Known around the world as a hub of “excellent” aviation expertise, Gagrats has undergone strong growth over the past year, expanding its team with five new hires and working on headline-grabbing matters across numerous disciplines. Alongside aviation, Gagrats is praised for the quality of its international and domestic corporate transactional work, its disputes capabilities, and its work in large power and infrastructure projects.
Senior Mumbai partner Rustam Gagrat is internationally recognised for his work in aviation finance and regulatorywork, encompassing aircraft acquisitions, crossborder leasing and subleasing, restructurings, aircraft securitisations, cargo-handling agreements, airline mergers and acquisitions and IPOs and securities offerings of airline companies. A new addition to the partnership in 2013, Vishakha Vaswani is an arbitration and litigation specialist, whose recruitment has helped boost the disputes capacity at the firm.
Gagrats acted as counsel to Jet Airways in its strategic stake sale to Etihad Airlines under the newly liberalised Indian FDI policy for aviation, and on various subleases and financings over the course of 2013. Other clients included Kirloskar Industries on aircraft leasing and acquisition deals, and the International Air Transport Association on the restructuring of its operations in India.
Serum International, Elder Pharmaceuticals and Thomas Cook (India) have all turned to the firm for banking and finance advice over the past year, while other interesting engagements include advising Somaiya Group on private equity investments of its chemicals business, acting for Poonawalla Group on acquiring a strategic stake in realty companies in Mumbai and Pune, and representing Dodsal Group on its participation as an EPC contractor in nuclear power projects in Gujarat.