Law firms

IndusLaw advised the founders of Redbus and its early investors Helion, Inventus and Seed Fund, in selling out the online bus-ticketing service for $100m (Rs 597 crore) to the Ibibo Group, which is a joint venture of South African Media giant Naspers and Chinese internet company Tencent.

Amarchand Mumbai partners Vandana Shroff and Ajay Joseph acted for the Ibibo Group, which owns online travel aggregators Goibibo and TravelBoutiqueOnline.

IndusLaw Bangalore partner Suneeth Katarki with associates Basava Rao, Rashi Saraf, and Sherill Pal acted for the Bangalore-based Pilani Softlabs’ founders Phanindra Sama and Charan Padmaraju and the other investors in the buy-out of the seven-year old company.

In 2012 RedBus earned Rs 350 crore selling tickets over Rs 600 crore on more than 10,000 bus routes, according to Mint.

Amarchand Mangaldas advised State Bank of India (SBI), SBI Trustee and SBI AMC in buying Japan’s second-largest brokerage group Daiwa Security Group’s Daiwa Mutual Fund. Daiwa was advised by AZB & Partners. SBI will buy the Japanese fund for more than Rs 1.3 crore ($220,000), reports Mint.

Amarchand Mangaldas Mumbai corporate partners Ashwath Rau and Aysswarya Murthi acted for the buyers, which will acquire Daiwa’s sponsorship, trusteeship and management.AZB & Partners Mumbai partner Alka Nalavadi and associate Rushabh Maniar acted for Daiwa Asset Management Company’s Indian and Japanese arms and Daiwa Trustee Company.

Daiwai Mutual Fund is selling out to SBI because it wants to cut costs and jobs outside Japan, and because India poses regulatory uncertainties, waning retail investor interest in equity markets, wafer-thin margins and a highly competitive environment, reported the Times of India.

Amarchand Mangaldas Delhi principal associate Kirat Singh Nagra will replace former Economic Laws Practice (ELP) litigation head and partner Tarun Gulati.

Dua Associates advised advertisement seller Amagi Media Labs in its second fundraising round of Rs 27.5 crore ($4.7m) from global venture capital (VC) fund Mayfield FVCI, which was advised by Economic Laws Practice (ELP).

Dua Associates Mumbai partner Vinod Joseph with senior associate Sugandha Kamal and associate Rajat Agarwal acted for Amagi which, according to Medianama, targets city-based advertisers wanting to broadcast ads on TV.

ELP Mumbai partner Yashojit Mitra acted for Mayfield, which has $2.7bn assets under management, according to VCCircle.

Amarchand Mangaldas Mumbai principal associate Satyam Sharat will join Ashurst’s Jakarta office as a foreign legal consultant in a month.

He specialises in banking, having joined Amarchand in 2006 from JurisCorp after graduating from NLIU Bhopal in 2005.

Ashurst India head Richard Gubbins said: “We were looking for a common-law trained associate to assist in dealing with our foreign clients in Indonesia. The fact that Satyam is an Indian national from an Indian law firm is a bonus since Indian investors are quite active in Indonesia. 

“The work that our Jakarta Office  has done for Indian clients includes work for Essar, [TVS Motor Company], airport developers [such as GVK] and mine investors. Satyam will be a great asset for us to attract additional work from India because he comes to us with excellent credentials.”

Luthra & Luthra advised Max India’s year-old subsidiary arm Antara Senior Living in setting up a Dehradun-based living community for senior citizens.

Amarchand Mangaldas Mumbai corporate partners Amita Choudhary and Aysswarya Murthy are set to leave the firm.

J Sagar Associates (JSA) advised Bangalore-based milling machine maker Milltec Group in Mauritian fund Multiples’ buy-out of half its equity for Rs 250 crores ($43.3m). Multiples was advised by Khaitan & Co Bangalore.

JSA partners Sajai Singh and Gerald Manoharan, senior associate Prashant Kumar and associate Roy George acted for Milltec, also advising it on documentation for a Rs 35 crore loan from L&T Finance.

Khaitan & Co Bangalore partner Ganesh Prasad and principal associate Vineet Shingal and associate Sanjay Khan acted for Multiples.

Dua Associates Bangalore partner Srinivas BR acted for the selling shareholders.

Seth Dua & Associates advised Chinese telco ZTE Corporation in filing a winding up petition against Indian phone service provider Loop Mobile in the Bombay high court

Amarchand Delhi, Jones Day Cleveland and Sullivan Cromwell London acted on Gurgaon’s Apollo Tyres $2.5bn takeover of Ohio-based Cooper.

Amarchand Mangaldas is advising publishers of the Hindustan Times HT Media on its Rs 25 crore buyback of 2.05 per cent of its shares, which commenced on 3 June and will be open latest until 13 May 2014.

Amarchand Delhi partner Inder Mohan Singh, principal associate designate Kunal Mehra and senior associate Aayush Kapoor are acting for the media house.

They are advising HT Media on various transaction related issues from time to time and have drafted the public announcement, various notifications with the stock exchanges and the regulator, and documentation, according to a statement from the firm.

Kotak Mahindra Capital Company is the manager to the buyback. Amarchand had acted on the media company’s initial public offering (IPO) in 2005.

Amarchand for Adani Ports, Khaitan & Co and Jones Day step up for the banks.

DMH for YES Bank founder family’s SPV, Kanga for sellers Citi and GSK.

Khaitan & Co promos Abhishek Sharma & Avaantika Kakkar to equity in Mumbai, hires start-up litigator Rahul Sahay in Delhi.

Pramod Rao, the founder partner of IndusLaw’s Mumbai office and former general counsel (GC) of ICICI Bank, will join Citibank India as its GC in July.