AZB & Partners > Mumbai, India > Firm Profile

AZB & Partners > The Legal 500 Rankings

India > Antitrust and competition Tier 1

With bench strength in Mumbai, Delhi and Bangalore, AZB & Partners acts for a roster of prominent clients, such as Google, Uber and Mercedes, in high-profile, cross-border competition matters, with merger control and enforcement work prominent in the group’s workload. The team is led by the trio of Bharat Budholia, who has an impressive track record in handling merger control mandates; Hemangini Dadwal, ‘a thorough and very prompt professional‘; and Ram Kumar Poornachandran, who acts for Indian and international clients in the digital, healthcare, energy and consumer goods sectors. Gaurav Bansal is noted for his strength in handling merger filings, often for clients in the automotive, aviation and telecoms sectors. Samir Gandhi and Nikita Agarwal are key names to note.

India > Aviation (including aerospace and defence) Tier 1

AZB & Partners‘ ‘formidable’ aviation team has significant expertise acting for lessors, financiers, airlines, manufacturers, and airports on the full range of aviation-related matters. Anand Shah leads the practice and is a seasoned aviation expert, handling multi-jurisdictional regulatory civil aviation matters, aircraft finance, and aircraft deregistrations and repossessions; he is supported by senior associate Rishiraj Baruah. The firm strengthened its transactional offering with the 2022 arrival of Haseena Tapia Shahpurwalla, formerly at Gagrats. Shahpurwalla is dual-qualified in England & Wales and has significant experience advising airlines on aircraft and engine lease transactions. Another new addition to the team is Sarah Rufus, who joined from an in-house position at an airline in 2023. All lawyers mentioned are based in Mumbai.

India > Banking and finance Tier 1

With a client roster comprising many leading domestic and international banks, AZB & Partners’ cross-border experience is an asset to clients with both transactional and regulatory banking mandates. The team is led by the duo of infrastructure and project finance specialist Bahram Vakil and Anand Shah, who regularly handles domestic and cross-border debt transactions. Hufriz Wadia is known for her expertise in the social and sustainable financing space, while Nikunj Maheshwari regularly advises banks, financial institutions and overseas funds on debt transactions. Other key members of the team include Hardeep Sachdeva, Ishan Handa and Karthik Mudaliar.

India > Capital markets Tier 1

AZB & Partners has notable pan-India capital markets expertise, handling the full range of matters, including public offerings, qualified institution placements and rights issuances, and is active in banking, private equity, fintech and retail ventures. The team is led by Mumbai-based Varoon Chandra, who has extensive experience in assisting clients with domestic and cross-border capital markets transactions, while Lionel D’Almeida leads on securitisations. Bangalore-based Srinath Dasari‘s ambit of work includes institutional placements and securities buy-back transactions, and Agnik Bhattacharyya frequently acts for issuers and investment banks from New Delhi. The other key members at the junior end include Sweta Ananthanarayanan and Rahul Aggarwal.

India > Corporate and M&A Tier 1

Combining extensive expertise in M&A, joint venture, and general corporate transactions, the AZB & Partners team is highly praised for its domestic and international capabilities. The practice has vast experience of representing clients from across the technology, pharma, and finance industries, and consistently demonstrates market-leading knowledge on securities law and data privacy issues within M&A. The managing partners, Ajay Bahl and Zia Mody, specialise in restructurings and private equity investment work, with the former based in Delhi, and the latter in Mumbai. Delhi-based Anil Kasturi focuses on demergers and public takeovers, whilst in Mumbai, Ashwath Rau and Kritika Agarwal routinely provide financial regulatory advice and both Nandish Vyas and Darshika Kothari assist with PE investment issues.

India > Dispute resolution: arbitration Tier 1

The ‘formidable’ and market-leading dispute resolution team at AZB & Partners regularly handles high-stakes domestic and international arbitrations, advising clients at every stage of a dispute, from forensic analysis to settlement negotiations. Acting for a stellar roster of clients that includes blue-chip tech companies, financial institutions, and domestic corporations, the team has extensive expertise representing clients across a broad range of sectors. The team is jointly led by Rajendra Barot, Vijayendra Singh, and Aditya Vikram Bhat. Barot, based in Mumbai, regularly represents clients across all levels of courts and tribunals, while Delhi’s Singh has deep experience handling international and domestic arbitrations. Bhat, in Bengaluru, has a strong focus on cross-border arbitrations. Roopali Singh and Sonali Mathur left the practice in April 2023.

India > Dispute resolution: litigation Tier 1

The ‘first-class‘ dispute resolution team at AZB & Partners leverages the firm’s broader capabilities across practice areas to provide a holistic offering spanning civil, criminal, commercial, and constitutional disputes across all levels of the judicial system. Counting multinational blue-chip technology companies, large financial institutions, as well as domestic and international corporate heavyweights among its clients, the ‘formidable’ team stands out for its strong track record advising on corporate disputes. Senior partners Rajendra Barot, Vijayendra Pratap Singh, and Aditya Vikram Bhat now jointly lead the team; Barot is based in Mumbai, while Singh and Bhat operate from Delhi and Bengaluru, respectively. Other key names include ‘pillars of strength’ Abhijnan Jha, Aditya Jalan, and Anindita Roychowdhury, all in Delhi. Sonali Mathur and Roopali Singh left the firm in April 2023.

India > Private client Tier 1

International private client work is a core area of expertise for AZB & Partners. The team has a particular focus handling matters involving Indian-origin individuals living in the UK, USA and Singapore; Bangalore-based practitioner Shreya Rao has a particular specialism in such work. In Mumbai, Anand Shah is a regular advisor to high-net-worth individuals on matters of intergenerational wealth transfer, family governance, and estate and succession planning. Mumbai-based co-founder of the firm and managing partner Zia Mody also specialises in estate and succession planning matters, as well as family disputes work. In New Delhi, fellow co-founders and managing partners Ajay Bahl  and Hardeep Sachdeva come highly recommended.

India > Private equity and investment funds Tier 1

AZB & Partners offers a ‘thoroughly professional’ service in its diverse representation of private equity investors across various sectors. The firm’s advisory scope encompasses regulatory protocols, exit strategies and negotiation processes. Ashwath Rau brings experience in private equity and investment funds, supported by Zia Mody’s specialisation in acquisitions, joint ventures, restructurings and inward investments. Darshika Kothari specialises in private equity investments, extending her expertise to marquee private equity clients, as well as domestic and international corporations and financial institutions, while Anil Kasturi’s ability to ‘think outside the box’ complements his capability in the private equity arena, engaging with a wide spectrum of sectors including healthcare, telecom, education and real estate.

India > Projects and energy Tier 1

The practice at AZB & Partners is routinely instructed in high-profile infrastructure projects involving the renewable energy, oil and gas, and mining sectors. The team has extensive experience in the project finance sphere, and advises domestic and international companies on all aspects of regulatory and compliance matters and EPC and O&M contracts. In Mumbai, firm founding partner Bahram Vakil is well versed in advising on foreign direct investment, while Qais Jamal handles M&A and joint ventures within the projects and energy field. New Delhi-based Anuja Tiwari specialises in renewable energy project matters, and Atreya Bhattacharya focuses on private equity and structured finance transactions. Mallika Anand, who made partner in April 2023, is a key name for project development work. Aditya Periwal is also recommended.

India > Real estate and construction Tier 1

With footholds in four key cities (Delhi, Mumbai, Pune, and Bangalore), AZB & Partners houses a distinguished real estate and construction practice, assisting clients across regions in all phases and aspects of real estate development, such as financing, acquisition, investment, disposition matters, and restructuring real estate-related debts. Head of practice and senior partner in the New Delhi office Hardeep Sachdeva brings his in-depth real estate knowledge together with a vast experience in private equity, structured financing, and tax structuring, while Nohid Nooreyezdan heads the practice from Mumbai, drawing on his experience in acquisitions and transfers of immovable land, drafting and negotiating transactional documents, conducting due diligence and applicable local levies. Monika Bhonsale’s expertise ranges from real estate acquisition and sale of immovable properties to joint venture matters, development transactions, and complex land diligence.

India > Restructuring and insolvency Tier 1

Co-founder Bahram Vakil leads the team at AZB & Partners, which represents a broad range of stakeholders and has in-depth experience handling complex refinancings, foreign investments into stressed assets, and acquisitions of distressed companies. Senior figure Nilang Desai regularly advises banks, IBC resolution applicants, and creditor committees. Senior associate Saloni Thakkar has worked on some of the firm’s most prominent cases and remains an increasingly active team member. Avinash Subramanian in the Mumbai office and Anindita Roy Chowdhury in the Delhi office are also recommended.

India > Tax Tier 1

Praised for being ‘very commercial and easy to work with‘ the tax practice at AZB & Partners assists its clients with tax advisory, litigation, corporate tax planning and international tax matters. The firm has a particularly strong market presence in tax litigation and is regularly tasked with matters before the ITAT, the High Courts and Supreme Court. The team is co-led by Ajay Bahl, Deepak Chopra and Suresh Varanasi. Bahl is well regarded for his expertise in transfer pricing issues, while Chopra is a key name for tax disputes and Varanasi is the contact for indirect tax matters. Shreya Rao is the main contact for the Bangalore office. Aditya Singh Chandel, Abhinav Ashwin and Harpreet Singh Ajmani are also key partners to note. Since publication, the team welcomed Shruti KP in its Mumbai office.

India > TMT Tier 1

Counting private equity firms, international conglomerates, and financial institutions among its key clients, AZB & Partners is highly regarded for handling major transactions and regulatory compliance matters. The team displays a strong offering in the fintech and NFT sphere, regularly advising clients on all aspects of data protection, intellectual property, and licensing issues. Operating out of Delhi, co-heads Anil Kasturi and Rachit Bahl are specialists in managing M&A within the TMT sector, whilst Rohan Bagai and Sumit Ghoshal are experts on e-commerce and privacy policy affairs. In Bengaluru, co-head Srinath Dasari regularly assists companies with information tech matters, and the other co-head, Mumbai-based Roxanne Anderson, has deep experience in representing media and sport corporations.

India > White-collar crime Tier 1

AZB & Partners is noted for its end-to-end capabilities in a wide variety of white-collar cases, representing clients in internal investigations, regulatory actions, and full trials in allegations of bribery, money laundering, and corporate malfeasance. The team offers cross-border expertise, advising on actions taken by the US DOJ and UK agencies relating to the FCPA and POCA, among others, and is able to provide in-house corporate and employment support to major corporates across various industries. Key names in the practice include Vijayendra Singh, who has great experience in fraud and asset tracing, criminal investigations, and governance issues, forensic investigations specialist Soumit Nikhra in Mumbai, and litigator Rajendra Barot, who has represented a number of major clients before state and federal courts. Joining the firm from an in-house position in September 2022, Mumbai-based Ajay Upadhyay heads up the firm’s internal investigation and compliance team. Bengaluru-based Aditya Vikram Bhat is also noted for his expertise in agency investigations brought by the SFIO, ED, and CBI, among others.

India > Fintech and financial services regulatory Tier 2

Transactional work in the fintech space and regulatory advisory services, including around payments issues are core pillars of AZB & Partners‘ fintech and digital practice. The team, praised for ‘understanding the entire life cycle of an issue’, has corporate expertise spanning capital raisings, joint ventures and big-ticket M&A. On the regulatory front, the team is active on mandates such as representations before Indian regulators and internal investigations. Ashwath Rau drives the team’s offering and has a strong track record in handling the regulatory aspects of major M&A involving financial institutions. G. Padmanabhan‘s expertise extends to payments work; he is frequently mandated by major players in the space to advise on the regulatory landscape in India. Vipul Jain is geared to handle entry strategy, licensing and compliance work for clients such as banks and offshore private equity firms.

India > Insurance Tier 2

A team of four partners based in Mumbai and New Delhi anchor the insurance practice at AZB & Partners: Rajendra Barot, an adviser to leading names from the life, non-life and health insurance sectors on their entry into the Indian market through joint ventures or a stake acquisition in existing insurance companies; Anil Kasturi, who assists with complex insurance-related transactions; Niladri Maulik, an expert in high-value investments with experience working across the healthcare, insurance, financial services and energy sectors; and Kashish Bhatia, whose workload often includes bancassurance, broker and group insurance policies arrangements. Arvind Ramesh left to join Vritti Partners in January 2023.

Intellectual property Tier 2

With offices located in Mumbai, New Delhi and Gurugram, AZB & Partners‘ strength in IP ranges from creation and protection to monetisation and litigation. Akhilesh Kumar Rai – a senior partner in the New Delhi office – co-heads the practice with registered patent agent Nandan Pendsey in Mumbai; both are a regular port of call for domestic and international clients, drawing on their combined expertise in IP litigation, transactions and portfolio management. Pendsey is an experienced representative before various tribunals, the high courts and the Supreme Court. At the senior associate level, the Gurugram-based Sugandha Bhatia specialises in Uniform Domain-Name Dispute-Resolution Policy (UDRP) and National Internet Exchange of India (NIXI) matters, while the Mumbai-based duo Rashmee Kumar and Sudeshna Panigrahi can regularly be seen advising on trademark prosecution and enforcement.

India > Labour and employment Tier 2

The ‘very diligent’ labour and employment team at AZB & Partners leverages the firm’s strength in litigation, corporate, and tax to provide a comprehensive offering across the full-range of matters. In Mumbai, Nohid Nooreyezdan advises on workforce restructurings, employee benefits and stock option plans, while New Delhi’s Sunila Awasthi and Rachit Bahl are recommended for their expertise in internal investigations and severance programs, respectively; the three jointly head the practice. The ‘highly innovative’ Jatinder Singh Saluja is another key member of the Delhi team. In April 2023, the Mumbai practice was strengthened with the arrival of Ajay Singh Solanki, previously at Nishith Desai Associates; Solanki is a specialist whose practice has a particular emphasis on enforcing restrictive covenants, sensitive confidentiality and IP matters, and anti-discrimination law work. Former co-head Veena Gopalakrishnan left the practice in December 2022 and is now at Trilegal.

India > Life sciences and healthcare Tier 2

AZB & Partners advises hospitals, pharma companies, private equity investors, and a range of other clients on transactions, regulatory issues, and intellectual property matters across the pharma, medical device and diagnostic industries. The team is particularly involved in innovative regulatory issues relating to medical devices, digital health, and drug classifications, as well as handling cross-border M&A and private equity deals. Nandan Pendsey co-leads the team, and has strong intellectual property and regulatory expertise, notably advising on product licensing and exports, while fellow co-head Anand Shah is heavily focused on transactional work, particularly in the e-pharmacy space, working with established and growth companies. Darshika Kothari is also active in transactions, working with global PE investors such as Advent International on their investments in India.

India > Data protection Tier 4

AZB & Partners' multidisciplinary data protection offering has considerable expertise in healthcare, IT, e-commerce, and emerging technologies, and handles both advisory, transactional, and compliance mandates both domestically and across borders. Key members of the team include Mumbai-based IP and IT specialist Nandan Pendsey, recommended for his regulatory expertise, as well as Rachit Bahl and Rohan Bagai, both in Delhi; Bahl advises multinational corporations on the data privacy and protection aspects of e-commerce, online healthcare, and surveillance issues, while Bagai has a special focus on payments and emerging technologies, routinely acting for fintech businesses.