Billion dollar deals

There has been much economic activity in the few months since the Narendra Modi government came to power at the center and Indian law firms are benefitting mainly from mergers and acquisitions (M&A). Among the top five firms mentioned by The Economic Times (ET) in its report of July 17, 2014 are AZB and Partners of which Zia Modi is the senior partner (in second place) and J. Sagar Associates where solicitor Berjis Desai is managing partner (in fifth place).

M&A deals worth USD 17 billion (Rs 1,03,700 crores) were sealed in the six months prior to June this year in anticipation of economic recovery, revealed ET. "The deals witnessed are mostly strategic investments in nature with intention to acquire assets in growth markets like India and specially in telecommunications, health care and, from a private equity perspective, in real estate, construction and property development,” said Cyril Shroff, managing partner of India’s biggest law firm Amarchand and Mangaldas and Suresh A. Shroff and Company which led in volume and value, advising on 20 transactions worth US $ 8.35 billion (Rs 51,240 crores). Their firm topped the list, while AZB and Partners came next with 17 deals worth in aggregate US $ 2.69 billion (Rs 16,409 crores), ET noted.