Law firms

Torrent Pharma, the flagship company of the Torrent Group, have announced their acquisition of the domestic formulations business of Unichem Laboratories, one of India's oldest and largest pharma companies, for about Rs 3,600 crores (around $556m), through a business transfer agreement, as reported by The Economic Times and Business Standard.

Mumbai-based online lending startup Kissht, operated by OnEMi Technology Solutions has raised Rs 67 crore (USD 10 million) led by China’s Fosun International along with existing investors, venture capital firm Endiya Partners and early-stage investor Ventureast, as reported by VC Circle.

Former Nexus Venture Partners vice president legal Harshita Srivastava has joined Nishith Desai Associates (NDA) in Mumbai to head its venture capital (VC) practice.

"The board of Tata Chemicals Ltd has approved the sale of its non-bulk phosphatic business to IRC Agrochemicals for Rs 375 crore," reported Mint.

Luthra & Luthra senior partner Mohit Saraf, who was one of the Indian law firm promoters requesting the commerce ministry in liberalisation negotiations to prevent foreign firms from hiring Indian lawyers, said in an interview with Asia Legal Business that if foreign firms open in India, they would only be with a “very small office”.

“State-owned Andhra Bank has dragged Housing Development & Infrastructure to the National Company Law Tribunal (NCLT) in an insolvency petition because the Mumbai-based real estate developer failed to pay back Rs 55 crore invested by the bank in the company's non-convertible debentures (NCDs),” reported The Economic Times

NCR-based IP boutique firm, Sujata Chaudhri IP Attorneys, has promoted senior associate VC Mathews to associate partner.">

Dutch development bank, FMO has raised close to Rs 200 crore (approximately $30.5 million) in debt through subscription of non-convertible debentures issued by renewable energy firm Azure Power India, as reported by Mint.

“Kotak Realty Fund, a part of Kotak Investment Advisors, has invested Rs. 240 crore in an under-construction shopping mall in Chennai and Rs. 80 crore in an ongoing office project in Mumbai from its $250 million offshore fund,” reported Livemint. Both the deals have been funded through debt financing by the issue of listed, secured, non-convertible, redeemable debentures by C&J Corporate Park, a group entity of National India Bullion Refinery to Kotak Realty.

HSA Advocates partner Ajoy Halder has left the firm last month to set up start-up law firm Halder & Associates in Delhi.

Infradigital Technologies, a company promoted by Eros Labs, is reported to have sold its business undertaking engaged in the business of production and distribution of spiritual, devotional and religious audio-visual content and literature to Innertech Media Solutions, a portfolio company of Times Internet Limited. The business division was transferred as a going concern on a slump sale basis.

The April 2016 merger between Alliance Corporate Lawyers and Dhaval Vussonji & Associates has fallen apart, with the former operating as Alliance Law from 31 October.

Link Legal India Law Services has hired the co-founders of RM Partners, Nikhil Rodrigues and Jyoti Maheshwari, as partners in its Mumbai office.

Fox & Mandal Kolkata - the Kolkata partnership of the Fox Mandal group of three firms - has hired Khaitan & Co Kolkata senior associate Atreyee Sen as a principal associate in its corporate practice.

Luthra & Luthra partner, Pranjal Bora, homegrown at the firm for 15 years, has left the firm, we have learned.

“Mid-market private equity firm Gaja Capital and global PE buyout specialist KKR have jointly led a Rs 980-crore investment in Avendus Capital, as the domestic financial services firm looks to scale up its asset management and newly-launched credit businesses,” reported the Economic Times.