Saket Shukla

Co-founding Partner
New Delhi

Very pragmatic, solution-oriented and demonstrates the ability to meet clients' requirements' and is 'particularly adept at handling project-related transactions.

Saket specializes in strategic advisory work, high-end complex transactions and dispute resolution advisory cutting across various sectors, including infrastructure, mining and resources, oil and gas, construction, insurance, broadcasting, telecom, employment, real estate, internal investigations and hospitality. He is also adept at crisis management and has been recognised by numerous clients for his solution-oriented approach.

With nearly three decades of experience, Saket has handled intricate strategic advisory, transactional, litigation and projects work, representing investors, targets and various project participants. He has also regularly been representing clients on their India strategy from inception to exit, including through restructurings and high value acrimonious exits, after successfully navigating through the complexities involved in the Indian regulatory framework and enforcement actions. Saket's clients include major international investors, multilateral agencies, promoter groups and HNIs.

Saket keenly follows the regulatory environment in India and participates in various policy building measures. He led an initiative with the insurance regulator which ultimately resulted in the regulator issuing guidelines for mergers of general insurers in India. Apart from policy building measures, Saket also has a keen interest in the social sector. He has advised a US Task Force on CSR related issues and a project in eastern India for connecting silk weaving communities with designers and artists-in-residence to match their craft with current fashion. He has also undertaken pro-bono engagements for a leading media organization and a European business chamber in India.

A large Japanese trading company in relation to their strategy to deal with multiple disputes against various Indian companies including: (i) LCIA award in India passed in relation to a high value dispute with an Indian company; (ii) defending criminal proceedings and forcing a settlement through court ongoing quashing proceeding; (iii) initiating various recovery proceedings in relation to purchaser defaults under various supply contracts; (iv) dealing with potential proceedings against the Income Tax authorities to challenge recovery proceedings; and (v) managing indirect tax proceedings involving the client on account of defaults of the Indian entity.
Arnab Goswami on his high profile exit from the Times Group and setting up of a news media venture under the brand name of "Republic TV" including the recent acquisition of shares held by Asianet News Media and Entertainment Private Limited in ARG Outlier Media Asianet News Private Limited; and (b) setting up of operations and business of different channels of Republic TV and their offices.
Apis Partners, a leading private equity asset manager focused on financial services in growth markets, on its acquisition of a significant minority stake in Star Health & Allied Insurance Co. Ltd.
Navis Capital on its exit from Classic Stripes Private Limited (CSPL) and simultaneous acquisition of US and Indonesian subsidiaries of CSPL.
A leading Japanese trading company, on its complete exit from an Indian joint venture engaged in the development and operation of industrial parks and leasing of industrial facilities, involving the sale of its 34% stake to the other joint venture partner.
F & B Asia Ventures (Singapore) Pte Limited, a division of private equity Everstone Capital on its acquisition of majority stake in Massive Restaurants Private Limited, which runs the Indian-themed Masala Library, Made in Punjab and Farzi Cafe chain of restaurants and cafes.
An infrastructure fund of the IDFC group on its acquisition of 26% stake in Delhi Cargo Service Center Private Limited (leading cargo service operator at the Delhi Airport).
Leighton Welspun Contractors Pvt. Ltd. a leading construction, mining and project development group, in connection with their participation in bidding for several engineering, construction and procurement contracts for development of various projects including railway lines, real estate projects and port/marine projects and advising on various existing contracts of the group in India (e.g., Chenani Nashri, ONGC, DLF etc.).
A leading steel manufacturer on bid issues relating to the allotment of a captive coal mine following the new rules for allocation of coal mines after the cancellation of all coal blocks allocations by the Supreme Court. Advisory included post award issues and navigating through various regulatory hurdles.
Accor and InterGlobe Enterprises Limited on grant of concession by Delhi International Airport Private Limited, for construction of hotels in certain areas around the Delhi International Airport and in the process reviewing and negotiating the concession agreements leading to their signing.

Legal500 2026: Ranked as a Recommended Lawyer for Corporate and M&A, Restructuring & Insolvency, Projects & Energy, PE funds, Real Estate & Constructions, DR: Litigation.
Indian Business Law Journal 2026: Featured in “The A-List: India’s Top 100 Lawyers”.
Chambers Asia Pacific 2026: Ranked as a Leading Lawyer for Corporate and M&A.
IFLR1000 2025: Recognised as a Highly Regarded lawyer across multiple practice areas, including Energy & Infrastructure, M&A, Project Development, Restructuring and Insolvency, Construction and Materials, Energy, Insurance, Mining, and Oil & Gas.
Asialaw 2025: Recognised as a Notable Practitioner in Energy, Infrastructure.
Lexology Index: Energy 2025- Recognised as a Recommended Lawyer for Oil & Gas practice areas.
IFLR1000 2024: Recognised as a “Highly Regarded lawyer” for M&A, Project Development, Energy, Restructuring & Insolvency, Construction & Materials, Insurance, and Mining Oil & Gas.
Asialaw Leading Lawyers (2024-2023-2022): “Notable Practitioner” in Energy & Infrastructure.
WWL: Energy, Oil & Gas and Insurance/Reinsurance 2024: Recognised as the “highest-ranked” lawyer in these sectors.
IFLR1000(2021–2023): Consistently ranked as a “Highly Regarded” lawyer across multiple practice areas, including M&A, Energy, and Infrastructure, Project development, Restructuring and Insolvency, Construction and materials, Energy, Insurance, Mining, Oil and gas.
LawWiser’s Lawyers Power League 2023: Recognised among the 100 Leading Law Firm Professionals.
Who's Who Legal 2023: Recognised as “Leading practitioner” in energy.
Asian Legal Business recognised as one of the ALB India Super 50 Lawyers 2021.
Chambers Asia-Pacific has recognised as a leading lawyer in the Projects, Infrastructure & Energy.
Asialaw has listed him as a “Market-leading lawyer” for Corporate/M&A.

Testimonials:

Chambers & Partners:

Chambers & Partners Asia-Pacific 2026: Saket Shukla: A very experienced operator who delivers excellent work products for clients.
Chambers & Partners Asia-Pacific 2026: Saket Shukla brings sharp legal insight coupled with a pragmatic business-focused approach. His ability to navigate complex issues and drive efficient outcomes makes him a trusted adviser.
Chambers & Partners quotes, a client who praise his ability to ‘understand what I am asking for and translate that into simple advice that I can immediately use’.
Saket is ‘very pragmatic, solution-oriented and demonstrates the ability to meet clients’ requirements’ and is ‘particularly adept at handling project-related transactions.
“Saket is an excellent attorney with a strong commercial mindset.” – Corporate/M&A.

Legal500:

“Saket Shukla is brilliant, razor-sharp, and hands-on. He knows exactly what clients want and has the innate ability to navigate the myriad of Indian laws with consummate ease.” – Corporate/M&A.
Saket Shukla stands out in his ability to put a team together to deal with the matter at hand from within and outside his organization. The teams he has created to deal with our matter have included people from Phoenix and outside to form a complete and diverse set who would be best for the task at hand. His and his team’s alertness and accessibility stand out- Corporate M&A.
‘Saket Shukla has been an outstanding advisor and expert on media policy and legal repercussions of news reporting. He has been quick to respond and dealt with the intimidation and lawsuits that come our way expertly and effectively.’- Corporate M&A.
‘Saket Shukla manage good turnaround time for client queries.’ Real estate and Constructions.
‘Saket Shukla is absolutely excellent.‘ Labour and employment.
‘Saket Shukla manages the whole operation. He is the go-to.’ Dispute Resolution, Litigation.
Saket has ‘a great ability to see the bigger picture and solve problems while keeping the legal constraints in mind’.
‘Mr. Shukla gives excellent, sound, balanced advice on insurance, JVs and corporate matters’ and ‘is willing to advise and doesn’t sit on the fence’.
Saket Shukla has an understanding of the business side of the transaction so that a workable and balanced agreement is negotiated’ and ‘gives excellent, sound, balanced advice on insurance, JVs and corporate matters.

Asialaw:

Saket Shukla is one of the best transactional lawyers in India and is our go-to lawyer for all cross-border, high-end private equity investments and divestments. He is razor sharp, a natural problem solver who is very sensible and knows what clients want. Saket is a pleasure to work with. We appreciate his accessibility and resolution of queries.
Saket Shukla is our go-to partner for India M&A and private equity transactions and is brilliant. He is highly respected for his formidable expertise, acuity and ability to help clients navigate complex cross-border transactions.”
Saket is a corporate partner at Phoenix Legal specializing in M&A, private equity and foreign investment related matters. He has impressed us with his first-class advice and service and his solutions-oriented approach in dealing with thorny issues in a methodical and calm manner. He is a pleasure to work with.”
Saket is a corporate partner specialising in M&A, private equity and foreign investment related matters. He has impressed me with his first-class advice and service, and his solution-oriented approach in dealing with thorny issues in a methodical and calm manner. He is a pleasure to work with.”

IFLR1000 2021:

“Partner always gives good and practical advice. Moreover, they well listened to our request and made best effort to achieve it” And “provides professional assessment of the situation and recommends next steps.”

Who’s Who Legal says:

Saket Shukla is a pre‐eminent name in the Indian insurance and reinsurance field, with a wealth of knowledge on distribution advisory work and joint ventures.
Saket’s expertise in Insurance & Reinsurance and Project Finance and reports that ‘Saket Shukla is an ‘esteemed’ name in insurance in India, and is considered by his clients to be ‘invaluable’.
WWL: Thought Leaders India which recognises a few Indian lawyers who are “worthy of special mention owing not only to their expertise and experience advising on significant and cutting-edge matters, but also their ability to innovate and inspire”.
Honoured as a Thought Leader and recognized as a Recommended Global Leader (Insurance & Reinsurance) by WWL for 2019 rankings, Saket Shukla has been quoted as “a prominent name in the Indian market and an expert in transactional and regulatory insurance and reinsurance.” Also quoted for 2020 as “an esteemed figure in insurance law and lauded for his deep knowledge of related regulation.” Read the full interview here.

Saket has authored a number of articles which have been published by reputed publications which may be accessed here.

Member- Bar Council of Delhi.