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

Trilegal has one of the “top banking practices in the country”, says a peer. The firm continues its development as a preferred firm for international clients, with its ‘best friend’ relationship with Allen & Overy an important asset to its growing profile. Clients appreciate the firm’s international network and ability. “The cross border work we have with the firm has been seamless in transition between international counsel of Allen & Overy and the domestic partners,” says one. “It’s not just lending a brand name to the local firm; there is genuine international expertise here, which has been impressive.” A recent deal for the firm was its representation of an Axis Bank led consortium in the rupee financing of a special purpose vehicle of Reliance Infrastructure for the Mumbai Metro rail project. This matter was completed in March 2011 and was valued at US$1.56 billion. Clients recommend star partner Akshay Jaitly, with one saying: “His manner is mature and measured, and he is very sharp. He brings a lot of value to the table. It is difficult to find lawyers who can work effectively in the private and public space, but he understands both perspectives. He is able to deal with both kinds of clients in an equally effective manner.”

Trilegal retains its position in the rankings this year. The firm is regarded as an expert on cross border transactions, while one client had praise for partner Sridhar Gorthi. “He is one of the finest and most balanced partners I’ve worked with,” says the client. “He’s very sharp, professional, and calm during negotiations. He’s essentially a deal closer.” The firm represented Thomson Reuters on its high profile acquisition of legal process outsourcing provider Pangea3. The work involved a range of multijurisdictional issues including advise on withholding tax matters relating to a recent judgment in India. Gorthi led on this transaction, which was valued at US$35 million and completed in November 2010.

“The lawyers at Trilegal are an experienced and well oiled group. For energy and natural resources work, they know the sectors. This is the case whether working on waste management or ports, and they who know how to manage the bid process and be globally competitive,” says a client. Key partner Akshay Jaitly has garnered universal praise from peers and clients, with a client saying: “He understands the perspectives of both negotiating sides as well as regulatory concerns. He’s nothing but excellent.” The firm acted for Caparo Energy in an agreement with Gamesa Wind Turbines for the supply and commissioning of wind turbines. This transaction was valued at US$2 billion. It stood out for its departure from standard engineering, procurement and construction (EPC) turnkey models and its structuring of risk and responsibilities between parties for operation and maintenance.

Trilegal has developed its reputation as a one stop shop in recent years, and its IT, Telco and Media practice has garnered substantial praise and support from the market. The firm provides advice to clients such as Cisco Systems, Telenor and British Telecom India. It participated in the drafting of the Unique Identification Authority Bill, 2010, which is part of the country’s drive to address outstanding problems such as non transparent elections and widespread corruption. Partner Rahul Matthan led the team in this matter.