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GAR 100 - 12th Edition

AZB & Partners

05 April 2019

Advising Nissan in a treaty claim against India

People in Who's Who Legal 1

AZB was born in 2004 from a merger between CZB & Partners in Mumbai and Ajay Bahl & Company in Delhi. Today the firm has five offices in India. It enjoyed a “best friends” agreement with Clifford Chance until 2011.

The firm has moved away from Indian law firms’ traditional family-style structure and has been praised for its clear partnership track.

AZB’s reputation owes much to the personality and profile of founding partner Zia Mody in Mumbai. She spent three years as vice president of the LCIA and has acted in numerous cases under that institution’s rules, as well as those of the ICC, SCC, LMAA, SIAC and UNCITRAL.

Senior partner Rajendra Barot in Mumbai leads the dispute resolution practice. Another strong name is Vijayendra Pratap Singh, partner and head of litigation in Delhi, who has spearheaded arbitrations related to option contracts, shareholder disputes and intellectual property issues.

Who uses it?

The former majority shareholders of Yukos Oil Company used the firm for a Delhi High Court action to enforce a US$50 billion award against Russia, which was discontinued.

Other recent clients include Tata Group; the owners of the Indian Premier League franchise cricket team Kochi Tuskers; India’s largest telecoms company, Bharti Airtel; Axis Bank; and private healthcare provider Parkway Pantai Group.

It’s also advised HSBC; Bank of New York Mellon’s London branch; Swiss Timing (a subsidiary of The Swatch Group); and BanyanTree Growth Capital.

Past clients include Vedanta Resources, KPMG, Philip Morris, Dhariwal Industries, Lehman Brothers and US cable television network ESPN. It has also acted for Indian property developer Kabul Chawla and his company, BPTP.

Track record

In one of its highest-profile cases, the firm defended Tata Sons in an LCIA claim brought by Japan’s largest mobile operator, NTT Docomo, over a short-lived internet services venture. The arbitration ended in 2016 with a US$1.17 billion award against Tata. The award was paid in the following year, after Delhi litigation that had seen the intervention of the Reserve Bank of India in a bid to thwart payment.

In 2015, AZB defended Swiss luxury goods group Richemont in litigation filed by an Indian distribution partner, persuading the Indian Supreme Court to refer the claims to arbitration. It also convinced the court to quash parallel criminal proceedings launched against the client.

Recent events

The firm secured a good result for Tata Steel in a claim against New India Assurance over its failure to pay out under an all-risk insurance policy following an accident in one of Tata’s blast furnaces. The Mumbai-seated case ended with an award in favour of Tata for US$14.5 million plus interest and costs.

AZB obtained a win for its clients SMS and Solar Industries India in two ad hoc claims against a mining company owned by the Indian state of Chhattisgarh. The dispute concerned a joint venture to exploit two coal blocks. AZB’s clients filed for arbitration after India’s Supreme Court held that the licences for the blocks were illegal. The tribunal upheld the clients’ claims regarding frustration and restitution.

With co-counsel Allen & Overy and Indian firm Lakshmikumaran & Sridharan in New Delhi, the firm has been appointed to act for Japanese car maker Nissan in a US$776 million investment treaty claim against India. The car maker says India has unfairly withheld payments promised in return for the company investing in a car plant in Chennai.

AZB is also representing IHH Healthcare, the world’s second-largest private healthcare group, in a SIAC arbitration against its minority partners in a subsidiary company in Hyderabad. IHH is seeking US$80 million while the minority shareholders are counterclaiming US$25 million.



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