Khaitan & Co
Khaitan & Co has advised India's largest utility vehicle maker in acquiring Bangalore electric car manufacturer REVA Electric Car Company, which was advised by Trilegal.
Amarchand Mangaldas picked up almost one third of 33 initial public offering (IPO) mandates in the first quarter of 2010, while Crawford Bayley, J Sagar Associates (JSA), Luthra & Luthra and Khaitan & Co together bagged another 40 per cent of instructions.
Khaitan & Co has promoted Mumbai associates Joy Jacob, Ashwin Mathew and Savita Singh to its partnership and announced associate bonuses of as much as 90 per cent of annual salaries at the top end.
Khaitan & Co Mumbai has hired J Sagar Associates (JSA) retained partner and infrastructure projects specialist Amitabh Sharma into its partnership, which is the third lateral partner hire the firm completed yesterday (1 April).
Khaitan & Co has bolted on Delhi technology media and telecommunications (TMT) practice start-up Legal Spectrums and its founder Asim Abbas as a partner and has hired two lawyers from telecoms major BT's offshore legal centre in Gurgaon.
Khaitan & Co has won a landmark order from the Authority for Advance Rulings (AAR) for the firm's client E*trade Mauritius (ETM) to obtain tax exemptions under the India-Mauritius Tax Treaty on capital gains accrued from a sale of shares it held in an IL&FS investment.
Khaitan & Co has hired ex-bureaucrat and lawyer Dr PK Agrawal as partner to head its real estate practice in Delhi.
Khaitan & Co has picked up the Indian mandate to advise private equity group Intermediate Capital Group (ICG) on the $440m purchase of legal process outsourcing company CPA Global, alongside a raft of international firms.
Khaitan & Co and Wadhwa Group's in-house counsel have closed Mumbai's largest land deal of the year, in the 18.18-acre land purchase in the eastern suburbs of Mumbai from Hindustan Composites (HCL) for Rs 571 crore ($125m).
Desai & Diwanji acted on 24 M&A deals in the 2009 calendar year, placing it at the top of data provider mergermarket's M&A league table by volume. Amarchand Mangaldas topped the table by value, having advised on M&A deals worth $6.4bn in 2009, while Khaitan & Co and AZB & Partners also gave a strong showing.
In December 2009 Luthra & Luthra slipped past Khaitan & Co into second place in the initial public offering (IPO) league tables after acting on three IPOs with Khaitan bagging two instructions. Crawford Bayley took three deals and drew level with AZB & Partners as the fourth busiest Indian IPO firm, while Amarchand Mangaldas built up its lead with five mandates.
Crawford Bayley and Khaitan & Co have advised on the $400m (Rs 1,900 crore) takeover of listed Chennai pharmaceutical company Orchid Chemical & Pharmaceutical by US pharma major Hospira.
In November Amarchand Mangaldas' Bangalore office bagged a role in four out of six initial public offerings (IPOs), and together with one instruction from Delhi has extended its lead in the top spot of the IPO league tables over Khaitan & Co, Luthra & Luthra and AZB & Partners.