Khaitan & Co

Khaitan & Co has promoted seven of its principal associates to non-equity partner level, though formally the firm has abolished the associate partner designation to help its young partners in brand-building and to externally present a more unified partnership.

Khaitan & Co disputes partner Sachin Mandlik is going independent, as had first been reported by Bar & Bench. Meanwhile, we understand that Khaitan is in advanced stages of finalising several senior hires in the space, and it vowed to expand its disputes presence both in Bangalore and Mumbai.

Nihal Kothari, executive director in Khaitan & Co’s indirect tax team in Mumbai, passed away yesterday.

Khaitan & Co principal associate and IP Delhi 2008 alumnus Abhishek Sanyal has joined Economic Laws Practice (ELP) as associate partner in Delhi.

Ananya Birla is in advanced negotiations to acquire Micro Housing Finance Corp, which provides home loans to urban households with lower income, for around Rs 300 crore, reported ET and according to AZB’s press release.

Khaitan & Co has hired NLSIU Bangalore associate professor and chair of the undergraduate council Rahul Singh as a partner for its competition practice.

Former Khaitan & Co partner and PXV Law Partners co-founder GT Thomas Phillippe has today joined technology and food delivery giant Zomato, which has been using AZB as its adviser, in Delhi as general counsel (GC).

Nalsar Hyderabad 2015 alumnus Nishant Prasad has joined mutual fund distributor Scripbox as its sole legal counsel.

“Hindustan Unilever Ltd (HUL) on Monday said it has agreed to buy ‘Adityaa Milk’ ice cream brand from Karnataka-based Vijaykant Dairy and Food Products Ltd for an undisclosed amount aiming a larger slice of the fragmented ice cream market in India. HUL, which already sells ice creams under the Kwality Wall’s, Magnum and Cornetto brands, has signed an agreement with Vijaykant Dairy to buy ice cream and frozen dessert business of the company along with its front-end distribution across Karnataka, Maharashtra, Goa and Kerala where the company has presence,” reported Mint.

Gurgaon-headquartered online travel marketplace, TravelTriangle has raised around Rs 78 crores ($12m) in a Series C round of funding led by Nandan Nilekani and Sanjeev Aggarwal backed growth-capital fund, Fundamentum, along with existing investors SAIF Partners, Bessemer Venture Partners, RB investments and a clutch of angel investors, as reported by The Economic Times and Money Control. The deal marks the first investment by Fundamentum, and with this. partner at Fundamentum, Ashish Kumar will join the TravelTriangle board.

In one of the largest in-bound investments in eastern India this year, Austrian film-based flexible packaging manufacturer, Constantia Flexibles have completed the acquisition of a majority shareholding in Kolkata-based Creative Polypack for an undisclosed sum, making it India’s third largest flexible packaging company also gaining a stronger footprint in the HPC market, reported The Hindu.

Germany-based machine joining components manufacturer NORMA Group SE have acquired 100% stake in Indian water management firm Kimplas Piping Systems for an undisclosed amount, as reported by VC Circle and The Hindu Business Line. The deal was closed on July 5, 2018 reported Business Insider.