Shardul Amarchand Mangaldas

Massive Vodafone-IDEA merger continues causing quakes in league tables half a year after having been announced...

Shardul Amarchand Mangaldas has promoted 11 of its fee-earners to salaried partner level, with the majority of promotions taking place in the corporate practice.

McDonald’s India has approached the Delhi high court seeking to enforce a 13 September London Court of International Arbitration (LCIA) partial award to appoint experts to value and sell estranged former managing director Vikram Bakshi's stake in the North and Eastern India local franchise of the fast food giant, reported Mint, the Economic Times and others.

Realty Major DLF Limited has entered into an agreement to sell a stake of 33.34% in its rental arm, DLF Cyber City Developers Limited (DCCDL) to Reco Diamond Private Limited, an affiliate of the Singapore sovereign wealth fund, GIC Group, in a multi-stage transaction for an aggregate value of US$ 1.9 billion, as reported by VCCircle and Business Standard.

“A stake sale by DLF Ltd’s promoters to an affiliate of Singapore’s sovereign wealth fund GIC Pte Ltd will see capital infusion of nearly Rs 13,000 crore into India’s largest property developer,” reported Mint.

Smaaash Entertainment, a gaming and entertainment company co-owned by Sachin Tendulkar has entered into a definitive agreement to acquire a 100% stake in bluO entertainment, PVR's JV with Thailand-based Major Cineplex Group, B, through a cash acquisition deal for Rs 86 crores ($13.46 million), as reported by Livemint.

"Mars Food, part of Mars Inc said it has signed a definitive agreement to acquire Connecticut-based Preferred Brands International, known for its ready-to-heat Indian and Asian food products sold primarily under brand Tasty Bite," reported The Hindu Businessline.

"Non-banking finance company Five Star Business Finance has raised Rs 333 crores (about $50 million) in its Series C round led by Norwest Venture Partners and Sequoia Capital. Existing investors including a fund managed by Morgan Stanley Private Equity Asia and Matrix Partners also participated in the round. The round saw Five Star raising Rs 318 crores through primary infusion with about Rs 15 crores coming in via a secondary sale of shares," reported the Economic Times.

"Dollar Industries Limited announced an equal joint venture with Pepe Jeans Europe BV. Pepe London would pump in ₹36 crore worth of equity as its contribution over four years," reported The Hindu.

Shardul Amarchand Mangaldas (SAM) is offering multiple campus recruits base pay below the Rs 15-16 lakh fixed package that it had promised to students and announced to media in a record hike in 2015, that had placed the firm near the top of the fresher salary table.

Former Juris Corp partner Veena Sivaramakrishnan is joining Shardul Amarchand Mangaldas as a partner in Mumbai, as first reported by Bar & Bench.

"Online pharmacy and healthcare services start-up 1mg Technologies Pvt. Ltd has raised $15 million in a funding round led by global healthcare-focused fund HBM Healthcare Investments AG, to launch predictive healthcare and corporate wellness products. The series C round also saw participation from existing investors Maverick Capital Ventures, Sequoia India, Omidyar Network and Kae Capital," reported Mint.

"Global private equity (PE) firm Carlyle Group has emerged as the front runner for GE Capital Corp’s stake in SBI Card, the credit card joint venture between the US-based company and India’s largest lender State Bank of India (SBI). Carlyle has emerged as the front runner for GE Capital’s stake in SBI Cards for somewhere around $325 million. The board of SBI settled upon the final bidder in a meeting. Carlyle has pipped Warburg Pincus and Credit Saison and emerged as the final bidder though the deal is not closed yet,” reported Mint.

After national M&A head Shuva Mandal is set to join Tata Sons as group general counsel (GC) tomorrow (15 July), Shardul Amarchand Mangaldas has appointed partner Raghubir Menon into the regional M&A head role.

“In a major setback to the US- based fast food chain McDonald's in India, the National Company Law Tribunal (NCLT) today restored its estranged partner Vikram Bakshi as the Managing Director of Connaught Plaza Restaurant Ltd. The tribunal has said the meeting of Connaught Plaza Restaurants Ltd (CPRL) of August 6, 2013 in which Bakshi was removed as MD of the company was illegal, unjust and malafide,” reported the PTI.

"The initial public offer (IPO) of Eris Lifesciences was subscribed 3.27 times on the last day of the public offer and book running lead managers to the offer are Axis Capital, Citigroup Global Markets India and Credit Suisse Securities (India)," reported Economic Times.

“A Mumbai magistrate’s court on Tuesday admitted a Rs 500 crore criminal defamation suit, filed by R Venkataramanan, a trustee at Tata Trusts, against ousted Tata Sons Ltd chairman Cyrus Mistry and his family investment firms. Venkataramanan filed the defamation complaint in his personal capacity on 7 June through the law firm MZM Legal, citing allegations that Mistry made against him in an email he wrote to Tata Sons directors and Tata Trusts trustees on 25 October. The allegations pertained to some transactions at AirAsia India, Tata Sons’ joint venture with AirAsia Bhd,” reported Mint.

The Prevention of Money Laundering appellate tribunal set aside penalties imposed on 15 banks, in 2013, by the Financial Intelligence Unit (FIU) for alleged failure to prevent money laundering as revealed in a purported expose by news media Cobrapost.

Intertape, the Canadian packaging company with executive headquarters in Sarasota County, announced Thursday it is making a “greenfield” investment in Capstone Polyweave Private Limited, which plans to build a $30 million manufacturing facility in Karoli, India. Capstone’s shareholders also own and operate Delhi-based Airtrax Polymers Private Limited, which manufactures and sells woven products that are used in the building and construction industry. Airtrax posted $11 million in revenues for the year ended March 31.

The CLIENT:: State Bank of India (SBI);; is planning to raise Rs 15,000 crore in capital through a qualified institutional placement (QIP) of 54.4 crore equity shares, reported Bloomberg Quint.