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In-house counsel and corporate legal teams honoured by their peers for outstanding legal work. Katherine Abraham reports

The third edition of the In-House Counsel Awards continues our endeavour to recognise the driving forces behind the success of India’s corporate legal landscape.

Our featured in-house counsel play pivotal roles in advising core management, leading robust risk assessment and mitigation efforts, and showcasing an extraordinary ability to turn success into seemingly effortless outcomes. However, striking that delicate balance in catering to management and regulators, as well as interested stakeholders, remains the key challenge.

India Business Law Journal takes pride in showcasing the accomplishments of these corporate heroes. Through interactions with our nominees, we have sought to bring to the fore their unique talents and qualities – insights usually reserved for those working closest with them. IBLJ also recognises different legal teams that have demonstrated remarkable success in their respective industries. The post-2020 crisis rescue – and balance sheet cleanup through substantial asset sales – demanded practicality and commercial acumen, both manifest by the teams who have earned deserved respect in the market.

Take for example Hyundai Motor India’s general counsel, Yogesh Wadhwa, who is commended for being an excellent lawyer, receptive to external counsel views. Similarly, Tata Sons boasts a brilliant in-house legal team for the parent company, ensuring compliance across Tata Group’s vast worldwide network of companies.

Asian Paints’ legal team is highlighted for its well structured and devoted approach to protecting the company’s innovative practices through strategic and intelligent handling of IP matters.

The team at IBLJ extend our gratitude to all those who submitted nominations, and our hearty congratulations this year’s winners.


In house legal team of the year

Yes Bank
YES Bank
Team leader: Sanjay Nambiar
General Counsel

The Legal Risk Management team (LRM) at YES Bank, headed by general counsel Sanjay Nambiar, maintains a presence across the country with about 130 legal professionals catering to various business segments such as wholesale, retail, international, transaction banking, trade finance, treasury, debt capital markets, financial management, human capital management, investor relations, marketing and corporate communications.

The team works to assess the bank’s legal risk and limit exposure on a range of criminal, regulatory and civil liability. In the past year, some of its key achievements include assisting the bank to raise USD1.2 billion equity capital from two marquee private equity investors, Carlyle Group and Advent.

It organised the one of the largest sales of a non-performing assets portfolio in the banking industry, to the tune of INR480 billion (USD5.79 billion) to JC Flowers ARC, and also assisted the bank to recover INR12 billion from domestic defaulters and INR5 billion from foreign borrowers.

general counsel of the year

Shagoofa Rashid Khan
Shagoofa Rashid Khan
Group General Counsel and Head Corporate Affairs
National Investment and Infrastructure Fund

This year’s general counsel of the year is SHAGOOFA RASHID KHAN, group general counsel and head of corporate affairs at the National Investment and Infrastructure Fund (NIIF) in Mumbai.

She heads a lean team of four legal professionals, two company secretaries and interns, and her work involves stakeholder management, structuring new business ventures, providing legal advice on diverse regulatory matters, and managing transactions across infrastructure sectors.
She offers counsel on fund structuring, negotiating definitive agreements, advising on fundraising activities, and serving as custodians for assets within the NIIF funds. Khan also plays a crucial role in enforcing business rights, formulating compliance policies, and handling litigation or dispute resolution matters as needed.
“Shagoofa has wide experience in the alternative asset management space of over two decades,” says Siddharth Shah, partner at Khaitan & Co in Mumbai.

“She has the experience of being on both sides – a partner at a prominent law firm, as well as GC for some of the largest groups/institutions like Kotak and Tata, as well as NIIF. Her knowledge base spreads across legal, regulatory and tax. She adds tremendous value to the organisation that she represents and also becomes a critical bridge with the external lawyers.”

Khan became a member of the SEBI’s Working Group on review of AIF Regulations in 2023. In 2022, she was appointed as a member of the SEBI’s Working Group on review of Research Analysts Regulations; and in 2019 was appointed as a member of the SEBI’s Working Group on the review of Investment Advisers Regulations.

Among her notable work in the past year, she supported the NIIF’s Strategic Opportunities Fund deal team for the exit transaction from its investment in Manipal Hospitals. This was the NIIF’s first complete exit transaction and one of the largest exits in the minority investments segment in India to date.

Siddharth Shah Quote

She supported the deal team on completing conditions precedent on the NIIF’s acquisition of a significant USD500 million minority stake in Hindustan Ports, the wholly owned subsidiary of DP World. This included obtaining various approvals from the competition regulator, port authority, concessioning authority and lenders. Khan also advised the board on the first CEO succession in the funds industry, planning and executing the steps, and drafting and finalising all documentation. She conducted meetings for obtaining board, committee, investor and shareholder approvals, holding briefing calls with the government and investors. The appointment of the new CEO involved an intense and long selection process.


Rescue, revive, respite

While the economic excesses and recesses of the pandemic may be well behind us, the fact remains that a lot of corporates – banks in particular – are still working on the recovery process.

“[The] YES Bank legal team has over 100 lawyers. It has done great work in rescue and revival of the bank after the crisis it faced in 2020,” says Kumar Saurabh Singh, a partner at Khaitan & Co based in Mumbai.

“It has also played a key role in cleaning up the balance sheet of the bank by selling assets in a single transaction to JC Flowers ARC. Overall, the legal team of Yes Bank is very sizeable and respected in the market for its practical approach to work and commercial acumen while dealing with complex legal issues.”

While the YES bank’s team works on the checks and balances, the Junglee Games legal team proved to be prominently instrumental for the upcoming online gaming industry in India.

“The recent judgment passed by Tamil Nadu High Court in the case of AIGF v UOI was advocated by the team, as the company was one of the petitioners successful in presenting the difference between a ‘game of skills’ and ‘game of chance’ before the court,” says Apoorva Sharma, manager, legal at Junglee Games, Gurugram.

The team’s contributions resulted in the legalisation of Rummy and Poker in the state, and helped to advance the online gaming industry in the country.
Led by GC Kapil Chaudhary, the Junglee Games legal team currently comprises a lead contracts and commercial attorney, lead law enforcement attorney and legal intern.

“We have worked with the Junglee team, and Kapil, and find them to be very informed, hands on and responsive. The team has a sharp focus on business objectives and provides excellent insight into the overall requirement,” says Arun Prabhu, a Bengaluru-based partner at Cyril Amarchand Mangaldas.

Mathew Chacko, the founding partner of Spice Route Legal in Bengaluru, says: “Kapil and his team exhibit a very deep knowledge of his sector, and have the strategic ability to prioritise legal risks into pockets of urgency, accurately.”

Arun Prabhu

In the past year, the Junglee Games legal team has implemented the contract life cycle management tool, SpotDraft, to manage contracts.
The company also operates in a dynamic regulatory environment where the team needs to stay compliant with the rules, regulations, bylaws and legislation, in addition to mitigating business risks. The team has actively engaged with stakeholders, notably the Ministry of Electronics and Information Technology, to shape and influence the regulatory landscape for online games in India.

“I work extensively with them and have always found them to be on top of the game – and given that the game is gaming, it is a very challenging space,” says Chacko.

Arjun Khurana, a partner at G&W Legal in New Delhi, has high praise for the legal team at Warner Bros Discovery (WBD). He finds the versatile 10-member team of lawyers and other professionals to be “nimble, agile and extremely hard-working”.

The team oversees legal matters such as contract drafting, negotiation, litigation and regulatory compliance, ensuring risk mitigation and operational security, and focused on content compliance and evaluating content to align with established standards.

Along with tackling the complexities of India’s media, entertainment and broadcasting sector, the in-house team navigates challenges related to pricing, compliance, intellectual property and intricate regulation.

The legal and compliance team of six professionals at Daimler India Commercial Vehicles plays a pivotal role in providing comprehensive legal counsel. They perform proactive risk management, and have introduced a unique litigation management system to reduce dependence on external counsel, and a statutory compliance tool to enhance efficiency.

The team’s initiatives involve the formulation of outside counsel guidelines while fostering a compliance-centric culture within specific departments. Recommending legal head Vinay Bhagawan’s legal team at Daimler is Rahul Rai, partner and co-founder at Axiom5 Law Chambers in New Delhi, who says: “Vinay has most ably steered the complete change in the legal and compliance team at Daimler Indian Commercial Vehicles, and has built a very capable in-house team.”

Nikunj Maheshwari, a partner at AZB & Partners in Mumbai, finds the legal team at India Bulls Housing “extremely well informed” with “top notch legal skills … always motivated to close a deal with the right outcome for their company and other stakeholders”.

Lalit Bhasin, president of the Society of Indian Law firms in New Delhi, is all praise for the Tata Sons legal team, in particular their general counsel, Sidharth Sharma. “[Sidharth] has to deal with the legal issues of most of the Tata Group of companies. He has a brilliant in-house legal team, which provides full legal assistance to ensure compliance by the Tata Group of companies.”

Utkarsh Bandhu

At Mercedes-Benz Research & Development India, the past 12 months saw a 230% increase in annual patent filings, with more than 480 patents filed. The legal team worked with inventors to provide clarity on how to get patent applications for products.

It helped to amplify the contribution of patent applications in advanced technology areas like quantum computing, artificial intelligence, metaverse and autonomous driving.

The team’s concerted effort resulted in every fifth patent by Mercedes originating from India, demonstrating substantial progress in patent generation.

Speaking highly of the head of IP, Balwant Rawat, and his team at Mercedes Benz R&D India, Ravi Bhola, managing partner and head of patent practice at K&S Partners in Bengaluru, describes Balwant as a “visionary leader with deep expertise in handling portfolios – knowledgeable, practical and understands business implications”.

Shantanu Sood, managing partner at Quest IP in Delhi, meanwhile, praises the legal team handling IP at Asian Paints as “very well structured and devoted to protecting the company’s innovation”. He adds: “The company takes its IP very seriously and has a great team working on their IP globally. Quick, decisive, strategic and intelligent – a brilliant team that is bound to succeed.”

Vision and innovation

In the evolving landscape of law, the role of a general counsel is meant to be a beacon of legal excellence and strategic acumen. They are meant to embody a unique blend of expertise, leadership and adaptability as they navigate intricate regulatory frameworks, while steering organisations towards ethical and legal excellence.

Across departments, they are required to effectively translate legal complexities into actionable insights for various stakeholders. Their ability to balance legal rigour with business pragmatism defines their worth in the corporate arena.

Akhil Prasad, director and country counsel of Boeing India in New Delhi, is described by Veena Krishnan, a partner at Samvad Partners in Bengaluru, as a person with “high integrity” and a “wealth of knowledge”. Prasad serves as a board member, group general counsel and company secretary for Boeing’s wholly owned subsidiaries in India, providing legal oversight for aerospace ventures in civil aviation and defence.

“Akhil is a lawyer with several years of experience. He is also someone who is abreast of the changing ways of the world, be it in terms of hardware technology, software or artificial intelligence,” says Krishnan.

In the past year, Boeing significantly contributed to India’s aviation and defence sector, establishing the first logistics centre at Khurja FTZ, a freight converter facility in Hyderabad, and a cutting-edge engineering and technology centre near Bengaluru International Airport. Boeing collaborated with the Ministry of Defence, in addition to selling aircraft to clients like Air India and Akasa.

General counsel are expected to be team players because collaboration fosters more comprehensive legal strategies, drawing on diverse perspectives. In a cohesive team, they leverage collective expertise, enhancing problem-solving and risk mitigation, aligning legal objectives with broader organisational goals for sustained success.

Rahul Rai

Bhumika Tripathi is the GC of environmental and sustainable solutions company EverEnviro and leads the legal and compliance team. She and her team have achieved substantial success in securing and monetising arbitration awards of significant value. Notably, this strong in-house team has also effectively reduced pending litigations.

Tripathi has spearheaded all M&A activities for the organisation, and has overseen the largest financing venture in India’s biogas sector.

As a team player and leader, Bhumika excels in fostering collaboration and motivating her peers,” says Damini Bisht, legal manager at EverEnviro Resource Management in New Delhi. “In a high-stakes litigation matter, she assumed a leadership role, co-ordinating a multidisciplinary team of legal experts.”

Kaushik Mukherjee, the head of legal at Indiabulls Housing Finance, is described as an “outstanding general counsel” by Thomas George, a partner at Khaitan & Co in Bengaluru. “Kaushik is able to put his prior experience as a law practitioner to the best use in being a solution-oriented in-house business facilitator and fundraising expert.”

Mukherjee oversees diverse corporate transactions including public and private, M&A and capital markets. He plays a pivotal role in regulatory affairs and, working in a highly regulated sector, he handles inspections by regulatory bodies, investigations and disputes. Additionally, he acts as a key liaison between senior management and external legal advisers, influencing critical decision-making.

Praising Mukul Shastry, the “humble” and amiable general counsel at Cube Highways and Transportation Assets Advisers, Utkarsh Bandhu, a Mumbai-based partner at JSA, says: “Mukul is one of the most well-rounded and knowledgeable legal professionals in the country. His experience is extremely diversified, and he is a master of ‘out of box’ thinking and solutions.”

As general counsel for Singapore-headquartered Cube Highways Group, Shastry focuses on formulating effective legal and compliance strategies, and mitigating business risks. In the past year, he has been instrumental in driving strategic initiatives for Cube Highways such as making the entire legal department paperless, building a holistic framework that automates most compliances, and establishing standard operating procedures for the legal and contract departments.

Devika Chadha, the GC of Sunsure Energy, has a “strong knowledge of law and the industry”, says Aninda Pal, a partner at DSK Legal in Mumbai. He finds Chadha to be “commercially strong and well versed”, a lawyer who “ensures that the assignment is done in a timely manner with the business needs balancing commercial considerations within the four walls of law”.

Chadha established and leads the legal and compliance function, growing the team to five attorneys and company secretaries in eight months. She also mentors and oversees various legal aspects including project execution, corporate matters, land acquisition and compliance.

Nida Negi, an associate at DSK Legal in New Delhi, says: “[Devika’s] insights and direction are always very precise, and she has a knack for being very detail-oriented, even as she displays strong leadership and mentorship with her juniors.”

Manish Gupta, director at Noida-based IT company ABC Info- soft Private, is deeply appreciative of Rajiv Malik, general counsel at LG Electronics India in Noida.

“Rajiv Malik has demonstrated exceptional legal prowess, organisation communication skills, leadership, and remarkable breadth of jurisdiction and industry expertise,” says Gupta. “Malik consistently exhibits a profound understanding of the law, navigating complex legal landscapes with ease.” The team under Malik has achieved notable successes in intellectual property rights (IPR) by taking legal action against counterfeit goods manufacturers, securing damages and reducing the presence of counterfeiters on major e-commerce platforms. The legal team’s workload was reduced by categorising suppliers, crafting specialised contracts and streamlining operations.

“Rajiv is a very esteemed and renowned general counsel, and embodies legal excellence, strategic acumen and unwavering integrity,” says Shashi Ojha, associate partner at RNA Technology and IP Attorneys in Noida. “His visionary leadership sets a standard that inspires and deserves recognition in the legal community.”

Sumant Nayak, a senior partner at Desai & Diwanji in Gurugram, who has known Malik for 10 years, says: “He comes across as an intelligent, committed, meticulous lawyer and a thorough gentleman.”

Driven – the rising stars

In the dynamic landscape of the legal profession, the emergence of rising stars and innovative legal minds has become a captivating narrative. These are legal professionals who are reshaping the future of law, showcasing their unique perspectives, exceptional achievements, and the transformative impact they bring.

Prashant Pranjal, legal counsel at Alfanar Projects, receives high praise from Sahil Arora, a partner at Saraf & Partners in New Delhi, who says he has played a “tremendous role in complicated projects”.

Arora adds: “Prashant has deep market understanding and extensive regulatory knowledge specific to his industry. These qualities enable him to serve as a great bridge between commercial/business teams and external counsel.”

Another rising star is Rahul Mishra, assistant vice president at Axis Finance in New Delhi, singled out by Sharad Joshi, a partner at SNG & Partners in Mumbai, for his banking and real estate deals.

“Rahul’s approach to every transaction is incredible,” says Joshi. “With his vast experience and deep knowledge in relation to banking and real estate laws and regulations, he is able to wonderfully manage banking and real estate transactions, and commands great respect from his peers and business team. He contributes significantly and at times even guides external counsel on the deal to ensure smooth closure of debt finance deals.”

Our Methodology

India Business Law Journal’s In-house Counsel Awards are based on nominations, references and qualitative insights gathered from various in-house counsel and legal professionals globally.

The nomination process involved an accessible form on our website, extensively promoted on social media throughout December. A wide array of participants, including in-house counsel, lawyers from Indian and international law firms, and other India-focused professionals actively engaged in casting their votes. The evaluation featured nominated in-house lawyers submitting detailed documentation supporting their candidacy for the awards.

These submissions, combined with thorough research and reference checking by India Business Law Journal’s editorial team, played an important role in the judging process. All in-house counsel in India were automatically eligible for consideration in the In-house Counsel Awards. There were no entry fees or any other requirements to participate in the awards.

 

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