“Milestone Commercial Advantage Fund made its first investment in June in The Capital, a commercial building in Mumbai’s Bandra-Kurla Complex,” reported the Economic Times.

“Green Visor Capital announces follow-on investments in Flutterwave and Simpl, two emerging payments companies targeting commerce in Africa and India, respectively,” according to News Wire.

Indialaw added former HSA Advocates associate partner Sumedha Dutta as a partner in Delhi to build its corporate M&A practice.

Trilegal has voted for J Sagar Associates (JSA) Mumbai banking and finance partner Kannan Rahul to join the firm’s partnership.

Following our exclusive report of a ministry meeting with lawyer stakeholders on 28 July, at which prime minister Narendra Modi’s intention was made clear to allow foreign law firms to enter on a “top priority” basis, ET NOW has re-reported the development and interviewed two eminent senior counsel - Harish Salve and Gopal Jain - who both spoke out in favour of the prompt entry of foreign law firms.

Khaitan & Co Bangalore partner Ganesh Prasad with associate partner Vinay Joy, principal associate Arun Scaria and senior associate Sanjay Khan Nagra represented Indian Singapore-headquartered e-commerce Flipkart on the $2.5bn investment.

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.

Former DLA Piper Dubai legal director and NLSIU Bangalore 1996 alumnus Diwakar Agarwal has joined Stephenson Harwood as a partner in Dubai.

Former Snapdeal general counsel Ashish Chandra joined Malaysian media and entertainment company Astro Malaysia Holdings as vice president and head counsel, effective today.

“Budget hotels chain FabHotels has raised $25 million in a Series B funding round led by Goldman Sachs, a top company executive said. Accel Partners, an existing investor in FabHotels, also participated in the round,” reported Mint.

The law and commerce ministries, including law minister Ravi Shankar Prasad, met with a number of stakeholders of the Indian legal profession today, paving the way for the first stage of allowing foreign law firms to set up shop in India.

“Axis Bank Ltd on Thursday announced the acquisition of Snapdeal-owned mobile wallet FreeCharge in a Rs385 crore all-cash deal, strengthening its position in the payments space,” reported Mint.

“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.

The Bar Council of India (BCI) is set to meet the government tomorrow to discuss the new draft rules that will enable the entry of foreign law firms into India, reported The Lawyer (full article requires free registration) adding that the Society of Indian Law Firms (SILF) has already met with its members as a precursor to what SILF called the “inevitable and imminent” opening up of the legal services sector.

Samvad Partners added advocate-on-record (AOR) and NLSIU Bangalore 2005 alumnus Arjun Krishnan as a partner in Delhi, effectively from August 2017.

Automotive insurtech company Roadzen Inc. has acquired the India operations of assistance services company AXA-Assistance India by acquiring 100% equity stake in AXA Assistance India Private Limited from its sole shareholder Inter Partner Assistance SA in a cross border transaction.

Indian insurance company Global Insurance Services Brokers Private Limited and its promoters Prabodh Thakker and Sunita Thakker have acquired the entire stake of 26% of Aon Holdings BV in their Indian insurance JV broking company, Aon Global Insurance Brokers Private Limited, for an undisclosed amount, as reported by The Economic Times and The Insurance Insider. Post the acquisition, the name of the company has been changed to Global Insurance Brokers Private Limited.

Khaitan & Co Bangalore general corporate and commercial partner Abhilekh Verma is set to leave the firm, after six years with it.