The banking and finance offering at AZB & Partners runs the gamut of domestic and cross-border matters, expertly providing both borrower- and lender-side advice on leveraged buyouts, acquisition finance, and structured finance, as well as project finance transactions. Bahram Vakil and Anand Shah jointly oversee the team, which attracts praise for its ‘commercial approach and client-focused solutions.’ Founding partner Vakil has extensive experience advising on infrastructure and project finance matters, while Shah is a key port of call for domestic and offshore financial institutions and investors. Nilang Desai is the key contact for restructuring and insolvency transactions; Hufriz Wadia takes point on cross-border asset financing mandates; and Ishan Handa is the name to note for real estate financing work.

Cyril Amarchand Mangaldas’ market-leading banking and finance practice group regularly acts on the full range of high-value financing matters, including project finance, debt restructurings, corporate finance, and mezzanine financings. Senior partner Santosh Janakiram, who also heads up the firm’s projects and renewable energy groups, is a name to note for bond and structured debt financings as well as banking and finance work in the energy space. Janakiram works alongside Amey Pathak, who regularly advises banks and financial institutions on infrastructure project finance; senior partner L. Viswanathan is another key name here. Other notable individuals in the group include managing partner Cyril Shroff as well as Leena Chacko, who has a strong track record advising on structured debt transactions and mezzanine debt structures.

The banking and finance team at JSA Law maintains a market-leading offering that spans the full range of financing transactions with a notable emphasis on advising borrowers on structured finance and project finance transactions. The team is also regularly instructed by lenders and investors seeking advice on cross-border lending transactions; practice head Anish Mashruwala is a key port of call in this space. Uttara Kolhatkar focuses her practice on debt capital market transactions, while Pratish Kumar handles strategic debt restructurings. Other notable individuals in the group include Utsav Johri, recommended for his acquisition finance expertise, structured finance specialist Tirthankar Datta, and senior consultant Aashit Shah.

Lauded by clients for its ‘innovative thinking and a solution-oriented approach,’ the banking and finance team at Juris Corp counts lenders across a diverse range of industries, including aviation, financial services, infrastructure, and energy, among its strong roster of clients. Senior partner Jayesh H stands out for his expertise in leveraged buyouts, restructurings, and structured finance, while Ankit Sinha takes point on foreign currency lending, credit enhancement structures, and transaction structuring matters. Saurabh Sharma, who clients describe as being ‘the pinnacle of expertise and professionalism in this field’, rounds out the group’s leadership and is the name to note for acquisition finance, bonds and notes issuances, and restructurings; the trio jointly oversees the practice.

Counting major corporates, international banks, NBFCs, and financial institutions among its impressive roster of clients, Khaitan & Co. fields a large and experienced banking and finance team with expertise across the full spectrum of financing transactions. Finance and restructuring specialist Kumar Saurabh Singh advises leading domestic banks and financial institutions on cross-border transactions; national practice head Devidas Banerji is a key name for acquisition financing transactions, particularly in the pharma space; and co-head Rajeev Vidhani is a key contact for debt issuances, securitisation issues, and insolvency and restructuring mandates. Siddharth Srivastava is also recommended for restructuring and insolvency work. Manisha Shroff’s expertise spans debt capital markets transactions, offshore financings, and cross-border and syndicated financings.

Shilpa Mankar Ahluwalia and Veena Sivaramakrishnan jointly lead the ‘responsive, pragmatic, professional, and articulate‘ banking and finance team at Shardul Amarchand Mangaldas & Co, which works closely with the firm’s capital markets, private equity, and insolvency practices to provide a full-service transactional and regulatory offering. Ahluwalia has broad finance practice with a notable emphasis on structured debt and private credit; she also leads the firm’s fintech offering. Sivaramakrishnan takes point on derivatives and insolvency work as well as financial services regulatory mandates. Also in the core team are executive chairman Shardul Shroff and Shubangi Garg, who regularly advises global financial institutions and investment banks on structured debt investments and the issuance of listed NCDs.

Talwar Thakore & Associates fields a ‘diligent and commercial‘ banking and finance team with extensive expertise advising banks, NBFCs, and development finance institutions on cross-border fundraising, acquisition finance transactions, and the issuance of bonds and debentures. Key names in the team include senior partner Sonali Mahapatra, who has a strong track record advising on both international and domestic transactions, joint managing partner and corporate financing expert Gautam Saha, and Rahul Gulati, recommended for his derivates and financial regulatory expertise. On the project and real estate finance front, Nidhi Rani and Ambarish Mohanty are key names to note, while Rituparno Bhattacharya has a focus on structured finance mandates.

Routinely advising on a broad range of domestic and cross-border financings, private placements of bonds and debentures, and securitisation, the banking and finance team at Trilegal regularly acts for major public and private banks, financial institutions, foreign investors, and BCFCs. Practice head Ameya Khandge takes point on cross-border structured financings, while Kannan Rahul has extensive experience advising private equity funds and credit funds on loans, listed and unlisted debentures, and convertibles, as well as on general corporate financings. Described by clients as ‘exceptionally smart, bright, and attuned to business needs,’ Aniruddha Sen is a key contact for debt restructuring mandates, working alongside debt finance specialist Prasan Dhar. Pranav Sharma left the firm in 2024.

Acting for a diverse roster of private and public banks and financial institutions, the banking and finance team at Dentons Link Legal has a strong track record handling project finance, syndicated finance, corporate and working capital loans, and bond and debenture issues.  Managing partner Anand Srivastava, who splits his time between New Delhi and New York, oversees the practice; Srivastava excels across the full range of transactional mandates, with a notable emphasis on aircraft, infrastructure, and project finance. On the real estate and structured finance front, Nidhi Pathania is a key port of call for both domestic and international investors, while Samantha Fernandes is regularly instructed by both lenders and borrowers in the energy, logistics, and infrastructure industries.

With notable strength in housing, projects, and real estate finance, DSK Legal counts leading international banks, investors, and financial institutions among its impressive clientele. Managing partner Sajit Suvarna, Ajay Shaw, real estate finance specialist Srinivas B.R., and Anjan Dasgupta jointly lead the team; Shaw has a particular focus on distressed assets and loans, while Dasgupta routinely advice international banks, developers, and investors on acquisition finance, banking regulations, and fintech matters. They work alongside Roochi Loona and Avinash Kumar Khard, who advise on infrastructure and project finance, and Ashish Pahariya, a key name for structured financing, debenture issues, and equity transactions.

Large international banks, multilateral financial institutions, private credit funds, and other lender-side clients regularly seek the counsel of the ‘outstanding‘ banking and finance offering at IndusLaw, which stands out for its strength in both contentious and non-contentious matters. Notable individuals in the group include Sushmita Gandhi, whose expertise spans both cross-border debt financing transactions and arbitration mandates, and Ashutosh Narang, who takes point on acquisition finance, asset finance, and securitisation issues. Also in the core team are Shabbeer Ahmed and Pritha Chatterjee; Ahmed represents financial creditors and liquidators in complex litigation cases, while Chatterjee focuses her practice on structured finance issues and debt capital markets work.

Luthra and Luthra Law Offices India fields a ‘top quality‘ banking and finance team with notable strength in project finance, infrastructure, and renewables. Karan Mitroo is lauded by clients for his ‘knowledge, experience and astute negotiation skills’ and takes point on foreign and domestic debt financing matters; Girish Rawat has a focus on investments and financing transactions in the infrastructure and real estate industries; and Kartikeya Dubey represents borrowers and lenders from the aviation, manufacturing, and renewable energy industries on transactional and regulatory issues.

Niloufer Lam heads the banking and finance team at NL LEGAL, which attracts client praise for ‘its unique combination of innovative approaches, diverse expertise, and a strong commitment to client success‘. Insolvency work, external commercial borrowings,  and regulatory advice feature prominently in the group’s workload.  The ‘very strong‘ Lam is dual-qualified in Indian and English law and has a broad practice with a notable focus on cross-border transactions.

Handling external commercial borrowings, project finance, and financing transactions in the energy and infrastructure industries, the banking and finance team at Phoenix Legal routinely acts for domestic and offshore financial institutions, export credit agencies, and NBFCs. Aditya Bhargava takes point on cross-border financings, syndicated term loans, and structured finance work, working alongside the private equity and project finance-focused Sawant Singh and Harsh Arora, who handles restructurings, debt and equity investments, as well as project finance in the infrastructure space. Singh, Bhargava, and Arora jointly oversee the group alongside co-head and co-founder Abhishek Saxena.

Samvad Partners acts for both lenders and borrowers across a wide array of industries, handling balance sheet funding, mezzanine financing, structured finance, NCD issuance and regulatory issues. Microfinance is another core area of focus for the group, as is restructuring matters and venture debt work. Vineetha MG oversees the team, which also includes Sitara Pillai and Natasha Mahajan. MG leverages in-house experience from the banking industry to advise on the full range of banking and finance matters; Pillai is a key contact for NCD work, while Mahajan focuses her practice on external commercial borrowings and cross-border consortium lending transactions.

Acting for domestic and foreign banks as well as NBFCs, SNG & PARTNERS regularly handles structured finance matters,  cross-border financing transactions, and structured trade finance matters. Rajesh Narain Gupta is a key port of call for clients in the real estate industry; Gupta also handles stressed asset work. Amit Aggarwal takes point on debt transactions, as well as M&A and private equity matters. Anju Gandhi handles loan restructuring, multicurrency cross-border transactions, and external commercial borrowings; the trio jointly heads the team.

ALMT Legal’s banking and finance team acts for both lenders and borrowers on transactions in the pharma, construction, and IT sectors, with particular strength in advising on foreign exchange and banking regulations. Practice head Ryna Karani takes point on loan transactions, handling both rupee and external commercial borrowings; Karani also advises on restructuring and loan refinancings and works alongside Aliff Fazelbhoy, a key port of call for acquisition financing transactions.

Working in close collaboration with the firm’s broader corporate and transactional teams, Bharucha & Partners handles the full range of advisory and regulatory banking and finance work for international and domestic banks, financial institutions, and NBFCs. Co-head Alka Bharucha has extensive experience advising borrowers in the telecoms, power, and energy sectors on financings and refinancings. Co-head and managing partner Justin Bharucha focuses his practice on rupee and foreign currency structured facilities. Former co-head Rohit Sharma  left the firm in 2023.

Representing lenders, investors, and borrowers, Dhaval Vussonji & Partners handles a broad range of acquisition, project, and real estate financing transactions, both domestic and cross-border. Founder Dhaval Vussonji co-heads the practice alongside managing partner Prachi Dave and Manisha Paranjape; Dave advises on mezzanine funding and structured finance, while Paranjape is a key contact for debt securities and real estate finance. Malavika Menon left the firm in December 2023.

Acting for lenders, borrowers, and advisors, the banking and finance practice at Dhir & Dhir Associates handles a high volume of project finance matters in the infrastructure sector. Managing partner Alok Dhir and Guranpreet Singh Sarna jointly oversee the group; Sarna has extensive experience advising on projects and infrastructure finance, acting for both lenders and borrowers. He works alongside Shikha Singh, a key port of call for clients in the renewable energy sector.

S&R Associates is regularly instructed by clients in the energy and infrastructure sectors to advise on debt restructuring, secured and unsecured NCDs, and insolvency matters. Key names in the team include Arpita Garg and Kinnari Sanghvi; Garg acts for both lender- and borrower-side clients, handling a wide range of acquisition, real estate, and trade finance matters, while Sanghvi, who was elevated to the partnership in May 2024, regularly advises on investments. Aparna Ravi joined the firm in July 2024, while former practice head Divyanshu Pandey left the firm in 2024.

Singhania & Partners LLP advises borrowers and lenders on debt restructurings, term loan refinancings, and bond issuance, with a notable foothold in the renewable energy and infrastructure sectors. Abhimeet Sinha leads the team and is a key contact for project finance and infrastructure matters, handling regulatory work, inter-creditor issues, and securities.

Shabnum Kajiji heads up the banking and finance practice at Wadia Ghandy & Co, which stands out for its emphasis on external commercial borrowings, real estate and project financing, and regulatory advice. Kajiji has notable experience advising on structured finance work and debt transactions. Nihas Basheer is the name to note for securitisation and bilateral transactions, while Gopal Bankar focuses his practice on corporate and commercial finance.

With a notable emphasis on project, structured, and real estate finance, Argus Partners acts for banks, real estate funds, and investment managers on the full range of transactions. Krishnava Dutt, Aastha, and Nidhi Arya co-head the practice; founder and managing partner Dutt handles regulatory matters and large financing transactions, Aastha focuses her practice on structured finance, syndicated lending, and restructuring matters, while new equity partner Arya is a key name for real estate finance.

Project, corporate, and structured finance are core pillars of work for the banking and finance team at HSA Advocates. Acting for lenders, borrowers, and investors, the group is overseen by Srivar Awasthi, Armin Pardiwala, and Aditya Khandelwal. Pardiwala and Khandelwal are key names for project finance and infrastructure projects. Former practice co-head Sumit P. left the firm in 2023.

Indrajit Mishra and Nitesh Tiwari jointly lead the debt, banking, and financing practice at IC UNIVERSAL LEGAL, Advocates & Solicitors, which handles a broad range of transactional work for NBFCs, investment funds, and financial institutions. Senior partner Misha is a key port of call for NBFCs and housing finance companies seeking advice on securitisation, debt assignment, and deal structuring. Tiwari takes point on venture debt transactions and project finance matters.

The banking and finance practice at Indialaw LLP acts for a diverse array of lenders and investors in the energy and infrastructure sectors. Jointly led by senior partner Shiju P V, the infrastructure and real estate-focused Shrishail Kittad, and associate partner Nim Dem Dorjee, the group is well-placed to advise on a wide range of project finance and real estate finance mandates.

Juris Arena leverages the firm’s expertise in transactional mandates to handle the full range of corporate finance matters, including syndicated loans, security documentation, project finance, and bonding facilities. Soumitra Banerjee and Anjali Haridas co-head the team; Banerjee has a broad practice spanning transaction structuring, due diligence, and investments, while Haridas takes point on securitisation and debt finance work.

Siddartha Karnani heads the banking and finance offering at King, Stubb & Kasiva, which advises credit unions, banks, and finance companies on multi-bank credit facilities, project finance, and rupee term loans. Karnani handles a broad array of financing transactions, included syndicated lending and cross-border matters.

Handling project finance, consortium finance, and structured finance transactions, Krishnamurthy and Co acts for banks, debt funds, and NBFCs. Practice head Rukmini Roychowdhury has extensive experience handling large lending transactions, receivables financing, and private equity transactions. Working alongside Roychowdhury is Zeeshan Khan, a key port of call for distressed debts recovery, lending transactions, and insolvency deals.

Lauded by clients for its ‘clear-cut advice‘, Majmudar & Partners has a strong emphasis on advising Indian financial institutions and banks on external financing transactions and has recently seen an uptick in instructs in the NBFC sector. Akil Hirani heads the team and is the key port of call for domestic companies and structuring investment advice. Hirani works alongside Fraser Alexander, who takes point on contentious banking mandates.

Acting for both lenders and borrowers, Tatva Legal Hyderabad regularly handles the full spectrum of banking and finance matters, including corporate and syndicated lending, insolvency matters, and real estate finance. K. Shivacharan Reddy oversees the department and is a key name on for real estate finance.

Veritas Legal‘s banking and finance offering stands out for its strong focus on infrastructure finance, handling rupee term loan matters and bond issuance work for a variety of clients in the sector. Jhinook Roy heads up the team and has extensive experience advising on large-scale infrastructure projects and financing transactions.