Asialaw Profiles
The Guide to the legal markets of the Asia-Pacific

“Amarchand & Mangaldas & Suresh A Shroff & Co is a notch above everyone else. There really isn’t a firm that has the same level of quality or bandwidth,” says one client. The firm retains its top position in the rankings this year, with peers and clients effusive in their praise for the firm. Clients applaud the business perspective espoused by the firm. “The lawyers at the firm are very balanced in their outlook, and it’s clear that they know market practice and are determined to keep common practice alive,” says one. “They do a really good job, and explain to clients why things are needed.” A notable deal last year was the firm’s work for Hindalco Industries in the financing of the client’s unit, the Mahan Aluminium Project in Madhya Pradesh. This INR105 billion (US$2.37 billion) valued transaction was headed by partner Amey Pathak and was completed in March 2011. Partner Cyril Shroff is a standout performer, with one client saying: “He is a very talented lawyer, and in conversation it’s clear that we are talking to one of the best counsel available in the country. We rely on a lot of strategic advice from him.”

Amarchand & Mangaldas & Suresh A Shroff & Co consolidates its position at the top of the rankings this year. A peer notes: “The partners at the firm are remarkable and each have their respective areas of focus. As a practitioner, you can’t beat working at the firm for opportunities, which builds up a vast pool of experience.” One client adds: “I would give the firm three thumbs up. It has provided excellent advice and has always been responsive to my requests for information or instructions.” The firm acted for JSW Steel on its acquisition of 45.53% of the equity of debt ridden Ispat Industries by way of a preferential allotment. The transaction was valued at US$787 million and closed in December 2010. A corporate client says: “I know which partner to ask for my specific needs. The firm is top notch for each of its specialties.”

“Amarchand & Mangaldas & Suresh A Shroff & Co is heavily involved in construction and real estate work, and is on most of the big deals,” says a competitor. The firm is an ever-present in India, and has established a formidable reputation in construction and real estate matters. A team led by partner Jatin Aneja advised the Airports Authority of India and the Karnataka government in the bid process and tender documents for the development of an airport at Bellary. This transaction was completed in August 2010 and valued at US$50 million. One client says: “The firm has such a deep pool of talent, and will only get better.”

“Amarchand & Mangaldas & Suresh A Shroff & Co is the top firm in the country, and its dispute resolution practice is accordingly top notch quality as well,” says a peer. Clients also recommend the firm’s ability in this area, with partner Pallavi Shroff singled out as a “highly qualified and experienced litigator who is always involved in the top cases”. The firm represented Dharampal Satyapal Group on several matters this year. One involved a dispute regarding exemption of payment of central excise duty in relation to pan masala and tobacco products. The appeal has been filed already, with INR6 billion at stake. Another case was a dispute relating to a report by the Central Empowered Committee recommending the complete ban of sandalwood products. With the trade of all sandalwood products at stake, this matter is pending final disposal before the Supreme Court.

“No firm can compare to Amarchand & Mangaldas & Suresh A Shroff & Co at the moment. The firm has such clout in the market,” says a market observer. Armed with decades of experience from both the client side and the regulatory side, the firm sits at the pinnacle of the rankings this year. One client says: “I’ve worked with the firm for many years, and its advice has always been excellent.” The firm advised Hindalco Industries in the financing and development of its Mahan Aluminium Project. The transaction was completed in March 2011 with the project valued at US$2.29 billion. A peer says: “The firm is technically superb and we have used it for years. I see it being top class for a long time.”

Amarchand & Mangaldas & Suresh A Shroff & Co is regarded as “the firm to beat” by competitors. The IT, Telco & Media practice at the firm is praised by clients, with the firm’s reputation for providing “exemplary end-to-end service” a consistent reason for clients’ continued support. A team consisting of Amit Kumar, Saurav Kumar and Ambarish acted for Astro All Asia Networks in a transaction involving a joint venture with chef Sanjeev Kapoor. This was called Trumeric Vision and was for the purposes of setting up a 24 hour food channel. This matter was completed in January 2011 and valued at US$27 million. The firm advises other notable clients such as the RTL Group, Bertlesmann and South Asia Entertainment Holdings.

The tax practice at Amarchand & Mangaldas & Suresh A Shroff & Co welcomed new partner DD Nageswar Rao to its Delhi office in September 2010. Key partner Aseem Chawla is highly praised by peers and clients, with a competitor recommending Chawla for his “great technical expertise and leadership”.

The firm advises Hutchison Telecommunications in the continuing case regarding Vodafone’s US$11.1 billion buyout of the client’s direct majority holding in Hutchison Essar.