Amarchand & Mangaldas & Suresh A Shroff & Co continues its reign at the top of the rankings this year. "The firm is a notch above everyone else, there really isn't a firm that has the same level of quality or bandwidth," says one client....
[more]
Amarchand & Mangaldas & Suresh A Shroff & Co continues its reign at the top of the rankings this year. "The firm 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 advised Hindalco Industries in the financing of the development, design, procurement, ownership, construction, commissioning, operation and maintenance of the client's unit, the Mahan Aluminium Project in Madhya Pradesh. Led by partner Amey Pathak, the transaction involved a balance sheet financing of a green field project incorporated a complicated ring financing structuring of obligations all the while implementing the traditional principles of corporate and project financing. The deal was completed in March 2011 and valued at Re105 billion ($2.37 billion).
A client singles key partner Cyril Shroff out for praise: "We work with Cyril himself a lot. He is a very talented lawyer, and in conversation it's clear that we are talking to one of the best counsel available in country. We rely on a lot of strategic advice from him." Another client also recommends Shroff: "His key strengths include his network, insights and ability to consider innovative options to develop a solution to novel issues."
A notable transaction for the firm was its advising of a group of 34 Indian banks, acting as the security trustee, in the restructuring of the entire rupee debt and certain foreign currency loans of JSL Stainless. The loans were granted by the clients by way of the corporate debt restructuring mechanism established by the Reserve Bank of India. The transaction was closed in October 2010 and valued at $1.86 billion.
Clients appreciate the business acumen of the firm: "The lawyers at the firm are very balanced in their views, and it's clear that they know market practice and are determined to keep common practice alive. They do a really good job, and explain to clients why things are needed."
[hide]
"Amarchand & Mangaldas & Suresh A Shroff & Co stands out as number one in the country," a client says. The firm remains in the top rank this year....
[more]
"Amarchand & Mangaldas & Suresh A Shroff & Co stands out as number one in the country," a client says. The firm remains in the top rank this year. Peers and competitors admit that the firm is consistently the firm to beat. A market observer notes: "The partners at the firm are remarkable and each have their respective focuses. As a practitioner, you can't beat working at the firm for opportunities, which builds up a vast pool of experience."
The firm advised JSW Steel on an acquisition of 45.53% of the equity of the debt-ridden Ispat Industries by way of a preferential allotment. The acquisition infused funds into Ispat Industries to revive its operations, implement its integration projects and meet its financial obligations to its lenders. The transaction was valued at $787 million and closed in December 2010.
One client says: "I would give the firm three thumbs up. The firm has provided excellent advice and has always been responsive to my requests for information or instructions." Possessing the largest complement of lawyers certainly does not harm the firm's ability to diversify its expertise and provide targeted advice to niche clients. A corporate client says: "I know which partner to ask for my specific needs. They're top notch for each of their specialties."
A notable matter was the firm's advising of Warburg Pincus in its investment into Continental Warehousing. This transaction required a combination of investments and restructuring of subsidiaries. The matter was completed in April 2011 and valued at $100 million.
[hide]