Two offices of AZB & Partners acted on opposite sides of a Chinese Wall for private equity investor Matrix India and gold loan company Muthoot Finance in a 4 per cent investment totalling Rs 157 crore with Luthra & Luthra advising second investor Baring Private Equity Partners India.

AZB Bangalore partner Srinath Dasari and associate Nanditha Gopal led the team for the company Muthoot Finance, which is India's largest gold lending company and has achieved a $1bn valuation with this deal claimed the company's executive director.

AZB Mumbai partner Abhijit Joshi led the team for Matrix India, which together with Baring Private Equity bought 4 per cent in Muthoot.

Baring was advised by Luthra & Luthra Delhi partner Sundeep Dudeja and senior associate Tanmay Amar.

It is understood that both AZB offices were operating behind Chinese Walls with the full consent of the private equity investor and the company because the deal involved a small, non-strategic stake and both parties wanted to get the deal done without a potential for major conflicts.

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