J Sagar Associates (JSA)

J Sagar Associates (JSA) Mumbai partner Nandini Mehta left the firm to join realty portal Housing.com as its general counsel, reported Money Control and several others further to a company press release.

J Sagar Associates (JSA) advised Reliance Capital (RCAP) on the Rs 1200 crore ($180m) sale of 14 per cent stake in Reliance Capital Asset Management (RCAM) to Japan’s largest life insurance company Nippon Life Insurance (NLI). NLI was advised by Khaitan & Co and Anderson Mori & Tomotsune.

JSA Mumbai partners Dina Wadia and Gautam Gandotra, senior associate Gagan Sharma and associate Upamanyu Talukdar acted for RCAP

Khaitan partner Niren Patel, senior associates Aravind Venugopal and Ritwik Kulkarni and associate Vidur Sinha and Anderson partner Ryo Kotoura and associate Masahiko Yasui acted for NLI

According to the press release, the stake sale would lead to change in controlling interest in RCAM according to mutual fund rules of the Securities and Exchange Board of India (SEBI) as NLI already had 35 per cent stake in RCAM This deal will trigger the exit option for various unit holders of various mutual fund schemes of Reliance Mutual Fund.

According to the report by TOI, this is the largest foreign investment in the mutual fund industry in India. Post the stake sale, Reliance MF will be renamed as Reliance Nippon MF

J Sagar Associates (JSA) advised Union Bank of India on its acquisition of 49 per cent shareholding in its joint ventures, Union KBC Asset Management Company (KBC-AMC) and Union KBC Trustee Company (KBC-TC) from KBC Participation Renta. KBC Participation Renta was advised by BMR Legal.

JSA Mumbai partner Dina Wadia, senior associate Manav Raheja and associate Viraj Bathe acted for Union Bank of India.

BMR Legal partner Souvik Ganguly, managing associate Vishruta Kaul and associate Deep Jain acted for KBC Participations Renta which a group company of Luxembourg based KBC Asset Management NV

The acquisition will be complete subject to regulatory approvals from the Securities and Exchange Board of India (SEBi) and the Competition Commission of India (CCI). After this acquisition, both Union KBC Asset Management and Union KBC Trustee Company will become wholly-owned subsidiaries of Union Bank of India reported Business Standard.

J Sagar Associates (JSA) advised renewable energy company BLP Energy on its $33.8m (Rs 220 crore) acquisition by Italy’s Enel Green Power which was advised by Khaitan & Co and Ashurst Singapore and Italy.

JSA partner Sidharrth Shankar and associates Prakriti Jaiswal and CV Srikant acted for BLP

Khaitan Mumbai partner Joy Jacob and Ashurst Singapore partner Keith McGuire acted for Enel.

This year US-based SunEdison and First Solar, Russia’s OAO Rosneft, China’s Trina Solar, Japan’s SoftBank and Taiwan’s Foxconn Technology have either invested or evaluated investing in the Indian renewables sector, reported Mint.

J Sagar Associates (JSA) advised Fidelity Growth Partners on investing $9m (Rs 60 crore) in Shadowfax Technologies which was advised by Avigna Law.

JSA Delhi partner Manvinder Singh, senior associate Zain Pandit and associates Sonali Kapoor, Ritika Arora and Akhil Bhardwaj acted for Fidelity.

Bangalore-based Avigna Law partner Chitra Raghavan acted for Shadowfax.

Fidelity made $9m the infusion through its investment arm Eight Roads, into shadowfax which is a hyperlocal delivery services start-up for restaurants and retailers, reported VC Cirlce.

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.

Legasis Partners advised used vehicles online marketplace CredR’s owner Incredible Technologies in raising $15m from Eight Roads Ventures, which was advised by J Sagar Associates (JSA).

Legasis Pune partner Apurv Sardeshmukh and Mumbai partner Yogesh Chawak acted for the less than one-year-old start-up Incredible, which was founded by IIT alumni and, according to Mint, had raised funds from Growthstory in June.

JSA Delhi partner Manvinder Singh, senior associate Nalin Bawa and associate Sonali Kapoor acted for Eight Roads - formerly known as Fidelity Growth Partners.

The online used vehicles space is crowded with several other players such as Truebil, Zoomo, CarDekho, Carwale and CarTrade in addition to horizontal P2P platforms such as OLX and Quikr, reported VC Circle.

Dina Wadia and Shivpriya Nanda have been elected unopposed to become the J Sagar Associates (JSA)’s first joint managing partners.

J Sagar Associates (JSA) Mumbai capital markets partner Kaushik Mukherjee has resigned from the firm to join BMR Legal, reported Bar & Bench.

CORRECTION: The earlier report erroneously stated that Mukherjee would join BMR. Mukherjee has clarified that “the statement that I have accepted an offer with BMR is not correct”. Legally India regrets the error.

JSA managing partner Berjis Desai confirmed to Legally India that Mukherjee had said he would leave JSA but declined to comment further.

Mukherjee was made partner at JSA in 2013, as reported by along with 17 others Legally India.

The 2003 law graduate Mukherjee worked at AZB & Partners for over six years and White & Case London for over two years before joining JSA.

J Sagar Associates (JSA) has finished its executive committee election, inducting three new members into the now-seven-strong committee, according to the firm’s press release.

Cyril Amarchand Mangaldas acted as legal counsel to BNP Paribas in its Rs 2,000 to 2,200 crore acquisition of Sharekhan, with AZB & Partners acting for the sellers.

J Sagar Associates (JSA) Mumbai partners Somasekhar Sundaresan, Vikram Raghani and Jamshed Bhumgara acted for the management shareholders of Sharekhan.

Cyril Amarchand Mangaldas Mumbai-based corporate partners Ashwath Rau and Shishir Vayttaden led the team for BNP. Senior advisor Anand Sinha, who was formerly deputy governor at the Reserve Bank of India (RBI), advised on regulatory aspects, while Bangalore-based employment partner Rashmi Pradeep assisted with labour law-related advice.

Tax advice was handled by Cyril Amarchand New Delhi-based tax partner SR Patnaik, while Mumbai-based partner Nisha Kaur Uberoi handled the competition law aspects.

AZB Mumbai-based partner Vaidhyanadhan Iyer acted for the multiple sellers.

The Rs 2,000 crore deal was signed on 30 July 2015 and is expected to close by 31 January 2016. The online share trading platform’s sale to BNP has been hailed as a vote of confidence in India’s equity market, reported Economic Times.

J Sagar Associates’ (JSA) partnership will elect seven partners into its executive committee in the coming months, out of whom two will become joint managing partners in an election slated for October.

J Sagar Associates (JSA) funds formation partner Jay Gandhi and his team of five associates will join Shardul Amarchand Mangaldas (SAM) in Mumbai under former JSA senior partner and SAM Mumbai Akshay Chudasama.

J Sagar Associates (JSA) advised travel met search website Ixigo’’s owner Le Travenues Technology and its promoters Aloke Bajpai and Rajnish Kumar on its fundraising from mobile phone maker Micromax Informatics, which was advised by Indus Law.

Cyril Amarchand Mangaldas (CAM) Mumbai-based corporate partner Anshuman Jaiswal advised Ixigo’’s existing investors SAIF Partners and MakeMyTrip.

JSA Bangalore partner Vivek K Chandy and senior associate Siddharth K Vedula acted for Ixigo.

Indus Delhi partner Gaurav Dani, senior associate Divya Varghese and associate Chitvan Bakshi acted for Micromax.

Micromax plans to invest between $500,000 and $20m in over 20 start-ups this year with the help of its newly installed mergers and acquisitions (M&As) team, reported Mint.