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India Business Law Journal WWW.INDILAW.COM JUNE 2017 VOLUME 11 | ISSUE 1 INDIA BUSINESS LAW JOURNAL LEGAL INTELLIGENCE FOR IN-HOUSE COUNSEL YEARS A decade of documenting legal developments Remedies and recourse for victims of cyber-attacks Reforms fuel record-breaking levels of M&A activity Vantage Asia Revealed: The leading international law firms for India THE HEALTHCARE EXCELLENCE AWARDS SUMMIT2017 Convergence of Business & Law PHARMA & MEDICAL DEVICES 4th August 2017@ Hotel The St. Regis, Mumbai AN INTRODUCTION The Indian Healthcare & Pharmaceutical Industry is witnessing significant changes over the past few years. The overall Indian healthcare market which is worth around US$ 100 billion is expected to grow to US$ 280 billion by 2020, whereas the Indian Pharmaceutical Industry is expected to reach US$ 55 billion by 2020 from US$ 20 billion in 2015. This buoyed evolution of the Healthcare & Pharma industry is essentially attributed to the tremendous progress in terms of infrastructure development, technology base creation and several governmental initiatives like National Health Policy 2017 or Department of harmaceuticals' "Pharma Vision 2020" etc. on the anvil to address the accessibility, affordability and quality issues of healthcare in the country. The Healthcare & Pharma Summit promises to be a thought provoking event with an aim to knit and present a 360 degree perspective on the developments and recent regulatory challenges in the Healthcare & Pharma sector and their impact on economy and business communities. EXCELLENCE AWARDS TENTATIVE AGENDA The Awards will be inaugurated by Ranjeet Shahani, Vice Pharma Vision 2020: Bridging the gap Chairman & MD – Novartis Innovation, Drug Access & Pricing Medical Devices Industry: A Fostering Hub for Domestic Innovations • Excellence in Business Innovation Digitisation of Healthcare • Outstanding Contribution to the Pharma Sector The Investment Curve & the Road Ahead • Excellence in CSR Initiative • Excellence in Research & Development • Emerging Leader in Medical Devices CONFIRMED SPEAKERS • Excellence in Entrepreneurial Leadership • Operational excellence Some of the select key speakers include: • Excellence in Global Expansion • Leading Green Pharma Company • Alekh Dalal, Ex- MD Carlyle Group & Founder – One Thirty Capital • Emerging Leader in Pharmaceutical Distribution • Aluri Srinivas Rao, Ex-MD – Morgan Stanley PE Fund • Excellence through Technological Innovation • Amar Merani, Managing Director & CEO – Xander Finance Amit Chander, Partner – Baring Private Equity Partner • Excellence in e-Healthcare • • Anil Pareek, President (Medical Affairs & Clinical Research) – IPCA Laboratories • Excellence in Product Differentiation & Innovation • Daara Patel, Secretary – General – Indian Drugs Manufacturing Association (IDMA) • Debolina Partap, General Counsel – Wockhardt Platinum Partner Knowledge Partner • Dhiroj Kumar Barad, Head of Legal & CS – Siemens Healthcare • Dr. Milind Antani, Partner, Head, Pharma, Life Science and Healthcare Practice, Head, Social Sector Practice – Nishith Desai Associates • Ghanshyam Hegde, Director Legal – Abbott India • Kaizad Ansari, Head Legal & Corporate Affairs – GSK Gold Partner Silver Partner Supporting Partner • Mayur Sirdesai, Founder & Partners – Sommerset Indus Capital • Pradeep k Jaisingh, Founder & Chairman – Healthstart • Pravin Anand, Managing Partner – Anand & Anand • Ranjit Shahani, Vice Chairman & MD – Novartis Industry Partner Television Partner TALENT Partner • Ritika Ganju, Partner – Phoenix Legal • Shri Partha Jyoti Gogoi, Regional Director – Ministry of Health & Family Welfare • Tapan Pati, Director & Senior Legal Counsel – Johnson & Johnson • Vivek Mittal, Legal Head – Lupin Media Partner • Vivek Padgaonkar, General Secretary – Organisation of Pharmaceutical • Vivek Tiwari, CEO & Director - Boston Ivy Healthcare Solutions (P) Limited ( Medikabazaar. Biz) For Partnership opportunities and Participation, please contact: Vivek Das I [email protected] I M. + 91 99582 08068 Samta Thapa I [email protected] I M. + 91 98193 32365 Pankhuri Bhatt I [email protected] I M. +91 88266 94574 DELHI: Ground Floor, # 3, Green Park Main, New Delhi – 110 016 | T. + 91 11 2652 4801 | W. www.legalleague.co.in MUMBAI: Central Plaza, 301-B, 3rd Floor, 166, C.S.T. Road, Kalina, Mumbai - 400 098 CONTENTS 19 45 YEARS 41 CONTENTS 3 LEADER 19 COVER STORY 41 WHAT’S THE DEAL? A transformative moment? 10 years Crime in cyberspace A top down effort to trigger radical Memorable moments from a decade Former Snapdeal general counsel change that just may work documenting business law Ashish Chandra outlines the legal developments in India remedies and recourse available 4 INBOX to Indian companies that fall 25 VANTAGE POINT victim to cyber-attacks 5 MARKET PULSE India heads at international law firms • ELP unveils promotions say they have not waivered in their 45 INTELLIGENCE REPORT • Tributes pour in for ‘lawyer’s lawyer’ commitment to India Global stars • Anand to merge with Khimani Ten years on from our first survey of 29 SPOTLIGHT foreign law firms, with India back in 10 THE WRAP Bustling market the limelight and now the world’s • Deal digest: page 10 Liberalization and reforms fuel fastest growing major economy, • Business law digest: page 15 record-breaking levels of merger we reveal the top international • Dispute digest: page 17 and acquisition activity firms for India-related work 71 CORRESPONDENTS Expert advice from India Business Law Journal’s correspondent law firms 71 ANTI-CORRUPTION 75 DISPUTE RESOLUTION 78 MERGERS & ACQUISITIONS Cyril Amarchand Mangaldas Bharucha & Partners Shardul Amarchand Mangaldas 72 BANKING FINANCE & RESTRUCTURING 76 FOREIGN DIRECT INVESTMENT 79 REGULATORY SNG & Partners Luthra & Luthra DEVELOPMENTS 73 BUSINESS STRATEGY 77 INTELLECTUAL PROPERTY Phoenix Legal India Law Offices ENFORCEMENT 80 TAXATION 74 CORPORATE & COMMERCIAL LAW LexOrbis Lakshmikumaran & Sridharan Link Legal India Law Services 1 IBLJ ⁄ JUNE 2017 INDIA BUSINESS EDITORIAL BOARD LAW JOURNAL June 2017 Volume 11 / Issue 1 ISSN: 1994-5841 www.indilaw.com Bithika Anand Shamnad Basheer Sanjit Kaur Batra Lalit Bhasin Himavat Chaudhuri EDITORIAL Founder & CEO Founder Senior Counsel & Legal President Chief Legal Email: [email protected] Legal League SpicyIP Manager Society of Indian & Regulatory Consulting (South Asia) Law Firms Affairs Officer Telephone: +852 3622 2673 DuPont Tata Sky SUBSCRIPTIONS Email: [email protected] Telephone: +852 3622 2623 EDITOR Vandana Chatlani EDITOR-AT-LARGE Rebecca Abraham SUB-EDITOR Simmie Magid Anurag Chauhan PM Devaiah Badrinath Durvasula Rich English Nishchal Hindia Head of Legal & Partner & General Senior Vice President Director, Banking Senior Legal Counsel DIGITAL MEDIA EDITOR Leo Long Corporate Vice Counsel & General Counsel Legal United Spirits DIGITAL MEDIA EXECUTIVE Natalie Yiu President Everstone Capital Adani Group Barclays Max Life Insurance Advisors CONTRIBUTORS Ashish Chandra, Nandini Lakshman DESIGN & PRODUCTION Kaleid Design HEAD OF MARKETING Anita Fung ASSOCIATE PUBLISHER Tina Tucker PUBLISHER James Burden Ajay Kharbanda Todd Leitstein Amit Anant Moghay Amrita Mukherjee Fali S Nariman Chief Legal Officer Global Head of General Counsel Vice President, Legal Senior Counsel Delhi International Commercial Litigation HSBC India Hotstar (Star India) Airport Nokia VANTAGE ASIA PUBLISHING LIMITED 1603 Shun Kwong Commercial Building 8 Des Voeux Road West Hong Kong Telephone: +852 3622 2673 Debolina Partap Mysore R Prasanna Ashok Sharma Mohit Shukla Shukla Wassan General Counsel Independent Founder President Managing Director Executive Director – Legal Email: [email protected] Wockhardt Consultant Indian Corporate and Legal Head & Company Secretary www.vantageasia.com Counsel Association Barclays India Hindustan Coca-Cola EDITOR-IN-CHIEF John Church CORRESPONDENT LAW FIRMS DIRECTORS James Burden, Kelley Fong Policy on advertising, sponsorship and editorial independence In addition to its independent editorial content, India Business Law Journal may contain paid advertisements/listings and sponsored con- tent. All articles in the Correspondents section of India Business Law Journal and articles labelled “Practitioner’s perspective” are sponsored by the law firm or organization credited. However, the content of all such articles has been appraised and edited by India Business Law Jour- nal’s editors. Paid advertisements/listings have not been edited by India Business Law Journal’s editors and no responsibility is taken for the accu- racy of any information they contain. All other content in India Business Law Journal, including articles, features, rankings, awards, quotations, photographs and illustrations, is fully independent editorial content that has been written, commissioned or selected by India Business Law Journal’s editors on purely editorial grounds. India Business Law Journal values and upholds its editorial independence and integrity and never accepts payment for inclusion in its independent editorial content. This policy is upheld at all times. SUBSCRIPTION INFORMATION Disclaimer & conditions of sale Vantage Asia Publishing Limited retains the copyright of all material published in this magazine. No part of this magazine may be repro- duced or stored in a retrieval system without the prior written per- India Business Law Journal is [email protected] mission of the publisher. The views expressed in this magazine do not published 10 times a year and has necessarily reflect the views of the
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