World Bank

  • 27 July 2017

    LLILS, Themis, SAM on $15m 1mg fundraising from HBM Healthcare and others

    "Online pharmacy and healthcare services start-up 1mg Technologies Pvt. Ltd has raised $15 million in a funding round led by global healthcare-focused fund HBM Healthcare Investments AG, to launch predictive healthcare and corporate wellness products. The series C round also saw participation from existing investors Maverick Capital Ventures, Sequoia India, Omidyar Network and Kae Capital," reported Mint.

  • 27 July 2017

    SAM, CAM, D&D, Slaughter, Latham on $325m GE stake sale in SBI

    "Global private equity (PE) firm Carlyle Group has emerged as the front runner for GE Capital Corp’s stake in SBI Card, the credit card joint venture between the US-based company and India’s largest lender State Bank of India (SBI). Carlyle has emerged as the front runner for GE Capital’s stake in SBI Cards for somewhere around $325 million. The board of SBI settled upon the final bidder in a meeting. Carlyle has pipped Warburg Pincus and Credit Saison and emerged as the final bidder though the deal is not closed yet,” reported Mint.

  • 27 July 2017

    As SILF predicts liberalisation will happen any day now, BCI set to meet govt for long overdue talks tomorrow

    The Bar Council of India (BCI) is set to meet the government tomorrow to discuss the new draft rules that will enable the entry of foreign law firms into India, reported The Lawyer (full article requires free registration) adding that the Society of Indian Law Firms (SILF) has already met with its members as a precursor to what SILF called the “inevitable and imminent” opening up of the legal services sector.

  • 27 July 2017

    Samvad adds NLS '05 AOR Arjun Krishnan as Delhi partner

    Samvad Partners added advocate-on-record (AOR) and NLSIU Bangalore 2005 alumnus Arjun Krishnan as a partner in Delhi, effectively from August 2017.

  • 27 July 2017

    DMD, JSA on Roadzen buy of AXA- Assitance India

    Automotive insurtech company Roadzen Inc. has acquired the India operations of assistance services company AXA-Assistance India by acquiring 100% equity stake in AXA Assistance India Private Limited from its sole shareholder Inter Partner Assistance SA in a cross border transaction.

  • 27 July 2017

    US-India Dealmaking: A Look Ahead at M&A, labour and IP laws

    By Joseph J Dehner, Matthew R Schantz, Matthew O WagnerDespite these positive signals, India suffers from a legacy perception of the license Raj. Investors face a host of legal and regulatory risks, including foreign exchange, foreign investment restrictions, and corruption. Foreign investments into India are subject to the FDI Policy of the Government of India and the provisions of the Foreign Exchange Management Act (FEMA).

  • 26 July 2017

    DSK, Trilegal on Global Insurance buy of Aon’s entire 26% stake in Indian insurance broking JV

    Indian insurance company Global Insurance Services Brokers Private Limited and its promoters Prabodh Thakker and Sunita Thakker have acquired the entire stake of 26% of Aon Holdings BV in their Indian insurance JV broking company, Aon Global Insurance Brokers Private Limited, for an undisclosed amount, as reported by The Economic Times and The Insurance Insider. Post the acquisition, the name of the company has been changed to Global Insurance Brokers Private Limited.

  • 26 July 2017

    Khaitan Bangalore partner Abhilekh Verma leaves

    Khaitan & Co Bangalore general corporate and commercial partner Abhilekh Verma is set to leave the firm, after six years with it.

  • 25 July 2017

    India Prepares to Open New Chapter on Taxing Histories

    Yes, the Indian tax structure has all along been very complex and unpredictable owing to a host of factors, such as a multiplicity of taxes, divergent interpretations, the absence of a coherent administrative set-up coupled with unrealistic revenue targets, and a propensity to resort to amendments (including retrospective amendments), by successive governments. In this decade, for foreign investors, the “indirect transfer” of shares case of Vodafone symbolizes all that has been wrong with the Indian tax system. Despite winning at the Supreme Court, the Government in 2012 retrospectively amended the Income Tax Act, 1961 (“IT Act”) to overcome the Supreme Court ruling and to tax indirect transfers involving foreign companies/investors.

  • 25 July 2017

    Mergers & Acquisitions in India

    Despite the progress, there are still quite a few structures which, though common abroad, are difficult to implement in India. A traditional leverage buy-out, which might otherwise seem fairly straightforward, is not permissible under the Indian legal regime. To make a leverage buy-out work, acquirers need to demonstrate an appetite for innovative structures.

  • 25 July 2017

    Taking Control: Shifting Trends in Private Equity Deals

    Traditionally, Indian companies have been a family run affair, with the promoter (founder) shareholders hesitant to lose control over the family business. As a corollary, private equity investments were also conventionally minority investments. But the growth of the Indian economy has given birth to a new generation of entrepreneurs - the executive-turned-entrepreneur as well as those joining the start-up band wagon.

  • 25 July 2017

    Key Issues Facing UK-Indian Businesses: Brexit, new data protection challenges, M&A

    In March this year, the UK government served formal notice under Article 50 of The Treaty on European Union (‘EU’) to terminate the UK’s membership of the EU. This starts a two year notice period, which means the UK’s exit (or ‘Brexit’) will most take effect in March 2019. In the meantime, the UK will seek to negotiate the terms of exit and future trading relationships.

  • 25 July 2017

    Employment Law Issues in India

    Common employment laws issues in India can be divided into two areas: the issues faced by employers and the ones faced by employees, though some of these issues are common to both. We have summarized key employment laws issues which are most common below.

  • 24 July 2017

    After break up with Snapdeal, GC Ashish Chandra joins tinder-like oFish [Update- I] as investor

    Former Snapdeal general counsel Ashish Chandra joined "social connection" app oFish as an investor, less than a month after Snapdeal and Flipkart signed a non-binding letter of intent for a proposed merger.

  • 24 July 2017

    AZB, CAM, Khaitan, Squire, Milbank on $1bn SBI Life Insurance IPO

    "SBI Life Insurance Co. Ltd on Monday filed the draft red herring prospectus for its initial public offering (IPO), joining several other insurance companies headed for the stock market. In an offer for sale, SBI and BNP Paribas will sell 80 million and 40 million shares respectively, amounting to a combined 12% stake. SBI Life is not raising any primary capital. The IPO could see SBI Life raise more than $1 billion (about Rs6,500 crore), a Bloomberg story quoted bankers as saying," reported Mint.

  • 24 July 2017

    The Singapore-India Joint Venture: Truly Symbiotic

    Singapore has proved to be the destination of choice for many Indian corporates doing business overseas, though historically other markets such as London and New York have also had close ties with India. With its highly developed and successful free market economy, low taxation, proximity to the Indian subcontinent, numerous direct flights and sizable Indian population, Singapore’s trade ties with India have flourished.

  • 24 July 2017

    Cloud Computing – Legal and Policy Perspectives

    One of the fundamentals of a good law is that it must lead to adequate compliance by the target citizenry that it seeks to govern. The prerequisite for such compliance includes, but is not limited to, the temporal relevance that it holds in the society. Unless the discourse of law adjusts itself organically to the ever increasing and changing needs of the society, it would be relegated as an anachronism. This holds much more relevance in a dynamic information technology driven society that we are a part of today.

  • 24 July 2017

    NLIU Bhopal investigates ‘challenging’ anonymous online ragging complaint

    NLIU Bhopal is currently investigating complaints of ragging that were registered with the University Grants Commission (UGC), purportedly by first year LLB students of the law school against their seniors, as first reported by the Express.

  • 23 July 2017

    M&A in Russia: Opportunities and Risks in the Current Environment

    The Russian M&A market is recovering. According to Mergermarket, the aggregate deal value of Russian M&A equaled USD35 billion in 2016: there were 172 deals and the average deal size was USD203.5 million. The largest M&A deals involving foreign investors were:

  • 23 July 2017

    Real Estate Laws in India

    The most popular structure is a joint development through the creation of a special purpose vehicle, joint venture or through a development management contract.

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