ESTABLISHED IN 2015
Total number of professionals: 1000 (160+ partners)
Principal office: Mumbai
Other offices: Ahmedabad, Bengaluru, Chennai, Delhi – NCR,
GIFT City, Hyderabad and Singapore
Key practice areas
Arbitration & ADR; banking & finance; bankruptcy & insolvency; capital markets; competition & antitrust; data protection; employment; fintech, blockchain & cryptos; funds; governance; inbound & outbound investment; infrastructure & project finance; insolvency; investigation; litigation; mergers & acquisitions; pharma & healthcare; private equity; policy advisory; venture capital & funds; real estate; regulatory; succession planning (family office); taxation.
Our services
Cyril Amarchand Mangaldas (CAM) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, startups, government and regulatory bodies. Our generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations.
Independent intelligence on this law firm
The following information is sourced directly from India Business Law Journal and/or Law.asia and is not part of the directory listing provided by the law firm.
Testimonials
Rajiv Bakshi, legal adviser at Dabur India, describes the firm as “very professional”. He respects CAM’s banking team for providing “good turnaround time and a practical approach to protect clients’ interests”.
Benjamin Parameswaran, the managing partner of DLA Piper in Germany, appreciates the firm’s “consistent quality”, while Siddhanth Sharma, senior legal counsel at Procter & Gamble in Singapore, says CAM is “timely, pragmatic and cost-sensitive”.
Si Xuan Cai, legal director at CDPQ London, speaks emphatically about partner Ravindra Bandhakavi, CAM’s head of private equity. “He is the best lawyer I have worked with in India, and I go so far as to say in Asia,” she says. “Ravindra is the corporate client’s dream external ‘trusted counsel’. He understands the sensitivities of PE investors, sovereign wealth funds and pension funds supremely well. The skill I value the most in him is being able to dissect issues clearly and succinctly to their core … take instructions and get a deal done efficiently and commercially with counterparties.”
One client calls Cyril Amarchand Mangaldas a “stellar firm with a strong reputation” which is “seen around the biggest deals”.
An international client who has used the firm for its corporate, M&A, capital markets and tax expertise, and who did not want to be named, is particularly appreciative. “They take direct, commercial positions and are not afraid to give advice that may be difficult to hear,” he says. The client is all praise for: partner Shishir Vaytadden, describing him as “an excellent strategist, providing complex and clear advice on M&A and corporate matters”; partner Abhinav Kumar, saying his “commerciality and attention to detail have guided me through multiple transactions”; and partner Yash Ashar, who he describes as a welcome addition to any “bet the company” questions on capital markets, adding that Ashar’s “considered advice allows me to take internal decisions confidently”.
“CAM has made an effort to understand our business and any advice provided to us is practical, contextual and succinct,” says Bharat Vansh Bahadur, associate general counsel at InterGlobe Aviation, which uses the services of the labour and employment practice at CAM. Commending Ritika Rathi and Richa Mohanty for their “practical and well thought-through advice”, Bahadur says: “CAM’s timely advice has helped us avert any potential disruptions in our business.”
Purva Chadha, senior counsel at International Finance Corporation, says it “is unmatched by any other firm”. Chadha singles out partner Pranav Sharma, whom she describes as extremely hands on: “He is undoubtedly my go-to person for all my banking and finance work.”
“CAM stands at the very top of the legal profession in India across all areas,” says an international client who did not want to be named. The client went on to describe the firm as “collaborative, but nevertheless strong advocates for their clients’ position”. The client singled out tax partner SR Patnaik for advice that “was timely, concise and clear, which is enormously valuable in the context of a fast-moving, complex transaction”; partner Shishir Vayttaden for “his calm, precise advice [that] gives us a great deal of confidence operating in the Indian business environment”; and partner Abhinav Kumar and associate Bhartendu Singh, for “constant and careful explanation, and strong advice on negotiations and legal requirements”.
Pramo Selvaratnam, president and head of business development and strategic alliances at Aditya Birla Capital, says CAM is “the first name that comes to mind in anything related to capital markets”. Selvaratnam praises partner Yash Ashar in particular for “his balanced and prompt advice”.
Notable Deals
Recognised by India Business Law Journal as Deals of the year
| LIC closes India’s largest IPO | 2022 | US$2.7 billion | Details |
| Macrotech’s largest QIP of the year | 2022 | US$430 million | Details |
| Delhivery delivers second-largest IPO | 2022 | US$ 676 Million | Details |
| Greenko Wind breezes green offshore bond issue | 2022 | US$750 Million | Details |
| CredAvenue fintech canters into unicorn club | 2022 | US$70 million | Details |
| CCI tightens anti-competition net on Google | 2022 | US$113 million | Details |
| World Sport Group wins cricket board test | 2022 | N/A | Details |
| Adani cements Holcim mega M&A | 2022 | US$6.4 billion | Details |
| Mindtree merger creates massive IT server | 2022 | US$3.5 billion | Details |
| Dream Sports lead scorer in cricket NFT platform | 2022 | US$120 million | Details |
| HSBC chomps L&T’s mutual fund business | 2022 | US$425 million | Details |
| JC says ‘yes’ to Yes Bank’s stressed assets | 2022 | US$1.4 billion | Details |
| Liquidation of ABG Shipyard | 2022 | N/A | Details |
| Suzlon refinances existing debt | 2022 | US$513.5 million | Details |
| Jain Irrigation restructures debt | 2022 | US$500 million approximately | Details |
| ReNew’s groundbreaking de-SPAC merger | 2021 | US$8 billion | Details |
| PayTM’s rollercoaster IPO | 2021 | US$2.4 billion | Details |
| Zomato IPO blazes digital trail | 2021 | US$1.25 billion | Details |
| JSW’s USD1bn issue a first for sector | 2021 | US$1 billion | Details |
| Nykaa’s IPO a beauty | 2021 | US$718 million | Details |
| DIAL’s USD450m green bond | 2021 | US$450 million | Details |
| UltraTech’s benchmark sustainability bond | 2021 | US$400 million | Details |
| Macrotech IPO signals property revival | 2021 | US$340 million | Details |
| Award caught LBW in cricket dispute | 2021 | N/A | Details |
| Piramal acquires insolvent Dewan | 2021 | US$4.6 billion | Details |
| Dighi Port resolves insolvency | 2021 | US$97.3 million | Details |
| Tata acquires Air India | 2021 | US$2.4 billion | Details |
| Flipkart’s massive USD3.6bn funding | 2021 | US$3.6 billion | Details |
| Brookfields’ mega real estate deal | 2021 | US$2.1 billion | Details |
| Sumitomo Mitsui’s major acquisition | 2021 | US$2 billion | Details |
| Blackstone buy signals market maturity | 2021 | US$1 billion | Details |
| Blackstone tops warehouse space after purchase | 2021 | US$700 million | Details |
| Pharmeasy’s unicorn round | 2021 | US$350 million | Details |
| EverEnviro buys waste management business | 2021 | US$164.6 million | Details |
| IL&FS offloads China asset, reduces debt | 2021 | US$134.2 million | Details |
| HDFC’s QIP a complex issuance | 2020 | US$2.3 billion | Details |
| Gland Pharma’s complex IPO | 2020 | US$872 million | Details |
| Voluntary delisting of Hexaware Technologies | 2020 | US$600 million | Details |
| Equitas Small Finance Bank’s IPO | 2020 | US$70 million | Details |
| Top auditors under scrutiny in IL&FS crisis ruling | 2020 | N/A | Details |
| Ruling a clarification for arbitrations outside India | 2020 | N/A | Details |
| Yes Bank no easy restructure | 2020 | US$1.5 billion | Details |
| Jet Airways buys and sells during insolvency | 2020 | US$200 million | Details |
| RattanIndia debt settlement sets benchmarks | 2020 | US$889 million | Details |
| Insolvency across jurisdictions for airline | 2020 | N/A | Details |
| Adani takes 75% stake in port | 2020 | US$1.6 billion | Details |
| One97’s series G funding | 2020 | US$1 billion | Details |
| Kedaara’s acquisition conducted in murky waters | 2019 | US$77 million | Details |
| Vodafone Idea’s ₹250 billion rights issue | 2019 | US$3.5 billion | Details |
| Greenko’s US$1bn bond offering | 2019 | US$1 billion | Details |
| Embassy Office Parks REIT initial public offering | 2019 | US$670 million | Details |
| Defence of constitutionality of the IBC | 2019 | N/A | Details |
| Insolvency resolution of Essar Steel | 2019 | US$7 billion | Details |
| UVARCL’s resolution plan in Aircel’s insolvency | 2019 | US$2.87 billion | Details |
| Acquisition of Bhushan Power and Steel by JSW Steel | 2019 | US$2.74 billion | Details |
| Resolution of Ruchi Soya insolvency | 2019 | US$1.7 billion | Details |
| JV of Mahindra & Mahindra and Ford | 2019 | US$275 million | Details |
| Total and Adani Joint Venture | 2019 | N/A | Details |
| Merck sells global health business to P&G | 2019 | US$4.2 billion | Details |
| PFC’s acquisition of REC | 2019 | US$2.11 billion | Details |
| Larsen and Toubro’s acquisition of Mindtree | 2019 | US$1.5 billion | Details |
| Vijaya and Dena banks merge with Bank of Baroda | 2019 | US$1.3 billion | Details |
| ADCB’s sale of Indian banking business to DCB Bank | 2019 | US$67.6 million | Details |
| Launch of Bharat 22 ETF fund by the Government of India | 2018 | US$2 billion | Details |
| Tata Steel’s rights issue | 2018 | US$1.9 billion | Details |
| Bandhan Bank IPO | 2018 | US$672 million | Details |
| Hindustan Aeronautics IPO | 2018 | US$649 million | Details |
| Adani’s purchase of Reliance Infrastructure’s Mumbai power business | 2018 | US$2.6 billion | Details |
| First TOT highway project | 2018 | US$1.5 billion | Details |
| Barclays term loan for IHH investment in Fortis | 2018 | US$65 million | Details |
| State Bank of India qualified institutional placement | 2017 | US$2.3 billion | Details |
| SBI Life Insurance Company IPO | 2017 | US$1.3 billion | Details |
| Foreign currency bonds issue by Adani Ports | 2017 | US$500 million | Details |
| ReNew Power’s green high-yield bond issuance | 2017 | US$475 million | Details |
| Rural Electrification Corp’s green bonds | 2017 | US$450 million | Details |
| Cochin Shipyard IPO | 2017 | US$230 million | Details |
| Indian Energy Exchange IPO | 2017 | US$155 million | Details |
| Merger of Aditya Birla Nuvo with Grasim Industries | 2017 | US$4 billion | Details |
| eBay Singapore’s investment in Flipkart | 2017 | US$1.4 billion | Details |
| Fosun Pharma takes 74% stake in Gland Pharma | 2017 | US$1 billion | Details |
| Investments by Canada Pension Plan Investment Board | 2017 | US$246 million | Details |
| Adhunik Power debt restructuring | 2017 | US$507 million | Details |
| Jawaharlal Nehru Port’s external commercial borrowings | 2016 | US$400 million | Details |
| RIL-SBI payments bank JV | 2016 | N/A | Details |
| ICICI Prudential Life’s IPO | 2016 | US$918 million | Details |
| NTPC’s offer for sale | 2016 | US$742 million | Details |
| Equitas Holdings’ IPO | 2016 | US$329.8 million | Details |
| GMR’s bond issuance to Kuwait Investment Authority | 2016 | US$300 million | Details |
| Varun Beverages’ IPO | 2016 | US$175 million | Details |
| Mahanagar Gas IPO | 2016 | US$160 million | Details |
| Bharat Financial Inclusion’s placement | 2016 | US$113 million | Details |
| PMT-JV’s asset transfer agreement | 2016 | N/A | Details |
| Sale of 98% stake in Essar Oil | 2016 | US$13 billion | Details |
| Hitachi-Johnson Controls joint venture | 2016 | US$2.6 billion | Details |
| RCom’s purchase of Sistema India’s wireless business and sale of wireless operations to Aircel | 2016 | US$730 million + US$800 million | Details |
| Nirma’s purchase of Lafarge India assets | 2016 | US$1.4 billion | Details |
| Yokohama Rubber’s purchase of Alliance Tire | 2016 | US$1.2 billion | Details |
| Greenko’s green bonds and SunEdison asset purchase | 2016 | US$500 million + US$392 million | Details |
| GMR Energy stake sales | 2016 | US$300 million + US$14.9 million | Details |
| Acquisition of GE Capital | 2016 | US$130 million | Details |
| JCB India versus Ministry of Defence | 2016 | N/A | Details |
| Daiichi Sankyo exits Sun Pharma | 2015 | US$3.2 billion | Details |
| Jaguar Land Rover bond offering and Tata Motors global rights issue | 2015 | US$590 million + US$1.2 billion | Details |
| Adani Ports & SEZ’s senior unsecured loans | 2015 | US$650 million | Details |
| Coffee Day’s IPO | 2015 | US$177 million | Details |
| Prabhat Dairy IPO | 2015 | US$54 million | Details |
| Julius Baer acquires private wealth management business in India | 2015 | US$6 billion | Details |
| Birla’s acquisition of LafargeHolcim’s cement units | 2015 | US$766 million | Details |
| Sun Pharma promoter buys stake in Suzlon Energy | 2015 | US$300 million | Details |
| KKR’s investment in JBF Group | 2015 | US$150 million | Details |
| Warburg Pincus and Goldman Sachs buy into PRL Developers | 2015 | US$277 million + US$138 million | Details |
| CPPIB-Shapoorji Pallonji JV acquires Chennai IT park | 2015 | US$220 million | Details |
| Blackstone acquires 247 Park | 2015 | US$177 million | Details |
Contact us
Mumbai
Cyril Shroff (Managing partner)
T: +91 22 2496 4455
E: cyril.shroff@cyrilshroff.com
New Delhi – NCR
Gauri Rasgotra
Partner (Head – Delhi-NCR)
T: +91 120 669 9000
E: cam.delhi@cyrilshroff.com
Bengaluru
Partner (Head – South Offices)
T: +91 80 6792 2000
E: cam.bengaluru@cyrilshroff.com
Website
www.cyrilshroff.com
