Varuna Bhanrale

Education

• BA. LLB. (Hons) from Symbiosis Law School, Pune, India

Admissions

• Bar Council of India in 2013
• Member of the ICDR India Committee

Select representative clients/matters

• Unidata Pte. Ltd. (UPL) and its majority shareholder National Institute of Water and Atmospheric Research Limited (NIWA) against the Ground Water Surveys & Development Agency before the National Consumer Disputes Redressal Commission in relation to breach of contract by an Australian company that had ceased to exist after it underwent voluntary administration proceedings and its assets were purchased by UPL.
• Korean Air before the State Consumer Disputes Redressal Commission (State Consumer Commission), Chennai in an appeal and before District Consumer Disputes Redressal Commission (District Consumer Commission), Chengalpattu in complaint arising from allegations of deficiency in service relating to denial of boarding to passengers travelling to the United States.
• Delta Airlines before the District Consumer Commission, Indore, in a complaint alleging deficiency in service, and seeking reimbursement of expenses, compensation for mental harassment, litigation costs, and interest.
• Bhushan Power and Steel Limited (BPSL), post-acquisition by JSW Steel Ltd., before the?National Company Law Tribunal (NCLT), New Delhi?in multiple applications?under the?Insolvency and Bankruptcy Code, 2016 (Insolvency Code) for initiating corporate insolvency resolution process (CIRP) against certain erstwhile group companies on account of financial debts of ~USD 50 million.
• BPSL in a major corporate fraud proceeding initiated by the Serious Fraud Investigation Office (SFIO) against BPSL’s erstwhile promoters, officers and related companies, before the NCLT, New Delhi. The SFIO has highlighted a financial fraud of ~USD 600 million, and the SFIO and BPSL are seeking disgorgement of assets and reversal of fraudulent transactions.
• Goldman Sachs entities and their personnel in (a) suit proceedings concerning equity investment in BPL Medical Technologies Private Limited, (b) contempt proceedings and (c) related appeals before various courts (including the Supreme Court, Delhi High Court, and Karnataka High Court). The monetary stake involved is ~USD 22 million.
• Pertamina before the National Company Law Appellate Tribunal (NCLAT) in an appeal in the insolvency proceedings of Videocon Industries Limited (VIL), challenging the inclusion of foreign oil and gas assets of VIL’s foreign indirect subsidiary in VIL’s insolvency proceedings under the Insolvency Code.
• Vistra (ITCL) India Limited on intertwined disputes before the Bombay High Court, Debt Recovery Tribunal, Securities Appellate Tribunal and Supreme Court concerning non-payments by Reliance Capital Limited towards certain secured debentures issued by it, and Vistra’s rights over the security interest created in its favor vis-à-vis competing interests of other alleged secured creditors.
• Central Depositories Services (India) Limited (CDSL) against Pushpa Devi Mohta and her family members before the Calcutta High Court in relation to disputes concerning unauthorized and wrongful activities undertaken by the stockbroker-cum-participant, BRH Wealth Kreators Limited.
• Cooperatieve Rabobank UA in connection with the recovery of debt extended to various entities of the Coffee Day group, as well as initiation of CIRP against such entities.
• Ricoh Company Limited on a variety of disputes including a first of its kind petition before National Company Law Tribunal by public shareholders regarding financial mismanagement and for recovery of their investments in a listed Indian subsidiary (Ricoh India Limited), actions against delinquent employees, and insolvency.
• Resolution Professional of Essar Steel India Limited (ESIL) and his advisors, Alvarez and Marsal in interconnected disputes before the Calcutta High Court, Gujarat High Court and NCLT arising from the CIRP of ESIL and concerning one of their kind allegations of liquidation fraud, contempt of court and perjury.
• Noble Resources against Steel Authority of India before High Court of Delhi and Rashtriya Ispat Nigam Limited before Visakhapatnam District Court in relation to disputes concerning torts of interference in contracts with an Indonesian coal mining company.
• Quess Corp and Trimax Smart Infraprojects against Trimax IT Infrastructure & Services Limited in a dispute concerning implementation of an IT services project contracted to Trimax IT and subcontracted to Trimax Smart.
• Bombardier in its disputes with Mumbai Rail Vikas Corporation in certain disputes under contracts for supply of Broad Gauge EMU Rolling Stock on a turn-key basis.
• Hassad Netherlands BV on a variety of issues arising from its investment in India, involving criminal actions in India, insolvency proceedings, financial regulatory issues and shareholder disputes.
• Thomson Reuters India Private Limited before the Delhi High Court in a high-stakes employment dispute involving claims of wrongful termination and substantial back wages.
• Entities of the JSW group, Engie group and Cleantech Solar group in multiple proceedings before Supreme Court, Securities Appellate Tribunal and Recovery Officers under Lodha Committee challenging erroneous encumbrance over their land parcels forming part of various renewable power projects, pursuant to the Pearl Agrotech Corporation Limited’s scam.
• CDC India Opportunities Limited in oppression and mismanagement proceedings before NCLT pursuant to its equity investment in Blue Sapphire Healthcares Private Limited.
• Flo Health (UK) Limited in proceedings concerning accessibility of its digital platforms and mobile applications under the Rights of Persons with Disabilities Act, 2016, before Chief Commissioner for Persons with Disabilities.
• ICICI Bank Limited before the NCLT, New Delhi, in petition seeking initiation of the CIRP against Avantha Holdings Limited pursuant to the latter’s guarantee obligations to fund a Debt Service Reserve Account.
• InCred Value Plus before the NCLT, Mumbai, in a petition seeking CIRP of Atum Capital Private Limited pursuant to the latter’s failure to refund advance payments made by InCred Value Plus for purchase of equity shares of the National Stock Exchange of India Limited.
• S3 Energy Private Limited in its voluntary liquidation, including advising on corporate actions, regulatory compliance, and dissolution proceedings before the NCLT, Prayagraj.

• Official Liquidator of Devas Multimedia Private Limited (Devas) in the much-publicized dispute involving Antrix Corporation Limited (Antrix) and the shareholders of Devas before the Delhi High Court concerning the issue of setting aside of the ICC arbitral award passed in favour of Devas and against Antrix regarding a space and satellite industry contract. Representation in related criminal proceedings.
• CDSL against various investors in arbitrations and arbitration relation proceedings where the investors have sought indemnification under the Depositories Act, 1996 of their losses incurred on account of unauthorized and wrongful activities undertaken by the stockbroker-cum-participant – Anugrah Stock & Broking Private Limited.
• IDFC First Bank before the High Court of Bombay and in arbitration against ASA India International Microfinance Limited (ASAI) pursuant to breaches under a Corporate Business Correspondent Agreement.
• JSC Cryogenmash against Steel Authority of India in an international arbitration governed by the ICC Rules in relation to certain construction disputes.
• Indian subsidiary of a leading American technology and cloud service provider in an arbitration for non-payment of unpaid invoices for the services availed by the counterparty customer.
• WeWork India in an arbitration and mediation before the Karnataka High Court regarding a claim arising from commercial breaches on account of workspace access restrictions and pandemic-related obligations.
• Stemztech Industries Private Limited in an arbitration arising from the supply, installation and commissioning of specialised roll-forming machinery for a railway manufacturing facility, involving claims relating to delayed delivery, defective and incomplete equipment, breach of contractual obligations, and recovery of damages and re-procurement costs.
• A portfolio company of Engie against Evergreen Renewables Private Limited in an arbitration governed by the SIAC Rules in relation to disputes concerning a wind power project.
• A Shriram Group company* in an ICC arbitration against a German bank in relation to disputes arising out of the investment made by the bank in a JV company for a construction project.
• One of the world’s largest oilfield service providers in an international arbitration governed under LCIA Rules against a sub-contractor.
• Radhakrishna Foodland Private Limited in proceedings before Indian courts for interim reliefs under the Arbitration and Conciliation Act, 1996 in connection with disputes under supply contracts with Connaught Plaza Restaurants and McDonalds India.
• A major American technical, professional, and construction service provider against the Government of India, in ad-hoc construction arbitration with multi-crore claims, under the Arbitration and Conciliation Act, 1996.

Recognition

• ‘Future Legal Leader‘ for Anti-Corruption, Anti-Bribery, Arbitration & ADR, Bankruptcy & Insolvency, Litigation, by India Business Law Journal Awards (IBLJ), 2026
• ‘Future Legal Leader‘ for Commercial and Transactions, by Benchmark Litigation – Asia Pacific, 2026