JSA Law > New Delhi, India > Firm Profile
JSA Law Offices
B 303, 3rd Floor, Ansal Plaza, Hudco Place, August Kranti Marg, New Delhi – 110049, Delhi, India
JSA Law > The Legal 500 Rankings
India > Banking and finance Tier 1
Areas of recent focus for JSA Law' banking and finance practice include the provision of advice to banks and NBFCs on structured trade finance, and assistance with financing rounds into infrastructure investment trusts; Anish Mashruwala handles the former. Aashit Shah heads the practice, advising on the full range of real estate finance including acquisition finance, project development loans and lease rental discounting. Dina Wadia and Utsav Johri are key partners, known for handling the full scope of debt transactions including structured deals. In an impressive mandate, the team advised a consortium of international lenders (comprising Barclays, BNP Paribas and SCB among others) on the ECB leveraged buyout arrangements delivered to a major manufacturing corporate.
‘JSA is one of our top-two go-to firms in India. They have represented us in several onshore debt (NCD) transactions. They get deals done efficiently and produce high-quality advice and documentation. JSA knows India deals.’
‘Aashit Shah is a stand-out Indian law firm partner who is invariably our first stop for advice on finance deals. He is sharp, energetic and personable. We recommend Aashit without reservation. His team is also great. Partner Utsav Johri is hardworking and capable – always a safe pair of hands on deals. ’
‘JSA is one of our preferred counsels for banking and finance transactions. They have a good team of lawyers and are thorough in research. ’
Standard Chartered Bank
Credit Suisse AG
State Bank of India
Citibank / Citigroup
DBS Bank Limited
Sumitomo Mitsui Banking Corporation
CDC Group Plc
First Abu Dhabi Bank, UAE
EXIM Bank of India
- Advised SJVN Thermal on its 8448 crore term loan facility availed to a consortium of lenders for the part financing of a 1320 MW coal-based thermal power project.
- Acted as Indian counsel to the syndicate of lenders (Barclays Bank, BNP Paribas, The Hongkong and Shanghai Banking Corporation Limited, Investec Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation) and mandated lead arrangers and bookrunners in connection with a secured ECB of $360m to PGP Glass Private Limited, an Indian SPV owned by The Blackstone Group.
- Advised DB Internationa and Standard Chartered Bank (Singapore) in connection with issuance of redeemable, rated, listed, secured, non-convertible bonds aggregating to 2,500 crores by West Waves Maritime & Allied Services.
India > Capital markets Tier 1JSA Law‘ capital markets team expanded in June 2020, with Madhurima Mukherjee and her team, including partner Niruphama Ramakrishnan, joining the Gurugram office from AZB & Partners. The group advises on equity capital markets transactions on the underwriter side as well as debt capital markets matters, and has seen an increase in instructions relating to public InvITs. The team also handles SEBI registrations. In Mumbai, Arka Mookerjee has over a decade of expertise in IPOs, QIPs and convertible bonds, whilst Dina Wadia leads the debts capital markets group, and Uttara Kolhatkar covers the full range of capital markets transactions. Rohitashwa Prasad is also a key contact in Gurugram.
‘Good team with knowledge of InvIT regulations.’
‘Madhurima Mukherjee and Niruphama Ramakrishnan are well versed in SEBI issues with respect to InvITs.’
Rossari Biotech Limited
Laxmi Organics India Limited
Craftsman Automation Limited
The Phoenix Mills Limited
National Commodities and Derivative Exchange Limited
Alembic Pharmaceuticals Limited
Shriram Transport and Finance Company Limited
IDFC FIRST Bank Limited
Dilip Buildcon Limited
One Mobikwik Systems Private Limited
National Highways Authority of India
Power Grid Corporation of India Limited
Cerestra Advisors Private Limited
Affle India Limited
GR Infra Limited
Antony Waste Handling Cell Limited
Century Metal Restructuring
Railtel India Limited
Export-Import Bank of India
State Bank of India
Power Finance Corporation Limited
ICICI Securities Limited
Axis Capital Limited
Citi Group Capital Market Limited
IIFL Securities Limited
JM Financial Limited
SBI Capital Markets Limited
Shyam Metalics and Energy Limited
Sundaram Finance Holdings Limited
- Advised Axis Capital Limited and ICICI Securities Limited in relation to the recently concluded initial public offering of Rossari Biotech Limited.
- Advised on the qualified institutions placement of equity shares by the Phoenix Mills Limited with CLSA India Private Limited, HSBC Securities and Capital Markets (India) Private Limited, Kotak Mahindra Capital Company Limited and UBS Securities India Private Limited acting as the lead managers to the issue.
- Advised ICICI Securities Limited, BNP Paribas, Citigroup Global Markets India Private Limited, Credit Suisse Securities (India) Private Limited, HSBC Securities and Capital Markets (India) Private Limited, J. P. Morgan India Private Limited, Axis Capital Limited and SBI Capital Markets Limited in relation to the INR14.9bn rights issue by STFC Limited.
India > Corporate and M&A Tier 1Present across the major financial hubs in the country, JSA Law‘ corporate and M&A team advises prestigious domestic and international corporates on the breadth of transactions, corporate governance and regulatory issues. Co-heads Sajai Singh and Shivpriya Nanda, Sidharrth Shankar, Rupinder Malik and Sandeep Mehta are equally adept at guiding clients through strategic acquisitions and divestments, distressed M&A, and post-acquisition integrations. With impressive knowledge of the technology sector, Bangalore-based Probir Roy Chowdhury is deployed on marquee deals, including Google’s multibillion-dollar strategic investment in Jio Platforms. Further recent deal highlights were executed in the automotive, telecoms, retail and media and entertainment sectors.
‘Thoroughness, responsiveness and commercial orientation.’
‘Great experience in complex transactions and working well as part of a global legal team.’
‘Venky Prasad is a fantastic resource for the firm. Experienced, easy to work with and highly capable.’
Amazon Asia-Pacific Resources Pte. Ltd
ANI Technologies (OLA)
Ford Motor Company
Government of India
India Power Grid Trust
Indiabulls Real Estate Limited (IBREL)
PayU Global B.V.
TVS Supply Chain Solutions Limited
The Hain Celestial Group
Wolters Kluwer United States Inc
- Advised Google on its strategic investment in Jio Platforms of $4.5bn.
- Advised Indiabulls Real Estate on the proposed merger of N.A.M. Estates Private Limited and Embassy One Commercial Property Developments Private Limited.
- Advised Mastercard on its 100% acquisition of Finicity Corporation and its subsidiary – Finicity Technologies.
Other key lawyers:
‘A very good team who provide very realistic opinions. They are good at drafting and excellent at briefing senior counsel based on counsel’s strongest points and at the management of perspectives and requirements.’
‘Dhirender Negi is an excellent lawyer for any corporation requiring dispute resolution.’
‘Good team, presence across all verticals, transparent billing.’
‘Excellent knowledge and problem-solving approach.’
India > Projects and energy Tier 1Having carved out a name for itself for climate change, sustainability and environmental regulation expertise, JSA Law is a go-to name for large-scale related projects, encompassing PPPs, M&A transactions, project financing and EPC contract structures. Co-heads Venkatesh Raman Prasad and Vishnu Sudarsan also advise on government policy and regulations. Co-head Amit Kapur has vast experience in multibillion-dollar, precedent-making PPPs in the electricity and transport sectors. The practice advises on gas supply infrastructure and gas trading platforms, and in the aerospace sector, Sudaran and Ashish Suman assist with brownfield site privatisation contracts. Abhishek Munot handles commercial litigation and arbitration in the energy sector for major multinationals.
‘Very good understanding of oil and gas in India, including the regulatory framework, bidding and approval process, arbitration.’
‘No professional arrogance or superiority and the individuals show respect for the views expressed by the client and guides them properly.’
Hero MotoCorp Limited (HMCL)
Asian Development Bank
Convergence Energy Services
Model Economic Township
Hero Future Energies
Energy Efficiency Services Ltd
Dilip Buildcon Limited
Indian Gas Exchange Ltd.
Vestas Wind Systems A/S
STT Global Data Centre
Airports Authority of India
Indian Oil Corporation Limited
World Bank Group
Reliance Infrastructure Limited
Oil and Natural Gas Corporation Limited
India Grid Trust
Cargill India Pvt. Ltd
RATP Dev and Transdev Asia
Juniper Energy & AT Group
Sterlite Power (Vedanta Group)
Reliance Infratel Limited
Jindal Steel and Power Limited
Selan Exploration Technology Ltd
Ministry of Railways
Tata Power Delhi Distribution Private Limited
BSES Rajdhani Power Private Limited
NTPC Vidyut Vyapar Nigam Limited
Oil India Ltd
Yamuna Expressway Industrial Development Authority
Talwandi Sabo Power Ltd. (TSPL)
GM Vemagiri Power Generation Limited
C.G. Power and Industrial Solutions Limited (“CG”)
Connectwell Industries Pvt Ltd.
UltraTech Cement Ltd.
WebEx Communications India Private Limited
Devas Multimedia Pvt. Ltd.
Association of Power Producers
Tata Power Trading Company Limited
Shapoorji Pallonji Group
Tata Power Renewable Energy Limited
Coastal Gujarat Power Limited
UltraTech Cements Limited
BLP Wind Projects (Amberi) Private Limited
Continuum Wind Energy
CG Power and Industrial Solutions Limited
K. Raheja Group
Netmagic IT Solutions Pvt. Ltd.
Superior Energy Services Holdings B.V.
Resurgent Power Ventures
National Highways Authority of India
UP Power Corporation Limited
- Successfully represented Lalitpur Power Generation Company Limited before the Appellate Tribunal for Electricity challenging Uttar Pradesh ERC’s Order denying Change in Law relief and in-principle approval for incurring capital expenditure for complying with Ministry of Environment, Forest and Climate Change Notification prescribing revised emission norms for thermal power plants.
- Advised Indian Gas Exchange Limited on the launch of India’s first automated national level Gas Trading Platform (GTP) which will enable market participants to trade in standardised gas contracts.
- Successfully represented UltraTech Cement before Ld. Andhra Pradesh Electricity Regulatory Commission in obtaining a relief that the power consumed from waste to heat recovery system based cogeneration plants has to be treated at par with consumption of electricity from renewable energy sources.
At JSA Law, the team is headed by Farhad Sorabjee in Mumbai and handles a significant volume of merger control matters. The group also has a sizeable contentious offering and frequently represents clients before the High Courts and CCI in abuse of dominance cases; New Delhi-based Vaibhav Choukse is the key name here, with support from associate Ela Bali. Energy, pharmaceuticals, and chemical manufacturing remain core areas of activity for the group.
Ford Motor Company
Hyundai Motors India Limited
Temasek Holdings (Private) Limited
Aisan Industry Co., Ltd. (Japan)
Mirae Asset-Naver Asia Growth Investment Pte. Ltd.
DP World (Dubai Ports)
Kubota Corporation, Japan
Mikuni Corporation, Japan
Cinepolis India Private Limited
JSW Steel Limited
Continental India Private Limited
John Deere India Private Limited
Adani Power Limited
Prestige Projects Private Limited
Volvo Group India Private Limited
- Successfully defended Diamond Electric Manufacturing Co. Limited, Mikuni Corporation and Aisan Industry Co. before the CCI in relation to claims of alleged cartelisation among Japanese auto-component manufacturers for the supply of auto-parts to global original equipment/car manufacturers.
- Acted for the Prestige group in seeking CCI approval for the sale of its assets (commercial offices, retail and hotel properties, and its mall management and maintenance business) to the Blackstone Group Inc. in a billion-dollar deal.
- Acted for Goldman Sachs in seeking CCI approval for a business combination involving ReNew Power Private Limited.
At JSA Law, the civil aviation practice is singled out for its strength in litigation and has appeared in cases before the Supreme Court of India. Leading domestic carriers and international airlines engage the firm for contractual disputes, as well as for commercial and corporate finance matters. The team also handles aircraft leasings and aircraft financings. In Delhi, seasoned practitioner Poonam Verma leads the team, while joint managing partner Amit Kapur is the key contact for complex regulatory issues. Shivpriya Nanda in Haryana advises major transport clients on privatisation projects and M&A and other transactions.
Sistema Shyam Teleservices
Aviva Life Insurance Company India
Hahn Air Lines
Hubbell Group of Companies
- Advised Rakuten Mobile (a wholly owned subsidiary of Rakuten Inc.) on its 100% acquisition of Innoeye Software Technologies and Innoeye.
- Advised several clients on the impact of the Supreme Court’s recent ruling on the interpretation of ‘basic wages’ under provident fund law, particularly relating to wage restructuring, past compliance, risk assessment of liability, and provisioning of provident fund liability in the books of accounts of various clients.
- Advised an Indian subsidiary of a US data and telecoms equipment provider on several contentious aspects of employee terminations, relating to post-acquisition termination of employment on grounds of non-performance, and responding to employee’s claims on disability benefits and medical compensation.
Affirma Capital (formerly SCB PE)
A91 Capital Partners
Baring Private Equity Asia
Creador Private Equity
eBay Singapore Services Pte LtdPrestige Estates Projects Limited
Good Capital Fund I
Motilal Oswal Private Equity
Multiples Alternate Asset Management Private Limited
Norwest Venture Partners
Oman India Joint Investment Fund
Tata Healthcare Fund
Qualitest Group (owned by Bridgepoint PE)
Unitus Seed Fund II
- Assisted Baring Private Equity Asia with the successful delisting of the equity shares of Hexaware Technologies Limited from the stock exchanges in India.
- Advised on the setting up of the Build-To-Core II platform (GBTC II) by Godrej Fund Management, the real estate private equity arm of Godrej Group.
- Advised Altruista Health Holdings L.L.C. on the India law aspects of the sale of Altruista Health which was owned by a healthcare-focused private equity firmvMartis Capital, to HealthEdge Software.
Prestige Estates Projects Limited
Indiabulls Real Estate Limited
Lodha Developers International Limited
APG Strategic Real Estate Pool N.V.
WeWork India Management Private Limited
Mapletree Logistics Trust
- Advised Prestige Group on the recently concluded Phase I of the $1.5bn Prestige-Blackstone portfolio acquisition transaction.
- Advised Indiabulls Real Estate Limited on the proposed merger of NAM Estates Private Limited and Embassy One Commercial Property Developments Private Limited, both Embassy Group entities with IBREL.
- Advised Godrej Fund Management on the setting up of the Build-To-Core-II platform.
‘Well versed knowledgeable team support during entire CIRP process.’
‘The JSA team led by Aashit Shah are all-rounders with a birds eye view on the restructuring space in India as they work with key regulators, government agencies and clients. They have the unique combination of being technically sound, well priced, perfect turnaround time, well researched and professional in their approach. JSA are market leaders in the practice and their know-how is far ahead of many of their large competitors.’
‘Aashit Shah is an outstanding professional who has possesses the exact qualities a client would look for in their counsel. Aashit and his team are proficient in this space and are able to provide well researched advice which is almost spot on in terms being technically sound as well as pragmatic given the restructuring space being nascent and developing in India.’
‘The team at JSA is very thorough in their analysis of laws and facts and is painstakingly detail oriented. This gives us a lot of comfort to us as a client in large and complex transaction, where every small detail matters.’
Standard Chartered Bank
State Bank of India
Ares SSG Capital
Altico Capital India Pvt Ltd
Bank of Baroda
Mr. Vaaranasi Venkatachalam as the Resolution Professional
CDC Group Plc
- Handled the out-of-court restructuring of the debt of the Suzlon Energy Limited and all its group companies.
- Advising Ares SSG Capital Management in relation to the resolution proposal for debt resolution and restructuring of Altico Capital India Limited.
- Advised the Committee of Creditors (CoC) comprising of Deutsche Bank AG Mumbai branch, Bank of India, Citi Bank N.A. India, Corporation Bank and Kotak Mahindra Bank in relation to the corporate insolvency resolution process (CIRP) of Ricoh India Limited.
India > TMT Tier 2JSA Law‘ technology, media, and entertainment practice is routinely instructed by leading figures from the worlds of film and television production and distribution, music production, digital media, professional sport, and video game development. The team is also regularly engaged by clients in print media to advise on contractual issues and editorial content licensing. Probir Roy Chowdhury is recommended for his broad transactional expertise in IT and fintech. The highly experienced Sajai Singh is noted for his capabilities in cross-border mandates, as well as his deep knowledge of the domestic tech market.
India > White-collar crime Tier 2
India > Tax Tier 3JSA Law‘ tax practice ‘provides comprehensive solutions for any litigation‘, in addition to handling M&A and corporate restructuring advisory work and cross-border GST and customs-related transactions. Manish Mishra and Kumarmanglam Vijay head the team from Gurugram, with Mishra overseeing the indirect tax practice and Vijay managing the direct side of cases. Mumbai-based Shareen Gupta offers strong support, particularly in the burgeoning area of the taxability – and the classification – of online gaming set-ups. Other sectors of focus include IT, fintech, energy and manufacturing.
Other key lawyers:
‘JSA provides comprehensive solutions for any litigation because they have a complete team to analyse all the aspects of any case.’
Adyen Technologies India
Energy Efficiency Services
Ford Motor Company
Sameer Mittal & Associates
- Advised Rattan India on the illegality of a levy from a coal supplier and on challenging the same levy before the High Court of Delhi by way of a writ petition.
- Advised Schindler India on the applicability of a local tax on the entry of specific goods into the municipal limits, under a specific agreement executed by the client for the supply and installation of elevators in a metro project in the State of Maharashtra, prior to the implementation of the GST law.
- Advised Energy Efficiency Services on a comparative analysis of the direct and indirect tax implications of a transfer by slump sale versus asset transfer versus de-merger concerning the classification of solar power generating systems.
USD 1.9 billion / INR 14,300 million Institutional placement of units by the National Highways Infra Trust.4th November 2022 JSA acted as counsels to the lead managers for the INR 14,300 million / USD 1.9 billion institutional placement of units by National Highways Infra Trust (“NHAI InvIT”), to domestic and international investors. ICICI Securities Limited and SBI Capital Markets Limited acted as the lead managers to the transaction.
Listing of Grip’s latest alternative investment offering – Securitised Debt Instruments (SDI) at the National Stock Exchange, Mumbai.26th October 2022 JSA advised Grip Invest Advisors Private Limited (“Grip”) on the listing of its latest alternative investment offering - Securitised Debt Instruments (SDI) at National Stock Exchange, Mumbai. This event also marks several firsts for our key stakeholders in this transaction including:
- Banking and finance
- Capital markets
- Corporate and M&A
- Dispute resolution: litigation
- Projects and energy
Top Tier Firm Rankings
- Antitrust and competition
- Aviation (including aerospace and defence)
- Labour and employment
- Private equity and investment funds
- Real estate and construction
- Restructuring and insolvency
- White-collar crime