Indian Law Firm Awards 2024

Recognising and rewarding excellence in the legal profession. By Chandu Gopalkrishnan

The buzz surrounding India continues to grow, with strong interest from overseas investors and accelerating economic expansion across consumption, manufacturing and technology. After consolidating in 2023, India saw a significant pickup in takeover activity in the first three months of 2024, with 197 deals totalling USD9.4 billion, the highest quarterly volume in almost two years. Almost 72% of transactions were domestic, with an increase in the average deal size. These included the USD2 billion acquisition of ATC Telecom Infrastructure by Brookfield Asset Management-sponsored Data Infrastructure Trust, a deal value expected to reach around USD2.5 billion by the time it closes.

Driven by sectors such as technology and renewable energy, this positive momentum in India’s M&A activity is underpinned by the abilities and expertise of the reputed law firms behind each deal. If the Q1 data is any indicator, 2024 will prove to be a year of outperformance for law firms associated with the country.

Celebrating their contribution, India Business Law Journal’s 2024 Law Firm Awards recognise and reward the crème de la crème of the country’s legal profession in 39 categories, including Law Firm of the Year, Best Overall Law Firms and Best New Law Firms.

While the country’s bigger firms understandably garner recognition from such awards, we also acknowledge the significant presence of smaller and mid-sized firms. These often display remarkable legal proficiency, business acumen and competitive pricing, offering a reliable and viable option for both Indian and international corporations seeking reputable legal guidance and inventive solutions. Such firms prioritise partner engagement, specialise in specific practice domains and operate efficiently, enhancing their appeal to clients.

Determining the winning firms in each category was a painstaking process that involved poring over extensive lists of nominations and commendations from in-house legal advisers, senior corporate executives and legal professionals worldwide, along with hundreds of submissions from Indian law firms. A detailed description of the methodology is below. Many contributors to our research are quoted in the coverage that follows; others gave their endorsements anonymously.

METHODOLOGY – JUDGING THE AWARDS

India Business Law Journal has been presenting its annual Indian Law Firm Awards since 2009. The awards are determined through a selection process involving nominations from hundreds of Indian and international companies and law firms. The process includes reference checks with law firm clients, evaluation of qualitative data from in-house counsel and legal professionals, and peer assessments by Indian law firms.

Between posting the nomination form on our website in February and the end of March, we received testimonials from hundreds of Indian and global companies as well as international law firms. These included: Adani Enterprises; Aditya Birla Capital; Advik Hi-Tech; Akasa Air; AKB Group; Alleima; All India Gem & Jewellery Domestic Council; Allyventure; Alstom; Alvison Apparels; Amber Enterprises; Ankurit Capital; ANS Constructions; Apraava Energy; Arch Pharmalabs; Asian Cancer Institute; Atlantic Global Shipping; Axis Capital; Bahwan CyberTek; Bain Capital; Bala Vinayaka Vidyaniketan; Barcode Experiential Marketing; BNP Paribas; Canara Bank; Christ Academy Institute of Law; CityMall; CloudTara Technologies; Clyde & Co; Continental Builders and Developers; Credochain Technologies; CRISIL; Daimler; Denso; Elhanan Management Services; Ernst & Young; Essens Renewable; Ferrero; Foley Hoag; Four Seasons Hotel; Frost Brown Todd; Gartner; GlaxoSmithKline; Gujarat State Road Development Corp; Harvard Business Publishing; Havas Media; Hero Enterprise; ICICI Securities; Intercontinental Consultants & Technocrats; Jabsons Foods; Katuri Medical College & Hospital; King & Spalding; Kirkland & Ellis; Knight Frank; KPMG; Krishna Agrotech; Larsen & Toubro; LIC Housing Finance; Loeb & Loeb; Lupin; Macquarie; MAHLE Holding; Major League Baseball; Mastercard; Meinhardt; MEP Infrastructure Developers; Momentum Controls Software and Services; Mondelez; Mukunda Foods; Netway; Nippon Koei; Nirvana Venture Advisers; Norton Rose Fulbright; Peptech Biosciences; Philips; Piramal; Precious Shipping Public Co; Rediff.com; Refyne Tech; Riverstone Capital; Saint-Gobain; SAMHI Hotels; Sanmar Shipping; Sapthagiri Medical College; Seraphic Advisers; Shadowfax Technologies; Sidley; Skoda Auto Volkswagen; Sky Telecom; SNV Aviation; STS Global; Sula Vineyards; Sumeet Research & Holdings; Sumitomo Chemical; Synokem Pharmaceuticals; Tata Consultancy Services; Tata Power; The Federation of Indian Publishers; Titan Biotech; TM Ventures; Troutman Pepper Hamilton Sanders; Trowers & Hamlins; United Breweries; Universal Engineers; Vijay Mining; VIS International Logistics; White & Case; XZ Technologies; Zoetis; and many more.

Indian law firms were ineligible to make direct nominations. Instead, all Indian law firms were encouraged to provide submissions supporting their candidacy for the awards. These submissions detailed achievements in key practice areas and included peer assessments.

Following the receipt of nominations and submissions, the editorial team at India Business Law Journal conducted background research and reference checks for all the nominees.

All Indian law firms are automatically eligible to be considered for the awards process. As always, there are no entry fees, submission charges or any other requirements to enter. Nor does India Business Law Journal host an awards ceremony that obliges winners to pay to attend.

The awards represent a transparent selection process, incorporating feedback and insight from legal professionals and clients globally. There are seven winners of equal standing in each of the 37 practice-area categories, as well as three Best New Law Firms and one Law Firm of the Year. The winners in each category are listed alphabetically, not in rank order, ensuring equal recognition for all recipients within the same category.

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LAW FIRM OF THE YEAR

A winner in 17 of the award categories, Shardul Amarchand Mangaldas & Co, or SAM, takes the top honour of Law Firm of the Year.

SAM consistently earns recognition as one of India’s leading legal firms and has expanded to approximately 800 attorneys, with offices in Mumbai, New Delhi, Bengaluru, Gurugram, Ahmedabad, Kolkata and Chennai.

This firm is lauded for its track record of delivering inventive and pragmatic resolutions across a wide range of practice areas, encompassing corporate law, mergers and acquisitions, dispute resolution, competition law, intellectual property rights, and project management and financing.

A pioneer of digital initiatives, SAM has introduced innovative tools such as a proprietary online arbitration portal and has been a proactive adopter of productivity-enhancing technological applications such as Litera content companion, Luminance and MS Planner.

Integrating these with established platforms such as SAM Hub, CLEmentine, MS Dynamix, MS Teams and iManage have transformed internal processes, resulting in increased efficiency and improved client service.

A notable innovation, SAMWise, acts as a centralised knowledge hub, consolidating content from both internal and external sources. This comprehensive platform empowers lawyers with immediate access to precedents, legal updates, research papers and thought leadership articles.

Its dynamic Enterprise Search Solution enables seamless navigation, promoting a culture of knowledge sharing and ongoing learning. Notably, the firm’s performance appraisal process includes assessments of knowledge contributions, underscoring its dedication to innovation and excellence.

The firm’s commitment to excellence has earned it recommendations from esteemed professionals in the legal and business communities.

Cori Lable, a Hong Kong-based partner at Kirkland & Ellis, says “SAM is a firm of general all-around excellence. [It is] particularly strong in the private equity space.”

Nistha Soonee, assistant general counsel for Slice, an Indian fintech company, praised SAM’s lawyers for their “extremely business-focused” approach and in-depth understanding of the evolving banking landscape, especially from a fintech perspective. She highlighted their hands-on approach and comprehensive advisory services, making it a preferred choice for legal counsel.

Stuti Tandon, senior legal counsel at Apraava Energy, emphasised SAM’s pivotal role in facilitating numerous deals across various sectors, including renewables, thermal, transmission and advanced metering projects. “Their adept grasp of legal intricacies, combined with their comprehensive market knowledge and hands-on experience, has significantly contributed to our organisational growth,” Tandon says.

SAMHI Hotels general counsel Tanya Chakravarty shared her positive experience of working with SAM during the hospitality company’s listing process. She highlighted the firm’s professionalism, problem-solving skills and deep expertise, emphasising that her company could not have asked for a better team.

As in previous years, SAM started 2024 with a busy first quarter. Notable deals have included Tata Technologies’ joint venture with BMW, the multi-phase investment and acquisition deal between Advent International and the Apollo Hospitals group, ITC Infotech’s takeover of Blazeclan Technologies, and Bharti Hexacom’s IPO.

In addition to professional accomplishments, the firm’s robust pro bono practice demonstrates its commitment to social responsibility. Through providing free counselling to underserved clients and advocating for legislative reforms, SAM displays ethical leadership and community involvement, setting an example for social impact within the legal sector.

BEST OVERALL LAW FIRMS

Shardul Amarchand Mangaldas topped the leaderboard, but it faces formidable competition from India’s other top law firms.

AZB & Partners has been a pre-eminent force in India’s legal landscape since the firm was founded two decades ago. It now boasts a team of around 600 professionals, including well over 100 partners, at its principal office in Mumbai and branches in Bengaluru, Gurugram, New Delhi and Pune.

Led by Zia Mody, co-founder and managing partner, AZB is renowned for its commitment to delivering best-in-class legal solutions.

AZB offers a comprehensive range of legal services across various practice areas, including arbitration, banking, capital markets and technology. The firm’s exceptional capabilities have earned it praise from clients and industry leaders alike.

Amit Chandra, Bain Capital’s India chairman, praises AZB as “highly dependable” and highlights the exemplary leadership of Mody and her fellow co-founders, Ajay Bahl and Bahram Vakil, along with standout partners such as Anil Kasturi and Ashwath Rau.

Similarly, Amit Aggarwal, a senior vice president at Hero Enterprise, commends the firm’s practical approach, knowledgeability and responsiveness.

“AZB & Partners has some of the finest lawyers in the country and the teams are very knowledgeable, practical and solution-oriented and have the ability to cut through complex issues very quickly. We are very happy with the support and have always found the firm solution-oriented, balanced and responsive,” he said.

In 2023, AZB showed its prowess in facilitating several high-profile transactions. Notably, the firm advised Larsen & Toubro (L&T) on its first share buyback, valued at around USD1.2 billion. Led by partner Lionel D’Almeida, AZB provided legal counsel to L&T, demonstrating its ability to navigate complex regulatory frameworks and deliver strategic solutions. Additionally, the firm played a key role in Abu Dhabi Investment Authority’s USD500 million investment in eyewear retailer Lenskart, with partners Darshika Kothari, Kunal Kumbhat, and Vasudha Asher leading the advisory team alongside Allen & Overy.

AZB also advised Warburg Pincus on its acquisition of a 92.25% stake in Vistaar Finance, a USD250 million deal that marked one of the largest investments in India’s financial services sector.

AZB & Partners continues to set the standard for legal innovation and excellence in India, earning the trust and respect of clients and industry peers alike.

Cyril Amarchand Mangaldas, or CAM, a prominent law firm offering comprehensive legal services, is recognised for its expertise in five key practice areas: corporate law, finance, dispute resolution, market regulations, and technology solutions. Distinguishing itself, CAM maintains a unique public policy division specialising in policy analysis and driving reforms across government, industry and business sectors.

CAM is one of the elite group of Indian law firms to have crossed the 1,000-lawyer threshold, the others being Khaitan & Co and Trilegal. Recent additions to CAM’s team include Manmohan Juneja, former director general of corporate affairs at the Ministry of Corporate Affairs, who has joined as a senior adviser within the corporate practice. The firm has also expanded its partner roster across various practice areas, reaffirming its commitment to providing diverse expertise and exceptional client service.

CAM continued to execute big-ticket deals in 2023. Noteworthy among these were Bajaj Finance’s INR88 billion (USD1 billion) qualified institutional placement, Cube Highways’ INR52.3 billion private placement, and Cholamandalam Investment and Finance’s INR40 billion equity offering. CAM played a crucial role in advising Bajaj Finance on its fundraising, Cube Highways (alongside Davis Polk & Wardwell) on its landmark placement, and Cholamandalam Investment (with partners Vijay Parthasarathi and Yash Ashar leading) on its significant equity offering.

Tata Technologies’ INR30.4 billion IPO, a milestone for Tata Group, further underscored CAM’s prominence in the legal landscape. CAM, in collaboration with Cravath Swaine & Moore, guided Tata Technologies through this historic offering, which involved selling 15% of the company’s capital. This IPO positioned Tata Technologies as one of the year’s top performers, with partners Yash Ashar and Devaki Mankad from CAM providing invaluable counsel throughout the process.

CAM’s stellar reputation within the legal community is evidenced by its impressive rankings. Recently, the firm has extended its global presence with the establishment of an office in Abu Dhabi, the United Arab Emirates, complementing its existing network of six offices in India and offshore branches in IFSC (GIFT City) and Singapore.

The integration of technological advancements is integral to CAM’s operations, with a strategic adoption of AI tools such as Kira, Ment, Casemine and Litera. Moreover, the firm actively explores emerging generative AI technologies, recognising their potential to optimise internal processes and elevate client service standards.

“While any of the top three to four firms can get a job done well, one of the distinguishing features of CAM remains Cyril’s personal touch, ability to innovate and think out of the box,” Chandra, Bain Capital’s India chairman, enthused.

CAM demonstrates its commitment to corporate social responsibility through philanthropic initiatives and a robust pro bono practice. Notable pro bono representations include advocacy for organisations including People for Animals and the Federation of Indian Animal Protection Organisations, both illustrating the firm’s dedication to advancing social justice and environmental causes.

By combining legal excellence, technological innovation and a strong commitment to social responsibility, CAM emerges as a formidable presence in the legal landscape, both domestically and internationally.

IndusLaw has solidified its position as a premier full-service Indian law firm since its foundation in 2000, now boasting a team of 450-plus professionals, including more than 65 partners, across key offices in Bengaluru, Chennai, Gurugram, Hyderabad, Mumbai and New Delhi

Renowned for its comprehensive legal services encompassing diverse practice areas such as aviation, banking, corporate governance, intellectual property, and technology, IndusLaw ranks among the top law firms in the country, catering to a broad spectrum of international and domestic clients.

In 2023, IndusLaw continued to build on its track record for excellence with several high-impact transactions across various sectors. Notably, the firm advised Yulu, an e-bike company, on securing a significant INR730 million loan facility from the US International Development Finance Corp. The funds were to enable Yulu to procure 20,000 electric bikes for rental deployment in India, furthering its mission of promoting green mobility and reducing carbon emissions.

IndusLaw also played a pivotal role in facilitating Warburg Pincus’ landmark USD250 million acquisition of a 92.25% stake in Vistaar Finance, a non-banking financial services company. The transaction marked one of the largest investments in India’s financial services sector by a global private equity firm, provided exits for existing investors while positioning Vistaar Finance for accelerated growth and expansion.

Additionally, IndusLaw advised Prosus Ventures in Chifu Agritech’s USD46 million series C funding round, led by Singapore’s sovereign wealth fund GIC. This funding initiative underscores IndusLaw’s proficiency in navigating complex investment landscapes and facilitating strategic transactions to drive value for its clients.

Client testimonials further attest to IndusLaw’s service and expertise. Anand Narayanan, founder of online real estate exchange Alt DRX, said he prefers the firm for its “deep domain understanding in fintech, problem-solving approach … approachable, friendly partners and deep connections with industry experts”.

Texas-based partner at Frost Brown Todd, Bobby Majumder, praised IndusLaw’s expertise and responsiveness. “IndusLaw has some of the best subject matter experts in the country. They are immensely responsive and creative in their solutions.”

A regular in IBLJ’s awards features, JSA brings more than three decades of legal excellence to the table. The firm’s team of 450 professionals includes 128 partners across its principal office in Gurugram and strategic locations in Ahmedabad, Bengaluru, Chennai, Hyderabad, Mumbai and New Delhi.

Specialising in core practice areas of corporate, disputes and finance, JSA is renowned for its client-centric approach and exceptional expertise, as well as a commitment to social responsibility.

In 2023, JSA continued to make waves in the legal arena through its involvement in transactions that shaped India’s business landscape. The firm played a key role in Temasek’s USD2 billion acquisition of a 41% additional stake in Bengaluru-based Manipal Health Enterprises, making Singapore’s sovereign wealth fund the majority owner. Led by partner Vikram Raghani, JSA provided strategic counsel to Temasek, facilitating one of the largest PE transactions in India’s healthcare sector to date.

The firm displayed its strength in the media and entertainment sector by advising Paramount Global on the sale of its stake in Viacom18 Media to joint-venture partner Reliance Industries. This transformative deal, led by partner Lalit Kumar, underscores JSA’s ability to navigate complex transactions and deliver optimal outcomes for its clients, even amid evolving market dynamics.

Client testimonials further attest to JSA’s exceptional service and expertise. Jatinkumar Jalundhwala, joint president (legal) of Adani Enterprises, commended the firm’s transparent and accountable management team, highlighting its role in institutionalising and professionalising law firm ownership and management.

“They are seen as the law firm that heralded a paradigm change in India in institutionalising and professionalising law firm ownership and management. With a keen focus on learning and specialised practices, they keep in touch with the changing environment in which our clients operate,” he said.

Similarly, Vijay Kamath, head of legal at Skoda Auto Volkswagen India, praised JSA saying, “we have good experience [with them] in commercial litigations”, while Tanya Fickenscher, vice president and deputy general counsel at Major League Baseball, USA, lauded the firm’s superior work product and deep knowledge of the law and marketplace.

After more than a century, Khaitan & Co stands as a beacon of legal excellence, with more than 1,000 professionals, including 206-plus partners and directors, across its principal office in Mumbai and other strategic locations such as Bengaluru, Chennai, Gurugram, Kolkata, New Delhi, Noida and Singapore.

Their practice areas cover everything from anti-corruption and arbitration to technology and white-collar crime, Khaitan & Co has cemented its position as one of India’s leading full-service law firms.

During the past three years, Khaitan & Co has experienced remarkable growth, marked by a 20% annual revenue increase, substantial expansion in headcount and an almost 50% rise in overall profits per equity partner. The firm’s strategic investments in expansion and talent acquisition have been pivotal, with senior professionals assuming key roles in practice management, innovation, and risk and audit functions.

Subsequently, the firm has witnessed a notable shift towards premiumisation in its client base, evidenced by a more than 50% increase in revenue generated from its 10 biggest clients during the past three years.

In the past year-and-a-half, Khaitan & Co has capitalised on innovative technologies to maintain a competitive advantage. These include the rollout of ask.KAI virtual assistant that offers lawyers a secure avenue to explore ChatGPT functionalities, allowing for document inquiries and information extraction via conversational Q&A.

Through the integration of Generative AI Support into KCOSearch, the firm has bolstered its search capabilities, amalgamated data into an integrated Enterprise Knowledge Platform, and devised an Expert Finder system to pinpoint internal legal authorities.

Embracing technologies such as MikeDocReview for document review and Gavel for document streamlining the firm underscored its dedication to document integrity and automation.

The firm’s commitment to innovation and client-centric solutions is echoed in glowing testimonials.

Arjun Srivastava, deputy general manager at pharmaceutical company Lupin recommends Khaitan & Co because of the firm’s “simple street-smart approach, and practical advice to clients for resolving their problems. Also, their litigation team headed by Raj Panchmatia and Peshwan Jehangir is extremely dedicated and committed, and go out of their way to help out their clients”.

Similarly, Majumder from Frost Brown Todd lauds Khaitan & Co for its talent, value and responsiveness, while Jatinkumar Jalundhwala from Adani Enterprises praises the firm’s proactive approach, exceptional client service and expertise across various sectors.

Recent highlights of Khaitan & Co’s prowess include representing Antrix Corp in arbitration proceedings before Delhi High Court and the Supreme Court of India. Additionally, the firm advised Cerberus Capital Management and Canyon Capital Advisors in a USD1.7 billion debt sale by Goswami Infratech, the largest deal by value in India’s private credit space in 2023.

Khaitan & Co also played a major role in facilitating a joint venture between Digital Edge DC, National Investment and Infrastructure Fund, and AGP’s Assetz Property Group to develop a pan-India portfolio of hyperscale data centres.

Moreover, the firm was legal counsel to Brookfield Asset Management in the sale of two large commercial assets in Mumbai and Gurugram totalling 6.5 million square feet, valued at around USD1.4 billion. Khaitan & Co also acted in the USD375 million fundraising for Mahindra Electric Mobility from British International Investment and Temasek, a landmark deal in India’s EV space.

The firm also achieved a significant victory for Gameskraft Technologies, securing interim relief against the highest-yet tax demand in Indian history before the Karnataka High Court.

Trilegal has evolved into a powerhouse in India’s legal realm during the past two decades. Founded in 2001, the firm has a formidable team of more than 1,000 professionals, including 104 partners, strategically positioned across Mumbai, Bengaluru, Gurugram and New Delhi.

Renowned for its comprehensive legal services spanning diverse practice areas such as arbitration, banking, capital markets and technology, Trilegal has garnered widespread acclaim for its unwavering commitment to excellence.

In 2023, Trilegal carried out a series of important transactions. The firm played a pivotal role in Chifu Agritech’s USD46 million series C funding round, orchestrating Vegrow’s strategic financing initiative. This funding round, led by Singapore’s sovereign wealth fund GIC, represented a significant milestone for Vegrow and involved substantial participation from existing investors Prosus Ventures, Matrix Partners India, Elevation Capital, and Lightspeed. Trilegal’s expertise ensured seamless execution, positioning Vegrow for further growth and expansion in the competitive agritech market.

Trilegal also spearheaded Temasek’s acquisition of a controlling stake in Manipal Health Enterprises, valued at an impressive USD2 billion. This landmark transaction marked one of the largest PE transactions in India’s healthcare sector, underscoring Trilegal’s proficiency in handling complex M&A deals. The acquisition provided a partial exit to alternative asset management firm TPG and a full exit to National Investment and Infrastructure, showcasing Trilegal’s ability to navigate intricate deal structures and deliver optimal outcomes for its clients.

In addition, Trilegal proved its adeptness in navigating intricate regulatory landscapes, facilitating Apax Partners’ acquisition of a substantial minority stake in IBS Software, valued at USD450 million. The firm was instrumental in securing regulatory approvals and facilitating seamless transactions across multiple jurisdictions, solidifying its position as a trusted adviser in complex deal-making scenarios.

Client testimonials serve as a testament to Trilegal’s service and expertise. Cori Lable from Kirkland & Ellis lauded the firm’s commercial acumen, while Pallavi Hardas from Axis Capital commended its outstanding work.

Ram Kumar of Ram Kumar & Associates lauded Trilegal’s legal team as the finest in the country, emphasising its depth of expertise and pragmatic approach. Shelly Kohli, chief legal & compliance officer of United Breweries, praised Trilegal’s diverse practice areas, subject matter expertise and engagement.

BEST NEW LAW FIRMS

In this category, our editorial team evaluates law firms founded within the past two years. This year, we have selected three winners, reflecting the robust competition and emerging talent in the Indian legal market.

Founded in October 2023 by seasoned legal experts HS “Bobby” Chandhoke and Sudhir Sharma, C&S Partners is an emerging boutique law firm committed to delivering focused and solution-oriented legal services. The founders bring expertise and insight garnered through more than three decades of hands-on experience.

C&S Partners prides itself on its ability to identify and mitigate risks for clients, providing prompt, detailed and high-quality legal services. Additionally, C&S Partners has established a robust network of associates across India, enabling them to offer comprehensive and efficient legal services nationwide. The firm’s dedication to client satisfaction positions it as a formidable player in the legal landscape.

Vritti Law Partners is an emerging law firm that offers innovative and comprehensive legal advice across various domains, from M&A and private equity to data security and privacy and communications and media. The reputation of the founders played a large role in getting things right for this newcomer.

Arvind Ramesh, with more than 18 years of experience, specialises in cross-border and domestic mergers and acquisitions, private equity investments, and complex insurance transactions. He excels in devising strategies for large insurance companies and representing them before regulatory authorities. Debashree Dutta brings 15 years of banking and finance law expertise, handling infrastructure project finance, corporate lending, structured finance, real estate finance, fintech, and corporate debt restructuring and insolvency. Her practical approach ensures tailored legal solutions to complex financial matters.

Roopali Singh, a litigation and disputes expert with almost 20 years of experience, specialises in international and domestic arbitrations, corporate litigation, restructuring, insolvency, and white-collar crime. She has successfully managed high-stakes cases across various sectors and major courts. Together, the partners’ combined knowledge and strategic insights position Vritti Law as a rising star committed to redefining legal excellence.

Based in New Delhi, YVR Law Offices specialises in intellectual property rights, information technology law, contract drafting, startup advisory, corporate advisory, real estate and property laws, family law, tax matters, and criminal law. Founded by seasoned professionals, the firm is quickly establishing a reputation for excellence and innovation.

Founder Yashvardhan Rana is experienced in IP prosecution and transactional practice. His expertise ranges from registrability analysis and risk management to providing legal opinions on trademark clearance and protection strategies. Since 2013, Rana has been assisting individuals, small businesses, Fortune 500 companies, and top FMCGs in India with filing new trademark and copyright applications and maintaining their trademark portfolios worldwide.

Advocate Siddhant Mohanty is a criminal law expert with YVR, who has extensive experience practising across Odisha. With an LLM in criminal justice from Queen Mary University of London, Siddhant has successfully conducted trials and achieved acquittals in cases involving dacoity, attempted murder, narcotics, the Indian Explosives Act, and POCSO. He also runs the full-service law office, SM Legal Advocates and Solicitors.

Mallika Bhasin Rana, an adviser at YVR, is a manager for technology platforms at Social Alpha. She handles government relations and community engagement programmes. With a background in economics and finance, Mallika combines her skills with a passion for social impact, bringing a unique perspective to the firm’s advisory services.

ANTI-CORRUPTION & WHITE-COLLAR CRIME

Three of our Best Overall Law Firms are listed in this category. We focus on the specialist, mid-sized and boutique firms that hold deep experience in this area.

Bharucha & Partners stands as a beacon of professional ethics in the Asia-Pacific legal landscape. With bases in three cities, the firm hosts a team of 12 partners and more than 100 associates.

Central to Bharucha & Partners’ expertise is its proficiency in corporate and commercial practice, mergers and acquisitions, commercial litigation, and international and domestic arbitration. Additionally, the firm is recognised for its specialised knowledge in areas such as investment funds, governance, ethics, anti-corruption, and white-collar crime. Clients benefit from the firm’s advisory services on domestic and cross-border issues across a diverse array of sectors, including banking and finance, energy, fintech, real estate and technology.

Led by distinguished figures such as MP Bharucha, Alka Bharucha, DP Singh, and Justin M Bharucha, Bharucha & Partners has garnered a stellar reputation for its commitment to excellence and client satisfaction. Its client base includes leading international and Indian companies, banks, financial institutions and funds, including the Aditya Birla Group, General Motors, ITC, Sony Pictures Network India, and Vodafone Idea among others.

Law Offices of Panag & Babu is renowned for its expertise in business crimes, particularly in compliance, investigations and white-collar crime defence. With offices in New Delhi and Bengaluru, the firm boasts a multidisciplinary team of India’s top legal talent, offering sector-agnostic services to clients worldwide.

Panag & Babu’s compliance, investigations and white-collar crime defence practice stands out as India’s largest business crime team, equipped with pan-India capabilities. Led by Sherbir Panag, the firm provides comprehensive advisory services, ranging from internal investigations and compliance advocacy to crisis management and defence against government enforcement actions.

Panag brings a wealth of experience in defending multinational companies and conducting internal investigations involving criminal and regulatory proceedings. His expertise spans various areas of white-collar crime, including allegations of bribery, financial fraud, regulatory violations, and corporate governance breaches.

Founded in 2005, MZM Legal is a prominent full-service law firm based in Mumbai and New Delhi, led by managing partner Zulfiquar Memon. With a dedicated team of 50 lawyers and eight partners, MZM Legal has earned widespread recognition for its expertise in white-collar criminal defence, regulatory compliance, international commercial arbitrations, commercial litigation, and corporate advisory, serving clients from more than 10 countries across four continents.

A hallmark of MZM’s practice lies in its adept handling of anti-bribery and compliance investigations, particularly for Fortune 500 corporations. With a focus on advising clients from the US, UK and Europe on matters such as the Foreign Corrupt Practices Act 1977 and the UK Bribery Act 2010, MZM ensures international corporate compliance. In its white-collar crime/criminal defence division, MZM boasts five partners and 15 fee earners, serving a distinguished clientele that includes Tata Sons, Tata Technologies, Essar Group, Reliance Jio Infocomm and Kotak Mahindra Bank, among others.

ARBITRATION & ADR

AZB & Partners, Cyril Amarchand Mangaldas, Khaitan & Co and Shardul Amarchand Mangaldas & Co all made it to this year’s list of top arbitration and alternative dispute resolution (ADR) law firms. Businesses persist in seeking guidance on arbitration and ADR to sidestep prolonged courtroom negotiations. The increasing preference for arbitration as a swift and cost-effective resolution method, coupled with the evolving legal terrain, has led to heightened demand for specialists in this domain.

DSK Legal, established in 2001, stands as a prominent player in India’s legal landscape, with a dedicated team of more than 300 professionals spread across offices in Mumbai, New Delhi, Bengaluru, Hyderabad and Pune. The firm has won acclaim for its integrity, proactive approach, and innovative legal advice, catering to diverse client needs across various sectors.

Renowned for its expertise in dispute resolution, DSK Legal’s arbitration and alternative dispute resolution practice is a cornerstone of its service offerings. With a keen understanding of local jurisdictional nuances, the team endeavours to expedite proceedings and ensure effective representation for clients throughout the dispute resolution process.

Led by Anand Desai, a seasoned practitioner with more than 30 years of domestic and international experience, the firm is trusted by numerous multinational corporations, Indian corporates, and high net-worth individuals for their dispute resolution needs. “Anand Desai is a supremely competent and resourceful lawyer,” said Prakash Pillai, partner at Clyde & Co Singapore.

DSK Legal’s commitment to delivering comprehensive solutions is underscored by its collaborative approach, working seamlessly with international law and consulting firms to address cross-border disputes effectively. The firm’s in-house drafting expertise ensures clarity and effectiveness in presenting clients’ cases, further enhancing their legal representation and advocacy.

S&A Law Offices offers comprehensive legal solutions to both domestic and international clients. Established in 2000, the firm has rapidly grown into one of the country’s leading full-service law firms, boasting a team of more than 300 professionals, including 21 partners, across its offices in Gurugram, New Delhi, Mumbai and Bengaluru.

The firm’s expertise spans across various practice areas, including litigation, alternative dispute resolution, corporate and allied laws, IP, restructuring and insolvency, and indirect tax, customs and international trade.

S&A joint managing partner Gunita Pahwa leads the dispute resolution team at the firm’s Gurugram office. With more than 19 years of experience, she specialises in commercial arbitration and disputes across sectors such as infrastructure, pharmaceuticals, energy, and IT. Pahwa has earned accolades for her expertise in domestic and international arbitration, representing clients before institutions such as the LCIA, SIAC and ICC.

AVIATION

India’s commercial aviation sector is forecast to expand at an average annual rate of more than 7% until 2035, positioning it as the world’s fastest growing major market. The ancillary maintenance, repair and overhaul (MRO) industry is seen growing at an even faster pace of more than 12% a year on average. Law firms play a crucial role in fostering this growth, from securing deals to tackling compliance.

ALMT Legal, with close to 90 lawyers, including 21 partners, is a prominent full-service law firm with a reputation for expertise in diverse practice areas such as shipping, private equity, and labour and employment. But it is in aviation where ALMT truly shines, offering unparalleled legal counsel and representation in aviation-related litigation.

Led by seasoned professionals including founder Sameer Tapia, partner Komal Joshi and Siddhi Doshi, an associate partner, ALMT’s aviation practice is at the forefront of handling regulatory approvals, corporate setup for airlines, claims against airlines, hull insurance, aircraft purchases and sales, leases, aircraft finance and charters. The firm’s comprehensive approach ensures that clients receive tailored solutions to effectively navigate complex legal challenges in the aviation industry.

ALMT’s pragmatic approach enables clients to make informed decisions and achieve favourable outcomes. From settlement of disputes to drawing up airtight contracts and advising on remuneration and benefits, clients vouch for the firm’s aviation team’s exceptional legal services.

At the helm of Dentons Link Legal, managing partners Atul Sharma, Nusrat Hassan and Anand Srivastava lead a dynamic team of more than 40 partners and 150 lawyers, offering comprehensive legal services across various practice areas. Established in 1999, Dentons Link Legal stands as a prominent full-service corporate and commercial law firm, equipped with a robust network of offices in major Indian cities and access to Dentons’ global network spanning more than 80 countries.

With a steadfast commitment to bridging the gap between international and local businesses, Dentons Link Legal has cultivated pre-eminence in the aviation sector, encompassing a broad spectrum of services ranging from restructuring and financing transactions to dispute resolution. Led by Anand Srivastava and Atul Sharma, the Dentons Link Legal aviation team’s distinguished clientele includes major airlines, airports, aviation service providers, leasing companies, and regulatory authorities, among others, attesting to its proven expertise and industry recognition.

With more than two decades of experience and a deep understanding of regulatory frameworks, Dentons Link Legal provides effective solutions to address the unique needs and challenges faced by clients in the aviation sector. Notable engagements include advising leading Indian airlines such as SpiceJet on high-value transactions, alongside handling complex regulatory, insolvency and competition law disputes.

With offices strategically located across India, Dentons Link Legal is primed to deliver unparalleled legal support, particularly excelling in aviation matters from its Delhi office. SNV Aviation, Delhi International Airport and Big Charter are among the firm’s clients, further underscoring its reputation as a leading authority in aviation sector legal matters.

Kochhar & Co is a name to reckon with in aviation litigation, boasting a full-service presence in seven prominent cities within the country and four offices overseas, in Dubai, Singapore, Chicago and Toronto. Renowned for its cutting-edge legal expertise and commercially driven advice, Kochhar & Co is committed to delivering bespoke, sustainable, and innovative legal solutions tailored to its clients’ needs.

With a strong emphasis on leveraging technology and international best practices while upholding a traditional Indian business ethos, Kochhar & Co’s aviation practice group stands out for its expertise in both contentious and non-contentious matters within the sector. The firm caters to a global client base of airlines, operators and defence organisations, handling a wide range of issues including aircraft financing, transactional mandates and cargo-related litigation.

The aviation practice group at Kochhar & Co has a strong track record in handling contractual, regulatory, financing and taxation matters for prominent international and domestic airlines, MROs, aviation fuel suppliers and industry associations. From structuring transactions and negotiating documentation for aircraft leasing and financing to handling compliance issues and representing clients in litigation and regulatory proceedings, the firm’s expertise spans the entire spectrum of aviation law.

Established in 2022 by distinguished alumni from premier Indian and Ivy League law schools, Nora Chambers is a boutique legal practice based in New Delhi. With a focus on providing clear and practical legal counsel, the chamber is dedicated to empowering clients in their decision-making processes. Leveraging extensive legal experience, knowledge and a robust network, the team at Nora Chambers is committed to delivering unparalleled service.

At Nora Chambers, the primary emphasis lies in commercial dispute resolution, encompassing a wide spectrum of areas such as securities litigation, commercial litigation, arbitration, IP rights prosecution and litigation, product liability, and white-collar crime investigation, prosecution and defence. The chamber’s members hold licences to practise under both New York and Indian laws, in addition to being registered advocate-on-record with the Supreme Court of India.

Noteworthy among Nora Chambers’ portfolio is its involvement in the dispute between Akasa Air and Air India Express regarding pilot recruitment practices. Partner Shouryendu Ray, representing Akasa, has been instrumental in navigating the complexities of this dispute.

“It is a young firm of bright, capable lawyers who are keen to deliver and keep the client’s interest in the forefront,” said Bharat Bahadur, Akasa senior vice president of legal and compliance. “Shouryendu Ray and Neelu Mohan (a partner) have in-depth insights on litigation and corporate matters and give practical and relevant legal advice.”

Sarin & Co, founded in 1932, boasts a rich legacy in Indian legal affairs. Originally set up in Lahore, now in Pakistan, the firm has earned renown as a legal institution with expertise in litigation. In 2008, the firm expanded its portfolio by venturing into the specialised field of aviation law, under the leadership of managing partner Nitin Sarin.

Sarin & Co’s aviation team comprises six dedicated lawyers and a head of operations. With a focus on representing major banks, aircraft leasing companies, and financial institutions, the team has successfully handled high-value transactions and complex aircraft leasing and financing matters, including aircraft repossessions, worth billions of dollars. Notably, Sarin & Co’s stellar reputation in the aviation sector led to its inclusion in 2022 on the Legal Advisory Panel of the Aviation Working Group, a global body representing the industry.

Sarin, a qualified advocate in India and a solicitor in England and Wales, is widely recognised for his expertise in aircraft leasing, finance and regulatory matters. During the past decade, he has represented some of the industry’s leading players in transactions valued at more than USD25 billion. Beyond his legal practice, Sarin is passionate about aviation and has co-founded prestigious initiatives such as the Leiden-Sarin International Air Law Moot Court Competition and the Sarin-McGill Annual Student Essay Competition on Aircraft Finance and Leasing. He is also a guest lecturer at the IIASL, Leiden University, and a qualified IATA trainer.

Ritesh Aggarwal, a senior associate at Sarin & Co, complements the firm’s aviation practice with his expertise in regulatory matters and litigation. Specialising in providing regulatory assistance to foreign clients, Aggarwal liaises with key aviation authorities such as the Directorate General of Civil Aviation and the Ministry of Civil Aviation.

Established in 1883, Wadia Ghandy & Co is one of India’s oldest law firms, witnessing the evolution of the legal landscape – and aviation business – for more than a century. With a team of 150-plus members spread across six cities, it serves a diverse clientele, both domestic and international, collaborating with leading foreign law firms for multi-jurisdictional deals and matters. Rooted in Mumbai, it has expanded its presence across India and into international markets, including Canada, the US, Europe, Dubai, Africa and Asia.

Under the leadership of partners Marylou Bilawala and Dhruv Khanna, the firm boasts a robust aviation practice, specialising in aircraft transactions, leasing, financing and protection of ownership rights. Khanna’s expertise spans corporate laws, acquisitions, foreign exchange regulations and private equity investments, with a focus on aircraft financing and leasing transactions. He has played a pivotal role in drafting pioneering aircraft leases and documentation, as well as executing the first repossessions of aircraft from private airlines in India.

The Wadia Ghandy aviation practice’s clientele includes owners, financiers, lessors and providers of various aircraft equipment and parts.

BANKING & FINANCE

Along with top overall law firms JSA, Trilegal and Khaitan & Co, four others have joined this year’s list for excellence in banking and finance.

Established in 2000, Juris Corp has 29 professionals, including 10 partners, strategically located across Mumbai, Bengaluru and New Delhi. While the team is recognised for its expertise across a broad range of practice areas, including arbitration, capital markets and corporate governance, Juris Corp particularly excels in banking and finance litigation.

The firm recently acted for 15 multinational banks in the financing of approximately USD1.5 billion for Reliance Industries’ 5G rollout in India. This complex transaction required meticulous navigation of regulatory requirements and adherence to a narrow regulatory window.

At the helm is Jayesh H, a co-founder based in the Mumbai office renowned for his longstanding presence and reputation in the Indian banking sphere, with a particular focus on structured finance. Complementing Jayesh’s expertise is a dedicated team of lawyers including Ankit Sinha, a partner based in Delhi, whose practice encompasses trade financing, term loans and factoring transactions, with a specialisation in representing foreign banks and financial institutions.

IBLJ has been tracking Juris Corp’s involvement in structured finance and distressed transactions in India over the years, alongside the firm’s proficiency in syndicated finance, security creation matters and trade finance. The firm represents a diverse clientele, including international and domestic banks, non-banking financial institutions, and entities across sectors such as manufacturing and energy. Major clients include MUFG Bank, DBS Bank, and Standard Chartered Bank, for whom Juris Corp has successfully handled numerous cross-border transactions.

Saraf and Partners, a full-service law firm with a team of more than 240 professionals including 38 partners, has a legacy spanning more than three decades. With principal offices in Delhi (NCR) and Mumbai, complemented by an additional presence in Bengaluru and Hyderabad, the firm prides itself on delivering bespoke, innovative and integrated legal solutions using global best practices.

At the forefront of Saraf and Partners’ expertise lies its banking and finance team, which has advised on some of India’s largest and most complex transactions for banks and financial institutions.

“Within a short span of time, Mohit Saraf and his team have created a niche for themselves in providing superior service at a very cost-effective fee,” said Rajiv Mohapatra, Mastercard vice president of global legal compliance. “They have advised successfully on various marquee deals in India and have serviced their Indian and global clients in managing their legal deals and other requirements.”

Bolstering the team further, Saraf and Partners appointed as advisers Chandan Sinha, former Reserve Bank of India executive director, and Sunil Srivastav, a former deputy managing director of the State Bank of India. Notable recent engagements include advising Federal Bank and IDBI Trusteeship Services on the issuance of eligible Tier 2 capital, on a INR10 billion (USD120 million) syndicated term loan facility for Vedanta, and providing legal counsel to SBI and SBICaps on syndicated facilities for constructing a coal gasification-based urea manufacturing complex in Odisha. In addition, Saraf and Partners offered an enforceability opinion for LIC Housing Finance in the issuance of Tier 2 bonds.

SNG & Partners, formerly known as SN Gupta & Co, has won a reputation for its erudite legal work in New Delhi and Mumbai. Led by managing partner Rajesh Narain Gupta, the firm boasts a team of 74 lawyers, including 13 partners, proficient in English, Hindi and Marathi. Testimonials from several banks, financial institutions, private equity firms and big corporations named SNG as their preferred legal partner.

The firm can turn to six of its partners renowned for their expertise in acquisition finance, structured trade finance, debt capital market transactions and more. SNG & Partners has spearheaded numerous high-profile transactions, including Axis Bank’s INR7 billion construction-linked financing for Prestige Falcon Business Parks and State Bank of India’s INR7.8 billion lease rental term loan fund-based facility for Velankani Information Systems.

Founded in 2007, TT&A’s team of 110 professionals includes 26 partners, with their principal office in Mumbai and a presence in New Delhi. The firm has earned accolades for providing nuanced and pragmatic advice to clients embarking on unique and challenging transactions in the banking and finance sector.

Notably, TT&A has been instrumental in several recent high-profile deals, including advising the Asian Development Bank on the execution of documents related to non-convertible debentures issued by Cygnus Medicare. TT&A also played a pivotal role in advising the development bank on the acquisition of minority stakes in Revfin Services.

Other notable deals in which the firm was involved in 2023 include a USD9 million US development bank loan to Yulu for e-bike growth, Everstone Capital’s exit from Servion Global Solutions, and Goswami Infratech’s record USD1.7 billion debenture sale.

CAPITAL MARKETS

India’s law firms continued to reap a bonanza of deals in 2023, even if the year represented a consolidation from 2022: the number of IPOs jumped 56%, but there was a small drop in the total raised. S&R Associates joins six of the best overall firms in this year’s award winners for the capital markets category.

Established in 2005, S&R Associates has emerged as a prominent full-service law firm, boasting a dedicated team of 130 professionals, including 31 partners, with a principal office in New Delhi and another in Mumbai. Testimonials received by IBLJ vouched for the firm’s hands-on involvement of partners, international experience and regulatory expertise.

S&R Associates specialises in various practice areas, with a particular focus on capital markets. Their expertise encompasses a wide range of transactions, including government privatisations, IPOs, follow-on public offerings, REITs, InvITs, ADRs, GDRs, and investment-grade and high-yield bond offerings, among others.

In recent deals, S&R Associates, in collaboration with Baker McKenzie, played a key role in facilitating New Mountain Capital’s USD2.45 billion purchase of non-core businesses of PerkinElmer. Together with Anagram Partners, S&R also advised on the approximately USD200 million sale of a stake in Vedanta by one of the company’s promoters.

COMPETITION & ANTITRUST

In 2023, the Competition Commission of India (CCI) experienced a notable shift, witnessing increased enforcement actions, merger control activities and crucial amendments to the Competition Act 2002. Amid substantial institutional reforms, the commission grappled with evolving market conditions and regulatory complexities, adjusting its strategies to align with emerging trends and set new regulatory standards. Law firms in India have been agile enough to ride the change. Chandhiok & Mahajan retained its spot in the Competition & Antitrust list this year, while Luthra and Luthra made an entry, securing a place alongside five from the Best Overall Firms.

Chandhiok & Mahajan has a dynamic team comprising 12 partners, four counsels and 60 lawyers proficient in multiple languages including English, Hindi and Tamil. The firm is counted as a trusted adviser to some of the largest domestic and multinational corporations, leveraging its deep industry insights and unwavering commitment to client satisfaction.

With a history of handling high-profile and groundbreaking cases, the firm’s seasoned lawyers offer comprehensive counsel on a spectrum of competition law matters, including cartel investigations, merger control, intellectual property rights and sector regulation.

Noteworthy recent litigation includes representing Panasonic in a landmark cartel investigation into dry cell batteries, securing full immunity from antitrust fines, and advising Clariant Chemicals and Huntsman Corp on their USD20 billion merger of equals. Additionally, Chandhiok & Mahajan played a key part in facilitating major acquisitions, including ICU Medical’s USD1 billion acquisition of Pfizer’s infusion systems business and Warburg Pincus’ acquisition of DuPont’s food safety diagnostics business.

Luthra and Luthra (formerly known as L&L Partners) has more than 320 professionals, including 65 partners. The firm operates from principal offices in New Delhi and Mumbai, with additional branches in Bengaluru and Hyderabad.

During the past three decades, clients have placed their trust in Luthra and Luthra for its unwavering commitment to delivering practical and commercial solutions for complex legal transactions. The firm’s expertise spans a wide range of practice areas, including anti-corruption and compliance, banking and finance, dispute resolution and, notably, competition and antitrust litigation.

CORPORATE & COMMERCIAL

All established law firms have strong corporate and commercial practices. As these large firms have been recognised in practice areas such as M&A and private equity, IBLJ has put the spotlight on the strong work done by the mid-sized firms in this category.

Dua Associates flexes its credentials with an extensive clientele comprising Fortune 500 companies, publicly listed entities, privately owned businesses and multinational corporations. Led by its chairman CR Dua, the firm boasts a rich legacy of more than 35 years and continues to serve as a trusted adviser to clients such as Dow Chemical, McDonald’s, Boeing and Tata Group, among others.

With more than 250 legal professionals, including 75 partners and counsels, in eight key metropolitan cities in India, Dua Associates offers deep expertise in corporate and commercial law. The firm’s proficiency extends to complex transactions encompassing M&A, competition and antitrust, foreign direct investment, private equity, venture capital, international trade, and project financing. Moreover, Dua Associates has earned accolades for its prowess in litigation, arbitration, regulatory compliance and tax structuring matters.

Established in 1996, Fox Mandal is one of India’s oldest and most esteemed full-service law firms. It has offices in major cities and representative offices across India, with a dedicated team of more than 200 professionals.

Adept in corporate and commercial law, Fox Mandal provides tailored advice to a diverse clientele, ranging from Fortune 500 companies and multinationals to emerging enterprises and individuals. The firm’s principal areas of practice encompass a wide spectrum of corporate and commercial matters, including antitrust and competition law, banking and finance, capital markets, and family business, among others.

In the realm of corporate law, Fox Mandal distinguishes itself through its expertise in structuring complex transactions, negotiating contracts, and providing strategic guidance on restructuring and exit strategies. The firm’s proficiency extends to partnership and limited liability partnership matters, regulatory compliance, and representation in litigation and alternative dispute resolution forums.

Similarly, in commercial law, clients go to Fox Mandal for insights into structuring trade arrangements, obtaining statutory permissions, and navigating legal and regulatory implications, as well as adeptness in contract drafting, regulatory compliance and dispute resolution.

Established in the early 2000s by Dr Manoj Kumar, Hammurabi & Solomon has emerged as a top-ranking law firm in India, with a team of more than 16 partners with expertise in diverse legal domains.

The firm’s corporate, commercial and M&A practice is sought out for its expertise in corporate counselling, transactional work and business reorganisation. With a nationwide network, the firm blends extensive transactional experience with a profound understanding of local markets, negotiating complex transactions to structuring acquisitions and conducting thorough legal due diligence.

Phoenix Legal has established itself as a leading player in India’s legal landscape and has a team of 85 professionals, including 20 partners. Founded in 2008, the firm has its principal offices in New Delhi and Mumbai, strategically positioned to serve a diverse clientele comprising domestic and international companies, financial institutions, funds and public sector undertakings.

Recent transactions underscore Phoenix Legal’s prowess in navigating complex domestic and international matters. Notably, the firm advised on Matrix Partners India and Kae Capital’s follow-on investment in the USD14 million series B funding round of Foxtale Consumer. The firm also played a key role in advising Matrix Partners and Nexus Venture Partners on their investment in a seed funding round of USD20 million in Neysa Networks, further solidifying its position as a trusted adviser in venture capital transactions.

The firm advised Planetcast Media Services on its acquisition of Australia’s Switch Media, underscoring its proficiency in handling cross-border M&A transactions. Led by partner Pranav Srivastava, the transaction highlights Phoenix Legal‘s commitment to delivering exceptional outcomes for its clients with professionalism and responsiveness.

Founded in 2016, Vertices Partners has swiftly emerged as a leading force in the legal landscape. It houses a team of dynamic professionals spread across offices in Mumbai, Gurugram and Bengaluru, with a roster of 10 partners. Vertices Partners specialises in corporate and commercial law, offering expertise in M&A, corporate governance and regulatory compliance.

Vertices Partners’ comprehensive suite of services includes structuring transactions, drafting and negotiating transaction documents, regulatory approvals, and post-closing support. The firm’s meticulous attention to detail ensures seamless execution and optimal outcomes for its clients, with a focus on integration planning, risk management, and corporate governance best practices.

Recent deals illustrating the firm’s strengths in the field include advising Gojo & Co on a USD30 million transaction and representing Battery Smart in a USD23 million fundraising round. It also advised Next Retail on franchising rights to Myntra and assisted ICICI and Baring Private Equity on their investment in PropertyPistol.

DATA COMPLIANCE & CYBERSECURITY

Nishith Desai Associates, or NDA, has won a reputation for its expertise in cybersecurity and data compliance litigation, offering strategic and legal advisory services to clients across industries. Its team specialising in data protection laws and sector-specific regulations provides comprehensive guidance on compliance requirements, documentation, and internal policies.

NDA’s cybersecurity team actively engages with industry associations and policymakers to shape legislation in this space, contributing significantly to policy discussions and providing inputs on recent legal updates. The firm’s advisory services cover regulatory issues, including cybersecurity compliance requirements, reporting obligations and assessment of complex communications technology infrastructure.

The firm also offers training sessions to clients, covering data protection strategies, security compliance and reporting obligations in the event of a cybersecurity incident. Additionally, NDA assists clients in filing criminal complaints related to cyber offences and collaborates with cybersecurity forensics and audit organisations for internal audits and investigations.

PSA, established in 2004, is renowned for its expertise in cybersecurity and data compliance litigation. The firm also won a place on India Business Law Journal’s roster of the top firms in this field for 2022 and 2023.

The New Delhi-based firm has a team of 18 professionals, including three partners. Leveraging best technology practices, including virtual data rooms for safeguarding documents and sharing files, PSA excels in managing legal transactions, particularly complex disputes requiring control over large volumes of data within a secure environment.

PSA’s comprehensive services extend to advising global conglomerates and domestic companies on various aspects of data protection compliance, including cross-border transfers, data inventory, processing and audit, privacy contracting and negotiations, information management, policy formulation, and privacy rights and obligations.

Spice Route Legal, a prominent full-service law firm founded by Praveen Raju and Mathew Chacko, focuses on three core areas: technology, media and telecommunications; life sciences, pharmaceuticals and healthcare; and sustainable and alternative energy. With offices in Mumbai, Bengaluru, Pune and Kochi, the firm boasts a team of 80 lawyers proficient in English, Spanish and French, in addition to Hindi, Tamil, Kannada, Malayalam, Bengali, Marathi, Telugu and Gujarati.

Spice Route Legal also specialises in corporate and M&A, private equity and venture capital, data protection, privacy and cybersecurity, financial sector regulatory, IP, litigation, arbitration and dispute resolution, and banking and finance.

The firm distinguishes itself with one of the largest and most sophisticated data protection, privacy and cybersecurity practices in Asia. With a dedicated team of 15 lawyers, the firm combines robust technical and legal expertise to navigate complex global data issues.

EDUCATION

India’s education industry is forecast to almost treble to USD313 billion by the end of the decade as the world’s most populous country seeks the skills needed to sustain blistering growth and transition to the new hi-tech and sustainable economy. Meeting the aspirations of India’s young workforce amid a dynamic and rapidly evolving educational sector presents multiple opportunities to the nation’s law firms.

LexCounsel is a premier full-service law firm, highly regarded for its exceptional legal counsel in India. With offices in New Delhi NCR, Bhubaneswar, Chandigarh, Kolkata, Allahabad, and associate offices nationwide, LexCounsel provides comprehensive legal solutions to a diverse domestic and international clientele.

Renowned for its expertise in litigations within the education sector, LexCounsel’s team of education lawyers has garnered accolades for their notable representations. The firm has been instrumental in advising and assisting prestigious institutions including FICCI Arise, Galgotias University, Jaipuria School of Business and others, on a wide range of legal matters from drafting framework documents and collaboration agreements to navigating complex regulatory landscapes and conducting operational audits.

ENERGY & NATURAL RESOURCES

Both HSA Advocates and SKV Law Offices made it to this year’s list, along with established peers Phoenix Legal and JSA.

A boutique law firm headquartered in New Delhi, SKV Law Offices is especially well-known for its energy law practice. Handling diverse disputes and litigation matters, the firm has tackled issues pertaining to power purchase agreements, regulatory changes, tariffs, transmission charges and contractual conflicts with distribution licensees.

SKV is currently advising and representing major power generation entities such as NTPC, Reliance Power, Adani Power, Tata Power, Jaiprakash Power Ventures, GMR Energy, Greenko Group, Punj Lloyd, and Jindal Power in various tariff-related disputes across multiple forums, including SERCs, CERC, APTEL, high courts and the Supreme Court of India.

ENVIRONMENT

Dhir & Dhir, established in 1993, has emerged as a leading law firm with a team of 65 professionals, including 10 partners, operating from its principal office in New Delhi and branches in Hyderabad, Mumbai and Japan. Specialising in a diverse range of legal services, the firm has garnered recognition for its expertise in litigation, particularly in the environment sector.

With more than three decades of experience, Dhir & Dhir is renowned as a go-to firm for matters brought before the NCLT, NCLAT, DRT, DRAT, high courts, and the Supreme Court of India. The firm’s rapid diversification has seen a focus on specialised areas such as telecoms, airport regulatory affairs, ESG (environment, social and governance), and project finance.

Noteworthy recent deals include Dhir & Dhir advising IIFCL on MB Power’s INR10 billion takeout finance facility.

Saikrishna & Associates is led by managing partner Saikrishna Rajagopal, whose team of 13 partners and 89 lawyers offer comprehensive legal services across diverse practice areas.

Respected IP firm Saikrishna & Associates has been diversifying into new areas and winning recognition for the quality of its work. One such area is environment law, where the firm rounds off our list of winners. Led by managing partner Saikrishna Rajagopal and senior partner Ameet Datta, the firm advises domestic and international clients in the technology and consumer durable sectors, with a particular focus on the management of electronic, hazardous and plastic waste.

FINTECH

Argus Partners showed its strength in the fintech sector in 2023 with key roles in several transactions, including the series B funding round for Exponent Energy led by Eight Roads Ventures, which raised USD26.4 million.

Argus Partners also advised Arkam Ventures on its investment in Smartstaff, a blue-collar staffing platform, and assisted OfBusiness in its acquisition of Koeleman India. In addition, the firm played a key role in Together Fund’s participation in the series A round for Spendflo, a SaaS buying and management platform.

Founded in 2009, Argus Partners has a team of 150 professionals, including 22 partners, in Mumbai, Bengaluru, Kolkata and New Delhi. With an established reputation in diverse practice areas encompassing litigation, arbitration, banking, corporate governance and more, Argus Partners is a trusted adviser to numerous corporates and institutions.

FOREIGN DIRECT INVESTMENT

Acuity Law has earned a reputation for its expertise across a diverse spectrum of practice areas and for catering to clients’ multifaceted legal needs. With a robust team specialising in commercial and trading arrangements, corporate advisory, dispute resolution and more, Acuity Law stands as a trusted adviser to a wide array of domestic and international clients.

The firm’s strengths have been on display in some notable recent transactions involving complex foreign direct investment (FDI) scenarios. Acuity Law assisted South African law firm Webber Wentzel and its client on a USD159 million investment deal; and the BL Taparia Family Office in its follow-on investment in Arcatron Mobility.

Ahlawat & Associates (A&A), established in 1978 by Avnish Ahlawat, offers comprehensive legal services tailored to both domestic and international clients. Originally founded as a litigation firm, A&A has since expanded its portfolio to encompass a wide array of practice areas, including M&A, private equity, real estate and IP.

Distinguishing itself through its expertise in FDI litigation, A&A provides invaluable counsel on matters pertaining to foreign investment, JVs, corporate compliance and governance, and advisory support for startups. In recent highlights, A&A advised Rooter Sports Tech on its pre-series B investment round, which raised about USD16 million. These achievements underscore A&A’s reputation as a trusted partner in facilitating investment transactions and fostering business growth in India and beyond.

King Stubb & Kasiva, or KSK, leverages its understanding of the regulatory landscape and the firm’s consultants facilitate entry into the Indian market for investors, firms, businesses and venture capital funds.

The firm’s team of attorneys possesses skills and knowhow for liaising with regulatory authorities such as the SEBI, RBI, FIFP and CCI, and excels in handling regulatory approvals, registrations, ongoing compliance, and compounding proceedings before the RBI for violations of FEMA. It recently merged with litigation boutique firm Common Law Chambers.

Wadhwa Law Offices has added seven counsels and four partners bringing its team to 34 lawyers in Gurugram and Bengaluru. Rachita Nadig’s promotion from counsel marked the firm’s first in-house advancement to partnership. The firm’s global reach extends through AsiaWise, particularly excelling in the India-Japan corridor.

Recent additions to the team enhance expertise, enabling comprehensive support in fund formation, competition law, TMT sector guidance and real estate transactions. Notable engagements include advising Aroa Venture Partners, Elecbits Technologies, and Kirin Holdings on strategic investments. The firm has facilitated fundraisings for Uravu Labs, Wakefit, and Frogo Foodtech, while representing IPL cricket teams and football clubs such as Odisha FC and Punjab FC.

INFRASTRUCTURE & PROJECTS

Legacy Law Offices is a distinguished full-service Indian law firm founded in 2006 by Raman Anand, a seasoned legal professional with more than 50 years of extensive experience. Under the leadership of Gagan Anand, a fifth-generation lawyer and managing partner since 2010, the firm has grown from its roots in Chandigarh to become a prominent player in the nation’s legal arena.

Specialising in infrastructure and project finance, Legacy Law Offices provides comprehensive legal counsel to regulators, government entities, project developers, investors, and suppliers across various sectors. With a focus on PPP projects, the firm has facilitated the successful structuring and management of more than 500 projects, including railway station redevelopment, hospital development and power transmission line packages, among others.

“Legacy has been our organisation’s go-to law firm for resolving various projects undertaken by the company as well as the matters pertaining to dispute resolution and arbitration,” said Saurabh Khanna, president of Intercontinental Consultants & Technocrats. “They have provided diverse legal services including legal advisory, due diligence, contract management, and extensive litigation and arbitration services, thereby safeguarding our rights and ensuring favourable results.”

“Additionally, the firm has a diverse team of individuals holding expertise in different sectors and fields that enables them to provide best-in-class legal services in response to different legal issues encountered within different sectors and industries of operation.”

INSURANCE & REINSURANCE

Solaris Legal has retained its spot in the insurance sector leaders’ list this year. It was also among the Best New Law Firms list of 2023.

Founded in 2021 by Trinath Tadakamalla, Debarshi Dutta, and Mrinal Ojha, Solaris Legal operates as a boutique law firm, offering extensive legal support to clients throughout India. Based in New Delhi and supported by a team of lawyers across multiple cities, the firm has earned a reputation for its proficiency in dispute resolution, consistently being acknowledged as a frontrunner in the industry.

Since 2000, Tuli & Co has maintained a dominant presence in India’s insurance law landscape, exclusively serving insurers and reinsurers. Their practice encompasses product development, regulatory compliance and dispute resolution, setting the firm apart from ones focused on M&A and other areas.

Noteworthy is their direct advisory role to insurers and reinsurers, occasionally collaborating with global firms such as Clyde & Co and Pinsent Masons. Recognised by publications including India Business Law Journal, the firm’s leadership, including Neeraj Tuli, boasts prestigious accolades.

With dedicated teams specialising in regulatory, coverage and dispute matters, the recent 25% team growth ensures comprehensive support for clients. The firm prioritises gender balance and anticipates surpassing last year’s financial performance.

INTELLECTUAL PROPERTY ENFORCEMENT

Led by founder and managing partner Hemant Singh, Inttl Advocare is renowned for its expertise in IP prosecution and enforcement, and related fields such as information technology, media and telecoms, and antitrust laws, alongside offering essential corporate services.

With a dedicated team of 100 professionals, including four partners, technical experts, and more than 40 paralegals, Inttl Advocare has garnered recognition from premier international publications. Its lawyers frequently contribute as speakers at national and international IP forums, serve as guest lecturers at law schools, and participate as commentators on radio chat shows.

Noida-based boutique law firm Sujata Chaudhri IP Attorneys was established in 2014 and has since fuelled growth with strategic hires, including the addition of two partners within the past year and the recruitment of a senior lawyer to lead the trademark prosecution practice. The firm has further bolstered its team by hiring two senior associates and 15 associates.

Demonstrating prowess in IP litigation, Sujata Chaudhri IP Attorneys has secured favourable outcomes in numerous cases before Delhi High Court and the district courts. With 40 civil suits filed before Delhi High Court since 2022, the firm has achieved success in 25 cases, obtaining interim relief in others.

“I have known and worked with Sujata Chaudhri IP Attorneys for many years, and they are very responsive, thorough with close attention to detail and reasonable in their costs,” said Abida Chaudri, a solicitor and chartered trademark attorney at Arcacious IP in the UK.

“Sujata is a pleasure to work with and runs a very reliable and efficient team. She is well known in the international (legal) trademark community and visible at key IP conferences and events such as the INTA Annual Meeting, amongst others.”

INTELLECTUAL PROPERTY PROTECTION

K&S Partners utilises cutting-edge technology and secure web mechanisms to streamline its business operations. The firm employs a diverse array of IT systems, including virtual servers, Microsoft 365, and AI-driven projects, all governed by stringent IT policies compliant with ISO 27001 standards.

The firm has acted on many high-profile IP protection cases over the years. K&S Partners recently navigated the conversion of a patent addition into an independent application to address objections. Additionally, the firm acted on behalf of a prominent supplier of machinery for plastic packaging production, effectively arguing against the novelty and inventive step of the applicant’s claims.

Established in 1827, Remfry & Sagar has a dedicated team of more than 115 lawyers and 160 professional staff, including 27 partners. The firm is recognised for its expertise in patents, trademarks, copyright, designs, and other facets of intellectual property law. Notably, Remfry & Sagar excels in IP litigation, offering robust legal representation in complex disputes.

Monika Sachdeva Arora, head of legal and compliance at MAHLE Holding (India), rates Remfry & Sagar as one of the best IP law firms she has worked with.

The firm provides an “array of services for IP including but not limited to trademark, patent, copyright, design, IP litigation, patent litigation, patent drafting, customs practice, technology, media & telecoms and corporate law”, she said. “Their proactive team has helped me out on various occasions for having positive results on account of trademark litigations, customs- related matters and handling counterfeits in India.”

INTERNATIONAL TRADE (WTO, BIT ARBITRATION)

AnantLaw has retained its slot in the international trade practice list in 2024. Renowned for its proficiency in international trade litigation, the firm consistently delivers exceptional results for its clients. The firm’s achievements in this practice area are highlighted by several key cases and advisory roles.

One of the firm’s notable successes was representing the minority shareholders (promoters/directors) of Solar Industries India in a high-profile oppression and mismanagement case before the National Company Law Appellate Tribunal. This case involved allegations of mismanagement and illegalities within the company, leading to a landmark decision that upheld the rights of the minority shareholders and set important legal precedents.

AnantLaw has also advised a UK-based pilot training entity, Rectrix Drone Services, on policies, regulations and laws relating to drones and data collection in India. This included guidance on foreign investment and import regulations, and licensing from the Directorate General of Civil Aviation, showcasing the firm’s expertise in navigating complex international trade and regulatory environments.

Further demonstrating its capabilities, AnantLaw provided legal counsel to Colruyt on issues related to call routing and data protection laws in India, and assisted BottleShop, a startup app, on regulatory compliance across various states in the Indian liquor industry. These engagements required in-depth knowledge of both national and international legal frameworks, emphasising AnantLaw’s strength in cross-border legal matters.

The firm also advised Intrado on VNO licensing regulations and assisted in the surrender of the UL-VNO licence, highlighting its ability to manage intricate telecommunications regulations. AnantLaw also supported TetraPak on data protection and privacy laws in India, including the applicability of GDPR.

Established in 1985, full-service law firm Lakshmikumaran Sridharan Attorneys (LKS) is renowned for its specialisation in taxation. With a team of 422 professionals, including 68 partners, and offices in 14 cities across India, LKS provides comprehensive legal services in corporate and commercial laws, dispute resolution, and intellectual property.

LKS has a robust taxation practice, having handled more than 30,000 litigation cases, including 2,000 before the Supreme Court of India. The firm’s extensive experience spans customs law, transfer pricing, and international trade, making it a go-to firm for taxation matters. Its client base includes startups, SMEs, large Indian corporates and multinationals, comprising more than 15,500 clients in the past 36 years.

The firm has been lauded for its diverse and inclusive workplace. The current representation of women at LKS is nearly 50%, with a notable rise in leadership roles. The firm recruits 150-200 new professionals annually through a strategic campus recruitment process.

INTERNET & E-COMMERCE

Century-old law firm Anand and Anand has been a regular in IBLJ’s awards coverage over the years. It has retained its spot on the internet & e-commerce list this year, too. Significant among its milestones in the tech sphere in 2023, perhaps, is their Knowledge Repository, a digital archive centralising access to a century of legal documents, allowing lawyers to quickly retrieve and annotate case files.

The firm’s expertise spans a wide range of services, including data privacy laws, IP audits, technology transfers and internet laws. It has successfully handled high-profile cases in e-commerce securing well-known trademark status for brands such as Indiamart and Nykaa. The firm’s recent confidential work includes advising Zippo on quality certification norms and conducting property due diligence for HSBC.

It also has been advising e-commerce startups and venture capital firms in the sector, including clients such as Nykaa, Flipkart and Ola. Its renowned practice in IP protection and media law complements the internet & e-commerce practice well.

Samvad Partners has grown to become a force in India’s legal arena since its establishment in 2013. With more than 135 professionals, including 19 partners, and principal offices strategically located in Bengaluru, Chennai, Hyderabad, Mumbai and New Delhi, the firm offers a comprehensive range of legal services across diverse practice areas.

Renowned for its expertise in internet and e-commerce litigations, Samvad Partners takes pride in delivering practical, innovative, and high-quality legal advice to its clients. Led by a team of highly acclaimed partners, the firm adopts a partner-led, solution-focused approach, ensuring cutting-edge transactional work executed seamlessly across all five offices.

The firm caters to a wide spectrum of clients, ranging from startups to Fortune 500 companies, global private equity and venture funds, and government entities.

“Working with Samvad has been an enriching experience. The team is highly qualified and have a client-centric approach. Would strongly recommend Samvad for the corporate legal services,” said Abhishek Urs, director of Knight Frank India.

LABOUR & EMPLOYMENT

Singhania & Partners has a stellar team of lawyers well-versed in a broad range of legal domains, from corporate law to intellectual property and labour and employment.

Counted among its clients are industry giants such as Axis Bank, Bhushan Power & Steel, Deloitte, General Motors, Grohe, JSW, Punj Lloyd, and Shangri-La, reflecting the firm’s trusted reputation and commitment to delivering results.

Singhania & Partners has expanded its footprint in recent years with new offices in New Delhi, Bengaluru and Hyderabad. The firm has also significantly strengthened its workforce, doubling the number of associates and consultants across key practice areas.

LICENSING & FRANCHISING

Established by Neel Mason in 2006, Mason & Associates focuses on IP and information technology law, particularly licensing and franchising. With involvement in numerous high-profile cases shaping key issues in India’s IP law landscape, Mason & Associates has earned its reputation as a well-known law firm in this field, consistently setting the bar for excellence in IP and information technology law.

The firm provides advisory services to clients on various IP-related transactions, including content acquisition, assignments, licensing, and brand acquisitions in copyright and trademark domains. Maintaining offices in Delhi and Hyderabad, the firm prides itself on its dynamic team of lawyers, each bringing diverse backgrounds and extensive experience to advising clients on developing, registering, protecting and enforcing their IP portfolios.

LITIGATION

Karanjawala & Co, founded in 1983 by Manik Karanjawala and Raian Karanjawala, stands as an eminent dispute resolution firm, headquartered in New Delhi. With a team of more than 100 lawyers, including 15 partners, the firm has garnered recognition as one of India’s foremost litigation powerhouses.

Karanjawala & Co handled an array of cases from high-profile corporate disputes to everyday litigants’ concerns. While initially focused on Supreme Court of India and high court matters, the firm has expanded its footprint to encompass all subordinate courts and tribunals within the National Capital Region.

In the realm of dispute resolution, Karanjawala & Co has established itself particularly in the areas of anti-corruption and white-collar crime. Notable representations include acting for Arcelor Mittal India in its acquisition of Essar Steel, the representation of Tata Sons in the contentious dispute with Cyrus Mistry, and the successful defence of Twitter CEO and co-founder Jack Dorsey in a defamation case.

MEDIA & ENTERTAINMENT

TMT Law Practice has emerged as a formidable player specialising in the technology, media, and telecommunications sector. Established in 2008, the firm has grown to encompass a team of 55 professionals, including eight partners, with offices strategically located in New Delhi, Bengaluru and Mumbai.

With a focus on media and entertainment litigation, TMT Law offers a comprehensive suite of legal services tailored to the unique needs of its clients. From intellectual property rights protection to dispute resolution and arbitration, regulatory litigation and advisory services, the firm is committed to delivering exceptional legal counsel across a spectrum of practice areas.

TMT Law’s clientele range from Fortune 500 companies to startups, underscoring its reputation as a trusted adviser in the technology, media and telecommunications sectors.

MERGERS & ACQUISITIONS

The dip in deal values in 2023 was compensated by a 72% increase in deal volume compared to 2022, with a total value exceeding USD150 billion, noted Deloitte. Factors contributing to this growth included rising investor confidence, robust corporate cash reserves, and government pro-consolidation policies. Notable M&As included Adani Enterprises’ acquisition of a majority stake in IANS, Reliance Retail Ventures’ joint venture with Ed-a-Mamma, CarTrade Tech’s purchase of Sobek Auto India, and Saregama’s buy of a majority stake in Pocket Aces Pictures.

The law firms awarded in this category have played a major role in facilitating these complex, innovative, and high-value transactions. M&A continues to be a thick slice of the pie, typically landing in the hands of lawyers at the largest general practice law firms. As always, all the toppers have made it to this category too.

PHARMA & LIFE SCIENCES

POLICY & REGULATION

Established in 2001, Economic Laws Practice (ELP) houses a diverse team of more than 240 professionals spread across seven strategically located offices nationwide. With expertise spanning taxation, transactions, litigation and regulatory compliance, ELP gives comprehensive counsel to its clients in policy and regulation. Recent strategic additions to ELP’s senior leadership, including Vinod Joseph to head the investment funds practice, and seasoned partners Dipesh Jain, Supreme Kothari and Sachin Jain, have bolstered the firm’s capabilities in policy and regulation.

Notable projects executed in 2023 include the development of a pioneering standard operating procedure for the gold jewellery industry, commissioned by the Gems and Jewellery Export Promotion Council and recognised by the Ministry of Commerce and Industries. Confidential assignments – such as advising the Indian Pharmaceutical Alliance on market access barriers and contributing to free-trade agreement negotiations – highlight ELP’s expertise in navigating complex regulatory environments. ELP has also worked in critical policy-related disputes, from clarifying GST applicability for offshore transshipment activities to proposing frameworks for regulating virtual currencies.

PRIVATE CLIENT PRACTICE

Established in 2015, Veritas Legal offers client-focused legal advice in India and internationally. The firm’s expertise in private client practice includes wealth management, taxation, estate management, wills, trusts and probate.

Recent significant developments include elevating Kunal Doshi, Tushar Raut, and Vineet Nallawalla to equity partners, recognising their contributions in private client matters alongside M&A and PE. The firm also welcomed Jhinook Roy, who heads finance and infrastructure, and Shubhangi Pathak, specialising in M&A, PE, and the insurance sector. Additionally, Anju Jain Kumar joined as senior of counsel, leading the IP, media and entertainment, data and AI practices.

As private client practice involves privacy, Veritas bolstered its data security credentials by achieving ISO 27001:2013 certification, ensuring sensitive client information is protected. “India: An Introduction to Private Wealth Law”, a recent industry report by partners Abhijit Joshi and Doshi was well received in legal circles.

PRIVATE EQUITY & VENTURE CAPITAL

TT&A’s dynamic team of almost 30 lawyers, including 11 partners, have earned a reputation for their expertise in the private equity and finance sectors, garnering recognition for facilitating high-profile transactions.

Recent examples include the firm’s role advising International Finance Corp on its USD40 million investment in Artemis Medicare Services. Additionally, TT&A has played a pivotal role in facilitating strategic acquisitions, such as the purchase of a minority stake in Revfin Services by the Asian Development Bank and MUFG’s acquisition of a stake in InsuranceDekho.

REAL ESTATE

Poovayya & Co was founded in 1996 by Sajan Poovayya, a distinguished alumnus of the National Law School of India University and the London School of Economics. With its headquarters in Bengaluru and a branch in New Delhi, Poovayya & Co extends its reach through a network of associate offices in key cities including Mumbai, Chennai, Kolkata, Hyderabad and Kochi.

Renowned for its expertise in the real estate sector, Poovayya & Co has recently advised Bengaluru-based Krishna Priya Estates and Micro Labs on executing a joint development agreement with Brigade Enterprises. The collaboration aims to develop approximately 2 million square feet of residential housing spread across 14 acres in one of Bengaluru’s burgeoning residential hubs.

RESTRUCTURING & INSOLVENCY

The Insolvency and Bankruptcy Code (Amendment) Act brought significant changes to India’s restructuring and insolvency laws. It introduced regulations related to co-operation with resolution professionals, submission of proof of claims, claim verification, and authorised representatives. These changes were crucial for streamlining debt resolution procedures in India.

Meanwhile, the Regulation 2D (Details of Debt, Default, and Limitation) amendment emphasised that while filing applications under sections 7 or 9, creditors must provide evidence and a chronology of the debt and default, including relevant dates. This requirement ensures transparency and clarity during insolvency proceedings.

As expected, all leading law firms were constantly updating their insolvency practice, with the toppers making it to this list.

SHIPPING & MARITIME

K Singhania & Co boasts more than 25 years of specialised experience in maritime and aviation laws, establishing itself as a trusted adviser to national and international clients.

Recognised as one of the top maritime law firms by India Business Law Journal for four consecutive years, K Singhania & Co made it to the list this year as well.

Led by Krrishan Singhania, a stalwart in the field with more than three decades of experience, the firm provides invaluable counsel on maritime liens, charter-party disputes, and vessel arrests.

The firm’s clients include global watercraft manufacturers, leading shipping lines, and renowned exporters. Noteworthy engagements in 2023 include advising the Shipping Corporation of India on various legal matters, and successfully defending Jindal Stainless against a USD750,000 claim for damage to a vessel.

It has also advised Kawasaki Motors on legal requirements for setting up a business in India and assisted Hindustan Logistics in navigating legal challenges arising from fraudulent actions by consignees.

Renata Partners, a distinguished law firm specialising in maritime and commercial litigation, continues to hold its spot this year as recognition for its expertise in shipping and maritime law. It was recently honoured as the “Maritime and Commercial Litigation Firm of the Year” by the World Litigation Forum.

The firm recently secured a favourable order from Karnataka High Court for the removal of cargo on a sunken cargo ship and adeptly advised clients on issues concerning the grounding of their barge, including the preparation of necessary communications and documents for insurance claims.

Renata Partners also excels in customs law matters, representing clients on issues pertaining to misdeclaration of cargo and appearing before various customs authorities. The firm’s expertise extends to contentious litigations before esteemed courts and tribunals, including the National Green Tribunal and various high courts across India.

Rex Legalis is a highly regarded firm specialising in admiralty, shipping, insurance and general commercial litigation. With a strong focus on international maritime law, the firm also handles criminal, company, admiralty, insurance, international trade and transportation, and corporate laws, as well as land and property matters in India and Dubai.

In addition to its expertise in the shipping industry, Rex Legalis offers comprehensive legal services across diverse sectors, serving as a one-stop destination for international clients seeking counsel on matters spanning various industries and services within India and abroad.

Rex Legalis has associations with top-tier legal firms in major cities across India, including Delhi, Kolkata, Chennai, Ernakulum and Hyderabad.

“Under the astute leadership of advocate Rohan Janardhanan, Rex Legalis stands as a beacon of excellence in the legal landscape,” said Rajendra Kaimal, executive cirector of Arch Pharmalabs. “Their proficiency in general litigation, maritime and shipping law, corporate law, civil matters, and criminal law is unparalleled, reflecting a deep-seated commitment to client success and legal mastery across diverse fields.”

SPORTS & GAMING

Krida Legal has established itself as a premier law firm specialising in sports, gaming and entertainment law in India. The firm’s expertise is evident through its involvement in high-profile cases and significant deals in the sports industry. Recently, Krida Legal assisted the Hyderabad Cricket Association by supporting Justice LN Rao in resolving corruption and governance issues, ensuring the successful hosting of IPL 2023 and World Cup 2023 matches in Hyderabad.

The firm also played a crucial role in the success of the Ultimate Kho-Kho league, representing and strategising for its clients in all legal matters. Krida Legal’s involvement with Hillside (Sports) ENC (Bet365) in a lawsuit against Sporta Technologies (Dream 11) further showcases its proficiency in handling complex sports litigation, with the deal valued at INR20 million. The firm also assisted the All India Football Federation (AIFF) in amending and finalising its constitution to comply with FIFA statutes, ensuring continued recognition and participation in international football.

STARTUPS (ADVISORY)

Agama Law Associates has demonstrated exceptional growth and achievement during the past 12 months, highlighted by the acquisition of a new office in Nariman Point, Mumbai.

In 2022 and 2023, Agama Law Associates broadened its practice areas to include IP registration, capital markets litigation, family offices and M&A transactions, all of which bolstered its robust startup advisory. The firm’s excellence has been recognised in IBLJ’s startups category in 2023.

Burgeon Law has retained its slot this year, too, as the preferred startup adviser. It recently hired Ketan Mukhija and Abhinav Agnihotri as partners, taking the total number of partners to six.

The number of significant client achievements in 2023 speak for the firm’s credentials. Atlan, a pioneer in data collaboration software, secured USD105 million in funding with Burgeon Law’s guidance. The firm also played a pivotal role in LC Nueva’s USD2 million investment in BimaPay’s pre-series A fundraising round, and Venture Highway’s strategic investments of USD3.5 million in Highperformr.ai and USD4.2 million in CheQ.

Burgeon Law also advised SIDBI Venture Capital on a USD4 million investment in AI startup Myelin Foundry and supported SIS’s strategic investment in Age Care Labs. FlexifyMe, focusing on chronic pain management, raised INR100 million in a seed funding round, while RevFin, an electric vehicle-focused lender, secured USD14 million in equity funding led by Omidyar Network, all with Burgeon Law’s expertise.

In the comfort-tech sector, The Sleep Company raised INR1.84 billion in series C funding with Burgeon Law’s advice. Other notable deals include Biryani By Kilo’s USD9 million series C fundraising, Settlin’s funding from Powerhouse Ventures, and Airblack’s USD4 million pre-series B funding. Burgeon Law also facilitated bridge funding for beauty brand Conscious Chemist, and pre-series A rounds for D2C startup eské (USD1.5 million) and Oorja (USD1.5 million). The firm’s advisory role extended to QuriousBit’s USD2 million seed funding, FlexifyMe’s USD1 million seed funding from Flipkart Ventures, Eloelo’s USD22 million pre-series B round, Offline’s USD2 million funding, Wiom’s INR1.4 billion series A round, and Trential’s USD2 million seed funding for Credential Tech.

Lex Consult has retained its position in IBLJ’s top startup adviser law firm list this year, too. In 2023 it added Nidhi Khadria as the third equity partner. Nidhi brings nearly two decades of experience from top-tier law firms such as AZB and Trilegal, as well as senior legal roles at Matrix Partners and LOGOS India.

With its broadening practice, the firm relocated to a larger office in Mumbai’s prestigious Bandra Kurla Complex and established a remote office in India’s startup hub Bengaluru. Lex Consult has successfully onboarded clients such as Ivanhoe Cambridge, Kotak Alternate Asset Managers, Actis Mahindra, Ascendas-FirstSpace, and Aurum Properties.

NovoJuris Legal, led by co-founder Sharda Balaji, has demonstrated remarkable growth and excellence in the legal domain during the past year. The firm continues to strengthen its expertise and services with strategic hires, including Varalakshmi Makyam to bolster the IPR practice, as well as opening new offices in Pennsylvania and New Jersey in 2023.

Notable recent deals include a USD23 million series B investment in Skit.ai, led by WestBridge Capital, along with existing investors Kalaari Capital, Exfinity Ventures and IAN Fund.

STRUCTURED FINANCE & SECURITISATION

Resolut Partners has floated an immensely reputed practice base on its expertise in structured finance and securitisation. Deals it executed in 2023 include advising GIC Singapore on the USD2 billion joint venture with and Genus Power to establish Gemstar Infra.

The firm also represented GIC Singapore in the USD800 million secondary sale of a 24% stake in IRB Infrastructure Trust to Cintra, a subsidiary of Ferrovial. This deal also involved the sale of a 24% stake in MMK Toll Road.

Resolut Partners advised GIC Singapore in twoother deals: injecting USD910 million into IRB Infrastructure Trust toacquire a road asset and an investment alongside IRB Infrastructure Developers for the Ganga Expressway Group 1 project. The firm was ranked 11th in the 2023 Venture Intelligence Legal League Table for Private Equity, based on a USD1.66 billion deal.

TAXATION (DIRECT)

During the past year, Anagram Partners has experienced steady growth, enhancing its practice areas and technical capabilities. A key achievement has been the strategic expansion of its disputes practice with the addition of Mayuri Tiwari, a dispute resolution specialist with more than 13 years of experience in commercial litigation and arbitration.

In the taxation practice, Anagram Partners has solidified its reputation by integrating cutting-edge AI-powered software to streamline workflows, automate tasks and enhance due diligence processes. This technological advancement ensures greater efficiency and precision in handling complex taxation matters, reflecting the firm’s commitment to leveraging technology for improved client service.

Additionally, the firm’s leadership has received notable recognition. Partner Shuva Mandal has been included in IBLJ’s A List of Lawyers for the fifth consecutive year, while partners Simone Reis and Rajesh Simhan have been acknowledged by leading global and Asian publications for their expertise.

TAXATION (INDIRECT)

Client referrals put BMR Legal at the forefront of taxation matters. With the recent addition of two senior associates bolstering the international tax team and the recruitment of eight diversely skilled associates in both direct and international taxes, BMR Legal boasts a formidable lineup of legal professionals. These individuals bring with them a wealth of experience garnered from esteemed institutions such as the Big Four firms and top-tier Indian law practices.

In a significant judgment before the Supreme Court, the firm successfully argued for the classification of payments to foreign suppliers for computer software as non-royalties, thereby providing crucial tax certainty to stakeholders. Moreover, in another case, BMR Legal formulated a groundbreaking proposition establishing the jurisdictional limits of Indian customs laws over non-residents. The argument and meticulous representation resulted in a favourable adjudication outcome and subsequent interim relief secured for the client before the Customs, Excise and Service Tax Appellate Tribunal, Mumbai.

DMD Advocates has been gaining credentials in taxation, corporate law and regulatory affairs during the past three decades. The firm serves a large list of clients including prominent Indian and multinationals, business conglomerates, financial institutions, public sector undertakings, and Fortune 100, 500 and 1,000 companies.

A leader in both direct and indirect tax practices, the firm’s team has represented major multinationals, healthcare, pharmaceutical and medical technology companies, oil and gas firms, FMCG giants, steel manufacturers, and telecoms corporations in complex tax litigations. In 2023, the firm successfully represented clients – including Mitsui Group, BDO Rise and Philips India – in tax disputes involving service tax and goods and services tax regimes.

The principal offices in New Delhi and Mumbai, along with associate offices across Bangalore, Chennai, Cochin and Bhubaneswar, lends a strong pan-India presence, while the firm expanded its corporate practice in Mumbai and Delhi, complementing the taxation practice in these nerve centres.

TECHNOLOGY & TELECOMS

Since its establishment in 2019, AP & Partners has been a regular in the IBLJ awards. Headquartered in New Delhi, the firm houses a team of 35 professionals, including seven partners. Specialising in a diverse range of legal areas, the firm stands out for its expertise in technology and telecommunication law. With a focus on providing tailored solutions to complex legal challenges, AP & Partners has garnered recognition for its adept handling of high-profile cases and its commitment to client success.

The firm’s proficiency in technology and telecommunication law is exemplified by its involvement in landmark cases and advising private US space and satellite companies on market entry strategies and regulatory compliance in India. Additionally, AP & Partners has provided comprehensive counsel to leading electric vehicle companies on data protection regulations and facilitated cross-border data transfers for multinational corporations.

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