ASHISH PRASAD

Ashish Prasad is the Founder & Managing Partner of Acara Law and specialises in Risk Management, Dispute Resolution & Commercial Litigation.

 

“He (Ashish) is a very able leader who works hard with the team” is how some people describe Ashish. Others commend him for his ‘detail-oriented’ advice ‘very hands on’ approach and ‘highly commercial and practical’ and ‘innovative solutions’. Most are drawn to him for his warmth and ability to connect.

 

Ashish specialises in Risk Management and Mitigation.  He practices Civil and Commercial Laws, Regulatory laws including laws relating to Securities, Electricity, Environment, Mining, Energy and Infrastructure, Drugs and Cosmetics, Food, Bankruptcy, Intellectual Property, Media and Telecommunication and Arbitration.

 

Ashish firmly believes that every dispute presents multiple opportunities for effective resolution and regularly counsels his clients on mitigation strategies.

 

Ashish regularly appears before the Hon’ble Supreme Court of India, various High Courts of India, Tribunals including TDSAT, NCLT/NCLAT, DRT, APTEL and various SERCs and Arbitral Tribunals.

Prior to founding Acara Law, Ashish was a Partner at Lall & Sethi and Luthra & Luthra and a Senior Partner at ELP.

 

Ashish is admitted to the Bar in New Delhi.

 

In a career spanning 20+ years, Ashish has Done & Doing:

• ​Challenged fraudulent initiation of CIRP proceedings against Hirakud Industries Ltd by one of its own group companies to avoid workmen dues. The NCLAT has rendered a landmark judgment on powers under Section 65 IBC and has set aside the CIRP proceedings.

• Advising and representing one of two of India’s largest cement manufacturing companies in an arbitration resulting from transfer of assets under a Scheme sanctioned under the Companies Act.

• Advising and representing independent directors in relation to asset freeze order passed by courts in relation to ILFS and Firestar International (Nirav Modi companies).

• Successfully represented a leading cement manufacturing company before the High Court of Orissa and Supreme Court in a challenge to denial of financial incentives under the State Industrial Policies.

• Handling IBC issues before Hon’ble Supreme Court, NCLTs and NCLAT and rendering strategic advice.

• Assisted one of the leading breweries in action relating to corruption/white collar crimes.

• Advising and handling international arbitration relating to disputes in infrastructure projects as also shareholders’ disputes.

• Advised and representing DFCCIL in FIDIC based ICC arbitrations.

• Advising and representing power generating companies before SERC, APTEL and SC.

• Advised and representing L&T in arbitrations.

• Advised and represented in shareholders disputes

• Representing Prior Allottees as well as Successful Bidders before the Mines Tribunals and various High Courts in matters involving claims for compensation payable to Prior Allottee of de-allocated coal blocks under the CMSP Act, 2015.

• Securities litigation including disciplinary action for SEBI and NSE Clearing Limited before SAT and Hon’ble Supreme Court in wake of the orders passed in ILFS matter.

• Advised clients on myriad issues (FM, NPA Employment/PF related) arising due to change in law and government notifications enforcing lockdown during Covid 19.

• Assisted hospitality and real estate industry in strategizing their responses to banks during the downturn in business due to Covid 19.

• Successfully mitigated damage/claims arising out of crop failure/farmers claims due to alleged insecticide-failure for a leading science-based company.

•  Successfully led the FOPE/IDMA/CIPI – Associations in their challenge to the ban on Fixed Dose Combinations before Delhi High Court.

• Advising Pharmaceutical and Food companies on regulatory issues.

• Defended first approval for a biosimilar cancer drug in India and strategy for timely launch of the drug. Advised several other drug companies in defending their biosimilar approvals before Courts.

• Successfully challenged the issue of Product Approval (proprietary food) up until the Supreme Court of India.

• Advising a leading telecom company in AGR/OTSC related issues

• Advised leading technology-based companies under Data Protection Laws – laying down the compliance protocol, OSP registrations, net neutrality.

• Represented one of the leading Telecom operators in issues arising out of cancellation of its Unified Access Service Licenses (2G Spectrum case) including representing the Company in allegations of wrongdoings before Special 2G Court and other legal (contractual as well as regulatory) actions pending before various courts and Tribunals across India.

• Advised on key regulatory changes in Telecom Sector in relation to arrangement/ agreements with other telecom operators for offering roaming services and interconnection services and executing urgent actions in relation to government’s orders against a leading Telecom company with regard to issues relating to liberalization of Spectrum and roaming arrangements.

• Represented a well-known media house in a dispute relating to Media Rights License Agreement(s) in relation to a game of national importance.

• Advised a leading sports association in relation to its constitution and interplay with the Indian Sports Code, elections and development of sports in India.

• Successfully obtained non- compete injunction in a dispute arising out of joint venture agreement between and Indian and a Swiss company.

• Represented one of the largest bottlers for leading soft drink manufacturer before National Green Tribunal against a factory closure notice.

• Successfully obtained anti-arbitration injunctions in a dispute between two foreign entities.

• Strategizing and executing IP enforcement actions for major pharmaceutical companies.

• Advised India’s premier news agency in protection and enforcement of its Intellectual Property Rights –Copyrights in news items.

• Advising in defamation proceedings in India/UK on behalf of the promoters of a leading media house.

• Multi-jurisdictional (Trans-Border litigation) dispute in relation to Patent Licenses Agreements.

Education

• LL.B, Delhi University

• B. Com. Hons, Delhi University

• Diploma in Intellectual Property law from World Intellectual Property Organization (WIPO)

• Diploma in Cyber Laws from Indian Law Institute, New Delhi.

 

Membership

• Supreme Court Bar Association

• Delhi High Court Bar Association ​

 

 

 

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