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

Nishith Desai Associates has maintained a steady banking and finance practice over the years, and retains its position in the rankings. One client says: “The firm is extremely responsive and very knowledgeable. The lawyers there give accurate and appropriate advice and do so in a timely fashion.” The firm advised SKIL Ports & Logistics in its listing on London’s Aim market. This transaction was completed in January 2011 and valued at £76 million (US$124.5 million). Clients praise the firm for its international perspective. “The firm has branch offices abroad,” says one. “It may not be the final authority in these countries because the lawyers are not licensed to practice in these countries, but they are certainly well aware of regulations and deal structures and frameworks. This helps tremendously.”

Nishith Desai Associates bolsters its reputation in the market this year with peers and clients recommending the firm for its corporate work, particularly in the area of private equity. One client says: “The firm has some very senior team members who are hands-on on every matter. They are repositories of legal information in the country.” The firm represented Dewan Housing Finance on its acquisition of Deutsche Postbank Home Finance. This transaction was valued at US$240 million and completed in January 2011. One client notes: “No other firm keeps us up to date like this firm does. When it comes to communication, it sets the absolute standard for other firms.”

“Nishith Desai Associates is top of the market for IT, Telco & Media work. The firm has set the standard for the rest of us to follow,” says one competitor. The firm consolidates its position in the top tier this year, with clients tireless in their praise and support for the firm’s prowess. One client says: “The firm has maintained a compact practice that goes above and beyond for its clients. The lawyers always reply in a timely fashion.” The firm advised Reliance Broadcast Network in its deal with CBS Studios International to operate English, Hindi and regional television channels. This matter was completed in August 2010 and was valued at US$100 million.

“Nishith Desai Associates is definitely a leading tax firm in the country,” says a peer. Market observers and clients praise the firm for its consistency in the area of tax. Its well rounded tax practice, with particular expertise in international tax advisory matters, is well regarded by competitors as “a cut above the rest” and “visionary”. Apart from acting as special counsel to Vodafone in its tax case regarding its buyout of Hutchison’s holdings in Hutchison Essar, the firm provides advisory services to companies such as Standard Chartered Bank, Providence Equity Partners, Marriott International and HSBC. A notable case in the past year is its continuing representation of General Atlantic Partners before the Income Tax Appellate Tribunal regarding a high pitched transfer pricing assessment.