Saket Shukla

Saket Shukla is a Co-founding Partner of Phoenix Legal, based in New Delhi, with nearly three decades of experience. His primary practice area is Mergers and Acquisitions, and he specialises in strategic advisory work, high-end complex transactions and dispute resolution advisory across various sectors, including infrastructure, mining and resources, oil and gas, construction, insurance, broadcasting, telecom, employment, real estate, internal investigations and hospitality.

He is also adept at crisis management and has been recognised by numerous clients for his solution-oriented approach. He has handled intricate strategic advisory, transactional, litigation and projects work, representing investors, targets and various project participants. He has regularly represented clients on their India strategy from inception to exit, including through restructurings and high-value acrimonious exits, navigating the complexities of the Indian regulatory framework and enforcement actions. His clients include major international investors, multilateral agencies, promoter groups and HNIs.

He keenly follows the regulatory environment in India and participates in various policy-building measures. He led an initiative with the insurance regulator which ultimately resulted in the regulator issuing guidelines for mergers of general insurers in India. He has also advised a US Task Force on CSR-related issues and a project in eastern India connecting silk weaving communities with designers and artists-in-residence. He has undertaken pro bono engagements for a leading media organisation and a European business chamber in India.

His representative experience includes advising a large Japanese trading company on its strategy to deal with multiple disputes against various Indian companies, including an LCIA award in India passed in relation to a high-value dispute with an Indian company; defending criminal proceedings and forcing a settlement through court ongoing quashing proceedings; initiating various recovery proceedings in relation to purchaser defaults under various supply contracts; dealing with potential proceedings against the Income Tax authorities to challenge recovery proceedings; and managing indirect tax proceedings involving the client on account of defaults of the Indian entity.

He advised Arnab Goswami on his high-profile exit from the Times Group and the setting up of a news media venture under the brand name "Republic TV", including the recent acquisition of shares held by Asianet News Media and Entertainment Private Limited in ARG Outlier Media Asianet News Private Limited, and the setting up of operations and business of different channels of Republic TV and their offices.

He also advised Apis Partners, a leading private equity asset manager focused on financial services in growth markets, on its acquisition of a significant minority stake in Star Health & Allied Insurance Co. Ltd.; advised Navis Capital on its exit from Classic Stripes Private Limited (CSPL) and the simultaneous acquisition of US and Indonesian subsidiaries of CSPL; and advised a leading Japanese trading company on its complete exit from an Indian joint venture engaged in the development and operation of industrial parks and leasing of industrial facilities, involving the sale of its 34% stake to the other joint venture partner.

Other matters include advising F & B Asia Ventures (Singapore) Pte Limited, a division of private equity Everstone Capital, on its acquisition of a majority stake in Massive Restaurants Private Limited, which runs the Indian-themed Masala Library, Made in Punjab and Farzi Cafe chains of restaurants and cafes; advising an infrastructure fund of the IDFC group on its acquisition of a 26% stake in Delhi Cargo Service Center Private Limited, a leading cargo service operator at Delhi Airport; and advising Leighton Welspun Contractors Pvt. Ltd., a leading construction, mining and project development group, in connection with their participation in bidding for several engineering, construction and procurement contracts for the development of various projects, including railway lines, real estate projects and port and marine projects, and advising on various existing contracts of the group in India.

He has also advised a leading steel manufacturer on bid issues relating to the allotment of a captive coal mine following the new rules for allocation of coal mines after the cancellation of all coal block allocations by the Supreme Court, including post-award issues and navigating various regulatory hurdles; and advised Accor and InterGlobe Enterprises Limited on the grant of a concession by Delhi International Airport Private Limited for the construction of hotels in certain areas around Delhi International Airport, reviewing and negotiating the concession agreements leading to their signing.