Litigation & competition
The Bombay high court ordered Sohail Maklai Entertainment (SME) - the producer of Bollywood film Knockout, to deposit Rs 1.5 crore ($275,760) with the court for copyright infringement of Hollywood producers 20th Century Fox’s movie Phonebooth. SME was also prohibited from exploiting Knockout in any manner whatsoever after 5 March 2013 [Mid-Day]
20th Century Fox: Neolegal Associates founding partner Xerxes Ranina assisted by Bhavna Shinde, Ravina Rajpal and Jahnvi Shah
SME: Ashok Purohit & Co founder Ashok Purohit
The Competition Commission of India approved the formation of IC Media Dsitribution Services – the 26:74 per cent joint venture of Disney group’s UTV Global Broadcasting (UGB) and Network 18 group’s IndiaCast [Mint]
UGB and IndiaCast: Dhall Law Chambers founder Vinod Dhall with associates Sonam Mathur and Kabya Chaharia
Capital markets
India’s apex housing finance bank National Housing Bank (NHB) made a Rs 3,750 crore public issue of secured redeemable non-convertible tax free bonds. Kotak Investment Banking, Axis Capital, ICICI Securities, and SBI Capital Markets were the lead managers to the issue [Money Control]
NHB: Dhir & Dhir Associates managing partner Alok Dhir, partner Jay Cheema and principal associate Girish Rawat
Corporate / M&A
Japanese refrigeration company Hoshizaki Electric Co bought Western Refrigeration, which makes cold storage bottle showcases and stockers, via a private placement of 50.01 per cent of shares in January, which will eventually lead to a full acquisition [Reuters]
Hoshizaki: Khaitan & Co Mumbai partner Zakir Merchant assisted by partner Vaishali Sharma, with competition law counsel Avaantika Kakkar.
Western Refrigeration: Wadia Ghandy Mumbai partner Farnawaz Mistry
Finance & banking
HDFC Bank’s Bahrain Branch granted a term loan to finance the acquisition of BITS Pilani FZ LLC by Birla Institute of Technology and Science Company India
HDFC: Khaitan & Co Mumbai partner Shishir Mehta, Hadef & Partners partner Alan Rodgers on United Arab Emirates (UAE) law and TLT Solicitors partner Richard Mcbride on English law.
Moser Baer India obtained financial assistance from 14 corporate debt restructuring (CDR) lender banks for restructuring its existing facilities valued at 2,383 crore
CDR Lenders: Chitale & Chitale partners KA Sivaram and Abhishake Sinha
Please send your latest deal updates to . A one-liner email will do, exclusive news always preferred.
Reported last week on Legally India:
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1. Is this a final order in a copyright infringement suit? As far as I remember, the order to deposit money into court, pending suit, was passed sometime in 2010 (prior to the release of the film, Knockout). Why then has this been restated? Any clue?
2. Wasn't Naik acting for SME in the earlier 2010 order? Was this Ashok Purohit & Co. along with Naik? Who were the counsels that argued the matter?
Sorry, I'm asking questions to which you may not have the answers. Just curious, I suppose :)
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