IFLR/Asialaw India Awards 2012: winners announced

Author: IFLR Correspondent | Published: 9 Jul 2012
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The winners of this year’s IFLR/Asialaw India Awards have been announced. For all deal, team and firm of the year winners, please see below.

Almost 150 leading practitioners from all segments of India’s legal profession attended this year’s awards ceremony, which took place on Thursday July 5 at the Trident Hotel in Mumbai.

The Awards celebrated the recent achievements of India’s finest legal minds. The ceremony was particularly poignant this year as it comes during what has been described as a ‘rough patch’ for Asia’s third-largest economy. To support this prognosis, one need only consider the first quarter’s growth rate of 5.3%, which was the slowest recorded for nine years.

Then there’s the fact that fiscal and trade deficits are soaring, the rupee has fallen almost 25% against the US dollar in the past year, reforms are stalled due to a hesitant government, inflation is high and investment and consumption are down.

This has all led to the ratings agencies downgrading their outlook for the Indian economy, with Standard & Poor’s warning that India may lose its investment-grade status.

India’s economy is of course largely reliant on domestic demand, and while this has slowed, the confidence of foreign investors was certainly not helped by the recent debate over retroactive tax legislation.

But there is light at the end of the tunnel, and India’s legal profession has a vital role to play in ensuring that this light gets brighter.

For example, Prime Minister Manmohan Singh has unveiled a series of projects to kickstart investment. These include plans to build new highways, airports and ports during this fiscal year – with much importance being given to public-private partnerships in order to help foot the bill.

And the limit on foreign investment in government bonds has been increased in an effort to prop up the rupee – with sovereign wealth funds, endowment funds, pension funds and foreign central banks all now permitted to invest in government bonds.

Although such measures will likely have limited impact in the short-term, the Prime Minister’s top economic adviser, C Rangarajan, was recently quoted as saying: “Although the correction will happen only when the capital flows come in ... the avenues have now been opened.”

IFLR and Asialaw will follow these developments with interest.

The IFLR awards are unique in only rewarding legal innovation on complex transactions. We don’t care about size, time or media attention. This is about legal invention and precedent.

IFLR and Asialaw contacted Indian and international law firms in early March with a request for submissions detailing innovative deals across a number of practice areas during 2011. Only deals that included a significant India element to them and that closed between January 1 2011 and December 31 2011 were eligible for inclusion. Confidential transactions and those that did not complete were not considered.

A full write-up of the 2012 IFLR/Asialaw India Awards will appear in IFLR and Asialaw’s annual India Review: a dedicated annual guide to legal developments in India, which will be published in September.

The full list of winners is listed below. For more information, please contact Simon King at simon.king@euromoneyasia.com.

   

Categories

DEALS OF THE YEAR

Debt and Equity-Linked

Winner

Ballarpur hybrid offering

Allen & Overy

Clifford Chance

DLA Piper

Luthra & Luthra

Shearn Delamore & Co

 

Equity 

Winner

Power Finance Corporation further public offering

Amarchand Mangaldas

AZB & Partners

DLA Piper

O'Melveny & Myers

 

M&A

Winner

BP – Reliance Industries

Allen & Overy

AZB & Partners

Linklaters

Talwar Thakore & Associates

Vinson & Elkins

 

Private Equity 

Winner

TPG, Shriram – Vishal Retail

AZB & Partners

Cleary Gottlieb

Kochhar & Co

Trilegal

Zeus Law Associates

 

Restructuring 

Winner

GTL Group debt restructuring

Alliance Legal

Luthra & Luthra

Wadia Ghandy & Co

 

Project Finance

Winner

Alstom-Bharat Forge JV Mundra SEZ project financing

Bharucha & Partners

Luthra & Luthra

Norton Rose

 

Infrastructure & Real Estate

Winner

MSI – Isolux Corsán Concesiones JV

Allen & Overy

Amarchand Mangaldas

AZB & Partners

Davis Polk & Wardwell

De Brauw Blackstone Westbroek

Garrigues

Uría Menéndez

 

TEAMS OF THE YEAR

Capital Markets – Indian

Winner

Amarchand Mangaldas

 

Capital Markets – International

Winner

Latham & Watkins

 

M&A – Indian 

Winner

AZB & Partners

 

M&A – International 

Winner

Linklaters

 

Private Equity – Indian

Winner

Khaitan & Co

 

Private Equity – International 

Winner

Kirkland & Ellis

 

Restructuring

Winner

Luthra & Luthra

 

Project Finance – Indian

Winner

Trilegal

 

Project Finance – International 

Winner

Clifford Chance

 

 

 

IN-HOUSE TEAMS OF THE YEAR

Capital Markets

Winner

ICICI Bank

 

M&A

Winner

Vedanta Resources

 

Private Equity

Winner

Blackstone Group

 

Restructuring

Winner

GTL

 

Project Finance

Winner

Infrastructure Development Finance Company

 

Investment Bank – Indian

Winner

Yes Bank

 

Investment Bank – International 

Winner

Bank of America Merrill Lynch

 

Company – Indian

Winner

Essar Group

 

Company – International

Winner

iGATE Corporation

 

 

 

FIRMS OF THE YEAR

Dispute Resolution

Winner

J Sagar Associates

 

Infrastructure

Winner

Luthra & Luthra

 

Real Estate

Winner

Wadia Ghandy & Co

 

Intellectual Property

Winner

Anand & Anand

 

Labour & Employment

Winner

Majmudar & Partners

 

TMT

Winner

Nishith Desai Associates

 

Bangalore

Winner

Amarchand Mangaldas

 

Calcutta

Winner

Khaitan & Co

 

Chennai

Winner

Surana & Surana International Attorneys

 

Hyderabad

Winner

IndusLaw

 

Mumbai

Winner

Khaitan & Co

 

New Delhi

Winner

Luthra & Luthra

 

 

OUTSTANDING ACHIEVEMENT AWARD

Winner

KK Venugopal, senior advocate, Supreme Court of India

 

 

INDIAN & INTERNATIONAL FIRMS OF THE YEAR

 

Indian Firm of the Year

Winner

Amarchand Mangaldas

 

International Firm of the Year

Winner

Allen & Overy

 


 

 

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