Law firms
Private equity / VC
“Private equity firm IDFC Alternatives has invested Rs 75 crore ($11 million) for a minority stake in ASG Eye Hospitals,” reported VCCircle.
Litigation
The Supreme Court directed the Punjab State Power Corporation (PSPCL) to pay Rs 1100 crores as refund to L&T subsidiary Nabha Power (NPL), relieving NPL from a potential loss of Rs 8000 crore over the next 22 years.
Projects
AZB & Partners partner Gautam Saha and partner Pallavi Meena, with associates Pragya Sood and Ayan Das have acted for Overseas Private Investment Corporation (OPIC).
Corporate M&A
Zee Entertainment Enterprises Limited (ZEEL) aquired 100% in 9X Media Private Limited (and its subsidiaries) from Rivendell PE LLC / New Silk Route Partners and other shareholders of 9x Media Private Limited. The deal was valued at Rs 160 crore, reported VC Circle and others.
Corporate M&A
Massive Vodafone-IDEA merger continues causing quakes in league tables half a year after having been announced...
Law firms
The Bar Council of India (BCI) appeal against the AK Balaji judgment of the Madras high court against 31 foreign law firms has been tentatively scheduled to finally happen on 20 November 2017, with the Supreme Court registry giving the green light in a 3 October order (see below), noting that all defects in service had now been cured.
Corporate M&A
One does wonder whether all the Playboy publicity generated by Hefner’s death late last month would have positively affected valuations...
Corporate M&A
Hyderabad-based Itelligence India Software Solutions Private Limited, a subsidiary of Germany’s itelligence AG, acquired 100% of Hyderabad-based Vcentric Technologies Private Limited for an undisclosed amount. Vcentric had revenues of around Rs 72 crore and profits of Rs 1.59 crore in 2015-16, according to VCCircle.
Law firms
Juris Corp has hired J Sagar Associates (JSA) principal associate Pratish Kumar as a partner in its finance practice in Mumbai.
Law firms
Lakshmikumaran & Sridharan (LKS) equity partner of 17 years S Seetharaman left the firm today to pursue other interests while continuing to practise independently.
Law firms
Trilegal has voted to admit into its all-equity partnership counsel Ramakant Rai in its corporate practice and Nayantara Nag in the projects practice, effective 1 October.
Law firms
Advaita Legal, the best friend law firm of Big Four consultancy KPMG, has hired Atul Dua, the erstwhile co-founding partner of Seth Dua & Associates.
Law firms
Shardul Amarchand Mangaldas has promoted 11 of its fee-earners to salaried partner level, with the majority of promotions taking place in the corporate practice.