Cyril Amarchand Mangaldas > Mumbai, India > Firm Profile

Cyril Amarchand Mangaldas
MUMBAI 400 013

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.

Key clients

Jio Digital Fibre Private Limited

Reliance Jio Infratel Private Limited

State Bank of India

JPMorgan Chase

ICICI Bank Limited

Adani Capital Private Limited

Sumitomo Mitsui Banking Corporation

Power Finance Corporation

Kotak Mahindra Bank Limited

The Hongkong and Shanghai Banking Corporation (HSBC)

Work highlights

  • Advised State Bank of India, Punjab National Bank, Union Bank of India, Indian Bank and Bank of Baroda on its multibillion-dollar load to the State of Andhra Pradesh for the purposes of social infrastructure developments.
  • Advised Jio Digital Fibre as borrower and Digital Fibre Infrastructure Trust as lender on a multibillion-dollar term loan facility for the purpose of pre-payment of its existing senior lenders.
  • Advised a consortium of lenders led by SBI in relation to the rupee term loan facility aggregating to INR 3976 crores availed by Chhattisgarh East-West Railway Limited for the purpose of development, financing, construction, operation and maintenance of the Chhattisgarh East West Railway Corridor.

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.

Practice head(s):


‘Always hands-on and dependable. It’s hard to fault CAM’s capital markets practice for their rigour. With decades of experience put to work, they are easily the finest capital markets team in the market. The team is diverse and a go-to for large complex deals. I think they stand out for their ability to assess risk and manage conflicts.’

‘Yash Ashar, Gokul Rajan and Rohit Tiwari are a solid team of lawyers and safe pairs of hands on deals.’

Key clients

Gland Pharma Limited

Morgan Stanley India Company Private Limited, BofA Securities India Limited

Citigroup Global Markets India Private Limited

HSBC Securities and Capital Markets (India)

Indigo Paints Limited

Burger King India Limited and QSR Asia Pte. Ltd.

Kotak Mahindra Bank Limited

Avenue Supermarts Limited

Kotak Mahindra Capital Company Limited

Bandhan Financial Holdings Limited

Citigroup Global Markets India Private Limited (Citigroup) and Edelweiss Securities Limited (Edelweiss)

Standard Life (Mauritius Holdings) 2006 Limited

Standard Chartered Bank

JSW Steel Limited and Periama Holdings, LLC

Work highlights

  • Acted as the Indian legal counsel to Gland Pharma and certain selling shareholders in connection with the IPO of Gland Pharma.
  • Acting as Indian legal counsel to the lead managers for the initial public offering of the units of Brookfield India Real Estate Trust consisting of a fresh issue of units aggregating up to INR 38,000 million.
  • Acted as the legal counsel to Computer Age Management Services Limited as to Indian law for an IPO of 18,246,600 equity shares by way of an offer for sale by NSE Investments Limited for cash at a price of INR 1,230 per equity share.

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.

Practice head(s):

Key clients

Adani Group

Punjab National Bank

NTPC Limited

Jindal Steel & Power Limited

Canara Bank

Bharti AXA General Insurance Company Limited and Bharti

General Ventures Private Limited

Mitsui Sumitomo Insurance Company Limited

Adani Green Energy Limited

Grasim Industries Limited

Tata Sons Private Limited ; Tata Teleservices Limited

ITC Limited

Cadila Healthcare Limited

Escorts Limited

ABB India Limited and ABB Asea Brown Boveri Ltd

Principal Financial Group

Axis Bank Limited

GVK Group

Signify NV/ Signify Innovations India Limited

Work highlights

  • Advised Reliance Industries and Reliance Retail Ventures on its $6.5bn investment from eight separate private equity funds.
  • Advised Adani Ports and Special Economic Zone Limited on its 75% stake acquisition of Krishnapatnam Ports Company.
  • Acted as counsel to Punjab National Bank (PNB) in relation to the amalgamation of Oriental Bank of Commerce and PNB.

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 ‘outstandingAditya Mehta and Shalaka Patil are also based.

Practice head(s):

Cyril Shroff; Shaneen Parikh


Due to the nature of our global business, our software products and commercial projects, our legal disputes are usually very complex and require certain expertise and understanding of the software industry and our products. Aditya Mehta has always taken the time to fully understand our business, the software products involved in a specific dispute and the technical details of the particular project. He has been very successful in navigating through tough legal challenges and his level of sophistication and analysis have always given us a major advantage over opposing counsel and resulted in excellent results for us.’

‘Aditya Mehta is an outstanding litigator and has always achieved excellent results for us and our shareholders. He is extremely strategic, sophisticated and business-oriented and has always taken the time to fully understand our business goals, objectives and strategy.

Aditya Mehta is a top-notch litigator and a trusted advisor with an outstanding track record. The level and quality of his legal services are unmatched and he is a pleasure to work with.’

Key clients

Dr. Bina Modi

Board of Control for Cricket in India

Fortis Hospitals Limited

GE Power Conversion India Private Limited

Samsung C&T

NSE Indices Ltd

J.P. Morgan Services India Private Limited

Nirlon Limited

Sheela Foam Limited

Procter & Gamble Hygiene and Healthcare Limite

Work highlights

  • Representing the Board of Control for Cricket in India in a dispute relating to the alleged wrongful rescission of a media rights license agreement in relation to a popular cricket league.
  • Acted for GE Power Conversion India Private in a foreign seated arbitration brought by an Indian party and in enforcement proceedings filed before the Gujarat High Court for the enforcement of the foreign award.
  • Represented Samsung C & T Corporation before the Indian Council of Arbitration in an international commercial arbitration against a government entity relating to a contract for supply fertilizer grade urea to the importing government entity.

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 DeshmukhBharat 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.


‘Aditya Mehta is an outstanding litigator and has always achieved excellent results for us. He has always demonstrated the utmost professionalism, dedication and commitment to his client. He is extremely strategic, sophisticated and business oriented, and has always taken the time to fully understand our business goals, objectives and strategy.’

Mr. Mehta is a top-notch litigator and a trusted advisor with an outstanding track record. The level and quality of his legal services are unmatched and he is a pleasure to work with.’

Key clients

Administrator, Delhi Gymkhana Club

Jindal Steel and Power Limited

Essar Bulk Terminal Limited GE Power Conversion India Private Limited

Samsung C & T Corporation

63 Moons Technologies Limited (formerly Financial Technologies India Limited (FTIL))

Maddock Films Private Limited

Board of Control for Cricket in India Fortis Hospitals Limited

Tenneco Inc.

Aurora UK Bidco Limited (“Aurora”)

Edelweiss Financial Services Limited

ECL Finance Limited, Edelweiss Retail Finance Limited

Committee of Creditors of Dewan Housing Finance Corporation Limited

Voith Hydro Ltda, Voith Hydro SpA and Voith Hydro Private Limited

M/s SEMI, S.A. No Sinhgad Technical Education Society

Procter & Gamble Hygiene and Healthcare Limiteds

Gillette India Limited & Procter & Gamble Home Products Private Limited

Langham Capital India Private Limited

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.

Practice head(s):

Other key lawyers:


Great responsiveness, coordinated, sound advice that’s practical.’

‘Our lead partner is Anu Tiwari. He’s always available for a consult, and gives very practical advice. It’s extremely valuable to have an advisor who’s available when an urgent situation arises. It’s even more important given that we’re offshore and we need a fair bit of hand holding from the local experts.’

Key clients

DreamPlug Technologies Private Limited, which owns and operates the credit card platform ‘CRED’

Western Union Financial Services Inc

Experian plc

Work highlights

  • Advised DreamPlug Technologies Private Limited, which owns and operates the credit card platform ‘CRED on its recent USD81 million Series C financing round led by DST Global and also included Sofina and Coatue.
  • Advising Western Union on the implications of (i) Indian Information Technology Laws, including the impending Personal Data Protection Bill; (ii) the Supreme Court of India’s decision resulting in the invalidation of private usage of the Aadhaar database for undertaking e-KYC functions; (iii) amendments to the Prevention of Money Laundering Laws on customer onboarding process; (iv) moratorium imposed by the RBI on YES Bank and the YES Bank Reconstruction Scheme, 2020.
  • Advising Experian, as part of a US acquisition, on detailed implications in relation to the US target’s operations in India, including from an Indian information technology standpoint, data privacy including implications under the proposed Personal Data Protection Bill, Intermediaries Guidelines, and other technology laws applicable to the business operations of the US target in India.

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.

Practice head(s):

Other key lawyers:


‘Fine team of skilled and experienced lawyers who are responsive and well-versed.’

‘The team listens carefully before coming up with suggestions which is a rare quality. The entire team are professional and have good experience in most legal matters. Great speed of turnaround and focus.’

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.

Other key lawyers:


‘A highly capable private equity team with an excellent understanding of the requirements of foreign investors into the Indian market. Commercially astute and pragmatic legal advice always delivered promptly. Excellent understanding of the complex and routinely changing Indian regulatory landscape. Very strong drafting skills relative to the market.’

‘Ravindra Bandhakavi is outstanding and a market leader in this field.’

Key clients

Reliance Industries Limited

Piramal Enterprises Limited

Brookfield Asset Management

International Finance Corporation (IFC)

Alpha Wave Incubation (Alpha Wave) and LGT Lightstone

Aspada (LGT)

Everchem Asia Private Limited (an Everstone entity)

Biocon Biologics Limited

Google International LLC

IndoStar Capital Finance Limited

Warburg Pincus Group

Multiples Alternate Asset Management Private Limited

Caisse de dépôt et placement du Québec

National Investment and Infrastructure Fund Limited

Work highlights

  • Advised Reliance Industries on its $6.5bn dollars for a circa 10% stake in investment from the following private equity investors: Silver Lake Partners (SLP), KKR, Mubadala, ADIA, GIC, TPG, General Atlantic and PIF.
  • Advised Piramel Enterprises Limited (PEL) on The Carlyle Group’s acquisition of  20% interest in the pharmaceutical business of PEL.
  • Advised Brookfield Asset Management on the acquisition of 12.4m sq ft of commercial assets from RMZ Corp.

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.

Other key lawyers:

Key clients

L&T Infrastructure Finance Company Limited

Power Finance Corporation Limited

Amplus Green Power Private Limited

Power Finance Corporation Limited

State Bank of India

Zurich Airport International AG (Zurich Airport)

IDBI Bank Limited, State Bank of India and Others

Axis Bank Limited

Adani Electricity Mumbai Limited (AEML)

Adani Power Maharashtra Limited

Work highlights

  • Advised L&T Infrastructure Finance Company Limited on a rupee loan facility aggregating to 421.79 crores to DBL Mahagaon Yavatmal Highways Private Limited.
  • Acted as lender’s legal counsel to Power Finance Corporation Limited for providing a rupee loan facility aggregating to 1411.58 crore to Adani Wind Energy.
  • Acted as borrower’ legal counsel to Amplus Green Power Private Limited on a rupee loan facility aggregating to 195 crore from Axis Bank Limited and Tata Cleantech Capital.

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.

Practice head(s):


‘The firm has assisted us with large and complex transactions. They have significant experience and knowledge in the field. Their in-depth knowledge is also attributable to the fact that they are actively involved in policy making and law advocacy initiatives. They have shown capability of delivering effective solutions to complex problems, arising during insolvency process.’

‘In this practice area, we have extensively worked with Mr. L Viswanathan and Mr. Madhav Kanoria. Mr. L Vishwanathan, along with his vast experience, is innovative and thoughtful in his approach. As a team, Mr. L Vishwanathan and Mr. Madhav Kanoria have always been solution oriented. They analyse all risks/eventualities in the case at hand and offer a solution, which suitably takes care of the interests of their clients.’

Key clients

Committee of Creditors of Dewan Housing Finance Corporation Limited (DHFL)

State Bank of India

Reliance Industries Limited

Bank of Baroda


Union Bank of India

Board of directors of Infrastructure Leasing & Financial Services Limited

Alvarez and Marsal

Eight Capital

JSW Group

Adani Group

IDBI Bank Limited

Committee of Creditors of the consolidated Videocon group companies

Yes Bank Limited

Work highlights

  • Engaged as the legal counsel to the committee of creditors of DHFL.
  • Advised SBI on a scheme proposed in relation to the restructuring and recapitalisation of Yes Bank Limited
  • Advised Reliance Projects & Property Management Services, undergoing corporate insolvency under the IBC.

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.

Other key lawyers:


‘The team has experience working on the most complex and high-profile matters in the market. ’

‘Arun Prabhu is a strong advocate in negotiations and is great at spotting potential issues.’

‘One of the leading firms with a great team. The Bangalore team lead by Arun Prabhu is highly knowledgeable and experienced. Timely and business-friendly advice is where CAM excels.’

‘Arun Prabhu is a highly qualified, experienced, and yet approachable partner in CAM’s Bangalore team. He and Anirban Mohapatra are always available for advice and are extremely business-friendly in their approach and advice.’

Key clients

Ajay Devgn Films LLP

Maddock Films Private Limited

Nadiadwala Grandson Entertainment Private Limited

Equinix Asia Pacific Pte. Limited

Sequoia Capital

Warburg Pincus

Adani Enterprises Limited

Apollo Hospital Enterprises Limited

Western Union


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.

Practice head(s):

Other key lawyers:


‘Very responsive and knowledgeable.’

‘Anshuman Sakle was a great help in our last major transaction.’

Key clients

Adani group

Reliance Industries group

The Blackstone Group Inc.

Siemens Limited

Warburg Pincus LLC

NTPC Limited

API Holdings Private Limited

CRISIL Limited


Axis Bank

Work highlights

  • Advised Adani Airports Holding Limited in relation to the acquisition of GVK Airport Developers Limited.
  • Advised APSEZ on its acquisition of a 75% equity shareholding of Krishnapatnam Port Company Limited.
  • Advised Spring Canter Investment Limited, an affiliate of Warpurg Pincus LLC, in relation to its increase in shareholding (in two tranches) in Rivigo Services Private Limited.

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.

Practice head(s):


‘The team showed a strong understanding of not only insurance regulations but also their practical workings. Its ability to follow and comprehend the recent developments in the insurance sector was a differentiator.’

‘Indranath Bishnu is a hands-on lawyer who provides well-reasoned advice.’

Key clients

Axis Bank Limited

Bharti AXA General Insurance Company Limited and Bharti General Ventures Private Limited

Marsh India Insurance Brokers Private Limited and Marsh & McLennan Inc.

Standard Life (Mauritius Holdings) 2006 Limited (Standard Life)

Navi Technologies Private Limited

Mitsui Sumitomo Insurance Company Limited

QBE Insurance Group Limited (QBE)

Premji Invest

Dai-ichi Life Holdings, Inc.

Work highlights

  • Acting as legal counsel to the Axis Group in its proposed acquisition of shares of Max Life Insurance Company Limited from Max Financial Services Limited.
  • Acting as legal counsel to Bharti AXA and Bharti General in the proposed demerger of the general insurance business of Bharti AXA into ICICI Lombard General Insurance Limited , in consideration of equity shares being issued by ICICI Lombard to the shareholders of Bharti AXA.
  • Advised MSI on subscribing to shares of Max Financial Services Limited in consideration for the transfer of certain shares held by MSI in Max Life Insurance Company Limited to Max Financial.

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.

Practice head(s):


‘Very competent and articulate professionals. Knowledge and experience is clearly evident.’

‘Abe Abraham has been very responsive.’

‘The firm is thorough, responsive and technically sound. In addition, their turnaround time is fantastic.’

Key clients

Royal Bank of Scotland

Credit Suisse

Air Mauritius



Benetton Group

Bytedance (TikTok)

Canada Pension Plan Investment Board

Boston Consulting Group

Goldman Sachs

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.

Other key lawyers:

Key clients

Brookfield Asset Management

Keppel Land Limited

Blackstone Advisors India Private Limited

Embassy Office Parks REIT

KCHN Developers Private Limited

Envestnet Asset Management India Private Limited

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.

Practice head(s):

Other key lawyers:


‘The team are extremely well-versed in the subject, both at a technical and practical level. They specialise in complex tax issues and are able to offer commercially workable solutions. They are also very dependable and responsive to the client’s needs and concerns.

‘SR Patnaik offers a wealth of experience in this very thorny and often complicated area of Indian law and regulation. He is pragmatic in his approach, and creative in finding solutions which work to achieve all objectives. He is also very responsive and quick to turn around matters.’

Key clients

Mitsui Sumitomu Insurance

Kirkland & Ellis LLP (New York)

Murugappa Group

Brightstar Logistics and Brightstar Corporation

Gourmet Popcornica

Work highlights

  • Advised Mitsui Sumitomo Insurance Company, Limited on the structuring of a transaction in a tax-efficient manner, along with rendering assistance on negotiations and review of the agreements, in respect of a share swap transaction.
  • Working alongside Kirkland & Ellis LLP, advised on the tax implications of an acqusition transaction and assisted in finalisation of the transaction documents within stringent timelines.
  • Acted as counsel for Murugappa Group (TIIL), with the tax team assisting in analysing the tax implications of the restructuring, including recommendation of novel structures for undertaking the transactions in light of the new regulations as well as commercial exigencies.

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.

Practice head(s):

Cyril Shroff; Gauri Rasgotra

India > Intellectual property Tier 5

Cyril Amarchand Mangaldas is India’s largest full-service law firm, with about 750 lawyers, including 130 partners, and offices in India’s key business centres of Mumbai, New Delhi, Bengaluru, Hyderabad, Ahmedabad, and Chennai.

Our practices include corporate/commercial, banking and finance, capital markets, litigation and dispute resolution, projects, competition law, employment, financial services regulatory, investment funds, intellectual property, private clients, real estate, tax, investigations and TMT, amongst others.

Our clients comprise domestic and foreign commercial enterprises, technology companies, financial institutions, private equity funds, venture capital funds, start-ups and government and regulatory bodies.

We have been consistently recognised for our top quality work by leading international as well as domestic publications.

Our recent work includes:

  • Advising Reliance Industries in the proposed investment of US$3.7bn by Brookfield Group in the  Tower Infrastructure Trust  comprising of the tower infrastructure business of Reliance Jio.
  • Advising Hindustan Unilever Limited in the US$4.5bn (approx..) amalgamation with GlaxoSmithkline Consumer Health care Limited which is the largest deal in the consumer goods space in India.
  • Acting as the Indian Legal Counsel to The Procter & Gamble Company in relation to the US$4.2bn (approx.) acquisition of Consumer Health Business of Merck KGaA, Darmstadt, Germany.
  • Advising REC Limited in  Power Finance Corporation Limited’s  acquisition of Government of India’s 52.63% stake in REC Limited
  • Advising Reliance Industries Limited in relation to its acquisition of controlling stake of 51.03% in Hathway Cable and Datacom Limited for US$422m (approx.)
  • Acting as Indian legal counsel to SoftBank and DiDi in multiple investment rounds (both primary and secondary) in Oravel Stays Private Limited (“Oyo”).
  • Advising Bank of Baroda in the US$216bn (approx.) proposed amalgamation of Vijaya Bank and Dena Bank with Bank of Baroda. This is the first amalgamation of listed nationalized banks with public shareholders and first three–way merger of nationalized banks.
  • Advising Adani Transmission Limited in its acquisition of Reliance Infrastructure’s Mumbai Power Business, making it the country’s largest private sector integrated power utility.
  • Advising Embassy REIT in setting up an IPO of India’s first REIT – Embassy Office Parks Real Estate Investment Trust.
  • Representing the respondent banks and financial institutions in the matter of Swiss Ribbons v. Union of India before the Supreme Court of India which upheld the constitutional validity of the IBC in entirety, setting aside all challenges by several petitioners.
  • CAM’s competition law team acted for and advised Flipkart in relation to securing an unconditional approval from the Competition Commission of India (“CCI”) in Walmart Inc.’s (“Walmart”) acquisition of approximately 77% shareholding in Flipkart for US$16bn (approx.).
  • Project Sashakt is the unique solution adopted by Indian banks to resolve stressed assets in the Indian banking sector, which provides for a ‘five-pronged approach’. The Firm has worked closely with the Sunil Mehta Committee in conceptualising, drafting and finalising the industry-spanning ‘Inter-creditor Agreement for Resolution of Stressed Assets’ that has already been signed by a number of banks and non-bank financial institutions. As part of this exercise, lawyers of the Firm along with the Committee members engaged with the leadership of banks and financial institutions to achieve consensus on the framework and reach a common ground.
Managing Partner Cyril 22 24964455
Head-General Corporate Reeba 80 67922000
Chair- Project & Project Finance L 22 24964455
Financing Santosh 22 24964455
Head-Capital Markets Yash 22 24964455
General Corporate Vandana 22 24964455
Funds,Investments & Advisory , General Corporate Shagoofa Rashid 22 24964455
Head-Competition Law Avaantika 22 24964455
General Corporate , Employment,Corporate Governance Rashmi 80 67922000
Financial Regulatory Practice Shruti 22 24964455
General Corporate , Private Client Practice Rishabh 22 24964455
General Corporate , Private Client Practice Radhika 22 24964455
Real Estate and Dispute Resolution Namrata 80 67922000
Real estate and Conveyancing Sandeep 22 24964455
Head- International Taxation ; Tax Daksha 22 24964455
Head- Taxation S R Patnaik, 66229000
General Corporate,TMT Arun 80 67922000
General Corporate, Media & Entertainment Practice Bharat 22 24964455
Deputy Head- General Corporate Nivedita 80 67922000
Financing Leena 22 24964455
Financing Pranav 22 24964455
General Corporate Shishir Jose 22 24964455
Head – Mergers & Acquisitions Akila 11 66229000
Head-South, General Corporate Arjun 80 67922000
Deputy Head- Delhi ,Dispute Resolution Gauri 11 66229000
Dispute Resolution Shaneen 22 24964455
Head- Private Equity ;General Corporate Ravindra 11 66229000
Co-head,Real Estate Abhishek 22 24964455
Project and Project Finance Dhananjay 22 24964455
Project and Project Finance Amey 22 24964455
Dispute Resolution Gyanendra 11 66229000
Capital Markets Gokul 11 66229000
White Collar Crime Faraz Alam 11 66229000
Mr Yash Ashar  photo Mr Yash Ashar Partner (Head- Capital Markets)
Ms Daksha Baxi  photo Ms Daksha Baxi Head – International Taxation
Mr Sandeep Dave  photo Mr Sandeep Dave Partner
Ms Radhika Gaggar  photo Ms Radhika Gaggar Partner
Mr Santosh Janakiram  photo Mr Santosh Janakiram Partner
Ms Avaantika Kakkar  photo Ms Avaantika Kakkar Partner
Ms Shagoofa Khan  photo Ms Shagoofa Khan Partner (Head – Funds, Investments, Advisory)
Ms Shruti Rajan  photo Ms Shruti Rajan Partner
Mr Cyril Shroff photo Mr Cyril ShroffManaging Partner
Mr Rishabh Shroff  photo Mr Rishabh Shroff Partner
Mr Bharat Vasani    photo Mr Bharat Vasani Partner
Mr L Viswanathan  photo Mr L Viswanathan Partner (Chair – Finance, Projects & Bankruptcy)
Number of lawyers : 700
at this office : 320
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