Firm Profile > Shardul Amarchand Mangaldas & Co > Mumbai, India

Shardul Amarchand Mangaldas & Co
MUMBAI 400 021

Antitrust and competition Tier 1

Shardul Amarchand Mangaldas & Co fields an extensive bench of antitrust and competition experts covering the breadth of knowledge for a client roster of multinational clients. On the merger control front, practice head Pallavi Shroff, Shweta Shroff Chopra and Aparna Mehra are advising on high-profile M&A reviews including Phase II clearances before the CCI for agriculture, manufacturing and private equity clients. Stand-out names on the enforcement side include Naval Chopra, Harman Singh Sandhu and Manika Brar. Highlights saw the team obtaining favourable penalty waivers in cartel proceedings before the CCI and NCLAT, while ongoing abuse of dominance proceedings are being handled by clients in the auto parts, chemicals, food and drink and oil and gas sectors.

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The team has very good knowledge in the field of competition law and is quite experienced in dealing and negotiating with the CCI.

Aparna Mehra is a very experienced competition lawyer, has very good contacts to the authorities and strongly argues for the client’s position.

Key clients International


Oravel Stays (OYO)

Larsen & Toubro Limited

Uber India Systems

Saudi Arabian Oil Company

Canadian Pension Plan Investment Board

Oil and Natural Gas Corporation

Bandhan Bank

Coal India


ZF Friedrichshafen

Suzuki Motor Corporation



Banking and finance Tier 1

Shardul Amarchand Mangaldas & Co's pan-India practice focuses on advising large banks and corporates on acquisition and leveraged finance, debt restructuring, consumer lending and corporate lending. Veena Sivaramakrishnan has a wealth of experience in financing, bank M&A and restructuring and insolvency mandates. In one of her career highlights, she advised the Committee of Creditors led by the State Bank of India on the corporate insolvency process of Essar Steel India and its subsequent acquisition by Arcelor Mittal for approx. $7bn. Shilpa Mankar Ahluwalia specialises in fintech, debt capital markets and structured finance. Shubhangi Garg brings additional expertise to the team in acquisition finance, syndicated loans, FCCBs and debt issuances by InVITs and REITs. Sapan Gupta left the firm to take an in-house position in March 2020 and Dr Rajeev Uberoi has joined the team as a senior advisor.

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Key clients

State Bank of India

Axis Bank

Bank of India

Indian Overseas Bank

JP Morgan Chase Bank


BNP Paribas


Azure Power Solar Energy Private Limited

KKR India Financial Services Private Limited

International Finance Corporation (“IFC”)

Aditya Birla Finance Limited (“ABL”)

Farallon Capital Asia Private Limited (“Farallon”)

Trafigura Pte Limited (“Trafigura”)

TPG Fund and its portfolio companies both offshore and in India.

The National Bank of Ras Al-Khaimah (P.S.C)

GIC Pte Ltd

Goldman Sachs


IIFL Asset Management.

West Coast Paper Mills Limited

Tata Steel BSL Limited (Formerly known as Bhushan Steel Limited)

Panacea Biotec Limited

JP Morgan

Morgan Stanley

Capital markets Tier 1

Shardul Amarchand Mangaldas & Co' team advises large banks and corporates on major debt and equity offerings, including IPOs, QIPs, FCCBs, private placements and listings of InvITs and REITs. Prashant Gupta advises underwriters and issuers undergoing major debt and equity transactions. In a recent highlight, he advised a consortium of banks subscribing to Bharti Airtel's $3.5bn rights issue, representing India's largest capital markets transaction. Nikhil Naredi's ambit of work includes ADR listings, private placements, IPOs and follow-on public offerings. Shubhangi Garg has impressive credentials in debt capital markets transactions, whereas Manjari Tyagi often advises lead managers and issuers on complex, cross-border IPOs.

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Key clients

Kotak Mahindra Capital Company Limited

Axis Bank Limited

J.P. Morgan India Private Limited

Citigroup Global Markets India Private Limited

Morgan Stanley India Company Private Limited


K Raheja Group

ICICI Securities Limited

Axis Capital Limited

State Bank of India

Corporate and M&A Tier 1

With particular strength in public M&A, Shardul Amarchand Mangaldas & Co is one of the first ports of call for Indian and international clients who seek assistance with complex and oftentimes multi-billion dollar transactions. Drawing upon the firm's full-service capabilities in employment, antitrust, dispute resolution, tax and real estate, the core corporate practice is a one-stop shop for the entire array of corporate and M&A matters. Raghubir Menon stands out for his expertise in public company takeovers; he receives regular instructions from sovereign wealth funds, private equity firms and multinationals. Joint ventures, cross-border investments and corporate restructuring are some of Natashaa Shroff's notable areas of practice.

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Key clients

Facebook, Inc.

General Atlantic Singapore Fund Private Limited

GMR Airports Limited

Oriental Structural Engineers Private Limited

Krishnapatnam Port Company Limited

GMR Energy Limited

SBI General Insurance Company Limited

Citi Ventures

Kora Management LP

Grofers International Private Limited

Dispute resolution: arbitration Tier 1

Shardul Amarchand Mangaldas & Co' acts for major corporates in international and domestic arbitration proceedings in various forums, including SIAC, the ICC and LCIA. Pallavi Shroff specialises in arbitration and litigation in the energy, infrastructure and natural resources sectors. Tejas Karia, who is an appointed member of SIAC, has a strong track record in arbitrations regarding shareholders' agreements, joint ventures, construction projects and private equity investments. Rishab Gupta has extensive experience in investment treaty arbitration and international arbitration, during which he conducts his own written and oral advocacy.

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Key clients

Shokat Mohammed Dalal (UK citizen)

Korea Western Power Company Limited (KOWEPO)

Dispute resolution: litigation Tier 1

Shardul Amarchand Mangaldas & Co represents claimants and defendants in litigation across India's court system, including insolvency, fraud, competition and unfair trading disputes. Pallavi Shroff has very strong credentials in competition law disputes. Ritu Bhalla specialises in commercial and regulatory litigation, including high stakes matters before the NCLT. Nitesh Jain  has joined Trilegal.

Insurance Tier 1

An impressive corporate insurance practice at Shardul Amarchand Mangaldas & Co sees practice head Shailaja Lall and key partners Ashish Teni and Roopal Kulsrestha acting for global life and non-life insurers, reinsurers and brokers on cross-border M&A, joint ventures, corporate restructuring, strategic investments and exits. Robust regulatory knowledge is provided by the team, applied to policy and coverage structuring, all transactional activity and dealings with the IRDAI, the latter including appeals before the Securities Appellate Tribunal. Regulatory advice on the implementation of customer-facing insurtech products was recently provided to numerous providers.

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Key clients

Apollo Hospitals Enterprise Limited and Apollo Energy Company Limited

PNB MetLife India Insurance Company Limited

One97 Communications Limited( Paytm)

Private client Tier 1

Shardul Amarchand Mangaldas & Co' team frequently advises HNW individuals, promoters and business owners on family settlements, succession plans and asset ring fencing. Divi Dutta offers clients advice in all areas of wealth management, including trust structuring, wills and settlements. Associate Vrinda Pareek handles family settlements, succession planning, and the setting up of domestic and offshore trusts. In a recent highlight, Dutta and Pareek advised the promoters of O.P Jindal Group on a family settlement agreement, which involved the restructuring of eight listed flagship companies.  

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Key clients

O.P Jindal Group

Hero Group:

HPL Electric Private Limited

Cigniti Technologies Limited

Mr. Arun Krishan Puri

Projects and energy Tier 1

Shardul Amarchand Mangaldas & Co offers advice to the entire array of stakeholders, including governmental bodies, multilateral agencies, developers, contractors and investors, on  the negotiation of innovative security structures and project documentation. One of the first destinations for financing mandates and PPP projects, the team is also adept at representing developers and industrial consumers in regulatory proceedings, and assisting with privatisation transactions. Practice head Jatin Aneja  has strong transactional credentials in the oil and gas sector, while V. R. Neelakantan is experienced in power transmission projects, concerning traditional and renewable energy sources. Deepto Roy is extremely active in this field, bringing together litigation, regulatory and transactional expertise. Project finance is one of Prashant Sirohi's core legal specialisms.

Real estate and construction Tier 1

Fielding a real estate team based across New Delhi, Bengaluru, Chennai and Mumbai, Shardul Amarchand Mangaldas & Co offers pan-India support covering foreign direct investments, land use, joint ventures, as well as restructuring and development matters. Furthermore, the department is well versed in environmental law and contentious matters, standing out for its extensive experience in high value real estate financing, private equity (PE) transactions and commercial leasing. Mrinal Kumar has been actively advising on corporate and commercial issues pertaining to real estate transactions. Real estate, construction and engineering mandates feature heavily on Ashoo Gupta’s workload; she is also an individual to note for high-value PE investments in the real estate space.

Restructuring and insolvency Tier 1

Shardul Amarchand Mangaldas & Co provides the full range of restructuring and insolvency services, and is regularly involved in high-profile  bankruptcy matters in relevant sectors, such as telecoms, steel and manufacturing. The team, which is predominantly  engaged by committees of creditors and resolution professionals, displays equal strength in distressed M&A and contentious insolvency proceedings. Out-of-court and formal restructuring matters, asset reconstruction and cross-border processes are other focus areas for the department, which is chaired by leading practitioner Shardul Shroff. Distressed funds and international banks often seek Veena Sivaramakrishnan's support in relation to their investments in domestic entities.

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Key clients

Power Finance Corporation

Resolution Professional of Alok Industries Limited

Bank of America Merrill Lynch

Resolution Professional and Committee of Creditors of

ARGL Limited

Resolution Professional of SPS Steels Rolling Mills Limited

Committee of Creditors of Bhushan Energy Limited

Resolution Professional of JEKPL Limited


State Bank of India


Resolution Professional of Ferro Alloys Corporation Limited

Resolution Professional of Videocon Industries Limited

Visa Steel Limited

Tax Tier 1

On the transactional side of Shardul Amarchand Mangaldas & Co’s tax offering, high-profile global corporates frequently engage key partners Amit Singhania and Gouri Puri on market-leading M&A deals, joint ventures, foreign investments and large-scale corporate reorganisations. Abhay Sharma regularly provides direct taxation advice to global private equity funds and sovereign wealth funds, while Rajat Bose (who recently joined from a Big Four accounting firm) leads the indirect tax team, encompassing GST, VAT and service tax issues. Additional fields of expertise include state-specific excise tax knowledge, provided to alcoholic beverages companies, and digital taxation, provided to digital businesses, social media platforms and government bodies. On the contentious front, tax controversies including audits, investigations and appeals are handled.

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Key clients


Canada Pension Plan Investment Board

Walmart Inc.

OMERS (Pension Fund)


Apollo Group

Norwest Venture Partner

Bafin B.N. (Bata Group)

Carsberg India Private Limited

Krishnapatnam Ports Company Limited (Navayuga Group)


Henkel Adhesive Technologies

Duracell Inc.

Mother Dairy Fruit & Vegetable Private Limited

Tiger Media Holdings

Jindal Steel Ltd

Jupiter Wagons Limited

Blue Water Energy LLP

TMT Tier 1

The Shardul Amarchand Mangaldas & Co practice advises well-known media, technology and telecoms companies on regulatory and transactional matters, including high value M&A, commercial agreements and business critical disputes. Gv Anand Bhushan has amassed a wealth of experience across the TMT sector, encompassing data protection, IT law, cyber-security and product development, among numerous other areas. Tejas Karia is often instructed by TMT clients in corporate and commercial litigation and arbitration proceedings. Shahana Chatterjee is particularly well-versed in data privacy and online content regulation.

White-collar crime Tier 1

Shardul Amarchand Mangaldas & Co has a top-tier white-collar investigations practice led by Pallavi Shroff, with multijurisdictional instructions coming from global financial services, telecoms, FMCG, construction and manufacturing clients, among others. Nishant Joshi fields expertise in handling parallel civil and criminal proceedings concerning claims of fraud, negligence, data theft, cybercrimes, money laundering and all other economic offences. Anuj Berry continues to build the extradition practice, having represented Indian clients in numerous dealings with Interpol involving cross-border corruption claims. Lateral hire Alina Arora from L&L Partners Law Offices further strengthened the anti-corruption governance and compliance skillset. M&A due diligence and anti-bribery/anti-corruption post-merger compliance is routinely supplied to the firm’s corporate clients.

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Key clients

HCL Technologies Limited

J.P. Morgan India Private Limited

Quikr Mauritius Holding Limited

Citibank N.A.

Motorola Solutions India Private Limited

Samsung India Electronics Limited

General Motors




Vigen Healthy Tech India Private Limited

Ingram Micro

Punjab National Bank


Labour and employment Tier 2

Shardul Amarchand Mangaldas & Co’s labour and employment practice focuses on providing HR guidance and policy support for the firm’s substantial global client base. Practice head Pooja Ramchandani advises on senior-level hiring and retrenchment, full-scope workforce structuring, POSH and disciplinary policies, employee benefits negotiations and M&A support. Internal misconduct investigations is also a point of strength, supported by principle associate Vaibhav Bhadwaj and senior associate Kriti Kaushik. Sector expertise is broad, though the team is particularly active in the healthcare, aviation, banking and finance and manufacturing industries.

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They have in-depth understanding of our business and provide relevant, tailored legal advice. They are our preferred firm for these reasons.

Pooja Ramchandani, Kriti Kaushik and their team are extremely receptive and responsive to our needs. They are easily approachable and make themselves available whenever required. Their research and advice is in depth and contextual.

Private equity and investment funds Tier 2

Jay Gandhi is the key name at Shardul Amarchand Mangaldas & Co for investment fund formations and structuring, while Raghubir Menon is the regional practice head for private equity transactions. The team is retained by a diverse list of sovereign wealth funds, private equity investors, hedge funds, venture capital funds and infrastructure finds.

Intellectual property Tier 3

Recent successes for the contentious side of Shardul Amarchand Mangaldas & Co’s IP vertical saw practice head Dev Robinson defend clients in the utilities and heavy industries before the High Court on trade mark and design infringement allegations. Trade mark and patent prosecution and enforcement instructions are regularly handled with the assistance of technology sector expert Muzammil Husain and consumer goods and FMCG sector expert JV Abhay. Licensing transactions and technology transfers are also points of focus.

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The firm: Founded on a century of legal achievements, Shardul Amarchand Mangaldas & Co (SAM & Co) was born anew in May 2015. The executive chairman, Mr Shardul S Shroff and the managing partner, Ms Pallavi Shroff were instrumental in setting up this new firm and carried forward the legacy that the firm has inherited.

With a well-calibrated growth strategy, SAM & Co is one of India’s leading full service law firms with seven offices across India and a team strength of over 500 lawyers including over 100 partners. The firm’s mission is to enable business by providing solutions as trusted advisors through excellence, responsiveness, innovation and collaboration. SAM & Co is known globally for its exceptional practices in mergers and acquisitions, private equity, competition law, insolvency and bankruptcy, dispute resolution, capital markets, banking and finance and projects and infrastructure. The firm has been at the helm of major headline transactions and litigation in all segments of industry, besides advising major multinational corporates on their entry into the Indian market and their business strategy.

Areas of practice
General corporate: Our work in the areas of mergers and acquisitions, JVs, private equity, insurance, real estate, employment and business restructuring is well documented in the annals of Indian corporate history. Our corporate teams are well complemented by our other practices for facilitating deal closures.

Banking and finance: Our offerings range from traditional banking documentation to securitisation, factoring, payment banks, syndicated loans, structured acquisition equipment finance, mortgage backed securities, guarantee structures, NCDs, ECBs, and working capital loans.

Competition law: With a strong and the most recognised competition practice in India, the competition team has a proven track record of successfully steering clients through their largest transactions, complex investigations and high-stakes litigations.

Insolvency and bankruptcy: Our experience covers an entire range of scenarios relating to Bankruptcy and Insolvency, starting from early signs of distress to corporates and restructuring towards revival to processes involving liquidation and winding down of businesses. We provide a comprehensive solution in terms of financial restructuring and recovery, insolvency, corporate reorganization and restructuring, creditors’ rights, and contingent preparedness against any peripheral litigation.

Dispute resolution: We are a go-to firm across industries for domestic and international arbitrations, commercial and corporate and regulatory disputes in various courts, tribunals, forums, administrative authorities and regulators in India, and also have white collar crime, and insolvency and restructuring teams.

Projects and project finance: We advise developers, EPC contractors, investors and lenders on various infrastructure projects, regulatory aspects, government tenders, and contractual issues in sectors such as power, oil and gas, nuclear energy, ports, roads and mining.

Capital markets: Our offerings include legal and regulatory advice on IPOs, FPOs, rights issues, QIPs, ADRs, GDRs, IDRs, and AIM listings on the equity side; issuance and restructuring of FCCBs, nonconvertible bonds, unlisted infrastructure bonds, and medium term note programs (MTN Programs) on the debt side.

Tax: We offer a broad range of advisory and litigation services in the areas of direct as well as indirect taxes (including customs duty, goods and service tax and state excise / alcohol duty).

Intellectual property rights: We offer a full range of services that cover patents, trademarks, copyrights, designs and other allied laws, from conceptualisation to enforcement and from negotiations to creation of innovative corporate structures based on intellectual property.

Venture capital: We represent premier domestic and international clients on the investor as well as investee company side for early and growth stage financings. Our VC lawyers have sizeable deal experience (including having worked at prominent VC funds) and bring a deep understanding of the nuances of early stage investing.

Department Name Email Telephone
General corporate Iqbal Khan
General corporate Jay Parikh
General corporate Abhishek Guha
M&A Akshay Chudasama
M&A Mithun Thanks
M&A Raghubir Menon
Private equity Raghubir Menon
Private equity Jay Gandhi
Private equity Iqbal Khan
Dispute resolution Ameya Gokhale
Dispute resolution Nitesh Jain
Dispute resolution Rishab Gupta
Competition John Handoll
Competition Gauri Chhabra
Insolvency & bankruptcy Sapan Gupta
Insolvency & bankruptcy Veena Sivaramakrishnan
Banking & finance Sapan Gupta
Banking & finance Soummo Biswas
Banking & finance Veena Sivaramakrishnan
Projects and project finance Deepto Roy
Projects and project finance Vishaka Prasad
Projects and project finance Debashree Dutta
Tax Abhay Sharma
Capital markets Monal Mukherjee
Capital markets Nikhil Naredi
Capital markets Kaushik Mukherjee
Real estate Akshay Chudasama
Real estate Ashoo Gupta
Real estate Radhika Dudhat Pereira
IP Dev Robinson
IP Mukul Baveja
Insurance Roopal Kulsrestha
Policy & regulation Yogesh Chande
Investment funds Jay Gandhi
Photo Name Position Profile
 Soummo Biswas photo Soummo Biswas Mr. Soummo Biswas focusses on Banking & Structured Finance and Debt Capital…
Mr Akshay Chudasama  photo Mr Akshay Chudasama Mr. Akshay Chudasama is the Managing Partner at Shardul Amarchand Mangaldas and…
 Rishab Gupta photo Rishab Gupta Dr Rishab Gupta is a Partner at Shardul Amarchand Mangaldas, and leads…
Mr Sapan Gupta  photo Mr Sapan Gupta Mr. Sapan Gupta is a Partner and the National Practice Head of…
Mr Nitesh Jain  photo Mr Nitesh Jain Mr. Nitesh Jain is a Partner with the Mumbai office of Shardul…