Veritas Legal

India

Analysis

Overview

Founded in 2015, Veritas Legal’s bread and butter are its corporate and M&A, and private equity practices, with its dispute resolution offering rapidly rising in prominence. For its size, the firm punches above its weight, amassing an impressed deal flow and volume last year. It consistently placed in respected M&A and PE league tables within the top 10 of all Indian law firms. Sector-wise, it is deepening its footprint in pharmaceuticals and life sciences, real estate, and technology and telecommunications. Founder and managing partner Abhijit Joshi is a highly respected M&A and private equity lawyer, and partner Rahul Dwarkadas specialises in dispute resolution.  Other key partners include Nandish Vyas, Kunal Doshi and Tushar Raut. The team was boosted in the past year by the recruitment of partners Srabonee Roy and Manav Raheja from Samvad Partners and J Sagar Associates, respectively.  

Client feedback 

Great firm with competencedepth and great client relationships. – Private client 

Veritas' diligence in studying the situation builds my confidence in the engagement. In addition, the firm displayed ownership even in the face of resistance from me. I appreciated that immensely. – Private equity 

Abhijit Joshi 

Highly competent with technical depth. 

Nandish Vyas 

Nandish is sharp and has impeccable work ethic. He not only suggests the right direction for his client, but also stands by it when it's challenging to pursue it. 

Private equity

Work highlights 

Advised Goldman Sachs in relation to different investments in Manash Lifestyle Private Limited (Purplle) and acquisition by Goldman Sachs of a minority stake from 2 existing shareholders of Purplle. 

Represented Partners Group on the $250 million acquisition of approximately 38.41% of the equity share capital of Ecom Express Private. 

Acted for TPG Growth VSF Markets Pte Ltd. on its investment in Firstcry 

Key clients 

CravatexEpiq Capital, Kedaara Capital Fund, Komorebi Tech Solutions, Mayfield India 

Dispute resolution

Work highlights 

Acting for Deloitte Haskins & Sells before several different judicial bodies in challenging the validity of the direction issued by the Government of India sanctioning prosecution and initiation of various proceedings in relation to the audit performed by it for IL&FS Financial Services. This is the first case of its kind where newly appointed Regulators like the Serious Fraud Investigation Office and the National Financing Reporting Authority are exercising their powers.   

Represented ICICI Bank in a writ petition filed against it by its former CEO and managing director, who challenged the decision of the client’s board of directors to treat her early retirement as termination for cause to claw back the bonuses paid to her from a certain date onwards.  

Acting for the Central Depository Services in several litigations filed by investors.  

Key clients 

Huntsman International, K Raheja 

Corporate and M&A

Work highlights 

Advised Kedaara Capital in its $78 million acquisition of Religare Health Insurance Company 

Acted for Signet Excipients Private and its promoters on the sale of its majority stake to IMCD 

Key clients 

BLST International, Goldman Sachs Asia Strategic, International Paper Company, Nova Medical Centres, RWS UK Holding Company  

Competition/antitrust

Work highlights 

Acted for HoteLeelaventure, now known as HLV, and its promoters in connection with the sale of various hotels to BSREP III India Ballet, part of Brookfield Asset Management’s private real estate fund. 

Advised TPG Growth Fund and CTSI India in relation to the acquisition of Cancer Treatment Services International by Varian Medical Systems. The deal marked one of the most significant exits by a healthcare platform owned by a private equity fund.  

Represented Siemens in relation to its sale of manufacturing unit and its land, located in Gujarat, to LM Wind Power Blades India. 

Key clients 

International Paper Company, SPi Global Content Holding, Partners Group, Ugam Solutions