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
253 items provided by S&R Associates
Regulatory Updates: Clean Energy (April to September 2025)
Issue 3 of 2025 of our Roundup Series on Clean Energy covers the six-month period between April and September 2025. This Issue tracks regulatory and other key developments at both Central and State levels in the covered period with respect to solar and wind energy generation, green hydrogen and gree
Recent Representation: Embassy Office Parks REIT
S&R Associates is representing Embassy Office Parks REIT,
Recent Representation: Hillhouse Investment
S&R Associates represented Hillhouse Investment
Recent Representation: Maple Infrastructure Trust
S&R Associates represented Maple Infrastructure Trust
Recent Representation: IRB InvIT Fund
S&R Associates represented IRB InvIT Fund
Recent Representation: IRB Infrastructure Trust
S&R Associates represented IRB Infrastructure Trust
Recent Representation: the Book Running Lead Managers
S&R Associates represented ICICI Securities and IIFL Capital, book running lead managers
[S&R Data+] India’s Digital Personal Data Protection Regime Takes Effect
On November 13, 2025, the Government of India notified the Digital Personal Data Protection Rules, 2025 (“Rules”) under the Digital Personal Data Protection Act, 2023 (“DPDP Act”). These rules follow the draft Digital Personal Data Protection Rules, 2025, which were released for public consultation
Recent Representation: the Book Running Lead Managers
S&R Associates represented Axis Capital, Morgan Stanley, Citigroup, J.P. Morgan and Jefferies, book running lead managers
Recent Representation: Peak XV Partners, Y Combinator and Ribbit Capital, selling shareholders
S&R Associates represented Peak XV Partners, Y Combinator and Ribbit Capital, selling shareholders
Investment in Renewable Energy Projects: Key Legal Due Diligence Considerations
India has rapidly adopted clean energy to diversify its energy mix given its climate commitments. An enabling policy framework and technological advances have resulted in broad based participation in this sector. This note considers key issues for a legal due diligence on renewable energy generating
Recent Representation: Eversana Life Sciences
S&R Associates represented Eversana Life Sciences
Recent Representations: IHH Healthcare Berhad
S&R Associates represented IHH Healthcare Berhad and its wholly-owned indirect subsidiaries, Northern TK Venture Pte. Ltd and Parkway Pantai Limited
Recent Representation: the Book Running Lead Managers
S&R Associates represented ICICI Securities, Citigroup, J.P. Morgan and Kotak Mahindra, book running lead managers
Recent Representations: Stelling Technologies (IntrCity)
S&R Associates is representing Stelling Technologies (IntrCity)
S&R Associates Announces New Partners
We are pleased to announce that Shiv Bhargava, Kanika Khanna and Prateek Sharma have been designated as retained partners at S&R Associates.
Recent Representation: Midwest Limited
S&R Associates represented Midwest Limited
SEBI Introduces Framework to Streamline Transfer of Portfolio Management Services
The Securities and Exchange Board of India (“SEBI”) has issued a circular introducing a framework for the transfer of Portfolio Management Service (“PMS”) businesses between registered Portfolio Managers. The framework, effective immediately, requires prior SEBI approval for all transfers, whether w
Integrating Virtual Power Purchase Agreements into India’s Power Market: Proposed Changes to the Reg
Certain changes to the Indian regulatory framework, as applicable to virtual power purchase agreements (“VPPAs”), have been recently proposed by the Central Electricity Regulatory Commission (“CERC”) pursuant to draft regulatory instruments – including through VPPA-specific guidelines, as well as ne
Recent Representation: Peak XV Partners
S&R Associates represented Peak XV Partners
Recent Representation: Canara HSBC Life Insurance Company Limited
S&R Associates represented Canara HSBC Life Insurance Company Limited
Recent Representation: Euro Pratik Sales Limited
S&R Associates represented Euro Pratik Sales Limited
Recent Representation: Bertelsmann India Investments
S&R Associates represented Bertelsmann India Investments
India’s New Online Gaming Law: Implications for the Gaming Ecosystem
The Promotion and Regulation of Online Gaming Act, 2025 (the “Online Gaming Act”) introduces a new regulatory framework for the gaming sector. The Online Gaming Act marks a significant shift in India’s approach to online gaming by recognizing and promoting e-sports and social games, while prohibitin
Recent Representation: Freight Commerce Solutions (Freight Tiger)
S&R Associates represented Freight Commerce Solutions (Freight Tiger), a provider of technology-based logistics and transportation solutions
Regulatory Update: Introduction of a New Co-Investment Scheme for AIFs by SEBI
The Securities and Exchange Board of India has introduced a new Co-Investment Vehicle Scheme (“CIV Scheme”) under the AIF Regulations, effective September 9, 2025, allowing Category I and II AIFs to offer co-investment opportunities directly to accredited investors. The CIV Scheme serves as an in-ho
A Framework for Using AI in the Indian Financial Sector
On August 13, 2025, a committee constituted by the Reserve Bank of India (“RBI”) released its report with respect to a proposed framework for the responsible and ethical enablement (FREE) of artificial intelligence (AI) models in the Indian financial sector (such report, “FREE AI Report”), pursuant
Recent Representation: State Bank of India and seven listed private sector banks
S&R Associates represented State Bank of India and seven listed private sector banks, namely HDFC Bank Limited, Kotak Mahindra Bank Limited, Axis Bank Limited, ICICI Bank Limited, IDFC First Bank Limited, Bandhan Bank Limited and Federal Bank Limited
The Insolvency and Bankruptcy Code (Amendment) Bill, 2025
The Insolvency and Bankruptcy Code (Amendment) Bill, 2025 (“Bill”) proposes the single biggest overhaul to the existing insolvency framework in India since the Insolvency and Bankruptcy Code, 2016 (“Code”) came into effect in December 2016. The Bill attempts to address various challenges that have a
Recent Representation: Penguin Random House India
S&R Associates represented Penguin Random House India
Regulatory Updates: Clean Energy (April to September 2025)
Issue 3 of 2025 of our Roundup Series on Clean Energy covers the six-month period between April and September 2025. This Issue tracks regulatory and other key developments at both Central and State levels in the covered period with respect to solar and wind energy generation, green hydrogen and gree
Recent Representation: Embassy Office Parks REIT
S&R Associates is representing Embassy Office Parks REIT,
Recent Representation: Hillhouse Investment
S&R Associates represented Hillhouse Investment
Recent Representation: Maple Infrastructure Trust
S&R Associates represented Maple Infrastructure Trust
Recent Representation: IRB InvIT Fund
S&R Associates represented IRB InvIT Fund
Recent Representation: IRB Infrastructure Trust
S&R Associates represented IRB Infrastructure Trust
Recent Representation: the Book Running Lead Managers
S&R Associates represented ICICI Securities and IIFL Capital, book running lead managers
[S&R Data+] India’s Digital Personal Data Protection Regime Takes Effect
On November 13, 2025, the Government of India notified the Digital Personal Data Protection Rules, 2025 (“Rules”) under the Digital Personal Data Protection Act, 2023 (“DPDP Act”). These rules follow the draft Digital Personal Data Protection Rules, 2025, which were released for public consultation
Recent Representation: the Book Running Lead Managers
S&R Associates represented Axis Capital, Morgan Stanley, Citigroup, J.P. Morgan and Jefferies, book running lead managers
Recent Representation: Peak XV Partners, Y Combinator and Ribbit Capital, selling shareholders
S&R Associates represented Peak XV Partners, Y Combinator and Ribbit Capital, selling shareholders
Investment in Renewable Energy Projects: Key Legal Due Diligence Considerations
India has rapidly adopted clean energy to diversify its energy mix given its climate commitments. An enabling policy framework and technological advances have resulted in broad based participation in this sector. This note considers key issues for a legal due diligence on renewable energy generating
Recent Representation: Eversana Life Sciences
S&R Associates represented Eversana Life Sciences
Recent Representations: IHH Healthcare Berhad
S&R Associates represented IHH Healthcare Berhad and its wholly-owned indirect subsidiaries, Northern TK Venture Pte. Ltd and Parkway Pantai Limited
Recent Representation: the Book Running Lead Managers
S&R Associates represented ICICI Securities, Citigroup, J.P. Morgan and Kotak Mahindra, book running lead managers
Recent Representations: Stelling Technologies (IntrCity)
S&R Associates is representing Stelling Technologies (IntrCity)
S&R Associates Announces New Partners
We are pleased to announce that Shiv Bhargava, Kanika Khanna and Prateek Sharma have been designated as retained partners at S&R Associates.
Recent Representation: Midwest Limited
S&R Associates represented Midwest Limited
SEBI Introduces Framework to Streamline Transfer of Portfolio Management Services
The Securities and Exchange Board of India (“SEBI”) has issued a circular introducing a framework for the transfer of Portfolio Management Service (“PMS”) businesses between registered Portfolio Managers. The framework, effective immediately, requires prior SEBI approval for all transfers, whether w
Integrating Virtual Power Purchase Agreements into India’s Power Market: Proposed Changes to the Reg
Certain changes to the Indian regulatory framework, as applicable to virtual power purchase agreements (“VPPAs”), have been recently proposed by the Central Electricity Regulatory Commission (“CERC”) pursuant to draft regulatory instruments – including through VPPA-specific guidelines, as well as ne
Recent Representation: Peak XV Partners
S&R Associates represented Peak XV Partners
Recent Representation: Canara HSBC Life Insurance Company Limited
S&R Associates represented Canara HSBC Life Insurance Company Limited
Recent Representation: Euro Pratik Sales Limited
S&R Associates represented Euro Pratik Sales Limited
Recent Representation: Bertelsmann India Investments
S&R Associates represented Bertelsmann India Investments
India’s New Online Gaming Law: Implications for the Gaming Ecosystem
The Promotion and Regulation of Online Gaming Act, 2025 (the “Online Gaming Act”) introduces a new regulatory framework for the gaming sector. The Online Gaming Act marks a significant shift in India’s approach to online gaming by recognizing and promoting e-sports and social games, while prohibitin
Recent Representation: Freight Commerce Solutions (Freight Tiger)
S&R Associates represented Freight Commerce Solutions (Freight Tiger), a provider of technology-based logistics and transportation solutions
Regulatory Update: Introduction of a New Co-Investment Scheme for AIFs by SEBI
The Securities and Exchange Board of India has introduced a new Co-Investment Vehicle Scheme (“CIV Scheme”) under the AIF Regulations, effective September 9, 2025, allowing Category I and II AIFs to offer co-investment opportunities directly to accredited investors. The CIV Scheme serves as an in-ho
A Framework for Using AI in the Indian Financial Sector
On August 13, 2025, a committee constituted by the Reserve Bank of India (“RBI”) released its report with respect to a proposed framework for the responsible and ethical enablement (FREE) of artificial intelligence (AI) models in the Indian financial sector (such report, “FREE AI Report”), pursuant
Recent Representation: State Bank of India and seven listed private sector banks
S&R Associates represented State Bank of India and seven listed private sector banks, namely HDFC Bank Limited, Kotak Mahindra Bank Limited, Axis Bank Limited, ICICI Bank Limited, IDFC First Bank Limited, Bandhan Bank Limited and Federal Bank Limited
The Insolvency and Bankruptcy Code (Amendment) Bill, 2025
The Insolvency and Bankruptcy Code (Amendment) Bill, 2025 (“Bill”) proposes the single biggest overhaul to the existing insolvency framework in India since the Insolvency and Bankruptcy Code, 2016 (“Code”) came into effect in December 2016. The Bill attempts to address various challenges that have a
Recent Representation: Penguin Random House India
S&R Associates represented Penguin Random House India