Veritas Legal > Mumbai, India > Firm Profile

Diversity

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.