A total number of 27,10,495 companies were registered in the country as of June 30, 2024, of which 64% (17,32,438) were active as per the monthly report issued by the Ministry of Corporate Affairs. The business service sector has the highest activity, and the insurance sector has exhibited the least activity. State-wise, Maharashtra leads the pack with the activity decreasing from the west to the east of India apart from West Bengal. The corporate landscape is continually evolving, influenced by economic reforms, private equity investments, and the rise of startups. This transformation is reshaping how businesses operate and compete in the market.

A crucial aspect of ensuring continuity and managing risks to keep up with the transformations is having the legal compliances up to date. Being in sync with the regulatory environment of the country is essential for the avoidance of mishaps and penal consequences that could range from civil to criminal liability for individuals at the helm of affairs. Understanding corporate law and its various facets and implications enables one to deftly handle such regulatory challenges. Numerous law firms in India offer comprehensive services to ensure holistic risk management and legal compliance for entities across the board.

As a concept, corporate law pertains to the legal implications of multifarious aspects of the functioning of a business and its interaction with varied stakeholders. Although used as a term somewhere in between commercial law and company law, corporate law functionally subsumes myriad legal tasks, including regulatory compliance, due diligence, corporate governance, handling contractual matters, employment related matters, antitrust and competition, banking and finance, investments, mergers and acquisitions, insolvency, intellectual property, environmental compliance, and so on and so forth. Legal services in India pertaining to companies also involve guidance on establishing companies, choosing the appropriate business structure, and complying with regulatory requirements in order to avoid personal liability and separate oneself from the entity to manage risks.

Today, the best law firms in India offer a full spectrum of services to become a one stop solution for companies and have the necessary expertise from operating in various sizes and domains that enable them to take the best practices from one and apply them to the next. For instance, a law firm offering corporate legal services in India as well as working with its nonprofit clients can facilitate the adoption of governance best practices to strengthen the nonprofit’s ability to operate efficiently and transparently. They may assist nonprofits in creating transparent financial reporting structures, akin to corporate audit practices. This includes adopting internal audits, financial disclosures, and regular reporting to donors. Such practices ensure maximization of resources, maintenance of donor confidence, and compliance with regulations. This evidences how law firms in India are well placed to offer cross domain solutions.

Corporate legal services in India also rope in ancillary and novel industries within its fold, such as renewable energy and technology, as well as the evolving laws on insolvency and bankruptcy in India. Although these practices may be stratified for clarity purposes, they essentially fall within the grey area of corporate laws be it documentation for a renewable energy producer or drafting the privacy policy of an e-commerce website. Insolvency and bankruptcy fall under the prosecution side of corporate laws, along with representations at various forums such as the National Company Law Tribunal (NCLT), Registrars of Companies (ROCs), etc., or facilitating alternate modes of dispute resolution such as arbitration or mediation. This is where the line between corporate lawyers and litigating lawyers blurs.

Fox Mandal & Associates LLP is ranked among the best law firms in India by leading legal publications and offers myriad legal services in India, including corporate legal services to sectors ranging from agribusiness to healthcare to startups. The comprehensive range of advisory, liaison and compliance/governance related services operates across the entire spectrum of transactions, from incorporation to dissolution of entities. The corporate practice also carries within its fold antitrust and competition laws, banking and finance, capital markets, REITs and INVITs, family business and commercial laws.