IndusLaw > New Delhi, India > Firm Profile
2ND FLOOR, BLOCK D, THE MIRA
MATHURA ROAD, ISHWAR NAGAR
NEW DELHI 110 065
IndusLaw > The Legal 500 Rankings
India > Capital markets Tier 1IndusLaw‘s practice remains a market leader for big-ticket transactions, particularly industry-first tech IPOs, including advising on the IPO of online food delivery unicorn Zomato. In Mumbai, practice head Manan Lahoty is active in the domestic and international capital markets scene and focuses on assisting with public offerings and advising on securities law for major investment banks and corporate clients. Manshoor Nazki is a key contact for equity and debt offerings. Delhi-based Vishal Yaduvanshi is experienced in handling equity capital markets matters for underwriters and issuers. The team is backed by a strong group of experienced associates, including Priyadarshini Rao in the Mumbai office, who advises on SEBI and ESOP regulations.
Hindustan Petroleum Corporation
Macrotech Developers Limited
Clean Science and Technology Limited
Seven Islands Shipping
- Acted as Indian counsel to the lead managers on the further public offering of YES Bank Limited.
- Acted as Indian counsel to the lead managers on the IPO of online food delivery company Zomato.
- Acted as Indian counsel to Glocal in relation to its acquisition by Uphealth Holdings Inc.
India > Corporate and M&A Tier 1IndusLaw fields an extensive corporate bench of M&A experts across all major corporate arenas. Gaurav Dani maintains strong relationships with acquisitive US corporates and Kartik Ganapathy, Manish Gupta and Avimukt Darr among others execute similarly impressive acquisitions for both domestic and international clients. Of the numerous new partner additions throughout 2020/21, Rashi Saraf (rejoining after a stint at Cyril Amarchand Mangaldas) enhanced the team’s venture capital and private equity bench strength across sectors including healthcare, education, real estate and IT. In addition to a spate of technology-sector deals, Bangalore-based Anindya Ghosh closed an impressive cross-border acquisition for a fitness company as part of a major global expansion project.
Other key lawyers:
‘The team provides unique solutions to complex problems.’
‘Great depth of knowledge and diversity.’
‘Saurav Kumar is intelligent, innovative and a great listener. He improvises on the fly and has a natural ability to close deals, solve problems, understand the need and requirement of the client as well as buyer/ seller.’
‘Good industry knowledge prompt and responsive – engages well to understand client requirements fpr practical solutions.’
Juniten Pte. Ltd.
Elara Technologies Pte. Ltd. (“Elara”)
Sorting Hat Technologies Private Limited (“Unacademy”)
India Alternatives Private Equity Fund
Vitalic Health Private Limited (“Netmeds”)
Acacia Banyan Partners
Talentsprint Private Limited
Curefit Healthcare Private Limited (“Cure.fit”)
Urban Ladder Home Décor Solutions Private Limited
Nova Capital, Exchanger Industries
Brainbees Solutions Private Limited (“FirstCry”)
ValueFirst Digital Media Pvt. Ltd.
Isuzu Motors Limited
Sentosa Ship Brokers Pte. Ltd.
M3bi India, a wholly-owned subsidiary of M3BI, LLC
American Cybersystems Inc.
- Acted for Juniten on its joint venture with Hyundai for manufacturing (i) lithium-ion batteries, power-trains, battery management systems for electric vehicles; (ii) electric vehicles such as e-cars, e-buses, e-scooters; and (iii) energy storage systems for household and commercial applications.
- Advised on MaxLinear’s acquisition of Intel’s Home Gateway Platform Division assets in an all-cash, asset transaction valued at $150m.
- Advised Elara in relation to its acquisition by REA.
India > Data protection Tier 1A dedicated team at IndusLaw is in demand for advice not only relating to Indian data protection laws but is also well versed on many of the international regimes including those of the EU and California. It is therefore well placed to advise on cross-border data processing and transfers. Its client base is made up of domestic and global corporations and clients are referred to the team by well known, global law firms. It also participates in government legislation proposals; it has been involved in the consultation processes for the Personal Data Protection Bill. Based in Delhi and Bengaluru, Avimukt Darr, Srinivas Katta, Suneeth Katarki, Namita Viswanath and Shreya Suri lead the practice. In addition to data transfers, data sharing and privacy matters, it assists clients on security breaches, blockchain technology and a range of disputes. Its clients include those in financial services, health care and logistics and telecoms.
Avimukt Darr; Srinivas Katta; Suneeth Katarki; Namita Viswanath; Shreya Suri
‘They are responsive and knowledgeable, Kartik Ganapathy has provided some invaluable help for our clients in India.’
Innovative Retail Concepts Private Limited
Swasth Digital Health Foundation
- Advised Airmeet on compliance with EU-GDPR and CCPA in the context of a globally accessible platform for virtual summits
- Advised Moody’s on data privacy regulations in India in the context of undertaking business in the country.
- Advised Innovative Retail Technologies Private Limited (BigBasket) on dealing with a data security incident, including regulatory compliance, reporting obligations and revising data security policies.
At IndusLaw, the employment practice group benefits from a seasoned bench able to assist with the full range of contentious and non-contentious matters. Team head Avik Biswas is ‘energetic, bold and gives very practical advice to navigate complex issues‘ when drafting HR policies and assessing internal regulatory compliance; strong support comes from Sowmya Kumar – who made partner in April 2021 – on global reductions-in-force following the Covid-19 pandemic and new labour code transitions, as well as senior associate Ivana Chatterjee. Recent disputes pertain to wrongful termination allegations and unionised workforces, often handled by litigators Padmaja Kaul and Shabbeer Ahmed, while POSH and misconduct matters, workforce restructurings and M&A due diligence are other focus areas. Vaibhav Bhardwaj recently arrived from Shardul Amarchand Mangaldas & Co, while Manishi Pathak departed for Anhad Law in spring 2021.
Other key lawyers:
‘Avik Biswas is energetic, bold and gives very practical advice to navigate complex employment law issues. He helps to facilitate the growth of the business.’
‘Avik Biswas is a stand-out Indian employment lawyer due to his mix of practicality, market connections and responsiveness.’
‘The team provides pragmatic, business-relevant advice.’
‘Avik Biswas is particularly noteworthy as his in-house experience allows him to understand the need for risk assessment and gives him insight as to the challenges of in-house lawyer clients.’
‘Avik Biswas offers sound, practical, commercially strong advice.’
Coca Cola India
Metro Cash & Carry
- Advised Zomato on its global workforce restructuring and compensation re-evaluation exercise after the onset of the Covid-19 pandemic.
- Assisted Worley in navigating crucial questions involving the permissibility of wage reductions, leave without pay and extension of work hours for its workforce, the feasibility of a reduction in force (RIF) for a certain portion of the workforce and the termination of services of contract labour.
- Developed multiple online training modules for different categories of employees at NEC and also conducted different training sessions for all its employees in India.
‘Solution-oriented and to the point advice. ’
‘He has a knack of exactly understanding the clients needs and acts accordingly’
‘Good understanding of the commercials involved in a transaction and partner availability are standout points. ’
‘The team has an appreciable understanding of private equity and venture capital market and how deal terms have evolved. Very seldom we see lawyers adopting such practical approach to deals, as Manish and his team at IndusLaw do.’
‘Manish Gupta and his team are very thorough in their work and very approachable. Their commitment has always impressed me.’
‘We are a startup and were looking for a startup-oriented legal partner for our seed funding round. Induslaw exceeded expectations in this regard. They know inside out how startup funding works. They recommended and took stances on our behalf that turned out to be beneficial for us. They also kept the whole process very structured. ’
SAIF Partners (now known as Elevation Partners)
Hella Infra Market Private Limited
Aye Finance Private Limited
Dunzo Digital Private Limited
Nexus Venture Partners
Juspay Technologies Private Limited
Jubilant Foodworks Limited
Easyplan Technology Solutions Private Limited, Easyplan Technologies Inc
India Equity Partners
- Advised Zomato on late-stage fundraisings from some of the largest and most reputed PE investors in the world.
- Advised Mohalla Tech, the parent company behind India’s leading short video app Moj on its $502m latest funding round.
- Advised Accel in relation to its funding into Swiggy.
India > TMT Tier 1With offices nationwide, IndusLaw‘s TMT practice is well situated to advise on complex, technical matters for a broad roster of high-profile domestic entities and multinational corporations. Delhi-based Avimukt Darr boasts a wide-reaching corporate and commercial practice, with recent highlights including regulatory analyses and multi-jurisdictional online listing agreements. Also in Delhi, newly promoted partner Shreya Suri is a key contact for clients operating in the fintech, cryptocurrency, and cybersecurity spaces. In Bangalore, Namita Viswanath is recommended for her extensive IT and telecoms experience, while Suneeth Katarki regularly advises on data privacy, fintech, and consumer tech regulations. Seasoned adviser Srinivas Katta is recommended for his expertise in the start-up arena.
‘The media law capability and the tech know-how of Indus Law is exceptional.’
Swasth Digital Health Foundation
Oyo Hotels and Homes Private Limited
The Viral Fever
- Assisted Unacademy with the vetting of agreements to enable educators to upload and share educational content on its online education platform.
- Advised Macmillan on legal and regulatory analyses of plans to expand its business activities to the B2C market via e-commerce initiatives.
- Advising Altisource on the terms and conditions governing OSP registration and various other compliance matters.
India > Banking and finance Tier 2IndusLaw takes on impressive work in the energy and renewables sector, most recently with regard to sponsor-side debt restructuring mandates and high-value project financing arrangements. Lender-side transactions in the energy and industrial sectors are also present on the deal list, with the team advising domestic and international banks and NBFCs. Also handled are structured finance transactions involving substantial regulatory considerations.
‘They are a youthful and energetic practice with systems comparable to those of western firms. They are quick to respond and react to instructions and situations and are thorough and competent with the work and advice produced.’
IndusInd Bank Limited
Engie Solar SAS, Electro Solaire Private Limited
Silver Point Capital, L.P.
Yes Bank Limited
ECL Finance Limited (Edelweiss)
IDBI Bank Limited
Axis Bank Limited
BlackSoil Capital Private Limited
RBL Bank Limited
State Bank of India
Bank of Baroda
Bank of India
Mahindra Finance Limited
Tata Capital Financial Services Limited
PHL Fininvest Private Limited
Visage Holdings and Finance Private Limited
ICICI Bank UK PLC, London
India Equity Partners
- Advised Engie on project financing for an amount of $100m availed from the Asian Development Bank and Société Générale for setting up a 2x 100MW AC grid-connected solar PV project in Raghanesda Solar Park, Gujarat.
- Acted for Future Group on the $3bn debt restructuring of Future Retail Limited, Future Enterprises Limited, Future Lifestyle Fashions Limited, Future Consumer Limited, Future Supply Chain Solutions Limited, and other unlisted companies for all outstanding debt owed to 28 Indian banks-consortium under the resolution framework for Covid-19-related stress announced by the Reserve Bank of India.
- Advised on IndusInd Bank Limited’s foreign currency term loan of $35m (through its International Business Unit, GIFT city, Gujarat, India) to Solar Overseas Mauritius Limited, a company incorporated under the laws of Mauritius towards onward lending for its identified group companies.
‘The team supported me as a true partner. They had a solution-oriented approach towards the litigation and helped us throughout the course of litigation to achieve the desired outcome.’
‘Excellent team. The IndusLaw team understands the client’s commercial objectives in litigation matters and provides timely and practical solutions.’
‘Amit Jajoo and Sushmita Gandhi are excellent lawyers and have extensive cross-border dispute settlement experience. They are highly responsive. Sushmita Gandhi is extremely helpful to foreign clients in matters involving the courts in India. ’
‘The biggest strength of the team is the personal attention given to clients, patiently answering queries in detail and assuaging concerns to the client’s satisfaction. All the tech and innovation in the world cannot replace personal attention. In comparison with other legal teams I have consulted and worked with, IndusLaw is easily the most hands-on, responsive and meticulous team. ’
‘Sahana Devanathan have been wonderful people to work with. They are attentive, meticulous, patient, polite, and responsive. Our matter has been especially challenging and we’ve had to face some adverse orders, but this team has helped us navigate through the maze of this litigation and overcome the obstacles, and, most importantly, give us confidence and help us strategise further. All of this is immensely valuable, and something that previous teams I have worked with have not provided to any measurable degree.’
‘The team are prompt in their response and ever ready to assist. They are easily approachable and incorporate a solution-centric approach.’
‘IndusLaw’s dispute resolution team is dynamic, dedicated, and results-oriented. Sushmita Gandhi and Anamika Singh are our go-to people for all our mandates.’
DBS Bank India Limited (formerly Lakshmi Vilas Bank Ltd.)
Google India Private Limited
Mahindra & Mahindra
IBM India Private Limited
3M India Limited
Alok Industries Limited
Asset Reconstruction Company (India) Limited (ARCIL)
ICICI Lombard General Insurance Company Limited
Chaudhary Group (CG Foods India Private Limited)
CTR Manufacturing Ltd.
Prince Pipes and Fittings Private Limited
Electronic City Industrial Township Authority
YES Bank Limited
Amrut Distilleries Private Limited
Nephrocare Health Services Pvt. Ltd
Roppen Transportation Services Private Limited
Ryan India Tax Services Pvt. Ltd.
SAIF III Mauritius Company Limited
Mr. Deepak Chhabria (Chairman and Managing Director of Finolex Cables Ltd.)
Maharashtra State Co-operative Tribal Development Corporation Limited (MSCTDC)
United Spirits Limited
- Acted for the Chaudhary Group (CG Foods India Private Limited) in proceeding pertaining to trade dress and packaging of two very well-known brands in the instant noodle market.
- DBS is being represented by us against Religare and Singh Brothers in civil and criminal proceedings where intricate legal issues relating to whether a security can be evidenced by circumstances; doctrine of indoor management; implied contract amongst others are being discussed and adjudicated.
‘Technically very good. Data privacy and understanding of tech and finance is incisive.’
‘As an international Fintech with a growing presence in the Indian market, we are delighted to have a long-standing relationship with IndusLaw. They are our law firm of choice in India as they have a deep understanding of the law and SEBI regulations and provide practical advice.’
The main partner we work with, Namita Viswanath, is an excellent client relationship manager and technical lawyer!’
Visage Holdings and Finance Private Limited
Zerodha Broking Limited
True Beacon Investment Advisors LLP
Vitraya Technologies Private Limited
Psi Phi Global Solutions Private Limited
- Advised Upstox, a regulated financial intermediary, on obtaining the necessary consents of the Regulator and additional licenses.
- Representing the ex-director of Ricoh India Limited with regard to SEBI allegations concerning allegations of violating certain provisions of the Securities Exchange Board of India (Prohibition of Fraudulent and Unfair Trade Practices.
India > Projects and energy Tier 2IndusLaw maintains a strong reputation for handling a diverse range of work in the traditional and alternative energy sectors. Practice head Arun Kumar and Hyderabad-based co-head Deepak Chowdhury are retained by developers and infrastructure funds for advice on complex land procurements.
United Nations Office for Project Services
Investment Fund for Developing Countries
IB Vogt GmBH
Shell India Markets Private Limited
Axis Energy Ventures (a Brookfield portfolio company)
EDF (Électricité de France S.A.)
Blue Leaf Energy Asia Pte. Ltd. (Macquarie Group company)
Solarpack Corporacion Tecnologica, SA
Ayana Renewable Power Pvt Ltd
AC Energy/UPC Energy
SB Energy Private Limited
Cleantech Solar (a Shell company)
- Advised the SDG/IFU and UNOPS S3i on their investment agreement; advising on the investor’s rights vis-à-vis lenders’ rights under the financing documents, and negotiating with lenders; and advising on finalising the EPC Contracts for the development of a household electricity project on behalf of the investor.
- Advising Amplus on its proposed acquisition of rooftop solar projects in various states of India.
- Advising Engine on project financing for an amount of $100m from the Asian Development Bank and Société Générale for setting up a 2x 100MW AC grid-connected solar PV project in Raghanesda Solar Park, Gujarat.
India > White-collar crime Tier 2IndusLaw’s stand-alone anti-bribery and anti-corruption practice handles a breadth of cross-border investigations in every stage of the legal process. Co-heads Amit Jajoo and Sushmita Gandhi are experienced in representing corporate, multinational, and high net-worth clients before different judicial bodies across the country in complex civil and commercial litigation and criminal matters. Avik Biswas who co-leads the team brings his in-depth know-how of internal corporate structures, demonstrated in the recent re-designing of an entire anti-bribery compliance structure for a major Indian corporation. Padmaja Kaul, Kartik Ganapathy, and Sowmya Kumar also co-lead the team and were joined by Vaibhav Bhardwaj from Shardul Amarchand Mangaldas & Co in May 2021.
Avik Biswas; Amit Jajoo; Padmaja Kaul; Kartik Ganapathy; Sushmita Gandhi; Sowmya Kumar; Vaibhav Bhardwaj
- Advised Swiggy India in the restructuring of its entire existing Anti-Bribery compliance structure and devised a system to train every employee in the area.
- Defended DBS Bank in Criminal proceedings initiated by Religare relating to the appropriation of fixed deposits of USD 7.50 million (approx.) before the Economic Offences Wing, Delhi. The matter pertains to the loans availed from Lakshmi Vilas Bank by RHC Holdings Pvt. Ltd. and Ranchem Pvt. Ltd. against the security over fixed deposits of USD 98 million of Religare, while the Religare Group was managed and controlled by the Singh brothers.
- Conducted training for all employees of NEC Corporation’s Indian subsidiary and covered their Global ABAC and Code of Conduct along with relevant provisions of The Prevention of Corruption Act, Foreign Corrupt Practices Act, as well as the UK Bribery Act. We were also instrumental in developing an online training module that was mandatory for each employee to go through as part of NEC’s compliance drive.
‘The team is proficient and possesses excellent knowledge in the field of competition law. They provide a holistic competition offering involving merger control advice as well as antitrust advice, including cartel and abuse of dominance cases. The lawyers are intelligent, thorough, and friendly, and provide excellent support even on time-sensitive matters. They have adeptly handled regulatory compliance mandates.’
‘Unnati Agrawal is an excellent up-and-coming partner with a good grasp over procedural as well as substantive law. She has a strong commercial sense and is quick to understand our business needs. She strikes a balance between legal and practical considerations and provides cogent legal solutions to complex business issues. Her vast experience in handling merger control as well as enforcement matters allows her to analyse issues in a holistic manner and advise not only on the issues at hand but also pre-empt and resolve potential future issues.’
Sumitomo Chemical India Pvt. Ltd.
Tranter India Private Limited
- Defended Sumitomo against an application seeking compensation under the Competition Act following the CCI’s finding of an aluminium phosphide cartel.
- Acted for Tranter in a writ petition filed before the High Court of Delhi against the CCI, challenging the constitutional validity of section 48 of the Competition Act relating to the imposition of penalties on directors and officers of the company.
- Advised Tinicum, a global private investment firm, on a merger control analysis under the Competition Act in relation to a proposed acquisition.
Intellectual property Tier 3IndusLaw provides comprehensive expertise across trade marks, copyright and patents in conjunction with commercial advice which provides ‘unique business perspectives’ to clients. Suneeth Katarki is advising clients on acquisitions and investments, including multinational and Indian brand owners and online marketplace and e-commerce companies. Partner Bharadwaj Jaishankar (who joined the team in June 2021 from Diageo) has rich experience in the protection and enforcement of IP assets combined with the management or commercialisation of IP assets in the context of corporate/commercial transactions, while Lomesh Kiran Nidumuri and Amit Jajoo (Mumbai) focus on disputes. On the corporate responsibility front, the firm has been involved in the mass vaccination drive by the Max Hospital and the Covid taskforce group to help provide hospitals with oxygen cylinders and medicines. Aditi Verma Thakur departed the firm in May 2021 to join Ediplis Counsels. All lawyers are based in Bengaluru unless otherwise stated.
‘We believe their focus on their trademark, copyright and commercial practices covering IP and technology subjects is quite strong and niche. Their unique business perspectives bring a lot of practical nuances when they apply legal principles to any client requirements.’
CTR Manufacturing Industries
JSC Remco, Russia
Prince Pipes And Fittings
Mandom Corporation (Japanese Parent entity) and Mandom Corporation (India) Pvt. Ltd. (its Indian subsidiary)
Ujjivan Small Finance Bank
- Advising and successfully enforced the trademark and trade name rights of Prince Pipes And Fittings Limited in a trademark infringement and passing off dispute against Prince Platinum Pipes and Fittings (A Division of Vigor Plast India Pvt Ltd).
- Advising and representing Arvind Retail Group on the enforcement actions against counterfeit products and fakes of ‘F2000 by Flying Machine’ branded products.
- Advised on intricate IP aspects of Juniten Pte Ltd, Singapore’s joint venture with Hyundai for manufacturing lithium-ion batteries, electric vehicles, and energy storage systems, in India, Republic of Korea, and Oman.
‘They are easily approachable and always incorporate a solution centric approach.’
‘We have had a long standing relationship and they have always cooperated with every demand/requirement of the institution.’
India Equity Partners
Silver Point Capital, L.P.
Resolution Professional of Tuticorin Coal Terminal Private Limited
Axis Bank Ltd
Yes Bank Ltd.
The Mauritius Commercial Bank
L&T Finance Ltd.
Alok Industries Limited
MSA Global Logistics Pvt. Ltd
Vaksh Steels Private Limited
Sri Ravinuthala Srinivasa Rao (Resolution Professional of Samyu Glass Private Limited)
Krishna Mohan Gollamudi (Resolution Professional)
Asset Reconstruction Company (India) Limited (ARCIL)
Kamini Metaliks Pvt. Ltd.
Mysmartprice Web Technology Private Limited
- Advising and representing Dhiren Shah, resolution professional (RP) of Tuticorin Coal Terminal Private Limited on issues relating to powers of RP, validity of claims filed before RP, eligibility of resolution applicants and validity of resolution plan, transfer of title of goods supplied by operational creditors.
- Representing Axis Bank in initiating corporate insolvency resolution process against NSL Renewable before the NCLT, Hyderabad Bench in respect of financial debt of over 86 crores.
- Advising and representing Yes Bank in initiating corporate insolvency resolution process against Raghuleela Builders Private Limited; Radius Estate Exim Private Limited; Radius Infra holding Private Limited; E Commerce Magnum Solution Limited (‘Radius developer group entities’) and their guarantors.
IndusLaw > Firm Profile
|Banking and finance|
|Capital markets and international offerings|
|Energy, infrastructure and natural resources|
|Fund investment, private equity and venture capital|
|Joint ventures and collaborations|
|Litigation and dispute resolution|
|Mergers and acquisitions|
|Projects and project financing|
Staff FiguresNumber of lawyers : 100+
LanguagesEnglish Hindi most major regional languages in India
MembershipsEO IBA INTA L&E Global IPBA (International Pacific Bar Association)
OtherContacts : Avimukt Dar Contacts : Gaurav Dani Contacts : Contacts : Contacts : Contacts : Contacts :
Legal Developments2nd February 2022
INTRODUCTIONWith aggregate ESG assets expected to exceed USD 50 trillion by 2025 (representing more than one-third of the aggregate projected global assets under management (AUM)) together with the backing of prominent investors, such as BlackRock and Brookfield, ESG investing can hardly be described as merely an investing trend. In India, for example, the AUM of ESG funds in 2021 totalled to INR 123 billion, nearly five times the AUM from two years ago. There are at least 10 ESG mutual funds in India today and, for benchmarking, investors here can now choose from multiple ESG indexes.
Recent shifts in India’s anti-bribery and anti-corruption strategyIt is an undeniable truth that the regulatory framework and law in relation to anti-corruption in India has undergone a significant change in the last couple of years. Considerable amendments have been made that have tightened disclosure requirements in the light of swelling number of financial frauds in India. To that end, the government of …
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