Desai & Diwanji

Former Desai & Diwanji (D&D) Delhi partner Raghav Mathur has gone in-house with Dubai-based super speciality hospital NMC Healthcare in its corporate M&A legal team.

Mumbai-based online lending startup Kissht, operated by OnEMi Technology Solutions has raised Rs 67 crore (USD 10 million) led by China’s Fosun International along with existing investors, venture capital firm Endiya Partners and early-stage investor Ventureast, as reported by VC Circle.

Torrent Pharma, the flagship company of the Torrent Group, have announced their acquisition of the domestic formulations business of Unichem Laboratories, one of India's oldest and largest pharma companies, for about Rs 3,600 crores (around $556m), through a business transfer agreement, as reported by The Economic Times and Business Standard.

Desai & Diwanji partner Shyam Pandya has joined as an associate partner of Economic Laws Practice (ELP) in its corporate, commercial, private equity and venture capital team in Mumbai, according to a press release from the firm.

"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.

Desai & Diwanji litigation partner Anoj Menon and his team of at least two senior associates, Dhanyashree Shah Jadeja and Shreevardhini Parchure, will be joining AZB & Partners.

As first reported by us in October when battle lines were first being drawn, Desai & Diwanji is continuing to represent ousted Tata Sons chairman Cyrus Mistry, who has now, via his company Cyrus Investments, filed in the National Company Law Tribunal (NCLT) against Tata Sons, with Cyril Amarchand Mangaldas also having been roped in to advise the Tatas.

Asian Legal Business (ALB) magazine last month released a listing of Asia’s biggest law firms, including a round-up of the 25 largest Indian firms by total headcounts.

Tata Sons’ former chairman Cyrus Mistry, who was unexpectedly fired from the organisation on Monday, has reportedly decided to approach the Bombay high court challenging his dismissal, although we understand that no case has been filed yet.

"Credit rating firm ICRA Ltd said on Friday it has struck a deal to sell its software development arm, ICRA Techno Analytics Ltd, to IT firm Nihilent Technologies Ltd for Rs 68.75 crore ($10.3 million),” reported VCCircle.

PDS Legal and Desai & Diwanji together acted for the Wadia group-owned airline GoAir in its order to buy another 72 Airbus 320 NEO aircrafts for around $7.7bn.

Rajani & Associates senior partner Sanjay Israni left the firm to head Desai & Diwanji’s capital markets team as a partner in Mumbai.

Deutsche Bank India senior legal counsel Sapna Bhawnani will join Credit Suisse in Mumbai as its joint director and co-head of legal India in the coming months.

Freshly minted Cyril Amarchand Mangaldas partner Himanshu Dodeja will join private equity major Blackstone as its India general counsel (GC).