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Rajani Singhania, Tatva sew up surgical company buy by French co

Rajani Singhania & Partners advised surgical sutures maker Stericat Gut Strings on the acquisition of a majority stake in it by French firm Groupe Peters Surgical which was advised by Tatva Legal.

Rajani managing partner Prem Rajani, partner Poorvi Sanjanwala and associates Nishtha Mehta and Kashmira Bakliwal acted for Stericat.

Tatva Delhi partner Simran Singh and lawyer Sumit Khosla acted for Groupe Peters.

The finance ministry rejected the request for approval for the deal on the ground that the acquisition partly involved share swap whereas it had only granted Stericat approval to bring in Rs 43.52 crore of FDI in cash through the sale of 77.5 per cent of its shares to Groupe, reported the PTI.

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