Phoenix Legal




Phoenix Legal is a full-service firm that is recognised for its banking and finance, infrastructure, insurance, dispute resolution, labour and employment and restructuring and insolvency practices. This year it moves up in the banking and finance and corporate and M&A tables. The four co-founding partners are the main contacts: Manjula Chawla, Saket Shukla, Abhishek Saxena and Sawat Singh. Its dispute resolution group welcomed a four-strong team from Legasis Partners, include partner Gautam Bhatikar and counsel Zoeb Cutlerywala

Client feedback 

Manjula Chawla 

Manjula Chawla is a gifted lawyer who is focused on delivering the best legal solutions to her clients 

Saket Shukla 

Saket Shukla is our go-to partner for India M&A and private equity transactions and is brilliant. He is highly respected for his formidable expertise, acuity and ability to help clients navigate complex cross-border transactions. 

Pranav Srivastava 

Partner Pranav Srivastava and principal associate Aditi Sharma are exceptional lawyers they can navigate complex transactions. They are sharp, dedicated and a pleasure to work with.” 

Labour and employment

Work highlights 

Advised a New York Stock Exchange-listed apparel retailer on the consequences of delay in increment of salaries, bonus payments, temporary lay-offs, leave without pay. The firm also advised on various aspects of employment laws, such as reduction of salary, terminations, payment of bonus under various legislations. 

Assisted Monster Energy Company on the alignment of its primary incentive plan and the agreements relating to the employee stock option plans with the requirements under Indian law.   

Key clients 

Choice Hotels, Cooper-Standard Holdings, Quaker Chemical Corporation, Visteon Corporation

Restructuring and insolvency

Work highlights 

Advising Quaker Chemical Corporation’s (QCC) Indian subsidiary on its role relating to several Indian steel manufacturing companies undergoing the corporate insolvency resolution proceedings. The deal was complex since it required ascertaining potential recovery that can be made by QCC from stressed assets. 

Assisting L Brands on exploring winding up or a buyout of one of its Indian subsidiaries as part of its global restructuring.  

Advising BNY Mellon in its claim as a financial creditor in REI Agro's liquidation process 

Key clients 

Anant Raj Global, SC Lowy, Sojitz Corporation, South Lake One

Corporate and M&A

Work highlights 

Acted for BIPS Systems on its joint venture, including securing its rights as a shareholder as well as ensuring availability of the technology to the JV entity 

Advised Pine Labs in relation to its investment by Lone Pine Capital.  

Assisting Volaris Group on the Indian elements related to the acquisition of the entire issued share capital of a UK-based company with an Indian subsidiary. 

Key clients 

Apis Partners, BYD Company, Cooper-Standard Holdings, Next Events, Visteon Corporation  

Banking and finance

Work highlights 

Advised Northern Arc Capital as the lead arranger in a pooled bond issuance by six issuers and subscribed by a foreign portfolio investor.   

Assisted arranger Vivriti Capital in a listed invoice-backed securitisation undertaken by an entity engaged in providing agricultural supply chain solutions.  

Represented Dutch Development Bank, Triodos Sicav II-Triodos Microfinance Fund and  Triodos Funds on their subscription to the issuance of non-convertible debentures by the Reserve Bank of India.  

Key clients 

Ess Kay Fincorp, Masala Investments, United States International Development Finance Corporation 


Work highlights 

Representing C-Quest Capital on its project implementation in India involving the promotion of efficient lighting and reducing energy consumption using low-cost LED lighting technology in households.  

Key clients 

Veolia Environment