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Amarchand holds #1, Link Legal pushes Luthra to #3 in Projects, with overall dry 2012

Digging up roads, equals money
Digging up roads, equals money
Exclusive: Amarchand Mangaldas has held fort as project finance leader for the second consecutive year since replacing Luthra & Luthra in 2011 at the top of the top 10, according to data provided by Dealogic. 10 front-runners this year produced less than half of the total projects revenue docketed in 2011.

With a global projects revenue plummet of 6 per cent since 2011, this was the first year-on-year decline since the 17 per cent drop recorded in 2002. The global revenue stood at $382.3bn from 901 projects this year. Of this, ten top Indian law firms acted on 140 projects worth $35.8bn.

Amarchand’s 24 project finance deals amounting to $7.4bn was nearly a 54 per cent drop from the $16bn it raked in from 29 projects in 2011. Amarchand also made its way into the global top 10, sitting at number eight, while in terms of private financings and public-private partnerships, it followed global runners up Link Legal.

Luthra & Luthra had to give up the second spot this year to Link Legal, which in July had pipped 2011 frontrunner Amarchand at the top of the half-year rankings. It docketed 10 deals worth $5.2bn, the majority $4.9bn of which was aggregated from seven projects by July.

Link Legal merged with projects boutique India Law Services in December. India Law Services fell two places after five deals worth $1bn, as compared to its $4.5bn from 15 in 2011.

Two-year-old Clasis Law which had flown in for the first time into the league tables last year, moved up two places to number five in the 2012 rankings, replacing Trilegal which made its way out of the top ten. It was followed by Khaitan Sud & Partners which reported ten transactions worth $2.4bn this year – State Bank of India’s (SBI) $1.6bn financing leading the pack.

SBI was also the top global mandated arranger counting 58 projects valuing $16bn.

The projects volume from Australia grew 121 per cent to $81.9bn, overtaking India to lead national ranking in 2012.

Top 10 legal adviser ranking for India – full year 2012

   

Legal Adviser

Amount($m.)

No.

%share

2011 FY Rank

 

Amarchand & Mangaldas & Suresh A Shroff & Co

7,399

24

20.6

1

 

Link Legal

5,213

10

14.5

5

 

Luthra & Luthra

3,832

11

10.7

2

 

SJ Law Advocates & Solicitors (India)

3,577

15

10.0

3

 

Clasis Law

3,433

21

9.6

7

 

Khaitan Sud & Partners

2,441

10

6.8

NA

 

R & A Legal Advocates

1,619

10

4.5

8

 

India Law Services

1,066

5

3.0

6

 

Atul Sharma & Associates - ASA

992

1

2.8

31

 

Dhir & Dhir Associates

945

2

2.6

14

 

Total

35,850

140

100.0

   
           

 

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