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Khaitan & Co

08 February 2016
, as wellEconomic Laws Practice (ELP) has won the eighth cricket ELP Masters Cup in Mumbai against AZB & Partners in the finals by 12 runs late yesterday.
04 February 2016

There might only be one way to settle this...The new report by legal directory Chambers & Partners, which compiles an annual tiered ranking of law firms and partners in various practice areas, has seen Khaitan & Co take the top spot by number of "ranked" lawyers, reported The Economic Times, while AZB & Partners, Khaitan & Co and both erstwhile Amarchand Mangaldas co-managing partner Shroff brothers have lost dominance.

03 February 2016

Advani & Co partner Kshitij Sancheti has joined Seth Dua & Associates as a corporate partner in its Mumbai office, following two new associate partners having joined the firm last year after four partners left.

20 January 2016

Alpha Partners advised online grocery service Mera Grocer on its acquisition by the hypermarket chain Spencer’s Retail which was advised by Khaitan & Co.

Alpha Delhi partner Akshat Pande acted for the Omnipresent Retail-owned Mera Grocer which currently operates in Gurgaon and some Delhi neighbourhoods.

Khaitan Mumbai partner Ashish Razdan, executive director Daksha Baxi, senior associates Alok Sonker, Shabnam Shaikh and Surajkumar Shetty, principal associate Shailendra Bhandare and associates Sunayana Bose, Abir Sarkar and Alisha Ganjawala acted for the RP-Sanjiv Goenka Group-owned multi-format retailer Spencer’s Retail.

Mera Grocer earns only Rs 5 crore in annual revenue but Spencer’s bought it less for its size and more for its robust information technology platform, reported Mint.

08 January 2016

Khaitan & Co advised B9 Beverages on selling 20 per cent stake to Sequoia Capital which was advised by Themis Associates.

Khaitan Delhi associate partner GT Thomas Phillippe, principal associate Arjun Rajagopal and associate Akshaya Iyer acted for B9.

Themis Bangalore principal associate Ashwani Verma acted for Sequoia.

The Craft beer company B9 raised $6m (Rs 37 crore) in this round which included, in addition to Sequoia, Snapdeal and Zomato as investors for its handcrafted beer brand Bira91, reported Your Story.

08 January 2016

A string of Cyril Amarchand Mangaldas’ (CAM) senior and principal associates have left in recent months, following the hiring spree by the firm following its split with Shardul Amarchand Mangaldas.

08 January 2016

Cyril Amarchand Mangaldas and Clifford Chance advised book runners Nomura Financial Advisory & Securities (India), Axis Capital, JP Morgan India and Edelweiss Financial Services on the Rs 1,350 crore initial public offer (IPO) of Indian pharma global giant Alkem Laboratories. Alkem was advised by Khaitan & Co.

CAM Mumbai capital markets partner Gaurav Gupte and Clifford Chance Singapore partner Rahul Guptan acted for the four global coordinators and lead managers.

Khaitan Mumbai partner Abhimany Bhattacharya, executive director Sudhir Bassi, principal associate Soumya Mohapatra and associates Aanchal Arora, Aayush Mohata, Abir Sarkar and Srikant Mantravedi acted for Alkem.

The IPO of 12,853,442 Rs 2 equity shares for cash at a price of INR 1,050 per Equity Share, through an offer for sale by the selling shareholders, aggregating to Rs 13,46.62 crore, according to CAM’s press release.

The generic drugs maker had filed its prospectus for the IPO with SEBI in August, reported Business Standard.

The original version of this story overstated the size of the IPO. We regret the error.

06 January 2016

AZB & Partners and Clifford Chance Hong Kong advised global investment banking major Goldman Sachs on its $66m (Rs 441 Crore) acquisition of minority stake in Indian hotel investor Samhi Hotels which was advised by Economic Laws Practice (ELP) and Jones Day. Khaitan & Co and Trilegal advised existing investors GTI Capital and IFC

AZB Mumbai partner Nilanjana Singh and senior associate Rinki Ganguly and associate Vijay Manjrekar, and Clifford Chance Hong Kong partner Neeraj Budhwani, senior associates John Koshy and Cheris Wong advised Goldman Sachs.

ELP Mumbai partners Sujjain Talwar and Darshan Upadhyay, associate partner Aakanksha Joshi and associate managers Amruta Kelkar and Kanisha Vora, and Jones Day Singapore partners Dennis Barskyand Karthik Kumar and associate Caitlyn McCarthy advised Samhi.

Khaitan Delhi partners Bharat Anand and Joyjyoti Mishra, principal associate Arjun Rajagopal and associate Nidhi Kilawala advised GTI Capital.

Trilegal Delhi partner Ravindra Bandhakavi, counsel Vaibhav Kothari and senior associate Parnika Malhotra acted for IFC

17 December 2015

AZB & Partners overtook Khaitan & Co, and the split firms of Amarchand Mangaldas, on data provider Mergermarket’s M&A leader board this year, where the combined deal value of the Amarchand Mangaldas firms would have led the value rankings by a margin of $4bn.

16 December 2015

Shardul Amarchand Mangaldas acted for Blackstone on its sale of shares in the Rs 500 crore ($75 m) initial public offer (IPO) of fragrance maker SH Kelkar & Co which was advised by DSK Legal. Khaitan & Co and Jones Day advised the IPO’s book running lead managers JM Financial Institutional Securities and Kotak Mahindra Capital Company.

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.

17 November 2015

d2o4hzhrLegasis Partners associate partner Nishad Nadkarni has joined Khaitan & Co in Mumbai as a partner in its intellectual property (IP) practice.

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.

03 November 2015

Khaitan & Co advised Indian stationery maker Writefine Products on selling 32.5 per cent equity to Italian art products maker and distributor Fabbrica Italiana Lapis ed Affini (FILA). FILA was advised by AZB & Partners and Italian law firm Studio Legale Salonia Associati.

Khaitan associate partner Mehul Shah, senior associate Vivek Sriram,and associate Vidur Sinha acted for Writefine Products.

AZB Partner Alka Nalavadi acted for FILA which was increasing its shareholding in Writefine to 51 per cent from 18.5 percent.

Writefine Products, a Gujarat-based company that claims to have close to 3,000 employees, was valued at around Rs 740 crore (around $114m) in the deal, reported VCC Circle.

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

Khaitan & Co advised rail freight car makers, the Australia-based UGL Rail Services and the Indian Texmaco Rail and Engineering on UGL’s sale of its 50 per cent stake in its joint venture with Texmaco – Texmaco United Group Rail.

Khaitan Kolkata partner Padam Khaitan, associate partner Arindam Sarkar and associates Shourya Sengupta and Prithwijit Gangopadhyay acted for UGL

Khaitan Mumbai partner Haigreve Khaitan, associate partner Anuj Sah and Associate Sunayana Bose acted for Texmaco.

UGL sold its share in the Indian joint venture because it was starved of orders after the downturn in locomotive sales in Australia, and it was set up for primarily catering to the Australian market, reported the PTI.

30 October 2015

Delhi firm Seth Dua & Associates hired former Khaitan & Co senior associate Gaurav Dhwaj in telecoms, media and technology (TMT) and Vaish Associates senior associate Upvan Gupta in tax as associate partners.£££para£££

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.

26 October 2015

Khaitan & Co advised IT and software outsourcing company HCL Technologies on its acquisition of Swedish multinational group Volvo’s external IT business for $138m (Rs 895 crore) in an all cash deal. London based law firm Greenberg Traurig Maher LLP represented Volvo.

Khaitan Delhi partner Joyjyoti Misra, senior associate Shruti Singh and associate Sanchit Agarwal acted for HCL

The two companies have also signed a letter of intent under which the Volvo Group will also outsource its IT infrastructure operations to HCL Technologies for an undisclosed amount for five years. Around 2600 Volvo personnel affected by the transaction would be offered to move to HCL according to report by Firstpost.

The transaction will be closed during the second quarter of 2016 and will provide both cost savings and a capital gain, Volvo said.

26 October 2015

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