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

“J Sagar Associates is among the top firms in the country,” says one competitor. The firm secures its position at the top of the rankings again this year. A client says: “The lawyers there have outstanding expertise and experience.” Partner Somasekhar Sundaresan is highly respected by practitioners in the country for his “excellent ability in all matters relating to securities law”. The firm advised a Morgan Stanley led consortium in its high profile US$425 million investment in Indian power company Asian Genco for developing a 4,000 MW portfolio. This portfolio is expected to cost US$4.5 billion and include hydro, thermal and alternative energy sources. The firm advised on Indian law issues alongside a group of international law firms.

J Sagar Associates is highly regarded for its expertise in corporate matters. The firm is a top tier outfit, says one client. “The firm is highly professional, diligent and reliable. I don’t think it’s possible to hire lawyers like the ones there anywhere else. The team has a very good mix of people who work hard and people who have international experience, which makes it very unique.” The firm acted for Temasek Capital of Singapore in a private equity investment of US$200 Million in GMR Energy. Clients enjoy the firm for its comparative strength. “We work with all the law firms,” says one. “But I would recommend this firm because its partners are quite iconic. Some of the individuals there are like brands. I’d recommend them because of that, even without taking into account technical ability.”

“J Sagar Associates is the most balanced and all rounded firm in the country,” says a competitor. The firm has established strongholds through its many offices, and its real estate work stretches across the country. A client says: “I would work with the firm to get a pan-Indian experience and seamless delivery.” Notable transactions in the last year include: advising HDFC’s real estate funds in a US$107 million investment in the construction of one of Mumbai’s largest residential projects; drafting a development agreement for Reliance Infrastructure in the construction of a 100-storey tower and business district, valued at US$1.9 billion.

J Sagar Associates possesses a “versatile and diverse range of expertise”, says peers. The dispute resolution practice at the firm has been the subject of much praise from the market, with one client noting: “The dispute resolution lawyers are absolutely great.” One high profile matter in the last year was the firm’s representation of Subhkam Ventures before the Securities Appellate Tribunal. This was a matter with far reaching implications as it involved the interpretation of takeover regulations relating to the issue of positive and negative control and conventional protective rights in listed companies.

“J Sagar Associates espouses the greatest values and quality in the legal market in the country,” says a peer. The firm allies a solid banking practice with a diverse corporate practice, with one client noting that its “wide range of expertise in legal matters in India is a strong driver for its continued success”. The firm advised BHP Billiton Petroleum on issues relating to its petroleum sharing contracts in India. A high profile transaction for the firm in the past year was its representation of a Morgan Stanley led consortium on its US$425 million investment into Asian Genco’s 4000 MW portfolio.

“J Sagar Associates has a balanced and pan India presence. The lawyers there are all very good,” says a peer. The IT, Telco & Media practice at the firm is also lauded by clients, with one noting: “The lawyers at the firm provide advice that is dependable and pragmatic. They have a realistic view and interpret statutes on a consistent basis.” The firm advised Accenture Services on regulatory matters for the registration of service providers, as well as other telecom issues including: infrastructure sharing, telecom resources from service providers, and cryptography. Other esteemed clients include Aircel, Boeing, RaySat and ZTE Telecom.

“J Sagar Associates provides reliable, speedy and consistent advice on tax matters after blending considerable research and practical experience and knowledge in that area,” says a client. The tax practice at the firm is led by partner Ashok Dhingra, who is highly regarded by clients. “He is an exemplary legal professional who is approachable and gets involved in the work at hand,” says one. “He gets into details of transactions and deals prior to offering advice that is practical and beneficial to the client.”

A notable tax matter for the firm was its representation of Michelin India Tyres to appeal before the Customs, Excise and Service Tax Appellate Tribunal (Cestat) against a levy of ADD on radial bus and truck tyres.