Veritas Legal > Mumbai, India > Firm Profile
Veritas Legal Offices
FORBES BUILDING, 1ST FLOOR
CHARANJIT RAI MARG, FORT
MUMBAI
India
- Go to...
- Rankings
- Firm Profile
- Main Contacts
- Lawyer Profiles
- Diversity
- Notable Cases
- International Capabilities
- Client Testimonials
- Interviews
- Legal Developments
Veritas Legal > The Legal 500 Rankings
India > Private client Tier 2
With an increasing private client list of HNWIs, Veritas Legal routinely advise promoters of large domestic and multinational companies from a range of sectors on wills, succession planning, philanthropic work and inheritance tax matters. Operating from Mumbai, experienced practitioners and practice co-heads Abhijit Joshi and Kunal Doshi advise on the drafting of wills, trust deeds, family agreements and constitutions.Practice head(s):
India > White-collar crime Tier 2
The highly skilled team of Veritas Legal relies on its understanding of local authorities to provide appropriate and workable solutions for white-collar crime cases. The team works with a broad range of clients, including organizations and individuals, and advises on a variety of complex regulatory matters, investigations, and disputes arising under Indian laws. The practice is led by the quartet of Rahul Dwarkadas, Abhijit Joshi, Neveille Mukerji , and Prachi Dhanani.Practice head(s):
Rahul Dwarkadas; Abhijit Joshi; Neveille Mukerji; Prachi Dhanani
Testimonials
‘The team gives hands-on advice also on very short notice and in difficult high stakes situations. It makes clear statements and gives robust advice also with limited available information.’
‘Rahul Dwarkadas stands out as he is robust and pragmatic in the advice he renders.’
‘The firm has a strong team of experienced lawyers well equipped to advise and represent clients in demanding and challenging matters, especially in remote areas of the country. They also have a great understanding of the complexities of the judicial system and authorities helping multi-national clients be well equipped for the difficult matter. Their expertise is well acknowledged and they are the go-to firm for many companies in the healthcare industry.’
‘Rahul Dwarkadas is exceptionally good, go-to counsel on litigation matters, and one can rely on him for clear, concise and decisive insights at a speedy pace regardless of the complexity of the matter. Neveille Mukerji is grounded, balanced and available to support in demanding and challenging matters that require detailed orientation and nuanced approach.’
Key clients
Huntsman International (India) Private Limited
M/s Airplaza Retail Holdings Pvt. Ltd.
Sanofi India Limited
Pfizer Limited
Tushar Choudhary
Independent Director of CG Power and Industrial Solutions Ltd.
Deloitte Haskins & Sells – IL&FS matter
Work highlights
- Advised Huntsman International (India) Private limited on case pertaining to data theft by ex-employees wherein the firm was instrumental is convincing the Court, due to the gravity of the situation, to order a physical search during the Covid-19 pandemic.
- Represented Sanofi India Limited in a Civil Writ Petition filed against the company, the Top Management, and some employees, by an employee of company before the Bombay High Court.
- Represented Deloitte Haskins & Sells LLP in challenging the validity of the direction issued by the Government of India sanctioning prosecution in relation to the audit performed by it for IL&FS Financial Services Ltd before several different judicial and or quasi-judicial bodies
India > Antitrust and competition Tier 3
The competition law team at Veritas Legal directs its focus towards transactions and filings under the merger control regime, frequently serving corporates in the pharmaceuticals, healthcare and insurance sectors. Rahul Dwarkadas heads the practice and regularly handles competition disputes and regulatory matters. Principal associate Zenia Cassinath advises on merger control for domestic and international clients across a variety of sectors, including the logistics, wholesale cash and carry, dairy and real estate sectors.Practice head(s):
Rahul Dwarkadas
Other key lawyers:
Key clients
Partners Group
Advised Global Content Alpha Partners Holdco Pte. Ltd.
Work highlights
- Advised Partners Group on the antitrust aspects of the acquisition of a majority stake in Atria Convergence Technologies.
- Advised Global Content Alpha Partners on its acquisition by entities ultimately controlled by Baring Asia Private Equity Fund.
India > Corporate and M&A Tier 3
Boutique firm Veritas Legal focuses on M&A for domestic and international clients, advising corporates and private equity investors on transactions in a variety of industries, including pharmaceuticals, real estate, and retail. The team has a strong record in cross-border transactions, including associated regulatory and employment elements. Abhijit Joshi heads up the Mumbai-based practice, focusing on pharma and healthcare deals, while Kunal Doshi handles M&A and corporate governance issues. In November 2021, the firm promoted three new female partners in Kanisha Vora, who has a notable focus on ESG issues, Natasha Sethna, a regular advisor to private equity investors, and Somrita Chatterji, who handles work in the retail and e-commerce sectors.Practice head(s):
Other key lawyers:
Testimonials
‘Abhijit Joshi is top notch.’
‘Veritas Legal is extremely focused in first understanding the issue in its entirety and giving very practical, honest yet ‘out of the box’ solutions.’
‘The Veritas team is comprehensive in giving the right advice after understanding the position of the client. They are also very humane and have an important emotional quotient in their interaction.’
‘Very attentive and practical approach. Good sense of clients need and the businesses involved. Working with Veritas Legal provides you with both the map and the compass for the Indian legal landscape.’
‘Abhijit Joshi and Kunal Doshi are both truly experienced and attentive with a sound and pragmatic business-minded approach. They have many years of experience from working with Northern European clients, who highly appreciate their advice.’
Key clients
Abu Jani and Sandeep Khosla
TVS Group
FedEx Corporation
Serum Institute
Aegis Logistics
Leanswift Solutions
Kedaara Capital
Ceinsys Limited
Universal Medicare Private Limited
Baxter Planning
Siemens Limited
BIAS Corp
Partners Group
Indus Petrochem
Work highlights
- Acted for and advised Abu Jani Sandeep Khosla, and its partners Abu Jani and Sandeep Khosla, in relation to the joint venture partnership with Reliance Brands Limited.
- Acted for and advised one of the family groups involved in relation to the restructuring of the TVS Group pursuant to which a scheme of amalgamation was approved by the NCLT.
- Advised FedEx on their equity investment of approximately US$100 million in Delhivery Private Limited.
India > Private equity and investment funds Tier 3
The ‘results oriented‘ team at Mumbai based boutique firm Veritas Legal regularly advises funds and corporates on series funding investments and exits. ‘Seasoned, savvy veteran‘ Abhijit Joshi heads the practice as the managing partner of firm, and has ample experience in handling private equity matters, supported by Tushar B. Raut, who has a distinct focus on cross-border TMT investment transactions. Manav Raheja combines his experience in the manufacturing, infrastructure, and financial services sectors to advise a variety of venture capital and private equity strategic investors.Practice head(s):
Other key lawyers:
Manav Raheja; Natasha Sethna; Tushar B Raut; Kunal Doshi
Testimonials
‘Veritas is excellent for complex corporate and private equity transactions. Though they are smaller, their deal list and list of clients are on par with the larger firms. Overall, a very good, solid firm that you can trust to get the job done right.’
‘Abhijit Joshi knows how to work with multinational and Indian clients. He is a seasoned, savvy veteran.’
‘Veritas team is experienced, expert and result oriented.’
‘I had the pleasure of working with Abhijit and Kunal Doshi. They are practical, pragmatic and full of energy. They bring their experience and expertise to the table, which is useful in solving problems.’
Key clients
Mirae Asset
Masaba Gupta
Amagi Media Labs
Brookfield Asset Management
Mayfield India
Raise Fintech
Tomales Bay Capital
TPG Growth
Epiq Capital
Nova Medical
Kedaara Capital
Partners Group
Picus Capital
Work highlights
- Advised TPG Growth on its investment in Dr Agarwal in the largest-ever fundraising in the Indian eye care space.
- Advised the Mirae Asset entities on the structure of the transaction and negotiated the transaction documents for the primary investment by Mirae and other investors in Nextbillion.
- Advised BSREP III on the purchase of half of the shareholding of Tulsi Palace Resorts Private Limited, the owner of a luxury five-star hotel in Jaipur. The firm conducted the due diligence of the target company, negotiated and drafted the transaction documents.
India > Real estate and construction
Veritas Legal > Firm Profile
Veritas Legal is a boutique business law firm with full-service offerings, established in 2015. Our team provides clear client-focused legal advice and solutions based on an in-depth knowledge of the legal, regulatory and commercial environment in India. Our clients benefit from our experience, blended with the personal attention and streamlined advice that we provide.
Veritas Legal has marked its niche presence in each of its practice areas (across sectors), which include:
- Mergers and acquisitions
- Private equity / venture capital
- Litigation and dispute resolution
- Real estate
- White-collar crime
- Anti-trust/competition
- Joint ventures
- Private client practice
- Labour and employment
- Restructuring and insolvency
- Data protection, privacy and security
- Private equity in real estate
- ESG (Environmental, Social & Governance)
In a short span, the firm has been involved in over 300 noteworthy M&A and private equity deals, and more than 500 litigation filings in various judicial fora across the country and bagged noteworthy accolades including:
Legal500 Asia Pacific Guide
- Ranked in Tier – 2 for Private Client and White-Collar Crime (India) in 2021 and 2022.
- Ranked in Tier – 3 for Anti-trust and Competition (India) in 2022.
- Ranked in Tier – 3 for Corporate/M&A (India) in 2021 and 2022.
- Ranked in Tier – 4 for Private Equity and Investment Funds (India) in 2021 and 2022.
- Recognized as ‘Firms to Watch’ for Real Estate and Construction (India) in 2022.
Chambers & Partners Asia – Pacific Guide
- Ranked in Band – 2 for Corporate /M&A (The Elite) in 2022.
- Ranked in Band – 3 for Private Equity (India) in 2022.
- Ranked in Band – 4 for Real Estate (India) in 2022.
Chambers & Partners Global Guide
- Ranked in Band – 2 for Corporate/M&A (India- The Elite) in 2022.
- Ranked in Band – 3 for Corporate/M&A (India) in 2019 to 2021.
RSG India Report
- Ranked 15 in the Top 50 India Ranking 2019.
- Ranked 27 in the Top 40 India Ranking 2017.
Forbes India
- Recognized as a ‘Top Law Firm’ (below 10 years of experience) for Life Sciences & Pharmaceuticals, Mergers & Acquisitions, Joint Venture, Private Equity & Venture Capital, Real Estate & Construction, White Collar Crime and Family in the Legal Powerlist 2021.
- Recognized as a ‘Top Law Firm’ (below 10 years of experience) for Life Sciences & Pharmaceuticals, Mergers & Acquisitions and Private Equity & Venture Capital in the Legal Powerlist 2020.
IFLR1000
- Ranked in Tier – 4 for Mergers and Acquisitions (India) in 2022.
- Awarded ‘Rising Star Firm of the Year’ by IFLR1000 India Awards 2020.
- Recognized as a ‘Notable Firm’ for Mergers and Acquisitions (India) in 2019 to 2021.
- Ranked in Tier – 3 for Private Equity (India) in 2020 to 2022.
Asialaw Profiles
- Recognized as a ‘Recommended Firm’ for Corporate/M&A and Private Equity (India) in 2022.
- Recognized as a ‘Notable Firm’ for Competition and Real Estate (India) in 2022.
- Named as a ‘Recognized Firm’ for Dispute Resolution (India) in 2022.
- Recognized as a ‘Notable Firm’ for Pharmaceuticals and Life sciences, Technology and Telecommunications (India) in 2021 and 2022.
Benchmark Litigation Asia-Pacific
- Ranked in Band – 4 for Commercial & Transactions in 2020 and 2021.
- Recognized as a ‘Notable Firm’ for Construction in 2020 and 2021.
- Recognized as a ‘Recommended Firm’ for White Collar Crime in 2020 and 2021.
Asian Legal Business
- Recognized as ‘Boutique Law Firm of the Year’ by ALB India Law Awards 2021.
- Recognized as a ‘Tier 2 Firm’ in M&A Rankings in 2019 to 2021.
- Recognized as ‘India Firms to Watch’ by Asian Legal Business 2021.
- Awarded ‘Rising Law Firm of the Year’ in the ALB India Law Awards 2020.
India Business Law Journal
- Awarded ‘Winning Law Firm’ for Private Client Practice in the Indian Law Firm Awards in 2021.
- Recognized for ‘Corporate & Commercial’ in the Indian Law Firm Awards in 2019 and 2020.
Business World
- Awarded ‘Pharma & Life Science Law Firm of the Year’ in the Business World Legal Leaders Awards 2019.
Main Contacts
| Department | Name | Telephone | |
|---|---|---|---|
| Founding and Managing Partner | Abhijit Joshi | abhijit.joshi@veritaslegal.in | (+91) 22 43686700 |
Lawyer Profiles
| Photo | Name | Position | Profile |
|---|---|---|---|
 | Ms Somrita Chatterji | Partner | View Profile |
 | Ms Prachi Dhanani | Partner | View Profile |
 | Mr Kunal Doshi | Partner | View Profile |
 | Mr Rahul Dwarkadas | Partner | View Profile |
 | Mr Abhijit Joshi | Founding and Managing Partner | View Profile |
 | Mr Neveille Mukerji | Partner | View Profile |
 | Mr Vineet Nalawalla | Partner | View Profile |
 | Mr Manav Raheja | Partner | View Profile |
 | Mr Tushar B. Raut | Partner | View Profile |
 | Ms Natasha Sethna | Partner | View Profile |
 | Ms Kanisha Vora | Partner | View Profile |
Languages
English Hindi Gujarati Marathi BengaliDiversity
The Firm has been committed to ensuring Diversity and Inclusion from the beginning and has, at every stage of its growth, adhered to its principles. This Diversity has not only been observed at the cultural and racial level, but also based on gender and generation. For the Firm and the management, diversity is not just a concept, but a conscious attempt to bolster innovation, productivity and creativity.
A balanced male to female ratio is maintained in the Firm, including in the associates pool. To that end, even the diversity in partnership is a work in progress and it is most likely that within a year, the Firm should have a balanced diversity ratio in partnership as well. We also have a very diverse pool in terms of geography, race and ethnicity spanning across various cross-sections and communities of India.
It is a matter of great pride that the Firm has been able to create and nurture a unique, diverse and inclusive culture to help attract, retain and enable members of the Firm to become the best versions of themselves.
Notable Cases
The following two deals of the Firm have been named as ‘Deals of The Year – 2020’ by IBLJ.
Kedaara – Religare
Religare Health Insurance Co. Ltd. was a debt-loaded company prior to the capital infusion by Kedaara Capital, coupled with being embroiled in controversy owing to the legacy issues surrounding the parent company, which was a subject matter of a well-known allegation of fraud and wrongdoing against the Singh brothers of Ranbaxy. Accordingly, Veritas was confronted with the daunting task of safeguarding Kedaara by exercising extra caution and care conducting the risk assessment to ensure mitigation of Kedaara’s risk, and providing for adequate liability insulation by coming up with a viable structure considering the Byzantine regulatory and litigation issues of the company, making the due diligence a critical aspect. Religare being a listed company, was under constant and extensive regulatory scrutiny, making the risk assessment most essential for Kedaara. Also, given the pandemic situation, for the team to ensure timely actions with the remote working model was also challenging. Lastly, the deal entailed effective representations by the team to not only schedule the country’s first virtual consultation with CCI but also obtaining the first fast-track approval during the national lockdown.
It was the practical expertise in the field coupled with mature and prudent handling by the team that enabled the matter to effectively reach the finish line. For a firm of our size and age to be trusted with a matter of this kind of complexity and sensitivity, is nothing short of an achievement for the team.
Deloitte Litigation
This was a highly complex litigation involving various fora across the country. It entailed protecting our client Deloitte’s goodwill, reputation and credibility, and their basic right to practice as auditors in India. Veritas has been the trusted advisor to Deloitte since the inception of the investigations, and that for a firm our size and age was in itself commendable. This matter was particularly complicated given the several parallel proceedings and investigations, both civil and criminal, with the constant impending risk that a defence in any one could jeopardize the defence in the other. We appeared and succeeded before tribunals which we had never dealt with in the past.
Such intense and multiple proceedings against the role of auditors in relation to business failures is unprecedented. The implication and repercussions of the outcome of these litigations will have an effect on businesses as our client alone audits approximately 27% of the market cap in India. Unwillingness or hesitancy on the part of auditors to sign accounts, especially in listed Companies, can have a spiraling effect on the results, confidence of the investors and lenders, and ultimately on the stock market. Therefore, the various litigations are not only complex, but the outcome of these will be far-reaching not only on the economy, but also impact the profession of auditing as a whole. And it is a matter of great pride for us to be associated with a matter of such significance.
International Capabilities
Veritas Legal has marked its presence in the international arena in a very short period of 6 years. The team members are backed by rich experience and expertise from having worked at some of the leading law firms in India. Our management is also globally connected in different ways with our Founding and Managing Partner being a member of the Law Society (England & Wales), Entrepreneurs Organization, Young President’s Organization, amongst being highly regarded globally as a ‘Leading Lawyer’, thereby providing the Firm with that extended reach. Backed by over 28 years of rich cross-border experience, the senior management can boast of long-standing relationships with law firms and multi-nationals from across the world.
Over the years, our team has also established a global network of specialized attorneys and collaborated and worked with only the best in the respective fields. The Firm has created meaningful associations with several multi-nationals ranging across a wide array of industry sectors. Owing to the past experiences and associations of our team members, coupled with the complexity and scale of matters that our firm has been engaged in, we have also successfully developed good relationships with numerous law firms from different jurisdictions.
In fact, the Firm’s presence and achievements have been recognized consistently year after year, at the international level, through rankings by various reputable publications like Chambers, IFLR1000, Legal500 and Asian Legal Business.
The Firm has also been recognized and ranked by other noteworthy globally renowned publications like RSG, Asialaw, India Business Law Journal, Benchmark Litigation, Business World and LegalEra, coupled with being ranked in global league tables as well:
Awards & Recognition
RSG India Report
- Ranked 15 in the Top 50 India Ranking 2019.
- Ranked 27 in the Top 40 India Ranking 2017.
Asialaw Profiles
- Recognized as a ‘Recommended Firm’ for Corporate/M&A (India) in 2021.
- Named as a ‘Recognized Firm’ for Private Equity and Dispute Resolution (India) in 2021.
- Recognized as a ‘Notable Firm’ for Pharmaceuticals and Life sciences, Technology and Telecommunications in 2021.
- Recognized as a ‘Notable Law Firm’ for Real Estate in 2020 and 2021.
- Recognized as a ‘Notable Law Firm’ for Corporate/M&A in 2018 to 2020.
- Recognized as a ‘Notable Law Firm’ for Private Equity in 2019 and 2020.
- Recognized as a ‘Notable Law Firm’ for Dispute Resolution in 2020.
India Business Law Journal
- Recognized for ‘Corporate & Commercial’ in the Indian Law Firm Awards in 2019 and 2020.
- Recognized for ‘Private Equity and Venture Capital’ in the Indian Law Firm Awards in 2017 and 2018.
- Recognized as the ‘Best New Firm’ in the Indian Law Firm Awards in 2015.
Benchmark Litigation Asia-Pacific
- Ranked in Band − 4 for Commercial & Transactions in 2020.
- Recognized as a ‘Notable Firm’ for Construction in 2020.
- Recognized as a ‘Recommended Firm’ for White Collar Crime in 2020.
- Recognized as a ‘Notable Firm’ for Commercial and Transactions in 2019.
- Recognized as a ‘Notable Firm’ for Commercial and Transactions and Intellectual Property in 2018.
Business World
- Awarded ‘Pharma & Life Science Law Firm of the Year’ in the Business World Legal Leaders Awards 2019.
Legal Era
- Awarded ‘Most Promising Law Firm of the Year (3 years & above)’ in the Legal Era Indian Legal Awards 2019−2020.
Deal Maker Global Awards
- Awarded ‘Litigation Law Firm of the Year’ in 2018.
League Table Rankings
Bloomberg
- Ranked No. 8 by deal count for India Announced Deals in the Bloomberg Global M&A Legal Rankings 2020.
Venture Intelligence
- Ranked No. 11 by deal count in the Venture Intelligence M&A League Table 2020.
Lastly, the Firm has its office in Mumbai, thereby strategically placing itself at the epicentre of all the commercial activities in India. In this seamless landscape of operations, geography has never posed a hindrance in the Firm’s growth trajectory or reputation. The Firm has worked on matters involving a global reach in its core practice areas of Corporate / M&A, Private Equity, Dispute Resolution, Real Estate and Competition and consequently, prides in its diverse client base ranging from global corporate conglomerates and private equity and venture capital funds, to high net worth individuals and financial institutions, all ranging across industry sectors.
Client Testimonials
CLIENT: Head of Legal
COMPANY/FIRM: Pharmaceutical Company
TESTIMONIAL: Veritas Legal is “an emerging firm in the M&A space.” “They have key partners with experience in the key areas.”
CLIENT: Senior Legal Director
COMPANY/FIRM: Pharmaceutical Company
TESTIMONIAL: “The firm consists of a young team of professionals who are extremely dedicated to their clients and have in depth knowledge of the law as well as the facts. The firm is able to understand the client’s requirements, give practical advice and adapt to the situation at hand. Extremely nimble and always on hand thereby instilling a great level of confidence in the client.”
CLIENT: Legal Head
COMPANY/FIRM: Private Equity
TESTIMONIAL: ‘Veritas provides strategic advice and has business acumen. Further, it is able to deliver within stringent timelines with high quality advice and drafting. It also has strong negotiation skills.’ ‘The firm is very responsive, has strong bench strength and well-seasoned professionals. Access to partner time and attention on matters strengthens clients’ confidence in working with the firm.’
CLIENT: Legal Counsel
COMPANY/FIRM: Retail Conglomerate
TESTIMONIAL: Veritas Legal lawyers have ‘exceptional knowledge of all legal issues and ability to provide a ‘personalised service’ to their clients.
Interviews
Abhijit Joshi, Founding & Managing Partner
Abhijit Joshi explains how the firm is constantly evolving to cater to clients’ changing needs.What do you see as the main points that differentiate Veritas Legal from your competitors?
Given that the Indian market is not institutionalized and still promoter-driven, the personalization is important in this relationship-driven market. Indian regulations are not black and white, and require exercise of judgement. In these circumstances, it is the experience from being associated with the profession for almost 3 decades that helps in the diagnosis. Admittedly, the solution should be well founded in law, but you need to be a “deal maker” not a “deal breaker”.
Veritas is boutique in size if you only factor the 3 main practice areas of the firm, but we are full service in our client offerings. As a result, also, we are able to cross-engage teams from the different practice areas to advise a single client.
Our average non-Partner PQE is around 5 years, which we believe, is higher than the market and therefore, we believe that we provide more senior hands-on bandwidth to clients than what you averagely see in the market.
Which practices do you see growing in the next 12 months? What are the drivers behind that?
I see practices in Infrastructure and Alternate Energy spaces growing. I also see that the Litigation practice area will grow with the Courts, after a long time, slowly coming back to normal.
What’s the main change you’ve made in the firm that will benefit clients?
I think more than change, we have remained consistent in our quality, delivery and level of experience to the client on a hands-on basis.
Is technology changing the way you interact with your clients, and the services you can provide them?
Yes and No.
Yes, because it provides the advantage of speed and efficiency of communication coupled with greater outreach to global clients.
No, because the personal touch which is the most important contributing factor to relationship building is getting lost in translation.
Can you give us a practical example of how you have helped a client to add value to their business?
More than an example, we have seen one thing playing out all through the pandemic. Our ability and willingness to see the matter from a commercial perspective, and thereby giving solutions that are founded in law, with the practical viability of the Indian Court systems and their limitations for quick resolution, is something, which has been appreciated by multiple clients. With many clients, we have not only given the advice, but actively participated in implementation of the advice to take the proposition to its logical end.
Are clients looking for stability and strategic direction from their law firms – where do you see the firm in three years’ time?
Yes, they do. The continuation of teams on matters is important for a client, as the teams may have understood their ways of doing business. This is true for almost all the clients whether strategic or otherwise. In a market, which is very volatile in terms of talent movement, I think the clients will be looking at the ability of the Firm to stabilize their resources over medium to long term.