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Verus powers $40m Suzlon wind farm sale opposite Desai & Diwanji, from bigger office

Parikh: Energetic and booming
Parikh: Energetic and booming
Verus advised India-based leading global wind-power company and longstanding client Suzlon Energy (Suzlon) in the Rs 160 crore ($40m) sale of its 58 MW wind-farm Suzlon Engitech to an undisclosed purchaser, which was advised by Desai & Diwanji.

Verus partner Jay Parikh acted for Suzlon which is understood to have frequently instructed the firm on its corporate finance matters previously. It is understood that Verus acted for Suzlon in the later stages of this deal.

Parikh and Verus partner Dipankar Bandopahyay's relationship with Suzlon is understood to date back to their association with Bharucha & Partners, when they had acted for the company on its $2.5bn debt restructuring.

Desai & Diwanji partner Monika Deshmukh acted for the purchaser and negotiated and drafted the transaction documents with Suzlon's in-house team.

The all-NUJS start-up Verus, now a-year-and-half into operation, rented bigger offices in Fort, Mumbai and East of Kailash, Delhi, three months after expanding its equity partnership to five.

Parikh told Legally India that the firm shifted into the new space in Mumbai one month ago, while the Delhi space has been functional for around two weeks.

The Mumbai office has 1100 sq ft of space for around 27 professionals, while the Delhi office can accommodate 10 more, in its 1000 sq ft with an option to expand to 2200 sq ft. Both offices house seven lawyers at present, with one more associate level position created in Mumbai.

“Bombay is developing really well,” said Parikh adding that the firm hopes to similarly grow its corporate transactions practice in Delhi.

[Editorial note: This story was edited to hide the identity of the purchaser owing to client confidentiality obligations]

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