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For more than a decade, Covington has worked to establish an India practice and has been involved in a number of significant matters in India. We have represented U.S., European and Indian clients on a variety of India-related projects, including mergers and acquisitions, project financings, joint ventures and other corporate matters, trade and regulatory matters, and investigations. Our lawyers have also been involved in international arbitrations on behalf of and against Indian parties.
Covington’s practice is distinctive in that our clients include an even mix of major Indian companies and companies based in the U.S. and Europe; we do not focus exclusively on in-bound transactions. Our experience in representing Indian clients has given us unique insights and access to senior decision-makers in India’s largest and most prestigious companies. That experience and understanding of the Indian business and regulatory environment, together with the close relationships we have developed, enable us to provide timely, practical and effective advice on India-related matters for all our clients.
Our practice has enabled us to work with a number of leading India-based law firms, and we have developed close working relationships with India's most distinguished law firms giving our clients resources in all of the major cities in India, such as Mumbai, New Delhi, Bangalore, Chennai, Kolkata (Calcutta), among others. These prestigious firms have practices that cover a number of areas, including arbitration and litigation; banking; capital markets; corporate and commercial; investment funds; information technology; infrastructure and project finance; intellectual property; labor and employment; real estate; tax and trade. Covington works with these firms on a number of client matters and is well positioned to provide seamless advice on matters that require both a U.S./European legal perspective and an Indian legal perspective.
Covington’s India practice is also distinctive in that we often advise clients on matters of public policy relating to India. Our advice and representation in this area covers matters of international trade and investment, foreign assistance, intellectual property rights, trade controls, and competition law. This aspect of the practice draws on our offices around the world, as well as alliances we have developed with international consulting firms and public policy firms that have deep experience in India.
Represented Famy Care Limited in its $750 million sale of its women's health business to Mylan Laboratories Limited.
Represented Lightbridge Communications in its $240 million acquisition by Tech Mahindra Ltd.
Advised Football Sports Development on the formation of the Indian Super League (ISL).
Represented The Walt Disney Company in its $455 million acquisition of India's UTV Software Communications Limited, an integrated media and entertainment company involved in broadcasting, motion pictures, games content, interactive, and television content.
ICICI Bank Limited, India’s second largest bank, as the lender in a $1.7 billion structured financing for an affiliate of an India-based multinational company.
Reliance Infocomm Limited in connection with its $750 million financing from the Export-Import Bank of the United States and Export Development Canada, the proceeds of which were used to assist Reliance Infocomm in building a state of the art telecommunications infrastructure for India.
AXIS Bank Limited, India’s third largest bank, as lead arranger for $180 million in project finance supporting a pharmaceutical manufacturing facility in Gujarat and a pharmaceutical research and development center in Mumbai.
April 13, 2017, Global Policy Watch
India is home to 13 of the 20 most polluted cities in the world as documented by the World Health Organization (WHO). Half of Delhi’s 4.4 million children have permanent lung damage that they will never fully recover from. The 2017 State of Global Air report, published by the Health Effects Institute, shows that air … Continue Reading
January 30, 2017
WASHINGTON—Covington represented India-based Piramal Enterprises and its wholly owned Critical Care subsidiary in the UK in its agreement to acquire a portfolio of intrathecal spasticity and pain management drugs from Mallinckrodt LLC.
The purchase price was $171 million, plus an earn-out of up to an additional $32 million. This is the third acquisition that ...
October 21, 2016
WASHINGTON—Covington represented India-based Piramal Enterprises and its wholly owned Critical Care subsidiary in the UK in the acquisition of five anesthesia and pain management injectable products from Janssen Pharmaceutica NV, in an all cash deal for an upfront consideration of US$155 million, and up to an additional US$20 million.
The products to be acquired ...
August 30, 2016, Global Investigations Review
Global Investigations Review highlights Covington’s role in helping AB InBev secure a declination notice from the U.S. Department of Justice in an FCPA investigation regarding the company’s business partners in India. The Covington team was led by Steven Fagell, who worked with Lanny Breuer, Jason Criss, and Benjamin Haley on the matter.
June 24, 2016, Covington Alert
The UK has voted to leave the European Union in an advisory referendum. 52% leave - 48% remain.
Were the UK to leave the EU, this would have significant implications for the UK and for international businesses operating in the UK. The longer term impact of the decision on the regulatory framework for the UK will depend, in part, on the relationship that the UK ...
March 18, 2016, BNA's Antitrust & Trade Regulation Report
January 28, 2016
WASHINGTON, DC - Law360 has named six Covington practice groups among its “Practice Groups of the Year.”
The practice groups recognized by Law360 are as follows:
November 18, 2015
WASHINGTON, DC, November 18, 2015 - The Human Rights Campaign Foundation (HRC) has awarded Covington a perfect score of 100 percent for the eighth consecutive year on its Corporate Equality Index, a national benchmarking survey and report on corporate policies and practices related to LGBT workplace equality. Covington is among 400 major US businesses that ...
July 23, 2015, Global Arbitration Review
A piece on our new arbitration app quoting Marney Cheek, Jeremy Wilson and Stephen Bond and mentioning William Lowery’s and Catherine Karia’s roles in developing the app.
June 11, 2015, Global Policy Watch
When Prime Minister Narendra Modi began his tenure at the helm of one of the world’s fastest growing economies, he made it a priority to attract foreign investors to continue India’s economic growth. However, just one year after assuming office, Prime Minister Modi and his administration must confront the concerns of foreign investors, following the … Continue ...
On June 3, 2015, U.S. Secretary of Defense Ashton Carter and Indian Defense Minister Manohar Parrikar signed a 10-year defense framework agreement during Secretary Carter’s 10-day trip to the Asia-Pacific region, which included a stop in India. This framework agreement comes at a time when the United States and its allies are stepping up defense … Continue ...
June 2, 2015, Global Policy Watch
In the wake of the April 2, 2015 announcement that the P5+1 countries (the United States, the United Kingdom, France, Russia, China, and Germany), together with the European Union had reached agreement with Iran on the parameters of a deal in which Iran would curtail its nuclear program in exchange for sanctions relief from the … Continue Reading
May 18, 2015, Global Policy Watch
Almost all of the more than 3,000 bilateral investment treaties (BITs) in existence offer foreign investors the protection of “fair and equitable treatment” under international law. India’s new draft model BIT does not. In place of the well-established standard of protection, which has been interpreted and applied in hundreds of prior investment arbitrations, ...
May 15, 2015, Global Policy Watch
Despite recent improvements in India’s economic stability, the hangover from India’s credit fueled boom isn’t over yet. Estimates of the percentage of bank loans that are “impaired” — where repayment of the loan is classified as doubtful — run as high as 9%. Following the global financial crisis in 2008 and 2009, India joined countries … Continue Reading
May 11, 2015, Global Policy Watch
Growth in India’s insurance market has been hampered by a lack of capital, and also a lack of consumer demand. The two problems are related: with the market still dominated by large, government-linked companies, insurance products have not always been effectively promoted by stakeholders. This in turn has left individuals and small businesses unaware of … ...
May 11, 2015, GlobalPolicyWatch Blog
May 5, 2015
WASHINGTON, DC, May 5, 2015 — Covington and Tatva Legal are hosting the Third Annual India-U.S. Defense and Security Forum on Wednesday, May 6 at the Taj Palace Hotel in New Delhi.
Coming on the heels of President Obama and Prime Minister Modi’s commitment to deepen their countries’ bi-lateral defense relationship, this landmark forum will focus on the ...
May 5, 2015, Global Policy Watch
Net neutrality has become a hot button issue, not only in the United States, but worldwide. Net neutrality is the principle that Internet service providers (ISPs) should enable access to all content and applications regardless of the content’s source, and without favoring or blocking particular products or websites. Supporters of net neutrality worry that ...
March 3, 2015, Global Policy Watch
Many western consumer firms operating in India have been successful at adapting to the country’s unique market challenges, which range from distinct consumer tastes and preferences to the logistical challenges of reaching a population that is still overwhelmingly rural. Taxation and regulation have often been less pliable obstacles, as demonstrated by the deep ...
January 7, 2015, Global Policy Watch
Over three months have passed since Indian Prime Minister Narendra Modi’s visit to the United States, and the economic relationship between the United States and India continues to strengthen over time. On December 3rd, the Modi government announced the creation of a panel to help fast-track investment proposals coming from the United States. The panel … ...
November 12, 2014, GlobalPolicyWatch Blog
August 1, 2014, Law360
John Veroneau is quoted in this article regarding the news that WTO members have failed to convince a group of developing countries led by India to budge from their demands that enactment of a trade facilitation agreement over agricultural subsidies run in parallel with efforts to shield their domestic food security programs from legal challenges:
“The fact ...
May 19, 2014, Covington E-Alert
January 27, 2014, Law360
September 2009, India Business Law Journal
WASHINGTON, DC, November 20, 2008 — Covington & Burling LLP is pleased to announce that both Chambers Asia 2009 and The Legal 500 Asia Pacific have recognized the firm’s India practice. This is the first time that Covington has been included in either guide for that region. Chambers Asia 2009 recognizes Covington in the Overseas Counsel - Corporate & Finance ...