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Bankers’ counsel in India expect revised takeover rules to have little impact unless implementation issues are addressed

Running what amounts to a small in-house law firm at the business process outsourcing subsidiary of Indian IT company Infosys, head of legal Neil Mathur is bullish about legislative developments

Intellectual property work in India has blossomed in recent years as domestic and international companies have looked long and hard at their portfolios in the wake of the global financial crisis and stepped up measures to protect their IP rights.

The second annual India Awards, co-hosted by Euromoney Legal Media Group titles International Financial Law Review and Asialaw, took place at the ITC Grand Central Hotel in Mumbai on July 7. The large attendance suggested that a dedicated Indian law awards ceremony is an event that has been truly embraced by both the domestic and international legal professions

Most active legal advisers (private equity) – CY 10 (updated for Dec 31) Rank Firm name No. of Transactions Points Amount (US$M) 1 AZB & Partners 43 86 2354 2 ALMT Legal 19 38 n/a 2 Indus Law 19 38 n/a 3 DSK Legal 15 30 n/a 3 Tatva Legal 15 30 n/a 4 Amarchand & Mangaldas 13 26 1260 5 Trilegal 12 24 215 6 J Sagar Associates 11 22 597 6 Rajani Associates 11 22 n/a 7 Nishith Desai Associates 9 18 n/a 8 APJ-SLG 8 16 n/a 9 ARA Law 7 14 n/a 9 Klaw 7 14 n/a 10 Khaitan & Co 6 12 n/a 10 Luthra & Luthra 6 12 446 11 Gandhi Associates 4 8 n/a 11 Lexygen 4 8 505 11 Sand Hill Counsel 4 8 40 12 S&R Associates 2 4 n/a Source: Venture Intelligence Leading private equity lawyers Aliff Fazelbhoy

By Cyril Shroff, managing partner and Rishabh Shroff, associate, Amarchand & Mangaldas

In July this year, a panel of secretaries of the Indian government approved a proposal permitting offshore multi-brand retailers to hold up to 51% in Indian companies in the retail sector. This development has been met with great cheer in the legal market. Though the proposal is set to go through several rounds of approval before being formalised, lawyers are excited for the opportunities this development might present.

A conversation with capital markets practitioners from Linklaters

Leading global PFI/PPP project finance deal firms Rank Legal adviser Value US$m Deals % share 1 Amarchand & Mangaldas & Suresh A Shroff & Co 3,549 2 8.4 2 Linklaters 3,379 6 8 3 White & Case 3,263 4 7.7 4 Luthra & Luthra 2,991 4 7.1 5 Hogan Lovells International 2,770 3 6.6 6 Allen & Overy 2,752 6 6.5 7 India Law Services 2,306 4 5.5 8 R & A Legal Advocates 1,577 6 3.7 8 Clifford Chance 1,352 6 3.2 10 Allens Arthur Robinson 1,079 3 2.6

The Reserve Bank of India (RBI) has made it clear that, from a regulatory standpoint, it prefers that foreign banks operate in India through the subsidiary route. Such a route is not mandatory at the moment, and there remain uncertainties and concerns that will need to be addressed before many foreign banks go down that road