Indian Law Firm

S&R Associates is an Indian law firm with offices in New Delhi and Mumbai providing legal services to Indian and international clients.

Our lawyers are admitted to practice in India and many have previously practiced law in other jurisdictions, including in the United States, the United Kingdom and Singapore. As a result, we offer our clients a unique combination of Indian law expertise coupled with international quality legal services.

We distinguish ourselves based on the quality of our services and legal advice and on the range of our experience. Our lawyers have advised on some of the most significant Indian transactions and matters in recent times. The quality of our legal advice and services has helped us become the law firm of choice for our clients and has also been recognised by various industry publications, surveys and rankings. Lawyers in each of our practice areas have routinely been recognised as leading lawyers in India by Chambers Global, Chambers Asia Pacific, IFLR1000, Legal500 and RSG India Report.

Recent Publications

Capital Reduction: Tax Conundrums!

Capital Reduction, simply put, refers to the technique of reducing a company’s share capital in any form. It is a usually adopted mechanism by the companies for re-modelling their capital structure, amongst other means (viz., buy-back of shares and redemption of the preference share capital). Depending upon the objectives and attendant circumstances, a company can undertake capital reduction either with or without making any payment to its shareholders. This note discusses the tax implications that may arise in the hands of the company undertaking such capital reduction and its shareholders under different situations.

Yes Means Yes: Managing Consent Under India’s New Data Protection Law

Unlike the EU’s GDPR (which allows non-consensual data processing under various circumstances), India’s new Digital Personal Data Protection Act, 2023 (the “DPDP Act”) relies heavily on consent as a ground for processing personal data. Other than a few ‘legitimate uses’ specified in the DPDP Act, consent will be the only legal basis for processing digital personal data in India once the law enters into force. This note discusses the role of consent managers and the potential of notice-and-consent management platforms (both inhouse and outsourced) to help entities comply with their obligations under the DPDP Act.

Assessing the Sweep of a Recently Introduced Disclosure Requirement in the SEBI Listing Regulations

On June 14, 2023, the Securities and Exchange Board of India (“SEBI”) notified certain amendments to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”). The amendments are designed to strengthen corporate governance in listed entities by enhancing shareholder suffrage and disclosure of material events. Notably, the amendments introduced a new Regulation 30A that is to be read with a newly inserted Clause 5A of Paragraph A of Part A of Schedule III to the SEBI Listing Regulations (“Clause 5A”). Regulation 30A mandates shareholders, promoters, promoter group entities, related parties, directors, key managerial personnel, and employees of a listed entity or of its holding company, subsidiary, or associate company (“Specified Persons”) to notify the listed entity as and when any of them enters into agreements covered by Clause 5A (“5A Agreements”).
This note highlights the key features of Clause 5A and outlines certain practical considerations for Specified Persons and listed entities.