Cyril Amarchand Mangaldas > Mumbai, India > Firm Profile

Cyril Amarchand Mangaldas > The Legal 500 Rankings

India > Banking and finance Tier 1

Cyril Amarchand Mangaldas handles the entire suite of lender-side banking and finance transactions under the stewardship of co-heads Cyril Shroff , L Viswanathan  and Amey Pathak. Equally adept at advising banks, NBFCs and multilateral agencies (including the ADB and IFC), the team’s deal sheet includes high-value debt restructurings, mezzanine financing, project finance and complex securitisation. Though sector agnostic, the group impresses in the energy and infrastructure sectors. In a representative highlight,  a consortium of banks comprising the State Bank of India, Punjab National Bank, Bank of Baroda and others instructed on its multibillion-dollar lending to the State of Andhra Pradesh for social infrastructure development purposes.

India > Capital markets Tier 1

Led by Yash Ashar, Cyril Amarchand Mangaldas‘ Mumbai-based practice is the first port of call for major equity capital markets transactions, including IPOs, QIPs, and rights issues. The firm also has a robust financial regulatory practice which is adept at handling both contentious and non-contentious matters. Recent areas of growth include advising on high-yield bonds and InvITs. Overseas listings also feature in the caseload. Other core team members include Kranti Mohan, Gaurav Gupte and managing partner Cyril Shroff, who remains a key name to note. The team faced two notable departures in 2021, with Vivek S and Arjun Lall both leaving private practice.

India > Corporate and M&A Tier 1

With an expansive network of offices across India with talented corporate and M&A professionals, Cyril Amarchand Mangaldas consistently acts on significant transactions for domestic and international clients operating across the breadth of highly regulated and traditional sectors. Recent deal highlights included corporate amalgamations in the financial services sector, demergers in the insurance sector and equity stake acquisitions and disposals in the heavy industries and telecoms sectors. Practice head and founding partner Cyril Shroff spearheads the renowned corporate governance practice. Among the team, Reeba Chacko, Nivedita Rao and Akila Agrawal stand out at the senior level, making it a female-led powerhouse. Distressed M&A is a growth area for the team.

India > Dispute resolution: arbitration Tier 1

Cyril Amarchand Mangaldas‘s dispute resolution team has the breadth of expertise to handle a full range of domestic and international arbtitration for prominent Indian and multinational clients. The group offers full national coverage with offices in New Delhi, Mumbai, Bengaluru, Ahmedabad, Chennai and Hyderabad and combines a wide range of experience in corporate, contractual and infrastructure disputes with regulatory and sector specialisms in the financial services, TMT and energy spaces. A leading name for international arbitration, Shaneen Parikh leads the team from Mumbai where Indranil Deshmukh, the ‘outstanding‘ Aditya Mehta and Shalaka Patil are also based.

India > Dispute resolution: litigation Tier 1

Cyril Amarchand Mangaldas’ well-established litigation group has significant bench strength in commercial disputes, insolvency and bankruptcy cases, intellectual property litigation, and white-collar crime cases. Key contacts in the team, which has an extensive national presence, include Indranil Deshmukh, Bharat Vasani, Shaneen Parikh, who is experienced in commercial litigation, particularly cross-border matters, and Gauri Rasgotra, who handles disputes of national significance, and is the key contact for cases relating to emerging areas such as data privacy and the Insolvency and Bankruptcy Code. Other members of the core team are Gyanendra Kumar, who handles insolvency-related proceedings, and Anuradha Mukherjee, who is regularly instructed by private sector clients and government entities. Disputes over construction projects and white-collar crime matters also feature in the caseload. In May 2021, the practice expanded significantly at senior level with the promotion of several new partners, including Shalaka Patil, who is recommended for disputes in the energy, infrastructure, and oil and gas sectors.

India > Financial services regulatory Tier 1

Cyril Amarchand Mangaldas provides an extensive range of  ‘sound and practical‘ advice to financial institutions and corporates and includes a number of ex-Regulators within the team. It assists with the assessment of risks, compliance with regulations, securities laws and investigations. Anu Tiwari, who has re-joined the group, has extensive experience advising Indian and multinational fintech, banking and emerging technology clients on their transactions together with regulations and enforcement matters. Gazal Rawal’s broad expertise includes cases before the SEB, while Rutu Gandhi’s experience spans internal investigations and insider trading in addition to regulations across the financial sectors.

India > Private client Tier 1

Cyril Amarchand Mangaldas is called upon by a number of the nation’s leading HNWIs and family businesses to advise on wealth management, reorganisations, and estate and succession planning – often on a cross-border basis. In recent months, the team’s international capabilities have been further strengthened by the February 2021 opening of a representative office in Singapore focused on private client mandates. Cyril Shroff leads the Mumbai-based practice; he is a highly experienced corporate and commercial lawyer who advises family offices in India and abroad on wealth management and corporate governance. Rishabh Shroff regularly handles family constitutions, settlements, and the establishment of bespoke private and philanthropic trusts. Radhika Gaggar is noted for her expertise in cross-border private acquisitions, exchange control, and takeover regulations.

India > Private equity and investment funds Tier 1

Clients of Cyril Amarchand Mangaldas‘s private equity and investment funds include blue-chip sovereign wealth and private equity houses from across the globe. Cyril Shroff and Ravindra Bandhakavi lead on deployment-stage transactions. On the investee side, L Viswanathan acted for Reliance Industries on its headline $6.5bn fundraising from a host of multinational private equity investors. The team’s pan-India presence includes a substantial Bangalore office housing Reeba Chacko and Nivedita Rao. Particular sectors of expertise include real estate, infrastructure, financial services and life sciences.

India > Projects and energy Tier 1

Showcasing strength across all facets of projects, infrastructure and energy issues, Cyril Amarchand Mangaldas‘s team is continuously engaged in high-value matters as instructed by a roster of financial lenders, project sponsors and developers. Project finance is a core focus, with leading international lenders instructing co-heads L Viswanathan and Santosh Janakiram on major deals. The team regularly drafts and negotiates project agreements across all sub-sectors including airports, roads, oil and gas, ports and railways, with assistance provided by Ajay Sawhney and Ramanuj Kumar. A number of multilateral organisations retain the practice for advice on PPP ventures, including recent cross-border bulk water supply projects.

India > Restructuring and insolvency Tier 1

Cyril Amarchand Mangaldas‘ restructuring and insolvency bench acts on high-profile proceedings across sectors as lead advisors to dominant banks and financial institutions operating in India. Practice chair L. Viswanathan led the team (which included Abhijeet Das, Richa Roy and a slew of associates) advising the committee of creditors in Dewan Housing Finance Corporation’s multibillion-dollar insolvency, a market first in the financial services sector. Dhananjay Kumar is a notable partner, having been a key advisor to SBI and other stakeholders in relation to the resolution of Yes Bank, and to various creditors’ committees and resolution professionals in other major proceedings across the steel, industrial and aviation sectors.

India > TMT Tier 1

Cyril Amarchand Mangaldas is routinely sought out by various blue-chip tech companies, financial services corporations, and key entertainment industry players for assistance on a range of corporate and commercial matters, including high-profile cross-border acquisitions and implementations. The TMT group is jointly led by Bangalore-based technology specialist Arun Prabhu, and Mumbai-based Bharat Vasani and Anu Tiwari, who lead on media and financial regulatory matters, respectively. Prabhu is noted for his prolific transactional and advisory practice, working continually with an array of high-profile businesses and investors active in the tech sector. Vasani’s recent highlights include various licence and contract negotiations on behalf of major studios and distributors, while Tiwari – who arrived from AZB & Partners in September 2020 – heads up the team’s fintech offering, representing various entities at the domestic and international level.

India > Antitrust and competition Tier 2

Mumbai-based Cyril Amarchand Mangaldas handles large merger control matters for clients operating in the aviation, pharmaceuticals, and telecoms sectors, including cross-border matters across Southeast Asia. In addition, the team has seen an increase in instructions relating to investigations and advisory work on mitigating risk. Overseen by Avaantika Kakkar, the group frequently advises global corporates on competition issues in relation to market entry and has extensive experience appearing before the CCI; Anshuman Sakle is a key contact here.

India > Insurance Tier 2

Fielding a market-leading corporate bench and with a finger on the pulse of fast-changing IRDAI regulations, Cyril Amarchand Mangaldas is frequently sought out by major international private equity houses for inbound transactions in the insurance sector. Pranjita Barman‘s FDI expertise is often deployed on headline deals. Indranath Bishnu advises on marquee share acquisitions, including for leading private banks acquiring life insurance companies. The team also advises on large distressed acquisitions requiring significant ring-fencing considerations.

India > Labour and employment Tier 2

Cyril Amarchand Mangaldas benefits from a team of ‘very competent and articulate professionals’ whose ‘knowledge and experience is clearly evident’ when handling disputes and advisory-related employment mandates. Rashmi Pradeep leads the practice, which has notable experience in large-scale business transfers involving thousands of employees. Recent focus areas also include transitional preparation for India’s new labour codes and the implementing of ESOP schemes, as well as sexual harassment investigations. Richa Mohanty Rao and Abe Abraham are the other key players, with particular strength on the regulatory and compliance side; clients are typically from the healthcare, finance and IT sectors. Ankita Ray made partner in May 2021.

India > Real estate and construction Tier 2

The wide geographical footprint of Cyril Amarchand Mangaldas‘s real estate practice stretches from the main financial hubs to Chennai, Hyderabad and Ahmedabad. Co-heads Abhishek Sharma and Bangalore-based Namrata Kolar have combined expertise across all major assignments, including title due diligence, transaction structuring, conveyancing deeds, joint developments, leasing and licensing. The diverse client roster includes major funds, institutional lenders, borrowers, developers, high-net-worth individuals and investors. Hiral Motta and Abhilash Pillai are also key names to note. Ranked partner Mridul Kumbalath moved his practice to Trilegal.

India > Tax Tier 2

Cyril Amarchand Mangaldas ‘specialises in complex tax issues and is able to offer commercially workable solutions‘ on matters ranging from investment structurings to corporate reorganisations. Cyril Shroff co-heads the practice alongside SR Patnaik, who garners client praise for being ‘pragmatic in his approach‘ – particularly when advising on international tax treaties and M&A transactions. The team also handles disputes instructions, with ongoing involvement in a series of proceedings before the High Court of Telangana regarding import policy for maize corn under the domestic foreign trade policy, on behalf of Gourmet Popcornica. The team saw the departures of Mekhla Anand and Daksha Baxi – the latter to set up her own practice – but was strengthened at partner level by the promotion of Kunal Savani in spring 2021.

India > White-collar crime Tier 3

At Cyril Amarchand Mangaldas, managing partner Cyril Shroff in Mumbai, leads the practice with disputes expert, Gauri Rasgotra. Other key names in the practice include disputes expert Indranil Deshmukh and head of international arbitration, Shaneen Parikh. The white-collar crime and investigations team advises and represents many of the leading financial institutions, national and international global corporations, as well as senior executives in a wide range of  criminal and regulatory matters and internal and government agency investigations.

India > Intellectual property Tier 5