Sidley’s significant transactional experience in India dates back to 1984 and the representation of the Indian Fund, a closed-end investment company organized in the U.S. to invest in securities of issuers domiciled in India. This was the first foreign investment fund to be given permission to invest in India. The firm then represented Merrill Lynch in 1988 in the initial underwriting and subsequent rights offerings of the India Growth Fund, Inc., the first registered investment company available to the public in the United States for investment primarily in Indian equity securities.
Sidley’s India-related practice is focused on providing legal advice on a global scale in connection with capital markets, private equity, investment funds, corporate/mergers and acquisitions and restructuring, project finance, international trade and related corporate matters. While the firm does not advise clients on Indian law matters, our lawyers have “on the ground” knowledge of the rapidly-changing legal environment in India and specifically, the rules applicable to foreign direct investment into India. Over the years, Sidley has represented government institutions, including the Government of India, multinational conglomerates, investment funds and commercial and investment banks in a variety of matters involving India and Indian legal issues.
Several lawyers on our team are fluent in Hindi, Bengali and Gujarati, in addition to English. Our Singapore, New York, Washington, D.C. and London offices are important hubs for India-related work.
Transactions of particular note that we have handled include representing AIG Highstar Capital II, a unit of American International Group, in its sale of 50 percent ownership interest in InterGen NV to GMR Infrastructure Limited for approximately US$1.3 billion, one of the largest acquisitions of a global utility by an Indian company at the time of transaction. This transaction was named in 2008 as M&A Deal of the Year by India Business Law Journal and, in 2009, as SE Asia Deal of the Year by Asian Legal Business. We are also consistently named in the top legal directories as recommended overseas counsel in India. We work closely with the leading Indian law firms when domestic advice is required.