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13 December 2012
Corporate M&A

Amarchand Mangaldas, with Jones Day, advised healthcare BPO Apollo Health Street (AHSL) and its promoters in selling out for Rs 1000 crore ($184m) to US-headquartered BPO Sutherland Global Services (SGS). SGS was advised by S&R Associates and Latham & Watkins.

Amarchand Mangaldas Mumbai managing partner Cyril Shroff with Bangalore corporate partner Reeba Chacko, and Jones Day Ohio counsel Deepak Reddy acted for AHSL and its shareholders Apollo Hospitals, Maxwell, Eliza Holdings and Healthcare Investments.

Apollo Hospitals holds 40 per cent in AHSL and the rest of the shareholders are private equity investors. AHSL has 150 clients in India, according to Reuters.

S&R Associates Delhi partners Rajat Sethi and Venkatesh Vijayaraghavan, with associates Radhika Iyer, Dhruv Nath, Radhika Agrawal and Lakshmi Pradeep, and Latham & Watkins Silicon Valley partner Tony Richmond acted for SGS, which belongs to multinational conglomerate Sutherland group.

SGS is one of the largest independent BPOs in the world with over 30,000 employees globally, according to the DNA.

Sutherland outbid BPO Genpact to buy AHSL, reported The Hindu.

12 December 2012
Law firms

Gajendra MaheshwariExclusive: Former Ernst & Young (E&Y) associate director Gajendra Maheshwari and manager Rajat Bose started up tax and disputes boutique Reina Legal on 1 December in Gurgaon, after hiring seven associates including a mix of chartered accountants (CA) and lawyers.

11 December 2012
Corporate M&A

chemistry Chennai-based start-up Vichar Partners has advised Sree Ramcides Chemicals on its Yen 1,495 million (Rs 98 crore) acquisition by Japanese company SDS Biotech KK, which was advised by Alliance Legal and Jones Day.

11 December 2012
Law firms

London-headquartered firm Clifford Chance has entered into a Formal Law Alliance (FLA) in Singapore with newly-founded litigation boutique Cavenagh Law, under the Singapore government's new structure for international firms to operate in Singapore and offer local law advice.

The boutique firm was set up by three lawyers from Singaporean law firm Wong Partnership and will be able to share up to 33 per cent of its profits with its international alliance firm with the recently expanded FLA structure. [The Lawyer]

Clifford Chance was previously in a joint law venture (JLV) alliance with WongPartnership in Singapore for six years and in a best friendship with AZB & Partners in India until early 2011.

11 December 2012
Corporate M&A

PXV Law Partners advised its old client Aurora Integrated Systems and its promoters in selling out to Tata group’s Tata Advanced Systems (TASL) which was advised by AZB & Partners.

PXV Law Partners partners Deepto Roy and Pingal Khan with associate Namritha Joseph acted for the Bangalore-based Aurora which claims to be India’s leading system integrator offering field tested UAS technology. It started up in March 2011, backed by the Tata group.

AZB & Partners Bangalore partners Vivek Bajaj and Niyatha Srinivasa with associate Vydyanathan L acted for TASL which is the wholly owned aircraft and defense systems subsidiary of Tata Sons.

10 December 2012
Corporate M&A

clip_image001[5]Khaitan & Co, with Herbert Smith Freehills, advised the Japanese Otsuka Pharmaceutical Factory (OPF), in co-investing Rs 1050 crore ($193m) in Indian pharma company Claris Lifesciences, to form a joint venture (JV). Claris was advised by AZB & Partners. Japan’s Mitsui & Co, advised by Amarchand Mangladas, was the other investor.

04 December 2012
Deals in brief

The rest of the week's deals in one packageThis week’s instructions starring: Amarchand Mangaldas, AZB & Partners, Khaitan & Co, Vaish Associates, Talwar Thakore & Associates, Desai & Diwanji and Khaitan Sud & partners, with Linklaters, Cleary Gotlieb and WongPartnership

04 December 2012
Legal Process Outsourcing (LPO)

Legal Process Outsourcing (LPO) company Pangea 3 co-founders Sanjay Kamlani and David Perla exited Pangea3 last month, as was agreed in its $40m acquisition by Thomson Reuters two years ago. Leaving the industry after a decade of pioneering it, Kamlani and Perla were among the first to encourage US law firms to outsource their work to Indian LPOs.

Plans for their next venture focus on India’s 40 million contract labourers, who perform peon jobs. Kamlani says that the both of them are looking to change the trend where such workers do not get full-time employee benefits despite working at the same office for years on end. [American Lawyer]

04 December 2012
Law firms

Break up Exclusive: Alliance Legal, which was set up in Mumbai 15 months ago by partners and a senior lawyer from AZB & Partners, J Sagar Associates (JSA) and Talwar Thakore Associates (TTA), is breaking up, and co-founder Vishnu Jerome is in advanced talks to start a Mumbai office for Bangalore firm Poovayya & Co.

01 December 2012
Corporate M&A

Cinema Amarchand Mangaldas Delhi advised cinema chain PVR, which is buying rival chain Cinemax India by acquiring shares from the promoter – who are advised by Wadia Ghandy - and a subsequent open offer valued at around Rs 540 crore ($100m).

30 November 2012
Deals in brief

image Khaitan & Co, Amarchand Mangaldas, J Sagar Associates (JSA), Naik Naik & Co, ALMT Legal, PRA Law Offices and Vaish Associates on some of the week’s top deals.

29 November 2012
Law firms

Benson: Moving to the action Dorsey & Whitney London special counsel Jamie Benson, who has played a key role in several of the firm’s Indian capital markets transactions, has moved to the Singapore office of US law firm Duane Morris & Selvam to co-head its India practice.

Benson, who specialises in US securities and capital markets law, said: “It will be much easier to run my India practice from Singapore compared with London. Also, if you are serious about servicing Indian clients I think you need to be in Singapore.”

The India group at the 700-lawyer firm with more than 20 offices, the majority of which are in the US, is co-headed by funds and private equity partner Parikhit Sarma and M&A partner Krishna Ramachandra.

26 November 2012
Law firms

Exclusive: Khaitan & Co Mumbai counsel Mukund Puranik and senior associate Atman Desai will be joining Amarchand Mangaldas as principal associate in corporate and senior associate in the projects team respectively.

Puranik was the first to have been promoted into the new counsel alternative to partnership during Khaitan’s partner promotion round in 2011, reported legal website Bar & Bench at the time.

Puranik, who became a lawyer in around 1997 and also holds an LLM, and Desai, who has been with Khaitan for four years after completing his LLB at MSU Baroda, company secretarial qualification, and Australian LLM in 2007, were not reachable for comment.

Amarchand Mumbai partner Vandana Shroff confirmed that they would join, and added that the office had recruited at least 12 lateral hires since January.

Khaitan & Co Mumbai partner Rabindra Jhunjhunwala commented: “We wish them well in their new endeavour.”

23 November 2012
Corporate M&A

Fox Mandal advised Japanese tourism and logistics company Nissin Corporation in buying 44 per cent stake in its Indo-Japanese joint venture (JV) Nissin ABC Logistics, from JV partner ABC India. Amarchand Mangaldas advised ABC India.

Fox Mandal Kolkata partner Shourya Mandal acted for Nissin Corporation.

Amarchand Mangaldas Delhi partner Kalpataru Tripathy with principal associate Abhishek Guha, senior associate Saurya Bhattacharya and associate Roopal Banthia acted for ABC India.

22 November 2012
Deals in brief

imageSupporting cast: Yash Raj Films, Gruner+Jahr, MakeMytrip, DLF, Tata, Fidelity, CESC, IFC, Bharat Petroleum, Indian Oil, Wells Fargo, Newscorp, CEAT, Dhunseri, Everstone, Mayfield, Linde, GTL, Sintex, Mahindra & Mahindra, DISA. Starring: Amarchand Mangaldas, JSA, AZB, Indus, HSA, Naik, Khaitan & Co and international talent.

21 November 2012
Law firms

Ajit Mishra The founding partner of FoxMandal’s London office, who resigned in September, will set up his own firm in the New Year in an alliance with UK firm Wragge & Co.