DL & F De Saram, one of the largest full-service law firms in Sri Lanka, specialises in domestic and cross-border matters across all practice areas, with its strongest practices in banking and finance, corporate and M&A, dispute resolution and intellectual property. The firm is highly capable of undertaking complex transactions and meeting client expectations. Key contacts for corporate and M&A and banking and finance work are Savantha De Saram and Prabash De Saram. The firm hired Vishwamithra Kadurugamuwa as consultant counsel in March 2025 from Kandima Residences, Maldives. He specialises in banking and finance, capital markets, corporate and M&A, private equity, construction, regulatory, restructuring and insolvency, competition/antitrust, and real estate matters.
Work highlights
Advising on the $225 million acquisition of Michelin Lanka's Construction Compact Line Business by CEAT of India, a transaction requiring careful navigation of Sri Lanka's regulatory framework. The deal's complexity stems from transferring a Board of Investment-approved business to a non-resident buyer through a newly established local entity, involving intricate structuring to address foreign-exchange controls and land ownership restrictions and ensure operational continuity post-transfer.
Key clients
China Development Bank, Evergreen Marine Corp (Taiwan), Sunshine Holdings
FJ & G De Saram, Sri Lanka's oldest law firm with a 183-year legacy, maintains its preeminent position through consistently evolving service standards and addressing changing market needs. The firm's extensive experience spans banking and finance, corporate and M&A, and dispute resolution, with its corporate law department being the largest and most successful division. As one of Sri Lanka's largest full-service firms, it has four main divisions: corporate law, real property, dispute resolution and intellectual property, each led by senior partners with over 25 years of experience. The corporate practice provides comprehensive advisory services across mergers and acquisitions, capital markets, investment, taxation, construction, telecommunications and infrastructure sectors. The dispute resolution team, established in 1995, was the first in Sri Lanka to provide in-house advocacy services. Key partners include Himali Mudadeniya, Manjula Ellepola and Tilani Ford.
Work highlights
Advising Citibank as dealer manager in Sri Lanka's groundbreaking International Sovereign Bond exchange, the first such transaction following the country's economic crisis and sovereign default. The December 2024 exchange marked a significant milestone in Sri Lanka's debt restructuring. The transaction established a new framework for exchanging defaulted bonds with newly issued instruments, requiring complex regulatory navigation and extensive due diligence.
Advising Dialog Axiata on its strategic acquisition of Bharti Airtel Lanka through a share swap, followed by the companies' amalgamation in August 2024. The transaction involved Bharti Airtel of India receiving a 10.355% stake in Dialog, valued at approximately $35 million. The complex deal required multiple regulatory approvals including from the Colombo Stock Exchange and Telecommunications Regulatory Commission, strengthening Dialog's market position in Sri Lanka's telecommunications sector.
Advising Air India in a significant dispute with its former general sales agent, successfully vacating interim orders that had prevented the airline from engaging a new agent in Sri Lanka. The matter progressed through multiple court levels including the District Court, Court of Appeal and Supreme Court. The successful outcome enabled Air India to proceed with its new contractual arrangements, maintaining operational continuity in the Sri Lankan market.
Key clients
Airports of the Regions, International Finance Corporation, Melco International Development
One of the oldest full-service law firms in Sri Lanka, Neelakandan & Neelakandan specialises in IP, dispute resolution, corporate and M&A, real estate, labour and employment, and more. With a track record spanning over 60 years, the firm has expanded into many industry sectors and has gained an extensive list of clientele. Sashidevi Neelakandan and Pranavan Neelakandan are among the key contacts.
Work highlights
Advising Marriot International on a legal dispute concerning the infringement of its trademark.
Advised a Canada-based company in negotiations with the government of Sri Lanka to set up a 100MW high-efficiency molten salt solar thermal power generation plant.
Established in 1997, Nithya Partners is one of the leading corporate law firms in Sri Lanka. The firm has participated in some of the largest cross-border investments and mergers and acquisitions of recent times and covers a variety of sectors including energy, technology and telecommunications, and banking and financial services. Chanaka De Silva, Aruna Samarajewa and Nirusha Ranjitkumar Ratnatunga are among the key contacts. The firm strengthened its real estate practice with the addition of senior associate Nirmala Vaz, formerly of DN Associates, in April 2024, and its dispute resolution team with senior associate Pradinath Sivanesan in June 2024. Senior associate Uween Jayasinha departed the firm's dispute resolution practice at the end of June 2024.
Work highlights
Advising a syndicate of nine Sri Lankan commercial banks, led by Hatton National Bank, on a loan facility to Sobadhanavi for Sri Lanka's first liquefied natural gas-based combined cycle power plant. The November 2024 transaction involved complex security structuring covering both movable and immovable assets, including comprehensive title due diligence on freehold and leasehold lands securing the landmark infrastructure financing.
Key clients
Hatton National Bank, People’s Bank Sri Lanka, Standard Chartered Bank
Sudath Perera Associates is a law firm with over 20 years’ history. It has established itself as a law firm offering legal solutions to both domestic and international clients in the areas of banking and finance, corporate and M&A, dispute resolution and intellectual property. Managing partner Sudath Perera is the main contact. The firm enhanced its corporate and commercial practice with the addition of partner Nipuni Samarasekara, who joined from SW Legal in May 2024.
Client feedback
“Sudath Perera Associates demonstrated strong local expertise, especially in navigating regulatory issues involving foreign investments and land ownership in Sri Lanka. Their responses were professional and to the point, and they provided practical advice tailored to our commercial needs.” – Corporate and M&A
Hafsa Ifthikar
“Hafsa is responsive, detail-oriented, and demonstrates a solid understanding of local legal and regulatory frameworks. She communicates clearly and delivers her work in a timely and professional manner. Her ability to provide concise, actionable advice was particularly valuable in a cross-border transaction context.”
Work highlights
Advising Pagero Lanka on its establishment as an offshore company within the Colombo Port City Special Economic Zone, marking a significant foreign direct investment in Sri Lanka's strategic development zone. The June 2024 project involved structuring operations for the B2B network provider under its “Secondary business of strategic importance” designation, navigating complex regulatory frameworks including foreign-exchange regulations, investment laws and labour requirements.
Key clients
Barbeque Nation MENA Holding, Everest Industrial Holdings, Execo Group, IFS
