Shardul Amarchand Mangaldas & Co

(The following information was supplied by the firm)

Firm Overview:
Shardul Amarchand Mangaldas & Co, founded on a century of legal achievements, is among India’s leading full service law firms. The firm’s mission is to enable business by providing solutions as trusted advisors through excellence, responsiveness, innovation, and collaboration.

With over 670 lawyers including 120 partners spread across offices in seven locations in India, Shardul Amarchand Mangaldas & Co is one of India’s biggest and most well-reputed law firms. The firm’s lawyers create bespoke and comprehensive solutions for its multi-jurisdictional clients.

The firm is at the helm of major headline transactions in all segments of industry and business. The firm represents major transnational corporates on their India entry and business strategy and is known globally for its exceptional merger & acquisition, tax, competition law, dispute resolution & arbitration, regulatory litigation, capital markets and private equity practices.

Main Areas of Expertise:
■ General Corporate
■ Mergers & Acquisitions
■ Private Equity
■ Banking & Finance
■ Competition Law
■ Insolvency & Bankruptcy
■ Dispute Resolution
■ Projects & Project Finance
■ Capital Markets
■ Tax
■ Intellectual Property

General Corporate:
The firm’s work in the areas of mergers and acquisitions, JVs, private equity and business restructuring is highly regarded. The firm’s competition law, intellectual property and regulatory teams work very closely with the corporate teams for facilitating deal closures. The firm’s insurance practice is robust and well recognised.

Banking & Finance:
The team’s offerings range from traditional banking documentation to securitisation, factoring, setting up payment banks, syndicated loans, structured finance, acquisition finance and mortgage backed securities, guarantee structures, equipment financing, non-convertible debentures, external commercial borrowings and working capital loans.

Insolvency & Bankruptcy:
The firm has a highly skilled and diversified Bankruptcy and Restructuring Practice. The team’s experience covers an entire range of scenarios relating to bankruptcy and insolvency, starting from early signs of distress to corporates and restructuring towards revival to processes involving liquidation and winding down of businesses. The team provides a comprehensive solution in terms of financial restructuring and recovery, insolvency, corporate reorganisation and restructuring, creditors’ rights, and contingent preparedness against any peripheral litigation.

Competition Law:
With a strong and recognised competition practice in India, the 21-member strong competition team has a proven track record of successfully steering clients through the team’s largest transactions, complex investigations and high-stakes litigation.

Dispute Resolution:
Shardul Amarchand Mangaldas & Co is a go-to firm for domestic & international arbitrations, commercial & corporate and regulatory disputes in various courts, tribunals, forums, administrative authorities & regulators in India.

Projects & Project Finance:
The firm advises developers, EPC contractors, investors and lenders on various infrastructure projects in sectors such as power, oil & gas, nuclear energy, ports, roads and mining. The firm advises on regulatory aspects, contractual issues and government tendering aspects typically associated with such large scale projects.

Capital Markets:
The firm’s offerings include legal and regulatory advice on IPOs, FPOs, rights issues, QIPs, ADRs, GDRs, IDRs, AIM listings, on the Equity side. On the debt capital markets side, our offerings include issuance and restructuring of FCCBs, non-convertible bonds, unlisted infrastructure bonds, and medium term note programs (MTN Programs). The firm also has a well-developed financial regulatory practice (FRP).

The firm offers a broad range of direct and indirect tax services (including customs duty, central excise, service tax value added tax, central sales tax, state excise duty etc.) ranging from tax planning, advisory, implementation, documentation, representation and litigation support. The firm has been instrumental in providing tax advice for international transactions, in addition to being involved in advising and structuring major transactions in India.

Intellectual Property:
The firm offers a full range of services that cover patents, trademarks, copyrights, designs and other allied laws, from conceptualisation to enforcement and from negotiations to creation of innovative corporate structures based on intellectual property.

Key Contacts

Executive Chairman

Mr. Shardul S. Shroff,

Managing Partner New Delhi Office

Ms. Pallavi Shroff

Managing Partner, Mumbai Office

Mr. Akshay Chudasama

Firm Rankings

Band 1

Banking & Finance
Band 1

Capital Markets
Band 1

Capital Markets: Debt
Band 1

Capital markets: Equity
Band 1

Band 1

Band 1

Dispute Resolution
Band 1

Band 1

Band 2


Band 1


Band 1


Labour & Employment
Band 3


Band 1

Private Client
Band 1

Private Equity
Band 1


Band 1


Real Estate
Band 1


Restructuring & Insolvency
Band 1

Band 2


Band 1


White-Collar Crime
Band 1


Standing committee on finance presents report on competition (amendment) bill

The Parliamentary Standing Committee on Finance has recently presented its report on the Competition (Amendment) Bill to the Indian Parliament. The committee has recommended several important amendments to the Bill including introduction of a deal value threshold and have also introduced procedural timelines for merger review. Read more

Arbitration case insight

In this newsletter we analyse a recent development where in The High Court of Delhi has clarified that Section 14 of the Arbitration and Conciliation Act, 1996 cannot be invoked to raise a challenge to appointment of an arbitrator on the grounds of bias. The decision strengthens the primacy of the arbitral tribunal to decide […]

Energy conservation (amendment) bill, 2022 passed by the parliament of India

Both houses of the Parliament of India have approved the Energy Conservation (Amendment) Bill, 2022, with the Rajya Sabha passing it on 12 December, 2022. The amendment is aimed at providing a timely and futuristic initiative for achieving the targets under its Nationally Determined Contributions[1] under the Paris Agreement to address climate change. The Prime Minister […]

Data protection bill: A step closer to a dedicated data protection framework November 23, 2022

The Draft Digital Personal Data Protection Bill, 2022 comes on the heels of the Personal Data Protection Bill, 2019 being withdrawn from Parliament. The draft Bill is a culmination of several rounds of discussions with and within the Ministry of Electronics and Information Technology. The current version has been released for stakeholder feedback nearly three […]

Surge in direct tax collections: Here are the underlying factors

A recent CBDT press release has pegged the provisional direct tax collection figure for FY2022-23 to be Rs 6.48 lakh crore as on 8 September 2022, which is a whopping 35.46 percent higher than the gross collections for the last year’s corresponding period. What is noteworthy is that income tax refunds of Rs 1.19 lakh […]

Recent amendments to the SEBI ICDR Regulations

On November 23, 2022, the most recent set of amendments to the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 came into effect bringing with it an option to confidentially file draft offer documents with SEBI and an expanded disclosure regime for key performance indicators. Read more

Alternative investment funds are poised for growth

Recent years have seen significant growth in alternative investment funds (AIF), domestic privately-pooled investment vehicles for private and public market investments. Belying the general economic slow-down following the covid-19 pandemic and the Russia-Ukraine war, commitments to AIFs grew to INR6.94 trillion (USD8.43 billion) by June 2022. This is a growth of 42% over the year […]

Breaking down some grey areas in the new overseas investment framework

The new Overseas Investment (“OI”) framework, which comprises the Foreign Exchange Management (Overseas Investment) Rules, 2022 (“Rules”), the Foreign Exchange Management (Overseas Investment) Regulations, 2022 (“Regulations”) and the Foreign Exchange Management (Overseas Investment) Directions, 2022 (“Directions”), was conceived in an attempt to rationalize the erstwhile framework with the government’s larger “ease of doing business” objective. […]

Arbitration case insight

Brief Facts The plaintiff and the defendant executed a sole distribution agreement (“Agreement”) for supply of certain goods. In terms of the Agreement, the defendant issued a purchase order on the plaintiff for supply of the said goods. Pursuant to the purchase order, the plaintiff supplied the goods and raised three invoices on the defendant. […]

Supreme Court’s Vidarbha ruling undermines India’s insolvency law

Widespread controversy has been sparked by the Supreme Court judgment in Vidarbha Industries Power v Axis Bank, overturning settled law that now requires adjudicating authorities to look beyond existence of debt and default while deciding admissibility of applications filed under section 7 of the Insolvency and Bankruptcy Code, 2016. The apex court stayed admission of […]

Guidelines on digital lending: First impressions and questions

The Reserve Bank of India (RBI) has issued the Guidelines on Digital Lending on September 02, 2022 (“Guidelines”) laying down the directions on matters covered in Annex-1 of the press release titled ‘Recommendations of the Working group on Digital Lending – Implementation’ dated August 10, 2022 (Press Release). Key highlights Applicability and timelines The Guidelines […]

Insolvency: What is important about ‘information utilities’

How a record of default held by ‘information utilities’ will ensure timely resolution ‘Information utilities’ (IU) established under the Insolvency and Bankruptcy Code provide authenticated information about debt and default, which an adjudicating authority can rely on as evidence of money owed by the company facing insolvency. The intention is that the adjudicating authority should […]

How Indian pharma can stand up to competition with these 4 simple steps

India’s pharmaceutical sector caters to 20 percent of the global demand for generic drugs and 60 percent of the global demand for vaccination. Notably, we also have the largest number of pharma manufacturing sites approved by the United States Food and Drug Administration (USFDA) outside of the United States. Read more

Towards a carbon-neutral India…

Towards a carbon-neutral India: How central, state governments, and corporations are striving to tackle the planetary crisis One of the few positive outcomes of the United Nations Climate Change Conference (COP26) is the commitment by major nations to achieve net zero carbon emissions by a certain year. India has also committed to becoming a net […]

Competition amendment bill: Revising a relatively ‘modern’ law

Competition amendment bill: Revising a relatively ‘modern’ law to meet the challenges of modern markets The Competition (Amendment) Bill, 2022 updates the existing framework for addressing anti-competitive agreements, abuse of dominance and mergers and amalgamations (M&A). The Competition Act, 2002, and the Competition Commission of India (CCI) as the primary market watchdog, have been in […]

RBI takes credit for curbing PPI financing

On June 20, 2022, the Reserve Bank of India (RBI) issued directions to all non-bank prepaid payment instrument (PPI) issuers that loading of PPIs through credit lines was not permitted (PPI credit circular). This clarification was aimed at the several PPI credit-linked products offered by PPI issuers in partnership with banks and non-bank financial companies […]

Role of ESG compliant companies in nature conservation

We are living in critical times where our conduct towards the natural environment over the next few years will decide the fate of humanity on this earth. We are already facing the severe consequences of environmental damage in the form of natural resource depletion, climate change, pollution etc. Having realized the criticality of the situation, […]

The Practical Lawyer

It was a deal that involved the Raymond Group’s cement business being sold to the French player Lafarge. Akshay Chudasama was then the attorney representing textile house Raymond with Zia Mody on the opposite side for Lafarge. “There’s many moving parts and multiple conditions precedent when a big deal is being done and the whole […]

Rise in pharma sector & what it means for India

India has achieved a significant position in the global pharmaceutical market, and it has become a significant player in the manufacture and export of pharmaceutical products and related services which include generic drugs, over the counter (OTC) medicines, bulk drugs, vaccines, biosimilar and biologics, and contract research & manufacturing services. During 2020-21, the total pharma […]

Improper communication in M&A leads to trouble

he restrictions on sharing unpublished price sensitive information (UPSI) are strict and not typical of the way such information is dealt with globally. However, by now, most stakeholders are comfortable with the standard requirements concerning board resolutions, confidentiality agreements and structured digital databases.     In recent times, the Securities and Exchange Board of India […]

A Comparison of M&A regulatory updates

Global M&A activity has climbed sharply since last year, creating opportunities in emerging markets like India and the Philippines, which have relaxed and liberalised their investment policies India witnessed its highest level of deal-making in 2021 by both value and volume as the stock market boomed along with phenomenal IPO exits and long-awaited resolutions to […]

Transition bonds: Will it help transform India into a climate-resilient economy?

Climate finance continues to be a critical issue in climate change negotiations. Building climate resilient economies will require significant investments in most sectors. As per the Organisation for Economic Cooperation and Development (OECD), investment of around USD 6 trillion per year by 2030 will be required in the infrastructure sector alone to make it aligned […]

ESG is a state of mind

In an interaction with Urvi Shrivastav, Editorial, BW Businessworld, Nawneet Vibhaw, Partner in the Environmental Law practice at Shardul Amarchand Mangaldas & Co. speaks about the growing importance of ESG, why corporates must adapt to the changing times, and what they can do to achieve the same.     What does ESG mean to you? […]

10 Steps to follow for seamless PF withdrawal

The Employees’ Provident Fund Organisation (EPFO) has had a paper-based system of processes for a considerable time. Recently though, it has adopted a progressive approach, and has transitioned to a modern, digital and paperless system. Some of these changes include online claim process, doing away with employer attestation, e-nomination, and e-KYC, among others Withdrawal Under […]

Union Budget 2022: Proposed amendments to the Insolvency and Bankruptcy Code

Following the finance minister’s speech proposing the Union Budget 2022, Parliament is likely to consider further amendments to the Insolvency and Bankruptcy Code 2016 (IBC) in 2022. What is likely to be proposed? The finance minister’s speech followed two notices inviting public comments, that the government released at the end of 2021. Together, these suggest […]

Regulating Indian MedTech sector: A ‘device’ for promoting investments?

Fourth largest in Asia and among the top 20 in the world, the Indian MedTech (short for ‘medical technology’) sector holds the potential to attain a market size of USD 50 billion by 2025. Comprising of healthcare products such as medical equipment, in vitro diagnostics and life science tools, a whopping 80% of the market […]

Sovereign green bonds: India has latched on to global trend

India’s unique geography, geology together with its vast climatic diversity make it prone to this century’s other ‘pandemic’, climate change. As part of its endeavour to accomplish sustainable development goals, India has made strides towards a low-carbon economy with ambitious targets such as 175 GW of renewable energy capacity by the year 2022. Such targets […]

Assessing India’s readiness for transition to EVs

The Government had earlier announced that by 2030 the sale of electric vehicles (EVs) shall account for 30% of private cars, 70% of commercial vehicles and 80% of two and three-wheelers being sold in India. The objective is to usher the nation in sustainable mobility, decarbonise the transport sector, reduce greenhouse gas emissions, reduce fuel […]

Budget 2022: Seeking harmonisation of income tax laws with insolvency code

The Insolvency and Bankruptcy Code (IBC) has been in force for over 5 years now and has, by and large, been a successful piece of legislation. However, as expected, given that IBC is a relatively new law, there have been teething issues stemming from a lack of synchronisation with other laws such as tax laws. […]

Issues and challenges of group insolvency in India

The Insolvency and Bankruptcy Code, 2016 was envisaged as a complete code governing all matters relating to insolvency, incorporating the best practices across jurisdictions. However, certain concepts were to be introduced in a phased manner, given their complexity. One such concept was group insolvency, evident from the observations made in a 2018 report by the […]

Press Releases

Shardul Amarchand Mangaldas advises MINISO Group Holding Limited

Shardul Amarchand Mangaldas advises MINISO Group Holding Limited in connection with the Dual Primary Listing on the Hong Kong Stock Exchange Shardul Amarchand Mangaldas & Co. advised MINISO Group Holding Limited (”MINISO”) in connection with the Dual Primary Listing and initial public offering of its ordinary shares on the Hong Kong Stock Exchange. The deal […]

29 Jul 2022
Shardul Amarchand Mangaldas & Co. advises Navayuga Group for sale of their stake in Navayuga Quazigund Expressway

Shardul Amarchand Mangaldas & Co. advises Navayuga Group for sale of their stake in Navayuga Quazigund Expressway Private Limited to National Investment and Infrastructure Fund Shardul Amarchand Mangaldas & Co. advised Navayuga Group for sale of their stake in Navayuga Quazigund Expressway Private Limited (“Company”) to National Investment and Infrastructure Fund (“NIIF”). The deal was signed […]

29 Jul 2022
Shardul Amarchand Mangaldas & Co. advises Jindal Saw Limited…

Shardul Amarchand Mangaldas & Co. advises Jindal Saw Limited on a Joint Venture Agreement with Hunting Energy Services Pte. Ltd., Singapore Shardul Amarchand Mangaldas & Co. advised Jindal Saw Limited on its Joint Venture Agreement with Hunting Energy Services Pte Ltd., Singapore (“JV Agreement”). The deal is valued at approx. INR 125,00,00,000. The date of […]

28 Jan 2022
Shardul Amarchand Mangaldas advises Grofers International Pte. Ltd…

Shardul Amarchand Mangaldas advises Grofers International Pte. Ltd, Albinder Singh Dhindsa, and Saurabh Kumar in its Series G round of investment from KTB Asset Management Co. Ltd and KTBN GI Ventures Limited Shardul Amarchand Mangaldas & Co. advised Grofers International Pte. Ltd (“Grofers”), Albinder Singh Dhindsa and Saurabh Kumar in its Series G round of […]

28 Jan 2022
Shardul Amarchand Mangaldas advises Vodafone Idea Business Services Limited…

January 19, 2022 Shardul Amarchand Mangaldas advises Vodafone Idea Business Services Limited in regard to assignment of rights in land to STT Global Data Centres India Private Limited Shardul Amarchand Mangaldas & Co. advised Vodafone Idea Business Services Limited (“Vodafone Idea”). The transaction involved title due diligence of land, ascertainment and advise relating to title […]

28 Jan 2022

Sign In

[login_form] Lost Password