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Cyril Amarchand Mangaldas

26 November 2015

Cyril Amarchand Mangaldas advised US private equity bulgebracket firm Kohlberg Kravis Robert (KKR) on its $115m (Rs 762 crore) acquisition of 72 per cent stake in investment bank Avendus Capital which was advised by Khaitan & Co.

Khaitan Mumbai executive director Daksha Baxi, core transaction partners Haigreve Khaitan and Niren Patel, regulatory team partners Siddharth Shah, Arindam Ghosh, direct tax partner Sanjay Sanghvi, principal associate Ritu Shaktawat, senior associate Deepak Jodhani, Kaushalya Shetty,Ashish Mehta, associates Vinita Choudhury and Yashashree Mahajan acted for Avendus.

CAM partners Reeba Chacko, Ipsita Dutta and Nisha Kaur Uberoi, senior advisor financial services Anand Sinha and of counsel Usha Narayanan acted for KKR

The acquisiiton was made through a combination of new shares and a secondary sale of stock by its promoters, in two tranches - first part being 62.2 per cent, according to Khaitan’s press release.

The equity value of Avendus Capital will increase to $180m or Rs 1,120 crore after this transaction reported the Economic Times.

Avendus will use the sale proceeds to become a lender and strengthen its advisory and alternate asset-management businesses. The company is looking forward to scale up its existing businesses and build a non-banking finance company (NBFC) business focusing on mid-market companies and their owners. Some part of the proceeds will also be used to build new products in the alternative asset management business, added ET.

24 November 2015

IndusLaw advised Olacabs on raising $500m (Rs 3,320 crore) from 15 investors, some of which were advised by Nishith Desai Associates (NDA), Cyril Amarchand Mangaldas (CAM) and foreign law firms Goodwin Proctor, Gunderson Dettemer, Morrison & Foerster, Ropes & Gray and Fangda Partners.

11 November 2015

CamSamEvery year, law firms send out creative electronic (and paper) cards celebrating the festival of lights. This year, we’ve collected a few of the larger firms’ greetings that have found their way into our inbox.

02 November 2015

Khaitan & Co acted for Reliance Telecommunications in its acquisition of the wireless business of J Sagar Associates (JSA)-advised Sistema Shyam Teleservices for Rs 2,100 crore of equity, while also taking on Rs 2,400 crore of Sistema’s debt to the government.

30 October 2015

In a setback to the Arvind Kejriwal government, the Delhi high court on Friday quashed the executive decision to get the books of accounts of the three private power distribution companies (discoms) in the city-capital scrutinised by the Comptroller and Auditor General of India (CAG).

29 October 2015

Cam CompatCyril Amarchand Mangaldas (CAM) couldn’t save apparel exporter, the Tavoy Group, from the Competition Appellate Tribunal (COMPAT) imposing Rs 5 lakh in costs against it.

27 October 2015

Khaitan & Co advised computer security software company Quick Heal Technologies on its $38.5m (Rs 250 crore) Initial Public Offering of fresh issue of equity shares and and an offer for sale of 6,814,736 equity shares by existing shareholders, consisting of Kailash Sahebrao Katkar, Sanjay Sahebrao Katkar, Sequoia Capital India Investment Holdings III, and Sequoia Capital India Investments III

The investors were advised by _Cyril Amarchand Mangaldas _partner Arjun Lall. Luthra & Luthra Mumbai partner Manan Lahoty acted for the book running lead managers which were also advised by Sidley Austin Singapore partner Prabhat K Mehta.

Khaitan Mumbai executive director Sudhir Bassi, partner Abhimanyu Bhattacharya, principal associates Thomas George and Ashwinee Oturkar, associates Oishik Bagchi, Abir Sarkar and Manasi Gandhi acted for Quick Heal.

The company has filed its Draft Red Herring Prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) reported on 29 September and ICICI Securities, Jefferies India and JPMorgan India are the book running lead managers to the issue reported Times.

07 October 2015

q5jzahsmCyril Amarchand Mangaldas (CAM) can now file for clients in the Supreme Court, having registered its own Advocate-on-Record (AOR) firm after the shared AOR firm of the erstwhile Amarchand Mangaldas was reconstituted.

02 October 2015

Sapan GuptaBajaj Finance general counsel (GC) Sapan Gupta will join Shardul Amarchand Mangaldas in December to spearhead a national banking practice from Mumbai.

24 September 2015

J Sagar Associates (JSA) acted for First Carlyle Ventures Mauritius, whose affiliate is advised by The Carlyle Group, and the promoters and management shareholders of telecoms software company Elitecore Technologies Limited, in their sale of 100 per cent of Elitecore for Rs 180 crores to optical fibre maker Sterlite Technologies, which was advised by Cyril Amarchand Mangaldas partner Santosh Janakiram and partner designate Himanshu Dodeja.

JSA partner Vikram Raghani and senior associates Anand Lakra and Avinash Jethwani led the team for Carlyle.

JSA had also advised First Carlyle Ventures Mauritius during its initial investment in Elitecore. The deal will expand Sterlite’s broadband offering, reported PTI.

09 September 2015

According to a press release from the Cyril Amarchand Mangaldas (CAM), yesterday was “an important day for the firm” after it has announced the “newly formed CAM governance structure for the practice areas, the constitution of various committees” which will be effective immediately and “form the framework that will help us move towards the aspirations we have set for ourselves”.

04 September 2015

App-based taxi operator Ola’s parent company ANI Technologies has won a favourable majority decision from the Competition Commission of India (CCI), which declined to pass any interim order around the allegation that the company was involved in illegal predatory pricing.

31 August 2015

In April earlier this year, Cyril Amarchand Mangaldas (CAM) acquired three out of four MNK Law Offices partners in Delhi but three authoritative sources have confirmed that the fourth partner, Probal Bhaduri, has now joined PDS Legal offices in Delhi.

17 August 2015

Birla Corporation bought the Eastern cement plants of Lafarge for Rs 5000 crore from Lafarge India following the Competition Commission of India (CCI) order for the French company to divest itself of the units after its Rs $44bn merger with Holcim.

14 August 2015

Cyril Amarchand Mangaldas acted as legal counsel to the US’ LyondellBasell Group in its acquisition of the chemical business of Aurangabad-based company SJS Plastiblends, which was advised by Economic Laws Practice (ELP).

The acquisition signed on 7 August involves transfer of the whole business of manufacturing, distribution and sales of polypropylene compounds conducted by SJS Plastiblends, as reported by the Economic Times and others.

The Cyril Amarchand Mangaldas was led by Mumbai-based corporate partners Vandana Shroff and Anshuman Jaiswal, assisted by New Delhi-based tax partner SR Patnaik and competition law advice by Mumbai-based competition partner Nisha Kaur Uberoi.

KPMG acted as financial advisors to the LyondellBasell Group.

SJS Plastiblends Private Limited was advised by ELP associate partner Amit Manubarwala, with Singhi Advisors acting as its financial advisors.

New York Stock Exchange listed LyondellBasell is one of the world’s largest plastics, chemicals and refining companies and has an existing India presence.

14 August 2015

Erstwhile Amarchand Mangaldas, the law firm that split in May into Shardul Amarchand Mangaldas and Cyril Amarchand Mangaldas, is the only Indian law firm that made it into a top 20 index of Asia Pacific law firm brands published this year.

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