Mirae Lex Partners derives its names and ethos from Mira variable red giant star in the cetus constellation. Known for rarity, brilliance, and cyclical transformation, Mira serves as metaphor for the firm’s guidance principles: clarity, depth, and strategic foresight. These qualities shape our commitment to delivering precise, forward-looking legal solutions tailored for the fast-evolving financial services landscape.
As a boutique law firm focused on the financial services sector, Mirae Lex Partners delivers specialized legal expertise in structuring SEBI and IFSCA regulated investment products. Our services encompass drafting essential legal documentation, securing regulatory approvals, ensuring ongoing compliance, optimizing investment structures, and resolving disputes. Guided by a commitment to precision, integrity, and alignment with client goals, we collaborate with financial institutions, asset managers, and advisory firms to help them navigate complex regulatory environments with clarity and confidence.
Vidya Phanse is a dual-qualified Chartered Accountant and Advocate with over extensive years of experience in advising clients across the investment fund ecosystem, including alternative investment funds (AIFs), mutual funds, offshore structures, portfolio management, and investment advisory services. Her practice is distinguished by its depth in regulatory strategy, fund documentation, and tax structuring, with a strong track record of securing approvals from SEBI, IFSCA, and other regulatory bodies.
She has advised a wide range of fund managers, sponsors, and institutional investors on the formation and operation of privately pooled investment vehicles in India, including venture capital, private equity, credit, and co-investment platforms. Her expertise spans domestic AIFs, IFSC-based funds, and offshore offerings, with hands-on involvement in drafting and negotiating fund documentation, investor side letters, and employee carry structures.
Vidya has played a key role in setting up fund management entities and investment pooling vehicles in the International Financial Services Centre (IFSC), including drafting joint venture agreements, distributor arrangements, and regulatory filings with IFSCA and SEZ authorities. She has also reviewed and contributed to offering memoranda and partnership agreements for U.S. and Mauritius-based funds, authoring the India-specific tax and regulatory chapters.
In the mutual fund space, she has assisted asset managers in securing SEBI licenses and drafting scheme documentation in line with SEBI Mutual Fund Regulations. Her work in portfolio management and investment advisory includes end-to-end support for licensing, regulatory compliance, and documentation under SEBI’s Portfolio Managers and Investment Advisers frameworks.
Beyond fund structuring, Vidya provides general legal advisory on investor communications, marketing materials, due diligence processes, and third-party service provider contracts. She has acted as the primary legal contact for several marquee clients, liaising with internal legal, compliance, and investor relations teams to ensure seamless execution and regulatory alignment.
Her ability to navigate complex regulatory landscapes and deliver strategic outcomes has earned her recognition among clients and peers. She is known for securing time-sensitive approvals from SEBI and IFSCA, often within accelerated timelines, and for her pragmatic approach to legal problem-solving.
Vidya continues to be a trusted advisor to fund managers, institutional investors, and financial intermediaries, contributing to the evolution of India’s investment fund framework through her legal, regulatory, and tax expertise.
Expertise
SEBI and IFSC-Compliant Fund Platforms, Portfolio Manager Licensing, Investment Adviser Licensing, Corporate Law Compliance, and Direct Tax Representation/ Advisory.
Education
Chartered Accountant. LLB (Government Law College, Mumbai University). B. Commerce (Mumbai University)
Professional Affiliations
Bar Council of Maharashtra and Goa. The Institute of Chartered Accountants of India.
We help in structing and establishing a wide range of investment vehicles from domestic SEBI AIFs and mutual funds to
REITs, InvITs, and GIFT City (IFSAC) AIFs.
Our work spans complex fund architectures including feeder, parallel, and co-investment formats, tailored to both
inbound and outbound investment strategies.
We also provide ongoing support on legal and regulatory matters, ensuring smooth operations across governance,
compliance, and reporting obligations.
Our team advises on fundraising strategies and distribution frameworks.
We oversee the entire licensing journey with SEBI and IFSCA, assisting fund managers and intermediaries such as portfolio managers, investment advisers, asset management entity for mutual fund through every step of the approval process.
We prepare and refine all legal documentation related to alternative investment funds, as portfolio managers, investment advisers, asset management entity for mutual fund.
We support investor onboarding by negotiating tailored terms and preparing bespoke side letters that reflect the commercial and strategic priorities of each investor.
Our team represents fund managers through the full spectrum of regulatory interactions from responding to inquiries and inspections to handling enforcement actions, settlement processes, and investor-related disputes.