S&R Associates
Rankings
Leading firm in Asia-Pacific 2026
Ranked Departments:
Ranked Individuals:
Overview
Provided by S&R Associates
S&R Associates is a full-service Indian law firm with offices in New Delhi and Mumbai.
Our principles: a commitment to the quality of work, dedication to our clients and a professional culture in Indian legal services with international standards.
The Firm has more than 160 lawyers providing legal services to sophisticated international and Indian clients.
International Experience
Many of our senior lawyers have worked with leading international law firms in New York, London and Singapore.
Regulatory Expertise
We have extensive experience in engaging on behalf of our clients with major Indian regulatory authorities on complex issues across sectors.
Inter-disciplinary Approach
Our lawyers from across practice groups work together to solve our clients’ key problems and challenges.
Hands-on Partner Involvement
Drawing from our focus on quality and as a firm with relatively lower leverage, our services are characterized by a high level of partner involvement in all transactions and matters.
- Mergers and Acquisitions
- Capital Markets
- Private Equity and Investment Funds
- Litigation and Arbitration, Regulatory
- Anti-corruption, Fraud and Investigations
- Banking, Finance, Restructuring and Insolvency
- Competition/Antitrust
- Tax
- International Trade
- Corporate Governance and ESG
- Employment
- Data Privacy and Intellectual Property
- InvITs, REITs and Business Trusts
- Real Estate
- Projects, Infrastructure and Energy
- General Corporate
Ranked Offices
Provided by S&R Associates
India - Head office
Delhi
Max House, Tower C, 4th Floor Okhla Industrial Estate Phase III , New Delhi, Delhi, India, 110 020, New Delhi
India
Maharashtra
One Indiabulls Centre, 1403, Tower 2, B Wing, 841, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra, India, 400 013, Mumbai
Ranked Departments
Ranked Individuals
Articles, highlights and press releases
289 items provided by S&R Associates
M&A Transactions and Market Rumors
The M&A market in India is characterized by frequent media leaks with such leaks carrying significant real-world consequences for the parties involved, ranging from disrupted negotiations to accelerated timelines and increased deal premiums. Against this backdrop, this note examines a recent decisio
SEBI introduced a formal framework for accredited investors through amendments to the AIF Regulations on August 3, 2021, the operational contours of which continue to evolve through subsequent regulatory guidance and market practice. This note aims to provide a comprehensive overview of the eligibil
Strategic Land Conversion: Navigating the Shift from Agricultural to Non-Agricultural Use
The process of land acquisition and laws governing use of land has posed significant challenges for prospective buyers in Maharashtra. The Government of Maharashtra has recently notified the Maharashtra Land Revenue Code (Second Amendment) Act, 2025 bringing in significant reforms to the framework g
Essential Checks Before Buying a New Flat in a Redevelopment Project
Given the significant rise in redevelopment activity across Mumbai, this note examines the critical legal, regulatory, and commercial checks that buyers, investors, and financial institutions must undertake before committing to a unit in a redevelopment project. It highlights key considerations unde
A Review of Key Developments in India’s Merger Control Regime: 2024 - 2025
India’s merger control regime has witnessed major developments since late 2024, impacting the process for assessment and notification of combinations under the Competition Act, 2002. This note provides a comprehensive overview of the key updates in India’s merger control laws between 2024 and 2025,
Liberalizing India’s External Commercial Borrowings Framework: Key Changes Under the 2026 Amendments
The Reserve Bank of India (“RBI”) has made significant changes to the external commercial borrowings (“ECB”) regulations through the issuance of the Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026 (“Amended Regulations”) on February 16, 2026, which amend the F
Acquisition Finance by Banks in India
The Reserve Bank of India has introduced amendment directions to the Reserve Bank of India (Commercial Banks - Credit Facilities) Directions, 2025 and the Reserve Bank of India (Commercial Banks - Concentration Risk Management) Directions, 2025 (“Amendment Directions”), to permit banks to extend cre
Maintainability of Post-award Section 9 Applications
On January 21, 2026, a full bench of the Madras High Court passed an order in a case titled BM Insulation answering questions of law raised by a single judge on the maintainability of applications filed post-award under Section 9 of the Arbitration and Conciliation Act, 1996, as amended. The referen
Recent Representation: Citigroup, the broker
S&R Associates represented Citigroup, the broker
Recent Representations: Ascendas IT Park (Pune)
S&R Associates represented Ascendas IT Park (Pune)
Recent Representations: IRB Infrastructure Trust
S&R Associates represented IRB Infrastructure Trust
Foreign Exchange Management (Guarantees) Regulations, 2026: Towards a Principle-based Approach for C
Guarantees are one of the cornerstones of any financing transaction. With India’s credit markets increasingly oriented towards cross border transactions, an overhaul of the two-decade old Foreign Exchange Management (Guarantees) Regulations, 2000 (“2000 Regulations”) was long overdue. In an effort t
Environmental Law: Issue 1 of 2026
Issue 1 of 2026 of our Newsletter on Environmental Law covers key judicial and regulatory developments between the months of July and September 2025. In respect of judicial updates, Issue 1 includes judgements and orders of the Supreme Court, High Courts, and the National Green Tribunal related to i
Investing in the IPL: The Legal Playbook for IPL Franchise Investments
Since its launch in 2008, the Indian Premier League (“IPL”) has grown into one of the world’s most successful sporting competitions. In recent years, franchise valuations have soared, media rights deals have hit record highs, and brand partnerships have expanded across sectors, drawing global invest
Recent Representations: IRB InvIT Fund
S&R Associates represented IRB InvIT Fund
Regulatory Updates: RERA (April to September 2025)
We are pleased to present issue 1 of 2026 of S&R’s RERA Roundup for the period April to September 2025. This publication provides a curated overview of significant legal developments under the Real Estate (Regulation and Development) Act, 2016 (“RERA”), as reflected in recent judgments and passed by
Recent Representation: Aleido Sweden AB
S&R Associates represented Aleido Sweden AB
M&A Opportunities in the Indian Insurance Sector: Insurance Laws Amendment Act, 2025
To expand insurance coverage in the fast-growing Indian market, the Government has introduced several measures, including amendments to insurance laws and related foreign investment rules. This note explores key changes introduced through such amendments, as well as the implications of such liberali
Co-Lending Arrangements: Collaborative Attempts to Bridge the Credit Gap
The Reserve Bank of India has issued an updated regulatory framework for co-lending arrangements between regulated entities (“REs”), which came into effect on January 1, 2026. The revised co-lending framework, which forms part of the Reserve Bank of India (Commercial Banks - Transfer and Distributio
Nuclear Energy Act: Transforming India’s Nuclear Energy Landscape
The Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India Act, 2025 (Nuclear Energy Act) is a landmark legislation designed to modernize and expand India’s nuclear sector. Once notified, it will overhaul the existing legal framework comprising the Atomic Energy Act, 1962 an
Unlocking India’s Inland Water Transport Potential: Analysis of the National Waterways (Construction
Inland water transport (“IWT”) in India holds immense potential as a cost-effective, environmentally friendly alternative for the movement of goods and passengers. With a vast network of approximately 14,500 km of navigable rivers, canals, and backwaters, India’s inland waterways offer a strategic a
SEBI’s 2025 Rights Issue Framework: Unlocking the Potential of Rights Issues
On March 3, 2025, the Securities and Exchange Board of India (the “SEBI”) issued the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2025 (the “2025 Amendments”) which amended the Securities and Exchange Board of India (Issue of Capital
Recent Representation: Vodafone Group
S&R Associates represented Vodafone Group
Recent Representation: CapitaLand India Trust
S&R Associates is representing CapitaLand India Trust
MahaRERA Issues Key Circular on Execution of Deeds of Cancellation
Defaults by allottees in making timely payments continue to pose serious challenges for real estate promoters, often resulting in stalled inventory, disrupted cash flows, and project-level financial stress. While the Real Estate (Regulation and Development) Act, 2016 permits cancellation of allotmen
Recent Representation: Prudential Corporation Holdings Limited
S&R Associates represented Prudential Corporation Holdings Limited
Recent Representation: Prudential Corporation Holdings Limited
S&R Associates represented Prudential Corporation Holdings Limited
Regulatory Compliance Calendars for AIFs in India
Alternative Investment Funds (AIFs) are subject to a multitude of periodic and event-based reporting and other compliance obligations under SEBI’s regulations as well as other applicable Indian law. To help general partners, sponsors, managers and trustees navigate such regulatory obligations, our I
Recent Representation: Peak XV Partners, Redwood Trust and Verlinvest S.A.
S&R Associates represented Peak XV Partners, Redwood Trust and Verlinvest S.A.
Recent Representation: Peak XV Partners, Redwood Trust and Verlinvest S.A.
S&R Associates represented Peak XV Partners, Redwood Trust and Verlinvest S.A.
M&A Transactions and Market Rumors
The M&A market in India is characterized by frequent media leaks with such leaks carrying significant real-world consequences for the parties involved, ranging from disrupted negotiations to accelerated timelines and increased deal premiums. Against this backdrop, this note examines a recent decisio
SEBI introduced a formal framework for accredited investors through amendments to the AIF Regulations on August 3, 2021, the operational contours of which continue to evolve through subsequent regulatory guidance and market practice. This note aims to provide a comprehensive overview of the eligibil
Strategic Land Conversion: Navigating the Shift from Agricultural to Non-Agricultural Use
The process of land acquisition and laws governing use of land has posed significant challenges for prospective buyers in Maharashtra. The Government of Maharashtra has recently notified the Maharashtra Land Revenue Code (Second Amendment) Act, 2025 bringing in significant reforms to the framework g
Essential Checks Before Buying a New Flat in a Redevelopment Project
Given the significant rise in redevelopment activity across Mumbai, this note examines the critical legal, regulatory, and commercial checks that buyers, investors, and financial institutions must undertake before committing to a unit in a redevelopment project. It highlights key considerations unde
A Review of Key Developments in India’s Merger Control Regime: 2024 - 2025
India’s merger control regime has witnessed major developments since late 2024, impacting the process for assessment and notification of combinations under the Competition Act, 2002. This note provides a comprehensive overview of the key updates in India’s merger control laws between 2024 and 2025,
Liberalizing India’s External Commercial Borrowings Framework: Key Changes Under the 2026 Amendments
The Reserve Bank of India (“RBI”) has made significant changes to the external commercial borrowings (“ECB”) regulations through the issuance of the Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026 (“Amended Regulations”) on February 16, 2026, which amend the F
Acquisition Finance by Banks in India
The Reserve Bank of India has introduced amendment directions to the Reserve Bank of India (Commercial Banks - Credit Facilities) Directions, 2025 and the Reserve Bank of India (Commercial Banks - Concentration Risk Management) Directions, 2025 (“Amendment Directions”), to permit banks to extend cre
Maintainability of Post-award Section 9 Applications
On January 21, 2026, a full bench of the Madras High Court passed an order in a case titled BM Insulation answering questions of law raised by a single judge on the maintainability of applications filed post-award under Section 9 of the Arbitration and Conciliation Act, 1996, as amended. The referen
Recent Representation: Citigroup, the broker
S&R Associates represented Citigroup, the broker
Recent Representations: Ascendas IT Park (Pune)
S&R Associates represented Ascendas IT Park (Pune)
Recent Representations: IRB Infrastructure Trust
S&R Associates represented IRB Infrastructure Trust
Foreign Exchange Management (Guarantees) Regulations, 2026: Towards a Principle-based Approach for C
Guarantees are one of the cornerstones of any financing transaction. With India’s credit markets increasingly oriented towards cross border transactions, an overhaul of the two-decade old Foreign Exchange Management (Guarantees) Regulations, 2000 (“2000 Regulations”) was long overdue. In an effort t
Environmental Law: Issue 1 of 2026
Issue 1 of 2026 of our Newsletter on Environmental Law covers key judicial and regulatory developments between the months of July and September 2025. In respect of judicial updates, Issue 1 includes judgements and orders of the Supreme Court, High Courts, and the National Green Tribunal related to i
Investing in the IPL: The Legal Playbook for IPL Franchise Investments
Since its launch in 2008, the Indian Premier League (“IPL”) has grown into one of the world’s most successful sporting competitions. In recent years, franchise valuations have soared, media rights deals have hit record highs, and brand partnerships have expanded across sectors, drawing global invest
Recent Representations: IRB InvIT Fund
S&R Associates represented IRB InvIT Fund
Regulatory Updates: RERA (April to September 2025)
We are pleased to present issue 1 of 2026 of S&R’s RERA Roundup for the period April to September 2025. This publication provides a curated overview of significant legal developments under the Real Estate (Regulation and Development) Act, 2016 (“RERA”), as reflected in recent judgments and passed by
Recent Representation: Aleido Sweden AB
S&R Associates represented Aleido Sweden AB
M&A Opportunities in the Indian Insurance Sector: Insurance Laws Amendment Act, 2025
To expand insurance coverage in the fast-growing Indian market, the Government has introduced several measures, including amendments to insurance laws and related foreign investment rules. This note explores key changes introduced through such amendments, as well as the implications of such liberali
Co-Lending Arrangements: Collaborative Attempts to Bridge the Credit Gap
The Reserve Bank of India has issued an updated regulatory framework for co-lending arrangements between regulated entities (“REs”), which came into effect on January 1, 2026. The revised co-lending framework, which forms part of the Reserve Bank of India (Commercial Banks - Transfer and Distributio
Nuclear Energy Act: Transforming India’s Nuclear Energy Landscape
The Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India Act, 2025 (Nuclear Energy Act) is a landmark legislation designed to modernize and expand India’s nuclear sector. Once notified, it will overhaul the existing legal framework comprising the Atomic Energy Act, 1962 an
Unlocking India’s Inland Water Transport Potential: Analysis of the National Waterways (Construction
Inland water transport (“IWT”) in India holds immense potential as a cost-effective, environmentally friendly alternative for the movement of goods and passengers. With a vast network of approximately 14,500 km of navigable rivers, canals, and backwaters, India’s inland waterways offer a strategic a
SEBI’s 2025 Rights Issue Framework: Unlocking the Potential of Rights Issues
On March 3, 2025, the Securities and Exchange Board of India (the “SEBI”) issued the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) (Amendment) Regulations, 2025 (the “2025 Amendments”) which amended the Securities and Exchange Board of India (Issue of Capital
Recent Representation: Vodafone Group
S&R Associates represented Vodafone Group
Recent Representation: CapitaLand India Trust
S&R Associates is representing CapitaLand India Trust
MahaRERA Issues Key Circular on Execution of Deeds of Cancellation
Defaults by allottees in making timely payments continue to pose serious challenges for real estate promoters, often resulting in stalled inventory, disrupted cash flows, and project-level financial stress. While the Real Estate (Regulation and Development) Act, 2016 permits cancellation of allotmen
Recent Representation: Prudential Corporation Holdings Limited
S&R Associates represented Prudential Corporation Holdings Limited
Recent Representation: Prudential Corporation Holdings Limited
S&R Associates represented Prudential Corporation Holdings Limited
Regulatory Compliance Calendars for AIFs in India
Alternative Investment Funds (AIFs) are subject to a multitude of periodic and event-based reporting and other compliance obligations under SEBI’s regulations as well as other applicable Indian law. To help general partners, sponsors, managers and trustees navigate such regulatory obligations, our I
Recent Representation: Peak XV Partners, Redwood Trust and Verlinvest S.A.
S&R Associates represented Peak XV Partners, Redwood Trust and Verlinvest S.A.
Recent Representation: Peak XV Partners, Redwood Trust and Verlinvest S.A.
S&R Associates represented Peak XV Partners, Redwood Trust and Verlinvest S.A.