S&R Associates
Asia-Pacific Guide 2025
About
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 150 lawyers providing legal services to sophisticated international and Indian clients.
Strengths
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.
Main Areas of Practice
- Mergers and Acquisitions
- Capital Markets
- Private Equity
- Investment Funds
- Litigation and Arbitration
- Anti-corruption, Fraud and Investigations
- Banking, Finance, Restructuring and Insolvency
- Corporate Governance and ESG
- Competition/Antitrust
- Real Estate
- Tax
- Employment
- Regulatory
- General Corporate
- Data Privacy and Intellectual Property
- Private Clients
Ranked Offices
Provided by S&R Associates
- New DelhiMax House, Tower C, 4th Floor Okhla Industrial Estate Phase III , New Delhi, Delhi, India, 110 020
- Web: www.snrlaw.in
- Tel: +91 11 4069 8000
- Fax: +91 11 5289 8001
- MumbaiOne Indiabulls Centre, 1403, Tower 2, B Wing, 841, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra, India, 400 013
S&R Associates rankings
Articles, highlights and press releases
219 items provided by S&R Associates
Financing M&A Transactions in India: An Overview
India has witnessed a sustained increase in domestic and cross-border mergers and acquisitions (“M&A”) transactions over the past few years. Despite global M&A activity being subdued this year, M&A deal volumes in India during the first half of 2025 saw an 18% increase in comparison with the first h
Recent Representation: Iron Mountain
S&R Associates represented Iron Mountain
Use of Land for Clean Energy Projects in India
India’s ambitious climate and clean energy targets are redefining the investment landscape for renewables and electric vehicles. As international and domestic players intensify their focus on these sectors, one of the most critical determinants of project viability is land. While dedicated renewable
India’s Export Outlook in Light of U.S. Tariffs
The recent announcement by U.S. President Trump regarding a 25% tariff on Indian exports, along with additional penalties linked to India’s continued defence and energy transactions with Russia, has introduced significant uncertainty into bilateral trade relations. The executive order formalizing ad
Regulatory Updates: Environmental Law (April to June 2025)
Issue 2 of 2025 of our Quarterly Newsletter on Environmental Law covers key judicial and regulatory developments between the months of April and June 2025. In respect of judicial updates, Issue 2 includes judgements and orders of the Supreme Court, High Courts and the National Green Tribunal related
Regulatory Updates: RERA (January to March 2025)
We are pleased to present the second issue of S&R’s Quarterly RERA Roundup for the period January to March 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
Recent Representation: IHH Healthcare Berhad
S&R Associates represented IHH Healthcare Berhad
Recent Representation: the Book Running Lead Managers
S&R Associates represented Kotak Mahindra, SBI Capital Markets, ICICI Securities, Morgan Stanley, HSBC and Citigroup, book running lead managers
[S&R Data+] A Guide to Designing Consent Management Systems under the DPDP Act
The Business Requirement Document (“BRD”) for consent management released by the Ministry of Electronics and Information Technology (MeitY) on June 6, 2025, provides a technical blueprint for organizations to design and implement a consent management system (“CMS”) in compliance with the Digital Per
Amendments to the SEBI (Prohibition of Insider Trading) Regulations, 2015: Widening the Scope of “Un
With effect from June 10, 2025, the Securities and Exchange Board of India (“SEBI”) has introduced certain amendments to the definition of unpublished price sensitive information (“UPSI”) under the SEBI (Prohibition of Insider Trading) Regulations, 2015, (“PIT Regulations”). The amendments aim to al
The Supreme Court of India in its recent judgement in Vijaya Bank and Ors. v. Prashant B. Narnaware considered the legal standing of employment bonds in India. This note analyzes the Court’s affirmation of a differential approach in respect of restrictions effective during employment and those post-
Recent Representation: Veritas Capital
S&R Associates represented Veritas Capital
Recent Representation: Sambhv Steel Tubes Limited
S&R Associates represented Sambhv Steel Tubes Limited
Evaluating the Operational Framework for ESG Debt Securities
The Securities and Exchange Board of India (“SEBI”), in December 2024, amended the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 to introduce a new asset class of ‘ESG debt securities’ that includes green debt securities, social bonds, sus
Recent Representation: the Book Running Lead Managers
S&R Associates represented JM Financial, BNP Paribas, BofA Securities, Goldman Sachs, HSBC, IIFL Capital, Jefferies, Morgan Stanley, Motilal Oswal, Nomura, Nuvama and UBS, book running lead managers
Supreme Court Reaffirms Enforceability of Forum Selection in Employment Contracts
The Supreme Court of India recently reaffirmed the enforceability of exclusive jurisdiction clauses in employment contracts. In Rakesh Kumar Verma v. HDFC Bank Ltd. the Court held that where multiple courts may have territorial jurisdiction under Section 20 of the Code of Civil Procedure, 1908, part
Recent Representation: MakeMyTrip Limited
S&R Associates represented MakeMyTrip Limited
New Opportunities in India’s Defence Sector
Recent geopolitical dynamics, regional conflicts and related national security concerns have made the Indian defence sector ripe for additional growth and investment. As technologies evolve and new forms of warfare emerge, this growing sector is likely to witness further transformation. India’s prop
Recent Representation: Oswal Pumps Limited
S&R Associates represented Oswal Pumps Limited
Recent Representation: Grasim Industries Limited
S&R Associates represented Grasim Industries Limited
Electricity Consumers’ rights in relation to Energy Storage Systems under Draft Amendments to the El
On June 11, 2025, the Ministry of Power has issued draft amendments (“Draft Amendments”) to the Electricity Rules, 2005 (“Rules”) under which changes to Rule 18 of the Rules relating to energy storage systems (“ESSs”) are sought to be made. Under the current form of the Rules, an ESS may be owned de
Recent Representation: Hitachi Payment Services
S&R Associates represented Hitachi Payment Services
Recent Representation: Mehru Electricals and Mechanical Engineers
S&R Associates represented Mehru Electricals and Mechanical Engineers
Take-Privates in India: Time to Revisit the Rules
S&R Associates and Houlihan Lokey are pleased to present their co-authored white paper, Take-Privates in India: Time to Revisit the Rules. 2024 saw a resurgence of take-private M&A transactions globally, with 89 take-private transactions in North America and Europe valued at an aggregate of ~USD 150
Recent Representation: SENKO Group Holdings Co., Ltd.
S&R Associates represented SENKO Group Holdings Co., Ltd.
S&R Associates Announces New Counsel and Principal Associates
S&R Associates Announces New Counsel and Principal Associates
A Deep Dive into the Draft Guidelines for Virtual Power Purchase Agreements
On May 22, 2025, India’s Central Electricity Regulatory Commission released draft guidelines for virtual power purchase agreements (“VPPAs”), further to an opinion from the Securities and Exchange Board of India on regulatory jurisdiction. Unlike a ‘physical’ power purchase agreement, which involves
Recent Representation: Bertelsmann India Investments
S&R Associates represented Bertelsmann India Investments
RBI Eases Investments by FPIs in Corporate Debt Securities
The Reserve Bank of India recently issued a circular on Investments by Foreign Portfolio Investors in Corporate Debt Securities through the General Route (“RBI Circular”) on May 08, 2025, to withdraw short term investment limits and concentration limits, applicable on investments by FPI in corporate
Regulatory Initiatives on ESG Disclosure Requirements in India
Regulatory initiatives to build the legal frameworks around environmental, social, and governance (“ESG”) disclosures in India, while still nascent, are not of recent origin. Various regulators have gradually introduced requirements aimed at enhancing transparency and fostering corporate responsibil
Financing M&A Transactions in India: An Overview
India has witnessed a sustained increase in domestic and cross-border mergers and acquisitions (“M&A”) transactions over the past few years. Despite global M&A activity being subdued this year, M&A deal volumes in India during the first half of 2025 saw an 18% increase in comparison with the first h
Recent Representation: Iron Mountain
S&R Associates represented Iron Mountain
Use of Land for Clean Energy Projects in India
India’s ambitious climate and clean energy targets are redefining the investment landscape for renewables and electric vehicles. As international and domestic players intensify their focus on these sectors, one of the most critical determinants of project viability is land. While dedicated renewable
India’s Export Outlook in Light of U.S. Tariffs
The recent announcement by U.S. President Trump regarding a 25% tariff on Indian exports, along with additional penalties linked to India’s continued defence and energy transactions with Russia, has introduced significant uncertainty into bilateral trade relations. The executive order formalizing ad
Regulatory Updates: Environmental Law (April to June 2025)
Issue 2 of 2025 of our Quarterly Newsletter on Environmental Law covers key judicial and regulatory developments between the months of April and June 2025. In respect of judicial updates, Issue 2 includes judgements and orders of the Supreme Court, High Courts and the National Green Tribunal related
Regulatory Updates: RERA (January to March 2025)
We are pleased to present the second issue of S&R’s Quarterly RERA Roundup for the period January to March 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
Recent Representation: IHH Healthcare Berhad
S&R Associates represented IHH Healthcare Berhad
Recent Representation: the Book Running Lead Managers
S&R Associates represented Kotak Mahindra, SBI Capital Markets, ICICI Securities, Morgan Stanley, HSBC and Citigroup, book running lead managers
[S&R Data+] A Guide to Designing Consent Management Systems under the DPDP Act
The Business Requirement Document (“BRD”) for consent management released by the Ministry of Electronics and Information Technology (MeitY) on June 6, 2025, provides a technical blueprint for organizations to design and implement a consent management system (“CMS”) in compliance with the Digital Per
Amendments to the SEBI (Prohibition of Insider Trading) Regulations, 2015: Widening the Scope of “Un
With effect from June 10, 2025, the Securities and Exchange Board of India (“SEBI”) has introduced certain amendments to the definition of unpublished price sensitive information (“UPSI”) under the SEBI (Prohibition of Insider Trading) Regulations, 2015, (“PIT Regulations”). The amendments aim to al
The Supreme Court of India in its recent judgement in Vijaya Bank and Ors. v. Prashant B. Narnaware considered the legal standing of employment bonds in India. This note analyzes the Court’s affirmation of a differential approach in respect of restrictions effective during employment and those post-
Recent Representation: Veritas Capital
S&R Associates represented Veritas Capital
Recent Representation: Sambhv Steel Tubes Limited
S&R Associates represented Sambhv Steel Tubes Limited
Evaluating the Operational Framework for ESG Debt Securities
The Securities and Exchange Board of India (“SEBI”), in December 2024, amended the Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021 to introduce a new asset class of ‘ESG debt securities’ that includes green debt securities, social bonds, sus
Recent Representation: the Book Running Lead Managers
S&R Associates represented JM Financial, BNP Paribas, BofA Securities, Goldman Sachs, HSBC, IIFL Capital, Jefferies, Morgan Stanley, Motilal Oswal, Nomura, Nuvama and UBS, book running lead managers
Supreme Court Reaffirms Enforceability of Forum Selection in Employment Contracts
The Supreme Court of India recently reaffirmed the enforceability of exclusive jurisdiction clauses in employment contracts. In Rakesh Kumar Verma v. HDFC Bank Ltd. the Court held that where multiple courts may have territorial jurisdiction under Section 20 of the Code of Civil Procedure, 1908, part
Recent Representation: MakeMyTrip Limited
S&R Associates represented MakeMyTrip Limited
New Opportunities in India’s Defence Sector
Recent geopolitical dynamics, regional conflicts and related national security concerns have made the Indian defence sector ripe for additional growth and investment. As technologies evolve and new forms of warfare emerge, this growing sector is likely to witness further transformation. India’s prop
Recent Representation: Oswal Pumps Limited
S&R Associates represented Oswal Pumps Limited
Recent Representation: Grasim Industries Limited
S&R Associates represented Grasim Industries Limited
Electricity Consumers’ rights in relation to Energy Storage Systems under Draft Amendments to the El
On June 11, 2025, the Ministry of Power has issued draft amendments (“Draft Amendments”) to the Electricity Rules, 2005 (“Rules”) under which changes to Rule 18 of the Rules relating to energy storage systems (“ESSs”) are sought to be made. Under the current form of the Rules, an ESS may be owned de
Recent Representation: Hitachi Payment Services
S&R Associates represented Hitachi Payment Services
Recent Representation: Mehru Electricals and Mechanical Engineers
S&R Associates represented Mehru Electricals and Mechanical Engineers
Take-Privates in India: Time to Revisit the Rules
S&R Associates and Houlihan Lokey are pleased to present their co-authored white paper, Take-Privates in India: Time to Revisit the Rules. 2024 saw a resurgence of take-private M&A transactions globally, with 89 take-private transactions in North America and Europe valued at an aggregate of ~USD 150
Recent Representation: SENKO Group Holdings Co., Ltd.
S&R Associates represented SENKO Group Holdings Co., Ltd.
S&R Associates Announces New Counsel and Principal Associates
S&R Associates Announces New Counsel and Principal Associates
A Deep Dive into the Draft Guidelines for Virtual Power Purchase Agreements
On May 22, 2025, India’s Central Electricity Regulatory Commission released draft guidelines for virtual power purchase agreements (“VPPAs”), further to an opinion from the Securities and Exchange Board of India on regulatory jurisdiction. Unlike a ‘physical’ power purchase agreement, which involves
Recent Representation: Bertelsmann India Investments
S&R Associates represented Bertelsmann India Investments
RBI Eases Investments by FPIs in Corporate Debt Securities
The Reserve Bank of India recently issued a circular on Investments by Foreign Portfolio Investors in Corporate Debt Securities through the General Route (“RBI Circular”) on May 08, 2025, to withdraw short term investment limits and concentration limits, applicable on investments by FPI in corporate
Regulatory Initiatives on ESG Disclosure Requirements in India
Regulatory initiatives to build the legal frameworks around environmental, social, and governance (“ESG”) disclosures in India, while still nascent, are not of recent origin. Various regulators have gradually introduced requirements aimed at enhancing transparency and fostering corporate responsibil