roster of elite clients. Senior partner Nikhil Krishnamurthy chairs the intellectual property department and he is a key contact. Other leaders at the firm include founding partner Naina Krishnamurthy, managing partner Shwetambari Rao, senior partners Ayush Agarwala and Rashmi Deshpande, and partner Rukmini Roychowdhury. Dispute specialist Aditi Mittal departed for Kochhar & Co in December.
Client feedback
“We value the team’s knowledge of the subject matter, speed of response, turnaround times and attention to detail.” – Corporate and M&A
Shwetambari Rao
“Extremely quick responses, attention to detail, fast turnaround of docs, quality of response, thorough, solution-oriented and innovative.”
Work highlights
Represented Peel-Works against the proprietor of GTS Bullet Rice over an ex-parte order of injunction on the ground that selling GTS products on its mobile app would infringe on its trademark and copyright.
Advised Exicom Tele-Systems on patenting various technological innovations in the field of battery management systems across various jurisdictions including India.
Best known in the market for its leading tax and IP practices, Lakshmikumaran & Sridharan also provides in-depth advisory and representation in competition, corporate, real estate, and restructuring and insolvency matters. It has 13 offices across 11 cities and opened a new office in Kochi two years ago. For IP, the firm ascends into the top tier. It is famed for its contentious patent know-how, where the subject matter requires deep and detailed knowledge. The firm is a market leader in plant genomics and plant variety protection. The firm’s robust and historical tax practice specialises in GST, income tax, customs and litigation. The firm’s key contacts are IP practice head Malathi Lakshmikumaran, who is a specialist in the biotechnology, chemistry and pharmaceuticals sectors. Managing partner V Lakshmikumaran is a go-to name for tax matters. Notable clients in the arbitration practice area occupy the steel, power, consumer goods, hospitality and tourism, and infrastructure sectors.
Work highlights
Advised DS Biopharma as the appellant in an appeal against the refusal order of the Indian Patent Office.
Literati Juris is a full-service intellectual property boutique firm. With four offices across India, Mumbai, Vadodara, Ahmedabad and Delhi, the firm has a team comprising lawyers, patent agents, investigators, data analysts and forensic experts. Its coverage includes TMT, sports & gaming law, cyberlaws, data protection & privacy, and IPR investigations and raids. The key partners and firm founders are TMT specialist Rahul Dhote, and technology and health sciences specialist Ragini Shah.
Client feedback
“The strength of the firm is in its service and client satisfaction. The firm is highly motivated, committed and devoted to their clients.” – Intellectual property
“Responsiveness and clarity on deliverables were the most positive attributes about this firm. They do patent drafting very well.” – Intellectual property
Ragini Shah
“Ragini's strength is the commercial and legal strategy. Her client care is excellent and her integrity is unparalleled in the legal profession.”
“Clarity in communication.”
Work highlights
Successfully represented Bajaj Electricals in the Bombay High Court in relation to a trademark infringement suit against Urban Foodmart India. The client’s well-known mark was upheld and protected by the court in a final judgement.
Defended Young India Impex and helped it obtain a decision from the Bombay High Court that vacated ex parte orders granted to the plaintiff company.
Dispute resolution firm Mansukhlal Hiralal & Co was established over 110 years ago and has offices in Mumbai and Delhi. In addition to a full array of transactional practices, the firm is known for handling the complete spectrum of contentious work from civil and criminal litigations up to the Supreme Court to international arbitrations. The Securities and Exchange Board of India is a key client, trusting the firm for many of its litigations. Managing partner Rajendra Shah, commercial disputes partner Bhushan Shah and real estate disputes specialist Purvi Asher are the firm’s key contacts. The firm moves up a notch in the real estate rankings this year and it was empanelled with the Oil and Natural Gas Corporation for dispute resolution advice.
Work highlights
Advising Travel Blue in a design infringement suit.
IP-focused firm Mason & Associates was established in 2006 and it is recognised in the market for its copyright expertise. It has branched out to specialise in IT and internet law as well, and this year it scales up a notch in the media and entertainment ranking. The firm has offices in Delhi and Hyderabad and is acknowledged for its innovative work in cyber issues such as those relating to e-commerce platforms, search engines, internet-based platforms and applications. Founder and managing partner Neel Mason is the main contact. He is the vice president of the India chapter of the International Association for the Protection of Intellectual Property. This year, the firm welcomed of counsel Ekta Sharma and four new associates.
Work highlights
Represented B9 Beverages SPRL in various matters including trademark filings, sending out cease and desist notices and advising on oppositions.
Acted for Phonographic Digital in various content acquisition deals.
Key clients
Everest Industries, Snapdeal, Thomas Cook India.
Boutique law firm NovoJuris Legal specialises in private equity work, while its intellectual property and M&A offerings continue to gain momentum. In the past six years, the team – led by two partners – has executed more than 270 private equity-related transactions for both investor and company clients. According to Venture Intelligence reports, the firm is among India’s 15th most active legal counsellors in the M&A space. The firm has four mainstays of expertise: Indian startups going the IPO route, alternative investment funds, externalisations and internalisations of entities, and business digital transformations. Founder Sharda Balaji and partner Ashwin Bhat are the key contacts.
Work highlights
Created a comprehensive trademark portfolio for Myelin Foundry that provides holistic brand protection.
Engaged by Chatpay Commerce to file and register its trademark.
Key clients
Datri Blood Stem Cell Donors Registry, Hypernova Interactive Technology, Poshmark India, RMVM Solutions.
Obhan & Associates is a four-partner firm with strengths in corporate and M&A, IP, and media and entertainment. The corporate practice specialises in joint ventures, acquisitions, FDI, and regulatory compliance and contracts, among others, and its private equity workflow is steadily increasing. It has an impressive client roster of international publishers and media houses. The firm moves up a tier in the media and entertainment table. As data protection and GDPR compliance take centre stage for many corporates, the firm has been active advising clients on this front. Senior partner Ashima Obhan is the main contact for corporate and media matters, while managing partner Essenese Obhan is the contact for IP, and technology and telecommunications.
Client feedback
Ashima Obhan
“She takes a very professional approach.”
Work highlights
Advised Huntsman Advanced Materials against Jay Chemical Industries in a patent infringement lawsuit before the Delhi High Court and was successful in securing an injunction.
Defending Pine Labs against plaintiff Innoviti Payment Solutions before the Karnataka High Court in relation to a patent infringement suit.
Key clients
Aditya Birla Science & Technology, G4S, HarperCollins Publishers, Tata Chemicals, TechSmith Corporation.
Rahul Chaudhry & Partners is an IP specialist firm and its experience stretches back four decades – it was first known as Lall Lahiri & Salhotra. The team spans two offices and comprises 68 lawyers and 15 partners. The litigation team has represented a wide range of rights-holders from across the globe in multiple industries. The anti-counterfeit and enforcement team is also highly active. The disputes team has handled more than 1,000 cases and claims a success rate of 95%. The key contacts for contentious IP are managing partner Rahul Chaudhry, founding partner Anuradha Salhotra and senior partner and trademarks expert Veena Poolakal.
Work highlights
Assisted the US Green Building Council against the Deming Certification Services over trademark infringement.
Advised Scholl’s Wellness Company in a suit for the infringement of trademark and trade dress in relation to the mark Krack.
Key clients
Aiwa, Bennett Coleman, Foot Locker, Hero Investcorp
Remfry & Sagar has been a leading IP firm for nearly two centuries, having been established in 1827. It consistently ranks in the top tier for both non-contentious and contentious trademark and patent work. With over 115 experienced lawyers and 150 professional staff, it’s no surprise the firm wins nearly 20% of all inbound IP work from clients of the highest calibre. It has more than 8000 active clients spread out across more than 70 countries. The firm opened its fourth office in Mumbai in April 2021 to complement its existing locations in Gurugram, Bengaluru and Chennai. Managing partner Ashwin Julka and partners Brijesh CA, Shukadey Khuraijam, Swarup Kumar, Samta Mehra, and Mohini V are just a few to note from the 18-strong leadership team.
Work highlights
Represented plaintiff Mohan Meakin in a trademark dispute with HG Brewers relating to the “Old Monk” mark.
Acted for United Spirits in a trademark litigation against Som Fragrances.
Engaged by plaintiff Xiaomi Technology India in its infringement suit of several infringing websites that claimed to be authorised websites of the client.
Key clients
International House of Pancakes, Lakshmi Life Sciences, Organ Needle Company, Procter & Gamble, Shyam Sel and Power
IP specialist firm RK Dewan & Co has a competitive edge in the pharmaceuticals and life sciences sector and this year moves up into the top tier of the rankings. The 175-strong firm – where women comprise 60% of the team – has been active in the IP field for more than 80 years and boasts a strong domestic client base, with over 70% of its work being for onshore companies. The firm has more than 5,000 clients from around the globe. It has a liaison office in Dallas, US and celebrated the three-year anniversary of its China office in Dalian, which has been instrumental in generating a growing roster of loyal Chinese clients. Key contacts are principal Mohan Dewan and head of patent Niti Dewan. The team welcomed four senior lawyers this year, including patents engineering team leader Deepak Singh and senior litigator Anju Agrawal.
Work highlights
Assisted the Emerson Group in trademarks anti-counterfeit investigations and raids across multiple jurisdictions.
Engaged by Sandvik, a Swedish engineering company, to file and prosecute over 50 patent applications.
Key clients
Cooper, Eduspark International, Finolex Cables, Kao, Manik Engineers, Parle Products, VFS Global Services, Xiaomi.
RNA Technology & IP Attorneys was founded in 2004 by managing partner Ranjan Narula. The firm’s reputation has escalated in recent years, with many in the market acknowledging the firm’s strong work at the intersection of IP and technology. It is a full-service IP specialist firm now, though it started out focusing mainly on trademarks. Last year, the firm filed over 200 trademark applications, handled 80 litigations and over 200 oppositions and cancellation matters. The firm additionally manages a portfolio of over 750 patents. In addition to Narula, there are four partners that lead the firm.
Work highlights
Represented Intel in a trademark opposition matter against Maple Cybertech Informatics. The appellate board passed down a favourable order in appeal for the client.
Acted for Spain-based Roca Sanitario in a cancellation action filed against Roma International.
Represented Dr Reddy Laboratories in a suit for permanent injunction related to copyright and trademark infringement against Martin and Brown Bio-Sciences.
Assisted H-D USA in actions taken against nearly 40 parties selling counterfeit goods through e-commerce portals.
Key clients
Adidas, Allergan, AO Smith, Fast Retailing, Guccio Gucci, GlaxoSmithKline, Hitachi, HP, Intel, Mars, Puma, Schindler, Standard Chartered Bank, Swarovski, Yonex
Founded in 1993, S Majumdar & Co is a well-reviewed IP law firm with notable strength on all matters pertaining to patents across a wide spectrum of industries such as technology, engineering, telecoms, software, electronics, chemistry, pharmaceuticals and life sciences. The firm has 22 patent agents and 28 attorneys-at-law. It also has eight patent engineers/analysts. It is present in three cities across the country, namely, Kolkata, New Delhi and Mumbai. Managing partner Subhatosh Majumdar is a highly-regarded IP litigator.
Work highlights
Advised Natco Pharma against Novartis in a pre-grant opposition.
Represented Lakshmi Machine Works in an opposition.
Acted for Exide Industries in a trademark infringement litigation.
Singh & Associates was established in 2002 by Manoj Singh. The full-service law firm is recognised for its corporate and M&A and dispute resolution offerings. Sector experience includes infrastructure, real estate, green energy, power, oil and gas, shipping, mining, manufacturing and transportation. Key contacts are disputes specialist Singh and managing partner Daizy Chawla. The firm moves up in corporate and M&A this year and welcomed corporate partner Neeraj Dubey from Lakshmikumaran & Sridharan. The disputes group experienced an influx of senior level talent from leading peers. Partners Reeta Mishra, Neeraj Dubey, Smita Singh, Jyoti Kumar Chaudhary and Apporve Vashistha joined from Kochhar & Co, Lakshmikumaran & Sridharan, Ashok Dhingra Associates, Hammurabi & Solomon and L&L Partners, respectively.
Client feedback
“They have skilled staff and turnaround time is fast. Their approach is very professional.” – Dispute resolution
“The partners have a good understanding of the not-for-profit position of the organization and the different acts that impact its proposed activities to make the organization more sustainable. They provide clear, to-the-point, professional legal advice and have timely responses.” – Regulatory
“The legal associates we communicated with for these services were extremely thorough and timely in their responses.” – Regulatory
Sunaina Jhingan
“Sunaina demonstrated excellent communication and was very timely in her responses.”
Neha Mittal
“Good communication, responsive, good professional knowledge and patient.”
Manoj Singh
“He has in-depth knowledge of the subject matter.”
Work highlights
Assisting Euro-Apex on the maintenance of its trademark matters and handling of its oppositions.
Acting for Acumass on the drafting and filing of applications seeking renewals, recordal of change in titles, and recordal of a merger in India with regards to several time-pressing trademark matters.
Key clients
Anaqua Services, InsideOut Technologies, Thomson Reuters Foundation
Singh & Singh is a leading intellectual property firm with six partners and three associate partners. The team is known for its contentious IP work, but it also has experience in media and telecoms, arbitration, competition, tax and pharmaceuticals laws. In all those areas, it provides litigation, advisory, regulatory, prosecution and enforcement expertise. The firm is led by partners Sudeep Chatterjee, Bitika Sharma, Saya Choudhary and Ashutosh Kumar. Tejveer Singh Bhatia left to establish his own counsel practice.
Work highlights
Represented Hulm Entertainment as the plaintiff in a copyright infringement case where the defendant launched a similar feature on its existing app and made use of the same elements of the client’s app. This was a first of its kind case involving features in a gaming module wherein the court has granted injunction.
Key clients
Alkem Laboratories, Ericsson, Havells India
Established in 2016, Spice Route Legal is a rising star in the technology and telecommunications space, with one of the largest dedicated fintech and data practices in the country. It has four offices in Mumbai, Bangalore, Delhi and Kochi. The firm is also an active player in the mid-market M&A and private equity segment. The firm houses multiple generalist lawyers who have expertise in technology and telecommunications, media and entertainment, energy and healthcare. Key contacts include founding partners Mathew Chacko and Praveen Raju, who each have spent numerous years practising law outside of India. Their experience is the backbone of the firm’s “border-agnostic” deal perspective. The firm moves up a tier in the private equity and regulatory tables this year.
Work highlights
Represented Milaap in a landmark dispute involving contributory trademark infringement by Google on account of Google AdWords suggesting third-party trademarks as keywords for a trademark search.
Boutique IP specialist firm Sujata Chaudhri IP Attorneys was established in 2014 and is located in Delhi. It has risen in prominence over recent years, with peers acknowledging the team’s activity and presence. It provides services across all areas of IP prosecution, litigation and enforcement. Its clients span a multitude of industries such as fashion, consumer goods, pharmaceuticals and luxury goods. The key contacts are founder Sujata Chaudhri and partner Urfee Roomi.
Work highlights
Assisted Levi Strauss & Co to obtain a declaration of Levi Strauss’ Arcuate stitching design as a well-known trademark.
Helped Glaxo Group obtain relief from the Delhi High Court against trademark infringement activities of an opposite party.
Represented New Balance Athletics to receive a unique dynamic injunction against multiple rogue websites.
Shardul Amarchand Mangaldas & Co has a commanding presence in the market with top-tier practices across all practice areas and industry sectors. It is routinely considered one of the best firms in a highly competitive market for transactions and a first port of call for selective international clients. This year it is boosted into the uppermost category for its pharmaceuticals and life sciences expertise. The firm offers the best of all worlds: large capacity, pan-India presence, depth of expertise and experience, and market-leading professionals. It regularly advises the largest multinationals, Indian conglomerates, and private equity players and funds. The capital markets team continues to represent issuers in many of the country’s largest IPOs and the M&A group remains unmatched for its high-stakes, high-value transactions. Pallavi Shroff is well known for her extensive experience in dispute resolution, and Shardul Shroff is renowned for his expertise as a general corporate lawyer. There were multiple notable movements in the course of the last 12 months.
Client feedback
“Excellent technical knowledge. Sound understanding of market practices and associated risks.” – Banking and finance
“Thorough research, excellent drafting of affidavits and responsive teams. They take ownership of the engagement task and a professional approach.” – Banking and finance
“They have practical positions on legal interpretation and always deliver in a timely fashion.” – Capital markets
“Timeliness, efficiency and expert in the field of competition law.” – Competition/antitrust
“The team understands business, and provides clear advice shorn of unnecessary legalese. They are always looking to solve problems for the business, and they have become trusted advisers over the course of our engagement with them.” – Competition/antitrust
“Excellent, well-rounded team which provides specific and pointed advice.” – Corporate and M&A
“High-quality legal advice, and knowledge of market and regulatory developments.” – Corporate and M&A
“Very responsive and provide clear advice.” – Dispute resolution
“Strong understanding of the market, subject matter and time management.” – Media and entertainment
“Great team that is always available, has high competence and is able to close points.” – Private equity
“SAM has one of the strongest restructuring and insolvency teams which is supplemented by a wide spectrum of expertise that is required to resolve complex restructuring situations. Their experience and network in the region spanning insolvency, corporate law, debt and equity capital markets, regulations and litigation was instrumental in the successful outcome in a number of situations.” – Restructuring and insolvency
Manika Brar
“She has a positive attitude, good communication skills and great domain knowledge.”
Sayantan Dutta
“He has a hands-on approach and takes tough stands when needed.”
Jay Gandhi
“Excellent PE knowledge and personalisation.”
Radhika Indapurkar
“Dedicated, hard-working, good communications, good drafting skills, and excellent domain knowledge.”
Ila Kapoor
“Good team leader. Very responsive and great communications.”
Abhishek Parekh
“Great, well-rounded lawyer. He handled the negotiations and documentation very well.”
Veena Sivaramakrishnan
“We valued her depth of technical knowledge, coupled with a sound understanding of market practice.”
“She’s a top lawyer in restructuring and insolvency in the region with innovative solutions to solve complex, multi-stakeholder restructuring situations. She has an extremely strong ability to solve difficult problems and provide timely recommendations that have proven to be correct on a number of occasions.”
Puja Sondhi
“Great leader who manages situations very well.”
Yaman Verma
“We were very impressed by the ownership taken by Yaman. He provides excellent advice to businesses in a manner that is easy to understand for people with non-legal backgrounds. He is our go-to adviser for new ventures, as he helps us identify and remove potential roadblocks. He has a deep technical understanding of competition law, as well as the commercials of the e-commerce space, which he combines to provide cutting-edge advice.”
Work highlights
Assisted Samara Capital on the establishment of a continuation fund.
Chadha & Co is a mid-sized full-service corporate and commercial law firm based in New Delhi. Its client base spans SMEs to international Fortune 500 companies from all business sectors, such as automotive, food and beverage, and hardware and electronics. A unique offering is that the firm has several foreign desks with Japanese and European staff. Managing partners Rahul Chadha and Namita Chadha, and labour specialist Savita Sarna are key contacts. The firm hired senior-level associates from AZB & Partners and Singhania & Partners last year.
Client feedback
“Great management team who are very professional and highly skilled in their respective fields. They provided our company with suitable and impressive solutions after conducting extensive research.” – Corporate and M&A
Ashish Gupta
“We recommend Ashish for his extensive insight into foreign exchange rules and its applicability, his quick understanding of the scope of work and accordingly providing his knowledge. He has expertise to suit our needs and requirements. Also, he is very easy to talk to.”
Work highlights
Acted for DSM Nutritional Products on the closure of its factory and separation of various direct and indirect factory workers.
Represented STMicroelectronics in multiple litigations initiated by a group of former employees upon their transfer to another organisation on account of closure of the client’s business unit.
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 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 and Yash Ashar. The firm also has a unique bench of retired senior bureaucrats from key Indian regulators, such as the Reserve Bank of India and the Securities and Exchange Board of India, to provide an extra layer of expertise.
The corporate team welcomed three partners from various leading law firms: head of media, education and gaming Aarushi Jain joined from Nishith Desai Associates, Rishiraj Bhatt joined from Kanga & Co and Siddharth Hariani joined from Phoenix Legal. Disputes veteran Gauri Rasgotra left last year to establish her own boutique firm.
Work highlights
Assisted Johnson & Johnson Group on the demerger of its consumer health business that involved the transfer of more than 1,000 employees in India.
India Law Offices is a full-service law firm that was founded in 2003. Headquartered in New Delhi, the firm is present across Mumbai, Bengaluru, Chennai, Hyderabad, Kolkata, Goa, and Pune. It has deep experience in a variety of industry sectors, including aviation, automobile, healthcare, IT, real estate, food and beverage, banking, energy, infrastructure, insurance, media and telecommunications. Corporate specialist and managing partner Gautam Khurana is the main contact at the firm.
Client feedback
“Efficient and provide excellent service.” – Corporate and M&A
“Efficient and professional.” – Corporate and M&A
“They know their job very well.” – Dispute resolution
Abishek Han
“He is responsive and professional.”
Gautam Khurana
“Always gives prompt attention and advice.”
“He is an extremely knowledgeable person.”
Work highlights
Assisted Spanish company Feliu N&I with Foreigners Regional Registration Officer (FRRO) registration for employees in India.
Advised Germany-based Teicon Engineering India on employment contracts and tax rules for its Indian employees.
Engaged by Fincimec India Private, an Italian EPC company, on general labour and tax rules for its local employees.
Kochhar & Co has a pan-India presence and excels in a multitude of practice areas, from dispute resolution to real estate. Its technology and telecommunications practice is lauded as one of the best in the country. Stephen Matthias is a leading technology lawyer who heads the firm’s first-rate team. Managing partner and litigation specialist, Rohit Kochhar is the main contact.
Work highlights
Advised Standard & Poor’s on the move of employees from Evalueserve India to the client.
Assisted Blue Yonder India, as part of a global transaction, on moving its employees to UST Global.
Key clients
Exxon Mobil, Facebook, Marriott Hotels, Oracle, Standard Chartered, Western Digital
Formerly known as PDS Legal, Lumiere Law Partners is a full-service firm that specialises in helping international companies form joint ventures and make entries into India. Its aviation specialty is notable. Managing partner Probal Bhaduri helms the team alongside aviation partner Vihang Virkar. The firm has experienced an uptick in restructuring and insolvency, and labour and employment matters.
Client feedback
“They are very reactive with a good knowledge of India's public and private sector environment. They provide very practical advice and are good at handling crisis management.” – Dispute resolution
Vihang Virkar
“Very responsive, business-minded, and he knows the legal environment well.”
Work highlights
Assisted Index-Werke in relation to the secondment of its employees to its Indian subsidiary.
Acted for Canada Life Assurance Company on its proposed Indian expansion and the restructuring of its employees in India including their transfer.
Majmudar & Partners is a medium-sized, high-quality corporate and financial law firm that excels in corporate and M&A, private equity, and labour and employment areas. On the deal side, the firm is not a volume player as its clients engage the team for sophisticated and complex transactions. Peers acknowledge its labour and employment practice, which is led by Neerav Merchant and Raja Sujith Niruthambath. The firm and its managing partner Akil Hirani are well regarded in the Mumbai market. In the past 12 months, the firm has seen good growth in the non-banking financial corporation sector on regulatory advice, fintech, finance deals and M&A transactions. In addition, banking litigation is growing.
Client feedback
“Professional.” – Corporate and M&A
“Very responsive, timely and detail-oriented. They can bring in SMEs quickly for specific areas when executing a project.” – Corporate and M&A
“They were knowledgeable with India corporate law and advice on corporate structures for M&A activities.” – Corporate and M&A
“They are very efficient and always provide prompt feedback.” – Labour and employment
“Very responsive, very thorough.” – Technology and telecommunications
Rukshad Davar
“Responsive and knowledgeable.”
Akil Hirani
“Very factual, to the point. He’s practical and provides trusted advice.”
“Very responsive, thoughtful, delegates appropriately, and does thorough work.”
Sinjini Majumdar
“He provides very thorough and timely feedback.”
Neerav Merchant
“He is professional.”
Work highlights
Provided employment law advice to LifeWorks in connection with its Indian subsidiary.
Engaged by numerous companies such as FIGmd, Demandbase, Knowcraft Analytics and Ncontracts, for India-related employment law advice.
Phoenix Legal is a full-service firm that is recognised for its banking and finance, infrastructure, insurance, dispute resolution, labour and employment and restructuring and insolvency practices. This year it moves up in the capital markets table. The four co-founding partners are the main contacts: Manjula Chawla, Saket Shukla, Abhishek Saxena and Sawant Singh. Three partners joined last year, including disputes specialists Gaurav Dudeja and Aman Avinav, and projects partner Pallavi Bedi. The latter joined from Luthra and Luthra Law Offices.
Work highlights
Advised the Royal Institute of Chartered Surveyors on its collaboration with Amity University, including strategising on the transfer of employees.
Singhania & Partners is particularly noted by market insiders for its experience in infrastructure-related disputes, with its lawyers known for their roads, highways, railways, energy and infrastructure specialties. For example, the firm is empanelled by the National Highway Infrastructure Development Corporation, Security Printing and Minting Corporation of India, RailTel Corporation of India, and National Hydropower Corporation. It recently expanded its office space in Bangalore and aims to recruit more for its corporate and disputes groups. Managing partner Ravi Singhania is a respected name in the market. Key contacts include Singhania, senior partners Dipak Rao and Shilpa Shah and disputes partner Vikas Goel. The firm welcomed its new CEO, Varun Jain, from Google.
Client feedback
“They provide thoughtful and creative advice, are very responsive and sharp, and figure out solutions rather than explaining why they can’t do what the business wants to accomplish.” – Corporate and M&A
Ravi Singhania
“Ravi is very thoughtful and a problem-solver.”
Engaged by Achieve Cybersecurity Holdings in drafting the bonus pool plan to comply with the parameters given under the foreign exchange management laws.
Tatva Legal Hyderabad is a sizable, full-service firm with offices in Telangana and Andhra Pradesh. Its core pillars are banking and finance, dispute resolution, labour and employment, investment funds, private equity, R&I and real estate. Managing partner Shailendra Komatreddy is the key contact. The firm welcomed corporate specialist Kaushalya Guduru from Avendus Capital and disputes manager Palash Taing from S&A Law Offices in the past year.
Work highlights
Assisted Persolkelly with employment law advisory and general corporate advisory by reviewing and negotiating services agreements and staffing contracts.
Trilegal climbs up in several rankings this year, including infrastructure, insurance, pharmaceuticals and life sciences and real estate. It is quickly becoming a preferred choice for heavyweight clients, an alternative to the famous family firms that inhabit the top echelon of legal services providers. Its TMT practice continues to gain traction as a market leader, and its private equity and investment funds offering is going from strength to strength. The firm’s five-year-old asset management and fund formation practice has rapidly risen to be a power player. The dispute resolution team, led by Shankh Sengupta, has proven its worth with an elite group of litigators acting in high-stakes matters for premier clients.
Work highlights
Advised LyondellBasell in a significant and complex dispute before the Labour Courts under the Maharashtra Recognition of Trade Unions and Prevention of Unfair Labour Practices Act.
Full-service law firm ANM Global was founded in 2009 and has offices in New Delhi, Mumbai, Bengaluru and Chennai. Best known for its premier media and entertainment expertise, the teams also routinely work on corporate, finance and disputes matters across a variety of industries. These include technology, power, insurance, real estate, pharmaceuticals and transportation. Founder and managing partner Nidhish Mehrotra helms a team of 11 partners. Last year, the firm welcomed litigation partner Hemangi Abhyankar from JSA, IP partner Punit Jani and associate partner Sudisha Mukherji.
Work highlights
Successfully defended Zee Entertainment Enterprises and director Vivek Agnihotri in a public interest litigation filed against the release of the film “The Kashmir Files”.
Advised Applause Entertainment on its partnership with a leading domestic publisher of Indian comics and graphic novels to develop and produce animated content.
Represented Salim Merchant and Sulaiman Merchant on their collaboration with Non-Fungible Tokens (NFT) marketplace Colexion to launch exclusive NFTs on its platform.
Key clients
Endemol India, Gravity Zero, Liongsgate Play, Phonographic Ditigal
Full-service firm DSK Legal has enjoyed the fruits of its expansion last summer, climbing up in the rankings across a number of areas such as capital markets, IP and pharmaceuticals and life sciences. After the seismic shift of adding more than 60 new lawyers, most from Luthra and Luthra Law Offices, the firm continued to build out its teams. It welcomed corporate and finance specialists Srinivas BR, Siddharth Suresh and Karan Ajitsaria from Dua Associates. M&A expert Kunal Mehra, and disputes partners Prashant Mishra, Prashant Pakhiddey and Saleem Hasan Ansari, followed former colleagues over from Luthra and Luthra Law Offices, while R&I consultant Sanjeev Pandey joined from the State Bank of India.
Under the guidance of top-flight real estate partner Sajit Suvarna, the firm’s real estate offering is regarded as one of the strongest in Mumbai. With an added capacity on the corporate side from recent additions, the firm posted a strong showing by closing over 50 sizeable M&A deals. The firm’s specialised media and entertainment department is well received by the market. It boasts many A-list Bollywood film stars as clients, along with local and international media houses and platforms like Disney and Star India. Key contact and managing partner Anand Desai is a venerable figure in the legal industry for banking and finance, corporate and M&A, disputes, and media and entertainment. Deputy managing partner Suvarna is a banking and real estate specialist.
Client feedback
“Prompt responses.” – Banking and finance
“Professional service, timely deliverables and focused approach.” – Corporate and M&A
“Lawyers are process driven, courteous and knowledgeable.” – Corporate and M&A
“The team had a pragmatic approach, short response times and was in general very supportive.” – Corporate and M&A
“They took a resolution approach.” – Dispute resolution
“Lawyers have a thorough understanding of the matter, diligence and responsiveness. They take off the client the worries of what needs to be done in the matter.” – Dispute resolution
“They provide speedy, to-the-point advice and a willingness to clarify all issues asked. They are very knowledgeable on Indian labour laws and give practical advice that works.” – Labour and employment
“They are aware of recent changes and help close issues without unnecessary technicalities” – Media and entertainment
Rishi Anand
“He is approachable.”
Roochi Loona
“Prompt responses and good working knowledge of the law.”
Gaurav Mistry
“Knowledgeable, friendly and professional.”
Vikrant Singh Negi
“Always prepared and proactive with solutions.”
Dinesh Pardasani
“He is very diligent, accessible and hard-working for the task assigned.”
Ajay Shaw
“He takes a focused and balanced approach.”
Suyash Srivatava
“Sharpness in thought, and clarity and speed in advice.
Work highlights
Successfully represented Salman Khan in a transfer petition case in relation to deer hunting.
Assisted Allu Arjun on his brand endorsement deals with Coca-Cola, Astral Pipes and Redbus.
Key clients
India Today Group, Matrix Entertainment, Mumbai City FC, Producers Guild of India, Qyou Media, Uniworld
IndusLaw is a modern full-service firm that is rapidly coming up the ranks as a challenger to the established order of top legacy firms. This year, it moves up a notch in the real estate rankings and expanded by opening a new office in Gurugram. In total, the pan-India coverage includes offices in Bangalore, Chennai, Delhi, Hyderabad, Mumbai and the aforementioned Gurugram. The firm takes pride in its growing prominence among sophisticated clients for its private equity and TMT work. It specialises in working with investors across the full funding lifecycle and on a variety of funds including sector-specific ones such as technology, life sciences, e-commerce, retail and infrastructure. The capital markets team remains active, securing some of this year’s largest mandates for both issuers and bookrunners on more than 24 transactions. While maintaining a secure foothold at the forefront of ECM work, it is busy diversifying its suite of experience into newer products such as SPACs and business trusts, block deals and debt capital markets work.
There were several noteworthy inflows and outflows of talent this year. Banking partner Ashutosh Narang joined from Luthra and Luthra Law Offices last October. Corporate specialists Amrit Mehta and Shantanu Jindel joined from Majmudar & Partners and JSA, respectively, while partners Anubha Sital and Divya Varghese departed for in-house roles. On the disputes side, partners Maneesha Kongovi and Sourasubha Ghosh arrived from Argus Partners and Hariani & Co, respectively.
Client feedback
“The team are go-getters, always there to work on challenging assignments, and provide clarity on strategy in litigations. It helps us achieve the desired results” – Banking and finance
“Prompt client service, and accuracy in legal representation and advisory.” – Banking and finance
“Their legal expertise is top-notch and add to that the constant availability of folks to resolve any sudden issues that might arise makes them a perfect partner for any startup.” – Corporate and M&A
“The team is excellent. Litigation is the core area and very efficient. We are satisfied with their performance. Cost-wise, they also are very reasonable.” – Dispute resolution
“Solution-oriented, understands the clients’ needs very quickly, and provides well-thought resolutions.” – Dispute resolution
“Proactive, knowledgeable, good negotiators, and has good command on the subject.” – Investment funds
“We recommend them for their ability to understand business and define the solution from multiple angles; the availability of the team; their turnaround time; the involvement of senior partners in brainstorming and solutioning; and the ease of working with other ecosystem partners.” – Media and entertainment
“They are highly responsive and in touch with the local market. It is very hard to stay on top of the latest trends in legal terms from afar. They have an eye toward ensuring that appropriate and proper legal protections are in place, with a commercial sensibility to finding compromise.” – Private equity
“Great advice, super-responsive, creative problem-solvers, and a collaborative team.” – Private equity
“Interesting, practical and give timely insights.” – Private equity
“Proactive and knowledgeable teams across both practices.” – Private equity
“Very client-centric, highly available, responsive and caring. They have a long-term focus, not transaction focus.” – Private equity
“Sensitive to client needs, approachable and provide holistic advice.” – Private equity
“The team understands client objectives and priorities, and as a result gives us the specific advice we need.” – Private equity
“We appreciate their attention to detail, sector-specific knowledge in the areas we invest, deep knowledge about our positions in investments, and very personable and committed team.” – Private equity
Ranjana Adhikari
“She is very positive and has good domain knowledge. She shows a good balance of risk management and business solutioning, and has a great ability to bring in specialists as and when needed.”
Unnati Agrawal
“Goes out of her way to devise a solution. She has very good domain knowledge and communication skills.”
Aakash Dasgupta
“Excellent communication and expertise.”
Mayukh Dutta
“Very collaborative, founder-first attitude. Also he is approachable, personable, down-to-earth and solution-oriented.”
Sushmita Gandhi
“She is always there for any assignment and helps us in complex assignments. She has a positive approach to any issue at hand and has clarity of thought for devising suitable strategies to deal with such issues. The insights and advice provided by Ms. Sushmita has been quite helpful in overcoming the challenges faced in transactions and litigations.”
“Friendly, prompt, intelligent and articulate.”
“Very effective and quick.”
Anindya Ghosh
“Anindya has great legal expertise and is always available to guide us on any issues where his expertise is needed.”
“His industry knowledge is excellent. Anindya is very solution-oriented while being able to keep our interests in mind as well as the general regulatory landscape. He is very easy to interact with and personable, and he is always available when we need him.”
“Very focused on solutions to move things along. Diligent, knowledgeable, affable and pleasant to work with. He takes time out to explain things and always kept our best interests in mind. He is a fair negotiator.”
Amit Jajoo
“Extremely meticulous and solution-oriented.”
Pallavi Kanakagiri
“She is very knowledgeable about legal implications and is very good at applying this to our specific concerns.”
Winnie Shekhar
“Always available. Incredibly responsive. Works to advocate on behalf of clients, while finding a middle-ground and reasonable approach to meeting points of dispute. Creative in thinking.”
“Combines a sharp eye on legal issues with a commercial sensibility to getting a deal across the line. Provides useful and practical advice. Not overly aggressive but a good advocate for our positions.”
“Knowledgeable and responsive.”
Work highlights
Advised social media unicorn, Mohalla Tech, in its strategic acquisition of short video application ‘MX TakaTak’ from MX Media.
A unique firm in the market, Krida Legal is a boutique that specialises in sports and gaming law. Its key pillars are corporate and M&A, dispute resolution and IP. It was founded in 2014 and is led by Vidushpat Singhania, a long-time trusted legal counsel by many of the country’s various sporting boards and associations. For example, the firm is a member of the regulatory commission of the Indian Super League, Sportscom’s managing committee, the legal committee of the All India Gaming Federation, the E-Gaming Federation and the election oversight panel of World Athletics, among many others. Last summer the firm welcomed senior associate Nachiket Yagnik, who had prior experience at DSK Legal.
Work highlights
Represented athlete Manika Batra in the High Court against the International Table Tennis Federation over allegations of illegal match manipulations and corruption.
Assisted AMPM Fashions with strategic advice and drafting legal documents in relation to an investment from Cactus AIF.
Defended athlete Vijay Singh before the anti-doping disciplinary panel and anti-doping appeal panel with regards to allegations of a presence of a prohibited substance in the client’s body. This case was the first ever in itself wherein an adverse analytical finding’s validity stood cancelled at its outset due to the sample not belonging to the concerned athlete. This was also the first ever case wherein an athlete invoked his right under an article of the country’s anti-doping rules to seek DNA testing of their sample.
Key clients
Baazi Networks, Golden Gaming International, Grid Logic Games, Uttar Pradesh State Rifle Association.
Naik Naik & Co basks in its reputation as one of the foremost specialist firms for media and entertainment matters. It homes one of the largest dedicated teams in the country to this growing industry and is well regarded for the range of services it offers, such as media convergence, Internet of Things and content-related issues for digital and OTT broadcasting platforms. This year the firm moves up in the corporate and M&A table. It formed a unique alliance with IP behemoth Anand and Anand to cover IP litigation in western India. Founder and managing partner Ameet Naik is recognised by the market as one of the premier experts in the media and entertainment practice area. He is supported by partners Bharat Sharma, Abhishek Kale and Madhu Gadodia. This year the firm welcomed no less than 13 new fee-earners for its non-contentious media practice.
Client feedback
“They are approachable and client-friendly.” – Dispute resolution
“Naik Naik & Co understands the client's requirements well and strategises accordingly. They are accessible and have a team with relevant experience.” – Dispute resolution
Abhishek Kale
“He is client-friendly, responsive and does the work.”
Work highlights
Represented Amitabh Bachchan at the Supreme Court of India to safeguard his personality rights, including the right to privacy and publicity.
Acted for Arha Media and Broadcasting as the plaintiff in instituting a John Doe suit for safeguarding its interests and rights in respect of the original produced web talk-show titled “Unstoppable” featuring Nandamuri Balakrishna as host, which is streamed via its OTT platform, Aha.
Advised the defendants, as authors of the book Mafia Queens of Mumbai before the City Civil Court, Bombay High Court and Supreme Court against claims from stay of sale of books and the film.
Key clients
Denzong Breweries, Offroad Films, Runaya Metsource.
Obhan & Associates is a four-partner firm with strengths in corporate and M&A, IP, and media and entertainment. The corporate practice specialises in joint ventures, acquisitions, FDI, and regulatory compliance and contracts, among others, and its private equity workflow is steadily increasing. It has an impressive client roster of international publishers and media houses. The firm moves up a tier in the media and entertainment table. As data protection and GDPR compliance take centre stage for many corporates, the firm has been active advising clients on this front. Senior partner Ashima Obhan is the main contact for corporate and media matters, while managing partner Essenese Obhan is the contact for IP, and technology and telecommunications.
Client feedback
Ashima Obhan
“She takes a very professional approach.”
Work highlights
Engaged by HarperCollins Publishers to conduct a legal review of Ratan Naval Tata's authorised biography.
Represented Behno India during negotiations for a campaign with a famous Bollywood actress.
Full-service firm DSK Legal has enjoyed the fruits of its expansion last summer, climbing up in the rankings across a number of areas such as capital markets, IP and pharmaceuticals and life sciences. After the seismic shift of adding more than 60 new lawyers, most from Luthra and Luthra Law Offices, the firm continued to build out its teams. It welcomed corporate and finance specialists Srinivas BR, Siddharth Suresh and Karan Ajitsaria from Dua Associates. M&A expert Kunal Mehra, and disputes partners Prashant Mishra, Prashant Pakhiddey and Saleem Hasan Ansari, followed former colleagues over from Luthra and Luthra Law Offices, while R&I consultant Sanjeev Pandey joined from the State Bank of India.
Under the guidance of top-flight real estate partner Sajit Suvarna, the firm’s real estate offering is regarded as one of the strongest in Mumbai. With an added capacity on the corporate side from recent additions, the firm posted a strong showing by closing over 50 sizeable M&A deals. The firm’s specialised media and entertainment department is well received by the market. It boasts many A-list Bollywood film stars as clients, along with local and international media houses and platforms like Disney and Star India. Key contact and managing partner Anand Desai is a venerable figure in the legal industry for banking and finance, corporate and M&A, disputes, and media and entertainment. Deputy managing partner Suvarna is a banking and real estate specialist.
Client feedback
“Prompt responses.” – Banking and finance
“Professional service, timely deliverables and focused approach.” – Corporate and M&A
“Lawyers are process driven, courteous and knowledgeable.” – Corporate and M&A
“The team had a pragmatic approach, short response times and was in general very supportive.” – Corporate and M&A
“They took a resolution approach.” – Dispute resolution
“Lawyers have a thorough understanding of the matter, diligence and responsiveness. They take off the client the worries of what needs to be done in the matter.” – Dispute resolution
“They provide speedy, to-the-point advice and a willingness to clarify all issues asked. They are very knowledgeable on Indian labour laws and give practical advice that works.” – Labour and employment
“They are aware of recent changes and help close issues without unnecessary technicalities” – Media and entertainment
Rishi Anand
“He is approachable.”
Roochi Loona
“Prompt responses and good working knowledge of the law.”
Gaurav Mistry
“Knowledgeable, friendly and professional.”
Vikrant Singh Negi
“Always prepared and proactive with solutions.”
Dinesh Pardasani
“He is very diligent, accessible and hard-working for the task assigned.”
Ajay Shaw
“He takes a focused and balanced approach.”
Suyash Srivatava
“Sharpness in thought, and clarity and speed in advice.
Work highlights
Advised TPG-backed Quality Care India in relation to the acquisition of various health sector companies.
Acted for HealthQuad Fund II in relation to its primary and secondary investment in the Series A funding round of GoApptiv Private.
Nishith Desai Associates prides itself as being a domestic firm with an international presence. It has market-leading labour and employment, media and entertainment, private equity, regulatory, tax, and technology and telecommunications practices. This year it moves up into the top tier for its pharmaceuticals and life sciences prowess. In the frontier space of technology, the firm has been a pioneer and cultivated a leading presence in privacy and data protection, crypto-assets and blockchain, payments, media, education, life sciences, and gaming and gambling. Vikram Shroff heads the labour and employment practice, while Vaibhav Parikh and Nishchal Joshipura are key partners for technology and private equity, respectively. The team’s corporate team was bolstered by the arrivals of team leads Diksha Maheshwari and Ayushi Pandey, who joined from Trilegal and JSA, respectively.
Client feedback
“The dispute involved cryptocurrency and an M&A transaction, and they brought their expertise in those areas, as well as their excellent experience in international arbitration, to bear very well on behalf of the client. They were detail-oriented while also focusing on the broader strategic aspects of the case. They understood the client's business objectives and focused on achieving those objectives.” – Practice area
“Attention to detail and client-centric.” – Dispute resolution
“Nishith Desai provides practical advice and is very responsive.” – Infrastructure
“Strong subject knowledge, provides market updates and lawyers have polite behaviour.” – Investment funds
“Positive and helpful attitude, strong domain experience, wide business experience, and good at hand- holding.” – Private equity
“We have found NDA to have a very practical and solution-oriented approach towards any legal issue. This has enabled us to take informed decisions on matters falling under grey areas of law.” – Regulatory
Milind Antani
“In-depth knowledge of the pharma industry both in theory as well as in the practical application of law. He is very approachable.”
Vyapak Desai
“Very smart with excellent strategic sense and insight.”
Prakhar Dua
“Prakhar is smart, practical and available.”
Nandini Pathak
“We appreciate her subject knowledge, communication and team handling.”
“She has vast knowledge and experience in the sector. We appreciate her willingness to provide suggestions and recommendations, and be a support.”
Ratnadeep Roychowdhury
“Puts clients first. Takes an independent fresh view of the situation. Has conviction.”
Work highlights
Advised a household name MNC in a high stakes litigation concerning the Johnson & Johnson baby powder
Provided ongoing regulatory advice and legal assistance to a biotechnology company involved in developing revolutionary treatment and anti-venoms for snake bite.
Phoenix Legal is a full-service firm that is recognised for its banking and finance, infrastructure, insurance, dispute resolution, labour and employment and restructuring and insolvency practices. This year it moves up in the capital markets table. The four co-founding partners are the main contacts: Manjula Chawla, Saket Shukla, Abhishek Saxena and Sawant Singh. Three partners joined last year, including disputes specialists Gaurav Dudeja and Aman Avinav, and projects partner Pallavi Bedi. The latter joined from Luthra and Luthra Law Offices.
Work highlights
Advised Intuitive Surgical India in relation to its proposed bid and supply of robotic surgical systems to Haffkine Bio Pharmaceutical, including representing Intuitive in a writ petition filed before the Bombay High Court by another bidder.
IP specialist firm RK Dewan & Co has a competitive edge in the pharmaceuticals and life sciences sector and this year moves up into the top tier of the rankings. The 175-strong firm – where women comprise 60% of the team – has been active in the IP field for more than 80 years and boasts a strong domestic client base, with over 70% of its work being for onshore companies. The firm has more than 5,000 clients from around the globe. It has a liaison office in Dallas, US and celebrated the three-year anniversary of its China office in Dalian, which has been instrumental in generating a growing roster of loyal Chinese clients. Key contacts are principal Mohan Dewan and head of patent Niti Dewan. The team welcomed four senior lawyers this year, including patents engineering team leader Deepak Singh and senior litigator Anju Agrawal.
Work highlights
Defended AstraZeneca against Emcure Pharmaceuticals in a special civil suit over the medical formulation of “Ticaplat”.
Engaged by Reliance Life Sciences on its patent strategy and patent filing and prosecution.
Key clients
Ari Healthcare, Ethicon Endo-Surgery, Gharda Chemicals, Glenmark Pharmaceuticals, L’Oreal, Pacific Pharmaceuticals, SRM University.
Former JSA partner Vishnu Nair set up Aarambh Legal in May 2021. The corporate and commercial boutique is based in Bangalore, and has a focus on fintech, data privacy and technology matters. Core practice areas of the firm include M&A, private equity, venture capital and employment. Since the firm’s inception, the team has been busy assisting companies across various stages of growth and industry sectors, as well as servicing social impact funds and private investors. It has been involved in more than 12 corporate transactions, ranging in value between $1 million and $24 million. Apart from Nair, partner Aishwarya H is a key contact. A new Bangalore office was set up in January 2023.
Client feedback
“Technical competence and availability at the right cost point.” – Corporate and M&A
“Marrying legal requirements with business requirements of our fund and the investee company” – Private equity
Aishwarya H
“Quick, adaptive and explains legal jargon to finance professionals in easy-to-understand language.”
“Strong technical competence and right attitude towards work.”
Work highlights
Represented Punt Partners in raising an investment of $2 million.
Corporate and finance law firm Begur & Partners has offices in Mumbai and Bengaluru. Led by managing partner and founder Rajesh Begur, the firm focuses on M&A, private equity and venture capital, banking and finance, real estate, capital markets and TMT-related work. Additionally, the team has a growing and active investment funds practice, particularly launching alternative investment funds. This year the firm moves up a notch in the private equity rankings. Since its inception in 1996, the firm has handled more than 20,000 transactions.
Work highlights
Advised SCI Growth Investments IV in relation to the fund raising round for K12 Techno Services.
Acted for PluckWalk Technologies in a transaction that involved Brick&Bolt, a construction services startup that raised $10 million in a funding round co-led by global venture capital firms Accel and Celesta Capital.
With offices in Mumbai, New Delhi and Bengaluru, Bharucha & Partners is an established full-service firm that handles complex, high-level matters. The firm has a stellar reputation in the market for its disputes work, with partners MP Bharucha and DP Singh lauded by peers. In the wake of this consistent recognition, the firms climbs into the top tier for dispute resolution his year. Key partners of the transactions practice group are Alka Bharucha, Justin Bharucha, Vandana Pai, Vishnu Dutt, Swathi Girimaji and Rohit Sharma. The firm welcomed former JSA partner and transaction specialist Sindhu Nayak this year.
Work highlights
Advised InsuranceDekho on its Series A fundraise.
Acted for General Atlantic on its off-market sale of shares of IIFL Wealth Management.
Three-year-old Bombay Law Chambers has offices in Mumbai, Bangalore and New Delhi. The firm has steadily made inroads in banking and finance and private equity, offering clients high-calibre solutions from veteran lawyers. The private equity practice has a stellar roster of regional and international clients, with industry strengths in e-commerce, logistics, gaming, agritech and medical technology, among others. In the past year, the firm expanded from an 11-member team to 25 members, and expanded into the area of fund formation. An entire team comprising a partner, two counsel and three associates joined the Bangalore outpost. Key contacts and founding partners are Karan Kalra and Dipanshu Singhal. Last year, partner and corporate specialist Parag Srivastava joined from Rajaram Legal.
Client feedback
“They are a perfect blend of competence, attitude towards work and cost-effectiveness.” – Corporate and M&A
“The lawyers are intelligent and creative. We like how they approach solving a problem. Also, they are very responsive and available.” – Private equity
“They have a good understanding of requirements and objectives and give practical structuring advice. They have a depth of experience and knowledge on PE transactions” – Private equity
“Parag, who is a partner at BLC, is well-versed with the current market positions for VC deals and hence takes a reasonable approach to close deals keeping in mind the interests of all parties. The BLC team also has in-depth sector expertise (such as banking and insurance) which helps in structuring transactions.” – Private equity
“The team has deep expertise, are responsive, have a commercial mindset and are solution-focussed.” – Corporate and M&A
Karan Kalra
“He is a great negotiator, very solution-focused and calm under pressure.”
Dipanshu Singhal
“Intelligent, responsive and creative, and takes a client-centric and problem-solving approach.”
Parag Srivastava
“Parag has a deep understanding of the venture capital industry. He is excellent at navigating complex deal negotiations with multiple parties while ensuring that the clients’ needs are served in the best possible manner. He also has a broad network of contacts in the industry and understands the business landscape and pulse of the market, resulting in advice that goes beyond just legal matters.”
“He is an extremely competent lawyer but what makes him unique is his ability to be fair to all parties involved and achieve commercial objectives of the transaction.”
Work highlights
Advised Eight Roads Ventures India Technology on its $13.5 million investment in Elucidata.
Acted for Ameex Technologies on its share sale to Perficient.
Burgeon Law is a boutique law firm catering to startups, venture capitalists, and early and growth-stage players. This year the firm moves up a tier in the corporate and M&A and private equity tables. It is led by founder Roma Priya and the team cover the full spread of practice areas relevant to its clients, from regulatory advice and investments to restructuring. Since the firm’s inception in 2015, it has closed over 700 domestic and cross-border deals from seed to growth equity. It covers a broad range of industry sectors such as health-tech, fintech, edutech, logistics, e-commerce, travel, mobility and healthcare. Associate partner Abhisshek Singlla joined last year from Andritz. Corporate specialist Abhay Vohra left to establish MetaLaw Offices in June.
Work highlights
Advised Rusk for its Series A funding round where 20% stake in the company was subscribed by Nodwin Gaming, Nazara Technologies and IE Venture Fund I, DAOL and others.
Assisted investor Kae Capital Fund in the seed funding round raised by Bold Finance for the subscription of shares by the client and other investors.
Represented Comfort Grid Technologies in a sizeable transaction with investors Premji Invest, Fireside and Alteria Capital.
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 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 and Yash Ashar. The firm also has a unique bench of retired senior bureaucrats from key Indian regulators, such as the Reserve Bank of India and the Securities and Exchange Board of India, to provide an extra layer of expertise.
The corporate team welcomed three partners from various leading law firms: head of media, education and gaming Aarushi Jain joined from Nishith Desai Associates, Rishiraj Bhatt joined from Kanga & Co and Siddharth Hariani joined from Phoenix Legal. Disputes veteran Gauri Rasgotra left last year to establish her own boutique firm.
Work highlights
Advised Advent International on its acquisition of 9.99% stake in Yes Bank.
Key clients
Alpha Wave Global, Biocon Biologics, Brookfield Asset Management, Everchem Asia Private, IndoStar Capital Finance, IFC, Google, Warburg Pincus.
IC Universal Legal is an eight-partner-strong firm that excels in private equity and investment funds work. This year it climbs into the top tier of the investment funds table on the back of strong market reviews of its dominance in the fund formation space. It has offices in Bangalore, Chennai, Delhi, Mumbai, Chandigarh and Ahmedabad, and extends its reach to the US and Brazil via its affiliation with US firm Chugh. Apart from its private equity, venture capitalist, credit fund and hedge fund clients, the firm is also active among startup companies. Industry-wise, the firm has expertise in banking, financial services, insurance, healthcare, industrial engineering, media, pharmaceuticals, IT, real estate and private clients. The firm boasts the highest market share among all the Indian law firms, of nearly 30% of the Indian investment funds establishment space. This includes private equity, venture capital, credit and hedge fund structuring as practice areas. Last year, the firm was involved in no less than 45 transactions across different verticals. Senior partners Kavitha Vijay and Tejesh Chitlangi are key contacts.
Client feedback
“On top of the regulatory framework for venture capital funds, the team has good insights into the thinking and working of the regulator in India.” – Investment funds
“Strong subject-knowledge expertise with a reliable and professional approach.” – Technology and telecommunications
Dikshit Mehta
“Dikshit is always accessible, prompt in his deliveries and gives a firm view on all matters with sound legal and logical backing.”
Sambhav Ranka
“Depth of knowledge, practical in approach and a problem-solver.”
Work highlights
Assisted Symbio Generrics India on its acquisition of a pharmaceutical manufacturing facility owned by Yenovus Pharma by way of a business transfer.
Key clients
Assam Hospitals, Pi-Beam Labs Private, Zephyr Peacock India Growth Fund.
IndusLaw is a modern full-service firm that is rapidly coming up the ranks as a challenger to the established order of top legacy firms. This year, it moves up a notch in the real estate rankings and expanded by opening a new office in Gurugram. In total, the pan-India coverage includes offices in Bangalore, Chennai, Delhi, Hyderabad, Mumbai and the aforementioned Gurugram. The firm takes pride in its growing prominence among sophisticated clients for its private equity and TMT work. It specialises in working with investors across the full funding lifecycle and on a variety of funds including sector-specific ones such as technology, life sciences, e-commerce, retail and infrastructure. The capital markets team remains active, securing some of this year’s largest mandates for both issuers and bookrunners on more than 24 transactions. While maintaining a secure foothold at the forefront of ECM work, it is busy diversifying its suite of experience into newer products such as SPACs and business trusts, block deals and debt capital markets work.
There were several noteworthy inflows and outflows of talent this year. Banking partner Ashutosh Narang joined from Luthra and Luthra Law Offices last October. Corporate specialists Amrit Mehta and Shantanu Jindel joined from Majmudar & Partners and JSA, respectively, while partners Anubha Sital and Divya Varghese departed for in-house roles. On the disputes side, partners Maneesha Kongovi and Sourasubha Ghosh arrived from Argus Partners and Hariani & Co, respectively.
Client feedback
“The team are go-getters, always there to work on challenging assignments, and provide clarity on strategy in litigations. It helps us achieve the desired results” – Banking and finance
“Prompt client service, and accuracy in legal representation and advisory.” – Banking and finance
“Their legal expertise is top-notch and add to that the constant availability of folks to resolve any sudden issues that might arise makes them a perfect partner for any startup.” – Corporate and M&A
“The team is excellent. Litigation is the core area and very efficient. We are satisfied with their performance. Cost-wise, they also are very reasonable.” – Dispute resolution
“Solution-oriented, understands the clients’ needs very quickly, and provides well-thought resolutions.” – Dispute resolution
“Proactive, knowledgeable, good negotiators, and has good command on the subject.” – Investment funds
“We recommend them for their ability to understand business and define the solution from multiple angles; the availability of the team; their turnaround time; the involvement of senior partners in brainstorming and solutioning; and the ease of working with other ecosystem partners.” – Media and entertainment
“They are highly responsive and in touch with the local market. It is very hard to stay on top of the latest trends in legal terms from afar. They have an eye toward ensuring that appropriate and proper legal protections are in place, with a commercial sensibility to finding compromise.” – Private equity
“Great advice, super-responsive, creative problem-solvers, and a collaborative team.” – Private equity
“Interesting, practical and give timely insights.” – Private equity
“Proactive and knowledgeable teams across both practices.” – Private equity
“Very client-centric, highly available, responsive and caring. They have a long-term focus, not transaction focus.” – Private equity
“Sensitive to client needs, approachable and provide holistic advice.” – Private equity
“The team understands client objectives and priorities, and as a result gives us the specific advice we need.” – Private equity
“We appreciate their attention to detail, sector-specific knowledge in the areas we invest, deep knowledge about our positions in investments, and very personable and committed team.” – Private equity
Ranjana Adhikari
“She is very positive and has good domain knowledge. She shows a good balance of risk management and business solutioning, and has a great ability to bring in specialists as and when needed.”
Unnati Agrawal
“Goes out of her way to devise a solution. She has very good domain knowledge and communication skills.”
Aakash Dasgupta
“Excellent communication and expertise.”
Mayukh Dutta
“Very collaborative, founder-first attitude. Also he is approachable, personable, down-to-earth and solution-oriented.”
Sushmita Gandhi
“She is always there for any assignment and helps us in complex assignments. She has a positive approach to any issue at hand and has clarity of thought for devising suitable strategies to deal with such issues. The insights and advice provided by Ms. Sushmita has been quite helpful in overcoming the challenges faced in transactions and litigations.”
“Friendly, prompt, intelligent and articulate.”
“Very effective and quick.”
Anindya Ghosh
“Anindya has great legal expertise and is always available to guide us on any issues where his expertise is needed.”
“His industry knowledge is excellent. Anindya is very solution-oriented while being able to keep our interests in mind as well as the general regulatory landscape. He is very easy to interact with and personable, and he is always available when we need him.”
“Very focused on solutions to move things along. Diligent, knowledgeable, affable and pleasant to work with. He takes time out to explain things and always kept our best interests in mind. He is a fair negotiator.”
Amit Jajoo
“Extremely meticulous and solution-oriented.”
Pallavi Kanakagiri
“She is very knowledgeable about legal implications and is very good at applying this to our specific concerns.”
Winnie Shekhar
“Always available. Incredibly responsive. Works to advocate on behalf of clients, while finding a middle-ground and reasonable approach to meeting points of dispute. Creative in thinking.”
“Combines a sharp eye on legal issues with a commercial sensibility to getting a deal across the line. Provides useful and practical advice. Not overly aggressive but a good advocate for our positions.”
“Knowledgeable and responsive.”
Work highlights
Represented PhonePe on its fund raise of $650 million.
Acted for ShareChat on its Series G&H funding round of $521 million.
Jerome Merchant + Partners offers a full range of corporate law services, including banking and finance, and corporate and M&A. With a well-respected banking practice, the firm ascends a tier in the banking and finance table. It has grown its presence for these clients in the financial services, media, technology, healthcare and consumer goods spaces. In the M&A space, the firm has deep experience in the automotive and real estate sectors. Partners Sameer Sibal and Vishnu Jerome lead on key deals, while disputes partner Murtaza Somjee handles litigation and arbitration cases.
Advised IIFL on its investment in Delightful Gourmet, which operates as a fresh animal protein e-commerce platform.
Assisted LGVP, LP on its investment in Assetgro Fintech.
JoyceLaw was established in 2018 by private equity specialist Deepak Joyce, a former Luthra & Luthra Partners corporate partner. The firm bills itself as a boutique PE practice acting for some of the country’s best-known and up-and-coming startups. The team prides itself for its deep understanding of the regulatory landscape as well as the sensitivities of Indian promoters and PE and VC funds. The firm’s strength and work has evolved over the years, from focusing on primarily smaller fundraising rounds in the early days to being counsel for the sell side in several large later-stage funding rounds led by sophisticated financial investors represented by top Indian and international law firms. Joyce and his team have been very active advising clients in the FSR space related to digital lending, credit, debit and pre-paid cards, and payment aggregation. This past year, the firm represented more than 20 clients in equity and debt funding transactions.
Client feedback
“Excellent at explaining, great at giving us a balanced view of various approaches, and easy to work with.” – Corporate and M&A
Deepak Joyce
“Open, knowledgeable and willing to explain.”
Work highlights
Acted for Fashinza in its $100 million Series B funding, led by Prosus and Westbridge Capital.
Advised Citymall in raising approximately $75 million in funding, led by Norwest Venture Partners.
Mid-sized firm Krishnamurthy & Co offers full corporate and commercial transactional services. It is best known for its intellectual property practice, but has corporate and M&A and private equity practices that are growing in prominence. This year the firm advances up the infrastructure and dispute resolution ranking tables. The firm boasts a roster of elite clients. Senior partner Nikhil Krishnamurthy chairs the intellectual property department and he is a key contact. Other leaders at the firm include founding partner Naina Krishnamurthy, managing partner Shwetambari Rao, senior partners Ayush Agarwala and Rashmi Deshpande, and partner Rukmini Roychowdhury. Dispute specialist Aditi Mittal departed for Kochhar & Co in December.
Client feedback
“We value the team’s knowledge of the subject matter, speed of response, turnaround times and attention to detail.” – Corporate and M&A
Shwetambari Rao
“Extremely quick responses, attention to detail, fast turnaround of docs, quality of response, thorough, solution-oriented and innovative.”
Work highlights
Acted for Centre Court Capital on its co-investment in FanCraze, a digital collectibles company.
Advised Lightrock India Holdings on its $125 million investment in Phasorz Technologies.
Best known in the market for its leading tax and IP practices, Lakshmikumaran & Sridharan also provides in-depth advisory and representation in competition, corporate, real estate, and restructuring and insolvency matters. It has 13 offices across 11 cities and opened a new office in Kochi two years ago. For IP, the firm ascends into the top tier. It is famed for its contentious patent know-how, where the subject matter requires deep and detailed knowledge. The firm is a market leader in plant genomics and plant variety protection. The firm’s robust and historical tax practice specialises in GST, income tax, customs and litigation. The firm’s key contacts are IP practice head Malathi Lakshmikumaran, who is a specialist in the biotechnology, chemistry and pharmaceuticals sectors. Managing partner V Lakshmikumaran is a go-to name for tax matters. Notable clients in the arbitration practice area occupy the steel, power, consumer goods, hospitality and tourism, and infrastructure sectors.
Work highlights
Acted for ETS International BV on its investment into upGrad in a fresh round of funding from a clutch of marquee investors.
Luthra and Luthra Law Offices is a well-rounded full-service firm that has been a market leader in multiple practice areas over the past two decades. Sadly, founding partner and legendary rainmaker Rajiv Luthra passed away earlier this year. The firm has been replenishing its ranks by welcoming no less than 10 partners into the fold, ranging from corporate specialist Abhilekh Verma from Kochhar & Co to disputes expert Shreya Sircar from Bharucha & Partners. The firm is proud of its market-leading clean energy practice, prioritising niche deals that have a positive environmental or social impact.
Client feedback
“Partner attention and input have been key to the engagement. Commitment to acting as true advisers to the transaction and prioritising client interest even when it meant calling off the transaction and limiting the scope of the engagement.” – Corporate and M&A
“Very professional and timely updates.” – Dispute resolution
“Reactive and proactive.” – Intellectual property
Shireen Dhar
“Very responsive with practical solutions.”
Pranshu Paul
“Professional and helpful.”
Navin Syiem
“Navin has always been astute and accurate in his understanding of our issue, succinct in his advice, always mindful of time, prompt in his feedback and highly adaptive to the client's personality.”
Work highlights
Assisted Novo Holdings on its investment in MedGenome, a company involved in genetic testing services, genomics research and drug discovery solutions.
Acted for Emerson Electric on its sale of majority stake in its climate technologies business to private equity funds managed by Blackstone.
Nishith Desai Associates prides itself as being a domestic firm with an international presence. It has market-leading labour and employment, media and entertainment, private equity, regulatory, tax, and technology and telecommunications practices. This year it moves up into the top tier for its pharmaceuticals and life sciences prowess. In the frontier space of technology, the firm has been a pioneer and cultivated a leading presence in privacy and data protection, crypto-assets and blockchain, payments, media, education, life sciences, and gaming and gambling. Vikram Shroff heads the labour and employment practice, while Vaibhav Parikh and Nishchal Joshipura are key partners for technology and private equity, respectively. The team’s corporate team was bolstered by the arrivals of team leads Diksha Maheshwari and Ayushi Pandey, who joined from Trilegal and JSA, respectively.
Client feedback
“The dispute involved cryptocurrency and an M&A transaction, and they brought their expertise in those areas, as well as their excellent experience in international arbitration, to bear very well on behalf of the client. They were detail-oriented while also focusing on the broader strategic aspects of the case. They understood the client's business objectives and focused on achieving those objectives.” – Practice area
“Attention to detail and client-centric.” – Dispute resolution
“Nishith Desai provides practical advice and is very responsive.” – Infrastructure
“Strong subject knowledge, provides market updates and lawyers have polite behaviour.” – Investment funds
“Positive and helpful attitude, strong domain experience, wide business experience, and good at hand- holding.” – Private equity
“We have found NDA to have a very practical and solution-oriented approach towards any legal issue. This has enabled us to take informed decisions on matters falling under grey areas of law.” – Regulatory
Milind Antani
“In-depth knowledge of the pharma industry both in theory as well as in the practical application of law. He is very approachable.”
Vyapak Desai
“Very smart with excellent strategic sense and insight.”
Prakhar Dua
“Prakhar is smart, practical and available.”
Nandini Pathak
“We appreciate her subject knowledge, communication and team handling.”
“She has vast knowledge and experience in the sector. We appreciate her willingness to provide suggestions and recommendations, and be a support.”
Ratnadeep Roychowdhury
“Puts clients first. Takes an independent fresh view of the situation. Has conviction.”
Work highlights
Advised Government of Singapore Investment Corporation on legal, regulatory and tax aspects of its investment in Asia Healthcare Holdings.
Represented Westbridge AIF on its investment in Propertyshare Online Platform which houses an online real estate investment platform.
Boutique law firm NovoJuris Legal specialises in private equity work, while its intellectual property and M&A offerings continue to gain momentum. In the past six years, the team – led by two partners – has executed more than 270 private equity-related transactions for both investor and company clients. According to Venture Intelligence reports, the firm is among India’s 15th most active legal counsellors in the M&A space. The firm has four mainstays of expertise: Indian startups going the IPO route, alternative investment funds, externalisations and internalisations of entities, and business digital transformations. Founder Sharda Balaji and partner Ashwin Bhat are the key contacts.
Work highlights
Advised Azalp Technologies on its Series A transaction.
Acted for Webklipper Technologies’ WebEngage on the structure its Series B transaction.
Represented Nolan Edtech on its Series B round. The round was structured with a combination of both debt and equity.
Pioneer Legal was established in 2019 by Satish Kishanchandani, Narendra Dingankar and Pritha Jha. Now, the numbers stand at six partners and more than 35 lawyers, with the firm rapidly gaining recognition for its high-quality corporate and private equity work. The firm moves up a tier in the technology and telecommunications table. The Pioneer team works across a swathe of sectors like education, advertising, healthcare, pharma, financial services and logistics. Apart from the corporate focus, the firm is also active in employment, insurance, IP, infrastructure, project finance and TMT matters. The firm has national expansion plans and will soon start its commercial litigation and arbitration practice in Mumbai. The other key partners and corporate specialists are Mayank Mehta, Shoubhik Dasgupta, Anupam Shukla and Sanket Jain.
Client feedback
“They are very knowledgeable, hard workers, and easy to work with.” – Corporate and M&A
Pritha Jha
“She is fun, loyal and hard-working.”
Work highlights
Acted for Tata Capital Healthcare Fund on acquiring a 15% stake in Anderson, a Chennai Diagnostics company, for $6.78 million.
Assisted Gold Plus Glass Industry in relation to its issuance of compulsorily convertible debentures on a private placement basis to Kotak Special Situations Fund and PI Opportunities Fund I – Scheme II.
Rajaram Legal has gained traction in recent years for its growing visibility in PE and VC mandates. The firm is focused primarily on corporate and private equity work, with deep expertise on transactions in highly regulated sectors and in the technology space. The team is helmed by private equity specialist and managing partner Archana Rajaram. Other key contacts are partners Prasad Subramanyan and Priyadarshani Sherchan.
Work highlights
Advised Lenskart Solutions on a total investment close to $750 million from various investors making it one of the largest funding rounds in the recent past for the company.
Assisted Lifelong Online on its $300 million sale to US-based Thrasio.
Acted for Acko Technology and Services on their funding round of $255 million.
Key clients
Matrix Partners, upGrad Education, Sequoia Capital.
S&R Associates has market-leading capital markets, and corporate and M&A practices, a regular choice for selective clients. Its competition, disputes and insolvency practices are growing from strength to strength every year and perform well in their respective categories in our rankings. The firm moves up a tier in the banking and finance table. The firm is not a high-volume outfit but features on big-ticket mandates that require sophisticated lawyering. A highlight matter for the firm was playing a lead role for ArcelorMittal in its precedent-setting joint acquisition of Essar Steel with Nippon Steel, an instruction that required the savvy capabilities of its corporate, disputes and insolvency teams. Capital markets head Sandip Bhagat is highly respected in the market, with a peer acknowledging: “[There is] absolutely no comparison, he is simply the best.” Partners Rajat Sethi and Niti Dixit lead the M&A and dispute resolution teams, respectively.
Client feedback
“They are responsive to queries, provide valuable input and negotiate our position well.” – Banking and finance
“Quality of work is stellar.” – Corporate and M&A
“They are the most hard-working legal advisers I have ever worked with. They are very responsive, smart and hands-on.” – Corporate and M&A
Arpita Garg
“She is very approachable, knowledgeable with legal matters, provides valuable guidance and strongly negotiates our position on certain matters.”
Mohit Gogia
“Responsive and helpful.”
Rajat Sethi
“He is very responsive, knowledgeable, always attentive and available.”
Work highlights
Acted for IRB InvIT Fund, India’s first publicly listed infrastructure investment trust, on its acquisition of VK1 Expressway from the fund’s sponsor, IRB Infrastructure Developers.
Advised DSG Consumer Partners, an existing investor in StayVista, a manager of luxury villas and holiday homes in India for vacation rentals, on its Series B funding round also involving Capri Global and certain existing investors.
Samistis is a start-up eight lawyer boutique corporate and transactional firm led by private equity specialist and co-founder Prashant Kumar Jain. The firm’s core areas include corporate and M&A, investment funds and private equity.
Client feedback
“We appreciate their detailed report on subject matter with relevant case law, adherence to timelines and professionalism.” – Capital markets
“Samisti's team understood the key requirements and aspects of the deal and ensured that our interests were not compromised.” – Corporate and M&A
Prashant Jain
“Prashant understood our requirements and ensured that our interests were not compromised. He was very clear in his thoughts and explanations and provided appropriate rationale for the actions proposed.”
Work highlights
Advised Pureplay Skin Sciences India on its $15 million series B fundraising round from Unilever Ventures Holdings and Faering Capital India Evolving Fund III.
Acted for Medplus Health Services and its promoter in raising fresh equity and refinancing existing debt by raising fresh debt.
Represented Nephrocare Health Services in acquiring a majority stake in a reputable dialysis network in the Philippines.
Samisti Legal is a start-up eight lawyer boutique corporate and transactional firm led by private equity specialist and co-founder Prashant Kumar Jain. The firm’s core areas include corporate and M&A, investment funds and private equity.
Client feedback
“We appreciate their detailed report on subject matter with relevant case law, adherence to timelines and professionalism.” – Capital markets
“Samisti's team understood the key requirements and aspects of the deal and ensured that our interests were not compromised.” – Corporate and M&A
Prashant Jain
“Prashant understood our requirements and ensured that our interests were not compromised. He was very clear in his thoughts and explanations and provided appropriate rationale for the actions proposed.”
Work highlights
Advised Pureplay Skin Sciences India on its $15 million series B fundraising round from Unilever Ventures Holdings and Faering Capital India Evolving Fund III.
Acted for Medplus Health Services and its promoter in raising fresh equity and refinancing existing debt by raising fresh debt.
Represented Nephrocare Health Services in acquiring a majority stake in a reputable dialysis network in the Philippines.
Sarthak Advocates & Solicitors has extensive experience working on energy and infrastructure projects and is noted for its corporate and M&A, dispute resolution, and restructuring and insolvency practices. The firm is empanelled with public sector undertakings Bharat Heavy Electricals, Engineers India and Shipping Corporation India. Managing partner Abhishek Nath Tripathi leads the firm’s corporate and M&A, projects, infrastructure and project finance, and bankruptcy and insolvency practices, while senior partner Mani Gupta oversees the dispute resolution team. The firm recently welcomed transactions partner Apoorva Chandra from King Stubb & Kasiva and litigation partner Siddharth Rao from the World Bank Group.
Work highlights
Advised 91GameFi on its pre-Series A investment of $4 million.
Assisted Ambarish Gupta in the divestment of his shareholding in Knowlarity Communications.
Shardul Amarchand Mangaldas & Co has a commanding presence in the market with top-tier practices across all practice areas and industry sectors. It is routinely considered one of the best firms in a highly competitive market for transactions and a first port of call for selective international clients. This year it is boosted into the uppermost category for its pharmaceuticals and life sciences expertise. The firm offers the best of all worlds: large capacity, pan-India presence, depth of expertise and experience, and market-leading professionals. It regularly advises the largest multinationals, Indian conglomerates, and private equity players and funds. The capital markets team continues to represent issuers in many of the country’s largest IPOs and the M&A group remains unmatched for its high-stakes, high-value transactions. Pallavi Shroff is well known for her extensive experience in dispute resolution, and Shardul Shroff is renowned for his expertise as a general corporate lawyer. There were multiple notable movements in the course of the last 12 months.
Client feedback
“Excellent technical knowledge. Sound understanding of market practices and associated risks.” – Banking and finance
“Thorough research, excellent drafting of affidavits and responsive teams. They take ownership of the engagement task and a professional approach.” – Banking and finance
“They have practical positions on legal interpretation and always deliver in a timely fashion.” – Capital markets
“Timeliness, efficiency and expert in the field of competition law.” – Competition/antitrust
“The team understands business, and provides clear advice shorn of unnecessary legalese. They are always looking to solve problems for the business, and they have become trusted advisers over the course of our engagement with them.” – Competition/antitrust
“Excellent, well-rounded team which provides specific and pointed advice.” – Corporate and M&A
“High-quality legal advice, and knowledge of market and regulatory developments.” – Corporate and M&A
“Very responsive and provide clear advice.” – Dispute resolution
“Strong understanding of the market, subject matter and time management.” – Media and entertainment
“Great team that is always available, has high competence and is able to close points.” – Private equity
“SAM has one of the strongest restructuring and insolvency teams which is supplemented by a wide spectrum of expertise that is required to resolve complex restructuring situations. Their experience and network in the region spanning insolvency, corporate law, debt and equity capital markets, regulations and litigation was instrumental in the successful outcome in a number of situations.” – Restructuring and insolvency
Manika Brar
“She has a positive attitude, good communication skills and great domain knowledge.”
Sayantan Dutta
“He has a hands-on approach and takes tough stands when needed.”
Jay Gandhi
“Excellent PE knowledge and personalisation.”
Radhika Indapurkar
“Dedicated, hard-working, good communications, good drafting skills, and excellent domain knowledge.”
Ila Kapoor
“Good team leader. Very responsive and great communications.”
Abhishek Parekh
“Great, well-rounded lawyer. He handled the negotiations and documentation very well.”
Veena Sivaramakrishnan
“We valued her depth of technical knowledge, coupled with a sound understanding of market practice.”
“She’s a top lawyer in restructuring and insolvency in the region with innovative solutions to solve complex, multi-stakeholder restructuring situations. She has an extremely strong ability to solve difficult problems and provide timely recommendations that have proven to be correct on a number of occasions.”
Puja Sondhi
“Great leader who manages situations very well.”
Yaman Verma
“We were very impressed by the ownership taken by Yaman. He provides excellent advice to businesses in a manner that is easy to understand for people with non-legal backgrounds. He is our go-to adviser for new ventures, as he helps us identify and remove potential roadblocks. He has a deep technical understanding of competition law, as well as the commercials of the e-commerce space, which he combines to provide cutting-edge advice.”
Work highlights
Advised Carlyle on its acquisition of up to 10% of the total paid-up share capital of Yes Bank through a subscription to equity shares and warrants to be issued by the bank.
Established in 2016, Spice Route Legal is a rising star in the technology and telecommunications space, with one of the largest dedicated fintech and data practices in the country. It has four offices in Mumbai, Bangalore, Delhi and Kochi. The firm is also an active player in the mid-market M&A and private equity segment. The firm houses multiple generalist lawyers who have expertise in technology and telecommunications, media and entertainment, energy and healthcare. Key contacts include founding partners Mathew Chacko and Praveen Raju, who each have spent numerous years practising law outside of India. Their experience is the backbone of the firm’s “border-agnostic” deal perspective. The firm moves up a tier in the private equity and regulatory tables this year.
Work highlights
Advised Urban Company and Acko on their co-investment into Vivish Technologies Private, the company that operates the popular community and security management app, MyGate.
Assisted Seclore, a software company that offers data security solutions, on restructuring advisory related to the re-domiciling of the company in the US.
Representing GlobalBees on its investment into multiple e-commerce companies.
Stratage Law Partners recently celebrated its three-year anniversary, having set up shop in August 2020. The firm specialises primarily in private equity, venture capital, corporate and M&A and real estate matters, but its dispute resolution offering has grown steadily in the past two years. Managing partner Darshan Upadhyay, and partners Shyam Pandya and Bhavin Gada are the key contacts. The team welcomed associate partner and disputes specialist Ameya Deosthale from Lexicon Law Partners in 2022.
Client feedback
“Thorough analysis and out-of-the-box thinking.” – Real estate
Bhavin Gada
“He has in-depth knowledge and innovative ideas.”
Work highlights
Advised Samara Capital Partners Fund II Limited in relation to its exit from Oaknet Healthcare Private of Eris Lifesciences.
Acted for Impresario Entertainment and Hospitality in a deal where India Resurgence Fund has acquired a stake from L Catterton Asia.
Represented Magicrete Building Solutions and India Business Excellence Fund II in relation to its investment round by India SME Investments.
ThinkLaw was established in early 2021 and bills itself as a “new age law firm”. It focuses on corporate and commercial transactions, dispute resolution, IP and IT, and employment matters. Managing partner Tushar Ajinkya and partner Ankita Kashyap are the key contacts.
Work highlights
Advised Manipal Group and its subsidiaries in relation to investments in MHL from sub-Saharan Private Equity Investor, Phatisa.
Touchstone Partners was formed as a splinter from Platinum Partners in late 2020. Corporate specialist Karam Daulet-Singh is the managing partner, and he helms a team of 35 lawyers including six partners. The firm and its senior leaders have always been highly-regarded in the market for high end, complex M&A and private equity work.
Work highlights
Advised Glade Brook Capital and Canaan Valley Capital on Dailyhunt’s latest round of $100 million funding.
Acted for GIC as the lead investor on its $165 million investment in Star Health.
Represented GIC on its $277 million investment in Delhivery.
Key clients
Brookfield
Trilegal climbs up in several rankings this year, including infrastructure, insurance, pharmaceuticals and life sciences and real estate. It is quickly becoming a preferred choice for heavyweight clients, an alternative to the famous family firms that inhabit the top echelon of legal services providers. Its TMT practice continues to gain traction as a market leader, and its private equity and investment funds offering is going from strength to strength. The firm’s five-year-old asset management and fund formation practice has rapidly risen to be a power player. The dispute resolution team, led by Shankh Sengupta, has proven its worth with an elite group of litigators acting in high-stakes matters for premier clients.
Work highlights
Represented Bain Capital, leading a consortium of investors, on their acquisition of 100% of ITP Aero from Rolls-Royce.
Known in the market for its past collaborations with Linklaters, TT&A proves its leading firm status by remaining an ‘Outstanding’ firm for banking and finance and moves up a notch in the private equity table. Its capital markets practice is highly regarded for its quality, focused specialism in debt issuances, including masala bonds, and structured high-yield transactions. Partners Sonali Mahapatra, Rituparno Bhattacharya, Nidhi Rani and Rahul Gulati form one of the country’s most well-regarded teams for banking and finance. Last year, the firm was bolstered by the arrival of banking and corporate powerhouse Gautam Saha and a team of five partners from AZB & Partners.
Work highlights
Represented SCI Investments VIII on its investment in Teacher Tools.
Advised Courtside Ventures III on its $3 million investment into 91GameFi.
Founded in 2015, Veritas Legal’s bread-and-butter are its corporate and M&A and private equity practices, with its dispute resolution offering also rapidly rising in prominence. This year, it debuts in the banking and finance, and construction rankings. For its size, the firm punches above its weight, amassing an impressive deal flow and volume last year. It consistently placed in respected M&A and PE league tables within the top 10 of all Indian law firms. Sector-wise, it is deepening its footprint in pharmaceuticals and life sciences, real estate, and technology and telecommunications. Founder and managing partner Abhijit Joshi is a highly respected M&A and private equity lawyer, and partners Rahul Dwarkadas and Neveille Mukerji specialise in dispute resolution. Other key partners include Kunal Doshi and Tushar Raut. Recently, the firm welcomed banking and finance partner Jhinook Roy and corporate specialist Shubhangi Pathak from Khaitan & Co and Tuli & Co, respectively.
Work highlights
Advised Kedaara Capital on its investment in ASG Eye Hospital.
Represented Amagi Media Labs on receiving investment by various investors totalling $95 million.
Vertices Partners is a specialist private equity and venture capital boutique firm that was established in 2016. It has offices in Mumbai, Gurugram, Pune and Bengaluru. The firm works with young companies in relation to capital raising during their seed, growth and expansion phases. It has strong sectoral experience in banking and financial services, pharmaceuticals and life sciences, and technology and telecoms. Founding partners Vinayak Burman and Archana Khosla Burman are key figures. This year the firm welcomed two new partners: Manasi Pathak Verma from LegumRadix, and Siddharth Raja from Saakshya Law.
Client feedback
“Vertices Partners is really good at protecting the client’s interest in any corporate deal.” – Investment funds
Vinayak Burman
“He pays attention to details and has amazing negotiation skills.”
Work highlights
Advised Finova Capital in a deal which involved acquisition of a certain stake by an incoming investor from certain angel investors and the founders, and on a Series D round primary investment in the company by certain existing investors and a new investor.
Acted for Redcliffe Lifetech on its $61 million Series B fundraise led by LeapFrog investments.
Wadia Ghandy & Co is one of the oldest full-service law firms in India, established in 1883. The firm has offices in five cities and houses more than 150 fee earners. The firm’s banking and finance offering is widely respected and this year it ascends into the Highly Recommended tier for this work. The firm also boasts strengths in aviation, disputes and real estate. The key contacts include senior partners Shabnum Kajiji and Hamid Moochhala, and joint managing partners Ashish Ahuja and Dhawal Mehta.
Work highlights
Assisted Motilal Oswal Private Equity on its investment in Asian Footwears.
Leading employment specialist Manishi Pathak founded Anhad Law in early 2021 after his departure from IndusLaw. The firm is one of the few law firms in the country to house a dedicated and standalone labour and employment practice. It covers the full spectrum of services for companies and employees, from advisory to mediation and litigation.
In addition to its employment pillar, the firm has branched out into offering a full suite of services on all legal aspects of real estate and construction. The team covers non-contentious and contentious real estate matters, ranging from litigation, large-scale real estate project investments and financing, to purchase-sale, leasing and conducting detailed land title due diligence. Partners Ranjan Jha, Sumit Kalra and Dhruv Gandhi are also key contacts.
Client feedback
Manishi Pathak
“He’s easy to get along with and always willing to talk no matter where he is.”
Work highlights
Advised Jabil Circuits India in respect of the sub-lease of an industrial building at IndoSpace Industrial Park.
Represented IRC Supply Chain Solutions on legal recourse against the State Government’s order for acquisition of land for power grid, whereby a part of the client’s land had been acquired for installation of an electricity tower.
Based in Chennai, Calibre Legal is a full-service law firm founded by corporate specialist Mohammed Shadaan Saipillai. The firm covers a broad range of practice areas like M&A, real estate, general corporate advisory, dispute resolution and both direct and indirect tax. In addition to Saipillai, another key contact is partner Arun Kurian Joseph.
Client feedback
“Calibre Legal's professionalism and the ability to provide timely responses to client requirements stand out.” – Corporate and M&A
“Well-organised and efficient in providing service.” – Corporate and M&A
“Quick response time and quality work.” – Dispute resolution
“We appreciate their advisory, calmness, patience and ability to direct questions to scout for answers.” – Labour and employment
“They were able to advise us and bring to our notice clauses which were detrimental to us. They also provided us insights on what the various points in the contract. Most importantly they were able to provide us with additional points to safeguard our interests which we also didn’t think of. They helped us create a fair and watertight contract.” – Private client
Shadaan Saipillai
“He is intelligent, proactive and provides value for money.”
“All was good from him and he did well in all aspects of our requirements.”
“Accommodating to our ad-hoc schedule calls and patience in explaining the pros and cons.”
“Shadaan is highly professional and ensures timelines are met.”
“He thinks ahead and has the best in mind for the clients.”
Work highlights
Advised FirstInsight Technologies India on setting up its presence in India through doing property title due diligence, and drafting and negotiating a lease deed for the client’s office in an IT special economic zone.
Acted for a HNWI on his investments in Ashok Nagay, including doing property title due diligence, and drafting and registering sale deeds for the purchase of the properties.
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 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 and Yash Ashar. The firm also has a unique bench of retired senior bureaucrats from key Indian regulators, such as the Reserve Bank of India and the Securities and Exchange Board of India, to provide an extra layer of expertise.
The corporate team welcomed three partners from various leading law firms: head of media, education and gaming Aarushi Jain joined from Nishith Desai Associates, Rishiraj Bhatt joined from Kanga & Co and Siddharth Hariani joined from Phoenix Legal. Disputes veteran Gauri Rasgotra left last year to establish her own boutique firm.
Work highlights
Acted for JP Morgan Services India on its lease of a built-to-suit premises in Bangalore.
Key clients
Brookfield Asset Management, Embassy Office Parks REIT, Envestnet Asset Management India, Keppel Land, PropShare Capital Advisors, Redington.
Dhaval Vussonji & Associates celebrates its 10th anniversary this year. The real estate-focused boutique law firm houses over 60 lawyers in Mumbai, Bengaluru and Delhi. Four of its six partners are real estate specialists, with managing partner Dhaval Vussonji also being a chartered accountant. The firm has helped many offshore real estate clients enter the Indian market, providing regulatory counsel and working on funding requirements. Vussonji’s accountancy background adds the extra dimension of tax advice and implications for clients. In addition to Vussonji, the key contacts are managing partner Prachi Dave, banking specialist Manisha Paranjape, real estate partner Minal Sampat and litigation specialist Sonam Mhatre.
Work highlights
Advised the Lodha Group in the acquisition of 110 acres of land.
Acted for HDFC Capital Advisors to conduct title diligence of various properties in Pune and Mumbai to fund Manjri Horse Breeders Farm and other entities of the Shapoorji Pallonji Group.
Key clients
Adani Realty, Godrej Group, JM Financial, Kotak Mahindra, Marathon Group, Piramal Group, Raheja Group, Shapoorji Pallonji, Spenta Developers.
Full-service firm DSK Legal has enjoyed the fruits of its expansion last summer, climbing up in the rankings across a number of areas such as capital markets, IP and pharmaceuticals and life sciences. After the seismic shift of adding more than 60 new lawyers, most from Luthra and Luthra Law Offices, the firm continued to build out its teams. It welcomed corporate and finance specialists Srinivas BR, Siddharth Suresh and Karan Ajitsaria from Dua Associates. M&A expert Kunal Mehra, and disputes partners Prashant Mishra, Prashant Pakhiddey and Saleem Hasan Ansari, followed former colleagues over from Luthra and Luthra Law Offices, while R&I consultant Sanjeev Pandey joined from the State Bank of India.
Under the guidance of top-flight real estate partner Sajit Suvarna, the firm’s real estate offering is regarded as one of the strongest in Mumbai. With an added capacity on the corporate side from recent additions, the firm posted a strong showing by closing over 50 sizeable M&A deals. The firm’s specialised media and entertainment department is well received by the market. It boasts many A-list Bollywood film stars as clients, along with local and international media houses and platforms like Disney and Star India. Key contact and managing partner Anand Desai is a venerable figure in the legal industry for banking and finance, corporate and M&A, disputes, and media and entertainment. Deputy managing partner Suvarna is a banking and real estate specialist.
Client feedback
“Prompt responses.” – Banking and finance
“Professional service, timely deliverables and focused approach.” – Corporate and M&A
“Lawyers are process driven, courteous and knowledgeable.” – Corporate and M&A
“The team had a pragmatic approach, short response times and was in general very supportive.” – Corporate and M&A
“They took a resolution approach.” – Dispute resolution
“Lawyers have a thorough understanding of the matter, diligence and responsiveness. They take off the client the worries of what needs to be done in the matter.” – Dispute resolution
“They provide speedy, to-the-point advice and a willingness to clarify all issues asked. They are very knowledgeable on Indian labour laws and give practical advice that works.” – Labour and employment
“They are aware of recent changes and help close issues without unnecessary technicalities” – Media and entertainment
Rishi Anand
“He is approachable.”
Roochi Loona
“Prompt responses and good working knowledge of the law.”
Gaurav Mistry
“Knowledgeable, friendly and professional.”
Vikrant Singh Negi
“Always prepared and proactive with solutions.”
Dinesh Pardasani
“He is very diligent, accessible and hard-working for the task assigned.”
Ajay Shaw
“He takes a focused and balanced approach.”
Suyash Srivatava
“Sharpness in thought, and clarity and speed in advice.
Work highlights
Advised MO Alternate Investment Advisors and Motilal Oswal Home Finance on their debt investment in Atva Real Estate Developers and Skyscape Developers.
Key clients
Apollo Asia, Godrej Properties, HDFC Capital, ICICI Prudential, Piramal Group, Prestige Group, Shapoorji Pallonji Group.
Fox & Mandal is a full-service law firm that has roots going back to 1896. It has a team of more than 50 lawyers in Kolkata and has a strength in regional real estate work. The firm is active in corporate and M&A, private equity, dispute resolution and restructuring and insolvency matters. Managing partner Debanjan Mandal is the key contact. The corporate team was boosted by the addition of partner Akshat Pande from Alpha Partners, while the disputes team gained from the experience and joining of counsel Kunal Vajani from BlackRobe Chambers.
Client feedback
“Fox & Mandal is a well-established law firm based in India that has been providing legal services for over 125 years. The firm is known for its deep experience in the Indian legal system, which allows them to provide effective legal advice and representation to clients. Fox & Mandal also boasts a team of experienced lawyers who specialise in various areas of law, including corporate law, litigation and arbitration. Their client-focused approach is another positive attribute that sets them apart from other law firms. They take the time to understand their clients' needs and goals and work closely with them to achieve the best possible outcomes. Fox & Mandal's strong reputation for professionalism, integrity and commitment to excellence has helped them establish themselves as one of the leading law firms in India. Additionally, they have embraced technology and innovation to streamline their operations and provide clients with efficient and effective legal services.” – Dispute resolution
“We appreciate the firm’s transparency, honest opinions and team replacement capabilities.” – Real estate
Debanjan Mandal
“My company and Mr. Debanjan Mandal have been associated with one another for a significant amount of time. He has been in charge of all of our legal issues concerning real estate and has also been aiding us with the dispute resolution component. He has always provided guidance that is both straightforward and succinct regarding legal strategy. We were able to accomplish the most in the shortest amount of time and with the fewest potential complications as a direct result of his guidance.”
Work highlights
Acted for DSK Real Estate and Tata Housing Development Company against the Commandant Ordinance Depot of Kolkata in relation to a building plan sanctioned by Kolkata Municipal Corporation for the construction of a luxury real estate project.
Represented the hotels division of ITC as it faced a period of unrest and derailment of regular functioning of two of its Kolkata properties due to the actions of a local leader.
Advised the president of the Board of Control for Cricket in India and the former captain of the Indian cricket team in acquiring a residential bungalow plot.
Fox Mandal has a full-service offering and is best known for its real estate and IP practices. It has been busy building up its client portfolio in the healthcare, retail, IT and real estate sectors. Its corporate and M&A practice continues to gain traction on larger matters and it moves up a notch in the M&A table. On the IP side, the firm has been honing its focus on startup players, even offering pro bono advice as their clients work their way up. Key figures for real estate and IP are, respectively, partners Purnima Kamble and Santosh Vikram Singh. Managing partner Shuva Mandal, who is active on numerous transactions and disputes matters, is a respected figure in the market. Corporate specialist Rohan Singh joined the M&A team from Trilegal last autumn.
Client feedback
“Very responsive.” – Construction
“They are time-sensitive and discharge their obligations as per schedule. They have a team of legal professionals who look for perfection in their work and protect their clients’ interests in litigation.”– Dispute resolution
“They are commercially aware and technically skilled.” – Intellectual property
Apurupa Gundu
“Quick to understand the details shared and raises appropriate queries to fill the gaps.”
Santosh Singh
“He's knowledgeable and commercially astute, a winning combination.”
Rajesh Vellakkat
“Very communicative.”
Work highlights
Acted for Candor Kolkata One Hi-Tech Structures on its SEZ and Non-SEZ acquisition.
Advised Techna Infrastructure on its development of commercial buildings.
Boutique law firm Goswami & Nigam has a young team that is experienced in a variety of dispute resolution matters and has unique expertise in the real estate sector. On the contentious front, the firm engages in commercial litigation, contentious employment issues, property disputes, intellectual property disputes, recovery suits and alternative dispute resolution. For real estate, the group focuses exclusively on core conveyancing and transaction support work. The two-year old firm has offices in Gurgaon, Chandigarh and Delhi, and is on track to opening up a Bangalore office. The firm has seen enormous growth in advising and representing start-ups and micro, small and medium enterprise clients.
Work highlights
Advised Vajram Group on the joint development of two large real estate parcels, which also involved debt restructuring, project financing, securitisation of the debt and eventually, the acquisition of one of the land parcels.
Assisting HLP Group on the due diligence and documentation of all its real estate projects.
Acting for Affinity Group on the launch of a greenfield integrated development, which will be one of the largest of its kind in the TriCity area.
Key clients
RSC Infratech Developers
IndusLaw is a modern full-service firm that is rapidly coming up the ranks as a challenger to the established order of top legacy firms. This year, it moves up a notch in the real estate rankings and expanded by opening a new office in Gurugram. In total, the pan-India coverage includes offices in Bangalore, Chennai, Delhi, Hyderabad, Mumbai and the aforementioned Gurugram. The firm takes pride in its growing prominence among sophisticated clients for its private equity and TMT work. It specialises in working with investors across the full funding lifecycle and on a variety of funds including sector-specific ones such as technology, life sciences, e-commerce, retail and infrastructure. The capital markets team remains active, securing some of this year’s largest mandates for both issuers and bookrunners on more than 24 transactions. While maintaining a secure foothold at the forefront of ECM work, it is busy diversifying its suite of experience into newer products such as SPACs and business trusts, block deals and debt capital markets work.
There were several noteworthy inflows and outflows of talent this year. Banking partner Ashutosh Narang joined from Luthra and Luthra Law Offices last October. Corporate specialists Amrit Mehta and Shantanu Jindel joined from Majmudar & Partners and JSA, respectively, while partners Anubha Sital and Divya Varghese departed for in-house roles. On the disputes side, partners Maneesha Kongovi and Sourasubha Ghosh arrived from Argus Partners and Hariani & Co, respectively.
Client feedback
“The team are go-getters, always there to work on challenging assignments, and provide clarity on strategy in litigations. It helps us achieve the desired results” – Banking and finance
“Prompt client service, and accuracy in legal representation and advisory.” – Banking and finance
“Their legal expertise is top-notch and add to that the constant availability of folks to resolve any sudden issues that might arise makes them a perfect partner for any startup.” – Corporate and M&A
“The team is excellent. Litigation is the core area and very efficient. We are satisfied with their performance. Cost-wise, they also are very reasonable.” – Dispute resolution
“Solution-oriented, understands the clients’ needs very quickly, and provides well-thought resolutions.” – Dispute resolution
“Proactive, knowledgeable, good negotiators, and has good command on the subject.” – Investment funds
“We recommend them for their ability to understand business and define the solution from multiple angles; the availability of the team; their turnaround time; the involvement of senior partners in brainstorming and solutioning; and the ease of working with other ecosystem partners.” – Media and entertainment
“They are highly responsive and in touch with the local market. It is very hard to stay on top of the latest trends in legal terms from afar. They have an eye toward ensuring that appropriate and proper legal protections are in place, with a commercial sensibility to finding compromise.” – Private equity
“Great advice, super-responsive, creative problem-solvers, and a collaborative team.” – Private equity
“Interesting, practical and give timely insights.” – Private equity
“Proactive and knowledgeable teams across both practices.” – Private equity
“Very client-centric, highly available, responsive and caring. They have a long-term focus, not transaction focus.” – Private equity
“Sensitive to client needs, approachable and provide holistic advice.” – Private equity
“The team understands client objectives and priorities, and as a result gives us the specific advice we need.” – Private equity
“We appreciate their attention to detail, sector-specific knowledge in the areas we invest, deep knowledge about our positions in investments, and very personable and committed team.” – Private equity
Ranjana Adhikari
“She is very positive and has good domain knowledge. She shows a good balance of risk management and business solutioning, and has a great ability to bring in specialists as and when needed.”
Unnati Agrawal
“Goes out of her way to devise a solution. She has very good domain knowledge and communication skills.”
Aakash Dasgupta
“Excellent communication and expertise.”
Mayukh Dutta
“Very collaborative, founder-first attitude. Also he is approachable, personable, down-to-earth and solution-oriented.”
Sushmita Gandhi
“She is always there for any assignment and helps us in complex assignments. She has a positive approach to any issue at hand and has clarity of thought for devising suitable strategies to deal with such issues. The insights and advice provided by Ms. Sushmita has been quite helpful in overcoming the challenges faced in transactions and litigations.”
“Friendly, prompt, intelligent and articulate.”
“Very effective and quick.”
Anindya Ghosh
“Anindya has great legal expertise and is always available to guide us on any issues where his expertise is needed.”
“His industry knowledge is excellent. Anindya is very solution-oriented while being able to keep our interests in mind as well as the general regulatory landscape. He is very easy to interact with and personable, and he is always available when we need him.”
“Very focused on solutions to move things along. Diligent, knowledgeable, affable and pleasant to work with. He takes time out to explain things and always kept our best interests in mind. He is a fair negotiator.”
Amit Jajoo
“Extremely meticulous and solution-oriented.”
Pallavi Kanakagiri
“She is very knowledgeable about legal implications and is very good at applying this to our specific concerns.”
Winnie Shekhar
“Always available. Incredibly responsive. Works to advocate on behalf of clients, while finding a middle-ground and reasonable approach to meeting points of dispute. Creative in thinking.”
“Combines a sharp eye on legal issues with a commercial sensibility to getting a deal across the line. Provides useful and practical advice. Not overly aggressive but a good advocate for our positions.”
“Knowledgeable and responsive.”
Work highlights
Advised Sarla Infrastructure in the lease transaction with JP Morgan Services in relation to a lease of office space.
Assisted Present Infra and Goldfinch Buildtech on the acquisition of lands measuring 112 acres.
Based in New Delhi, KKL Partners is a full-service law firm with strengths in real estate, corporate and M&A and aviation work. The team routinely advises offshore and onshore clients looking to create business synergies through international tie-ups via equity or debt investments or technology alliances. The firm is led by founding partner Aashish Vats.
Client feedback
“Very prompt service and quick turnaround time on the entire transaction. Also, the negotiations on term sheets were superb.” – Private equity
Aashish Vats
“He takes the best interest of the client and has the ability to meticulously negotiate with reason in transactions.”
Work highlights
Advised Arise IIP India on leasing its corporate office in Gurugram.
Acted for PN Safetech in leasing a land parcel in Sitarganj, Uttrakhand.
Represented Apna Chemist in leasing more than 30 commercial outlets in the Delhi NCR Region.
Kochhar & Co has a pan-India presence and excels in a multitude of practice areas, from dispute resolution to real estate. Its technology and telecommunications practice is lauded as one of the best in the country. Stephen Matthias is a leading technology lawyer who heads the firm’s first-rate team. Managing partner and litigation specialist, Rohit Kochhar is the main contact.
Work highlights
Assisted Target in a highly complex “built to suit” transaction that involved the sublease of an entire building in Bangalore in a fully fitted out and customised condition.
Advised Visa on its establishment of its offices in Bangalore and Mumbai.
Represented online travel company, Expedia, on the expansion of a cyber park in the city of Gurugram.
Key clients
Aristocrat Technologies, Arm, LinkedIn, Northern Trust, PricewaterhouseCoopers
Dispute resolution firm Mansukhlal Hiralal & Co was established over 110 years ago and has offices in Mumbai and Delhi. In addition to a full array of transactional practices, the firm is known for handling the complete spectrum of contentious work from civil and criminal litigations up to the Supreme Court to international arbitrations. The Securities and Exchange Board of India is a key client, trusting the firm for many of its litigations. Managing partner Rajendra Shah, commercial disputes partner Bhushan Shah and real estate disputes specialist Purvi Asher are the firm’s key contacts. The firm moves up a notch in the real estate rankings this year and it was empanelled with the Oil and Natural Gas Corporation for dispute resolution advice.
Work highlights
Acted for Pali Hill Daffodils Co-operative Housing Society on a redevelopment project of the society building.
Represented the Creado family in a litigation wherein an owner of the adjacent property was claiming a right of easement over the said land belonging to the client.
MDP & Partners is recognised for its work in the banking and finance, and real estate spheres. It is empanelled with the Securities and Exchange Board of India and has offices in Mumbai and Delhi. Managing partners Nishit Dhruva and Ashok Paranjpe, and senior partner Ashok Mishra are all banking and finance specialists, with the former two also focusing on real estate and disputes. Last year the firm managed to conclude over 20 loan-related transactions.
Work highlights
Acted for the purchaser a proposed property acquisition in Andheri, Mumbai and currently leased to a leading Indian hotel chain.
Advised a non-banking financial institution for a title due diligence of a property situated in Thane.
Assisted the builder in respect of a redevelopment project in Mazgaon Mumbai.
Defending developers NHP Realty & Helicite Residency in a case filed by the trustees of the Banganga Talav on the grounds of alleged contamination and obstruction of flow of water into the Talav.
Representing Hubtown and Hubtown Solaris Maintenance against a suit filed by the Society seeking an injunction against the further construction of floors in the building known as Hubtown Solaris.
Key clients
Montecarlo, Oil and Natural Gas Corporation, Sumeru Hospitality, Vedanta Foundation
Poovayya & Co has a strong reputation for its robust dispute resolution and real estate practices. Its corporate practice has also been active in the mid-market space and in specialist sectors. With the firm being based out of Bangalore, the firm has worked extensively with technology companies, on both the buy-side and the sell-side. The firm’s disputes team, led by partners Manu Kulkarni and Pallavi Smriti, is empanelled with the Election Commission of India and the Export-Import Bank of India. Partners Siddhartha George and Deepak Raj are key partners in the real estate department.
Work highlights
Representing, in separate deals, Broadridge Financial Solutions, Cisco Systems India, Commvault Systems India, Google India, McKinsey Global Services India and VMWare Software India on their real estate requirements in the country.
Advising Thomson Reuters India Private Limited with respect to restructuring of existing lease of various business premises across India.
Key clients
ANA ARC
Established in the summer of 2021 by a group of partners from Luthra and Luthra Law Offices, Saraf and Partners has established itself well as a highly regarded full-service firm with core strengths in projects, corporate and M&A, private equity and restructuring and insolvency. The team consists of no less than 34 partners and over 180 personnel. By the end of 2022, the teams had executed more than $43 billion worth of transactions and in the spring of 2023, it acquired boutique real estate law firm, SRGR Law Offices and its 20-strong team. Key contacts include founder Mohit Saraf, and senior partners Bikash Jhawar, Vaibhav Kakkar, Manmeet Singh, Vikrant Kumar, Sanjeev Sharma and Saroj Jha. The firm welcomed a trio of R&I specialists: Ankur Khandelwal from Kochhar & Co, Anugrah Robin Frey from Luthra and Luthra Law Offices and Sairam Subramanian from Shardul Amarchand Mangaldas & Co.
Client feedback
“We appreciate they understand our business vis-à-vis legal attributes.” – Dispute resolution
“Responsive, expert and practical.” – Regulatory
Satadru Goswami
“We value his depth of knowledge and understanding.”
Vaibhav Kakkar
“Practical, responsive, understands risk mitigation and a great communicator.”
Manmeet Singh
“Good understanding of business and a man of details.”
Work highlights
Assisted Renew Power on land aggregation and acquisition of lands for development of renewable energy projects on a pan-India basis.
SNG & Partners is known for its sophisticated and experienced handling of banking and finance matters. As a core area of the firm, banking and financial services clients are very comfortable turning to the firm for their legal needs. It counts a wide range of lenders and non-financial banking companies as loyal clients, and works on all types of finance-related transactions. The firm is active in acquisition finance, structured trade finance, leveraged transactions, real estate loans, debt securitisation, debt structuring, structured loans and project financing. The firm offers advisory services in capital markets and real estate as well, with the market acknowledging its strength in debt capital markets issuances, particularly for rupee-denominated deals. Last year, the firm entered into an exclusive alliance with another full-service law firm, R&P Partners. Together, the two firms have broadened their professional bandwidth, as well as expanded their geographical foothold with offices in New Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Coimbatore, Cochin, Madurai and Singapore. Managing partners Sanjay Gupta and Rajesh Narain Gupta, and senior partner Amit Aggarwal are the key contacts.
Client feedback
“The lawyers that we deal with are knowledgeable and demonstrate rigour in their work. Their approach is practical wherein they balance out business interests with the requirements of the law.” – Banking and finance
“We value their in-depth knowledge on banking practices, and crisp and prompt legal advice on various matters. They are available to support us at any given point and take a professional approach to all tasks assigned.” – Banking and finance
Anju Gandhi
“She has an excellent knowledge of banking law. She’s a good listener, excellent communicator and accepts feedback positively. She is solution-oriented while keeping the interests of the bank paramount. Also, she is extremely responsive. In the case she does not have an immediate answer to a query, she accepts that she needs to check and then reverts after having studied the matter.”
Ashok Sathyanathan
“Professional approach, available and good problem-resolving capacity. An excellent adviser.”
Work highlights
Advised Shriram Properties on various stages of its acquisition of a real estate project called the Golden Ira.
Represented Rare Township on filing its complaint against an investor before the Maharashtra Real Estate Regulatory Authority.
Mumbai-headquartered Solomon & Co is a full-service law firm that was founded in 1909. The team has a reputed real estate practice, with its senior specialist Jonathan Solomon active for over 55 years in this space. Its practice has deep roots in the state of Maharashtra, where it has long-forged relationships with several of the largest real estate developers in and around Mumbai. Over half of the real estate group speak the local language of Marathi and they cover all manners of real estate law and advisory. Solomon and managing partner Aaron Solomon are the key contacts.
Work highlights
Advised Infrastructure Leasing & Financial Services on the sale of its headquarters to Brookfield Asset Management.
Assisted Sabarmati Capital One on selling several premises of the iconic Gujarat International Finance Tec-City to several successful bidders.
Acted for Yamazaki Mazak India on the acquisition of leasehold rights of a land parcel in Pune for the setup of a factory and on the construction of a factory unit through the appointment of Jones Lang LaSalle.
Key clients
Ahuja Developers, Bhojwani Constructions, Hicons Developers, Metro Developers, Nisarg Nirman Developers
Tatva Legal Hyderabad is a sizable, full-service firm with offices in Telangana and Andhra Pradesh. Its core pillars are banking and finance, dispute resolution, labour and employment, investment funds, private equity, R&I and real estate. Managing partner Shailendra Komatreddy is the key contact. The firm welcomed corporate specialist Kaushalya Guduru from Avendus Capital and disputes manager Palash Taing from S&A Law Offices in the past year.
Work highlights
Advised Avenue Supermarts in setting up DMart stores and warehouses across the states of Telangana and Andhra Pradesh.
Founded in 2015, Veritas Legal’s bread-and-butter are its corporate and M&A and private equity practices, with its dispute resolution offering also rapidly rising in prominence. This year, it debuts in the banking and finance, and construction rankings. For its size, the firm punches above its weight, amassing an impressive deal flow and volume last year. It consistently placed in respected M&A and PE league tables within the top 10 of all Indian law firms. Sector-wise, it is deepening its footprint in pharmaceuticals and life sciences, real estate, and technology and telecommunications. Founder and managing partner Abhijit Joshi is a highly respected M&A and private equity lawyer, and partners Rahul Dwarkadas and Neveille Mukerji specialise in dispute resolution. Other key partners include Kunal Doshi and Tushar Raut. Recently, the firm welcomed banking and finance partner Jhinook Roy and corporate specialist Shubhangi Pathak from Khaitan & Co and Tuli & Co, respectively.
Work highlights
Advised India Forge & Drop Stampings in the acquisition of parcels of land in Chennai.
Acted for K Raheja Corporation on its acquisition of land in Mumbai.
Wadia Ghandy & Co is one of the oldest full-service law firms in India, established in 1883. The firm has offices in five cities and houses more than 150 fee earners. The firm’s banking and finance offering is widely respected and this year it ascends into the Highly Recommended tier for this work. The firm also boasts strengths in aviation, disputes and real estate. The key contacts include senior partners Shabnum Kajiji and Hamid Moochhala, and joint managing partners Ashish Ahuja and Dhawal Mehta.
Work highlights
Advised HDFC in enforcing its mortgage when Jet Airways defaulted on its loan.
Advised Panchshil in its acquisition of the leasehold interest of HUL in the land at Airoli.
As one of the top law firms in India, Economic Laws Practice is highly ranked across the banking and finance, competition/antitrust, dispute resolution, regulatory and tax practices. It has seven offices across India, in Mumbai, New Delhi, Pune, Chennai, Bangalore, Ahmedabad and Gift City. The firm’s renowned tax group is acknowledged by peers as a market leader. It is led by tax specialists Rohit Jain, Nishant Shah, Harsh Shah, Kumar Visalaksh and Gopal Mundhra. Firm managing partner and main contact Suhail Nathani is often a lead partner in competition cases, as well as on private equity and M&A deals. The dispute resolution group welcomed associate partner Abhay Chattopadhyay from Amit Sibal’s Law Chambers.
Client feedback
“Their work and conduct in all matters entrusted to them were to the best of our satisfaction.” – Corporate and M&A
“Very strong subject-matter expertise, timely delivery and cost-efficient.” – Dispute resolution
“The lawyers give extremely prompt and practical advice and they understand the importance of long-term relationships as compared to other law firms that focus on short-term gains by always thinking about their legal fees. It has a very diverse and experienced group of partners that cover every department and sector which enables them to act as a one-stop shop for everything legal.” – Dispute resolution
“Local knowledge, good advice.” – Dispute resolution
“Very responsive, wide range of expertise and great team.” – Labour and employment
“The team is very professional in delivering assignments in a timely fashion and can be relied on for their astute and strategic advice. The team has the relevant talent and capability in each practice area which is mentored by a seasoned senior partner and the firm has been able to position itself very well for catering to the specific needs of each sector. The practice areas of tax, commercial advice and litigation has been well tested over time and gives them an edge over similarly placed competitors in delivering value to the corporate client.” – Oil and gas
“The firm and the team that works with us knows what we focus upon on deals and works with us effectively to ensure the documents close quickly and also ensure that we are adequately protected in the transaction.” – Private equity
“Sincere, diligent, particular, quick to revert, and they understand my needs and requirements.” – Real estate
“Easily accessible and they take a pragmatic approach.” – Regulatory
“Effective coordination between the parties and timely follow-up on outstanding action items to reach a timely resolution.” – Regulatory
“It has a team of great lawyers. We appreciate their understanding of laws, preparedness with cases, representation skills, approach and availability.” – Tax
“The lawyers are prompt, detailed, give practical insights and have sharp technical acumen.” – Tax
“They are highly skilled, technical, commercially astute and understand the business in which we operate. Their work product is excellent and timely.” – Tax
Vinay Bhutani
“He is very responsive, quick to find solutions and maintains very good relationships with the other side. That is very important for us in private equity to not ruffle feathers with the promoter during negotiations.”
Heena Chheda
“Extremely wise, particular, diligent, trustworthy and an overall excellent lawyer.”
Alok Jain
“Availability, local knowledge and advice.”
Rohit Jain
“I have known Rohit for more than 15 years. He is an excellent trusted adviser, pragmatic, very technical and understands our business well.”
Aakanksha Joshi
“Responsible behaviour and timely completion of tasks entrusted to her.”
Ritesh Kanodia
“Humble, prompt, technical and has solid business acumen.”
Yashojit Mitra
“Accessible, takes a pragmatic approach, and has good knowledge of our business needs.”
“Effective communicator that builds relationships between the parties.”
Jitendra Motwani
“Understands the client’s situation and aims to give practical solutions rather just legal remedies by the book. He is very knowledgeable in every field and treats every matter with equal importance.”
“He is a subject-matter expert. He is confident and provides timely delivery.”
Suhail Nathani
“Positive, frequent communications, and solution-oriented.”
Abhishek Sanyal
“He is very responsive, provides excellent advice and solutions, and is backed by a great team.”
Naresh Thacker
“We appreciate his experience, knowledge, representation skill, approach, understanding and availability.”
“Naresh is well placed for handling big stakes corporate litigations and leading such litigations from legal and strategic fronts. He is solution-centric and puts a lot of emphasis on offering innovative solutions and strategic advice on litigation matters.”
Work highlights
Advised the National Stock Exchange of India to set up India’s first bullion exchange in the International Financial Services Centre of Gujarat.
Assisted the UK Department of International Trade in its ongoing FTA negotiations with India.
Key clients
Credai, Gems and Jewellery Export Promotion Council, Indian Premier League teams.
Finsec Law Advisors has a well-regarded financial services regulatory practice that sits in the top tier of the regulatory ranking. It specialises in advising clients in the areas of financial, securities and investment laws. The firm provides banking regulatory advice along with litigation representation in courts of all levels. The partners are regarded as some of the top Securities and Exchange Board of India specialists in the market. The firm also contributes to securities and financial market reform projects and policy work. It previously advised parliament’s standing committee on finance on securities law amendments and routinely interacts with regulators to improve regulatory structures. Managing partner Sandeep Parekh and partner Anil Choudhary are banking, corporate and regulatory specialists. All the submitted work matters this year remain confidential.
Work highlights
Advised Accel India on regulatory requirements in relation to its investment in a small finance bank.
Represented Digital Gold India in relation to the launch of a gold leasing platform, the first of its kind in India.
Full-service firm Juris Corp excels in banking and finance, and capital markets. It features a robust trade and commodity finance practice, a rarity in the market, and is well-regarded for its debt issuance offering. The firm ascends into the top tier of the banking table for its prowess in this space. The capital markets team was busy last year advising on cross-border business opportunities to offshore clients. Senior partner Jayesh H is known for his diverse expertise in banking and finance, capital markets, corporate and M&A, private equity, and restructuring and insolvency. The firm has offices located in Mumbai, Delhi and Bangalore. Partner Vedanarayanan Lakshmanan joined from IndusInd Bank last spring.
Client feedback
“Very good turnaround time, receptive to client needs, and reliable because they are always a phone call away. We receive a lot of partner time and they deliver quality work.” – Banking and finance
“Approachable and prompt.” – Banking and finance
Apurva Kanvinde
“She’s very receptive, available, with good turnaround times. She works well under pressure and is good at problem-solving and providing solutions, along with coordinating well with clients.”
Saurabh Sharma
“Knowledgeable.”
Work highlights
Advised multiple financial institutions in developing structures for their transactions for capturing netting as well as providing them with template amendment agreements in relation to capital adequacy norms.
Founded in 2012, Alpha Rajan & Partners is a full-service law firm with offices in New Delhi and Bengaluru. It has a corporate and commercial focus, with much work centred on M&A, restructuring and insolvency, dispute resolution, real estate and private equity. The key contacts are managing partners and co-founders Rajan Gupta and Akshat Vikram Pande. The firm has friendly firm collaborations with European law firm Bajer and Bajerova Advokati and Vietnamese firm ALB & Partners.
Work highlights
Advised Umbrella Infocare on initiating its insolvency proceedings.
Representing UTM Packaging India and its IRP, RP and liquidator in relation to the dissolution of the company.
Key clients
Common Room Non Profit Foundation For New Entrepreneurs, Lightspeed Advisory Services India
Established in the summer of 2021, Anirudh Associates is a Bangalore-based multi-service firm with a focus on restructuring and insolvency. It has partners also dedicated to corporate and M&A, banking, and project development as well. With respect to its R&I practice, the team is experienced with the full spectrum of work related to the Insolvency and Bankruptcy Code (IBC) and undertakes all manners of corporate restructuring work. The key contact is seasoned litigator Anirudh Suresh.
Work highlights
Represented the minority shareholders against Bharti Telecom which was going for reduction of share capital.
Advised the Jalan Fritsch consortium on its takeover of bankrupt Jet Airways by drafting its resolution plan and briefing the senior advocate for the plan’s approval.
Assisted Suraksha Realty, Lakshdeep Investments and Finance Private on their successful bid for Jaypee Infratech.
Key clients
Albatross Inlands Ports, AllianceBernstein Solutions, SPJ Cargo, Sun Pharmaceuticals
Argus Partners continues to do well in the rankings on the back of its impressive client rosters and strong deal flows. This year the firm moves up in Banking and Finance and debuts in the private equity table. A notable development was the significant expansion of Argus’ corporate and M&A team with the joining of four new partners from Algo Legal and one from DSK Legal. The Algo arrivals – Abhinav Bhalaik, Ankit Guha, Armaan Patkar and Neha Madan – deepen the firm’s bench strength and expertise in the startup and emerging companies space.
The firm’s core practices cover banking and finance, corporate and M&A, dispute resolution, and restructuring and insolvency. On the corporate and M&A side, the firm regularly advises blue-chip clients on governance, structuring and compliance issues. The firm has a pan-India presence with offices in New Delhi, Mumbai, Delhi, Bengaluru and Kolkata. Its New Delhi office was launched in 2022 and caters specifically to the firm’s corporate clients. Krishnava Dutt, the firm’s managing partner, specialises in banking and finance, corporate and M&A and restructuring and insolvency.
Work highlights
Representing the liquidator of Concast Steel & Power in one of the largest liquidation cases under the insolvency and bankruptcy code.
Acted the Resolution Professional in the insolvency proceedings of Supertech.
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 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 and Yash Ashar. The firm also has a unique bench of retired senior bureaucrats from key Indian regulators, such as the Reserve Bank of India and the Securities and Exchange Board of India, to provide an extra layer of expertise.
The corporate team welcomed three partners from various leading law firms: head of media, education and gaming Aarushi Jain joined from Nishith Desai Associates, Rishiraj Bhatt joined from Kanga & Co and Siddharth Hariani joined from Phoenix Legal. Disputes veteran Gauri Rasgotra left last year to establish her own boutique firm.
Work highlights
Represented Reliance Projects & Property Management Services in connection with the submission and implementation of resolution plan for Reliance Infratel.
Key clients
Adani Group, Alvarez and Marsal, Eight Capital, ICICI Bank, JSW Group, Reliance Industries, State Bank of India, Union Bank of India.
The market holds Link Legal in high regard for its strengths in aviation, construction, energy and infrastructure work. The firm is a first port of call for infrastructure players due to its vast experience in large-scale, long-term infrastructure projects and regulator relationships, and the ability to go beyond transaction basics into extra layers of service like financing insurance. The corporate team welcomed four new partners in the last 12 months, such as Jinni Sinha from IndusLaw and Sayantani Dutta from Wadia Ghandy & Co. Infrastructure specialist Rajesh Sehgal joined from Trina Solar. Atul Sharma and Nusrat Hassan are key partners for energy and infrastructure, and corporate and M&A, respectively. Managing partner Anand Srivastava is also a projects and finance contact. The firm recently combined with Dentons to become part of the global law firm’s sprawling international network.
Client feedback
“Timely and excellent delivery in all matters.” – Aviation
“The firm plans the activities well and delivers the services within the agreed timelines.” – Capital markets
“Very good knowledge and experience of the subject. It provides research-based representations and approach towards a matter.” – Energy
“They handled things very well, and have a knowledgeable partner and team. Approachable 24/7.” – Private equity
Namita Das
“Knowledgeable and approachable. Effective management.”
Milind Jha
“Quick turnaround for queries raised, timelines have been always met, and he is solution-oriented.”
Aditya Singh
“Rich knowledge, innovative, research based approach, and provides right and practical advice.”
Anand Srivastava
“Good approach and a problem-solver.”
Work highlights
Advised the resolution professional and Duff & Phelps India concerning the insolvency resolution process of Gitanjali Gems. The team is also providing litigation support in various courts and tribunals.
Engaged by the resolution professional of Jyoti Structures under the Insolvency and Bankruptcy Code.
Dhir & Dhir Associates is best known for its restructuring and insolvency, and capital markets practices. The firm was one of the first entrants into the stressed assets advisory space back in the early 1980s. Thus, its long-standing experience of nearly four decades in the insolvency realm makes it a go-to firm with clients appreciating its substantial, well-rounded contentious and non-contentious practice. The firm is currently handling more than a quarter of the non-performing assets insolvencies in the country. The core practices of managing partners Alok Dhir and Maneesha Dhir are in restructuring and insolvency, and corporate and M&A. Alok Dhir is also known for his expertise in real estate and private equity, while Maneesha Dhir is active in telecommunications, media and technology as well as dispute resolution. Another key partner is disputes and restructuring and insolvency specialist Sachin Gupta.
Client feedback
“We would recommend the firm for its timely responses and being reasonable with regards to the drafting of the documents from both lender and borrower perspective.” – Banking and finance
Shikha Singh
“Has timely responses and provides clarity in discussions.”
Work highlights
Represented Trident Infra Homes and Romano Infrastructure as it seeks resolution plan approval before the National Company Law Tribunal.
Assisted Jain Irrigation Systems on its ongoing restructuring proposal with its lenders under the 2019 RBI Circular.
Acted for Gati Infrastructure in the ongoing insolvency resolution process as initiated by one of the operational creditors of the company.
Full-service firm DSK Legal has enjoyed the fruits of its expansion last summer, climbing up in the rankings across a number of areas such as capital markets, IP and pharmaceuticals and life sciences. After the seismic shift of adding more than 60 new lawyers, most from Luthra and Luthra Law Offices, the firm continued to build out its teams. It welcomed corporate and finance specialists Srinivas BR, Siddharth Suresh and Karan Ajitsaria from Dua Associates. M&A expert Kunal Mehra, and disputes partners Prashant Mishra, Prashant Pakhiddey and Saleem Hasan Ansari, followed former colleagues over from Luthra and Luthra Law Offices, while R&I consultant Sanjeev Pandey joined from the State Bank of India.
Under the guidance of top-flight real estate partner Sajit Suvarna, the firm’s real estate offering is regarded as one of the strongest in Mumbai. With an added capacity on the corporate side from recent additions, the firm posted a strong showing by closing over 50 sizeable M&A deals. The firm’s specialised media and entertainment department is well received by the market. It boasts many A-list Bollywood film stars as clients, along with local and international media houses and platforms like Disney and Star India. Key contact and managing partner Anand Desai is a venerable figure in the legal industry for banking and finance, corporate and M&A, disputes, and media and entertainment. Deputy managing partner Suvarna is a banking and real estate specialist.
Client feedback
“Prompt responses.” – Banking and finance
“Professional service, timely deliverables and focused approach.” – Corporate and M&A
“Lawyers are process driven, courteous and knowledgeable.” – Corporate and M&A
“The team had a pragmatic approach, short response times and was in general very supportive.” – Corporate and M&A
“They took a resolution approach.” – Dispute resolution
“Lawyers have a thorough understanding of the matter, diligence and responsiveness. They take off the client the worries of what needs to be done in the matter.” – Dispute resolution
“They provide speedy, to-the-point advice and a willingness to clarify all issues asked. They are very knowledgeable on Indian labour laws and give practical advice that works.” – Labour and employment
“They are aware of recent changes and help close issues without unnecessary technicalities” – Media and entertainment
Rishi Anand
“He is approachable.”
Roochi Loona
“Prompt responses and good working knowledge of the law.”
Gaurav Mistry
“Knowledgeable, friendly and professional.”
Vikrant Singh Negi
“Always prepared and proactive with solutions.”
Dinesh Pardasani
“He is very diligent, accessible and hard-working for the task assigned.”
Ajay Shaw
“He takes a focused and balanced approach.”
Suyash Srivatava
“Sharpness in thought, and clarity and speed in advice.
Work highlights
Represented Imagicaaworld Entertainment in relation to the resolution plan submitted by Malpani Parks Indore.
Key clients
MTC Business, Prestige Estates Products, UPL, Steel Strips Wheels.
Founded by a former Economic Laws Practice partner in 2019, Equilex is a restructuring and insolvency-focused firm. It also has a robust offering for debt and financing work, fundraising transactions, and banking and regulatory advisory. The firm regularly advises all parties on Insolvency and Bankruptcy Code (IBC) matters, including advising clients in restructuring transactions outside of the IBC process. Its client roster ranges from public banks and resolution professionals to NBFCs, funds and MNCs. Insolvency specialist Deep Roy is the key contact.
Work highlights
Advised Grant Thornton Bharat on determining the liability of the IL&FS group companies and directed resolution.
Represented the committee of creditors of Sintex during the corporate insolvency resolution process.
Acted for the monitoring committee of Ramsarup Industries on the implementation of the resolution plan and compliance.
Founded in 2015 with offices in Delhi and Mumbai, Gravitas Legal offers bespoke, quality representation on projects, investments, M&A, disputes, and real estate matters. Last year, the firm expanded its reach into the insolvency, securities, and white-collar crime spaces. The firm moves up a notch in the dispute resolution ranking this year. It has niche experience advising private equity funds and working on pure fund structuring mandates. In addition to regular project finance and corporate finance documentation, the firm excels in novel and atypical transactions around the 5/25 flexible structuring scheme and special drawing rights. Gravitas is empanelled with several banks and financial institutions including PTC India Financial Services, HDFC Bank, State Bank of India and L&T Infra Finance. Banking and insolvency partner Tanuj Sud is a key contact at the firm. Other notable personnel include corporate partner Varij Sharma and disputes specialists Rajeev Aggarwal and Rahul Gaikwad. Aggarwal joined the firm in April from RA Law & Co.
Work highlights
Advised Singhi Infrapower Projects before the National Company Law Tribunal.
Represented ACCIL Corporation under section 7 of the Insolvency and Bankruptcy Code.
HSA Advocates has a commanding reputation in the market as a preferred firm for energy, construction and infrastructure work. Sophisticated clients know this is the firm for complex, multi-party, long-term infrastructure projects, as it has decades of experience working with all stakeholders from the beginning to the end of a project life cycle. The firm provides a complete suite of solutions for development, financing, transactions, restructuring and dispute resolution support. The firm is routinely found advising on power, road, port, airport, oil, gas, clean energy and special economic zone projects. Founding partner and projects legend Hemant Sahai is a key contact. The firm welcomed corporate and funds specialist Satish Kumar Anand and real estate partner Himani Singh Sood from SNG & Partners. Banking partner Sharmil Bhushan left for Kochhar & Co.
Client feedback
“Regarding their expertise, I can confirm they have deep knowledge and expertise in the practice area where we asked for their legal assistance. On their responsiveness, as a company and as I personally value the timely communication, they provide quick turnaround times on projects, and proactive outreach to clients on our external service providers. I can confirm that they were super-responsive both for meetings and via emails with their esteemed knowledge and positive attitude. Speaking of their client-focused approach, I had the impression that they prioritise clients' needs and goals that's why they provide tailored legal solutions that meet clients' specific needs.” – Regulatory
Jivesh Chandrayan
“Here are some examples that we appreciate about him: his adaptability, communication skills and time management, which at the end let us receive the kind of legal service we want.”
Work highlights
Acted for ICICI Bank before the Debts Recovery Tribunal and the Delhi High Court.
Assisted Pramerica Life Insurance and TATA Power Consolidated Provident in National Company Law Tribunal proceedings.
Best known in the market for its leading tax and IP practices, Lakshmikumaran & Sridharan also provides in-depth advisory and representation in competition, corporate, real estate, and restructuring and insolvency matters. It has 13 offices across 11 cities and opened a new office in Kochi two years ago. For IP, the firm ascends into the top tier. It is famed for its contentious patent know-how, where the subject matter requires deep and detailed knowledge. The firm is a market leader in plant genomics and plant variety protection. The firm’s robust and historical tax practice specialises in GST, income tax, customs and litigation. The firm’s key contacts are IP practice head Malathi Lakshmikumaran, who is a specialist in the biotechnology, chemistry and pharmaceuticals sectors. Managing partner V Lakshmikumaran is a go-to name for tax matters. Notable clients in the arbitration practice area occupy the steel, power, consumer goods, hospitality and tourism, and infrastructure sectors.
Work highlights
Defended liquidator for securing refund of VAT excess paid by the company under liquidation.
Defended a corporate debtor before the National Company Law Appellate Tribunal against the admission of Section 9 filed by the operational creditor.
Luthra and Luthra Law Offices is a well-rounded full-service firm that has been a market leader in multiple practice areas over the past two decades. Sadly, founding partner and legendary rainmaker Rajiv Luthra passed away earlier this year. The firm has been replenishing its ranks by welcoming no less than 10 partners into the fold, ranging from corporate specialist Abhilekh Verma from Kochhar & Co to disputes expert Shreya Sircar from Bharucha & Partners. The firm is proud of its market-leading clean energy practice, prioritising niche deals that have a positive environmental or social impact.
Client feedback
“Partner attention and input have been key to the engagement. Commitment to acting as true advisers to the transaction and prioritising client interest even when it meant calling off the transaction and limiting the scope of the engagement.” – Corporate and M&A
“Very professional and timely updates.” – Dispute resolution
“Reactive and proactive.” – Intellectual property
Shireen Dhar
“Very responsive with practical solutions.”
Pranshu Paul
“Professional and helpful.”
Navin Syiem
“Navin has always been astute and accurate in his understanding of our issue, succinct in his advice, always mindful of time, prompt in his feedback and highly adaptive to the client's personality.”
Work highlights
Represented the committee of creditors in the corporate insolvency resolution process of Reliance Capital.
Acted for a prospective resolution applicant for Lanco Amarkantak Power.
Key clients
ArcelorMittal India, Crest Steel & Power Private, Future Group.
Majmudar & Partners is a medium-sized, high-quality corporate and financial law firm that excels in corporate and M&A, private equity, and labour and employment areas. On the deal side, the firm is not a volume player as its clients engage the team for sophisticated and complex transactions. Peers acknowledge its labour and employment practice, which is led by Neerav Merchant and Raja Sujith Niruthambath. The firm and its managing partner Akil Hirani are well regarded in the Mumbai market. In the past 12 months, the firm has seen good growth in the non-banking financial corporation sector on regulatory advice, fintech, finance deals and M&A transactions. In addition, banking litigation is growing.
Client feedback
“Professional.” – Corporate and M&A
“Very responsive, timely and detail-oriented. They can bring in SMEs quickly for specific areas when executing a project.” – Corporate and M&A
“They were knowledgeable with India corporate law and advice on corporate structures for M&A activities.” – Corporate and M&A
“They are very efficient and always provide prompt feedback.” – Labour and employment
“Very responsive, very thorough.” – Technology and telecommunications
Rukshad Davar
“Responsive and knowledgeable.”
Akil Hirani
“Very factual, to the point. He’s practical and provides trusted advice.”
“Very responsive, thoughtful, delegates appropriately, and does thorough work.”
Sinjini Majumdar
“He provides very thorough and timely feedback.”
Neerav Merchant
“He is professional.”
Advised Axis Bank in money recovery.
Acted for SABIC UK Petrochemicals in a winding-up petition it filed against Punj Lloyd before the Delhi High Court.
MDP & Partners is recognised for its work in the banking and finance, and real estate spheres. It is empanelled with the Securities and Exchange Board of India and has offices in Mumbai and Delhi. Managing partners Nishit Dhruva and Ashok Paranjpe, and senior partner Ashok Mishra are all banking and finance specialists, with the former two also focusing on real estate and disputes. Last year the firm managed to conclude over 20 loan-related transactions.
Work highlights
Acted for Union Bank of Indian in insolvency proceedings against Sterling Biotech.
Advising the liquidator of S Kumars Nationwide before the NCLT.
Represented the Bank of India before various tribunals and the Supreme Court in a case against Housing Development and Infrastructure during its insolvency resolution process.
Key clients
Bank of Baroda, Canara Bank, Orbit Investment Securities Services, Punjab National Bank
Phoenix Legal is a full-service firm that is recognised for its banking and finance, infrastructure, insurance, dispute resolution, labour and employment and restructuring and insolvency practices. This year it moves up in the capital markets table. The four co-founding partners are the main contacts: Manjula Chawla, Saket Shukla, Abhishek Saxena and Sawant Singh. Three partners joined last year, including disputes specialists Gaurav Dudeja and Aman Avinav, and projects partner Pallavi Bedi. The latter joined from Luthra and Luthra Law Offices.
Work highlights
Represented the resolution professional during the corporate insolvency resolution process (CIRP) of debtor Chengapalli Tollways.
Acted for CM Shah Consortium and MITC Rolling Mills as the resolution applicant in the CIRP of Shree Vaishnav Casting.
PSL Advocates and Solicitors is a New Delhi-based boutique with a focus on commercial arbitration, insolvency, tax, corporate advisory, and commercial litigation. The firm sits on multiple government panels, such as State Bank of India, the Central Board of Indirect Taxes and the Airports Authority of India, and it uniquely has specialist Russia, Israel, Japan, Dubai and Turkey desks. The firm recently expanded and opened up in Bengaluru to add to its roster of offices in New Delhi, Mumbai and Chandigarh. Co-founders and managing partners Sameer Jain and Sandeep Bajaj are the main firm contacts. Co-founding partner Siddharth Jain is another name to note. Partner Angad Sandhu left for an in-house role at Jindal Group.
Work highlights
Represented the ex-promoter of Bhushan Power and Steel in a civil appeal pending before the Supreme Court where the resolution plan submitted in relation to the company has been challenged on various grounds.
Engaged by the liquidator of Petron Engineering Construction for arbitration proceedings against a Chinese company.
Formerly known as Singh & Associates, S&A Law Offices was established in 2002 by Manoj Singh. The full-service law firm is recognised for its corporate and M&A and dispute resolution offerings. The firm now houses more than 300 legal professionals across its four offices in Delhi, Gurgaon, Mumbai and Bangalore. Sector experience includes infrastructure, real estate, green energy, power, oil and gas, shipping, mining, manufacturing and transportation. This year, the firm moves up a tier in the construction table. Key contacts are disputes specialist Singh, joint managing partner Daizy Chawla, joint managing partner Gunita Pahwa, and senior partners Vijay Singh and Nilava Bandyopadhyay.
Client feedback
“Quick turnaround and sharp commercial acumen.” – Corporate and M&A
Daizy Chawla
“She’s a good relationship manager, always accessible and quick to respond.”
Work highlights
Successfully represented Jindal Saw on its groundbreaking merger with Sathavahana Ispat, which included a restructuring resolution plan in accordance with the recent Supreme Court judgment in Rainbow Papers.
S&R Associates has market-leading capital markets, and corporate and M&A practices, a regular choice for selective clients. Its competition, disputes and insolvency practices are growing from strength to strength every year and perform well in their respective categories in our rankings. The firm moves up a tier in the banking and finance table. The firm is not a high-volume outfit but features on big-ticket mandates that require sophisticated lawyering. A highlight matter for the firm was playing a lead role for ArcelorMittal in its precedent-setting joint acquisition of Essar Steel with Nippon Steel, an instruction that required the savvy capabilities of its corporate, disputes and insolvency teams. Capital markets head Sandip Bhagat is highly respected in the market, with a peer acknowledging: “[There is] absolutely no comparison, he is simply the best.” Partners Rajat Sethi and Niti Dixit lead the M&A and dispute resolution teams, respectively.
Client feedback
“They are responsive to queries, provide valuable input and negotiate our position well.” – Banking and finance
“Quality of work is stellar.” – Corporate and M&A
“They are the most hard-working legal advisers I have ever worked with. They are very responsive, smart and hands-on.” – Corporate and M&A
Arpita Garg
“She is very approachable, knowledgeable with legal matters, provides valuable guidance and strongly negotiates our position on certain matters.”
Mohit Gogia
“Responsive and helpful.”
Rajat Sethi
“He is very responsive, knowledgeable, always attentive and available.”
Work highlights
Engaged by Sravanthi Energy to restructure credit facilities provided by a lender consortium led by IFCI and including Varde Partners, CLSA and Ares SSG Capital Management.
Established in the summer of 2021 by a group of partners from Luthra and Luthra Law Offices, Saraf and Partners has established itself well as a highly regarded full-service firm with core strengths in projects, corporate and M&A, private equity and restructuring and insolvency. The team consists of no less than 34 partners and over 180 personnel. By the end of 2022, the teams had executed more than $43 billion worth of transactions and in the spring of 2023, it acquired boutique real estate law firm, SRGR Law Offices and its 20-strong team. Key contacts include founder Mohit Saraf, and senior partners Bikash Jhawar, Vaibhav Kakkar, Manmeet Singh, Vikrant Kumar, Sanjeev Sharma and Saroj Jha. The firm welcomed a trio of R&I specialists: Ankur Khandelwal from Kochhar & Co, Anugrah Robin Frey from Luthra and Luthra Law Offices and Sairam Subramanian from Shardul Amarchand Mangaldas & Co.
Client feedback
“We appreciate they understand our business vis-à-vis legal attributes.” – Dispute resolution
“Responsive, expert and practical.” – Regulatory
Satadru Goswami
“We value his depth of knowledge and understanding.”
Vaibhav Kakkar
“Practical, responsive, understands risk mitigation and a great communicator.”
Manmeet Singh
“Good understanding of business and a man of details.”
Work highlights
Acted for the former resolution professional of Bhushan Steel during its corporate insolvency resolution process. Tata Steel was the successful resolution applicant.
Assisted resolution applicant, Adani Power, in preparation of its resolution plan for acquisition of KSK Mahanadi Power Company.
Shardul Amarchand Mangaldas & Co has a commanding presence in the market with top-tier practices across all practice areas and industry sectors. It is routinely considered one of the best firms in a highly competitive market for transactions and a first port of call for selective international clients. This year it is boosted into the uppermost category for its pharmaceuticals and life sciences expertise. The firm offers the best of all worlds: large capacity, pan-India presence, depth of expertise and experience, and market-leading professionals. It regularly advises the largest multinationals, Indian conglomerates, and private equity players and funds. The capital markets team continues to represent issuers in many of the country’s largest IPOs and the M&A group remains unmatched for its high-stakes, high-value transactions. Pallavi Shroff is well known for her extensive experience in dispute resolution, and Shardul Shroff is renowned for his expertise as a general corporate lawyer. There were multiple notable movements in the course of the last 12 months.
Client feedback
“Excellent technical knowledge. Sound understanding of market practices and associated risks.” – Banking and finance
“Thorough research, excellent drafting of affidavits and responsive teams. They take ownership of the engagement task and a professional approach.” – Banking and finance
“They have practical positions on legal interpretation and always deliver in a timely fashion.” – Capital markets
“Timeliness, efficiency and expert in the field of competition law.” – Competition/antitrust
“The team understands business, and provides clear advice shorn of unnecessary legalese. They are always looking to solve problems for the business, and they have become trusted advisers over the course of our engagement with them.” – Competition/antitrust
“Excellent, well-rounded team which provides specific and pointed advice.” – Corporate and M&A
“High-quality legal advice, and knowledge of market and regulatory developments.” – Corporate and M&A
“Very responsive and provide clear advice.” – Dispute resolution
“Strong understanding of the market, subject matter and time management.” – Media and entertainment
“Great team that is always available, has high competence and is able to close points.” – Private equity
“SAM has one of the strongest restructuring and insolvency teams which is supplemented by a wide spectrum of expertise that is required to resolve complex restructuring situations. Their experience and network in the region spanning insolvency, corporate law, debt and equity capital markets, regulations and litigation was instrumental in the successful outcome in a number of situations.” – Restructuring and insolvency
Manika Brar
“She has a positive attitude, good communication skills and great domain knowledge.”
Sayantan Dutta
“He has a hands-on approach and takes tough stands when needed.”
Jay Gandhi
“Excellent PE knowledge and personalisation.”
Radhika Indapurkar
“Dedicated, hard-working, good communications, good drafting skills, and excellent domain knowledge.”
Ila Kapoor
“Good team leader. Very responsive and great communications.”
Abhishek Parekh
“Great, well-rounded lawyer. He handled the negotiations and documentation very well.”
Veena Sivaramakrishnan
“We valued her depth of technical knowledge, coupled with a sound understanding of market practice.”
“She’s a top lawyer in restructuring and insolvency in the region with innovative solutions to solve complex, multi-stakeholder restructuring situations. She has an extremely strong ability to solve difficult problems and provide timely recommendations that have proven to be correct on a number of occasions.”
Puja Sondhi
“Great leader who manages situations very well.”
Yaman Verma
“We were very impressed by the ownership taken by Yaman. He provides excellent advice to businesses in a manner that is easy to understand for people with non-legal backgrounds. He is our go-to adviser for new ventures, as he helps us identify and remove potential roadblocks. He has a deep technical understanding of competition law, as well as the commercials of the e-commerce space, which he combines to provide cutting-edge advice.”
Work highlights
Acted for Edelweiss Asset Reconstruction Company as the majority secured and financial creditor of GTL Infrastructure. This case is crucial for settling the issue of recognition of a secured creditor’s rights over the assets of a borrower as superior to the rights created in favour of the holder of an award or decree under an arbitration or litigation respectively. It will delineate the limitation on the jurisdiction of an arbitral tribunal to affect the right of third-party secured creditors.
Advised the resolution professional of Videocon Industries and 12 other connected group companies in the insolvency proceedings of Videocon. This matter is one of first to set a benchmark for substantial consolidation of the insolvency process of group companies.
Tandon & Co focuses on a handful of core practice areas, namely banking and finance, corporate and M&A, dispute resolution, intellectual property and real estate. The firm is best known for its IP expertise in contentious and non-contentious matters. IPR specialist Kunal Tandon is the founder and managing partner.
Work highlights
Represented the directors of Petrolube India to challenge the allegation imposed by the resolution professional.
Acted for a corporate debtor, Laxmi Foils, to maintain that according to the facts and circumstances, the amount sought by the financial creditors was neither payable nor due.
UKCA and Partners is a full-service law firm with historical roots going back 34 years. It has three partners, one of counsel and 15 associates. The firm is noted for its strengths in banking and finance, corporate and M&A, restructuring and insolvency, and real estate. This year it moves up one ring in the R&I rankings, a testament to its specialty in this area. Managing partner Manisha Chaudhary has experience in all practice areas, notably corporate and M&A and dispute resolution.
Client feedback
“UKCA & Partners are extremely client-centric, and provided excellent service and well-researched legal documentation in support of the legal action taken.” – Corporate and M&A
“They have very strong professional skills in corporate restructuring backed by unparalleled litigation management expertise.” – Corporate and M&A
Manisha Chaudhary
“Very focused, committed and hard working.”
Navin Dahiya
“Very thorough understanding of the subject, with a positive attitude ready to take everything for a matter.”
Work highlights
Advising Indraprastha Gas and Wave Megacity Centre on their respective CIRP proceedings.
Acting for the investors of HBD Dairies and Allied on their recovery of investment under the IBC.
Representing Larsen & Toubro as the operational creditor on filing an application initiating the CIRP of Three C Universal Developers.
Mulla & Mulla & Craigie Blunt & Caroe is a recognisable name in the market for its curated and specialised shipping practice. Its banking and insurance prowess is also well regarded. The firm, which houses more than 80 fee earners and has offices in Mumbai, Delhi and Bangalore, has expanded into the areas of subsea, oil and gas exploration and pipeline replacement projects. Key partner Shardul Thacker is one of the country’s leading shipping experts.
Client feedback
Shardul Thacker
“He is a knowledgeable, well-known and respected lawyer in the market.”
Work highlights
Acted for Höegh LNG, a global floating storage and regasification unit (FSRU) provider, in relation to disputes which arose between Höegh LNG and the charterer, Western Concessions, with regard to a 10-year charter of the FSRU chartered in India.
Advised Petronet LNG for recovery of damages from the vessel MV Cubal and its interested parties pursuant to an incident of heavy contact with its South Jetty Mooring Dolphin 1 (MD-1) at the terminal which resulted in heavy damages to MD-1’s structure and its associated equipment.
Key clients
Borr Drilling, Boskalis, JSW Steel, Noble Drilling, Paragon Offshore, Petronet LNG, Tata NYK, Total India, Universal Energy Resources, Royal IHC, West P&I, Zim Integrated.
Established in 2011, Amicus started as a boutique transfer pricing firm headed by its founder, Ashutosh Mohan Rastogi. Since then, it has expanded to offer a full range of corporate and commercial legal services with five partners and 20 other fee earners. The firm’s tax practice, though still best recognised for its transfer pricing expertise, has become an end-to-end purveyor of all taxation areas ranging from direct tax and international tax to GST. Clients come from the financial services and real estate sectors, and the firm has seen an uptick in its early-stage private equity work. Other key partners include corporate and PE specialist Shivi Rastogi, corporate partner Madhav Rastogi, litigation specialist Kinshuk Chatterjee and new real estate due diligence partner Yogesh Chaudhry.
Client feedback
“Very thorough.” – Real estate
“They describe very well and they respond to queries very quickly.” – Tax
“Amicus provides workable tax advice taking the business imperatives into account. A smart team of well-trained professionals who understand commercial as well as tax dynamics is their major strength. They are our one-stop shop for tax advice especially when it comes to international tax and transfer pricing.” – Tax
Garvit Gosain
“He provides timely and practical advice. He has quick turnaround times.”
Madhav Rastogi
“Very thorough.”
Work highlights
Secured a favourable win from the Delhi High Court for its client concerning reassessment proceedings initiated against a non-resident Indian.
Represented Angus Dundee India in challenging the tax department’s special valuation branch.
Assisted DE Diamond in securing a transfer pricing win before the Delhi Tax Tribunal.
Key clients
Dabur International, Ekatra Hospitality Ventures India, InfrasoftTech India.
ASC Legal is a tax specialist firm headed up by Aseem Chawla, the former tax head at Amarchand & Mangaldas & Suresh A Shroff & Co. The firm works with large corporate clients on a variety of tax matters including international tax, inbound and outbound tax structuring, cross-border tax issues and tax litigation. In addition to the corporate tax practice, the firm regularly handles real estate and succession planning, and trusts and private client work for high-net-worth individuals and trustees, family offices and financial institutions.
Work highlights
Represented Hometrail Buildtech before the Supreme Court of India with respect to indirect tax issues.
Advised Hitachi Astemo Haryana before various appellate forums on their tax matters.
Acted for a chartered accountant company before the tribunal and challenged various additions sought by the assessing officer, with one of significant issues being in relation to a bogus loan transaction.
BMR Legal is a boutique tax firm with expertise in policy, disputes, transaction advisory, alternative dispute resolution and transfer pricing law. Managing partner Mukesh Butani is a renowned tax practitioner, highly respected for his decades of experience, intricate knowledge of the subject matter, and courtroom mastery. In addition to the core tax areas, the firm supports clients on alternative dispute resolution, including advance pricing agreements, mutual agreement procedure and advance rulings, and acts as expert witness on treaty and transfer pricing law. The firm is committed to and engaged in thought leadership and research to improve the overall tax policy infrastructure of the country. Partner and GST specialist Tarun Jain is another key contact. International tax specialist Seema Kejriwal and customs and trade expert Shankey Agrawal round out the leadership.
Work highlights
Represented IBM India private in a Supreme Court litigation against the Commissioner of Income Tax in Bangalore. The matter was related to the characterisation of payments made to non-resident entities for packaged software.
Acting for Canon India Private in its Supreme Court appeal against the Deputy Commissioner of Income Tax in a case relating to marketing intangibles. The court’s decision should settle the issue whether advertising, marketing and promotion expenses are considered an international transaction.
Key clients
3M India, CLSA India, International Tractors, Lionbridge Technologies, Marvell India
As one of the top law firms in India, Economic Laws Practice is highly ranked across the banking and finance, competition/antitrust, dispute resolution, regulatory and tax practices. It has seven offices across India, in Mumbai, New Delhi, Pune, Chennai, Bangalore, Ahmedabad and Gift City. The firm’s renowned tax group is acknowledged by peers as a market leader. It is led by tax specialists Rohit Jain, Nishant Shah, Harsh Shah, Kumar Visalaksh and Gopal Mundhra. Firm managing partner and main contact Suhail Nathani is often a lead partner in competition cases, as well as on private equity and M&A deals. The dispute resolution group welcomed associate partner Abhay Chattopadhyay from Amit Sibal’s Law Chambers.
Client feedback
“Their work and conduct in all matters entrusted to them were to the best of our satisfaction.” – Corporate and M&A
“Very strong subject-matter expertise, timely delivery and cost-efficient.” – Dispute resolution
“The lawyers give extremely prompt and practical advice and they understand the importance of long-term relationships as compared to other law firms that focus on short-term gains by always thinking about their legal fees. It has a very diverse and experienced group of partners that cover every department and sector which enables them to act as a one-stop shop for everything legal.” – Dispute resolution
“Local knowledge, good advice.” – Dispute resolution
“Very responsive, wide range of expertise and great team.” – Labour and employment
“The team is very professional in delivering assignments in a timely fashion and can be relied on for their astute and strategic advice. The team has the relevant talent and capability in each practice area which is mentored by a seasoned senior partner and the firm has been able to position itself very well for catering to the specific needs of each sector. The practice areas of tax, commercial advice and litigation has been well tested over time and gives them an edge over similarly placed competitors in delivering value to the corporate client.” – Oil and gas
“The firm and the team that works with us knows what we focus upon on deals and works with us effectively to ensure the documents close quickly and also ensure that we are adequately protected in the transaction.” – Private equity
“Sincere, diligent, particular, quick to revert, and they understand my needs and requirements.” – Real estate
“Easily accessible and they take a pragmatic approach.” – Regulatory
“Effective coordination between the parties and timely follow-up on outstanding action items to reach a timely resolution.” – Regulatory
“It has a team of great lawyers. We appreciate their understanding of laws, preparedness with cases, representation skills, approach and availability.” – Tax
“The lawyers are prompt, detailed, give practical insights and have sharp technical acumen.” – Tax
“They are highly skilled, technical, commercially astute and understand the business in which we operate. Their work product is excellent and timely.” – Tax
Vinay Bhutani
“He is very responsive, quick to find solutions and maintains very good relationships with the other side. That is very important for us in private equity to not ruffle feathers with the promoter during negotiations.”
Heena Chheda
“Extremely wise, particular, diligent, trustworthy and an overall excellent lawyer.”
Alok Jain
“Availability, local knowledge and advice.”
Rohit Jain
“I have known Rohit for more than 15 years. He is an excellent trusted adviser, pragmatic, very technical and understands our business well.”
Aakanksha Joshi
“Responsible behaviour and timely completion of tasks entrusted to her.”
Ritesh Kanodia
“Humble, prompt, technical and has solid business acumen.”
Yashojit Mitra
“Accessible, takes a pragmatic approach, and has good knowledge of our business needs.”
“Effective communicator that builds relationships between the parties.”
Jitendra Motwani
“Understands the client’s situation and aims to give practical solutions rather just legal remedies by the book. He is very knowledgeable in every field and treats every matter with equal importance.”
“He is a subject-matter expert. He is confident and provides timely delivery.”
Suhail Nathani
“Positive, frequent communications, and solution-oriented.”
Abhishek Sanyal
“He is very responsive, provides excellent advice and solutions, and is backed by a great team.”
Naresh Thacker
“We appreciate his experience, knowledge, representation skill, approach, understanding and availability.”
“Naresh is well placed for handling big stakes corporate litigations and leading such litigations from legal and strategic fronts. He is solution-centric and puts a lot of emphasis on offering innovative solutions and strategic advice on litigation matters.”
Work highlights
Represented Bharti Airtel on an issue concerning tax at source being deducted on payments made as commission or brokerage.
Acted for Otis Elevators in a litigation relating to the issue of excise duties.
Key clients
Bharti Airtel, JSW Steel, McNroe Consumer Products, Sun Pharma Laboratories.
Majmudar & Partners is a medium-sized, high-quality corporate and financial law firm that excels in corporate and M&A, private equity, and labour and employment areas. On the deal side, the firm is not a volume player as its clients engage the team for sophisticated and complex transactions. Peers acknowledge its labour and employment practice, which is led by Neerav Merchant and Raja Sujith Niruthambath. The firm and its managing partner Akil Hirani are well regarded in the Mumbai market. In the past 12 months, the firm has seen good growth in the non-banking financial corporation sector on regulatory advice, fintech, finance deals and M&A transactions. In addition, banking litigation is growing.
Client feedback
“Professional.” – Corporate and M&A
“Very responsive, timely and detail-oriented. They can bring in SMEs quickly for specific areas when executing a project.” – Corporate and M&A
“They were knowledgeable with India corporate law and advice on corporate structures for M&A activities.” – Corporate and M&A
“They are very efficient and always provide prompt feedback.” – Labour and employment
“Very responsive, very thorough.” – Technology and telecommunications
Rukshad Davar
“Responsive and knowledgeable.”
Akil Hirani
“Very factual, to the point. He’s practical and provides trusted advice.”
“Very responsive, thoughtful, delegates appropriately, and does thorough work.”
Sinjini Majumdar
“He provides very thorough and timely feedback.”
Neerav Merchant
“He is professional.”
Work highlights
Advised Acclime Holdings HK on M&A tax matters.
Provided advice for Abington Reldan Metals on permanent establishment and employee tax advice.
Tax specialist firm Nangia Andersen has recently diversified its offering beyond tax and transfer pricing to include other verticals such as ESG and advisory in the IT, defence, power, cybersecurity and forensics sectors. The team boasts over 800 professionals in India alone, and it is a member firm of Andersen Global in India. It has eight offices in Noida, New Delhi, Gurugram, Bengaluru, Mumbai, Chennai, Dehradun, and Pune. The team is led by chairman and founder Rakesh Nangia. He is an international tax and litigation specialist. Five new partners joined last year from various firms including Capgemini, KPMG and Grant Thornton.
Work highlights
Advised a healthcare-related business on corporate tax advisory in connection with key issues around the acquisition of business under the business transfer agreement on slump sale basis.
Acted for a HNWI on income tax implications on allotment of restricted units of US-based Limited Liability Corporation (LLC) against the services rendered and income received from various US LLCs.
Eight-year-old boutique tax firm Nitya Tax Associates is primarily focused on indirect tax advisory and related litigation. The firm recently added a new office in Mumbai, adding to its existing presences in Bangalore and Delhi that house more than 50 tax professionals overall. The firm holds the achievement of being one of the very few tax firms that successfully represented clients in obtaining favourable orders from various authorities for advance ruling under the newly introduced Goods and Services Tax (GST) regime. A few years back, the firm expanded to focus on matters of international trade and commerce, including advice on the recently introduced Customs Rules 2020 and Remission of Duties or Taxes on Exported Products Scheme. Managing partner Puneet Bansal is an indirect tax specialist with particular experience in the automobile, consumer goods and services, and pharmaceutical and health sciences sectors.
Work highlights
Successfully represented multiple clients including Atria Convergence Technologies and SKH Sheet Metals Components on carrying forward transitional credits in the GST regime.
Successfully acted for numerous automobile sector clients before the Directorate General of GST Intelligence on the demand of excise duty on drawings and designs provided by India’s leading car company.
TLC Legal is a tax specialist firm that houses lawyers, tax consultants and chartered accountants under one roof. The Reliance Group and all its entities are loyal clients of the firm for tax-related issues. The firm specialises in advisory and litigation relating to indirect tax covering GST, customs, central excise, service tax and VAT as well as foreign trade policy, the Foreign Exchange Management Act, and the Prevention of Money Laundering Act. The firm has offices in Delhi, Mumbai, Ahmedabad, Chennai and Bengaluru. The main contacts at the firm are all indirect tax specialists including managing partner Vipin Jain, senior partner Vishal Agrawal and partner Aqeel Sheerazi.
Represented Reliance Jio Infocomm as the appellants in a case against the Commissioner of CGST & Central Excise, Belapur before the Customs, Excise & Service Tax Appellate Tribunal.
Acted for appellants Sterlite Technologies in an anti-dumping dispute with the Union of India and Sumitomo Electricals.
Represented VVF India against the Government of Indonesia, Government of Malaysia, Government of Thailand and others for anti-subsidy investigation against the imports of fatty alcohol into India before the Designated Authority, Directorate General of Trade Remedies.
Vaish Law is praised by peers and clients for its tax expertise. It is lauded by industry insiders as being one of the very few go-to firms for complex contentious tax matters. The firm’s forte is in direct tax, with years of experience in representing clients in domestic tax, international tax and transfer pricing issues. The practice group comprises lawyers and chartered accountants, and is led by partners Neeraj Jain, Rohit Jain and Kavita Jha. The group maintains a close working relationship with tax guru and senior advocate Ajay Vohra, a former partner of the firm. The firm is also recognised for its corporate and M&A practice, helmed by joint managing partners Bomi Daruwala and Vinay Vaish. Tax specialist Gaurav Jain left to set up his independent practice.
Client feedback
“The team has an excellent ability to understand intricate and complex accounting, financial and tax issues, and share practical solutions thereof along with strong acumen to represent tax cases before appellate forums.” – Tax
Vinay Vaish and Rohit Jain
“They both demonstrate excellent technical skills, interpersonal skills and have positive attitudes.”
Work highlights
Successfully represented multiple MNCs and foreign companies on being reassessed and having prior notices issued quashed. This was a landmark judgment by the Delhi High Court, as it allowed around 1,400 writ petitions filed by taxpayers to be quashed.
Acted for Amadeus IT Group on the constitution of permanent establishment (PE) and the attributions of profits to PE in India.
Successfully represented oil and gas giant BG International as the appellant before the court in relation to an issue involving the taxability of payments received for various services rendered by the client to its group company. The client received a favourable ruling.
Key clients
Amadeus, Aptiv, Continental, Eicher Motors, GE, Goodyear, GlaxoSmithKline, Hero MotoCorp, Hindustan Unilever, LG Electronics, Maruti Suzuki, Nestle
IndusLaw is a modern full-service firm that is rapidly coming up the ranks as a challenger to the established order of top legacy firms. This year, it moves up a notch in the real estate rankings and expanded by opening a new office in Gurugram. In total, the pan-India coverage includes offices in Bangalore, Chennai, Delhi, Hyderabad, Mumbai and the aforementioned Gurugram. The firm takes pride in its growing prominence among sophisticated clients for its private equity and TMT work. It specialises in working with investors across the full funding lifecycle and on a variety of funds including sector-specific ones such as technology, life sciences, e-commerce, retail and infrastructure. The capital markets team remains active, securing some of this year’s largest mandates for both issuers and bookrunners on more than 24 transactions. While maintaining a secure foothold at the forefront of ECM work, it is busy diversifying its suite of experience into newer products such as SPACs and business trusts, block deals and debt capital markets work.
There were several noteworthy inflows and outflows of talent this year. Banking partner Ashutosh Narang joined from Luthra and Luthra Law Offices last October. Corporate specialists Amrit Mehta and Shantanu Jindel joined from Majmudar & Partners and JSA, respectively, while partners Anubha Sital and Divya Varghese departed for in-house roles. On the disputes side, partners Maneesha Kongovi and Sourasubha Ghosh arrived from Argus Partners and Hariani & Co, respectively.
Client feedback
“The team are go-getters, always there to work on challenging assignments, and provide clarity on strategy in litigations. It helps us achieve the desired results” – Banking and finance
“Prompt client service, and accuracy in legal representation and advisory.” – Banking and finance
“Their legal expertise is top-notch and add to that the constant availability of folks to resolve any sudden issues that might arise makes them a perfect partner for any startup.” – Corporate and M&A
“The team is excellent. Litigation is the core area and very efficient. We are satisfied with their performance. Cost-wise, they also are very reasonable.” – Dispute resolution
“Solution-oriented, understands the clients’ needs very quickly, and provides well-thought resolutions.” – Dispute resolution
“Proactive, knowledgeable, good negotiators, and has good command on the subject.” – Investment funds
“We recommend them for their ability to understand business and define the solution from multiple angles; the availability of the team; their turnaround time; the involvement of senior partners in brainstorming and solutioning; and the ease of working with other ecosystem partners.” – Media and entertainment
“They are highly responsive and in touch with the local market. It is very hard to stay on top of the latest trends in legal terms from afar. They have an eye toward ensuring that appropriate and proper legal protections are in place, with a commercial sensibility to finding compromise.” – Private equity
“Great advice, super-responsive, creative problem-solvers, and a collaborative team.” – Private equity
“Interesting, practical and give timely insights.” – Private equity
“Proactive and knowledgeable teams across both practices.” – Private equity
“Very client-centric, highly available, responsive and caring. They have a long-term focus, not transaction focus.” – Private equity
“Sensitive to client needs, approachable and provide holistic advice.” – Private equity
“The team understands client objectives and priorities, and as a result gives us the specific advice we need.” – Private equity
“We appreciate their attention to detail, sector-specific knowledge in the areas we invest, deep knowledge about our positions in investments, and very personable and committed team.” – Private equity
Ranjana Adhikari
“She is very positive and has good domain knowledge. She shows a good balance of risk management and business solutioning, and has a great ability to bring in specialists as and when needed.”
Unnati Agrawal
“Goes out of her way to devise a solution. She has very good domain knowledge and communication skills.”
Aakash Dasgupta
“Excellent communication and expertise.”
Mayukh Dutta
“Very collaborative, founder-first attitude. Also he is approachable, personable, down-to-earth and solution-oriented.”
Sushmita Gandhi
“She is always there for any assignment and helps us in complex assignments. She has a positive approach to any issue at hand and has clarity of thought for devising suitable strategies to deal with such issues. The insights and advice provided by Ms. Sushmita has been quite helpful in overcoming the challenges faced in transactions and litigations.”
“Friendly, prompt, intelligent and articulate.”
“Very effective and quick.”
Anindya Ghosh
“Anindya has great legal expertise and is always available to guide us on any issues where his expertise is needed.”
“His industry knowledge is excellent. Anindya is very solution-oriented while being able to keep our interests in mind as well as the general regulatory landscape. He is very easy to interact with and personable, and he is always available when we need him.”
“Very focused on solutions to move things along. Diligent, knowledgeable, affable and pleasant to work with. He takes time out to explain things and always kept our best interests in mind. He is a fair negotiator.”
Amit Jajoo
“Extremely meticulous and solution-oriented.”
Pallavi Kanakagiri
“She is very knowledgeable about legal implications and is very good at applying this to our specific concerns.”
Winnie Shekhar
“Always available. Incredibly responsive. Works to advocate on behalf of clients, while finding a middle-ground and reasonable approach to meeting points of dispute. Creative in thinking.”
“Combines a sharp eye on legal issues with a commercial sensibility to getting a deal across the line. Provides useful and practical advice. Not overly aggressive but a good advocate for our positions.”
“Knowledgeable and responsive.”
Work highlights
Acted for Pine Labs on its acquisition of Setu, an API infrastructure fintech startup.
Advised RooFoods on data privacy laws across the EU, India and the UK.
Established in 2018, the Law Offices of Panag & Babu has roots in white-collar crime, compliance and investigations. Since then, it has evolved to include corporate advisory and fintech as two more verticals. It boasts one of the largest dedicated white-collar crime teams in the country, acting for sophisticated clients at both the preventative and prosecution stages. The team has deep domain expertise in manufacturing, pharmaceuticals, fintech and gaming. The firm has offices in Bangalore, Mumbai and Delhi, and over 65 lawyers. Dispute resolution specialists Samudra Sarangi and Shruti Raina, alongside TMT partner Akash Karmakar are the key contacts.
Client feedback
“Extremely professional, great work, timely and methodical.” – Technology and telecommunications
Akash Karmakar
“He is extremely professional, meticulous and clear. He takes up responsibilities and is good with his knowledge.”
Work highlights
Advised Value Research on the launch of its app-based platform, drafted documentation for the app and website users, and structured the app, features and functionalities to navigate the securities regulations in India in a compliant manner.
Assisted Medtherapy Biotechnology, India's first oncology-focused gene therapy company specialising in clustered regularly interspaced short palindromic repeats (CRISPR) gene editing and engineered blood solutions for oncological treatments, on setting up its India operations.
Acted for Recko on its whole acquisition by Stripe. It was the buyer’s first acquisition of an Indian tech company.
Nishith Desai Associates prides itself as being a domestic firm with an international presence. It has market-leading labour and employment, media and entertainment, private equity, regulatory, tax, and technology and telecommunications practices. This year it moves up into the top tier for its pharmaceuticals and life sciences prowess. In the frontier space of technology, the firm has been a pioneer and cultivated a leading presence in privacy and data protection, crypto-assets and blockchain, payments, media, education, life sciences, and gaming and gambling. Vikram Shroff heads the labour and employment practice, while Vaibhav Parikh and Nishchal Joshipura are key partners for technology and private equity, respectively. The team’s corporate team was bolstered by the arrivals of team leads Diksha Maheshwari and Ayushi Pandey, who joined from Trilegal and JSA, respectively.
Client feedback
“The dispute involved cryptocurrency and an M&A transaction, and they brought their expertise in those areas, as well as their excellent experience in international arbitration, to bear very well on behalf of the client. They were detail-oriented while also focusing on the broader strategic aspects of the case. They understood the client's business objectives and focused on achieving those objectives.” – Practice area
“Attention to detail and client-centric.” – Dispute resolution
“Nishith Desai provides practical advice and is very responsive.” – Infrastructure
“Strong subject knowledge, provides market updates and lawyers have polite behaviour.” – Investment funds
“Positive and helpful attitude, strong domain experience, wide business experience, and good at hand- holding.” – Private equity
“We have found NDA to have a very practical and solution-oriented approach towards any legal issue. This has enabled us to take informed decisions on matters falling under grey areas of law.” – Regulatory
Milind Antani
“In-depth knowledge of the pharma industry both in theory as well as in the practical application of law. He is very approachable.”
Vyapak Desai
“Very smart with excellent strategic sense and insight.”
Prakhar Dua
“Prakhar is smart, practical and available.”
Nandini Pathak
“We appreciate her subject knowledge, communication and team handling.”
“She has vast knowledge and experience in the sector. We appreciate her willingness to provide suggestions and recommendations, and be a support.”
Ratnadeep Roychowdhury
“Puts clients first. Takes an independent fresh view of the situation. Has conviction.”
Work highlights
Advised the largest global and Indian crypto-asset businesses, such as FTX, WazirX, CoinDCX, ZebPay, Unocoin and others, on Indian law regulatory advice, in particular foreign exchange control laws, securities laws, consumer protection laws and advertising laws.
Advised various traditional and new-age businesses on commercialising their assets as NFTs as well as on the creation and structure of an NFT marketplace.
Pioneer Legal was established in 2019 by Satish Kishanchandani, Narendra Dingankar and Pritha Jha. Now, the numbers stand at six partners and more than 35 lawyers, with the firm rapidly gaining recognition for its high-quality corporate and private equity work. The firm moves up a tier in the technology and telecommunications table. The Pioneer team works across a swathe of sectors like education, advertising, healthcare, pharma, financial services and logistics. Apart from the corporate focus, the firm is also active in employment, insurance, IP, infrastructure, project finance and TMT matters. The firm has national expansion plans and will soon start its commercial litigation and arbitration practice in Mumbai. The other key partners and corporate specialists are Mayank Mehta, Shoubhik Dasgupta, Anupam Shukla and Sanket Jain.
Client feedback
“They are very knowledgeable, hard workers, and easy to work with.” – Corporate and M&A
Pritha Jha
“She is fun, loyal and hard-working.”
Work highlights
Advised Merkle in relation to key data privacy-related issues in connection with Dentsu Group's acquisition of Extentia.
Engaged by Multiverse Technologies to help set up a platform called MyLocal for the purpose of connecting cab drivers and service providers with its large customer base.
Established in 2016, Spice Route Legal is a rising star in the technology and telecommunications space, with one of the largest dedicated fintech and data practices in the country. It has four offices in Mumbai, Bangalore, Delhi and Kochi. The firm is also an active player in the mid-market M&A and private equity segment. The firm houses multiple generalist lawyers who have expertise in technology and telecommunications, media and entertainment, energy and healthcare. Key contacts include founding partners Mathew Chacko and Praveen Raju, who each have spent numerous years practising law outside of India. Their experience is the backbone of the firm’s “border-agnostic” deal perspective. The firm moves up a tier in the private equity and regulatory tables this year.
Work highlights
Advised HDFC Bank on its software outsourcing project to overhaul and modernise its technology.
Trilegal climbs up in several rankings this year, including infrastructure, insurance, pharmaceuticals and life sciences and real estate. It is quickly becoming a preferred choice for heavyweight clients, an alternative to the famous family firms that inhabit the top echelon of legal services providers. Its TMT practice continues to gain traction as a market leader, and its private equity and investment funds offering is going from strength to strength. The firm’s five-year-old asset management and fund formation practice has rapidly risen to be a power player. The dispute resolution team, led by Shankh Sengupta, has proven its worth with an elite group of litigators acting in high-stakes matters for premier clients.
Work highlights
Advised SES on its joint venture with Jio Platforms and Jio Space Technology for satellite-based broadband services.
Engaged by the Indian government for its initiative of an open network for digital commerce, the world's first initiative to unbundle e-commerce and democratise digital commerce.
