Cyril Amarchand Mangaldas continues its reign as one of the most recognised full-service law firms in the country, a top-tier choice for its panoply of international and domestic clients. The firm is almost always involved in the most high-profile deals and this year proves its dominance once again by rising into the top tier of the market-hot pharmaceutical and life sciences table. The firm is deepening its expertise in distressed asset M&A and bid-side insolvency resolution, and has established a specialised corporate governance practice. The firm houses elite partners and leaders in their fields like Cyril Shroff, L Viswanathan, Reeba Chacko, Avaantika Kakkar and Yash Ashar. The firm also has a unique bench of retired senior bureaucrats from key Indian regulators, such as the Reserve Bank of India and the Securities and Exchange Board of India, to provide an extra layer of expertise.
The corporate team welcomed three partners from various leading law firms: head of media, education and gaming Aarushi Jain joined from Nishith Desai Associates, Rishiraj Bhatt joined from Kanga & Co and Siddharth Hariani joined from Phoenix Legal. Disputes veteran Gauri Rasgotra left last year to establish her own boutique firm.
Work highlights
Advised Advent International on its acquisition of 9.99% stake in Yes Bank.
Key clients
Alpha Wave Global, Biocon Biologics, Brookfield Asset Management, Everchem Asia Private, IndoStar Capital Finance, IFC, Google, Warburg Pincus.
Work highlights
Assisted Johnson & Johnson Group on the demerger of its consumer health business that involved the transfer of more than 1,000 employees in India.
Work highlights
Acted for the committee of creditors of DHFL on DHFL’s corporate insolvency resolution process.
Represented a consortium of 12 public sector banks, with IDBI Bank as the lead bank in enforcement as well as defending a challenge to an arbitral award in relation to a breach of contract against Haryana State Industrial and Infrastructure Development Corporation.
Key clients
Essar Bulk Terminal, Navi Technology, Saura International Private, Zomato.
Work highlights
Represented Reliance Projects & Property Management Services in connection with the submission and implementation of resolution plan for Reliance Infratel.
Key clients
Adani Group, Alvarez and Marsal, Eight Capital, ICICI Bank, JSW Group, Reliance Industries, State Bank of India, Union Bank of India.
Work highlights
Represented Adani Group on its acquisition of a controlling interest held by Holcim Group in Ambuja Cements and ACC. This is the largest transaction in India’s infrastructure and materials space, valued at $10.5 billion, and has triggered two open offers, each in respect of Ambuja Cements and ACC.
Key clients
Bharti AXA General Insurance Company, Canara Bank, Escorts, GVK Group, Jindal Steel & Power, Mitsui Sumitomo Insurance Company, Signify, Tata Sons.
Work highlights
Advised the Life Insurance Corporation of India and the President of India, acting through the Ministry of Finance, on its IPO. This was the largest IPO of equity shares in the history of capital markets in India.
Acted for Macrotech Developers and its selling shareholders on its QIP. The QIP structure was the first ever qualified institutions placement by way of an offer for sale of equity shares.
Key clients
Cartrade Tech, India Grid Trust, L&T Finance Holdings, Macrotech Developers.
Work highlights
Advised Viacom 18 and Reliance Projects on the transaction structure and documentation from a competition law standpoint. The team drafted the merger notification, engaged in extensive consultations with the Competition Commission of India (CCI) and responded to the CCI’s requests for information, in order to obtain the CCI’s approval for the transaction.
Key clients
Adani Group, Axis Bank, CDPQ, NTPC, Siemens, Blackstone Group, Warburg Pincus.
Work highlights
Advised borrower PGP Glass, a Blackstone entity, on its $360 million loan from various lenders to finance the acquisition of business undertakings of Piramal Glass.
Key clients
Adani Capital, HSBC, ICICI Bank, JP Morgan Chase, Kotak Mahindra Bank, Power Finance, Sumitomo Mitsui Banking.
Work highlights
Acted for JP Morgan Services India on its lease of a built-to-suit premises in Bangalore.
Key clients
Brookfield Asset Management, Embassy Office Parks REIT, Envestnet Asset Management India, Keppel Land, PropShare Capital Advisors, Redington.
