One of the preeminent law firms in India for restructuring and insolvency matters, Shardul Amarchand Mangaldas & Co is regularly turned to by notable banks and financial institutions, trading and finance businesses, and stressed asset funds seeking assistance with complex, high-value matters. The practice has a comprehensive offering which spans insolvency resolution processes, related disputes, and distressed acquisitions, as well as liquidations, wind downs, and debt recovery. Heading up the department in New Delhi is Shardul Shroff, who stands out for his considerable experience advising on insolvency processes, resolution plans, and insolvency proceedings before the NCLT. He is supported by insolvency resolution process expert Anoop Rawat, and disputes authority Misha, who concentrates on litigation and enforcement proceedings arising from restructuring and insolvencies. In Mumbai, Veena Sivaramakrishnan is a key contact in the group and focuses on debt and equity restructurings, wind downs, and setting up liquidity trusts. She works alongside insolvency litigation specialist Ameya Gokhale and Soummo Biswas, who regularly assists with non-stressed restructurings. Other notable practitioners in the Delhi office include Saurav Panda, Sagar Dhawan, and Vaijayant Paliwal.
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Profile
Work Department
Banking & Finance, Restructuring and Insolvency
Position
Mr. Shardul S. Shroff is the Executive Chairman at the Firm. He has over 40 years of experience in General Corporate, Mergers & Acquisitions, Insolvency and Bankruptcy, Securities Law, Disinvestment & Capital Markets. Mr. Shroff heads the Insolvency & Bankruptcy practice at the Firm. He is a leading authority on matters related to Corporate Governance, Mergers & Acquisitions, Government Regulation and Bankruptcy & Insolvency Law. He has been instrumental in developing these practice domains in the Firm.
Widely regarded as a pioneer in the field of Corporate Law, Mr. Shroff has participated in the training and drafting of several important economic legislations and company law reforms in India. Most recently, he has been a member of the Insolvency Law Committee, constituted by the Government to review the implementation of the Insolvency and Bankruptcy Code under the Chairmanship of Mr. Injeti Srinivas. Mr. Shroff was also a member of the Injeti Srinivas Committee constituted for decriminalization of offences under the Companies Act and the Injeti Srinivas Committee for cross-border insolvency. Under Mr. Shroff’s leadership, the Firm has been recognised as ‘Best in Insolvency’ at the Asialaw’s Asia Pacific Dispute Resolution Awards 2018.
Mr. Shroff has been on a number of other high-powered committees appointed by the Government of India including the JJ Irani Committee for amending the Companies Act, the Expert Committee on maintenance of Cost Records and Cost Audit in 2014, the Eradi Committee involved in the insolvency provisions of the Companies Act, 1956, the second Naresh Chandra Committee appointed to look into aspects of SMEs and simplification of Company Law and the Valuation Committee under Mr. Shroff’s Chairmanship.
As a preeminent expert of his field, Mr. Shroff has been appointed as an independent director on significant boards of Indian companies. He is a member of the US-India Business Council, Vice Chair of the Corporate Counsel Committee of the IPBA Council, the Union Internationale Des Advocats, and the Indo-German Chamber of Commerce. Mr. Shroff has been re-elected as the Chairman of the CII National Committee on Legal Services and Arbitration. He is also a Member of the CII National Council on Services and the CII Task Force on the Ease of Doing Business, 2017-2018. With regard to FICCI, Mr. Shroff is the Chairman of the Committee on Stressed Assets and a member of the Capital Markets Committee. Mr. Shroff has also been appointed as the Senior Vice President on the Society of Indian Law Firms (SILF).
Shardul has been consistently rated as a leading lawyer by several international fora and publications, including the Who’s Who Legal, AsiaLaw, Chambers and Partners, Legal 500 and Euromoney etc.
International Financial Law Review (IFLR) 1000, 2022 – The Guide to the World’s Leading Financial Law Firms notes Shardul as a market leader in the areas of Mergers and Acquisitions, Restructuring and Insolvency, Energy and Infrastructure, Project Development, Banking, Project Finance, Capital Markets: Debt, while Chambers and Partners, 2022 views Shardul as an Eminent Practitioners in B&F & Restructuring/Insolvency and & Star Individual in Corporate & M&A space who is known for his long-standing experience handling joint ventures, takeovers, divestments and commercial contracts.
Among other numerous recognitions, Shardul is also a recipient of the National Law Day Award from the President of India for his unique contribution to the field of corporate law and leadership in its practice, and for being instrumental in advancement of India’s corporate law practice at international standards. He has been recognised as one of “The Game Changers of India, 2018” by The Economic Times.
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Languages
English, Hindi, Gujarati
Memberships
Supreme Court Bar Association; Delhi Bar Association; Inter-Pacific Bar Association (IPBA); Advocate on Record, Supreme Court of India.
Education
B.Com (Hons.), Sydenham College Mumbai; L.L.B., Government Law College, Mumbai
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Testimonials
Collated independently by Legal 500 research team.
‘Veena Sivaramakrishnan stands out.’
'This is a market leading team which is working on the most complex restructuring and insolvency matters in India.'
'The team is very hard working and the are responsive out of hours.'
'Very client focused and helpful, advising on market developments as well as particular transactions.'
'Veena Sivaramakrishnan - very helpful and aware of market positions. Extremely reasonable costs.'
Key clients
- Resolution Professional of KSK Mahanadi Power Company Limited Pembroke Aircraft Leasing 11 Limited Jackson Square Aviation Ireland Limited Bluesky 19 Leasing Company Limited Bluesky 31 Leasing Company Limited DZ Bank AG Deutsche Zentaral – Genossenschaftbank Brihanmumbai Municipal Corporation FidelisWorld Metis Limited Committee of Creditors of Hindusthan National Glass & Industries Limited Promoter group of Think and Learn Private Limited Resolution Professional and liquidator of Siddhi Vinayak Logistics Limited HDFC Bank Limited Committee of Creditors of Bhatia Coke & Energy Limited Ozone Realtors Private Limited Edelweiss Asset Reconstruction Company Limited Resolution Professional of JAL Deloitte India Insolvency Professionals Resolution Professional of Reliance Communications Limited, Reliance Telecom Limited, Reliance Communications Infrastructure Limited, and Reliance Infratel Limited Torrent Investments Private Limited. Committee of Creditors of Sinnar Thermal Power Limited Resolution Professional of Lavasa Corporation Limited Duraton Cement JC Flowers Asset Reconstruction Private Limited UV Asset Reconstruction Private Limited Committee of Creditors of Metalyst Forging Limited Resolution Professional of Metenere Limited Interim Resolution Professional of Hotel Horizon Private Limited Resolution Professional of Majestic Hotels Limited Monitoring Professional of Bhushan Power & Steel Ltd. Jindal Steel Odisha Limited Administrator of AVIOM India Housing Finance Private Limited Committee of Creditors of Vadraj Cements Private Limited led by Punjab National Bank Brookfield Asset Management
Work highlights
Advising the resolution professional on the corporate insolvency resolution process of KSK Mahanadi Power Company Limited.