Majmudar & Partners > Mumbai, India > Firm Profile

Majmudar & Partners
Raheja Chambers, 2nd Floor
Free Press Journal Road, Nariman Point
Mumbai 400 021

India > Corporate and M&A Tier 2

A raft of client wins for Majmudar & Partners‘ corporate, M&A and joint ventures team reflects consistent growth in the life sciences, financial services (including fintech), technology, manufacturing and retail sectors. The trio of co-heads Akil Hirani, Rukshad Davar and Bangalore-based N. Raja Sujith, as well as associate partner Kritika Agarwal  and Amrit Mehta advise on the breadth of mandates, including strategic M&A, joint ventures, corporate restructuring and governance, often in tandem with the firm’s tax and competition experts.

Other key lawyers:


‘A very good firm that has very commercially savvy lawyers. They have a long history of working with international clients and a number of their lawyers are admitted in jurisdictions other than India which makes them very knowledgeable about cross-border deal making.’

‘The firm is led by Mr. Akil Hirani and he is a tremendous resource to clients. He is super knowledgeable, commercially-savvy and even-tempered. He is a long-time cross-border lawyer. I first worked with him over 22 years ago! In short, he gets deals done. Can’t say enough about how I enjoy working with him as do my clients.’

Key clients

Finicity Corporation

Cryoport, Inc.

Betterwork, Inc.

DUS Operating, Inc.

Valagro Biosciences Private Limited

RELX India Private Limited

Chart Industries, Inc.

Perforce Software

Stueve Construction LLC

Pacific Industrial Development Corporation

Work highlights

  • Acted as the Indian legal counsel to Finicity Corporation, a leading North American provider of real-time access to financial data and insights, on its sale to Mastercard, which was one of the largest fintech deals of 2020.
  • Acted as the Indian legal counsel to Cryoport on its acquisition of CRYOPDP Group, a leading global provider of innovative temperature-controlled logistics solutions to the clinical research, pharmaceutical and cell and gene therapy markets, headquartered in Paris, France.
  • Acted as the Indian legal counsel to Betterworks, a US-based performance management software company on its acquisition of HyphenMark, a US-based employee engagement software company for $12m.

India > Dispute resolution: litigation Tier 2

Majmudar & Partners is highlighted as ‘outstanding’ with experience in a range of disputes, particularly banking, intellectual property, and criminal litigation. Based in Mumbai and jointly managed by Neerav Merchant and A.K. Hirani, the group has extensive experience acting for clients operating in the infrastructure, power, and petrochemicals spaces. Experienced associate Niket Mehta is also recommended.

Practice head(s):

Other key lawyers:


‘Majmudar’s dispute resolution team is outstanding. Their advice is legally sound whilst also being commercial and pragmatic. I have found this approach to add significant value.’

‘Neerav Merchant is one of the best litigators in the market. He is pragmatic, a very effective communicator and clearly an expert in his field.’

‘The team is knowledgeable and responsive.’

Key clients

Powerband Industries Pvt. Ltd.

Cooperativa Muratori & Cementisti – CMC di Ravenna (CMC)

Rabigh Refining & Petrochemical Company

Navin Engineer

The Solution House UK Ltd.

JSC Energony

SABIC UK Petrochemicals Limited

Axis Bank Limited

H&R Block (India) Pvt. Ltd.

Work highlights

  • Representing Powerband Industries Pvt. Ltd., a subsidiary of leading multinational Intertape Polymer Group, in proceedings before multiple forums in Daman, Mumbai and Singapore, with respect to certain land use restrictions claimed by the governmental authorities on an industrial plot.
  • Represented Cooperativa Muratori & Cementisti – CMC di Ravenna, an Italian construction company, in a joint venture dispute.
  • Represented Rabigh Refining & Petrochemical Company, a leading Saudi Arabian company, in a case concerning a breach of contract by a UAE entity.

India > Labour and employment Tier 2

Majmudar & Partners specialises in advisory mandates, with a global client roster predominantly from the manufacturing, financial services and insurance sectors. The team, headed up by Neerav Merchant and N. Raja Sujith, is adept at handling employment law due diligence in M&A deals, terminations and employee transfers, as well as contracts drafting and establishing new POSH policies. Other focus areas include breach of confidentiality investigations, and Amrit Mehta also adds strength to transactional and pay-related employment issues, including in regards to ESOP structuring and work from home guidelines required following the Covid-19 pandemic.

Other key lawyers:


‘Sinjini Majumdar is supportive and approachable.’

Key clients

International Game Technology Global Solutions

Gallagher Service Center LLP


LifeWorks (formerly known as Morneau Shepell)

Frontdoor Global Holding Company


H&R Block (NYSE: HRB)


GS Engineering & Construction Mumbai

Transatlantic Law International

Work highlights

  • Advised International Game Technology Global Solutions Corporation, a global leader in the gaming industry, on Indian employment law issues.
  • Advised LifeWorks (formerly known as Morneau Shepell), Canada’s largest employee benefits company, on Indian employment law issues in connection with its Indian subsidiary, Morneau Shepell India LLP.
  • Advising Gallagher Service Center LLP, a subsidiary of the US insurance broking giant AJ Gallagher group, on various employment law issues in India.

India > Tax Tier 2

Majmudar & Partners has become ‘a one-stop service‘ for international corporate clients and high-net-worth investors with tax issues pertaining to transfer pricing, permanent establishment and fund structuring from overseas. The practice is also experienced at handling domestic employee tax and ESOPs work, with Akil Hirani being well-versed in structuring equity compensation plans and M&A-related reorganisations. Ravi Raghavan remains ‘responsive and efficient‘ alongside fellow department co-head Hirani, particularly while forming litigation strategy. Rukshad Davar is another key name, particularly for US-based clients such as NapCloud, when preparing documentation for GST exemptions from service exports.

Other key lawyers:


‘Majmudar & Partners have a tax practice which can offer clients a one-stop service. The tax people are helpful.’

‘Ravi Raghavan is responsive and efficient.’

Key clients

NapCloud USA


DLA Piper, Hong Kong

Govecs Group, Germany


McGill USA

Travers Smith LLP

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian, LLP

Liberty Global Transaction Solutions, USA

Work highlights

  • Provided tax and transfer pricing advice to NapCloud, a leading US entity engaged in information technology, software development and programming services.
  • Advised Equisoft, a leading North American company, in a matter concerning the tax and regulatory issues around employee equity incentive plans.
  • Provided Indian law and tax advisory services to Govecs Group, Germany, regarding its proposed activities in India.

India > TMT Tier 2

Majmudar & Partners regularly handles transactional and advisory mandates for major clients from the worlds of fintech, telecoms, e-commerce, IT, AI, cloud computing, and semiconductors. The triple-qualified (in India, England and Wales, and California) Akil Hirani is highly experienced in the areas of tech M&A, IT regulation, and strategic IP. Neerav Merchant is an equally seasoned tech sector practitioner, with niche expertise in data privacy and trademark law. South Indian lead N. Raja Sujith is recommended for his knowledge of corporate transactions and outsourcing.


‘Exceptionally knowledgeable, very diligent, with a deep understanding of the subject.’

Key clients

Finicity Corporation

Betterworks Inc.

Empaxis Data Management

Abbott Laboratories

Naver Z Corp

Charles Schwab, US

Maven Silicon Softech Pvt Ltd.

ChargePoint, Inc.

Gallagher Service Centre LLP

MBB Labs Pvt Ltd.

Work highlights

  • Acted as the Indian legal counsel to Finicity Corporation in its sale to Mastercard.
  • Acted as the Indian legal counsel to Betterworks Inc. in its acquisition of HyphenMark, Inc.
  • Advised Empaxis Data Management on finalising a major IT services contract for its Indian subsidiary.

India > White-collar crime Tier 2

Neerav Merchant leads the anti-corruption and law advisory team at Majmudar & Partners, offering the team’s domestic and international client base his 25 years of experience as a litigator and arbitration expert. The group covers technology, manufacturing, and financial service sectors, with strong investigative expertise in financial misconduct. It works closely with the firm’s Corporate/M&A, and Dispute Resolution teams in highly confidential investigations. The team regularly advises on anti-corruption and anti-bribery compliance, including issues in relation to the US FCPA and the UK Bribery Act.

Practice head(s):

Neerav Merchant

India > Antitrust and competition Tier 3

Majmudar & Partners‘ competition team is led by Rukshad Davar and advises international manufacturing and healthcare sector clients on merger control. The practice assists clients with obtaining approval from the CCI and ensuring domestic operations are compliant.

Practice head(s):

Work highlights

    India > Data protection Tier 3

    Well known for its broad TMT expertise, especially big tech transactions, Majmudar & Partners combines such work with data handling within a range of regulatory systems. In the course of M&A deals, licensing and outsourcing mandates, it assists Silicon Valley and global tech/social media companies on the complex rules around the collection or transfer of personal data. Its expertise also encompasses areas such as AI and advice on data security. Akil Hirani and Neerav Merchant in Mumbai and N. Raja Sujith in Bangalore, lead the practice which is appreciated for its ‘realistic approach’. It is also praised on the client service front for ‘transparent billing’ and attitude to ‘business ethics’.


    Excellent collaboration with the client. Transparent billing. Easy to approach.’

    ‘Realistic approach, good interaction, and business ethics.’

    Key clients

    Charles Schwab US

    ChargePoint, Inc.

    Advanced Micro Devices, Inc.

    Abbott Laboratories

    Gallagher Service Centre LLP


    Maven Silicon Softech Pvt Ltd.

    Work highlights

    • Advised ChargePoint, Inc. a leading US-based electric vehicle infrastructure company based in Campbell, California, in connection with protection of personal data as well as the government’s powers to intercept and monitor information.
    • Advised Gallagher Service Centre LLP on implications of data privacy law on remote working applications which collect employee data.
    • Advised Advanced Micro Devices, Inc. (NASDAQ: AMD), a US-based multinational semiconductor company based in Santa Clara, California, on Indian data protection compliances pertaining to collection of personal data of employees of third-party business partners.

    India > Insurance Tier 3

    The insurance practice at Majmudar & Partners advises on M&A and joint ventures (including joint venture restructuring exercises), associated regulatory guidance, and insurance policy and fraud protection products. Joint practice heads Akil Hirani and Rukshad Davar are the key contacts.

    Practice head(s):


    ‘The team is very competitive with good expertise. The advice is always comprehensive, clear and unambiguous and offered at competitive rates compared to other big law firms. The senior partners and executives of the firm are readily accessible in case of any escalations and re-prioritisations required by us.’

    ‘Akil Hirani has good expertise in the field of insurance.’

    Key clients

    Cigna Corporation

    CPP Assistance Services Private Limited

    Liberty Global Transaction Solutions, USA

    Work highlights

    • Advised Cigna Corporation, one of the largest healthcare insurance and ancillary services providers in the US, on the replacement of TTK Group in its Indian joint venture.
    • Advised CPP Assistance Services Private Limited, a wholly owned subsidiary of CPP Group Plc, on its fraud protection services and group insurance policy.
    • Assisted Liberty Global Transaction Solutions, one of the largest global M&A insurance teams in the industry, with Indian tax matters on a potential M&A insurance deal that Liberty was looking at in India.

    India > Private equity and investment funds Tier 3

    Majmudar & Partners advises venture capital and private equity houses from India and abroad on buyouts, exits and associated regulatory issues. Co-heads Akil Hirani and Rukshad Davar advise on transactions in the life sciences, retail, financial services and manufacturing sectors. The Bangalore desk — which houses co-head N. Raja Sujith — has a growing practice in advising company founders on their fundraising rounds.


    ‘Majmudar & Partners have a very strong knowledge base in corporate law and the ability to focus on each clients needs and advise suitably.’

    ‘The partners are always available and legal issues are handled in a timely manner. Mr. Raja Sujith in their Bangalore office has been our go-to person for all legal matters, specifically in equity and commercial law.’

    ‘I have found the Majmudar team, particularly Akil Hirani, to be particularly responsive to client needs even during trying COVID times when everyone is working remotely.’

    ‘I would especially note Akil Hirani, with whom I have worked the most from the Firm, as someone who is reliable, responsive, and efficient in his legal work.’

    Key clients

    NongHyup Financial Group

    Wynnchurch Capital

    Ridgemont Equity Partners

    Browndove Healthcare Private Limited

    Glowroad Private Limited

    Work highlights

    • Represented NongHyup Financial Group, a leading South Korean financial services provider with a focus on social development, in connection with its minority equity investment through its subsidiary NH Capital Co., Ltd in IFFCO Kisan Finance Limited.
    • Assisted Wynnchurch Capital on its proposed acquisition of a US-based group engaged in manufacture of steel flanges and having subsidiaries in Europe and India.
    • Advised Glowroad on a series B1 Investment by Accel Partners, IND Funds Limited and Vertex Ventures.

    India > Banking and finance Tier 4

    Majmudar & Partners' Mumbai-based practice is headed by Neerav Merchant and 'standout' practitioner A.K. Hirani, while Fraser Alexander is notable for his handling of banking and finance disputes. The team counts Indian banks and other financial institutions among its client roster and is increasingly assisting the NBFC sector with regulatory advice.

    Practice head(s):

    Other key lawyers:


    ‘Majmudar & Partners have an outstanding banking and finance practice. Their international focus gives them the ability to add significant value to international financial institutions with a focus on India.’

    ‘Akil Hirani is a stand out practitioner in the banking and finance sector. His depth of knowledge of the Indian market, combined with his international experience and expertise, enable him to add significant value to clients.’


    Key clients

    Elementis Holdings Limited

    Axis Bank Limited

    Dhanlaxmi Bank Limited

    Public Sector Bank

    Punjab National Bank

    Work highlights

    • Assisted Elementis Holdings Limited in preparing and filing the Annual Return on Foreign Liabilities and Assets.
    • Advising and representing Axis Bank Ltd. in execution proceedings filed before the Hon’ble Bombay High Court against the Owner of premises, seeking enforcement of the decree for refund of security deposit.
    • Acting for Dhanlaxmi Bank Limited in a banking claim made against the defaulting borrower and its guarantors (including third party mortgagor).

    Intellectual property Tier 4

    Majmudar & Partners provides trade mark and patent filing and prosecution services including oppositions and renewal matters. It undertakes some infringement work and on the transactional front assists clients with areas such as assignments and licences. The team is headed by N. Raja Sujith and Neerav Merchant.

    Practice head(s):

    Key clients

    Technicolor Trademark Management

    University of Illinois (USA)

    H&R Block (India) Pvt. Ltd.

    Foodcare Sp. Z o.o.

    Valagro S.p.A

    Work highlights

    • Assisted Technicolor Trademark Management in trademark renewal and change of proprietor address of Technicolor Trademark Management.
    • Assisted University of Illinois (USA) in filing of a patent in India.
    • Provided legal advice and assisted Foodcare Sp. Z o.o. in issuing a cease and desist legal notice on a Delhi-based distributor, seeking to refrain them from passing-off their product under an unregistered trademark.

    India > Projects and energy Tier 1

    Majmudar & Partners, which is based in Mumbai, advises on the contracts relating to construction projects and project financing in sectors including oil and gas.

    Majmudar & Partners (formerly Majmudar & Co.), established in 1943, has evolved into one of India’s premier law firms representing the who’s who of banks, companies, and financial institutions. Inbound investments into India, corporate/M&A, restructuring, competition, securities, banking and corporate finance, private equity and venture capital, fund structuring, tax, technology, media and telecommunications, employment, projects, infrastructure and energy, biotechnology, outsourcing, IP, distribution, real property and disputes are the main practice areas of the firm. We are one of the few Indian law firms to have created an industry focus. We specialize in the following industries: (i) financial services and insurance; (ii) pharmaceuticals and life sciences; (iii) technology; (iv) manufacturing and industrial; and (v) consumer and retail. This coupled with senior partner led delivery and extreme responsiveness has made us a sought after firm for clients who need high quality and high value services in tight time frames.

    Majmudar & Partners has offices in Mumbai, Bangalore and New York, and integrated network offices in Chennai, Hyderabad and New Delhi. It services clients nationally and internationally.

    Majmudar & Partners’ national team of close to one hundred (100) lawyers provides high-quality and seamless legal services. Most of our lawyers have international work experience and have been recognized as leaders in their field. We are structured on the lines of an international law firm, where each lawyer is on a partnership track. The best-known personalities of the firm are its managing partner, Mr Akil Hirani; senior advisor and partner, Mr AK Hirani; partner, Mr Rukshad Davar; partner, Mr Neerav Merchant; partner, Mr Amrit Mehta; associate partner, Ms Kritika Agarwal; of counsel, Mr Fraser Alexander; tax counsel, Mr Ravishankar Raghavan; and Bangalore office partner, Mr N Raja Sujith.

    Mr Akil Hirani, who has been in practice for more than twenty-five (25) years, is admitted in India, England & Wales and California (currently inactive), and oversees the firm’s transactional, regulatory, and finance practice groups. Mr AK Hirani, who has been in practice for over forty (40) years, is a specialist in banking and real property law. Mr Rukshad Davar is a leading corporate/M&A partner with international deal experience at Jones Day’s former Indian affiliate and heads the M&A practice group at the firm. Mr Neerav Merchant is a highly recommended company/commercial and dispute resolution lawyer. Mr Amrit Mehta has expertise in corporate/M&A, private equity, contract and employment law. Ms Kritika Agarwal specializes in corporate/M&A and competition law. Mr Fraser Alexander is a senior banking and commercial litigation lawyer. Mr Ravishankar Raghavan is the counsel of the tax and private client practice. Mr N Raja Sujith is a foreign investment, corporate, technology and employment law specialist, and heads the Bangalore office.

    Disputes and Real Property A. K.
    Transactions and Corporate/M&A Akil
    Litigation and Arbitration Neerav
    Corporate/M&A and Competition Rukshad
    Corporate/M&A and Employment N. Raja
    Dispute Resolution and Arbitration Fraser
    Taxation Ravi S.
    Corporate/M&A Amrit
    Corporate/M&A and Competition Kritika
    Ms Kritika Agarwal photo Ms Kritika AgarwalAssociate Partner
    Mr Fraser Alexander photo Mr Fraser AlexanderOf Counsel
    Mr Rukshad Davar photo Mr Rukshad DavarPartner and Head of M&A Practice Group  
    Mr A.K. Hirani photo Mr A.K. HiraniSenior Partner
    Mr Akil Hirani photo Mr Akil HiraniHead of Transactions Practice and Managing Partner
    Mr Amrit Mehta photo Mr Amrit MehtaPartner
    Mr Neerav Merchant photo Mr Neerav MerchantPartner
    Mr Raja Sujith Niruthambath photo Mr Raja Sujith NiruthambathPartner and Head of South India
    Mr Ravi S. Raghavan photo Mr Ravi S. RaghavanPartner – Tax and Private Client Group
    IBA (International Bar Association)
    American Bar Association
    State Bar of California

    1. Majmudar & Partners acted as Indian legal co-counsel to Finicity Corporation, a leading North American provider of real-time access to financial data and insights, on its sale to Mastercard (NYSE: MA) for a purchase price of US$825 million.

    The matter was led by managing partner, Akil Hirani, who is a senior corporate lawyer in India, and admitted to the bar in California and England as well.

    India’s company law, tax law, foreign exchange and other regulations threw-up many impediments, which the Majmudar team navigated successfully and in a timely manner to ensure a seamless execution of the deal. This was one of the largest fintech deals of 2020 and was completed when India was in a full lockdown. A big achievement in tight timelines.

    2. Majmudar & Partners acted as Indian legal counsel to Cryoport, Inc. (NASDAQ: CYRX) on its acquisition of CRYOPDP Group, a leading global provider of innovative temperature-controlled logistics solutions to the clinical research, pharmaceutical and cell and gene therapy markets. The purchase price was approximately EUR49 million.

    The matter was led by managing partner, Akil Hirani.

    This is a very important life sciences logistics transaction, and leapfrogs NASDAQ listed Cryoport, Inc. into the top echelons of life science logistics companies. Our assistance in finding solutions to some legacy regulatory issues and deft handling of complex transaction documents was the key highlight.

    3. Majmudar & Partners assisted Chart Industries Inc. (Nasdaq: GTLS), a leading manufacturer of highly engineered cryogenic equipment used in the liquid gas supply chain, on acquisition of employees of Harsco Services India Private Limited and on setting-up its information technology enabled services/ data centre in India.

    The matter was led by partner and Head of Corporate/M&A, Rukshad Davar.

    This transaction was a part of Chart’s global acquisition of the industrial Air-X-Changers business of Harsco
    Corporation (NYSE: HSC), valued at US$592 million, which has made it an important transaction.

    4. Majmudar & Partners is advising Rabigh Refining & Petrochemical Company, a leading Saudi Arabian petrochemicals refiner, against a breach of contract by a UAE entity, who has an Indian Entity, against which enforcement is being sought.

    The litigation is being led by disputes partner, Neerav Merchant.

    This matter is challenging, complex and tricky, as there is not much evidence available to support the client’s claim against the Indian Entity, or which can help establish a nexus between the Indian Entity and the UAE Entity. This matter has required some original thinking to find a viable solution for Petro Rabigh.

    5. Advised DUS Operating, Inc., an entity funded by Bardin Hill Investment Partners LP and the Charlton Group, in the closing of the acquisition of the Indian subsidiaries of Dura Automotive Systems, LLC, as a part of a global asset purchase through a bankruptcy proceeding in the US for US$84 million.

    The matter was led by partner, Amrit Mehta.

    This was an important, high value purchase transaction of global assets of the sellers pursuant to completion of a complex bankruptcy process in the US. This raised many Indian company law, tax law, and other regulatory issues, which could have derailed the transaction without our deft handling.

    6. Majmudar & Partners (M&P) has acted for Thrasio Holdings, Inc. (Thrasio), a next generation, global consumer goods company, in a complex, high value acquisition of a significant majority stake in Lifelong Online Retail Private Limited (Lifelong), a leading Indian online consumer brand backed by Tanglin Venture Partners and the Hero Group. M&P assisted Thrasio on deal structuring, legal due diligence, document drafting, and negotiations with the exiting shareholders and other counterparties. The deal was run by Managing Partner, Akil Hirani, with able support from corporate partner, Amrit Mehta, tax partner, Ravi S. Raghavan, senior associate, Sinjini Majumdar, and associates, Swati Agrawal, Prerna Seerwani and Geetha Sajeev. Cooley LLP advised Thrasio Holdings, Inc. on the US law aspects of the acquisition.

    With this acquisition, Thrasio has made its entry into the Indian market and plans to invest approx. US$500 million in the future to acquire digital-first brands in India.

    Rajaram Legal acted for Lifelong and its founders. Khaitan & Co. acted for Tanglin Venture Partners and AZB & Partners acted for the Hero Group.

    7. Majmudar & Partners acts as Indian legal counsel to Five Elms Capital Management, LLC on its acquisition of minority stake in Vajro, Inc.

    Five Elms Capital Management, LLC, a leading global growth equity firm that invests in fast-growing B2B software businesses, has participated in the Series A funding round of Vajro, Inc. for US$8.5 million.  Vajro, Inc., is one of the fastest growing mobile app builders for the ecommerce sector.  Majmudar & Partners advised Five Elms on the Indian law aspects of this deal.  The team from Majmudar & Partners comprised of Partner and Head of the M&A Practice, Rukshad Davar, Associate Partner, Kritika Agarwal, Associate, Rahul Datta and Associate, Ayushi Bansal.  Husch Blackwell advised Five Elms on US law aspects.

    8. Majmudar & Partners acts as Indian legal counsel to N. Harris Computer Corporation on its acquisition of Allscripts Healthcare Solutions’ (NASDAQ:MDRX) hospitals and large physician practices business

    N. Harris Computer Corporation, a wholly-owned subsidiary of Constellation Software, Inc. (TSX:CSU), has signed an agreement with Allscripts Healthcare Solutions (NASDAQ:MDRX) to purchase Allscript’s hospitals and large physician practices business. The deal is valued at US$700 million, including a continent performance-linked price of up to US$30 million.

    Majmudar & Partners advised on the Indian law aspects of this deal, including corporate, foreign exchange, antitrust, intellectual property and tax, and assisted in finalizing the transaction documents. The team from Majmudar & Partners comprised of Akil Hirani (Managing Partner and Head of Transactions), Kritika Agarwal (Associate Partner) and Rahul Datta (Associate). Ravishankar Raghavan (Partner) assisted on Indian tax aspects.

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