Mr Saket Shukla > Phoenix Legal > New Delhi, India > Lawyer Profile
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okhla phase 3
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Mr Saket Shukla
Saket Shukla’s practice specialises in M&A, JVs, private equity and complex corporate and commercial transactions across a range of sectors.
Saket Shukla is a co-founding partner of Phoenix Legal, one of India’s fastest growing law firms. Saket specialises in complex advisory and transactional work across various sectors (nuclear, infrastructure, mining, insurance, broadcasting, etc.) and strategic advisory through different phases of doing business in India. With more than two decades of experience, Saket has handled intricate strategic advisory, transactional and projects work, representing investors, targets and various project participants. He has also regularly been representing clients on their India strategy from inception to exit, including through restructurings and high value acrimonious exits, after successfully navigating through the complexities involved in the Indian regulatory framework and enforcement actions. Saket’s clients include major international investors, multilateral agencies, promoter groups and HNIs.
Saket keenly follows the regulatory environment in India and participates in various policy building measures. He led an initiative with the insurance regulator which ultimately resulted in the regulator issuing guidelines for mergers of general insurers in India. Apart from policy building measures, Saket also has a keen interest in the social sector. He has advised a US Task Force on CSR related issues and a project in eastern India for connecting silk weaving communities with designers and artists-in-residence to match their craft with current fashion. He also represents newslaundry.com, an alternative model for news which is public sourced, funded and powered unlike conventional ad-funded media.
May 1997 to April 2000 – Associate in Kochhar & Co, New Delhi, India
April 2000 to March, 2004 – Senior Associate at Trilegal, New Delhi, India
April, 2004 to October, 2008 – Partner at Trilegal, New Delhi, India
Year qualified: 1997
Year made partner in present firm: October 2008 (Founding Partner)
Awards and Citations:
- A Recommended lawyer in Insurance, Corporate M&A ranked by RSG Consulting 2019, he has been described as ‘pragmatic’ and highly proactive. Clients recommended him for his “swift” approach and “valuable advice“.
- Saket Shukla is known for his transactional practice, often advising on acquisitions and development in the energy sector. “He’s good, mainly doing oil and gas work,” remarks one source. Projects, Infrastructure & Energy, Chambers and Partners Global 2019.
- Honoured as a Thought Leader and recognized as a Recommended Global Leader (Insurance & Reinsurance) by WWL for 2019 rankings, Saket Shukla has been quoted as ” a prominent name in the Indian market and an expert in transactional and regulatory insurance and reinsurance.”
- Asialaw Profiles quotes “Saket is a corporate partner specialising in M&A, private equity and foreign investment related matters. He has impressed me with his first class advice and service, and his solution-oriented approach in dealing with thorny issues in a methodical and calm manner. He is a pleasure to work with.”
- Chambers & Partners 2018 quotes that he is “very pragmatic, solution-oriented and demonstrates the ability to meet clients’ requirements.” He is particularly adept at handling project-related transactions.
- Legal 500 Asia Pacific 2018: Sakethas ‘a great ability to see the bigger picture and solve problems while keeping the legal constraints in mind’.
- Who’s Who Legal says: Saket Shukla is a pre-eminent name in the Indian insurance and reinsurance field, with a wealth of knowledge on distribution advisory work and joint ventures.
- Chambers & Partners reports that Saket “understand[s] what I am asking for and translate[s] that into simple advice that I can immediately use.”
Publications of note:
- Panelist at the “IFLR India FDI Forum 2011” held in Singapore
- The India chapter for Gas Regulations (Global Competition Review) 2004 Edition.
- The India chapter for The Preston Gates Guide to Telecommunications in Asia, 2005.
- “Mergers in general insurance sector: soon to be a reality” published in International Business Law Journal March, 2011.
- “IPOs in the insurance sector: myriad factors at play” published in International Business Law Journal December 2010 – January 2011.
- Presented a paper on M&A in the 2007 Asia law India Summit held in Delhi and on an Infraline organised conference on “India’s search for Energy Resources World-Wide; Some Successes and Some Failures: The Search Continues“.
English and Hindi
Admitted Bar Council of Delhi
St. Michaels School, Patna
B.A. (Hons.), Delhi University (1990-1993)
LLB, Faculty of Law, Delhi University (1994-1997)
Master in Business Law, National Law School of India University, Bangalore (2002)
Corporate and commercial law are core areas of practice at Phoenix Legal, which has a strong track record of handling transactions in regulated sectors, including insurance, financial services, pharmaceutical, infrastructure and natural resources. Showcasing experience in inbound and outbound investments, the practice is further skilled at advising on corporate governance, tax structures and regulatory requirements. Manjula Chawla is a seasoned practitioner in strategic corporate transactions involving multiple jurisdictions. Saket Shukla has extensive experience in the insurance sector.
Tax advisory and cross-border restructuring matters at Phoenix Legal are handled by co-head Abhishek Saxena on the direct side and co-head Pranav Srivastava on the direct side. The team was recently engaged by Indian subsidiaries to advise on transfer pricing, triangular trade agreements, import-export transactions, permanent establishment issues and general M&A activity. Co-heads Manjula Chawla and Saket Shukla add strength to transactional matters. sectors of focus include insurance, financial services, IT, healthcare and the heavy industries.
The strong contentious offering at Phoenix Legal’s insurance practice regularly represents domestic and international reinsurers and assurance companies in complex coverage disputes. Co-head Mrinal Ojha fields expertise in employment practice liabilities while challenges to claim settlements are regularly handled by co-heads Trinath Tadakamalla and Debarshi Dutta, often with a cross-border element. Co-head Saket Shukla leads on non-contentious transactional support, policy-building engagements and regulatory advice. Insureds in the pharmaceuticals and automotive sectors also retain the team for litigation support.
Ongoing instructions for Phoenix Legal’s labour and employment practice include compensation package structuring, collective bargaining negotiations (for the extensive manufacturing client base), employee contract reviews, workforce reorganisations and M&A-related due diligence. A long list of IT clients retains the team for advice on retrenchments, executive-level remuneration and trade union negotiations. The partnership comprises practice heads Manjula Chawla, Saket Shukla, Abhishek Saxena and Sawant Singh.
Phoenix Legal advises technology, media and entertainment clients in relation to their regulatory and transactional needs, including software development, investment, acquisitions and licensing. Manjula Chawla has significant expertise in corporate transactions and corporate governance, competition law, employment and data protection mandates. Saket Shukla is a go-to partner for clients engaged in M&A, PE exits, restructuring and joint ventures.