IBLJLaw Firm Awards 2026

IBLJ analysis:

ADP Law Offices is a specialist firm headquartered in Noida. Ameet Datta, launched the firm in 2025, and it currently has a team of over 30 professionals.

The firm was established with a focus on providing specialised legal and regulatory advice to businesses operating in rapidly evolving industries. Drawing on intellectual property law foundations, ADP Law Offices offers services across dispute resolution, advisory, prosecution, transactions, policy reform, trade and regulatory compliance, and data protection.

The firm particularly emphasises on technology, media and telecoms sectors, advising clients on complex regulatory, commercial and contentious matters.

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IBLJ analysis:

In the past 12 months, Aekom Legal achieved significant growth driven by a combination of complex mandates and consistent execution. The firm advised on multibillion-dollar transactions, complex cross-border structuring exercises, and precedent-setting litigation before tribunals, high courts and regulatory authorities. At the same time, it strengthened its sector focus across electronics manufacturing, healthcare, FMCG, financial services and real estate.

Shveta Gupta, director at Divyanshi Aviation Services, said: "The firm is equally comfortable handling transactions and disputes, which is important for businesses like ours where legal issues are often interconnected. In our experience, Aekom Legal is not just a service provider, it is a dependable extension of the management team."

Gurmit Singh Chugh, founder director at Translumina, said: "The same team handled M&A, private equity and capital markets aspects with consistency and clarity, ensuring that decisions taken at one stage did not create friction at another."

IBLJ analysis:

Agama Law Associates advised on a diverse set of matters across equity capital markets, financial regulatory advisory, and corporate transactions. In capital markets, the firm advised on multiple SME mandates including Brandman Retail, Panchatv Bharat, RCRS Innovationsand Voler Car, which involved end-to-end IPO readiness, due diligence and compliance with the Securities and Exchange Board of India's issue of capital and disclosure requirements regulations.

Bijal Ganesh, a partner at Sakshi Infotech Solutions, said Agama Law "is up to date and also very precise in their understanding of IT-related services that we offer. They do not hesitate to pick up new concepts and are always willing to listen and implement. They also give a personal touch to everything as they give solutions over and above their scope of work."

IBLJ analysis:

Ahlawat & Associates has expanded its capabilities across data protection, intellectual property, private equity, corporate commercial, labour & employment, and technology, media & telecoms (TMT), reflecting a growing demand for integrated advisory services in India's rapidly evolving regulatory and digital economy.

With the enactment of the Digital Personal Data Protection Act, 2023, the firm has been advising a wide spectrum of clients including global SaaS providers, fintech companies, social media intermediaries, gaming platforms, mental health applications and virtual asset businesses on issues including compliance frameworks, cross-border data transfer strategies, cybersecurity regulations and platform governance.

IBLJ analysis:

In the past 12 months, AJA Legal has continued to strengthen its presence in the Indian legal market through trusted client relationships and a growing portfolio, particularly in the areas of insolvency, restructuring and commercial disputes.

The firm has also continued to advise and represent a wide range of stakeholders under the Insolvency and Bankruptcy Code, 2016, including resolution professionals, financial creditors, operational creditors and corporate debtors, in proceedings before the National Company Law Tribunal, National Company Law Appellate Tribunal and other judicial forums.

Priyanka Rawat, Sr. Manager Legal & Compliance at Edwards Lifesciences in Mumbai says: "What sets [AJA Legal] apart is their ability to understand the business context behind a legal issue and provide advice that is both legally sound and practical from an in-house counsel's perspective.

IBLJ analysis:

Established in 2016, AK & Partners is a New Delhi-based full-service law firm that advises domestic and international clients across a spectrum of corporate, regulatory, transactional and contentious matters. Its expertise spans fintech, banking, insurance, energy and infrastructure sectors, and it is well regarded for advice on foreign investment, market entry, regulatory approvals and post-investment compliance.

FincFriends COO and former RBI official, Ajaya Kumar Sahoo, said AK & Partners "is recognised for its sector-specific depth and strong commercial pragmatism within the fintech regulatory space. In comparison with larger full-service firms, which may offer broader transactional coverage, the firm provides more focused, hands-on regulatory advice tailored to fintech-specific issues, particularly in areas such as NBFC governance and digital lending."

IBLJ analysis:

Founded in 2003 by Divjyot Singh and Suniti Kaur, Alaya Legal is a boutique law firm based in the NCR region, advising domestic and international clients across a range of corporate, regulatory and dispute resolution matters.

Alaya Legal has a strong reputation in the education sector, advising international education groups, leading universities, K-12 institutions and edtech companies on complex regulatory, transactional and operational matters.

The firm's experience includes structuring investments and transactions involving technical, non-technical, K-12 and supplementary education providers, and advising on foreign investment strategies, private equity investments, strategic acquisitions, joint ventures and corporate restructurings.

Alaya Legal also acts on operational frameworks including management and collaboration arrangements, governance structures and charter documents for educational institutions.

IBLJ analysis:

With about 80 lawyers and 27 partners across offices in Mumbai and Bengaluru, ALMT Legal's practice areas encompass aspects of Indian law ranging from corporate, commercial and M&A to tax, employment, private equity, banking and finance, intellectual property, real estate, dispute resolution, shipping, aviation and data protection. Recently, Suman Kamani joined the Mumbai litigation office as a partner.

IBLJ analysis:

AM Sports Law & Management Co expanded its practice and is now retained by two national sports federations, and has been assisting others on a case-to-case basis. The firm's founder, Aahna Mehrotra advised the Ministry of Youth Affairs and Sports on the e-sports aspect of the Promotion and Regulation of Online Gaming Act, 2025.

Samant Sikka, co-founder at Game of Life Sports in New Delhi, said: "We have been using the services of AM Legal, specifically for the purpose of legal documentation, guidance around policies and frameworks with respect to a national professional golf league that we are building and running in India. There are a lot of lawyers and law firms that exist in India, but we found AM to be super specialised and domain experts for matters pertaining to sports laws, leagues, league administration and policy-related matters in India."

IBLJ analysis:

Anagram Partners is a team of technically skilled lawyers with a one-firm approach of giving clients access to the collective expertise of the firm's partners.

The firm's culture is reflected in its strong commitment to diversity and inclusion, adoption of technology-driven solutions to enhance productivity, and flexible working policies designed to improve efficiency and deliver better outcomes for clients. Recent transactions include advising CVC group on the sale of its majority stake in Healthcare Global Enterprises (HCG) to investment giant KKR in a transaction valued at about USD400 million.

Anagram also advised the India-Japan Fund, managed by National Investment and Infrastructure Fund, on its INR5 billion (US52.3 million) investment in EKA Mobility, supporting India's transition towards sustainable commercial transportation.

Robin Ogle, a partner at Slaughter and May in London, described Anagram Partners' founder, Shuva Mandal, as "a high-class individual with excellent experience and a sense of what international clients are looking for".

IBLJ analysis:

Anand & Anand has reinforced its leadership in intellectual property by advancing both enforcement and protection strategies. The firm represented major global and domestic clients in complex disputes, including: Visa International before the Nepal Supreme Court; Ford Motor Company in multiple trademark actions; and Daryaganj restaurant in its ongoing dispute with Moti Mahal.

It has also secured significant judicial recognition, such as obtaining well known trademark status for marks like RITZ and Marriott. Alongside enforcement, the firm has maintained a patent grant rate of 98% and successfully completed more than 2,000 trademark actions, reflecting consistent strength in IP protection.

Rittika Chhetri, legal counsel at AstraZeneca Pharma India in Mumbai, described the firm as "a lighthouse firm for IP in India, helping the company with strategy to safeguard its IP assets".

KG Sathyanarayan, head of brand protection at SKF India, said his company had initiated five civil actions with the firm in the recent past. "They have been hugely instrumental in ensuring freezing of bank accounts of suspects, which is a big thing and brings in a lot of fear and deterrence among the counterfeiting community."

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AnantLaw is a New Delhi-based full-service law firm established in 2020 by competition law specialists Anu Monga and Rahul Goel. Despite being a relatively young firm in the Indian legal market, it has built a strong reputation in competition and antitrust law, regulatory advisory, dispute resolution, technology, media and telecoms (TMT), international trade, and corporate advisory work.

AnantLaw's most notable strength lies in its competition and antitrust practice, where it advises and represents clients before the Competition Commission of India, the National Company Law Appellate Tribunal, high courts, and the Supreme Court of India. The firm has been involved in several significant competition law matters, including litigation arising from a cement cartel investigation and cases concerning abuse of dominance, merger control, cartel enforcement, and private antitrust damages claims.

IBLJ analysis:

In the past year, ANM Global has significantly expanded its capabilities and reinforced its position as a leading full-service law firm in India. The induction of two new partners, Varunraj Vinayak Limaye and Venkatesh Seshan, strengthened the firm's leadership across key practice areas, while the launch of its Hyderabad office enhanced its presence in the Telugu film industry.

A major highlight was the creation of ANM-Scriboard, a strategic joint venture that combines ANM's strengths in media, entertainment, IP, litigation and corporate law with Scriboard's [advocates and legal consultants] expertise in digital law, data protection, AI governance and technology advisory - positioning the firm to address complex challenges of the digital economy. Complementing these initiatives, ANM Global also launched ANM ThinkPod, a podcast bridging law and business.

IBLJ analysis:

In the past 12 months, Antares Legal has expanded its leadership and sectoral expertise while increasing its visibility in industry and policy forums. The firm promoted two partners internally and hired two laterals from leading law firms, strengthening its M&A and corporate advisory practice, and adding capabilities in e-commerce, direct selling, sports and technology.

Adhiraj Singh, associate general counsel at MakeMyTrip, said the firm "recently advised on winding-up provisions and helped us do a due diligence for a land deal. Their ability to handle myriad specialities makes them an ideal one-stop shop for all advisory and projects."

IBLJ analysis:

AP & Partners has expanded its leadership and practice areas in the past year by onboarding Romit Dey as a restructuring partner and Lagna Panda to lead the competition practice and strengthen data protection capabilities.

The firm also opened a new flagship office in Gurugram, while maintaining its presence in Delhi to support dispute resolution work. It has advised global and domestic platform businesses on regulatory and operational aspects of e commerce and internet based operations in India, including compliance with consumer protection laws, intermediary liability and e commerce regulations.

Ruchira Shukla, founder & CEO of Green Marble VC in New Delhi, said: "AP & Partners are best in class, extremely thorough, detail oriented and professional. Deeply committed to providing the best service and balancing multiple objectives to get to the best answer for all. They are particularly flexible and well suited for technology startups and VC funds."

IBLJ analysis:

In the past year, Argus Partners has consolidated its position as a leading law firm. Notable work includes advising Tega Industries and Apollo Global Management on the USD1.45 billion acquisition of Molycop. The firm also deepened its expertise in private credit and structured finance with bespoke financing and stressed asset mandates. On disputes, the firm represented Indian Super League clubs in Supreme Court proceedings on sports governance, and acted in the Gensol Engineering-BluSmart insolvency, a matter with implications for India's EV ecosystem.

Argus has also expanded capabilities in fintech, AI governance and data protection, while strengthening leadership in energy, infrastructure and regulatory disputes. With investment in technology platforms such as Jurisphere AI and Argus Academy, the firm has reinforced its ability to deliver partner-led, technology-enabled advice on complex, cross-border and regulatory-intensive matters.

IBLJ analysis:

ASL-Legal Law (formerly APJ-SLG Law Offices) has filed more than 2,500 special leave petitions, writ petitions and appeals, along with more than 10,000 applications before the Supreme Court of India, various high courts and other appellate forums. Its litigation experience spans all levels of the judicial system, from subordinate courts to appellate courts across India. The firm has developed a recognised practice in international trade and WTO law, and its lawyers advise both the government of India and exporters on WTO dispute settlement proceedings and trade negotiations.

The firm works closely with the Ministry of Commerce and leading industry associations on matters relating to anti-dumping measures, subsidies, safeguards and other international trade issues, including bilateral and multilateral trade agreements. It was retained by the ministry to assist in drafting India's anti-dumping and anti-subsidy legislation.

IBLJ analysis:

Founded by Shameek Chaudhuri, a former partner at Vritti Law Partners, Avyakta Law is a boutique firm focused on corporate advisory and transactional matters.

The firm has advised on several significant cross-border transactions, reflecting its strength in capital markets, M&A and international corporate advisory work. Recent marquee mandates include advising Sumitomo Mitsui Banking Corporation in connection with the IPO of Northern Arc Capital, marking the first participation by a Japanese megabank in an offer-for-sale in Indian capital markets.

The firm also advised Micro Labs India on its acquisition of Nigerian generics company Swipha, demonstrating its capabilities in complex cross-border healthcare transactions. In addition, Avyakta Law acted as Indian counsel to Sojitz on its proposed acquisition of Nippon A&L, highlighting the firm's expertise in multijurisdictional M&A transactions involving leading Japanese corporations.

IBLJ analysis:

Axiom5 is a specialist competition law firm advising clients on antitrust investigations, merger control, compliance, litigation and competition policy. Founded by Samir R Gandhi and Rahul Rai, the firm combines deep regulatory expertise with a commercially focused approach to complex competition matters.

Axiom5 acts for multinational corporations, technology companies, financial investors and market-leading businesses across a range of sectors including digital markets, consumer goods, pharmaceuticals, media, automotive, and financial services. Its experience spans high-stakes proceedings before the Competition Commission of India (CCI), appellate tribunals, high courts and the Supreme Court of India, as well as major merger clearance mandates and strategic compliance programmes.

The firm is also recognised for its contribution to competition policy and regulatory reform, with members having played an active role in shaping India's evolving competition law framework. The firm operates from Delhi NCR, Mumbai and Bengaluru through a technology-driven and collaborative model.

IBLJ analysis:

AZB & Partners has demonstrated strong capabilities across major practice areas through several high-value and complex mandates. In banking and finance, the firm advised KKR on its largest private credit investment in India, a USD600 million financing for the Manipal Group. In capital markets, AZB advised underwriters on Tata Capital's IPO, the largest by an NBFC in India to date, and on Hexaware Technologies' IPO, the largest technology services IPO globally in more than a decade.

In M&A and private equity, AZB advised Tata Motors on a USD13.7 billion demerger of its commercial vehicle business, and Siemens on a large-scale restructuring of its energy operations.

Rajiv Gandhi, company secretary and compliance officer at Bajaj Auto, said: "We engaged AZB & Partners last year for matters relating to compliance with listing regulations arising out of our acquisition and control of KTM, Austria, which is the largest and most reputable sports motorcycle company in Europe. We have found AZB & Partners' services to be of very high-quality standards, professional and solution-oriented."

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Bharucha & Partners has reinforced its capabilities through a structured practice model that integrates cross-sectoral expertise, technology adoption and homegrown leadership. The firm operates with a partner-to-associate ratio of 1:4, ensuring close supervision and hands-on learning; more than half of its partnership is internally developed.

On the mandates front, the firm represented: the BBC in a defamation litigation with USD1.2 billion exposure; Vodafone Idea in constitutional and regulatory challenges involving in excess of USD723 million; and Bharti Airtel in property tax disputes involving telecoms infrastructure.

In private equity, Bharucha advised General Atlantic on multiple deals, including a USD120.5 million acquisition in healthcare, a USD105 million fintech investment, and USD210 million pre-IPO exits. Other notable transactions include: Gemstar Infra's USD165 million cross-border investment in infrastructure; and InsuranceDekho's USD48.9 million multi-tranche fundraising involving international investors.

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BMR Legal has reinforced its position as a leading specialist tax law firm in India through strategic rebranding, expansion of its Mumbai office, and strengthening of its M&A tax practice. It has advised the Ministry of Finance on issues such as AI-related transparency in tax regimes, global digital tax frameworks, and regulatory reforms requiring enhanced compliance.

Notable mandates include acting as lead transaction tax adviser for the USD10 billion Holcim-Adani infrastructure deal; and representing clients before the Supreme Court on the taxability of advertising, marketing and promotion expenses, a precedent-setting matter in transfer pricing. The firm's professionals bring dual legal and accounting qualifications with expertise across multiple jurisdictions.

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In the past year, Bombay Law Chambers has advised on more than 200 client mandates across private equity, venture capital, venture debt, joint ventures and M&A, including complex matters involving warranties and indemnities insurance. In venture debt, the firm represented leading players such as Alteria, Trifecta, Stride, and Blacksoil in transactions including Stride's investments in Udaan, Wow!, Momo, and Stashfin.

In venture capital, notable deals included: advising Intangles Lab on a USD31 million fundraise; Bertelsmann on a USD40 million investment in Wiom; and Pre6 Tech on a cross-border restructuring and USD7 million fundraise. In private equity, the firm advised Value Quest on multiple investments including USD35 million into Rangsons Aerospace; USD45.4 million into Naffa Innovations; and acted for Redbrook in acquiring shares of the National Stock Exchange.

IBLJ analysis:

Bose & Mitra & Co is India's largest boutique shipping law firm and has played a central role in shaping maritime law and handling major disputes. In 2025, the firm advised on the implementation of The Carriage of Goods by Sea Act and The Bills of Lading Act, reflecting its involvement in legislative reform, and sponsored the 12th NLUO International Maritime Arbitration Moot to support legal education.

The firm has been engaged in every major maritime casualty in India in the past decade, including incidents involving vessels such as Wan Hai and MSC Elsa 3, and continues to advise the Indian maritime administration on a wide range of regulatory issues. This combination of legislative input, dispute resolution and advisory work underscores its position as a leading specialist in shipping and trade law.

IBLJ analysis:

BTG Advaya is a disputes and transactional law firm known for combining technical excellence with a commercially focused approach. Formed through the combination of BTG Legal and Advaya Legal, the firm advises domestic and international clients across a broad range of sectors including space, defence procurement, technology, financial services, energy, infrastructure, manufacturing, life sciences, retail and transport.

With offices in Mumbai, New Delhi and Bengaluru, BTG Advaya adopts a collaborative, partner-led model that emphasises accessibility.

IBLJ analysis:

C&S Partners strengthened its advisory capabilities with the appointment of Amar Patnaik as of counsel, with his extensive experience in public policy and technology laws, and extended its reach through the launch of a Mumbai office. Its disputes practice was particularly active, handling complex arbitration matters across infrastructure, energy and commercial sectors, including securing a favourable arbitral award of more than INR1 billion (US10.5 million) in a highway dispute against a government authority. Alongside high-value mandates, the firm also undertook pro bono representations for vulnerable individuals, reflecting a broader social commitment that complements its commercial success.

IBLJ analysis:

Chadha & Co advises clients on Indian corporate and commercial law, including the establishment and operation of various business structures, assisting clients throughout the incorporation process, from selecting an appropriate legal structure to meeting ongoing regulatory and compliance requirements.

The firm also advises on market entry and exit strategies in India. Its work includes establishing and maintaining liaison, branch and project offices for foreign entities, as well as advising on business closures, dormancy, winding-up of companies, and the closure of branch, liaison and project offices.

Founder Rahul Chadha is actively involved in mentoring startups. He is a charter member of The Indus Entrepreneurs (TiE) and a co-founder of the joint mentoring programme between the Indian Institute of Management Bangalore (IIM Bangalore) and the Indian Institute of Technology Delhi (IIT Delhi).

IBLJ analysis:

Chandhiok & Mahajan has demonstrated dynamic growth, expanding its partnership to 18 partners, half of whom are under the age of 40. An operational leap was the firm-wide implementation of Legora, an AI-powered legal research and drafting platform. Championing diversity, the firm instituted a formal policy to ensure merit-based promotions and recruitment, which is reflected in its strong female leadership.

Pooja Mitra, head of legal at BookMyShow in Mumbai, said: "Unlike other large firms, this firm always adds a personal touch and treats each matter like its own. Best part is it does not have a third party/consultant approach and is often considered as an extension of the in-house team rather than an external party. Very trustworthy, solution-oriented and personally invested."

IBLJ analysis:

IndusLaw's integration into the CMS network marked a defining step in its development. The firm expanded its Chennai office, added 13 equity partners, and developed technology tools including Jurisphere, Mike DocReview, InBot, Microsoft Copilot and Power BI dashboards.

Its AI practice advised companies such as Pidge, Kello AI, Mello AI and Pibit AI. The firm's data privacy team handled DPDP Act readiness for Delhivery, Canon India, MyGate, FedEx and others. It also advised on Zepto's USD450 million funding, major fintech product launches, and defence tech investments such as Raphe mPhibr and Digantara.

Yohei Koyama, partner at Mori Hamada in Tokyo, said: "We have engaged CMS INDUSLAW on a range of India-related matters, including cross-border M&A, joint ventures, and general regulatory advice. Overall, [the firm] provides competent support on India-related matters and is familiar with international transaction practices."

IBLJ analysis:

Established in 1830 and headquartered in Mumbai, Crawford Bayley & Company is one of India's oldest law firms. The firm also has offices in New Delhi, Ahmedabad and Bengaluru, and is supported by a team of more than 150 professionals, including 25 partners.

This year, the firm was awarded for its consistency in delivering exceptional results in the shipping and maritime law practice. Notable cases include The Board of Mumbai Port Authority v DSV Gerimal, which was conducted in the Bombay High Court in August 2025.

Crawford Bayley represented the vessel interests/defendants in this ongoing commercial admiralty suit concerning port claims and amendment of pleadings. The firm successfully opposed portions of the plaintiff's amendment application on procedural grounds under the Commercial Courts Act framework.

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Boutique New Delhi firm CSL Chambers has continued to grow its insurance and reinsurance focus, taking on several high-profile mandates across coverage, product structuring and claims advisory. Its recent work included advising an Indian insurer on a first-of-its-kind export factoring facility in foreign currency from GIFT City IFSC, handling a USD21 million fire claim under a comprehensive general liability policy, and assisting with the drafting of an insurance product aimed at micro, small and medium enterprises.

The firm also advised reinsurers on one of India's largest hull reinsurance claims, a fire loss of about USD220 million involving multiple reinsurance layers, cyber insurance product structuring in light of the DPDP Act, and a USD50 million warranties and indemnity policy claim connected to an M&A transaction.

IBLJ analysis:

With six offices across India and an international presence in GIFT City, Singapore and Abu Dhabi, Cyril Amarchand Mangaldas (CAM) has demonstrated its capabilities across practice areas including being a vital part of multiple IPOs, cross-border deals and investments.

CAM worked on some stellar deals in 2025, including: advising Lenskart Solutions and the company's promoters in Lenskart's USD821 million IPO; and advising Adani Enterprises and Adani Commodities on the sale of up to a 20% stake in AWL Agri Business (formerly Adani Wilmar) by Adani Commodities to Lence in a transaction valued at USD832 million.

The firm saw a massive number of new hires and promotions through the year, including Iqbal Khan, Mihir Rale and Rachika Sahay joining the firm.

I Bobby Majumder, a partner at FBT Gibbons in Dallas, Texas, said CAM is a "great firm with great lawyers. Very good bleeding-edge practices like fintech, as well as more traditional areas of expertise. Manan Lahoty and Sudhir Bassi are well-known quantities in the space."

IBLJ analysis:

Dentons Link Legal is a full-service corporate and commercial law firm with more than 300 professionals, including over 60 partners and 250 lawyers, across offices in New Delhi, Mumbai, Bengaluru, Chennai, Hyderabad and GIFT City.

The firm acted as transaction counsel to the Ministry of Coal and SBI capital markets in the implementation of seven coal and lignite gasification projects under the government's INR85 billion (USD1 billion) Coal Gasification Financial Incentive Scheme, a first-of-its-kind initiative.

Dentons Link Legal also successfully represented AU Naturel Beauty Private before Delhi High Court in a trademark dispute. The firm challenged an ad interim ex parte injunction issued by the commercial court. The court modified the injunction, permitting AU Naturel Beauty to continue using the brand. The matter has since been referred to mediation.

IBLJ analysis:

Founded in 1930, Desai & Diwanji is one of India's oldest law firms in India, with a longstanding reputation for advising on complex infrastructure, project development and financing transactions across sectors including transport, energy and urban infrastructure.

In 2025, the firm advised Porteast Investment Private, a promoter entity of the Shapoorji Pallonji Group, on a landmark INR286 billion (USD3.3 billion) financing transaction structured through secured, zero-coupon, redeemable non-convertible debentures. This transaction was India's largest private credit transaction to date.

The firm also acted for RG Mobility, backed by Resource Group, on a major electric public transport project for the Uttar Pradesh State Road Transport Corporation. The mandate covered corporate structuring, foreign investment compliance, project implementation, procurement processes and operational arrangements. The firm also advised RG Mobility on financing negotiations with Sberbank India working on the full lifecycle of such projects.

IBLJ analysis:

The practice areas around export controls and sanctions grew significantly for DGS Associates in the past year, with clients spanning defence, technology, semiconductors, industrial manufacturing and the space sector. The firm has also been advising leading South Korean steel companies including Posco, Dongkuk Steel, Dongbu Steel, Samsung C&T and Hyosung TNC.

Its work has focused on helping clients understand and implement export control and sanctions compliance programmes in commercially sensitive and highly regulated sectors. The firm also strengthened its profile through its founder partner, Ameeta Duggal, being appointed trustee and regional ambassador for Asia at the International Sanctions & Export Control Society (ISECS). In a further step, the firm entered into a strategic alliance with ISECS to help build a network of like-minded organisations across jurisdictions.

IBLJ analysis:

Dhaval Vussonji & Associates expanded its leadership from five to 10 partners and opened a new office in Lower Parel in the past year. In the banking and finance sector, the firm advised IDBI Bank's International Banking Unit; Piramal Enterprises; Aditya Birla Real Estate Fund; and RBL Bank. Its real estate team acted on Lodha Group's development of a 100-acre Alibaug township with an estimated value of INR237 billion (USD2.5 billion), and a 105-acre Pune township joint venture between the Hiranandani and Krisala groups.

Amit Baraskar, senior vice president & head at Thomas Cook India in Mumbai, said: "Dhaval Vussonji & Associates is the best-in-class firm I have come across in the APAC region. Thoroughly professional in the approach, the team can become a long-term bankable partner for any institution in the region. It is a firm truly deserving of international recognition and we feel extremely proud to partner with them."

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Dhir & Dhir Associates handled complex restructuring mandates, advising resolution professionals and stakeholders in insolvency proceedings involving significant asset value and regulatory challenges. This included advising the resolution professional of Alchemist Infra Realty; representation for successful resolution applicants of Jaypee Infratech; and proceedings for Unity Small Finance Bank involving HDIL and its guarantors.

The firm's capital markets work included supporting MSME IPOs including Influx Healthtech and Wagons Learning through due diligence and compliance. In parallel, the firm expanded its ESG advisory by assisting corporates and public entities in building sustainability reporting frameworks. By combining restructuring expertise with regulatory and ESG advisory, it continues to support both distressed asset resolution and emerging compliance obligations.

IBLJ analysis:

DMD Advocates strengthened its tax practice with the addition of Sherry Goyal as associate partner. Its aviation team advised Star Air on aircraft acquisition, sale and lease transactions; acted on Embraer aircraft leasing and sale documentation; and supported Jazeera Airways on aircraft maintenance and engine overhaul agreements.

In direct tax, the firm represented Vodafone India Services in a major transfer pricing dispute before the Supreme Court. On the indirect tax side, it acted for Tata Play in GST anti-profiteering litigation and Vodafone Idea in tax proceedings.

Urvashi Singh, head of legal affairs at boAt Lifestyle in Mumbai, said: "I recently engaged DMD for IP litigation and commercial arbitration. Both these matters were high-stakes and critical for my organisation. DMD Advocates were prompt, hands-on and solution oriented. Such quality stands out to clients as we need quick and positive results."

IBLJ analysis:

Marking 25 years in practice, DSK Legal expanded into Dubai and Abu Dhabi, initiated AI tool pilots, and continued to invest in talent. Its arbitration work included acting in a high-value ICC arbitration concerning engineering company Primetals Technologies; advising GAIL, a state-owned energy company, on treaty obligations; and representing MSA Global in cross-border arbitration on a public infrastructure surveillance project.

In international trade, the firm helped paint manufacturers secure the quashing of anti-dumping duty on titanium dioxide. Vaidya Ray, legal counsel of India operations at Fisher & Paykel Healthcare in Bengaluru, said: "As a client, what we value most is their unwavering accessibility and the 'hands-on' involvement of their partners, ensuring that even our most complex issues receive senior-level attention."

IBLJ analysis:

Dua Associates handled high-value transactional work including SWAMIH real estate financings and M&A mandates for Estée Lauder, Shell Group, Investcorp and others. In arbitration, the standout matter was its representation of the Union of India, acting through the Director General of Hydrocarbons that led to an award valued at about INR195 billion (USD2.04 billion), one of the highest-value arbitration outcomes in India in recent times.

In international trade, the firm represented the Royal Thai Government in an expiry review of countervailing duties on copper wire rod, helping Thai producers secure a nil rate for another five years.

Gaurav Dhingra, senior legal counsel & company secretary at Shell India Markets in Gurugram, said: "Overall, Dua Associates has been a reliable external counsel for litigation, land-related work and select corporate transactions in India, particularly where local insight and co-ordinated execution are required."

IBLJ analysis:

Economic Laws Practice strengthened its labour and employment practice through the acquisition of V Law Partners, and integrated Harvey AI and August, an AI legal assistant from VecFlow, into its workflows. In white-collar work, it represented Neelkanth Group in an investigation concerning alleged financial irregularities linked to a real estate fund.

Its competition team helped Google secure the first settlement under India's new settlement mechanism and obtained unconditional approval for Praana Group's acquisition of Owens-Corning's glass fibre reinforcement business. In trade, it acted for Hindustan Unilever, ATC Tires, Japanese steel producers and others in high-value investigations. Its tax practice handled major disputes for clients including Johnson & Johnson and Bajaj General Insurance.

IBLJ analysis:

Emerald Law Offices expanded its litigation practice with the appointment of Lakshya Gupta as partner, moved to a Delhi NCR office, and made its Bengaluru office fully operational. Its real estate team advised real estate company DLF on the purchase of listed, secured, non-convertible, redeemable bonds for an upfront value of INR8.2 billion (USD86 million) from Standard Chartered Bank (Singapore), DB International (Asia), and Deutsche Investments India, followed by enforcement of default and acquisition of secured lands, yielding a 7.5 million square feet project in a prime Gurugram location.

It also advised Birla Estates on a 131-acre sports city project in Noida, a luxury housing project on NH8 in Gurugram, and a large development transaction involving zoning and TDR issues. Other highlights included Godrej Properties' acquisitions in Gurugram and Panipat; ReNew Power's renewable land aggregation; and warehousing land mandates for Welspun One Logistics Fund.

IBLJ analysis:

Federal & Company's private client practice advises high-net-worth individuals and business families on trusts, succession, family settlements and philanthropic structures. Notable mandates in the past year included: establishing a private trust for Indian assets valued at about INR3 billion (USD31.4 million); estate and succession planning for similarly valued assets; an HUF (Hindu Undivided Family) partition and family settlement involving about INR5 billion; living wills and advance medical directives; and a charitable trust donation structure using a waqf model (an Islamic endowment). In real estate, the firm advised on family settlements, succession and development disputes involving property portfolios valued between INR2 billion and INR20 billion.

Sandhya Tolat, general counsel at Aarti Industries in Mumbai, said: "They have in-depth knowledge of disputes management and arbitration. They delve deeply into the matter, and are extremely focused and result-oriented."

IBLJ analysis:

Fidus Law Chambers strengthened its leadership through the appointment of Jhanvi Chadha as partner heading its Mumbai office, and the promotion of Priya Adhlakha to partner. The firm also continued to operate with ISO-certified quality and information security systems, supporting complex global IP portfolios and sensitive client data.

During the year, the firm remained focused on trademark strategy, prosecution, licensing and enforcement, with its partners and lawyers recognised across international IP platforms. Its growth was marked by an expanding geographic footprint, deeper leadership bench, and continued emphasis on robust IP management systems.

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Filfox Law Group, a securities law boutique, expanded from five to seven practitioners and continued to build a pan-India practice advising stockbrokers, investment advisers, research analysts, mutual funds, portfolio managers, depository participants, listed companies and other Securities and Exchange board of India (SEBI) registered intermediaries. It also created a dedicated SEBI inspection preparedness department, offering mock inspections, compliance gap analysis, real-time inspection representation and post-inspection remediation.

The firm is developing proprietary AI-powered software to map regulatory requirements against compliance documentation and flag gaps. Its matters included: a jurisdictional dispute on whether the SEBI can adjudicate alleged criminal liability parallel to Economic Offences Wing and Serious Fraud Investigation Office investigations; a challenge to the BSE's penalty powers under listing obligations and disclosure requirements (LODR) delisting during insolvency resolution valued at about INR35 billion (USD367 million); and broker liability for opportunity loss after a technical outage.

IBLJ analysis:

Fox & Mandal expanded its Mumbai and Bengaluru offices and invested in client outreach through newsletters, publications and a refreshed website and social media presence. Its policy and regulatory practice advised and represented clients before the Securities and Exchange Board of India, Competition Commission of India, Reserve Bank of India, National Green Tribunal, courts and arbitral tribunals, with work spanning environmental, white-collar, competition, financial and corporate enforcement matters.

In the past year, the practice added clients including Eastern Coalfields, CFM Asset Reconstruction, Turbotech Energy Services International, Terrafirm Softech, Department of School Education, Birla Corporation, JBM Ecolife Mobility, BigBasket and Apeejay House. Key matters included: Supreme Court proceedings for the State of West Bengal on MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) benefits exceeding INR50 billion (USD524.5 million); asset attachment proceedings; and environmental clearance challenges.

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Fox Mandal & Associates' real estate practice undertook residential, commercial and industrial work across sectors including logistics, IT and special economic zones. It also advised government agencies and trade associations on policy issues linked to industrial development.

Recent matters included advising ESR Group on the acquisition of 85 acres for a manufacturing park, including title and corporate due diligence and transaction documentation. The firm also advised Nambiar Ensemble Residential Projects on funding from Kotak Mahindra Investments, and acquisition and development of land in Bengaluru with a project value of INR75 billion (USD786.7 million). Another major mandate involved advising RenewSys India on a long-term lease of more than 700,000 square feet of industrial and warehousing space in Khalapur.

IBLJ analysis:

G&W Legal strengthened its TMT, IP and employment practices, acting for global technology companies, digital platforms, media networks, multinationals and international non-profits. Its IP enforcement work included representing Warner Bros Discovery in high-value commercial litigation against Star TV concerning broadcasting and commercial rights valued at about USD500 million, where it secured a temporary stay from a Delhi High Court Division Bench.

The firm also acted for GoFundMe and Abu Dhabi Global Market in trademark appeals before Delhi High Court; managed Orange Brand Services' trademark portfolio in India and Bangladesh; and advised global brands including Wendy's, Victoria's Secret, Bath & Body Works, United Biscuits, Beast Holdings and UnitedHealth Group on enforcement, portfolio management, opposition, rectification and brand protection strategy.

IBLJ analysis:

Gagrats, a long-established Mumbai firm, continues to advise across sectors including engineering, infrastructure, energy, mining, pharmaceuticals, healthcare, insurance, education, aviation, logistics, oil and gas, real estate, hospitality, defence and telecoms.

Its environment work included advising foreign and domestic entities and consortia on environmental law issues in India and overseas. In the nuclear power sector, the firm advised on the roles, responsibilities and liabilities of manufacturers and operators under bilateral agreements, international nuclear liability frameworks, and conventions dealing with nuclear damage, as well as Indian legislation affecting supply of equipment to nuclear power plants. It also advised infrastructure and engineering companies on environmental laws governing manufacture, inspection and commissioning, including liability for accidents involving industrial equipment and boilers.

IBLJ analysis:

Gravitas Legal added Ajay Kumar and Apoorva Chandra as partners and consolidated its Delhi teams into a new Jangpura office. In insolvency, the firm successfully represented ACCIL Hospitality before the National Company Law Tribunal. It also acted for personal guarantors in proceedings where applications by Indian Bank and the Central Bank of India were dismissed due to the interim moratorium under the Insolvency and Bankruptcy Code (IBC).

Other work included a Delhi High Court writ challenging section 60(1) of the IBC; representation for Nehru Place Hotels and Real Estates in delayed resolution plan proceedings; and acting in the corporate insolvency resolution process of Pavni (MP) Solar.

Paul-Bernard Poupon, managing director & founder at Anvoryn Holdings in Dubai, said: "Gravitas are really a one-stop shop for us and all our investments. Cost-efficient and very time conscious. I really have no comparison."

IBLJ analysis:

Hammurabi & Solomon Partners entered its 25th year, expanded in Hyderabad and Bengaluru, and strengthened its team through partner additions including Thanuja Palla and Siddhartha Patnaik. The firm's work included advising Embassy Property Developments in a Supreme Court special leave petition concerning assets valued at about USD362 million, where notice and a stay were secured.

It also assisted suspended directors of Gstaad Hotels in a National Company Law Appellate Tribunal appeal concerning alleged dues of about USD80 million, and advised on Freecharge's demerger of its non-payment aggregator business. In real estate, the firm handled disputes and diligence involving Embassy Property, Telecommunication Consultants India, Mahindra Lifespaces, Shree Cement, Puravankara, AG&P Pratham and Orbia.

IBLJ analysis:

HSA Advocates continued to advise on major infrastructure, energy, aviation, arbitration, finance and insolvency mandates. A representative mandate was advising the National Industrial Corridor Development and Implementation Trust on the Integrated Manufacturing Cluster at Hisar, under the Amritsar-Kolkata Industrial Corridor, to boost local manufacturing, which will be spread over about 2,988 acres and with investment potential exceeding INR320 billion (USD3.3 billion).

The firm also continued its long-running role for Vizhinjam International Seaport in relation to India's first deepwater transshipment hub being developed by the government of Kerala, advising on structuring, bid and concession documents, implementation, environmental proceedings, arbitration-related aspects, and a supplementary concession agreement to address delays and fresh investment.

IBLJ analysis:

With offices in Mumbai, Bengaluru, GIFT City and Delhi NCR, RegFin Legal has a team of more than 125 lawyers. Recent mandates include advising Fireside Ventures on its investment in home care products company Happi Planet as part of an INR180 million (USD1.8 million) fundraising round. It also assisted IndiaQuotient, one of the largest early-stage venture capital firms in India, on the formation and fundraising of its India and GIFT City funds with a combined corpus of about USD129 million, which included regulatory approvals, fund documentation and investor negotiations.

The firm houses the financial services practice originally founded in 2004, widely recognised for its regulatory expertise in investment funds, securities regulation, financial services disputes, GIFT City and exchange control laws.

IBLJ analysis:

Ikigai Law is a specialist law firm focused on technology and innovation-driven businesses. Its core practice areas include regulatory advisory, public policy, corporate law, data protection, venture capital, and intellectual property.

The firm developed a bespoke application for CCC, an international content production company, to facilitate informed data consent from individuals in rural communities who appear in its films, helping to ensure compliance with data protection requirements in challenging on-the-ground environments.

IBLJ analysis:

India Law Offices advised Tembo Global Industries, a publicly listed Indian industrial manufacturer, on its entry into India's defence sector through a strategic cross-border partnership with an EU company specialising in firearms and ammunition technologies. The work involved legal due diligence, structuring technology transfer and long-term buyback arrangements, and ensuring compliance with India's defence sector foreign investment, licensing and national security regulations.

The transaction was significant because it helped a listed Indian company establish domestic defence manufacturing capabilities in a highly regulated and strategically sensitive sector. It also supported technology localisation and capability building, aligning the client's plans with India's Make in India and Atmanirbhar Bharat initiatives.

IBLJ analysis:

Indian Law Partners (ILP) is a boutique full-service law firm with offices in New Delhi and Mumbai. The firm also has a non-exclusive best friend referral arrangement with global law firm Ashurst.

Indian Law Partners has advised on complex inter-jurisdictional corporate transactions, including those involving foreign direct investment and overseas direct investment. The firm has supported global conglomerates, financial institutions, PE firms and investment banks in structuring and executing FDI-related deals.

IBLJ analysis:

Inttl Advocare expanded physically and operationally, opening a litigation and regulatory-focused office in Panchsheel Park, New Delhi, launching an office in Kolkata, and enlarging its Noida hub. It also promoted four senior lawyers to associate partner.

Its enforcement work included representing Play Games24x7 in a Delhi High Court action against a disparaging advertisement ranking gaming platforms under a self-created "Responsible Digital Gaming Framework"; the court granted an ad interim injunction. The firm also: represented Informa Markets in a rectification petition leading to removal of a copyright registration for a generic "Virtual Expo" concept note; acted for Novartis in a trademark infringement matter; represented ITC in "NIMYLE" and "GOLD FLAKE" enforcement actions; and handled digital personality rights matters for Google involving Abhishek Bachchan and Aishwarya Rai Bachchan.

IBLJ analysis:

Noida and Delhi boutique firm InventIP Legal Services focuses on patent strategy, IP audits, drafting, filing and prosecution of patents, trademarks and designs, with relationships across multiple jurisdictions for global filing and prosecution. The firm differentiated itself through technical and prosecution expertise, particularly in drafting first filings for inventions originating in India and other jurisdictions before the Indian Patent Office, United States Patent and Trademark Office, European Patent Office and under the Patent Co-operation Treaty.

Its services include drafting and prosecution, national and international filings and renewals, oppositions and revocations, recordals, assignments, restorations, legal opinions and enforcement. The firm emphasises close client relationships, rapid responses and cost-effective advice, positioning itself as a strategic partner rather than merely a service provider.

IBLJ analysis:

In banking and finance, JSA advised on landmark transactions such as Sumitomo Mitsui Banking Corporation's acquisition of a 24.2% stake in Yes Bank, and large scale project finance packages including for STT Global Data Centres and National Highways. The capital markets team delivered precedent setting IPOs and equity raises, including for Biocon, NTPC Green Energy and Swiggy.

JSA's disputes practice is one of India's largest, with 39 partners and nearly 100 court practitioners. In corporate/M&A and PE/VC, JSA advised on strategic investments in regulated sectors, insurance joint ventures, technology acquisitions and healthcare consolidations.

Ken Lefkowitz, partner and deputy chair at Hughes Hubbard in New York, said: "I have 40 years of experience advising on mergers and acquisition deals. It is clear to me that our mutual clients view JSA as a vital partner in building their businesses, not just lawyers who advise on isolated legal issues."

IBLJ analysis:

In banking, Juris Corp advised: a consortium of 15 banks on credit facilities aggregating INR304 billion (USD3.18 billion) to Larsen & Toubro; Bajaj Auto International Holdings on financing for restructuring of Austrian motorcycle manufacturer KTM; and Shriram Finance on external commercial borrowings.

The firm's debt capital markets work included non-convertible debentures issuances for Patel Engineering, Tata Housing Development and a securitisation backed by life insurance policies for Valuenable. In insolvency, it represented National Asset Reconstruction Company in proceedings leading to admission of Haridwar Highways Project and Era Infrastructure to insolvency.

Rajnish Kumar, head of the legal & fraud control unit at IndiaFirst Life Insurance Company in Mumbai, said: "Compared to other firms we have worked with, Juris Corp demonstrates a deeper familiarity with Indian regulatory and enforcement environments while delivering advice that is clear, business-oriented, and actionable."

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Boutique firm K Singhania & Co continued to build on more than 25 years of specialised experience across arbitration, litigation, insolvency, IP, corporate, maritime and aviation law. Its shipping practice advised Shipping Corporation of India on operational legal issues across admiralty, maritime, employment and company law, including compliance during privatisation and demerger of non-core assets.

The firm represented Jindal Stainless in defending a USD750,000 claim concerning alleged vessel damage and wrongful cancellation under a charter party; advised India Kawasaki Motors on regulatory requirements for watercraft operations in India; and acted for clients in disputes involving cargo damage, forged bills of lading, withheld consignments, perishable cargo, vessel arrests and enforcement of a foreign arbitral award for Landmark Line before the Bombay High Court.

IBLJ analysis:

K&S Partners refreshed its leadership, with Sanjeev Tiwari retiring as chair of litigation and Prashant Gupta taking over from February 2026. The firm expanded into digital law, and patent and design valuation, while increasing its focus on AI, blockchain and biotechnology within the patent practice. The firm also invested in advanced IT systems and achieved ISO 27001:2022 ISMS certification.

Recent patent prosecution highlights included securing a grant for Tata Steel by addressing new inventive-step objections for Saint-Gobain Glass France despite an objection per the Indian Patents Act, 1970, and using economic significance arguments to support another Tata Steel metallurgy patent application.

Ravi Srinivasan, a partner and patent attorney at JA Kemp in London, said: "We usually use K&S for prosecution work - obtaining patents before Indian Patent Office. They are responsive and provide good quality advice and are at the top end of the legal expertise in this area available in India."

IBLJ analysis:

Sumeet Kachwaha is the founding partner of Kachwaha & Partners, with close to five decades of experience in dispute resolution and arbitration. In a recent case, Delhi High Court dismissed Metals and Minerals Trading Corporation of India's appeal challenging the rejection of its suit seeking to declare a 2008 coal supply addendum and a 2014 arbitral award void on grounds of fraud and corruption.

The court held that the arbitral award had already attained finality after being upheld by the Supreme Court. It found the suit barred by law, characterised it as an abuse of process, and affirmed that allegations of fraud could not be used to reopen a dispute that had been conclusively resolved through arbitration and subsequent judicial proceedings. Sumeet Kachwaharepresented the defendants.

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Kanga & Company's capital markets practice, led by senior partner Chetan Thakkar, advised across pharmaceuticals, engineering, retail, construction, food and beverage, IT, portfolio management, broking, NBFC and other sectors. The firm assisted listed and pre-IPO stage companies with offer documents, Securities and Exchange Board of India and stock exchange filings, due diligence, special rights restructuring and IPO compliance, including mandates for Vikran Engineering, Borana Weaves, Shanti Gold International, Dev Accelerator and multiple proposed IPOs.

In real estate, the firm represented Gandhinagar Federation, comprising more than 19 co-operative housing societies and 570 members, in a Bandra redevelopment valued at more than INR30 billion (USD314.7 million). It also advised on the Taj Villa redevelopment, high-value Worli and Nepean Sea Road transactions, and title reports for major Mumbai projects.

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Karanjawala & Co, a disputes-only firm, continued to act in high-stakes litigation and arbitration for corporates, individuals, public figures and major business groups. In arbitration, it represented Hero Future Energies in a petition under section 11(5) of the Arbitration and Conciliation Act, 1996, filed by its former CEO, achieving settlement and closure. It also represented Raheja Developers in a challenge under section 34 of the arbitration act, securing permission to amend the petition to raise a jurisdictional ground linked to expiry of the tribunal's mandate.

The firm also acted for Varindera Constructions in defence infrastructure disputes, and Landmark Property Development in enforcement of an arbitral award. Its litigation work included enforcement proceedings for Kal Airways and Kalanithi Maran against SpiceJet, and proceedings for Tata Motors against Employees Provident Fund Organisation over pension fund transfer.

IBLJ analysis:

Khaitan & Co has reinforced its position as one of India's leading full service firms with 230 partners and offices in seven Indian cities and Singapore. This year the firm advised on IPOs for Meesho, Knowledge Realty Trust, NSDL, JSW Cement, and Vikram Solar, alongside major debt issuances for Vedanta, IIFL, REC and State Bank of India.

Khaitan & Co's corporate/M&A practice handled high value transactions such as: Temasek's Schneider Electric divestment; Torrent Pharmaceuticals' acquisition of JB Chemicals; Brookfield's Ecoworld REIT acquisition; and JSW Paints' acquisition of Akzo Nobel India.

Robert Appelbaum, executive consultant at Webber Wentzel in Johannesburg, said: "They are a full-service firm and have experts across the board. Their service is impeccable and they are very business-like."

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King Stubb & Kasiva is a Delhi-based firm that provides comprehensive legal solutions to institutions, ed-tech companies and stakeholders.

The firm supports the education sector by securing licences and regulatory approvals, ensuring institutions meet compliance requirements. It also provides due diligence, dispute resolution and data protection compliance services to safeguard operations and mitigate risks, and it drafts and vets sector-specific agreements, offering legal clarity and protecting institutional interests.

The firm was a WINNER in IBLJ's Deals of the Year for its representation of IT company Thoughtsol Infotech, establishing the "dominant partner test" to determine the significant participation of an entity. In another winning matter, the firm obtained a restraining order against app-based cab services company Gensol & BluSmart for its client, Sumitomo Mitsui Auto Service, protecting the fleet of cars that it leased from being sold.

Anubhav Kapoor, general counsel and senior vice president at auto components company Samvardhana Motherson International, said the firm has an "excellent practice".

IBLJ analysis:

Delhi-headquartered KNM & Partners advises on high-value disputes and financing transactions across real estate, infrastructure, corporate and financial services. In arbitration, it represented Uppal Housing in an apartment buyer dispute brought by a former Indian cricketer; advised shareholders Shantanu Jain and Sania Jain in a dispute valued at INR1.9 billion (USD19.8 million); and acted for Hindustan Construction Company in arbitrations involving claims of INR2.7 billion plus EUR2.66 million (USD3 million) and counterclaims of INR7.3 billion linked to the Kishanganga Hydroelectric Project. In banking and finance, the firm advised real estate company Saya Hi-Tech on INR1.7 billion listed secured non-convertible debentures (NCDs); real estate development company Finest Promoters on loan facilities of up to INR5.7 billion; real estate JV Unity Parsvnaths on a INR4 billion term loan investment; and other developers on NCD issuances.

IBLJ analysis:

Kochhar & Co has established a strong reputation in international trade by representing multinational corporations in complex anti-dumping, anti-subsidy, safeguard duty and cross-border trade disputes. The firm is a regular contributor of thought leadership in the international business space focused on trade with Japan.

In labour and employment, the firm advises on compliance with federal and state laws, employment agreements, HR policies and benefit schemes, while also handling union negotiations, workforce reductions and employee litigation. It further supports clients on diversity and inclusion matters, sexual harassment complaints, and conducts training programmes on employment law and workplace sensitisation.

Raghuvendra Singh Dundlod, president at the Rajasthan Equestrian Association, said the firm is "very efficient, prompt and arguments are well explained".

IBLJ analysis:

Krishna & Saurastri Associates has completed its transition from a boutique IP practice to a full-service firm and operates through its Intellectual Property and General Practice divisions with offices across Mumbai, Bengaluru, Pune, Chennai, Ahmedabad and New Delhi, with a Hyderabad office in the works.

It expanded to a 200-person team and grew its general practice in arbitration, commercial litigation, real estate, insolvency and private client work. Its IP enforcement practice filed and represented more than 80 new commercial suits before the Supreme Court, Bombay High Court, Delhi High Court and Madras High Court across trademark, copyright, design, patent infringement, passing off and unfair competition. The firm also issued more than 2,000 legal notices and handled trials, appeals, rectifications, revocations and oppositions.

Jeganathan Pasupathy, general manager at textile machinery manufacturer LMW in Coimbatore, said the firm is "strong in patent drafting, prosecutions and getting grants".

IBLJ analysis:

Lakshmikumaran & Sridharan (LKS) has built strong institutional capabilities by embedding technology and structured systems. The firm developed GSTAT, a proprietary GST intelligence platform that integrates precedent mapping, issue level analysis and workflow support, enabling faster and more consistent advisory and litigation strategies. It has also re engineered its Employment Law practice and launched a dedicated Labour & Employment microsite.

Its international trade team, a pioneer in WTO and trade remedy law in India, handled nearly 45 investigations in 2025, and has represented clients in more than 500 investigations across sectors, while also advising governments on WTO disputes and free trade agreement negotiations. In taxation, recent notable matters include securing favourable rulings for: Nord Anglia Education on income classification; Pascal Postel on penalties under the Black Money Act; and Indus Towers and Dell International Services in GST disputes before the Madras High Court.

IBLJ analysis:

Lall & Sethi increased its workforce by 5%, added a partner and upgraded its IT infrastructure with an enhanced cloud server environment. It continued to represent global brands, including 17 brands appearing in the Interbrand Best Global Brands List 2025.

Its IP enforcement team secured favourable outcomes in oppositions, rectifications, infringement disputes, passing off actions and brand protection matters. Key matters included: Birkenstock IP v Ashok Kumar; Johnson & Johnson v Pritamdas Arora; Pidilite Industries v Ashok Kumar; Reckitt Benckiser Health v Ashok Kumar; and Unilever v Ashok Kumar. The firm also deepened India-Japan IP engagement, working with the Consulate General of India Osaka-Kobe and Japanese institutions on seminars about legal and IP strategies for Japanese companies.

IBLJ analysis:

Lex Consult is a Mumbai-based firm consisting of a lean team led by five partners that focuses on transactions, advisory and disputes. The firm is young and has a collaborative and partner-driven approach towards their clients' needs with a drive to deliver clarity, accountability and value in their work.

In the past year, the firm has advised on multimillion-dollar series fundraising and investments for companies active in the areas of: healthtech and medical devices; apparel focused on medical settings; space and defence; artificial intelligence supply chain platform; and others.

IBLJ analysis:

LexCounsel expanded its operations into Ahmedabad, has plans to open a Hyderabad office, and has hired associates and promoted lawyers to senior positions. Its education practice advised: Allen Career Institute on establishing and operating a K-12 school in Haryana; Ryan International Group on arrangements for four Royal Grammar Schools in India; Genesis Global School on restructuring and outsourcing school operations; and a wide range of schools, universities and education groups on regulatory, tax, governance, outsourcing and affiliation issues.

In life sciences, the firm advised clients including Pfizer, Stanford Health Care, Takeda Pharmaceuticals, Google-owned life sciences company Verily, Apple, health-tech company IQVIA, and Boston Scientific on drugs, devices, clinical trials, telemedicine, health data, registrations, collaborations and regulatory compliance.

IBLJ analysis:

LexOrbis strengthened its team across patents in life sciences, pharmaceuticals, electronics and AI, as well as trademarks and IP enforcement, while expanding into Hyderabad and Pune. It also invested in IP management and docketing systems, client teams and portfolio analytics. In the past year, the firm handled a high volume of patent drafting, filing and prosecution across pharmaceuticals, biotechnology, AI, electronics and engineering.

It advised on pharmaceutical formulations, biologics, polymorphs, life sciences and AI-based innovations, with particular attention to computer-related invention patentability in India. Its trademark practice managed global portfolios for multinational and emerging brands, including clearance, prosecution and international filings, while its design practice supported protection for consumer electronics, medical devices and lifestyle products.

IBLJ analysis:

Luthra and Luthra continued to advise on complex infrastructure, energy, finance, corporate and disputes mandates while investing in research platforms and AI tools for knowledge management, due diligence and document review. Its environmental and climate work focused strongly on voluntary carbon markets and climate finance.

It advised an Indian carbon project developer on a cross-border carbon credit development and offtake arrangement with a major Japanese conglomerate, covering project development, verification, issuance and sale of credits under standards such as Verra and Gold Standard. The firm also advised on afforestation-linked carbon credit transactions; a European automotive group's indirect entry into India's carbon market; a large agroforestry initiative in the Cauvery basin; and renewable energy carbon credit sourcing and monetisation arrangements.

IBLJ analysis:

Maheshwari & Co expanded its disputes and corporate advisory practices, handling cross-border arbitration, insolvency proceedings involving Jet Airways, strategic acquisitions, and advisory work in emerging sectors such as online gaming, AI and digital platforms. Its gaming work included advising a real-money fantasy gaming platform on India's regulatory framework for fantasy, casual, puzzle, strategy and arcade games. The firm prepared legal opinions analysing gaming and gambling laws, supported Google Play Store approvals, and assisted onboarding with payment gateways by demonstrating that the relevant products qualified as games of skill.

It also advised cricket fantasy and number-based fantasy gaming platforms on launch strategies, foreign exchange, taxation, corporate compliance and platform approvals, helping clients navigate a fast-changing and legally sensitive sector.

IBLJ analysis:

MZM Legal strengthened its team with a chief technology officer and two partner elevations, while continuing to focus on white-collar crime, disputes, labour, insolvency and real estate. In white-collar work, it represented Byju's in Enforcement Directorate adjudication proceedings under the Foreign Exchange Management Act (FEMA) involving alleged contraventions of about INR97.5 billion (USD1 billion).

The firm advised BharatPe in criminal proceedings against its former managing director and others concerning alleged misappropriation of more than INR810 million; and acted for Indian crypto exchange WazirX in investigations linked to a cyberattack causing losses of about USD230 million. Its employment practice advised on policies, internal investigations, misconduct, workforce restructuring, disciplinary processes and disputes before labour courts and regulators, often intersecting with governance, ESG and regulatory issues.

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Naik Naik & Co is a specialist law firm with a strong focus on the media and entertainment industry, advising leading global media conglomerates, production houses, broadcasters, music labels and high profile celebrities. Its work spans intellectual property, content creation and distribution, regulatory compliance and dispute resolution. The firm's deep expertise and consistent engagement with major industry players underscore its reputation as one of India's foremost legal practices in this space.

The firm is particularly active in ensuring protection of personality rights of Indian celebrities. Naik Naik & Co's managing partner and founder, Ameet Naik, and deputy managing partner, Madhu Gadodia, represented the Bollywood actress Aishwarya Rai, protecting her privacy and personality rights before Delhi High Court. The firm recently elevated Malabika Boruah to partnership and appointed Stuti Shetty as chief operating officer.

IBLJ analysis:

Nishith Desai Associates is a Mumbai-based firm that functions as a non-hierarchical and democratic organisation that leverages research and knowledge to deliver value to clients. The firm has a well established Technology & Telecommunications practice, advising global clients on areas such as IoT, e commerce, cross border investment structuring, data protection and regulatory approvals.

It provides comprehensive support in employment law compliance, intellectual property protection, and drafting a wide range of technology and outsourcing agreements, alongside conducting due diligence for business process outsourcing (BPO) and IT services investments. With a client roster that includes Amazon, Google, Facebook, Flipkart, Cisco and eBay, the practice is recognised for its ability to navigate complex legal, tax and regulatory challenges in India's rapidly evolving technology and telecoms sectors.

IBLJ analysis:

Nora Chambers has invested in legal AI and litigation management software and continued to act for one of India's five large commercial airlines, advising across the lifecycle of its aviation operations. Its practice spans contract management, consumer disputes, employment issues, constitutional litigation and regulatory matters before high courts and the Supreme Court.

The firm commented on proposed revisions to the Directorate General of Civil Aviation's Civil Aviation Requirements on airline ticket refunds, covering refund timelines, intermediaries' roles and proportionality of obligations. It also acted in policy-based litigation on unruly passenger protocols, cancellation charges, refund regimes, and connectivity to regional airports under the government's UDAN scheme. The firm also managed a substantial consumer disputes portfolio involving refunds, no-shows, denied boarding, cancellations and alleged deficiency of service across India.

IBLJ analysis:

Obhan Mason is a Delhi-based boutique firm with a well-balanced domestic and international clientele representing a cross-section of industries. The firm's IP practice ensures protection for its clients facilitated by its network in India and throughout the world.

Obhan Mason represented pharma company Frimline and La Renon Healthcare in their successful action against K-Smatco Lifesciences before Delhi High Court, securing an interim injunction in a suit alleging infringement of a patent for an anaemia-treating pharmaceutical composition. The firm was previously known as Obhan & Associates, and joined its operations with Mason & Associates to become Obhan Mason in December 2025.

IBLJ analysis:

P&A Law Offices strengthened its mid-level ranks through internal progression to partnership and continued to act in major commercial transactions and disputes. Its competition practice represented Bharat Forge in securing CCI approval for its acquisition of AAM India Manufacturing Corporation after a Phase II investigation, with behavioural commitments including hold-separate obligations, information barriers and independent operations.

The firm also represented the CCI before the Supreme Court in the Schott Glass matter, resulting in a key judgment requiring effects-based analysis in abuse of dominance cases, and addressing volume-based discounting. Other mandates included representing: Ericsson on the interface between competition and patent law; Amazon in proceedings concerning suspension of a prior CCI approval; MakeMyTrip in digital platform proceedings; and Tata Steel in a steel sector cartel investigation.

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Phoenix Legal is a full service Indian law firm with offices in New Delhi and Mumbai, known for its integrated approach across transactional, regulatory, advisory, dispute resolution, tax and competition law. In the past year, the firm has expanded its competition and M&A practices, added a dedicated insolvency and restructuring team, and adopted legal focused AI tools to improve efficiency in document review, diligence and contract analysis. Its work includes advising on complex merger control assessments, antitrust litigation, and representing clients in landmark abuse of dominance cases in sectors such as energy, healthcare and manufacturing.

The firm is strong in insolvency and restructuring, and advised on the resolution of Reliance Capital and plans for Jaiprakash Associates. In M&A, Phoenix Legal advised Lunate's pre IPO stake acquisition in ICICI Prudential AMC; Nippon Light Metal's joint venture in aluminium recycling; and Apis Partners' investment in Cashfree.

IBLJ analysis:

Pier Counsel is a boutique law firm based in Gurugram that advises startups on corporate, regulatory and cross-border matters, helping them navigate complex legal frameworks. The firm supports founders through investment transactions and funding rounds, from term sheet negotiation to closure. The firm is a regular adviser to its clients on international investments, joint ventures and multi-jurisdictional regulatory issues.

Among their transactions, Pier Counsel represented investment company Artha Group (Artha Venture Fund II) in their investment in Cheerio AI. It also advised Unicorn India Ventures in its seed funding round for their investment in the space-tech startup SatLeo Labs. The company raised USD2.2 million with Unicorn India leading the funding round. The firm also advised Unicorn India in its investment in SaaS-based healthcare platform Zealthix where the company raised USD1.1 million.

IBLJ analysis:

PLR Chambers advises a diverse mix of public and private sector clients. On the government side, its work includes mandates for ministries and departments of the Government of India, Coal India, and the National Highways Authority of India. In the private sector, the firm has represented leading companies such as Boehringer Ingelheim India and Novartis, underscoring its capability in managing complex regulatory and industry-specific matters.

Constantinos Salonidis, a partner at Foley Hoag in Washington DC, said: "[I was] co-counsel in a high-profile investment treaty dispute with the firm. I was consistently amazed by their level of professionalism and diligence."

IBLJ analysis:

Now in its 30th year, Bengaluru-headquartered firm Poovayya & Co has invested in practice management technology, expanded its accounts and business development teams, and continued to advise on major disputes and real estate transactions.

Its real estate work included advising GMR Group on the acquisition of about 30 acres in Bengaluru for its first residential development project, involving detailed title diligence, land use and approval analysis, and transaction structuring. The firm also advised Titan Company on the acquisition of about 6.5 acres in Bengaluru to expand its manufacturing facility, addressing title, revenue records, encumbrances and industrial land use compliance.

It continues to advise Tablespace Technologies on enterprise workspace transactions across India. The company is a premier managed office service provider with more than 10.5 million square feet of workspace across more than 75 centres in multiple cities, and a client base that includes several Fortune 500 companies. The engagement involves advising on the acquisition and leasing of large commercial office premises across multiple cities.

IBLJ analysis:

PSA has opened a Mumbai office, strengthened its team with associate and senior associate hires, and continued to build secure online and offline server infrastructure for client data. Its M&A work included advising an NYSE-listed multinational on the divestment of its Indian business to a Japanese office furniture manufacturer, covering structuring, labour and employment, IP, transitional arrangements and Foreign Exchange Management Act (FEMA) issues.

PSA also advised a North American water and wastewater technology company on the Indian leg of a global sale of its electronics division, involving a carve-out and transfer of the Indian electronics design business. Other highlights included advising an Indian defence company on a strategic joint venture with a European defence technology company; and assisting a Chinese manufacturing conglomerate on the Indian leg of a global technology acquisition in a Dutch company specialising in LED display technology and solutions.

IBLJ analysis:

PSL Advocates and Solicitors recorded strong growth across arbitration, disputes, restructuring and real estate, with insolvency claims handled increasing by about 200%, and real estate land area represented increasing by about 275%. In corporate and commercial disputes, the firm advised state company DFCCIL (Dedicated Freight Corridor Corporation of India) on FIDIC (International Federation of Consulting Engineers) contract interpretation, concurrent delay, risk allocation and change-in-law issues; and represented Dubai-based trading firm RSMM General Trading in a USD20 million cross-border dispute with Honasa Consumer.

PSL also acted in infrastructure, telecoms, tax and technology disputes across courts and arbitration forums. In insolvency, the firm represented Noida city authority in the landmark Amrapali matter involving diversion of more than over INR230 billion (USD2.42 billion) of homebuyers' funds and large-scale project delays. It similarly represented Noida in proceedings relating to large real estate companies Unitech and Supertech; advised Aksa Enerji in liquidation-related proceedings; and appeared in matters concerning Bhushan Power & Steel, avoidance transactions and creditor rights.

IBLJ analysis:

Rahul Chaudhry & Partners expanded through lateral hires and internal promotions while continuing to handle complex patent, trademark and copyright matters. In IP enforcement it represented Reckitt Benckiser in an action against use of a bird device similar to its Robin marks; the Coca-Cola Company against a local competitor using trademark and trade dress similar to its "Minute Maid Pulpy Orange" product; Colgate-Palmolive in a disparagement matter involving an Instagram reel; Info Edge in an appeal concerning a trademark application; and Hero MotoCorp in an ex parte injunction and local commissioner action against infringing goods.

Its patent litigation included matters for Officine Maccaferri involving protective metal netting systems and anchoring members used in stabilised earth structures, one of which settled with damages of INR1.9 million (USD20,000).

IBLJ analysis:

Remfry & Sagar refurbished all four floors of Remfry House, preserving its 200-year legacy while creating a modern, technology enabled workspace. About 15-20% of all inbound IP work in India is handled by the firm, underscoring its central role in assisting applicants with patent and trademark filings. The firm has also grown in areas such as patent drafting, IP and patent litigation, and fashion and luxury law, reflecting its ability to adapt to emerging client needs.

Its litigation practice is substantial, with 25 attorneys managed by six partners, each bringing 15-25 years of experience. The team handles enforcement of trademarks, copyrights, designs, patents and geographical indications, including infringement suits, passing off, unfair competition, and criminal enforcement actions against piracy and counterfeiting. It also manages domain name disputes, border control measures and commercial litigation across jurisdictions, while offering ADR through arbitration, mediation and conciliation. This capability ensures coverage across contentious and non-contentious IP matters.

IBLJ analysis:

Renata Partners is a boutique Mumbai-based law firm focusing specifically on maritime and commercial litigation actively engaged in transactional, advisory, dispute resolution, and consultancy services.

The firm regularly advises P&I (protection and indemnity) clubs, ship owners, charterers and traders on vessel arrests, cargo claims, bunker disputes and charterparty issues. Its capabilities extend to ship sale and purchase, salvage claims and handling both dry and wet shipping matters in domestic and international jurisdictions.

Among the firm's recent maritime work, it advised the plaintiffs in a matter before the Bombay High Court's admiralty bench, in Irwin Edmund Sequeira and Ors v Sale Proceeds of the vessel MV Karnika. The matter related to the plaintiffs seeking claims from the vessel's sale proceeds. The firm also acts for CMA CGM - the third-largest container shipping company in the world - in a number of matters, one of these being the ongoing matter of San Marine Exports v MV CMA CGM Titus and others, where the plaintiff sought the arrest of the vessel MV CMA CM Titus.

IBLJ analysis:

Rex Legalis has built a strong practice in the energy and maritime sectors, with particular focus on oil and gas operations across India and Singapore. In maritime law, the firm has significant experience in arbitration and admiralty matters. It has represented charterers in international maritime arbitrations in Hong Kong and Singapore, handling disputes under charterparty arrangements, cargo handling obligations and stevedoring liabilities. The practice also includes vessel arrest proceedings under the Admiralty Act, 2017, with successful arrests across major Indian ports. The team manages urgent filings, co-ordinates with port authorities and advises on enforcement strategies including maritime liens and interim relief. Its work spans both initiating and defending vessel arrests.

Akshay Misra, managing associate of marine trade and aviation at Penningtons Manches Cooper, said: "Compared with other Indian firms I have used, Rex Legalis stands out for its responsiveness, pragmatic advice, and ability to communicate complex Indian legal issues with clarity for international clients."

IBLJ analysis:

Established only in late May 2025, RJD & Partners has rapidly built a full-scale real estate and litigation practice in Mumbai, setting up its infrastructure, digital systems, compliance framework, knowledge management and secure document protocols from scratch. It transitioned core real estate, litigation, arbitration and white-collar teams into the new platform, enabling immediate handling of major mandates.

Within its first year, the firm acted in complex real estate disputes, urgent injunction matters, commercial conflicts and writ proceedings before the Bombay High Court and Supreme Court. It also handled three international arbitrations, domestic arbitrations across real estate and infrastructure, and cross-border proceedings involving the UK, the US District Court for the Eastern District of North Carolina, and ICC arbitration.

IBLJ analysis:

S&A Law Offices is a full-service firm with more than 300 professionals including lawyers, chartered accountants, company secretaries, patent and trademark agents, and industry experts. Recent expansion into Ahmedabad strengthened its dispute resolution capabilities in western India, while integration of Harvey AI into workflows has enhanced research, drafting, eDiscovery and compliance efficiency.

Its energy practice is notable for advising on complex projects across thermal, renewable, mining, transmission, and downstream operations, with expertise in regulatory navigation and dispute resolution before tribunals and courts. The insolvency and restructuring team is recognised for sector-specific strategies including the reverse CIRP (corporate insolvency resolution process) model in real estate, and has managed large restructurings and multi-party disputes across industries such as telecoms, EV and construction.

The tax practice covers both direct and indirect taxation, offering advisory, compliance, and litigation support, with experience in structuring high-value projects and resolving GST disputes with sector-wide impact.

IBLJ analysis:

S&R Associates has added Savani Gupte as a retained partner in Mumbai in its litigation and arbitration practices. The firm advised MakeMyTrip as special Indian legal counsel when the company made a USD2.8 billion primary equity offering, and also Fortis Healthcare and Fortis Malar Hospitals on the acquisition of public shareholdings.

S&R represented Freight Commerce Solutions in the acquisition of about 18% of its share capital by Tata Motors. The firm also represented Pilani Investment and Industries Corporation, a listed investment holding company of the Aditya Birla Group, in its INR5 billion (USD52.5 million) issuance of listed non-convertible debentures on a private placement basis.

Ida Suryati Rahim, group general counsel at IHH Healthcare in Kuala Lumpur, said: "IHH Healthcare typically engages S&R Associates in connection with complex India-related legal and regulatory matters. We have enjoyed working with [partners] Sandip Bhagat, Rajat Sethi, Niti Dixit, Savani Gupte ... given their strong technical expertise, commercial awareness, and responsiveness."

IBLJ analysis:

Saga Legal strengthened its leadership through the hiring of partners Nishtha Kumar, Roshan D'Souza and Gaur Vara, and continued to build capabilities across corporate, disputes, IP, technology and insolvency. Its startups practice advises emerging and high-growth companies from incorporation to scale, funding and exit, supporting entity formation, founder agreements, governance, regulatory compliance, data protection, cybersecurity, venture capital financing, IP strategy, commercial contracts and disputes.

The firm has worked across fintech, e-commerce, SaaS, deep-tech and healthcare, offering sector-specific and cost-effective legal solutions. Recent startup clients include Kouzina Food Tech, Sanlayan Technologies, One Suite Technologies, Doodley Pets, Enerzolve Smart Technologies, Blurgs AI, Raven AI, ADSD Healthcare and Uno Care, reflecting a practice focused on founders, innovation-led businesses and scalable legal frameworks.

IBLJ analysis:

With 48 partners and associate partners, and supported by a team of more than 200 lawyers, Saikrishna & Associates advises a diverse portfolio of Indian and international clients. The firm is particularly recognised for its sector-specific expertise across media and entertainment, telecoms, pharmaceuticals, software and artificial intelligence, automotive, FMCG, publishing, real estate and energy.

One of Saikrishna & Associates' notable successes in 2025 was its representation of Star India in Sunil Saberwal v Star India Pvt Ltd & Ors before the Bombay High Court, where the court refused to grant an interim injunction. Film producer Sunil Saberwal unsuccessfully sought to restrain the release of Star's web series, Lootere, because it shared the same name as a film he made in 1993.

IBLJ analysis:

Samvad Partners had a dynamic year across corporate, disputes, employment, white-collar and pro bono work, while maintaining a leadership structure with 12 women among 20 partners. Its key hires in 2025-26 were partners Aditya Gupte from Tuli & Co, Jagriti Mohata from Shardul Amarchand Mangaldas & Co, and counsel RV Goutham who joined as a partner from Trilegal. Firm-wide promotions in 2025 included three principal associates to counsel and six senior associates to principal associate.

The firm's knowledge work covered labour codes, data privacy, fintech regulation, insolvency, IP, FDI, online gaming and India-Japan investment. Its practice mix included domestic and cross-border M&A, private equity, venture capital, mediation, domestic and international arbitration, anti-sexual harassment advisory, and white-collar matters. Samvad's continued recognition in ESG, FDI, internet and e-commerce, and pro bono reflects both transactional depth and a wider commitment to responsible business and public-interest work.

IBLJ analysis:

Saraf & Partners became the first Indian law firm to adopt a secure closed AI network, and added disputes partner Gauhar Mirza. Its banking team acted for a 25-lender consortium led by the State Bank of India (SBI) on a INR540 billion (USD5.7 billion) debt assignment for the conglomerate Jaiprakash Associates; and for SBI-led lenders on a INR489 billion financing for Bharat Petroleum's Bina petrochemical complex. In insolvency, the firm advised Adani Power on acquiring KSK Mahanadi power company. Its M&A work included L&T Power's INR68 billion divestment of Nabha Power.

Koustubh Ghonge, associate vice president at SBI Capital Markets in Mumbai, said: "The team is very professional. Typically, these are high-pressure transactions and we need to turn around the documentation very fast."

Kuntal Parikh, general manager at Adani Enterprises in Ahmedabad, said: "Their acumen, responsiveness and ability to navigate certain structured transactions have been instrumental in the successful execution of multiple mandates."

IBLJ analysis:

Sarthak Advocates & Solicitors added the former VP of legal at Sterlite Power, Tarun Bhattacharya, as a partner and continued to advise clients in energy, infrastructure, education, finance and renewables. In arbitration, it represented Bharat Heavy Electricals in a USD520 million turbine generator dispute.

Its corporate & commercial highlights included advising on a waste-to-energy project involving municipal solid waste conversion into compressed biogas and bio-manure; SNAP Energy on cross-border industrial equipment supply; and project financing from IREDA for a solar project in Uttar Pradesh. In energy, the firm advised on renewable acquisitions, captive and group captive transactions, EV charging, biochar projects, and India's first OTC electricity trading platform. As part of its M&A work, it advised Waaree Energies on its acquisition of Enel Green India and its special purpose vehicles, which involved structuring a complex M&A transaction involving multi-entity assets, lender consents, and regulatory considerations.

IBLJ analysis:

SD Partners handled mandates exceeding USD1 billion in aggregate value, spanning acquisitions, strategic investments, joint ventures, restructuring and insolvency-linked transactions. Its insolvency work included: acting as legal adviser to the State Bank of India in the CIRP of Jaiprakash Associates, involving claims of about USD65 billion; advising the resolution professional and monitoring committee of McNally Bharat Engineering in its CIRP and implementation disputes; acting for the resolution professional of Simplex Projects; and securing a ruling for Axis Bank in proceedings involving Birla Tyres. SD also advised Jindal Power on its USD60 million acquisition of Bhadreshwar Vidyut under the Insolvency and Bankruptcy Code. The firm also elevated Kanishka Prasad and Ishita Srivastava to associate partners.

Vandan Bajaj, analyst at National Investment and Infrastructure Fund in Mumbai, said: "SD Partners stands out for its strong expertise in restructuring and insolvency matters and its ability to provide commercially sound and strategic legal advice."

IBLJ analysis:

Sequitur Advocates and Consultants has become active in investment transactions across AI, deep technology, fintech and technology-driven sectors, advising investors and companies through early-stage, multi-investor and growth rounds. It advises on funding structures, transaction documents, governance frameworks and investor protections, with particular experience in long commercialisation cycle businesses. The firm also handles repeat funding rounds for portfolio companies and founder-side mandates. Recent publicised work includes advising 8X Ventures on a series A fundraise; Almonds AI on a INR1.6 billion (USD16.9 million) fundraise; and work connected to Procmart among other growth businesses.

Abhinav Jain, CEO at Almonds AI in Gurugram, said: "We work very closely with them ... as we are a startup, [they] support us from a legal point of view. Where we work with large corporates, [they protect] our rights as well as advise on the next steps and negotiations."

IBLJ analysis:

Shardul Amarchand Mangaldas & Co (SAM) has acted in major prevention of money laundering, Foreign Exchange Management Act and corporate fraud matters. SAM was India counsel to Morgan Stanley and JP Morgan in MakeMyTrip's USD2.8 billion offering; to the bookrunning lead managers in the ICICI Prudential IPO - one of the largest IPOs by an asset management company in India to date; and to Hexaware for its USD1 billion India listing.

In litigation and competition law, the firm represented Asian Paints in its dispute against Grasim Paints, Birla Opus and the Competition Commission of India. SAM advised Emirates NBD Bank, one of the Middle East's largest banking groups, on its majority acquisition of RBL Bank, valued at INR268 billion (USD2.83 billion). The firm also advised Biocon on its integration with Biocon Biologics. SAM advised in the corporate insolvency of KSK Mahanadi Power Company.

Harsha Goel, a senior associate at Dorsey & Whitney in London, said: "We worked with [SAM partner] Ambarish on an M&A transaction in the industrial sector. His advice was consistently clear and commercially focused."

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IBLJ analysis:

Singhania & Partners has advised domestic and international clients on India entry, corporate structuring, regulatory compliance, shareholder arrangements, internal restructurings and strategic advisory. The firm secured interim relief for TeamLease Services from the Karnataka High Court against a show cause notice issued by the regional provident fund commissioner in Bengaluru that demanded INR1.48 billion (USD15.6 million) towards alleged losses and misappropriation of reserves.

The firm's sector experience includes technology, infrastructure, manufacturing, financial services and professional services, with its corporate team working closely with employment, finance and infrastructure specialists.

IBLJ analysis:

SKV Law Offices represented Tata Power Delhi Distribution at the Appellate Tribunal for Electricity proceedings concerning comptroller auditor general audit and liquidation timeline. SKV Law advised Tata Power Company on its strategic partnership with Druk Green Power Corporation (DGPC) for the 1,125MW Dorjilung Hydropower Project in Bhutan. The firm is also a regular presenter before judicial authorities in matters of renewable energy change-in-law claims, curtailment, grid compliance, coal pricing and fuel levies. It has successfully protected transmission and generation infrastructure from injunctive disruption, represented clients in tariff and true-up disputes, and challenged regulatory actions affecting solar banking and time-of-day tariff structures.

Ajay Kapoor, chief of legal, regulatory & advocacy at Tata Power, said: "Their nuanced understanding of India's evolving power sector framework, including electricity regulation, renewable energy policy, transmission and distribution reforms, competitive bidding regimes, and tariff mechanisms, has been invaluable to Tata Power."

IBLJ analysis:

SMV Chambers is a Chennai-based law firm focused on ensuring end-to-end legal solutions for all tasks including compliance, clearances, litigation and ESG alignment. The firm specialises in advising and guiding corporates, developers and individuals through complex regulatory structures, environmental risks, and regulatory scrutiny with strategic, science-backed legal advice that ensures both sustainability and compliance. The firm is also adept with ensuring the necessary permits are obtained, project compliances are fulfilled, and any disputes involving environmental liabilities before the National Green Tribunal or a high court are managed.

IBLJ analysis:

SNG & Partners has added a GIFT City office and a strategic collaboration with RK Dewan & Co, a firm focused on intellectual property law. In the real estate sector, the firm advised on ICICI Prudential's acquisition of a premium commercial property in Kalina-Vakola, Mumbai for INR3.15 billion (USD33 million). The firm provided end-to-end advisory to investors and the debenture trustee on the INR5 billion of listed non-convertible debenture issuance by Lodha Developers, and also on the INR11 billion listed debt issuance by DLF Cyber City Developers.

The firm worked with STL Networks on its issuance of INR1.5 billion of non-convertible debentures, and the National Commodity & Derivatives Exchange on fundraising INR7.7 billion through a preferential allotment of equity to 61 investors. SNG added new partners Rajendra Patil and Sweta Mehta (banking and finance), Jahnavi Dwarkadas (private client), and associate partner Lokesh Malik (corporate litigation).

IBLJ analysis:

Founded in 2021, Solaris Legal is a boutique Indian law firm focused on dispute resolution. Established by Trinath Tadakamalla, Debarshi Dutta and Mrinal Ojha, the firm advises a broad range of clients across India through its New Delhi office and an established network of lawyers in multiple cities.

Solaris Legal has a strong insurance and reinsurance disputes practice, acting for leading insurers including Tata AIG General Insurance, ICICI Lombard General Insurance, and IFFCO Tokio General Insurance.

IBLJ analysis:

Somandy & Associates' expertise in their winning category shines in their experience in D&O (directors and officers) insurance advisory, coverage negotiations and D&O litigation. The firm has handled insurance advisory for leading PSU (public sector undertakings) insurers, advised a major Indian manufacturing conglomerate on structuring its representations and warranties insurance programme for global acquisition documentation, and partnered with a leading automobile parts manufacturer on its global recall and product liability programme. The firm also handles litigation related to insurance and reinsurance, having handled a loss of profit litigation claim.

Shubhra Singh, vice president at National Spot Exchange in Mumbai, said: "Somandy & Associates (and firm advocate Burzin Somandy) has positioned insurance law as a core discipline, allowing it to develop unparalleled expertise in interpreting, drafting, and negotiating policy wordings; and participates in the early stages of product design and risk structuring."

IBLJ analysis:

Spice Route Legal is renowned for its work with technology startups, private equity and cross-border transactions. The firm acts for multinational corporations, financial institutions, investment funds, governments, and education and charity organisations.

Among its notable work, the firm advised Aerem Solutions, a company focused on rooftop solar power, on its pre-series B funding round; and Nira Finance, a digital lending platform serving "Working India", in its acquisition by Empower Finance Inc. The firm also advised Savex Technologies, India's third-largest information and communication technology distributor, on its strategic investment in Inflow Technologies.

IBLJ analysis:

SS Rana & Co is a Delhi-based firm active in various focus areas of enforcement. It focuses on IP assessment, searching, clearance, drafting and filing, prosecution, international registration, licensing and transactions, renewals and maintenance among other areas. The firm has been engaged in comprehensive intellectual property practice for more than three decades and is one of the few firms that is a single point of contact for the countries in the SAARC (South Asian Association for Regional Co-operation) region.

Among its work in IP enforcement, SS Rana & Co represented leading spice manufacturer Everest Food Products in a trademark infringement and passing-off action against Shyam Dhani Industries.

IBLJ analysis:

Stratage Law Partners has increased its engagement on complex M&A and PE mandates, strengthened talent development, and embedded technology tools for research, billing and document management. A notable matter was its work on a defence sector transaction involving phased acquisition of Elcome and Navicom by Syrma SGS Technology, a multimillion-dollar transaction. The firm advised on multiple investment transactions, including Nuvama Crossover Opportunities Funds' investment in IL Jin Electronics. It also acted on fundraising and investment mandates for Bloombay Enterprises, Elcome Integrated Systems, and Navicom Technology International.

Aparna Chablani, SVP, general counsel & governance at DP World in Mumbai, said: "A good law firm which provides sound legal commercial advice with clarity and adds value. [The firm is] client centric and has the ability to quickly grasp the matter."

IBLJ analysis:

Sujata Chaudhri IP Attorneys, a women-led boutique IP firm, expanded its patents and designs practice, and moved into a new office in the past year. It also added Apoorva Trivedi as partner in the firm's trademarks and copyright practice. During the year, the firm filed and defended several contentious IP suits before Delhi High Court and secured favourable outcomes in a majority of the matters. Its enforcement work included actions for Glaxo Group, Castrol, New Balance, Sandvik, Epiroc, American Eagle Outfitters, Levi Strauss, Kickstarter, GlaxoSmithKline and Zee Entertainment.

The firm acted on trademark infringement, passing off, anti-counterfeiting, online listings and media-related IP, combining litigation strategy with technical expertise across pharmaceuticals, life sciences, luxury, consumer goods, technology, oil and lubricants, aviation and entertainment.

IBLJ analysis:

ThinkLaw has a team of 30 lawyers. Its litigation work included representing Kirloskar Oil Engines before the Bombay High Court, challenging regulation 30a and clause 5a of the SEBI's Listing Obligations and Disclosure Requirements regulations, after the SEBI directed disclosure of a private family settlement deed. The proceedings led to a SEBI clarification, recorded by the court, that disclosure would not by itself bind listed entities. The firm also represented Kirloskar Proprietary in multi-forum trademark ownership disputes and an Indian conglomerate in cross-border banking litigation before New York courts.

Siddharth Kothari, managing director at JM Financial in Mumbai said ThinkLaw is a "boutique firm with high quality lawyers ... that gives sound and quality advice and output. We can rely on them to work on stretched timelines and handle complex situations with practical advice."

IBLJ analysis:

TLC Legal's indirect tax practice represented clients in major GST, customs, sales tax and trade remedy matters. It has acted for entities in representations to the government and proceedings before the Supreme Court of India. The firm advised and represented Reliance Jio Infocomm in disputes involving significant tax exposure in Tamil Nadu and Pondicherry, and obtained relief on the treatment of mobile towers as movable property for GST input tax credit.

The firm has also supported Akshaya Chaitanya, a charitable organisation that provides nutritious meals to families of patients in government hospitals, children in municipal schools, and underserved communities across Mumbai. Deepak Garg, senior executive and vice president at Reliance Industries in Mumbai, said the firm "handled high-value litigation successfully getting appropriate reliefs. They have very good knowledge of Indian indirect tax laws and are diligent in their work."

IBLJ analysis:

Touchstone Partners is a Delhi-based firm winning this year for their work in the fields of M&A and PE/VC as a firm with less than 100 team members. The India Business Law Journal 2026 A-List recognises senior advisor Vinod Dhall and managing partner Karam Daulet-Singh as icons, and partner Uday Walia for his expertise in capital markets, corporate & commercial, power & energy, private equity, venture capital & funds.

Touchstone Partners advises financial investors on investments in Indian businesses. The firm is noted for its expertise in devising innovative cross-border structures within India's complex regulatory framework. Cross-border M&A is a core strength, with the firm consistently advising multinational companies on high-profile transactions. Among its notable work in the past year, Touchstone advised Novartis India on the sale by Novartis of its entire 70.68% shareholding in the company to a consortium led by ChrysCapital, one of India's leading private equity firms, resulting in a change of control.

IBLJ analysis:

Trilegal is a Mumbai-based firm with more than 1,000 lawyers in its team dedicated to its clients. The firm is recognised as one of the Best Overall Law Firms of the year, with 16 category wins. The firm boasts of clientele that includes Varanasi Aurangabad NH-2 Tollway, SBI Capital Markets, BNP Paribas, HSBC Securities and Capital Markets (India), JM Financial, Motilal Oswal Investment Advisors, EQT, Temasek, Macquarie Corporate Holdings, Enel Green Power India, Uprising Science, and others.

Kuntal Parikh, general manager at Adani Enterprises in Ahmedabad, said: "Having worked closely with them on several NCD issuances, I have found their legal insight and execution capabilities to be very good. They have demonstrated the ability to deliver under tight timelines."

IBLJ analysis:

Trust Legal advises a diverse client base that includes multinational corporations, government agencies, embassies, major infrastructure companies, healthcare institutions, environmental organisations, and businesses operating in the mining and minerals, chemicals, food and beverage, and project finance sectors.

The firm is also a regular before the courts for its clients, and was one party's legal representation in a USD11 million arbitration involving the Indian Railways before the Supreme Court of India.

IBLJ analysis:

TT&A launched Lucio internally and upgraded its IT systems for remote working. In finance, it advised on a USD3.3 billion private credit financing for a Shapoorji Pallonji group entity, secured partly by holdings in Tata Sons, and on major NCD issuances for Torrent Pharmaceuticals and JSW Paints. Its competition team represented Match in an antitrust complaint against Apple, and acted for L Catterton on its investment in Haldiram. In energy, it advised Blueleaf Energy, Sumitomo, JSW Energy and O2 Power on renewable and compressed biogas transactions.

Sunil Popuri, senior counsel at International Finance Corporation in Washington DC, said: "The firm's services are top-notch and I would rate them among the top tier of law firms that we use in India. Gautam Saha is our main relationship partner - he is excellent at appropriately staffing the deal with the right amount of seniority."

IBLJ analysis:

Tuli & Co's recent work has spanned D&O (directors and officers), multimedia professional indemnity, cyber, property, marine, product liability, clinical negligence, construction, aviation, trade credit and crime policies.

Matters included claims linked to alleged fund diversion at an electric cab company; employment claims against Indian IT companies; copyright complaints against a publishing house; ransomware and data breach incidents; and hydroelectric project damage. On the regulatory side, the firm advised on transition from a foreign reinsurer branch to an Indian-domiciled joint venture, a GIFT City managing general agent structure, health insurer establishment, and surety bond products.

Koji Kawanaka, vice president at Marubeni in Singapore, said: "We appointed Tuli & Co as our legal counsel in relation to a legal proceeding against one Indian airline. Tuli & Co has a well-structured team ... They always provide their recommendation, advice and guidance to maximise our interest."

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IBLJ analysis:

Upscale Legal grew as a business-focused full-service practice, adding associates and support professionals, defining internal roles and improving operational structures. Its startup practice advises companies from incorporation to scaling and investment readiness, focusing on entity structuring, founders' agreements, shareholders' agreements, governance frameworks, equity distribution, vesting, responsibilities, and dispute resolution. It also assists with funding readiness, corporate records, compliance, term sheets, investment agreements and negotiations. The firm's work extends to vendor agreements, service contracts, partnership arrangements and regulatory compliance, with a strong emphasis on preventive legal strategy.

Rajiv Chhabra, CEO at RCHC Kitchens India, said: "I have always found Upscale Legal to be extremely professional and helpful and courteous and cost-effective. Not only will they give you value for money, they would also save you significant amounts to be paid to solicitors in the Western world."

IBLJ analysis:

Vaish Associates has expanded into data privacy, investment funds and other emerging areas, while leveraging online filing, virtual hearings, local counsel co-ordination and AI-driven tools to act across jurisdictions. Its tax practice combines legal, accounting and commercial expertise across direct and indirect tax, international tax, transfer pricing and litigation. The firm also acted in matters on permanent establishment, satellite transponder services, non-compete fees and cross-border purchases.

Divyesh Desai, insolvency professional at Moore Singhi Advisors in Mumbai, said: "I have worked with them on my assignments for Trend Electronics, Rajesh Estates and Nirman Private, Nicomet Industries, and many more. I have worked with them for many years and the partners are easily accessible."

IBLJ analysis:

Since its establishment in 2017, Vashi and Vashi has built a strong reputation for providing practical, value-driven advice to private clients and businesses. In this area, the firm is particularly recognised for advising on high-value real estate transactions, including deal structuring and conveyancing.

The firm also assists clients in identifying and resolving potential disputes at an early stage to preserve value, particularly in matters involving inbound investments. Alongside its advisory work, the firm handles complex disputes before courts across India, including the Supreme Court, as well as domestic and international arbitrations.

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IBLJ analysis:

Veritas Legal's strength lies in M&A, where it advises on corporate advisory, acquisitions, private equity, cross-border investments and joint ventures across diverse industry sectors. The firm also has expertise in competition law, covering merger control, anti-competitive agreements, abuse of dominance, compliance frameworks and antitrust risk management. Its work spans multiple industries including IT, pharmaceuticals, healthcare, media, energy, real estate and petrochemicals, and it has represented both acquirers and targets in securing merger clearances from the Competition Commission of India.

Ken Lefkowitz, partner and deputy chair at Hughes Hubbard in New York, said: "Their team, led by managing partner Abhijit Joshi and supported by a deep bench of highly capable partners, are among the most sophisticated, commercially attuned and solutions-oriented groups I have worked with anywhere in the world."

IBLJ analysis:

Vertices Partners has remained highly active in India's startup and investment ecosystem, advising venture capital funds, institutional investors, family offices and high-growth companies across fintech, AI, consumer brands, financial services and climate technology.

Vertices Partners' core strengths lie in private equity, venture capital and M&A, where the firm advises on funding rounds, acquisitions and corporate structuring, including cross-border transactions for both inbound and outbound investments. In 2025, it handled numerous significant transactions including fundraises for Flipspaces Technology Labs, Mahaveer Finance, Eggoz, Berar Finance, Prayaan Capital, WorkIndia, GreyLabs AI, Palmonas, BabyOrgano and CredRight, as well as joint ventures for Zetwerk Manufacturing, Sugar Cosmetics and Admaren Tech.

IBLJ analysis:

Established in 2009, Vidhii Partners is a full-service law firm in Mumbai that acts across disputes, advisory and transactional matters. The firm represents clients before courts and tribunals, advises on investments into India, and conducts due diligence for banks, asset reconstruction companies, real estate companies and other businesses in relation to takeovers, buyouts and investments.

Vidhii Partners' notable 2025 litigation mandates include representing the SEBI before the Securities Appellate Tribunal, in Vinod Haribhai Parmar & Ors v SEBI, and acting for the respondents in Mahendra Kumar Nandlal Patel & Anr v Samir Mahendra Shah & Ors, a Bombay High Court arbitration dispute concerning the management and ownership of a hospitality LLP.

IBLJ analysis:

Vritti Law Partners has built strong capabilities in banking and finance, advising leading institutions such as the State Bank of India and HDFC Bank on large-scale financing structures, term loans, guarantees, and hybrid facilities. The firm has handled high-value mandates including: the SBI's INR257 billion (USD2.7 billion) revised financing for Numaligarh Refinery; Yes Bank's INR2.6 billion term loan for a wind-solar hybrid project; and HDFC Bank's INR1.5 billion facility for Adani Total Private.

Its work spans complex debt structuring, standby facilities, working capital loans and redevelopment financing, reflecting expertise in both traditional and innovative financing arrangements. The firm also advises on assignments of loan receivables and securitisation transactions, acting for lenders and assignees in deals involving Vivriti Capital, Svasti Microfinance and Prayas Financial Services. These matters demonstrate its ability to manage diverse financing scenarios, from large corporate projects to microfinance and asset-backed transactions.

IBLJ analysis:

Wadhwa Law Offices strengthened its practice by adding Anshum Singh as a corporate partner. The employment team advised on PoSH (prevention of sexual harassment) committees, investigations, workforce rationalisation, secondments, employee exits, maternity benefits, union issues and training. Its M&A clients include International Automotive Components Group and Dana Incorporated.

Philip Yang, global counsel for CV business and M&A at the auto components company Dana Integrated in Toronto, said: "Wadhwa advised Dana on a couple of business/JV divestiture projects and daily supply/sales contract, NDA and licence agreement negotiations. The Wadhwa team proved to be experienced and knowledgeable about Indian laws, plus the team has a good understanding of business needs and possesses the ability to assist foreign investors navigate through M&A documents in compliance with local laws."

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IBLJ analysis:

Wadia Ghandy & Co has a strong real estate practice, advising clients across the full property lifecycle including acquisitions, disposals, joint ventures, financing, regulatory compliance and exits. The firm's pan-India presence and multidisciplinary approach allow it to handle complex transactions and disputes, including representation against government and statutory bodies.

Balkrishna Vhatkar, general manager of legal at Optimystix Entertainment India in Mumbai, said: "Throughout our association, they have consistently demonstrated deep domain knowledge, a clear understanding of the specific legal issues involved, and strong capability in handling complex legal matters and commercial structuring with precision and practical insight."