-
Tier 1
Tier 2
Tier 3
Tier 4
Notable
-
Tier 1
Tier 2
Tier 3
Tier 4
Notable
-
Tier 1
Tier 2
Tier 3
Tier 4
Notable
-
Tier 1
Tier 2
Tier 3
Tier 4
Notable
-
Tier 1
Tier 2
Tier 3
Tier 4
Tier 5
Notable
-
Tier 1
Tier 2
Tier 3
Tier 4
Tier 5
Notable
-
Tier 1
Tier 2
Tier 3
Tier 4
Notable
-
Tier 1
Tier 2
Tier 3
Notable
-
Tier 1
Tier 2
Tier 3
Tier 4
Notable
-
Tier 1
Tier 2
Tier 3
Tier 4
Notable
-
Tier 1
Tier 2
Tier 3
Tier 4
Notable
-
Tier 1
Tier 2
Tier 3
Tier 4
Notable
Founded in 2019, Algo Legal is headquartered in Bengaluru and is led by founding and managing partner Sandeep Kapoor.
Focusses / specialisms
The firm has a particular focus on the technology sector and advises on a range of matters including, private equity and venture capital, mergers and acquisitions, joint ventures, and fund formation.
Key clients
Notable clients include Sequoia Capital, Insignia, Unilever, Ribbit, Gojek, Berkshire Hathaway, and SteadView Capital Management.
Founded in 1987, local law firm Bathiya Legal has a pan-India presence with offices in Mumbai, New Delhi, Hyderabad, Bengaluru, and Ahmedabad.
Focusses / specialisms
The firm is recognised for its corporate and M&A practice and has experience in a range of sectors, including real estate, technology, manufacturing, hospitality, logistics, and healthcare.
Key clients
Notable clients include Prabhat Dairy, Sun Pharmaceutical Industries, One Asia Networks, Decathlon Sports India, Sunways, and India Steel Works.
Active since 2013, local law firm Kamendu Joshi & Associates has a pan India presence with offices in cities including Mumbai, Bangaluru, Pune, Delhi, and Chennai.
Focusses / specialisms
The firm is recognized for its corporate and M&A team, which has experience in sectors such as telecommunication, manufacturing, engineering, and mining and natural resources.
Key clients
Clients include Essel Propack, ATC Telecom Infrastructure, and PGP Glass.
Client feedback: 31st edition (2020/2021)
Banking and finance
"The firm always comes forward with the solutions, which takes care of the judiciary system as well as interest of the customer."
Established in 2020, local law firm Tag & Bench is led by founding partner Shraddha Ray Menon and has an office in Gurgaon.
Focusses / specialisms
The firm is noted for its corporate and M&A team, which takes on work including inbound investments and promoter exits.
Key clients
Key clients include Accelera Enterprises USA, YFret Technologies, Airbnb India, Airbnb Global Capability Center, CBN Multimedia, The Platform, Terumo India, Monti Grupo Spa and XPND.
Client feedback: 32nd edition (2022/2023)
M&A
“Excellent communication. Thorough and diligent attention to detail and working for the best interest of us, the customer.”
Established in 1978 as primarily a litigation practice by Avnish Ahlawat, Ahlawat & Associates gradually expanded its field of services and expertise and now is a full-service law firm in India.
The firm has been recognized for its expertise in addressing an array of legal issues especially those relating to foreign direct investment, joint ventures, corporate compliance & governance as well as advisory support to the booming startup ecosystem, in both the domestic and international space, including setting up a business in India.
Founded in 1930, Desai & Diwanji is a full-service law firm with offices in Mumbai, Gurugram, Indore, New Delhi and Pune.
The firm focuses on core areas of commercial and finance activity which included corporate and M&A, capital markets, banking, finance, insurance, project finance, energy, natural resources and infrastructure, aviation, admiralty and maritime, technology, media and telecommunications, life sciences and pharmaceuticals, real estate and construction, litigation and dispute resolution, employment, employment benefits and executive compensation.
Founded in 1896 by John Kerr Fox and Gokul Chandra Mandal, Fox & Mandal (F&M) is one of India’s oldest full-service law firms. The firm has offices in Kolkata and New Delhi and led by managing partner Debanjan Mandal and joint managing partner Kunal Vajani.
The firm has expertise in diverse practice areas, including real estate, private equity, banking and finance, constitutional law, consultancy services, insolvency & bankruptcy, government advisory, and projects and infrastructure.
Founded in 2020, Juris Arena is a boutique firm based in Bengaluru, India. Key figures include partner Soumitra Banerjee.
Specializing in corporate lawthe firm's practice areas include infrastructure, real estate, fund set-up, media and telecom, mergers and acquisitions, data privacy and technology, corporate governance and microfinance.
Founded in 2004, Maheshwari and Co is a full-service law firm based in New Delhi. The firm has expertise and vast experience across various areas of practice including corporate and commercial Law, mergers and acquisitions, intellectual property rights, taxation, litigation and arbitration, insolvency and bankruptcy and immigration. Sectors of activities include automotive, food and beverages, pharmaceuticals and healthcare, startups, e-Commerce, banking and finance, infrastructure, real estate, information technology and power and telecom.
Founded in 2016, Saga Legal is a multi-service law firm with offices in New Delhi and Bangalore.
The firm specializes in several practice areas, including corporate structuring and restructuring, banking and finance, insolvency and bankruptcy laws, mergers and acquisitions, intellectual property laws, labor and employment laws, real estate, maritime laws, trust laws, tax advisory and planning, foreign exchange and contribution laws, and security laws.
Founded in 2022, Kaizen Law is a boutique and independent Indian law firm headquartered in Gurgaon, India, with a newly established office in Bangalore. Key figures include founding partner Harsh Kumar.
The firm specialize in general corporate and transactional work, including M&A, private equity (PE), and venture capital (VC). Its client includes emerging growth companies, financial investors, and listed Indian and multinational companies from diverse industries.
Highlights
In M&A, the firm advised the target Zywie Ventures, and its founders Aarti Gill and Mihir Gadani, in the sale of a controlling stake to HUL, a listed Indian company. This transaction presented several unique challenges, including a tight deadline for completing deal documents, regulatory obstacles related to the differential pricing structure for payments to the promoters and other existing shareholders, and the need to safeguard the promoters' earnout payments in the years following the initial closing.
In another notable M&A mandate, the firm advised Comic Con India and its promoters, Jatin Varma, and Karan Kalra. Nodwin Gaming, the acquirer purchased all the shares of the promoters, Jatin Varma and Karan Kalra, in the target. Nodwin Gaming paid Jatin and Karan partly in cash and partly in new shares allotted by Nodwin Gaming. Jatin and Karan continue to be engaged as consultants to the target until April 2025. As Nodwin Gaming paid Jatin and Karan partly in cash and partly in new shares allotted by Nodwin Gaming, the transaction structure triggered additional compliances under the Companies Act 2013 and SEBI regulations, which the firm had to evaluate and advise on.
Key clients
Hudson Bay’s Company, Alcobrew Distilleries India, TBO Tek, Shizuoka Gas Company, Urbanclap Technologies
Testimonials
M&A
“Kaizen Law always provides timely, to-the-point and feasible advice.”
“Subject matter expertise is commendable and always a call away whenever needed. Also, they help us land the desired output during negotiations.”
“The team is tenacious when negotiating on your behalf and they help commercial team members understand complex legal points in an easy way so we can take decisions on the deal.”
Private equity
“Kaizen Law team is very proactive and hand-on in their engagement with clients. They have never missed a deadline and it very motivated to get the transaction over the line.”
“They take genuine interest in understanding the commercial aspects of the transaction. They work in a spirt of win-win and find constructive solutions partnering with their counter parties.”
Harsh Kumar
“Clarity of thought and industry benchmarking and relevant inferences from law and industry.”
“Excellent knowledge of the law combined with ability to understand the commercial aspects of the transactions. Finds innovative solutions for tricky problems.”
“Explain complex legal terms and issues so we could take commercial decisions.”
“Harsh is one of the industry leaders in the VC/PE and M&A space in India. He is very hands on and remains motivated to get a transaction over the line. He has built a fantastic team with limited resources. He has an exceptional ability to solve problems, and he tries to find a solution that works for all stakeholders.”
“While he is the founder of Kaizen Law, he always be at the front of the deal and provides his service based on his experiences in major law firms in India.”
Clarence & Partners is a new-generation, Bengaluru-based law firm established in 2024 under the leadership of its founder, Clarence Anthony. The firm distinguishes itself through its pioneering AI-native operational framework, which integrates advanced technology directly into its legal service delivery and workflow management. The firm offers expertise across key transactional areas including M&A, private equity, venture capital and structured finance. Clarence Anthony served as the founder of the firm.
Highlights
The firm recently demonstrated its capabilities in handling innovative, cross-border, and early-stage transactions. It advised on the pioneering acquisition of India’s Trica Equity by UK sharetech leader Vestd—a complex deal that navigated multi-jurisdictional FDI and data regulations to facilitate strategic market entry and set a significant fintech precedent.
In the venture capital space, the firm represented Visceral (LV Angel Fund) in a $15 million seed investment in AI startup Mythik, which involved high-profile co-investors. This transaction required structuring sophisticated IP and data protections under evolving privacy laws, establishing a robust model for future early-stage tech investments.
Key clients
LV Angel Fund, Myriadai Technologies, Sparkassen International Development Trust GmbH (SIDT), Trica Capital, Visceral (LV Angel Fund)
Founded in 1830, Crawford Bayley & Co is one of India's oldest law firms. The firm's partners and senior lawyers possess extensive decades of experience advising leading Indian and multinational corporations. The firm is regularly engaged by major corporate houses on complex matters across multiple practice areas, including company law, securities regulations, taxation, dispute resolution, labour law, foreign exchange, and pharmaceutical law.
Founded in 2013, PLR Chambers is a law firm headquartered in New Delhi specialising in comprehensive business life-cycle advisory. The firm leverages integrated expertise from the public, private, and non-profit sectors to serve its clients.
Begur & Partners (formerly ARA LAW) was founded in 1996 and maintains offices in Mumbai and Bengaluru. Key figures include Rajesh Begur, who leads the firm as managing partner.
Focusses / specialisms
The firm is best known for its corporate and M&A and private equity practices. Sectors of activity include aviation, retail, real estate and financial services.
Key clients
Notable clients include Sequoia Capital, Semac Consultants India, Metro Cash & Carry India, Revathi Equipment, Roto Pumps, National Buildings Construction, and Karnataka State Industrial Development.
Research period review: 33rd edition (2022/2023)
During the research period, the firm was active in the M&A and private equity areas.
In M&A, the firm was active in strategic deals on both the buy and sell sides. The deals were in the education and technology, software and coding and manufacturing sectors.
In the private equity area, the team acted for investors in fundraising.
The firm welcomed partner Joy Jacob, Poonam Das and Nishi Shabana.
Deal highlights: 33rd edition (2022/2023)
Brahma Advisors’ acquisition of Wavestone India.
Gulati Steel Fab’s acquisition of 100% shareholding of Northern Tools & Gauges.
Client feedback: 33rd edition (2022/2023)
Banking and finance
“Always available, well prepared and they move really fast.”
Rajesh Begur
“He stays calm and closes the loop.”
Boutique law firm Bombay Law Chambers is active in the financial and corporate space and has offices in Mumbai, Bangalore and New Delhi.
The firm is strongest in corporate and M&A and is also active in the banking and finance and private equity areas. Sectors of experience include real estate, financial services, technology and healthcare.
Founded in 2013 in Mumbai, full-service law firm Dhaval Vussonji & Associates has a team of more than 60 lawyers in Mumbai with offices in Bengaluru and Delhi.
The firm has rich experience in advising banks, non-bank financial companies and borrowers in concluding transactions involving term lending, consortium working capital lending, and pre-shipment and post-shipment facilities, among others. It also regularly advises domestic and cross-border financing transactions in the real estate, aviation, education and shipping sectors in India, China, Singapore and Africa.
Highlights
In real estate, the firm acted as the lead transaction counsel in a pivotal real estate financing deal, securing last mile funding for the “Vanu Heights” project in Mumbai, through the issuance of Non-Convertible Debentures to SWAMIH Investment Fund I. This transaction highlights the firm’s expertise in complex real estate and corporate finance law and also underscores its ability to effectively coordinate and negotiate between multiple stakeholders under demanding conditions.
The firm was also active in restructuring and insolvency, acting for creditors, debtors, and administrators
Key clients
Suvasya Builders and Developers, Honest Shelters, Macrotech Developers (Lodha Group), SWAMIH Investment Fund I, Piramal Enterprises, Aditya Birla Real Credit Opportunities Fund, Indiabulls Infrastate
Testimonials
Manisha Paranjape
“She has an eye for detail and understands the business very well to identify key risks, segregate the same into acceptable and unacceptable risks and helps resolve the problems with relevant provisions of law/ case studies/ legal precedents.”
Established in 2015, the local law firm Gravitas Legal has two offices in New Delhi and maintains an office in Mumbai. The firm sits on the panels of several financial institutions, including HDFC Bank, State Bank of India and L&T Infra Finance.
The firm is recognised for its banking, M&A and restructuring and insolvency practices.
In addition to regular bilateral and multilateral financing transactions, the firm has been involved in novel and atypical transactions around the 5\25 flexible structuring scheme, takeout finance, refinance, S4A, OSDR and SDR.
Established in 2003, full-service law firm India Law Offices is led by founding and managing partner Gautam Khurana. The firm advises on matters across the country with offices in cities including New Delhi, Mumbai, Chennai, Bangalore, Hyderabad, and Goa. The firm is also associated with Warwick Legal Network, XLNC, IR Global, and PraeLegal.
Focusses / specialisms
The firm is recognized for its corporate and M&A capabilities. It also covers capital markets, joint ventures, private equity, restructuring, and insolvency across sectors including healthcare, construction, and infrastructure, automobile, power and energy, oil and gas, defence, real estate, IT, agriculture and FMCG.
Key clients
Key clients of the firm include Pidilite Industries, Broekman Logistics India, and COSCO Shipping.
Research period review: 32nd edition (2022/2023)
During the research cycle, the firm was active in banking and finance and corporate M&A activities.
The finance team was preoccupied with financing transactions and related mandates and acted for both lenders and borrowers in the logistics and construction sectors.
In the M&A area, the team was involved in private acquisition and share buyback activities advised acquirers and shareholders.
Deal highlights: 32nd edition (2022/2023)
Broekman Logistics India’s fund raising from Dutch bank
Founded in 2001, Hammurabi & Solomon Partners has offices in New Delhi, Mumbai, Bengaluru, Gurugram, Patna and Ranch.
The firm focuses on M&A, restructuring and insolvency and project development practices.
The firm advises defaulting companies, lenders and investors at all levels of the capital structure as well as corporates/directors, defaulting companies, banks, insolvency officeholders/trustees and government institutions.
Founded in 1994, full-service law firm Kochhar & Co caters to the Indian markets through its offices in New Delhi, Mumbai, Bangalore, Chennai, Gurgaon, Hyderabad and Chandigarh. The firm notably has an international presence with offices in Dubai, Singapore and Chicago.
Focusses / specialisms
The firm boasts well-established banking and finance, corporate and M&A, and project development practices.
The firm has expertise in advising on matters such as project contracts, project financing and infrastructure M&A.
Key clients
Key clients include Bengal Gas Company, Green Gas, Gas Authority of India Limited (GAIL),Meidensha Corporation, ITD Cementation, Afcons Infrastructure, Axis Bank, Adani Power, Azure Power, Ask Capital and Aditya Birla Finance.
Established in 1890, domestic law firm Kanga & Co has an office in Mumbai housing a team of 16 partners.
Focusses / specialisms
The firm advises clients across a range of sectors and is recognised for its banking and finance, capital markets, and corporate and M&A work.
Key clients
Key clients include GPX Global Systems, United Breweries, Sumitomo Chemical India, and Mukesh Bhuta and Medha Bhuta.
Client feedback: 32nd edition (2022/2023)
M&A
“Strategic-minded, 100% consultation with us on all matters, availability was outstanding 24x7, focused on maximising value, excellent negotiating tactics.”
Independent law firm Legasis Partners has been active since 2007 and has offices in Mumbai, New Delhi, Pune and Hyderabad.
Focusses / specialisms
The firm is active in the corporate and M&A and private equity areas. The firm takes on clients from sectors including healthcare, e-commerce, technology, and social infrastructure.
Key clients
Clients include Pegasus Fininvest Advisory, ITI Growth Opportunities Fund, 1Funds Domestic Scheme, and East West Holdings.
Client feedback: 31st edition (2020/2021)
Investment funds
"Incredible people and willing to work the extra hours towards deal closure."
Active since 2012, PSL Advocates & Solicitors is a boutique law firm with offices in Mumbai, New Delhi, Chandigarh and Bangalore. Sameer Jain is the managing partner and one of the founders of the firm.
The firm is noted for its restructuring and insolvency work and advises on matters such as debt restructuring, distressed acquisitions and sales, refinancing and insolvency proceedings.
Established in 2020, full-service law firm Sagus Legal maintains offices in New Delhi and Gurugram. Key figures include founding partner Shruti Kanodia.
The firm is recognised for its banking and finance, corporate and M&A, and project development work.
Sectors of focus include banking, energy, real estate, oil and gas, food and beverage, and fintech.
Founded in 1999, full-service law firm Rajani Associates is collated in Mumbai. Key figures include managing partner Prem Rajani.
Focusses / specialisms
The firm advises on banking and finance, capital markets, corporate and M&A, private equity, and project development mandates across a range of industries.
Key clients
Notable clients include BlackSoil Capital, Future Focus Infotech, L3 Harris Technologies, and LEAP India.
Client feedback: 31st edition (2020/2021)
M&A
"They are expert on the subject and quick on completing the documents. Mr Prem Rajani MD and associate partner Mr Amish Shroff were personally involved in completion of this agreement."
Restructuring and insolvency
"Timely updates on the matters handled. Complete professionalism in handling the matter. Approachability of all the partners."
"With in-depth knowledge of the law and best practices, they provide legal assistance in day-to-day affairs of the insolvency process. Giving opinions on legal matters in a timely manner. Proactively highlighting risk areas and guiding us in correct course of action."
Investment funds
"Good team, wanting to find amicable and practical solutions and yet standing their ground on important issues."
MVKini Law Firm is a local law firm with offices in several cities including Mumbai, New Delhi, Bengaluru, Hyderabad, Pune and Goa.
Focusses / specialisms
The firm is active in the financial and corporate space and advises on a range of matters including, IPOs, rights issues, and asset finance.
Key clients
Notable clients include WEP Solutions, Satin Creditcare Network, GM Polyplast, PlatinumOne Businees Services, Arrow Greentech, and Billwin Waterproof.
Founded in 2019, SD Partners is a law firm led by partners Shweta Dubey, operating from offices in Delhi-NCR and Mumbai with a supporting network across major Indian cities.
The firm has developed a notable M&A practice, advising clients on transaction structuring and negotiations across sectors including information technology, defense, and manufacturing. It also maintains a strong restructuring and insolvency practice, frequently representing insolvency professionals and advising on distressed asset acquisitions and disposals.
Highlights
Recent examples of the firm's deal work include advising on the sensitive, intra-group sale of minority stakes in Vision Rx Labs to its majority shareholder, a transaction that required meticulous management of valuation, shareholder dynamics, and regulatory compliance.
On the restructuring and insolvency front, the firm secured a landmark judgment for Axis Bank in the Birla Tyre matter. This precedent-setting case, which involved complex questions on security interest enforcement, clarified crucial creditor rights under India's Insolvency and Bankruptcy Code. The widely cited ruling has strengthened the recovery framework, providing greater certainty for financial institutions.
Key clients
Jindal Power, SFC Energy AG, Intello Labs, Jindal Power, Axis Bank, BDO, State Bank of India
Testimonials
“Horizontal view on Indian legal issues and network to introduce legal experts in specific domains if needed. Timely. Driven.” (M&A)
“The understanding of the total gamut of unique circumstances and giving suitable options to the client.” (M&A)
“Professional, solution oriented” (Restructuring and insolvency)
“SD Partners stands out on the legal solutions they offer to their clients and can also help with commercial parameters.” (Restructuring and insolvency)
Shweta Dubey
“Her knowledge of corporate laws, understanding of scenarios, nice drafting.”
“Provides practical solutions.”
“Shweta is efficient at devising legal strategies and approaches to resolving legal issues in Insolvency and Restructuring Engagements. Further, she's one of the few lawyers who can provide insights on the commercial parameters of M&A deals.”
Established in 2020, local law firm Stratage Law is led by managing partner Darshan Upadhyay and has an office in Mumbai.
The firm is active in the corporate and M&A and private equity areas.
Sectors of activity include real estate, hospitality, healthcare, retail, manufacturing, and food and beverage.
One of the oldest law firms in India, Fox Mandal & Associates is a full-service law firm established in 1896. The firm caters to clients across the country with offices in Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai and Pune.
The firm is recognised for its corporate and M&A, private equity and projects work. Sectors of activity include transport, hospitality, utilities, energy, logistics, technology, manufacturing, pharmaceuticals and automotive.
Highlights
Recent examples of the firm's deal work include advising on the structuring, tender drafting, and concession agreement for the Kilambakkam Bus Terminal, a major public-private partnership (PPP) project in Chennai aimed at transforming urban mobility; establishing a practical precedent for future infrastructure PPPs.
In a separate real estate transaction, the firm advised a client on the acquisition and financing of a 63-acre land parcel in Bangalore for development, securing funding from Kotak Mahindra Investments. The transaction's primary challenge was navigating the significant legal complexities inherent in large-scale land acquisitions, which demanded meticulous title due diligence and the vetting of multiple sale deeds.
Key clients
ICICI Bank, UCO Bank, ESR Group, Heat & Control Group, Vena Energy Vidyuth, ReNew Power Ventures, Akara Research and Technologies, Tamilnadu Water Investment, Piramal Enterprises, ISR Constructions
Testimonials
“In-depth knowledge of the local laws. Solution oriented approach to the issues identified and encountered during transaction.” (Real estate)
Aruna Singh
"Aruna is very good with her knowledge on the real estate assignments. Understanding of the client requirement. "
Founded in 2006, Legacy Law Offices has offices in Chandigarh, Delhi, Mohali, Solan, Kurukshetra and an associate office in Mumbai. The firm extends its presence beyond the jurisdiction with representative offices in the UK and the US.
The firm is noted for its project development practice. Sectors of activity include transport, healthcare, energy and social infrastructure.
Highlights
A significant capital market mandate saw the firm act as a legal advisor for the Initial Public Offering (IPO) of Vibhor Steel Tubes, a leading steel tube manufacturer and exporter of India. The IPO was held to be one of the most successful IPO of the year 2024 and the 3rd most successful IPO till date. The IPO has been over-subscribed by over 299 times.
Key clients
Intercontinental Consultants & Technocrats, Mienhardt Singapore, Ministry of Yemen, Nippon Koei (India), ANS Constructions, EMS, Vibhor Steel Tubes, Khambatta Securities, Narnolia Financial Services
Testimonials
Project development: Infrastructure
“Legacy has an excellent team of legal professionals who have varied expertise and experience of handling corporate legal matters in the field of project development and execution. They also are known for their track record of providing legal services for the development of different PPP projects implemented in different sectors/industries.”
“The corporate team of Legacy provides regular legal advisory and contract management services to our organization. Being our legal partners, they also handle various legal and contractual matters to ensure timely recovery of money and effectual contract performance as agreed upon, and handle other legalities associated thereof. They have a very flexible team having experience and expertise across different fields that ensures that they are capable of providing legal advice and opinions regarding legal ambiguities posed by us.”
“We have been working with Legacy for a long time and have availed their drafting, vetting and advisory services at different points. They have an excellent team of legal practitioners who are really efficient with their deliverables and timeframe to help ensure and uphold the interests of their clients in the best possible way.”
Gagan Anand
“Gagan is an extremely hard-working legal professional having decades of experience in providing corporate legal services to the clients that help with the development and construction of different infrastructure projects and provide efficient legal advisory and opinion to help their clients with any legal nuances.”
“He is an extremely diligent legal professional known for his experience and expertise in handling project development and providing legal services towards construction of projects in different sectors/industries.”
Shalini Munjal
“Shalini has been a reliable legal partner throughout the period of being associated with the firm. She is acquainted with the nuances of the construction and real estate sector and provides intelligent solutions to navigate the posed legal issues and queries. She is also aware of the commercial suitability of the legislation applicable in the sector and provides regular legal opinion to our organization to help ensure compliance and avoid any futuristic legal complications.”
Founded in 1986, Dua Associates is a full-service law firm with a pan-India presence and offices in Delhi, Bengaluru, Chennai, and Mumbai. It serves a wide spectrum of clients drawn from multinationals including from the US, Europe, Japan and ASEAN.
The firm is strongest in its work involving mergers and acquisitions, foreign direct investment, private equity and other corporate transactions. It also covers a wide range of industrial sectors including healthcare and life sciences, technology, telecommunications, insurance, real estate, projects and infrastructures.
Highlights
In a landmark insolvency matter, the firm advised Piramal Enterprises through a multi-stage case involving corporate and personal guarantors. The team secured a key victory by successfully advancing a novel interpretation of Section 18 of the Insolvency and Bankruptcy Code (IBC) to recover a high-value asset, setting a strategic precedent at the intersection of corporate and personal insolvency proceedings.
In real estate finance, the firm structured a debt facility for Ganga Global Homes for its Ganga Nandaka project. The deal's complexity stemmed from an innovative cross-mortgaging structure that pooled assets from multiple entities into a unified security package.
Key clients
Piramal Capital & Housing Finance, Shell, Altico Capital, FedEx Trade Networks Transport & Brokerage, Sammaan Capital, SBI Ventures, Assets Care & Reconstruction Enterprise
Founded in 2003 by Divjyot Singh and Suniti Kaur, Alaya Legal is a leading boutique law firm based in Delhi. The firm’s core industry sectors include energy, infrastructure, petrochemicals and information technology.
The firm has established a strong knowledge of energy and petrochemicals. Sectors of activities include oil and gas, renewable energy, port concession agreements, sub-concessions, concessions for aviation fuel farms and downstream documentation.
The firm also has experience and expertise in financial technology, data protection and privacy, artificial intelligence and cyber security.
The firm is well known for its expertise in arbitration and is known as one of the leading arbitration law firms.
International law firm Allen & Overy’s India team is made up of some 100 partners and associates. India specialists are drawn from across the firm’s international network of offices, particularly Dubai, Hong Kong, London, Singapore and New York.The firm has no office in India due to the regulations.
Focusses/ specialisms
The firm excels in foreign direct investment, M&A, banking, restructuring and insolvency, capital markets, litigation, arbitration and employment, and also the full range of business sectors, including energy, infrastructure, mining, financial institutions, private equity, insurance, telecoms, media and technology, real estate and life sciences.
Key clients
Key clients include State Bank of India, Ares SSG and BlackRock and Indian Railway Finance Corporation.
Established in 2012, Alpha Rajan & Partners is a full-service young law firm headquartered in New Delhi with additional office in Bengaluru. The firm is the result of the merger of two law firms, namely Alpha Partners and Chambers of Rajan and Indraneel.
Focusses/ specialisms
The firm specialises in advising and representing large foreign and domestic corporations with diverse business interests in India.
It assists Indian companies in fund raising (private), inorganic expansion and growth through M&A, corporate restructuring, insolvency, contract and compliance management. It helps foreign companies in setting up or doing business in India and undertaking cross-border transactions, and works with foreign law firms in advising their clients on Indian law.
Key clients
Key clients include HT Media, POPxo, Oagri Farm, New Delhi Centre for Sight, Scholar Alley, Geniemode Global and CBRE Group.
Archer & Angel is a full-service legal firm headquartered out of Delhi, India, with offices in Bangalore, Mumbai, Hyderabad and Pune.
Focusses/ specialisms
The firm is active in M&A. It advises private entities, venture capital funds and investment companies on transactions in the technology sector. It also advises its clients in IT, real estate, hospitality and manufacturing.
Clients mostly from India, the US, Europe, UK, Japan and Singapore.
Founded in 2015, Burgeon Law is a boutique law firm having offices in New Delhi and Singapore. The firm is aiming to expand its presence in Mumbai and Bengaluru.
Focusses/ specialisms
The firm is well known for its private equity and venture capital space.
Key clients
Key clients include Sky Gate Hospitality, Atlan, Animall Technologies, Drivetrain AI, Airblack Technologies, Healthy Life Holding, PayGlocal Technologies, LC Nueva AIF and Capitalgrid Technologies (Trica).
Founded in 2010, Finsec Law Advisors is a financial sector law firm based in Mumbai.
Focusses/ specialisms
The firm is a leading law firm in the financial sector regulatory practice area which includes advisory, disputes and policy. The firm focuses on the securities, investments and fintech industries in particular.
Key clients
Key clients include Association of Mutual Funds of India, CRISIL, Financial Planning Standards Board (USA), ICRA Analytics, India Ratings and Research, Pabrai Investment Fund 3, WestBridge Crossover Fund, Zerodha Broking and World Gold Council.
Client feedback: 32nd edition (2022/2023)
Capital markets
“Quick, highest accuracy, inputs received from various general practices and regulators.”
Financial services regulatory
“Finsec Law Advisors is an accomplished and one of best law firms in India.”
Founded in 2018, JoyceLaw is a boutique law firm focused on startups for the Indian market. The firm has an office in Gurgaon.
The firm is specialising in corporate transactions, including equity and debt financing, acquisitions and consolidations.
It's sectors and practice areas of expertise include Fintech, E-gaming, Software as a Service (SaaS), Direct to Consumer Brands Foreign Investment Laws, Mergers and Acquisitions, corporate finance transactions, B2B Business Models and consumer internet space.
Established by managing partner Rupin Pawha in 2005, Juris Legal is a full-service international law firm based in New Delhi.
Focusses / specialisms
The firm is well known for its corporate M&A, project, infrastructure and energy work.
In M&A, the firm has particular expertise in the formation and acquisition of entities, licensing requirements and regulatory compliances.
In project and infrastructure, the firm is active in roads, ports, government housing, airports, power, renewable energy and social infrastructure projects.
In the energy area, the firm has special experience and expertise in the oil and gas sector.
Key clients
Key clients include Federal Ministry of Coal and Federal Ministry of Petroleum and Natural Gas.
Client feedback: 32nd edition (2022/2023)
Bank lending
“Very knowledgeable and helpful.”
Financial services regulatory
“Juris Legal are incredibly responsive and very willing to take on tasks that are not necessarily within the usual role of an external lawyer to assist us in progressing tasks with other service providers and ultimately achieve our outcomes.”
Established around 1910, Mansukhlal Hiralal & Company has offices in Mumbai and Delhi. The firm are members of International Law Firms and International Advisory Experts
Corporate, especially M&A, is the core practice of the firm. In M&A, the firm is experienced on restructuring schemes of arrangements, reconstructions and demergers, leveraged buyouts and joint venture and investment agreements.
Founded in 2008, NovoJuris Legal is an innovative new-age law firm which has a primary office in Bangalore and a side office in Mumbai. Sharda Balaji is the founder and managing partner of the firm.
The firm specialises in private equity. Sector of activities include technology, startups, accelerators, R&D, electronics, e-commerce, trading, media, entertainment, BFSI, sports, real estate and telecom.
Founded in 2021, Saraf and Partners came into existence after the splitting of L&L Partners under orders of the Hon’ble Delhi High Court. The firm has offices in Delhi, Mumbai and Bengaluru. Key figures include founder and managing partner Mohit Saraf.
The firm specialises in mergers and acquisitions, banking and finance, insolvency and restructuring, capital markets, real estate, competition law, dispute resolution, projects, energy and infrastructure, and private equity.
Founded in 2018, Thinking Legal is a business-oriented, tech-enabled law firm for entrepreneurs, startups, and visionary VC funds. The firm has an office in New Delhi.
Focusses / specialisms
The firm is well known for its M&A, private equity and venture capital works.
Sector of activities include alternative investment funds, EdTech, food products, artificial intelligence, medical R&D and D2C apparel.
Key clients
Key clients include She Capital Fund, Indian Angel Network Services, Sixth Sense Fund, Zerone Microsystems, Dhruva Space, Agility Ventures Fund, Emerge Capital, Vasuki India Fund and Nomad Pizza.
One of the oldest law firms of India, Wadia Ghandy & Co was founded in 1883 with an office in what was then Bombay. It currently holds offices at Ahmedabad, Bengaluru, Chennai, Delhi, Mumbai, Pune and Singapore.
The firm is active in banking and capital markets work.
In banking, the firm has strong experience in external commercial borrowings and has advised and acted for both offshore lenders and domestic borrowers.
In capital markets, the firm is experienced on all phases of capital markets issuances, from IPOs to rights issues to debt capital markets issuances.
Established in 1978, Dave & Girish & Co is a full-service law firm headquartered in Mumbai. Key figures of the firm include founder partner Girish Dave and managing partner Mona Bhide.
Focusses / specialisms
The firm is known for its financial structuring documentation and litigations. The prime practice areas include international corporate transactions, M&A, private equity, capital markets, derivatives and project finance.
King Stubb & Kasiva is a full-service corporate law firm in India. The firm has over 100 lawyers working in offices across the country including New Delhi, Chennai, Mumbai, Bangalore, Pune, Hyderabad, Kochi & Mangalore.
The firm has extensive experience in the banking and finance area, general corporate, and private equity. It also has experience in mergers and acquisition, intellectual property, corporate finance, and regulatory matters.
Highlights
During the research period, the firm has been active in advising clients in the M&A space. In a landmark mandate, the firm advised SSW Partners, a New York-based investment partnership (SSW), on the sale of Veoneer's Restraint Control Systems (RCS) business to American Industrial Partners Fund VII (AIP). The transaction was complex and involved multiple jurisdictions, requiring the firm to align the views of experts across the industry and execute strategic planning and risk and loss mitigation.
Key clients
Veoneer, Baird Capital, Barrix Agro Services, Cleartrip Middle East, Octillion, Horizon Global
Founded in 2005, Gagrats is an Indian law firm based in Mumbai. The firm also has an associate office named Gagrat & Co in New Delhi.
The firm is strongest in its banking and finance and project development practices, it also offers a broad-based practice cutting across a wide range of legal disciplines from finance, M&A, private equity, capital markets, securitizations, and project development.
Highlights
In the banking sector, the firm has been active in advising clients on corporate finance, including on external commercial borrowings and securitizations.
The team has also been active in the capital market, assisting with the issuance of securities and related regulatory matters.
The corporate team has been advising clients on cross-border acquisitions, disposals, joint ventures, and restructuring work.
The project team has been representing foreign and domestic power companies and state electricity boards on IPPs, cogeneration projects, solar and wind power projects, and nuclear power projects. Additionally, the team has been active in advising on infrastructure projects.
Active since 2013, Advaita Legal is best known for its project development work and is also active in banking and M&A. The firm notably sits on the panels of several government bodies such as the National Skill Development Council and the Tamil Nadu Infrastructure Development Board. The firm maintains offices in Mumbai and New Delhi.
The firm is experienced in sectors including aviation, technology and telecommunication, transport, fintech, healthcare, and oil and gas.
Noteworthy clients include the Airport Authority of India, Ministry of Civil Aviation, the Inland Waterways Authority of India, and Oil and Natural Gas Corporation.
During the research period the firm often acted on behalf of government bodies.
A recent staffing change saw the departure of banking and finance and corporate partner Atul Dua, who left to pursue independent practice. Additionally, corporate partner Subodh Sadana left the firm for Khaitan & Khaitan.
Deal highlights
Bhadla Solar Park 50MW solar PV plant
Damanjodi 1MTPA alumina refinery
National Waterway -1
Nashik Smart City
Ranchi Smart City
Nashik Smart City
Client feedback
Financial services regulatory
"Understands regulation, gives good advice, is open to discussing good solutions, and is efficient and trustworthy.”
Monali Dutta
“Great support. I trust her fully to act on our behalf.”
Founded in 2004, AZB & Partners is a household name in the Indian legal market and has solidified its reputation as a top-notch corporate law firm. Ajay Bahl, Zia J. Mody and Bahram N. Vakil are the firm’s founding partners. The firm has offices in Mumbai, New Delhi, Bangalore, Pune, Chennai and GIFT City.
The firm performs consistently well in banking and finance, capital markets, corporate and M&A, private equity, and restructuring and insolvency. It takes on clients from a diverse range of sectors, including banking and financial services, energy, transport, oil and gas, automotive, technology and telecommunications, insurance, and food and beverage.
Highlights
In a landmark mandate, the firm advised Disney on its $8.5 billion media merger with Reliance Industries and Viacom18, creating India's largest TV and digital streaming platform. The deal, one of India's most significant media sector transactions, reaching over 750 million viewers, involved structuring a precise three-way joint venture and navigating complex domestic and cross-border regulatory frameworks.
In another standout mandate, the firm advised Bamboo Hotel and Global Centre on issuing one of the fiscal year's largest A+ rated non-convertible debentures to refinance debt and fund a major commercial project in Delhi's Aerocity. The transaction was complex due to its multi-lender structure with Nonbank financial companies (NBFCs) and mutual funds under a common security agreement, with further sophistication added by a green shoe option.
Key clients
HDFC Capital Advisors, IIFL Capital Services, Canara Bank, ICICI Bank, Standard Chartered Bank, BlackRock, Visa, Indian Institute of Technology, Varde Partners Asia, Everstone Capital, Oaktree Capital Management
Testimonials
“AZB has developed an in-depth understanding of our bank's priorities and strategy over the years and provides prompt, relevant and accurate legal advice whenever required.” (Banking)
“They are trustworthy, escalate concerns and are thorough in their work." (Banking)
“They stand out for their deep local M&A expertise, business-oriented approach, and consistent availability.” (M&A)
“AZB & Partners demonstrated strong cross-border due diligence capability, expertise and responsiveness throughout the transaction. Their expertise in navigating complex corporate structures ensured a seamless process. What made them stand out was their ability to work collaboratively across jurisdictions, particularly with our team at Ashitiva Advocates and Squire Patton Boggs as part of the Transaction Advisors ensuring that the due diligence exercise was not only technically sound but also commercially attuned to the project’s objectives. Their team combined technical depth with efficiency, which allowed the consortium to progress confidently.” (Project development)
Srinath Dasari
“He understands very well our business and our constraints. He is pragmatic and really hands on.”
Anuja Tiwari
“Anuja Tiwari brought clarity and precision to the due diligence process. What stood out was her expertise, responsiveness and ability to engage constructively with our team at Ashitiva Advocates, ensuring alignment between Indian law and Kenyan regulatory requirements. She was efficient, pragmatic, and consistently solution oriented, which added real value to the transaction.”
“Prompt response.”
Hufriz Wadia
“Hufriz is great at understanding requirements in detail and well versed with Indian laws and regulations. She also always provides relevant advice on a timely basis.”
“She has great experience and clarity of thought and is well aware of commercial aspects of a transaction.”
