Economic Laws Practice

India

Analysis

Overview

As one of the top law firms in India, Economic Laws Practice is highly ranked across the banking and finance, capital markets, competition/antitrust, dispute resolution, regulatory and tax practices. This year it moves up in the real estate ranking. The firm’s renowned tax group is acknowledged by peers as a market leaderFirm managing partner and main contact Suhail Nathani is often a lead partner in competition cases, as well as on private equity and M&A deals. Four corporate and private equity focused partners left the firm to establish their own start upDarshan Upadhyay, Bhavin Gada, Shyam Pandya and Amit Manubarwala. Another corporate partner, Tushar Ajinkya, left to start his own firm, while M&A expert Amruta Kelkar lateralled over to Shardul Amarchand Mangaldas & Co. The tax team expanded with the hiring of Saumil Shah as a new tax director and Mitesh Chauhan as an associate tax director. 

Client feedback 

Great team, very approachable and practical in advising. Good at closing the deal quickly. – Corporate and M&A 

I appreciate the team’s commercial awareness, practical guidance and great grasp of our business. – Tax 

Rohit Jain 

Excellent delivery of service, technically very good and has great knowledge of our industry. 

Aakansha Joshi 

He is open in communications and clear in feedback. He understands issues very quickly. He has maturity in negotiating and resolving with the counterparty. 

 

Tax

Work highlights 

Engaged by Inox Leisure for a matter dealing with anti-profiteering proceedings under the Indian GST laws.  

Representing Modelez India Foods in a revision application before the High Court to challenge an order of the Commercial Tax Tribunal 

Acted for Purulia Kharagpur Transmission Company in filing a writ petition challenging the imposition of penalty due to the non-discolusre of purchases.  

Key clients 

Anheuser Busch InBev India, Bacardi India, The Great Eastern Shipping Company

Private equity

Work highlights 

Advised JM Financial on the acquisition of a significant minority stake in Canpac Trends through a primary issuance and secondary sale o 

Represented Samara Capital on its investment in Blue Heaven Cosmetics (BHCP) through Nature’s Essence, which had acquired a majority stake in BHCP with an option to purchase additional equity stake from the promoters of BHCP in the future. 

Key clients 

Eduauraa Technologies 

Dispute resolution

Work highlights 

Representing INX Media against criminal proceedings launched against it by the Enforcement Directorate of India for money laundering 

Acting for Lex Sportel Vision Private in an arbitration against Discovery Networks Asia Pacific and Dicovery Communications India relating to a shareholder dispute.  

Restructuring and insolvency

Work highlights 

Acting for Diamond Forever International as a resolution applicant who had submitted a resolution plan for corporate debtor, Provogue, which is going through insolvency proceedings.  

Representing Diamond Forever International, one of the resolution applicants for Provogue India, which is undergoing a corporate insolvency resolution process with a debt load of $34 million 

Key clients 

Sify Technologies, State Bank of India 

Corporate and M&A

Work highlights 

Successfully represented Google International in relation to its $4.5 billion acquisition of a stake in Jio Platforms 

Advised TransWorld on its transaction with Unifeeder ISC that included the transfer of Shreyas Shipping and Logistics containerised domestic coastal and exim feeder shipping business to Unifeeder through Transword Feeders Private, the execution of a long-term framework chartering agreement, and the sale of the entire stake of the company from the client to Unifeeder 

Key clients 

AstraZeneca, Centrum Housing Finance, Invest India, Prozone   

Competition/antitrust

Work highlights 

Representing Google, Google India Private and Google Ireland before the CCI and is representing them before the appellate tribunal National Company Law Appellate Tribunal against allegations nfiled by Bharatmatrimony.com and Consumer Unity Trust Society for abuse of dominance.  

Acting for GEEP Industries India in an appeal before the NCLAT subsequent to the decision of the CCI penalizing GEEP for anti-competitive conduct. 

Representing Worldline India Privatebefore the CCI and the NCLAT in a matter against VeriFone India Sales, where the latter is alleging abuse of dominance by the client imposing unfair and discriminatory terms in its contracts with its customers.  

Key clients 

Ericsson, SKF India, United Breweries

Banking and finance

Work highlights 

Assisted Arka Fincap and SBM Bank as lenders to Signature Global India and Sternal Buildcon 

Advised DBS Bank on its loan to Whispering Heights Real Estate Private.  

Acted for Bank of Baroda on its loan facility to Polycab India.  

Key clients 

Avendus Finance, IndusInd Bank