Phoenix Legal advised old-client real estate company Ramprastha group in Cyprus-incorporated investor Clearwater Capital Partners’ (CCP) Rs 100 crore ($18m) investment into it. CCP was advised by J Sagar Associates (JSA).
It is understood that Phoenix Legal Delhi partner Saket Shukla with counsel Kartikeya Singh and associate Pooja Singhania acted for Ramprastha whose 600-acre township in Gurgaon received CCP’s infusion.
Shukla, with former Phoenix Legal senior associate Arun Madhu had advised in 2011 on India Property Fund’s Rs 120 crore investment into Ramprastha’s housing project Skyz – which is part of the Gurgaon township. Madhu left Phoenix in July 2012 to join a venture capital fund.
JSA Gurgaon partner Devyanshu Pandey with senior associate Arpita Garg and associate Udhav Gulati acted for CCP whose target sectors include real estate, hospitality, transport and logistics, and basic industries.
CCP, whose investment will be in the form of debt, according to Indian Realty News has a 10-year track record of investing in credit and special situations in Asia.