Cyril Amarchand Mangaldas

One of leading Indian law firms Cyril Amarchand Mangaldas keeps its ‘Outstanding’ ranking in different practice areas and sectors like banking and finance, corporate and M&A, dispute resolution, investment funds and private equity, infrastructure and media and entertainment, among others. Managing partner Cyril Shroff is widely recognised for his expertise in banking and finance, corporate and M&A, capital markets, and disputes and rich experience in different sectors.

Banking and finance

Work highlights

Advised a consortium of lenders arranged by the Singapore branch of Deutsche Bank and Nomura International in providing a $75 million financing to Great Terrain Investment for its secondary acquisition of a significant stake in Computer Age Management Services, an Indian mutual fund transfer agency.

Advised Credit Suisse Finance, Hero FinCorp and Kotak Mahindra Prime in relation to the term loan valued at Re7.95 billion to Metz Advisory, which was secured by a pledge over the shares of Metropolis Healthcare and Bacchus Hospitality Services and Real Estate, the borrowers’ movable assets. The loan was used to facilitate the proposed merger of these two companies.

Key clients

Essar Global Fund, Essar Ports & Terminals, KKR India Asset Finance, KKR India Financial Services, Yes Bank

Capital markets

Work highlights

Advising Embassy Office Parks REIT, its sponsors, manager and the selling unitholders, in relation to the establishment and IPO of the REIT that consists of a fresh issue of units with an aggregate approximate value of $750 million. As a result, a large office portfolio will be formed with the pooling of 13 assets with the total value of Re32.7 billion owned by Embassy Group and The Blackstone Group under the REIT.

Key clients

Axis Capital, Bandhan Bank, IndInfravit Trust, Kerala Infrastructure Investment Fund Board, L&T Infrastructure Development Projects, SBI Capital Markets, Tata Steel

Competition/antitrust

Work highlights

Represented Reliance Industries in gaining approval from the Competition Commission of India to acquire Hathway Cable and Datacom. The firm drafted the merger notification and conducted a competition impact assessment to prove that the transaction would not led to any adverse effect on competition in any market.

Key clients

Flipkart Internet, Hindustan Unilever, Samara Alternate Investment Fund, Witzig Advisory Services

Corporate and M&A

Work highlights

Advised a consortium of 18 lenders led by the State Bank of India on a share purchase agreement with Renascent Power Ventures for acquiring the majority stake of Prayagraj Power Generation Company. The firm also advised the lenders in conducting multiple rounds of bidding to identify a strategic and/or financial investor for the acquisition.

Advised Fortis Healthcare on the demerger of its healthcare and hospital business and the combination of the entities into Manipal Healthcare Enterprises, which would become the largest provider of healthcare services in India, and it would be listed on Bombay Stock Exchange and National Stock Exchange of India.

Key clients

ABB Asea Brown Boveri, Caisse de dépôt et placement du Québec, IDBI Bank, Procter & Gamble Company, Reliance Industries, The Kraft Heinz Company

Dispute resolution

Work highlights

Representing the Board of Control for Cricket in India with Herbert Smith Freehills in relation to the arbitration over the damage claim of approximately $62.9 million initiated by the Pakistan Cricket Board before the Dispute Resolution Committee of the International Cricket Council. The petitioner alleged that there was a breach of a letter from the client on the 2014 and 2014 tours to Pakistan that did not take place.

Investment funds

Work highlights

Advised National Investment and Infrastructure Fund on the establishment of its fund of funds that aims to invest in funds managed by third party fund managers who have a worthy track record in infrastructure and associated sectors in India, which can further the Indian government’s objective to promote investment in infrastructure development in the country.

Key clients

Canada Pension Plan Investment Board, Capital Dynamics, Department of Investment and Public Asset Management, Edelweiss Alternative Asset Advisors, IDFC Alternatives

Intellectual property

Work highlights

Representing Nintendo in filing and maintaining its trademarks as well as contentious proceedings before the Trademarks Registry. The firm also files oppositions, drafts cease and desist letters and send them to various applicants misusing and trying to obtain statutory rights in trademarks identical or similar to Nintendo’s marks.

Key clients

BMW, Bobst Mex, Boiler Room, Discovery Networks Asia-Pacific, Discovery Communications India, Mulberry Company, Sports Supplements, Yogi Tea

Labour and employment

Work highlights

Advised Procter & Gamble Company on the transfer of non-consumer health business employees from the listed Indian company Merck to one of its entities in India, and the transfer of employees involved in consumer health business but employed by other Merck entities in India to Merck as the client was acquiring Merck through its subsidiary Procter & Gambler Overseas India.

Key clients

Bank of America Merrill Lynch, Exxon Mobil Services & Technology, People Interactive, Thomson Reuters India

Private equity

Work highlights

Advised the fund of funds under National Investment and Infrastructure Fund and the UK’s Department of International Development on investing £120 million each in the Green Growth Equity Fund, a domestic alternative investment fund managed by the joint venture between the private equity firms Everstone Capital and Lightsource BP. This fund aims to invest in opportunities related to green infrastructures, such as renewables, energy generation, energy storage and energy distribution.

Advised SoftBank Group Capital, SVF India Holdings and Star Virtue Investment on their investment in Oravel Stays, an Indian company that runs hotel booking platform OYO Rooms.

Key clients

CA Emerald Investments, KKR, Supermarket Grocery Supplies

Regulatory

Work highlights

Advised Jet Privilege on the collection and processing of information and the cross-border transfer among the vendors outside India based on the Indian data protection laws and the EU’s General Data Protection Regulations (GDPR).

Key clients

Qube Cinemas Technologies, True Software Scandinavia, Sunrisers Hyderabad, Sun TV Network

Restructuring and insolvency

Work highlights

Advised the resolution professional of Essar Steel India and his advisor Alvarez & Marsal India on the corporate insolvency resolution process of the corporation, including, the invitation, evaluation and approval of the resolution plans submitted by the resolution applicants and related litigations.

Key clients

ICICI Bank, Infrastructure Leasing and Financial Services, Punjab National Bank, State Bank of India

Tax

Work highlights

Provided direct and indirect tax advice to MAN Trucks & Bus on the closedown of its factory in Pithampur.

Key clients

Adler Mediequip, Alcatel Submarine Networks, Engineers India

Client feedback

“Very proactive and fast in their deliveries. They are solution-oriented and at the same time not compromising on appropriate legal advice, no matter how much pressure they receive from the client. ” – Competition/antitrust

“They understand issues and are capable of providing necessary clarifications. They can also respond to our queries and help us make the right decision.” – Labour and employment

Santosh Janakiram

“An extremely motivated and client-focused lawyer, and a leader in the projects and banking space. He is also responsive and available at all times.”

Avaantika Kakkar

“Avaantika is prompt and very professional in her responses. She has innovative ideas and solutions to the problem at hand.”

Rashmi Pradeep

“He has subject matter expertise and awareness of the external ecosystems. He shares the best practices and is willing to support customer requirements. Listening skills are also his strengths.”