L&L Partners
Luthra & Luthra has promoted two M&A and private equity lawyers – Damini Bhalla and Amit Shetye – to its partnership, as the firm has widened its executive committee and management outlined a strategic vision to ditch lower margin work and eschew big headcounts.
Three Luthra & Luthra Delhi partners have left or are leaving, just ahead of the firm’s delayed partnership promos.
Luthra & Luthra is set to announce its long-awaited partnership promotions on Saturday (3 August).
It is understood that a meeting of partners will be held today at 3pm on the topic, with some appraisals still going on through tomorrow.
The partnership promotion announcements are then set to be made at a function in the evening. Apart from Luthra, Amarchand Mangaldas was the last of the big six firms to announce its promotions on 3 July.
Amarchand Mangaldas solidified its lead in the Indian project finance league tables ahead of Luthra & Luthra, as AZB & Partners pushed its way into the top three.
Luthra & Luthra advised India’s largest multiplex operator PVR in its Rs 1,000 crore contract with BMR-advised Big Tree.
Luthra & Luthra advised Max India’s year-old subsidiary arm Antara Senior Living in setting up a Dehradun-based living community for senior citizens.
Three firms offload 81 million shares of real estate giant through the still novel institutional placement programme (IPP).
Seth Dua advised the Builders Association of India (BAI) in the Competition Appellate Tribunal against 11 cement companies.
Amarchand Mangaldas, Desai & Diwanji, Luthra & Luthra and Linklaters are advising Fortis Healthcare on its institutional placement programme (IPP) that could raise up to $58m (Rs 320 crore).
Amarchand capital markets partner Yash Ashar in Mumbai acted for Fortis, while Luthra & Luthra Delhi-based capital markets partner Madhurima Mukherjee advised the lead managers Standard Chartered, JP Morgan and Religare.
Linklaters Singapore also advised the lead managers.
Desai & Diwanji partners Vishwang Desai and Srishti Ojha and associate Ishita Kashyap advised GIC Special Investments, in relation to the foreign currency convertible bonds (FCCBs).
The price under Chapter VIII-A of SEBI’s ICDR regulations, will be no more than Rs 92 per share for up to around 35 million shares.
Luthra & Luthra litigation partner Ajit Warrier is to join Amarchand Mangaldas’ Delhi office after this month, according to legal website Bar & Bench’s sources but without official confirmation from the firms.
Warrier specialises in corporate litigation, having joined Luthra in 2006 after starting in chambers and independent litigation practice from 1993.
Luthra litigation partner Vijay Sondhi confirmed to Legally India that Warrier would join Amarchand.
Amarchand has emerged as the most aggressive Indian early recruiter hiring 36 fourth-year law students across 10 colleges.
25 Nalsarites accept jobs at six firms.
NUJS 4th year recruitment committee bags at least 20 jobs but keeps shtum.
NLSIU Bangalore placed 24 out of 80 fourth year students on 20 April 2013 including 11 pre-placement offers(PPOs). Two independent offers from McKinsey & Co were made in addition to those.
A total of 21 ‘day zero’ campus offers to start work in 2014 came from law firms Luthra & Luthra (8 campus offers), Trilegal (5), Amarchand Mangaldas (4), AZB & Partners (2), and Khaitan & Co (2), according to legal website Bar & Bench, with AZB and Khaitan having recruited entirely through PPOs.
A total of 50 students who had subscribed to the college placement process. Students have also secured three London internships each with Allen & Overy and Herbert Smith Freehills. NLSIU’s RCC has not been reachable for comment by Legally India.
NLU Jodhpur’s day zero was four days before NlSIU’s on 16 April, placing 14 students.
NLU Jodhpur placed 11 students out of its class of 80 that will graduate in 2014 in its first day of recruitments in the fourth-year – also known as day zero, beginning on 16 April 2013.
Amarchand top, Luthra 2nd, as Khaitan & Co makes first league table appearance in years.
6 deals spanning private equity and high finance with Amarchand, AZB, Lexygen, Luthra, KSP, SNG…
Rajani Associates advised brokerage house Motilal Oswal Private Equity (MOPE) which invested Rs 35 crore ($6.4m) in concrete blocks maker Magicrete Building Solutions, which was advised by Luthra & Luthra.
Rajani Associates founding partner Prem Rajani with partner Poorvi Sanjanwala, senior associate Karishma Jumani and associate Nishtha Mehta acted for MOPE which invested the amount through its funds India Business Excellence Fund IIA and India Business Excellence Fund II, according to a Rajani press release.
Luthra & Luthra Mumbai partner Bikash Jhawar with managing associate Amit Shetye and senior associate Rohan Shah acted for Magicrete, which was incorporated in 2008.
Magicrete is India’s largest maker of autoclaved aerated blocks, which are replacing red bricks in construction across India, according to the Economic Times and Deal Curry.
We know what Desai & Diwanji, HSA Advocates, I&S Associates, AZB & Partners, Fox Mandal and KS Partners and others did this month.