Amarchand Mangaldas
Vaish Associates advised Jaiprakash Power Ventures (JPVL) in selling its BASPA Hydro Electric Project and its Karcham Wangtoo project to JSW Energy for Rs 9,700 crore.
JSW Energy was advised by Amarchand Mangaldas Mumbai partners L Viswanathan, Tushar Mavani and Ramanuj Kumar and senior associates Prateek Shroff and Abhimanyu Ghosh.
Vaish partner Bomi Daruwala, senior associates Yatin Narang and Shrinivas Sankaran and associates Tanya Sharma and Priyesh Sharma acted for JPVL.
The board of directors of JPVL approved the transfer of the 1391 MW projects into its subsidiary HBPC as a going concern through a scheme of arrangement which would would enable HBPC to be acquired by JSW Energy, reported The Hindu.
Senior counsel Iqbal Chagla told the Bombay high court in his closing remarks that his client Cyril Shroff would be filing an affidavit showing the “deep involvement” of his brother in the will.
Live from Bombay high court court room number 10 today, before Justice RD Dhanuka.
Amarchand Mangaldas Delhi managing partner Shardul Shroff has filed legal action in the Bombay high court against his brother and Mumbai-region managing partner Cyril Shroff.
Amarchand Mangaldas partner Abhimanyu Bhattacharya, who resigned in July, has now joined Khaitan & Co as expected and as first reported by Legally India at the time.
In an interview to UK legal magazine Legal Week, headlined as “Amarchand sizes up options for first international base as India's unlevel playing field continues to frustrate”, Amarchand Mangaldas Delhi managing partner Shardul Shroff said that the firm was thinking about opening an office abroad.
He told Legal Week:
“Singapore [is the strongest contender] because its links with India are quite strong… Singapore enables clients to service the whole of the ASEAN market… But it could be Hong Kong, London, Dubai or New York – it depends on what 2016 looks like. It also depends where clients need us…
“It would have to be an office of significance, not just a representative office where you receive the mail… We want to do it properly. We also don't want to disturb our international relationships with global law firms – we want to preserve these. But equally we want to provide Indian expertise that is relevant to the international market. We want to be present in markets where the local Indian situation becomes relevant; approaching the clients on their doorstep rather than expecting them to come to India…
“There are firms that have gone to China or Singapore but their offices are small and not significant enough to make a statement on behalf of Indian lawyers.”
Full article behind paywall at Legal Week [with free 2 week trial sign-up]
Amarchand Mangaldas together with Japanese firm Anderson Mori & Tomotsune advised Sumitomo Corporation Japan, with Amarchand also advising SMAS Auto Leasing India on acquiring the auto leasing business of New Delhi-based Carzonrent, which was advised by Kochhar & Co. The acquisition was for Rs 200 crore, as reported by the Times of India.
Amarchand Delhi partner Puja Sondhi, principal associate Ramanuj Gopalan, senior associate Sushrut Biswal and associate Vasudha Sharma acted for Sumitomo and SMAS. Kochhar Delhi partner Niti Paul, senior associate Maureen Z Ralte and associate Akshit Kapoor acted for Carzonrent. [Correction: The first published story had the wrong first name for Kapoor. The error is regretted.]
SMAS, a Japanese automobile joint venture, enters the Indian market through this deal, reported Mint.
SEBI has banned real estate giant DLF and six managers from the capital markets for three years after a finding of fraud.
Amarchand Mangaldas maintained its top spot in intelligence provider mergermarket’s M&A league rankings this quarter.
J Sagar Associates (JSA) advised Wall Street bank Goldman Sachs in the sale of its 73 per cent stake in City View Bangalore Properties to a joint venture floated by Blackstone and realty player Embassy Group. Blackstone and Embassy were advised by Amarchand Mangaldas and Simpson Thacher & Bartlett.
JSA Bangalore partner Vivek K Chandy and senior associate Siddharth K Vedula acted for Goldman Sachs.Amarchand Bangalore partner Reeba Chacko and senior associate Kota Chandan acted for Blackstone and Embassy.
Goldmans exited the JV through the deal after several failed attempts since 2012, reported the ET. The remaining stake in it is held by Westcourt and Century Real Estate Holdings.
ICICI Bank issued $500m of 3.50% 2020-due notes under 144A/Reg-S in its $7.5bn Global Medium Term Note (MTN) programme, through its Dubai branch, as reported by PTI.
ICICI instructed Amarchand Mangaldas partner Niloufer Lam with senior associate Madhav Kanoria and associate Aayushi Anand on Indian laws, with Davis Polk & Wardwell as international legal adviser, and UAE firm Al Tamimi via partner Mamoon Khan with Cherry Turcal advising on Dubai and UAE laws.
Latham & Watkins Singapore partner Min Yee Ng, supported by associates Dhiraj Joseph and Zhu An Lu, acted for lead managers Citigroup Global Markets, Deutsche Bank, The Hong Kong and Shanghai Banking Corporation and Bank of America Merrill Lynch.
Read on for the hottest M&As, fundraisings and financings of the fortnight.
Amarchand Mangaldas principal associate Ajay Joseph has joined Lakshmikumaran & Sridharan as a corporate partner in Mumbai.
After graduating from Symbiosis Pune and a postgraduate at the University of Durham, Joseph worked at FoxMandal Little for around two years, Khaitan & Co for four years, and Amarchand Mumbai from 2012.
He could not be reached for comment since yesterday.
Amarchand Mangaldas has opened a new office in Gurgaon with four Delhi partners
Some of the deals lawyers have been working on this month that we didn’t manage to cover separately.