Foreign firms in India

Allen & Overy

Allen & Overy is a top choice for its abilities to combine extensive Indian market and international expertise. It provides an outstanding blend of corporate, banking and finance, private equity and restructuring skills. It attracts some of the most complex or strategically important mandates, acting for international corporates entering the India market or India-based companies that are expanding out. Based in Singapore, the joint chairs of the India practice, are the talented Sheila Ahuja (disputes and arbitrations) and Pallavi Gopinath Aney (capital markets). Gautam Narasimhan is lauded as ‘preeminent’ for finance law in India and elsewhere in Asia. Other ‘top quality’ lawyers include Brendan Hannigan and James Mythen (both corporate/M&A). Clients also point to the network of talent that is on hand elsewhere in the world; a team can be mobilized from offices across Europe and Asia.

Practice head(s):

Sheila Ahuja; Pallavi Gopinath Aney (Joint Chairs)


‘A&O’s Singapore finance team, led by partner Gautam Narasimhan, is at the top of the profession for handling cross border India deals. They are efficient, diligent and highly effective. They know the ins and outs of India regulations, credit risks and pitfalls. They also work well with onshore counsel.’

‘A good mix of international experience and India market background. The team has worked well with us across offices and teams.’

‘Sheila Ahuja is a great team player and makes working with her team seamless. She and her team have the ability to turnaround work on tight timelines.’

‘Very strong banking team. Deep knowledge of India transactions.’

‘Gautam Narasimhan: he has become preeminent in finance law and deal management in South and Southeast Asia. He knows the risks and regs of India better than anyone offshore.’

‘Gautam Narasimhan is our go-to partner and works extremely hard to close deals expeditiously. John Curran is a very capable associate.’

‘Allen & Overy is one of our preferred international relationship law firms. They have maintained a leading position of being the trusted legal advisor to its long-standing clients in the Indian market or who have an interest in India. They collaborate with us on India-related matters to provide local counsel for their clients and we benefit from our longstanding relationship with them, as a leading international law firm. We enjoy strong working relationships with firms.

‘Overall, an excellent team. Key is their understanding of businesses and local practices all over the world. If you have a global deal, they are a top-quality outfit. The ability for different offices to come together and execute things seamlessly make them the top firm.’

‘Pallavi Gopinath Aney is an exceptional lawyer in the capital markets space. Great legal skills and knowledge. Very thorough. Communication skills are top-notch. She is very familiar with the Indian market.’

‘Brendan Hannigan and James Mythen: great partners based out of Singapore. Very dedicated and top quality professionals.’

‘Ash Tiwari is an excellent lawyer. She is proactive, clear, straightforward and pragmatic in her advice.’

Key clients

State Bank of India

BG Exploration and Production India Limited

Muthoot Finance Limited

Nissan Motor Co. Limited

REC Limited

Reliance Industries Limited

Suzlon Energy Limited

UltraTech Cement Limited

Jaiprakash Power Ventures Limited

Work highlights

  • Represented Nissan in a high-profile USD300m Singapore-seated arbitration against India under the 2011 Comprehensive Economic Partnership Agreement between Japan and India and the 2013 UNCITRAL Arbitration Rules. This matter won IBLJ deal of the year 2020.
  • Advised the arrangers on the USD600m to HT Global IT Solutions Holdings Limited (the Borrower), a Mauritius vehicle owned by certain Barings Private Equity Asia (BPEA) funds, guaranteed by HT Global Parent B.V. (the Guarantor), a Dutch vehicle owned by certain BPEA funds, and secured by, among other things, the shares in the Borrower and the Guarantor. This is the largest ever syndicated leveraged financing to date in India and is the largest to date (by number of banks) in APAC.
  • Advised Suzlon Energy Limited on the restructuring and consent solicitation relating to its USD546,916,000 step-up convertible bonds due 2019. Bondholders voted in favour of the bond restructuring on 6 April 2020. This transaction won IBLJ deal of the year 2020.

Herbert Smith Freehills LLP

With a ‘leading India track record and being a real insider to the Indian corporate worldHerbert Smith Freehills LLP provides its international and India-based clients with an all-encompassing range of services. It is especially notable in the projects and energy/renewables arenas, and has a second to none capital markets practice. It can combine such expertise with broad commercial advice, tax, and regulatory regimes as they apply to multiple jurisdictions. The firm’s commitment to India is demonstrated by its support to numerous NGO and charitable organisations concerned with health, education and diversity. From London Chris Parsons chairs the India practice and Alan Montgomery heads the M&A work. Other team heads include Roddy Martin (corporate); Andrew Cannon (disputes); Alexander Aitken (based in Hong Kong – finance) and Singapore-based Siddhartha Sivaramakrishnan who heads India Finance. Senior associate, Victor Chiew relocated from London to Singapore in early 2021; his expertise is corporate/M&A with a focus on the TMT sector. Nick Peacock has left the firm to join Bird & Bird LLP.

Other key lawyers:

Victor Chiew


‘Leading India track record and a real insider to the Indian corporate world.’

‘Longstanding local relationships and highly regarded hands-on team of superlative partners.’

‘Chris Parsons and Alan Montgomery provide game changing advice and have transformed the quality and standards for Indian M&A work. Joe Fisher from Tokyo is very helpful and practical. ’

‘A London-based team with strong English law pedigree, eg, for international financing documents, but with real local Indian market knowledge led by Indian nationals such as DJ Chak, which can be invaluable in adapting to local customs and practices. A perfect balance of technical expertise and commercial pragmatism, consistent with the HSF approach across other jurisdictions. Very reasonable fees relative to the market, which makes for a particularly outstanding quality:price ratio, coupled with a real willingness to adhere to fee arrangements. ’

‘DJ Chak embodies the perfection combination of English-law based international financing expertise, and local market knowledge that ensure effective and efficient cooperation with local firms and clients/counterparties. DJ is not only excellent technically, he is also responsive, efficient and friendly, and brings an infallibly calm and measured presence to even the most difficult negotiations.’

Key clients

Bharti Group

Ennismore International Management

TATA Group

Airtel Africa


Insurance Australia Group

Yinson Holdings Berhad

ArcelorMittal S.A.

InterGlobe Enterprises UK

Lupin Limited, Nanomi B.V

Goldman Sachs

Strides Pharma Science

Happiest Minds Technology

Work highlights

  • Advised Airtel Money, a wholly owned subsidiary of Airtel Africa plc, in respect of its investments of US$200 million from The Rise Fund, the global impact investing platform of TPG, and US$100 million from Mastercard. Airtel Money is currently the holding company for several of Airtel Africa’s mobile money operations and is intended to own and operate the mobile money businesses across all of Airtel Africa’s 14 operating countries.
  • Advised Bharti Global and its consortium with the UK Government (through the Secretary of State for Business, Energy and Industrial Strategy), on their USD $1 billion acquisition of OneWeb in connection with its US court-supervised Chapter 11 sale process.
  • Advising Ennismore, a UK-based developer and owner of The Hoxton Hotel, on its USD 1 billion merger with Accor, a French multinational hospitality company, to create a new leading global lifestyle hotels company.

Linklaters LLP

At Linklaters LLP, Narayan Iyer heads the India group from London, advising lenders and corporates on inbound and outbound transactions, especially on acquisitions, leveraged and structured finance. More broadly, with a core team in Singapore, it has an established reputation for high-profile, cross-border M&A and corporate deals, capital markets and disputes work. With its global reach and broad expertise, the firm can navigate its clients through varied challenging markets. In London, corporate expert Savi Hebbur is duel qualified in England and Wales and New York and heads the India corporate offering – he advises both international companies and PE houses and Indian corporates. Other leading practitioners in London include Ben Carroll  (India dispute resolution) who also advises on fraud, sanctions issues and cross-border investigation and Sushil Jacob (corporate transactions). In Singapore Philip Badge (finance), Amit Singh (capital markets) and Phill Hall are key contacts. The latter has some decades of experience in both debt and equity capital markets, in India and across Asia.

Practice head(s):

Narayan Iyer

Other key lawyers:

Savi Hebbur; Ben Carroll Phill Hall ; Philip Badge; Amit Singh; Sushil Jacob


‘Technology and collaboration are the two very good plus points of Linklaters. They are tech savvy and hence easily accessible. These are the two areas which are very important in the current pandemic situation.’

‘High technical competency, with the ability to give practical and commercial advice. Responsive and proactive from a client care perspective.’

Key clients

Hero Future Energies

Tata Group

OYO Rooms

Bharti Airtel

Adani Group

Aditya Birla Group


ICICI Securities Limited

Crédit Agricole Corporate and Investment Bank

CSI Finance Limited




New York Life Insurance Company

Moore Capital Management

Global University Systems

Work highlights

  • Advised a syndicate of mandated lead arrangers led by a multinational banking and financial services company and an international banking group on a syndicated facilities agreement for Adani Green Energy Limited and its project companies in respect of a series of hybrid wind and solar projects in Rajasthan, India.
  • Advised ORIX Corporation on its US$963m investment into the Greenko Group, one of India’s leading renewable energy companies, and also on the sale of its Indian wind assets to the Greenko Group for US$342m.
  • Advised the book running lead managers in connection with the qualified institutions placement (QIP) of equity shares by Max Healthcare Institute Limited.

White & Case Pte. Ltd.

White & Case Pte. Ltd. is rated highly not only for its India market expertise but also for its client service; ‘its use of research tools along with legal innovation makes them a premier law firm‘. It also demonstrates a commitment to diversity; it meets the criteria for Diversity Lab’s Mansfield Rule Certification in respect of its drive to employ females, lawyers of colour and LGBTQ+ lawyers. The core teams are located in Singapore, Hong Kong, London and New York from where it serves multinationals, private equity houses, commercial and investment banks, alternative investment and sovereign funds and government entities. It advises clients on pursuing opportunities in India and Indian companies on their international activities and investments. It has leading cross-border M&A and private equity offerings and impressive disputes and arbitration practices. Nandan Nelivigi heads the India team and focuses on mergers, acquisitions and joint ventures involving India, with particular experience of the energy and infrastructure sectors. Dipen Sabharwal QC in London has an impressive international arbitration practice (he is New York, India and England and Wales qualified). Aloke Ray QC, also based in London, undertakes high-value arbitrations and disputes. Rahul Guptan (joined from Clifford Chance in mid 2021) has more than 20 years of experience advising on complex cross-border India-related transactions and specialises in securities and corporate law with a special focus on capital markets transactions. Daniel Abercromby in Hong Kong, joined the banking and finance team in 2020 and further bolsters the India sponsor finance practice, and counsel Aditya Singh specialises in international arbitration and has noteworthy experience handling corruption investigations.

Practice head(s):

Nandan Nelivigi

Other key lawyers:

Dipen Sabharwal QC; Aloke Ray QC; Rahul Guptan; Daniel Abercromby; Aditya Singh


‘Dipen Sabharwal, QC is an excellent lawyer, thorough, always well prepared. Calm and conveys reassurance.’

Dan Abercromby at W&C HK is an excellent addition. He leads the sponsor side of the banking practice for India.’

White & Case is one the reputed firms which offers exceptional services to the client. They have sector specific experts. They have good knowledge of Indian market and have been involved in various legal issues relating to the Indian market. Their use of research tools along with legal innovation makes them a premier law firm. I have always found their manner of analysing law as a mean to find commercial solution to the legal problem very helpful and always appreciated by the client.’

‘Very strong ability to present international and local law expertise and market insights. Very strong senior associate team led by Peiwen Chen.’

Key clients

Facebook, Inc.

The Carlyle Group

TPG Capital

Citigroup Global Markets

Legris Industries

Sun Chemical

Clariant Plastics & Coatings AG

Advent International

Cruz City 1 Mauritius Holdings

Republic of India

China Development Bank, the Export and Import Bank of China (China Exim Bank), and Industrial and Commercial Bank of China Limited

Work highlights

  • Representation of Schneider Electric on its ₹14,000 crore (approx. US$1.89 billion) acquisition of Larsen & Toubro Electrical & Automation business and the subsequent consortium between Schneider Electrics partnership with Temasek Holdings Private Limited, Singapore’s Sovereign Wealth Fund. The transaction won “Cross Border Deal of the Year (over US$1 billion)” at the M&A Advisor’s Awards 2020 and “India Deal of the Year” by India Business Law Journal 2020.
  • Representation of Carlyle Group on its US$490 million acquisition of Piramal Pharma, a deal shortlisted as “Asia Private Equity Deal of the Year” in the Asia Legal Awards 2021.
  • Representation of the Republic of India in enforcement proceedings initiated worldwide by Cairn Energy plc and Cairn UK Holdings Limited – including in the USA, UK, Singapore and France – to enforce a US$ 1.2 billion investment arbitration award obtained purportedly under the UK-India Bilateral Investment Treaty (“BIT”) in December 2020.

Baker McKenzie Wong & Leow

Banking and finance, capital markets, private equity, tax and compliance/competition matters are core areas of expertise at Baker McKenzie Wong & Leow whilst working closely with well-known Indian firms. It has a substantial Singapore-based team in addition to key lawyers in Europe. The ‘accomplishedAshok Lalwani heads the global India practice and the Asia Pacific capital markets group. He is sought out for his extensive experience of inbound and outbound mergers and acquisitions, including assisting clients with US securities laws and representing issuers and underwriters in securities offerings in the US and elsewhere. Other key lawyers include Philippe Reich in Zurich, who has ‘superb networking skills’ and who specialises in antitrust and trade law practices. Emmanuel Hadjidakis and Kah Chin Chu in Singapore handle banking and finance transactions including Islamic finance and restructuring mandates. Also in Singapore, Ashish Chugh is noted for his dispute resolution and arbitration expertise.

Practice head(s):

Ashok K. Lalwani

Other key lawyers:

Philippe Reich; Emmanuel Hadjidakis; Kah Chin Chu


‘The quality and commitment of Baker McKenzie stands out and is not comparable with many other international firms. ’

‘Collaboration is very good. They have offices in many jurisdictions and where they do not have offices, they have associate lawyers/firms, who are able to provide required advice.’

‘Philippe Reich has superb networking skills and he is able to connect us with the right person in any jurisdiction for various types of legal advice we need in the said jurisdictions. He does not just introduce us to the concerned in relevant jurisdiction, but he remains involved until we actually get the required advice, even if it is not his area of work. That helps a lot. ’

‘The team is very skilled, experienced and extremely professional in their dealings. The team is led by very able and accomplished lawyers. The team is very knowledgeable and adept at advising on the commercial as well as legal aspects of every transaction. It is a pleasure to work with the Baker team.’

‘Ashok Lalwani is a very accomplished and knowledgeable attorney. He is one of those lawyers with the most experience of advising on Indian laws. We have worked together extensively over two decades across multiple complex and multi jurisdictional matters and come out on top consistently.’

Key clients

Fortis Healthcare

Essel Propack

Mahindra & Mahindra

Aditya Birla Group

Tech Mahindra Limited

Standard Chartered Bank


Axis Bank


Mitsubishi UFJ Financial Group

Sumitomo Mitsui Banking Corporation

Mizuho Bank

DBS Bank

Standard Chartered Bank


Axis Bank

Work highlights

  • Advised the mandated lead arrangers and bookrunners, MUFG Bank and Rabobank, in the USD 750 million sustainability linked financing to UPL Corporation Limited.
  • Acted as foreign counsel to DBS Bank and Standard Chartered Bank in relation to the project financing of a 100MW wind farm project in Amreli, Gujarat, India by Vena Energy Shivalik Wind Power Private Limited (Vena Energy). This transaction involved complex structuring and documentation.
  • Advised State Bank of India in the first Secured Overnight Financing Rate (SOFR) loan facility of USD 100 million to Indian Oil Corporation Limited. This is the very first risk-free rate (RFR) loan in the external commercial borrowing (ECB) market, the first in South Asia, first for State Bank of India and the first for Indian Oil Corporation Limited – paving the way forward for more RFR deals in the ECB market. Given this is the first of its kind in the market, the parties managed to resolve the new interest benchmark and rate fixing mechanism in a very tight timeline.

Clifford Chance

With a deep knowledge of the Indian market, and the legal problems it throws upClifford Chance LLP is an attractive option for cross-border deals that have an India aspect. The practice is headed by Nish Shetty and Kabir Singh in Singapore, both of whom have extensive arbitration practices, and Mark Poulton and Ranbir Hunjan in London. Expertise is provided for corporate transactions, financings and litigation/arbitration matters. It has an extensive roster of US, international, investment and Indian banks and funds, and has a strong focus on investments, mergers and acquisitions in the energy markets. Thomas England is a key partner for banking and finance work; advising banks and borrowers on financing and restructurings across South and Southeast Asia, and US qualified Johannes Juette‘s expertise covers capital markets and securities law. Paul Tan joined the team in late 2020 from Rajah & Tann Singapore LLP; he is a partner with Cavenagh Law (which has a formal law alliance – Clifford Chance Asia). Tan is part of the team that has extensive experience of arbitration matters including SIAC, ICC, LCIA and ICSID.


The members of the team are very experienced and able, with a deep knowledge of the Indian market, and the legal problems it throws up.’

‘They are outstanding lawyers, with bags of experience and good judgment. Standout partners in this area are Nish Shetty, Paul Sandoshan and Kabir Singh.’

Key clients

Embassy Office Parks

Kotak Mahindra Capital Company



Adani Green Energy Limited

Goldman Sachs India

Morgan Stanley India

SBI Capital Markets

Partners Group

Berkeley Energy

Work highlights

  • Advising Adani Green Energy Limited on its c.USD 3.5 billion acquisition of SB Energy’s 5 GW India renewable power portfolio.
  • Advised the lead managers, Barclays Bank PLC, Citigroup Global Markets Limited, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities plc, MUFG Securities Asia Limited, Standard Chartered Bank  on the US$1 billion Rule 144A/Reg S drawdown of Notes by Export-Import Bank of India.
  • Advising a major Indian conglomerate on issues in relation to the investment and its various strategic options.

Latham & Watkins LLP

Latham & Watkins LLP has a long established track record acting for Indian corporates, domestic and international banks, private equity houses and other investors doing business in India. Its capital markets skills are highly rated and in demand, ranging from IPOs/equity raisings to a range of debt transactions, SEC-registered, unregistered, 144AI and Reg S work, bond issuances and American Depositary Receipts. It is also increasingly advising on project financings, acting for a range of conventional and green energy companies on acquisitions, investments and the raising of capital. The accomplished Rajiv Gupta in Singapore leads the India facing work, and Sharon Lau, vice chair of the firm’s global corporate practice, is experienced also in the areas of capital markets and private equity. Hong Kong-based counsel Louis Rabinowitz is a seasoned capital markets practitioner, he acts for a range of clients such as investment banks and Indian energy companies. Huge resources are available to clients across the USA and in Europe.

Practice head(s):

Rajiv Gupta

Other key lawyers:

Sharon Lau; Louis Rabinowitz

Key clients

Carlyle Group

Renew Power Private Limited

Saudi Arabia Public Investment Fund (PIF)

Silver Lake Partners

Total S.A.

Adani Ports and Special Economic Zone Limited

Axis Capital Limited


BofA Securities

DSP Merrill Lynch Limited

Helios Towers plc

ICICI Securities Limited

India Green Power Holdings

J.P. Morgan

JM Financial


Kotak Mahindra Capital Company Limited

Morgan Stanley

ReNew Power Private Limited

Vedanta Resources

Work highlights

  • Represented Silver Lake Partners in the acquisition of a minority stake for $1.38 billion in Jio Platforms, an India-based mobile network operator.
  • Represented the underwriters, a group of 15 banks, in Reliance Industries Limited’s Rights Offering of 422,626,894 Equity Shares listed on National Stock Exchange of India Limited (NSE) and the Bombay Stock Exchange (BSE). This is the largest non-financial services rights issuance undertaken globally in over a decade and the largest Indian capital markets transaction in terms of deal size.
  • Represented ReNew Power, India’s leading renewable energy company, on its definitive business combination agreement with RMG Acquisition Corporation II.


Milbank is in demand by major financial institutions, banks, ECAs and corporations in respect of substantial projects in the energy, telecoms, and infrastructure sectors. It counts major Asian and international banks among its clients in these areas as well as corporates such as Delhi International Airport. On the capital markets front, it is especially strong on debt matters; James Grandolfo (Hong Kong), who is US-qualified, is well known for his skills in respect of US issuances and project bond matters; equally well known is John Dewar in London who handles high-value, India-related project financings working with the gamut of banks and financial institutions and private equity houses, especially in the infrastructure and energy arenas. The practice has expanded considerably with the hires of transactional and finance specialists Andrew Whan and Neeraj Budhwani from Clifford Chance, and Davide Mencacci and John Bona from Linklaters – all based in Hong Kong.

Practice head(s):

James Grandolfo; John Dewar

Key clients

Korea Trade Insurance Corporation (K-sure)

Export-Import Bank of Korea (K-Exim)

HSBC Bank plc


Japan Bank for International Cooperation


Deutsche Bank

Delhi International Airport Limited

International Columbia US, LLC

Citigroup Global Markets Inc.

The Hongkong And Shanghai Banking Corporation Limited

GMR Hyderabad International Airport Limited

JSW Hydro Energy Limited

Work highlights

  • Advised the ECAs and commercial banks on nearly every one of Reliance Industries’ external borrowings in relation to Reliance Industries’ reorganisation of its oil-to-chemicals business into a special purpose vehicle, which is one of the biggest-ever reorganisations in India’s history.
  • Advised Deutsche Bank, Barclays, Citigroup, Credit Suisse, JPMorgan, Société Générale and Standard Chartered Bank as lead managers in connection with a 144A/Reg S project bond to be issued by JSW Hydro Energy Limited (“JSW HEL”).
  • Advised Delhi International Airport Limited (“DIAL”) in connection with its issuance of Rupee denominated non-convertible debentures (“NCDs”) to Cliffton Limited.

Shearman & Sterling LLP

Shearman & Sterling LLP has built a substantial global team across Asia and Europe in conjunction with its US base, which is dedicated to India-based or India-related transactions. It provides broad expertise in M&A, capital markets, project finance, international arbitration, real estate and fund formations. It has a specialist private equity team based in Singapore for India work and includes infrastructure funds, sovereign wealth and and pension funds among its clients. Andrew Schleider heads the capital markets group in Singapore, and represents both underwriters and issuers in a wide range of corporate finance transactions including some 20 years’ experience of US raisings, high yield and investment grade debt securities, and convertible bonds. Kyungwon (Won) Lee represents both issuers and underwriters on corporate transactions and his experience includes public and private, international and US offerings of common and preferred stock, high yield and investment grade securities. Partner Sanjeev Dhuna joined from Allen & Overy in July 2021; he has extensive experience advising both lenders and borrowers on complex cross-border banking and finance transactions, and is especially known for advising on leveraged finance. Sidharth Bhasin and James Cayton-Payne left in August 2021 to join Latham & Watkins LLP.

Practice head(s):

Sidharth Bhasin

Key clients

Citigroup Global Markets India Private Limited

DSP Merrill Lynch Limited

Work highlights

  • Advised DSP Merrill Lynch in relation to Motherson Sumi Systems Limited’s Group Restructuring and demerger of its Domestic Wiring Harness Business.
  • Represented Citigroup Global Markets India Private Limited, the financial advisor to Retail Ventures Limited, a subsidiary of Reliance Industries Limited in its proposed acquisition of the retail and wholesale business and the logistics and warehousing business of the Future Group for a consideration of INR 24,713 crore ($3.3 billion), pursuant to a composite scheme of arrangement.
  • Advised Greenko Dutch B.V. and Greenko Energy Holdings Limited in connection with the offering of US$940m aggregate principal amount of 3.85% Senior Notes due 2026 guaranteed by Greenko Energy Holdings on a senior basis.


Led by Stuart Rubin, Ashurst's India-related work is known for its focus on capital markets, especially equity work. Some of the noted lawyers in the practice include Anna-Marie Slot, John Kim, and Ethan Perry.

Work highlights

    Gibson Dunn

    Jai Pathak, who is the partner-in-charge of Gibson, Dunn & Crutcher LLP‘s Singapore office and the Asia Pacific region, leads a ‘very proactive and solution-oriented‘ team. The practice has an established reputation assisting international corporate and private equity clients with acquisitions, mergers and other investments into India and for serving a wide range of Indian clients with their transactions both in India and internationally. It can also bring to bear its considerable US, London and European resources. Pathak is notable for the scope of his M&A work, including cross-border takeovers, infrastructure development and joint ventures. In Hong Kong, Scott Jalowayski, who is the co-chair of the private equity group, advises private equity funds, their portfolio companies, and investment managers on acquisitions, mergers, joint ventures and restructuring. Also noted is associate Karthik Ashwin Thiagarajan (Singapore) for his India-focused M&A and restructuring experience.

    Practice head(s):

    Jai Pathak; Scott Jalowayski

    Other key lawyers:

    Karthik Ashwin Thiagarajan


    For one they are a global firm and have a strong M&A practice led by Jai S. Pathak. We find his team is very proactive and solution-oriented.

    Key clients

    The Kraft Heinz Company

    Eros International Plc

    Voya Financial

    Colfax Corporation

    InterGlobe Enterprises

    InterGlobe Aviation Limited / Indigo Airlines

    Celanese Corporation

    PAR Technology Corporation

    Kimberly-Clark Corporation

    Le Credit Lyonnais

    RedBird Capital Partners

    Work highlights

    • Advising PAR Technology Corporation, a leading global provider of restaurant software, on its acquisition of Punchh Inc., a leader in loyalty and guest engagement solutions for restaurant, retail, and convenience store brands, for approximately US$500 million.
    • Advising RedBird Capital Partners in its strategic partnership with Emerging Media, in which RedBird will acquire a 15% stake in the Indian Premier League’s Rajasthan Royals franchise.
    • Represented Eros International, a leading Indian motion picture production and distribution company, in connection with its merger with STX Financing, LLC, a U.S.-based media company engaged in the development, production, marketing and distribution of films, television and digital media content, headquartered in Burbank, California.

    Hogan Lovells Lee & Lee

    With talent in the USA, Europe, Asia, and Dubai, Hogan Lovells International LLP provides global services, combined with its regional hub in Singapore for India-related work. It assists Indian corporates on fund raisings and investors into India companies and also acts for banks. Stephanie Keen heads the corporate and finance practices in Asia Pacific and counsel Soumitro Mukerji, who is English and India-qualified is a key member of the Singapore banking team. Jonathan Leitch‘s work spans finance and structuring, and Louise Leung is part of the banking and finance team; both are in Hong Kong. Charlie Clayton-Payne is part of the Singapore banking and finance group. ‘Clearly a high flier‘, senior associate Derrick Lau has a focus on debt and acquisition finance.


    ‘Hogan Lovells have acted for us on a number of India-related matters. They have a strong blend of deal executors and insolvency/downside capability, which is matched by strong technical ability together with commercial nous. These strengths provide confidence that they won’t miss anything, and trust in their ability to achieve the results we are looking for. Experience with other firms is that they may have the technical skill, but it is not balanced by commercial thinking, or have the execution capability, but not the forensic rigour. Hogan Lovells is overall the firm that I am most comfortable with, and I take a lot of comfort when they are acting for us.’

    In terms of other services, Hogan Lovells has invested heavily, and from what I see is a market leader in Asia, in technical knowhow.’

    ‘Key personnel are Jonathan Leitch, Charlie Clayton-Payne, Louise Leung and Derrick Lau (Derrick is a senior associate, the rest are partners). Jonathan Leitch is primarily insolvency/downside, Charlie and Louise primarily execution, and Derrick sits across both. Whilst Derrick is currently a SA, he is clearly a high flier and is an essential part of their offering from my perspective. Sitting below the four people mentioned is a strong team of associates who are technically strong and hard working.’

    ‘They have a dedicated India Regional Desk which enables them to better understand the mindset of Indian clients and therefore, effectively cater to their needs. The team is led by very experienced lawyers and the work product speaks for itself in terms of the quality and expertise of the team.’

    ‘Stephanie Keen and Soumitro Mukerji are outstanding lawyers with in-depth knowledge of the law.’

    Stephanie Keen is a mature lawyer who is highly skilled in e-commerce and retail. I would highly recommend her.’

    Soumitro Mukerji possesses extensive knowledge of the Indian market. He has fantastic inter-personal skills and would not hesitate to recommend him.’

    ‘Stephanie Keen and Soumitro Mukerji of Hogan Lovells have a deep understating of clients’ needs in relation to India. They understand the client’s requirements, cultural issues, cost consciousness and personal approach very well. They are also very knowledgeable, capable and good persons.’

    Key clients

    Flipkart Private Limited

    Oaktree Capital Management

    Work highlights

    • Advised Flipkart, one of India’s leading digital commerce entities, on its US$1.2 billion fundraising.
    • Advised PhonePe, previously a wholly-owned subsidiary of Flipkart, on its partial spin-off as it secured $700 million in a new financing round, once again led by Walmart.
    • Advised Oaktree on its subscription for up to US$1 billion of private secured notes in a subsidiary of Vedanta Resources.

    Jones Day

    Sushma Jobanputra heads the Jones Day practice in Singapore and has some decades of experience advising on corporate, banking and finance, and restructuring matters. Dennis Barsky is US qualified and handles M&A and private equity with a focus on cross-border transactions, especially private equity-sponsored leveraged buyouts and acquisitions. Karthik Kumar‘s focus is infrastructure and energy project development and finance, which are notable sectors of expertise for the firm. Matthew Skinner leads the disputes team in the region, while Ben Witherall is noted for advising international and regional clients on inbound investments in India. All India-focused lawyers are in Singapore but work in concert with colleagues across Asia, North America and Europe assisting Indian clients with their global expansions.

    Practice head(s):

    Sushma Jobanputra

    Key clients

    ATN International, Inc

    Babcock Power Inc

    GAIL Global (Singapore) Pte. Ltd.

    Cardinal Health, Inc

    Twilio, Inc.

    UPL Limited

    Work highlights

    • Advised Twilio Inc. in its acquisition of ValueFirst Digital Media Private Limited, a leading Indian provider of digital communication solutions through telephone voice and data communications offering services in India and Southeast Asia.
    • Represented ATN International, Inc. on the sale of a majority stake in its renewable energy subsidiary Vibrant Energy Holdings Pte Ltd to Macquarie-owned renewable energy development platform, Blue Leaf Energy Asia Pte Limited. Vibrant Energy has an extensive solar PV project portfolio of an aggregate capacity of 466 MW in India.
    • Advised Groupe Solmax Inc., the global leader in the production of high-quality polyethylene geomembranes for industrial and environmental applications, and its shareholders (including institutional investors Caisse de dépot et placement du Québec (CDPQ) and Fonds de Solidarité FTQ (FSTQ)), in connection with Solmax’s acquisition of TenCate Geosynthetics Holding B.V.

    King & Spalding LLP

    King & Spalding LLP has outstanding strengths in disputes and international arbitration and the financing realms. This is combined with corporate transactions and project development matters. It has an exceptional range of expertise in energy sectors in relation to India-based deals. Lawyers work principally out of the USA, London, Geneva, Singapore and Tokyo. Andrew Brereton (Singapore) attracts complex financing mandates relating to the Indian market and is winning work in the green energy space, including wind and solar projects and is considered by one client to be ‘unsurpassed as a finance partner‘. Nikhil Markanday advises on mergers and acquisitions, and joint ventures from London, as does Rahul Patel from Atlanta, all with an India nexus. Thomas K. Sprange QC and John Savage QC are leading practitioners in disputes and international arbitrations, which are often high-stakes finance or projects cases in the power, mining, or oil and gas sectors. Sajid Ahmed is also noted for his experience in arbitration matters relating to India.


    ‘King & Spalding’s Singapore finance team knows India. They have a depth of experience and are highly skilled at navigating a jurisdiction that presents formidable regulatory challenges. Particularly when it comes to offshore structures that provide robust onshore protections without sailing too close to the FEMA wind, King & Spalding delivers.’

    ‘The team of Andrew Brereton (partner) and Soumya Bhagavatula (associate) is excellent on India deals. Andrew is unsurpassed as a finance partner. Soumya is a capable, hardworking rising star in finance law in the region.’

    Key clients

    Nomura Singapore Limited

    Greenko Ventures Limited

    Reliance Industries Limited (India)

    IGE Group

    Aditya Birla – Novelis

    Work highlights

    • Acted for Reliance Industries on its acquisition of Niko Resources’ 10% shareholding in the eastern offshore KG-D6 block following the settlement of its arbitration with Reliance and BP for US$36 million.
    • Represents Reliance in an arbitration seated in New Delhi under the UNCITRAL Arbitration Rules relating to a production sharing contract with the Indian Government, with the other two co-claimants being BP Exploration (Alpha) Ltd and Niko (Neco) Ltd, in a dispute relating to cost recovery issues under a contract and over US$3 billion is at stake.
    • Advised Nomura in relation to a facility to Blue Planet, a Singapore headquartered integrated waste management company, in connection with its strategic acquisition of a key minority stake in Zigma Global Environ Solutions Pvt Ltd, India’s largest landfill mining company.

    Norton Rose Fulbright

    Norton Rose Fulbright has a notable practice in the energy sectors, especially regarding disputes. Sherina Petit heads the India-focused practice from London, working with key practitioners, Stephen Begley, Raj Karia, Selene Tan and Aditya Rebbapragada.

    Work highlights

      Reed Smith LLP

      The Reed Smith LLP team, which ‘really understands how businesses in India like to be advised‘ is headed by Gautam Bhattacharyya, who is ‘very popular with Indian clients, corporates and banks‘ and Bobby Majumder in Dallas, who is also highly rated. The firm’s global reach combined with its established relationships with Indian firms renders it an attractive choice for matters ranging from finance and restructuring to disputes. It counts international banks and investors into India in a broad range of industries among its client roster and acquisitions and corporate work also forms part of its offering. At the junior level, Victoria Spillkin in London is also noted for her dispute resolution expertise.

      Other key lawyers:

      Victoria Spillkin


      ‘Reed Smith is our most preferred foreign law firm. They have a great team of lawyers and are well equipped to handle transactions in any geography.’

      ‘Mr. Bobby Majumder is the partner I work with. He is not only good with US laws but also has some insight to give on laws of other countries. He is up-to-date with the changes in law and is well aware of what is happening globally when it comes to law. He is great with data protection laws and finance transactions.’

      ‘The Reed Smith team really understands how businesses in India like to be advised. They are very hands-on and are available to advise at virtually all hours. The firm’s network of offices in Europe, the US, Middle East and Asia make it well-placed to advise clients on business transactions and disputes across the globe.’

      ‘Practice leader, Gautam Bhattacharyya, sets standards of excellence in client service and he is very popular with Indian clients, corporates and banks, and has an excellent relationship with many leading Indian law firms. As leader of the disputes practice, he also regularly advises on significant international arbitrations in London and Singapore.’ 

      Gautam Bhattacharyya is also a thought-leader in arbitration. This year, he co-chaired for the third time the global arbitration review (GAR) India conference. Due to COVID, the conference was virtual on this occasion but, in 2020, he co-chaired the conference in Delhi and, in 2019, in Mumbai. I don’t think it’s a mere coincidence that he keeps on getting invited to co-chair this leading conference.

      ‘The team is very good. They have a complete understanding/grip of the matters handled/led by them. Their responses to clients’ queries are comprehensive and to the point. The team has the necessary skill set/capability to lead complex, high stakes matter even involving multi-jurisdictional laws. The team is always available/approachable and have finished client deliverables within the prescribed time frame.’

      ‘Reed Smith is a fine balance of in-depth understanding of the matter and real-time decision-making. One of the best attributes has been to get in specialists for all their matters, even on minute aspects, which we greatly appreciated.

      They have one of the best diversified team and presence across locations, which was unique and extremely helpful when working on a global litigation mandate as the Reed Smith team had their ears on the ground in jurisdictions across Europe and Asia in the matter.

      ‘Reed Smith have one of the strongest Indian disputes practices of any London firm. This is largely due to the tireless efforts of Gautam Bhattacharyya, the partner who has for many years headed up the firm’s Indian practice. Bhattacharyya is very well connected in India, and before the pandemic made regular visits to India to meet with Indian lawyers and clients. Bhattacharyya has a deep understanding of the Indian legal market, and the commercial context in which it operates, and Reed Smith’s ability to understand all facets of a major Indian commercial dispute reflects this. ’

      Stephenson Harwood

      In addition to acting for international and Indian banks and other financial institutions, Stephenson Harwood also has a dedicated private wealth practice to assist ultra-high-net-worth families in India, the Middle East and elsewhere on their wealth management and investments. The firm combines its global/Asia capabilities with a close connection to the India market providing financing, corporate and disputes expertise in the mid-market range in sectors including resources, healthcare and technology. It also advises, on a pro bono basis, the British Asian Trust. Kamal Shah, who heads the group (and the Africa group), primarily advises on complex disputes in India, often with cross-border elements and spearheads a respected arbitration practice. Meanwhile George Cyriac (dual qualified in New York and India) has some decades of experience on cross-border corporate, private equity and restructuring transactions in Asia. Nijoe Joseph is reported to be ‘one of the most respected banking and finance lawyers in the UAE’; he has noteworthy experience of shipping, aviation and financing (including Islamic finance) expertise while Gregory Xu in Singapore, leads the general banking and project finance offering for Southeast Asia.

      Practice head(s):

      Kamal Shah


      Stephenson Harwood has a strong team of partners covering India across different jurisdictions – UK, Middle-East, Singapore. In India the team has been advising on merger & acquisitions, litigation and arbitration, finance matters, IPOs and covers various sectors including technology and outsourcing work. They are a reliable option for many mid-market transactions for both inbound and outbound work. Attention to customer service is exceptional. Professionalism and integrity in every regard. Always apply the right level of expertise and partner supervision of senior and junior staff is very good.

      ‘I would highly recommend the services of the banking and finance team of Stephenson Harwood, Dubai office. The team is well organised, provides effective advice and makes the relationship both effortless and pleasant. One of the significant quality of the team to be highlighted is their ability to turn around within the committed timelines and which helps us in closing matters with our clients. They are also cost effective.’

      ‘Nijoe Joseph is one of the most respected banking and finance lawyers in UAE. He tries to understand the needs of the clients and provides effective advice based on the requirements. If a matter is entrusted to Joseph, he would be available throughout whenever required. As a partner, his availability and engagement in a matter is to be specifically mentioned. Joseph is also easy to work with and always willing to take the time to discuss our concerns and respond to questions. Even during the pandemic as well, Joseph has been in constant touch and provided the necessary support at all times.’

      ‘The firm punches above its weight. Top quality but at more reasonable price points than the magic circle firms. Also, they are quite commercial and pragmatic.’

      ‘George Cyriac leads their Indian M&A efforts and stands out. He is hands-on, commercial and pleasant to work with. He is able to build a rapport quickly with Indian clients.’

      ‘Kamal Shah heads their India group and is a great litigator.’

      Key clients

      ICICI Bank

      Axis Bank

      Yes Bank

      HDFC Bank Limited

      State Bank of India, Hong Kong branch

      Mr Ravi Ruia and Mr Prashant Ruia

      Mizuho Bank

      Aditya Birla Finance Limited

      Power Finance Corporation Limited

      REC Limited

      Work highlights

      • Acted on a limited basis as local counsel to State Bank of India, Hong Kong Branch on its US$1 billion loan financing from Japan Bank for International Cooperation, a policy-based financial institution, wholly owned by the Japanese government.
      • Acting on a transaction involving Brookfield group acquisition of certain projects of the RMZ Group by acquiring shares of identified RMZ Group entities including that of RMZ Infotech Private Limited.
      • Acted for Power Finance Corporation Limited, REC Limited, and Yes Bank Limited on a transaction involved financing of a 326.70 MW(ac) wind power project, in the State of Madhya Pradesh at an estimated project cost of INR 220,721,00,000 to be developed by SBESS Services Projectco Two Private Limited, an indirect subsidiary of Softbank.

      Cleary Gottlieb Steen & Hamilton

      Corporate guruTihir Sarkar and Nallini Puri, who is ‘excellent‘ on corporate and financing matters, are the primary leads for Cleary Gottlieb Steen & Hamilton‘s India-facing practice. The firm is highlighted for its deep understanding of the Indian market and its ability to field experts in an extensive range of practice area. It provides clients with expertise in the key areas to enable inbound and outbound transactions;  M&A, private equity, capital markets, antitrust and dispute resolution. It is also collaborating with a legal tech company to provide financial and other intelligence to its clients. Based largely in London, other key lawyers include Sunil Gadhia whose focus is on English and foreign court litigation, arbitration, and investigations, and ‘absolute starMichael Preston who advises private equity sponsors, investors, and other corporate clients on their investments and co-investments, joint ventures.

      Practice head(s):




      ‘Michael Preston aka MJP – is an absolute star and by far one of the best senior lawyers I have worked with at a foreign firm. Cleary is an excellent law firm and has great resources. It also understands the Indian market well.’

      ‘CGSH did an incredible job for us on a complex transaction across multiple jurisdictions and in a very tight timeframe. They were always available, committed the full resources of the firm to deliver the outcome and provided expert advice. I’d have no hesitations in using them again or recommending them to others.’

      ‘Nallini Puri, the partner on the transaction, was excellent. She was on top of everything, knew when to bring in expert help from other partners and dealt with difficult counter-parties. Tom Jemson is a standout associate, perhaps one of the best I’ve ever worked with. Totally on top of a very complicated and disparate set of workstreams, across multiple time zones.’

      ‘Cleary’s India practice, including in particular, Tihir Sarkar and Nallini Puri, for corporate/M&A, and Sunil Gadhia, for disputes/investigations, are technically excellent, alert and responsive to clients’ needs, thoughtful both in identifying problematic issues and suggesting workable solutions, and collaborative in their approach. Their practical and commercial style of working makes them particularly good to work with on high value, complex deals. They are also very well coordinated internally and across practice groups/offices and known for their ability to provide holistic solutions. They are top-end lawyers and go-to people for key India transactions.’

      ‘Nick Levy: easily amongst global top ten competition lawyers. Whether it’s digital economy issues or a complex merger, Nick is the one person you need on your side. Nalini Puri: excellent corporate partner. In depth understanding of complex M&A and PE issues particularly for the Indian market. Tihir Sarkar: corporate guru. Strong structuring and ability to close the deal strengths.’

      ‘Tom Jemson is a standout associate, perhaps one of the best I’ve ever worked with. Totally on top of a very complicated and disparate set of workstreams, across multiple time zones.’

      Key clients

      American Express

      ArcelorMittal and the Mittal family



      The Dow Chemical Company

      GlaxoSmithKline plc

      Goldman Sachs

      Ola Electric

      The Rise Fund



      TPG Growth

      The Walt Disney Company


      Work highlights

      • Counsel to Goldman Sachs on ReNew’s proposed public listing on the NASDAQ through a business combination with RMG Acquisition Corporation II, a special purpose acquisition company, at a valuation of around $8 billion.
      • Counsel to global pharmaceutical and biotechnology major Wockhardt, in its agreement with the UK government to fill finish COVID-19 vaccines for the UK.
      • Counsel to Ola Electric Mobility in its acquisition of Etergo, a Dutch company engaged in the development and manufacture of electric scooters.

      Debevoise & Plimpton LLP

      Debevoise & Plimpton LLP lawyers based in the USA, London, Hong Kong and further afield provide a comprehensive range of expertise, often with an India element. It acts for international banks, private equity firms and other investors and for Indian corporates in their investments and capital raisings. Geoffrey Burgess in London and William Chua in Hong Kong co-head the India practice while the ‘outstanding disputes lawyerLord Peter Goldsmith QC is the co-managing partner of the London office and chairs the European and Asian litigation practice. The ‘exceptionalGavin Anderson is a member of the funds practice; his work of late has included advising on the formation of an India venture fund and an infrastructure fund, and US-qualified Geoffrey Kitteridge, who is based in London, is ‘renowned‘ for his private equity and investment funds practice.

      Practice head(s):

      Geoffrey P. Burgess; Lord Goldsmith QC; William Y. Chua

      Other key lawyers:

      Geoffrey Kitteridge; Gavin Andersen


      ‘A unique feature that assures the client the availability of the best brain for a particular issue is the firm’s lockstep arrangement. As a white shoe firm, Debevoise & Plimpton is indeed a one-stop-shop. Having associated with Debevoise & Plimpton for over 15 years, I can vouch for their agility in dealing with the concerns of the client. Debevoise & Plimpton has presence in various geographies and also has excellent collaborative relationship with firms in jurisdictions where they have no presence. Whether it be PE, M&A, fintech, disputes, pharma, white-collar crimes, compliance, FCPA etc. Debevoise & Plimpton has a leadership position both in terms of expertise and as a solution provider. Debevoise & Plimpton’s legal service delivery is value for money. The Debevoise Protocol on Arbitration is a shining example of how clients can make arbitration cost-effective.’

      ‘Lord Peter Goldsmith is an outstanding disputes lawyer and he is not only a QC but also a senior partner. Geoff Kitteridge is an renowned funds lawyer and his reputation precedes him. Geoff Burgess is a brilliant M&A lawyer whose motto is ‘let us get the deal done’.’

      ‘They have a very strong grasp of the fundamentals of the business, which allows them to innovate and be flexible. Their client servicing is impeccable.’

      ‘Gavin Andersen is an exceptional lawyer, with an excellent problem solving attitude and a a calm demeanour.’

      Key clients

      AIA Group

      Capital Group

      HarbourVest Partners

      Leapfrog Investments

      Lightspeed India Partners

      Morgan Stanley

      PJSC Uralkali

      Rolls-Royce plc

      The Hinduja Family

      Work highlights

      • Advising Lightspeed in the formation of Lightspeed India Partners III, a US$275 million India venture fund.
      • Advising AIA Group (“AIA”) in its long-term strategic partnership with Practo Pte. Ltd. (“Practo”). Through the strategic partnership, AIA’s joint venture in India, Tata AIA Life Insurance Company Limited, will gain preferred access to Practo’s platform and become Practo’s exclusive provider of life insurance solutions and related wellness propositions in India.
      • Advising the Hinduja family, a high-profile, ultra-high-net-worth Indian family, in a claim principally concerning the status, meaning and effect of two documents and their effect on the family’s significant business assets. The assets in question are worth US $ billions.

      Duane Morris

      Duane Morris is reported to be ‘a well-rounded firm with various complementary specialisations‘ but with core expertise in capital markets and corporate work in the financial services and energy sectors. It has long served clients with their investments in India and assisting Indian corporates with their expansions. The team also works closely with Indian counsel on a full range of areas ranging from litigation to real estate and employment matters. International and domestic clients benefit from the firm’s ability to advise on matters in Asia, the USA and Europe. In addition to being co-head of the India group, Jamie Benson also heads the US capital markets practice; he advises clients on debt matters, and IPOs. Co-practice head Priyank Srivastava  is in demand for providing clients with ‘innovative and commercially viable solutions‘ when advising on Singapore and India-related deals and has especially deep experience of the Myanmar market. Jonathan Crandall has left the firm for an in-house position.


      ‘This practice is unique to us as it operates in markets where we are operating in and is in line with our expansion footprint. Its a well-rounded firm with various complementary specialisations.’

      It has very well qualified partners and associates who overdeliver their promises and commitment to us as clients.

      ‘Priyank Srivastava is very well versed with multi-jurisdiction work covering India, Singapore and Myanmar. Often coming out with innovative and commercially viable solutions, we see him as a business partner more than a lawyer. Specifically his advice in the downstream oil and gas sector; he is well regarded and simply put – his advice makes simple and complete sense to us.’

      ‘Priyank Srivastava doesn’t over complicate matters and isn’t afraid to advise us that whatever we intend to do doesn’t make sense, while clearly highlighting the potential risks we would undertake if we were to go ahead.

      ‘We have particularly worked with Priyank Srivastava and Gabriel Lee, both of whom are extremely thorough with their matters and subjects. They are solution-oriented and give personal attention to matters. Priyank Srivastava, in particular, has great relationship and communication skills.’

      Key clients



      Credit Suisse


      HDFC Bank

      Motilal Oswal Investment Advisors Limited

      YES Securities (India) Limited

      Axis Capital

      Edelweiss Financial Services Limited

      IIFL Securities

      ICICI Securities

      Intensive Fiscal Services

      Ambit Capital

      Equirus Capital Private Limited

      Thomas Cook (India) Limited

      Arvind Fashions Limited

      JM Financial Limited

      Elara Capital (India) Private Limited

      ONGC Videsh

      State Bank of India

      Indraprastha Gas Limited

      Iceberg Holdings



      Work highlights

      • Acted as international legal counsel to ICICI Securities Limited, Citigroup Global Markets India Private Limited, Credit Suisse Securities (India) Private Limited, JM Financial Limited and UBS Securities India Private Limited in their role as the book running lead managers on the sale of INR 30 billion (US$400 million) of equity shares in IDFC First Bank Limited in a qualified institutions placement (QIP), including a concurrent US private placement.
      • Acted as international legal counsel to Elara Capital (India) Private Limited, IIFL Securities Limited, Motilal Oswal Investment Advisors Limited, and YES Securities (India) Limited on the recent sale of approximately INR 14.5 billion (US$200 million) of equity shares in Union Bank of India in a QIP, including a concurrent US private.
      • Acting as lead international and local counsel for an Indian conglomerate on its oil and gas downstream ventures in Southeast Asia. The potential investment involves about USD100 million to be invested by the client in green-field and brown-field projects in the region.

      Kirkland & Ellis LLP

      Kirkland & Ellis LLP offers a significant range of India-related expertise on cross-border acquisitions, off-shore financing, international risk/regulatory compliance and tax. It has a strong client roster of private equity firms in addition to international corporates investing in India. Based in New York, Srinivas Kaushik acts for such clients on domestic and international mergers and acquisitions, leveraged buyouts and strategic investments. Also in New York, Atif Khawaja‘s work is focused on disputes including IP litigation. Asheesh Goel in Chicago and Cori Lable in Hong Kong co-lead the international risk practice, advising international investors and companies on areas including securities enforcement, government investigations and enforcement actions. Goel also advises on the US Foreign Corrupt Practices Act. In Hong Kong, Manas Chandrashekar advises sponsors/borrowers and lenders on a range of financings and investments.

      Other key lawyers:

      Manas Chandrashekar

      Key clients

      Affiliates of CarVal Investors, LP

      L Catterton

      Funds advised by Apax Partners

      Ares Management Corporation

      Silversmith Capital

      Vista Equity Partners

      Baring Private Equity Asia

      Advent International

      Blackstone Real Estate Partners

      IL&FS Transportation Networks Ltd.

      An ad hoc committee of holders of approximately $546.9 million of step up convertible bonds due 2019 issued by Suzlon Energy Ltd.

      Dewan Housing Finance Corporation Ltd.

      Ad hoc Committee of lenders of Jindal Steel & Power (Australia) Limited

      Amneal Pharmaceuticals and Impax Laboratories, Inc.

      Amneal Pharmaceuticals and Lupin Pharmaceuticals

      Dr. Reddy’s Laboratories

      Sun Pharmaceuticals


      Welspun Group

      Work highlights

      • Represented affiliates of CarVal Investors, LP as the lead investor in a consortium comprised of CarVal and Nithia Capital in the acquisition of Uttam Value Steel Limited and Uttam Galva Metallics Limited, one of India’s largest manufacturers of steel products.
      • Advised leading consumer-focused private equity firm L Catterton in its US$250 million investment in Jio Platforms, a next-generation Indian technology company and subsidiary of Reliance Industries.
      • Acted for funds advised by Apax Partners on their acquisition of the software products business of 3i Infotech Limited (NSE: 3IINFOTECH), an Indian IT solutions company listed on the National Stock Exchange of India Limited.

      Ropes & Gray LLP

      Ropes & Gray LLP is home to global counsel based in the USA, the UK and Asia with expertise in an array of practice areas including corporate/M&A, private equity, competition, disputes, white collar defence, and compliance. It has a focus on private equity, healthcare, life sciences and real estate. It has a substantial team based in Hong Kong, one of whom is Daniel Anderson, who advises investment funds on debt and equity investments in public and private companies, principally in distressed situations. Andrew Dale focuses on litigation, and Geoffrey Atkins is known for his work on India-related civil and criminal anti-corruption and securities enforcement matters before the SEC, and other state and foreign regulators, and regulatory matters. Ruchit Patel in London brings the antitrust capabilities, advising clients on India and Asia-related compliance and investigations, in addition to his expertise dealing with the European Commission, and UK regulators.

      Practice head(s):

      Daniel Anderson; Andrew Dale; Ruchit Patel

      Other key lawyers:

      Geoffrey Atkins; Kathleen Aka

      Key clients

      Baring Private Equity Asia

      Cancer Treatment Services International

      CDC Group

      PG Impact Investments

      TPG Growth

      Lenders to Jindal Steel & Power Australia



      Work highlights

      • Representing the placement agents in a private investment in public equity (PIPE) for India’s ReNew Power, India’s leading renewable energy company.
      • Represented Novavax, the leading US-based biotechnology company on its US$167 million acquisition of Praha Vaccines, a vaccine manufacturing facility located in the Czech Republic, from an investment company of the Poonawalla Family (India).
      • Represented KKR, the leading US-based global investment company in connection with the financing for its acquisition of a controlling stake in J.B. Chemicals & Pharmaceuticals, a leading Indian public company in the pharmaceutical business, exporting its branded formulations to more than 40 countries around the world.

      Skadden, Arps, Slate, Meagher & Flom LLP

      At Skadden, Arps, Slate, Meagher & Flom LLP, Rajeev Duggal (head of the Singapore office) and Jonathan Stone (co-head of the India-focused practice and head of the Hong Kong office) are reported by a client to be ‘extremely commercial and technically brilliant‘. Working in concert with colleagues in the USA and London, the Asia team attracts key mandates in relation to mergers, acquisitions and joint ventures involving international entities investing into India. It attracts work spanning technology, retail and energy, often with values in the billions of dollars.

      Practice head(s):

      Rajeev Duggal; Jonathan Stone


      ‘Skadden offers exceptional capabilities across practice areas for India-related work: they are truly above the rest of the pack for large and complex arbitration matters, transactions (including M&A, PE and de-SPACs) and ECM listings.’

      Their lawyers are commercially savvy and find practical solutions to the most complex legal challenges.

      ‘Rajeev Duggal and Jonathan Stone are absolute stars! Extremely commercial and technically brilliant! By far one of the best corporate/M&A practices in Singapore, and one that focuses on cross-border Indian/Asian deals.’

      Key clients


      Times Internet

      3i Infotech Ltd

      Unitech Corporate Park PLC

      Bank of America Merrill Lynch

      Azure Power Global Limited

      Hexaware Technologies Limited India

      Standard Life Limited

      Mubadala Investment Company

      Work highlights

      • Advised Mubadala Investment Company PJSC (United Arab Emirates), a sovereign wealth fund, in its US$1.2 billion investment in Jio Platforms Limited (India), a subsidiary of Reliance Industries Limited (India).
      • Advised Twitter, Inc. in its investment in ShareChat (India) as part of ShareChat’s US$502 million financing round. Also advised Twitter its Series D investment in ShareChat (India).
      • Advised RMG Acquisition Corporation II in its US$8 billion business combination with ReNew Power (India). As a result of the merger, ReNew Power will become a publicly traded company.

      WongPartnership LLP

      In addition to its well-recognised disputes and arbitration practice, WongPartnership LLP provides its Indian clients with expertise in mergers, acquisitions and joint ventures as they invest outside of India and in relation to incoming investments. Additionally it has an established practice in insolvency, restructuring and turnarounds, headed by Manoj Pillay Sandrasegara with Smitha Menon as deputy head. Menon has extensive experience advising financial institutions, turnaround and debtor companies, and in court proceedings. Senior counsel Alvin Yeo‘s reputation for disputes and arbitration matters precedes him; he routinely acts for Indian clients in SIAC proceedings and other tribunals and dispute resolution senior associate Chen Chi is highlighted for his handling of ‘complex arbitrations‘. Kah Keong Low is the head of the asset management and funds practice; he advises international and Indian clients on mergers and acquisitions, together with corporate finance, asset management and collective investment schemes. The ‘commercial and outcome-drivenKyle Lee focuses on assisting start-ups, fintech and venture capital clients.


      ‘Kyle Lee is commercial and outcome-driven.’

      ‘Hock Keng gives clear cogent advice. His knowledge of SIAC Procedural Rules is impeccable.’

      Chen Chi is super helpful and is the perfect team player, specifically when managing multiple co counsels in complex arbitrations.

      ‘The team is available to help international clients even with significant time differences. I worked extensively with their associate Chen Chi and her work was commendable.’

      Key clients

      Raffles Education Corporation Limited

      Jungle Ventures Pte. Ltd.

      Macquarie Capital (Singapore) Pte. Limited

      QuEST Global

      Kohlberg Kravis Roberts & Co.

      Work highlights

      • Acting for the Raffles Group in Singapore court proceedings commenced against Indian and Singapore individuals connected to the Educomp Group (the Raffles Group’s JV partner) for loss and damages arising from the individuals’ alleged conspiracy to injure the Raffles Group through (among other things) the making of fraudulent misrepresentations which induced the Raffles Group to take substantial investment steps in respect of its business interests in the Indian education sector.
      • Acted for Jungle Ventures as lead investor in the US$17 million Series B funding round of Leap Finance.
      • Acted for Macquarie’s Green Investment Group in the acquisition by its portfolio company, Blueleaf Energy of a majority stake in an Indian clean energy solutions provider, Vibrant Energy Holdings Pte. Ltd., from ATN International, Inc.

      Akin Gump LLP

      Akin Gump LLP‘s India-related work is led by Prakash Mehta in Washington DC and the ‘excellent’ Thomas John Holton in London. Its focus is on funds matters; ‘with excellent capabilities on all facets of fund formation, including regulatory, tax and compliance‘. It acts for major, often global private equity, venture capital, real estate and credit funds in their fund raisings in India and also assists India-based funds to expand overseas or set up a base in countries such as the USA, when they would also be assisted in navigating regulatory and licensing issues. There are specialists in Singapore, Hong Kong, Beijing, London and Abu Dhabi, including Divya Thakur and Juliana Widjaja in Singapore.

      Other key lawyers:

      Divya Thakur; Juliana Widjaja


      It’s a full service firm with excellent capabilities on all facets of fund formation, including regulatory, tax and compliance. Further, with the team spread across key geographies, such as Singapore, London and US-West coast, they are able to work seamlessly across time zones. With respect to any complex matter requiring expert opinions, the firm is able to pull in resources from various backgrounds who give very timely and sound legal advice.’

      ‘Thomas John Holton: Always available and an excellent funds lawyer – gives very practical advice which is balanced from a regulatory and market perspective.

      Key clients

      Carpediem Capital

      Work highlights

      • Advised Carpediem Capital in connection with the launch of their fund and marketing efforts around the world.

      Mayer Brown

      Yu-Jin Tay heads the Mayer Brown International LLP team, based largely in Hong Kong and Singapore, which has an acknowledged reputation for its extensive work in the energy sectors; LNG, traditional oil and gas, renewable power and energy-related commodities. Infrastructure/construction and natural resources are other areas of strength. Renewable energy-related disputes is a growing source of disputes and arbitrations with an India, (Indonesia and Vietnam) aspect. Yu-Jin Tay is a prominent arbitration specialist, well known for his extensive Asian practice, and the group’s international arbitration capabilities have been increased with the arrival of partner Paul Teo in Singapore, who joined from Baker McKenzie FenXun in October 2020, bringing a specialism in construction and infrastructure disputes. Menachem Hasofer and John Hickin in Hong Kong are other noted international arbitration and disputes specialists.

      Other key lawyers:

      Paul Teo


      ‘Highly motivated and knowledgeable. Their advice is to the point and in line with business requirements.’