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Amicus start-up advises DMI on Rs 50 crore Burman injection with AZB

AZB & Partners advised the Dabur India promoters, the Burman Family, which picked up around Rs 50 crore ($9m) stake in DMI Finance, which was advised by start-up Amicus Advocates & Solicitors.

AZB partner Hardeep Sachdeva and associate Divyata Budhalakoti acted for the Burmans.

Amicus partner Shivi Agarwal was instructed by DMI, which she and her co-partner Madhav Rastogi had been advising while they were working at Dhir & Dhir, shortly after the company was set up in 2009 by Shivashish Chatterjee and Yuvraj C Singh.

Agarwal explained that Amicus was originally set up in August 2011 by Ashutosh Rastogi, immediately after he quit as of PricewaterhouseCoopers (PwC). “At that time, Amicus was a boutique Transfer Pricing and International Tax Firm. In January 2012, I quit as partner from Dhir & Dhir Associates and joined Amicus to establish its corporate advisory practice. Madhav subsequently joined the firm as a partner in August 2012.”

Amicus was now a firm of eight lawyers, said Madhav Rastogi.

Anmol Nayyar, executive director of the non-banking lender DMI, told VCCircle: “We have more fund raising plans lined up. By end of December, 2013, we would have the ability to lend up to Rs 2,000 crore.” Nayyar is a former lawyer who had practiced as an associate in Ashurst’s India group before returning to India to set up a number of companies.

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