Veritas Legal

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.  

Corporate and M&A

Work highlights

Acted for Hotel Leelaventure, 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 a 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

Dispute resolution

Work highlights

Successfully defended Hotel Leela Venture in a challenge by ITC, a domestic hotelier and minority shareholder in the client, to the sale of some of the client’s undertakings to Brookfield Asset Management to wipe off $1 billion in debt. ITC argued that the sale was contrary to the interests of the minority shareholders.

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 a termination for cause to claw back the bonuses paid to her from a certain date onwards.

Key clients

GVK Airport Holdings, Remondis Aqua

Pharmaceuticals and life sciences

Work highlights

Advised Nephrocare Health Services in the acquisition of DaVita Care India from DaVita Care.

Acted for Hospira Healthcare India on the transfer of its business to ICU Medical India, which was part of the global deal where Pfizer transferred, at a global level, its IV pumps, solutions, and devices business to ICU Medical.

Key clients

Cipla, Claris Lifesciences, Glenmark Pharmaceuticals, Pfizer, Recipharm

Private equity 

Work highlights

Acted for and Asia Healthcare Holdings, a healthcare operating platform founded by TPG Growth, in the acquisition of a substantial majority stake in Nova Medical Centre.

Advised Partners Group on the sale of its stake in Eurokids International and Euroschool to KKR.

Key clients

Cravatex, Goldman Sachs Asia Strategic, Kedaara Capital Fund II, Z3Partners

Technology and telecommunications 

Work highlights

Represented Loop Mobile on the sale of its Mumbai business to Airtel.

Acted for Ericsson for certain long-term supply contracts with telecom operators and other commercial agreements.

Key clients

Augere, Hutchison, Microqual Techno, Tata Teleservices