“India has a new tech unicorn. Hike, a four-year-old messaging app, today announced that it has closed $175 million in funding led by new investors Chinese internet giant Tencent and manufacturing firm Foxconn. The Series D round values the company at $1.4 billion, founder and CEO Kavin Bharti Mittal confirmed to TechCrunch,” reported Techcrunch.

Khaitan & Co has hired PricewaterhouseCoopers (PwC) director Abhishek Rastogi and associate director Rashmi Deshpande into its indirect tax practice in Mumbai.

BMR Legal Mumbai partner Souvik Ganguly, who had joined the firm in 2014 after two years of running his own law firm Acuity Law, has resigned, Bar & Bench first reported and we have also now confirmed.

The Supreme Court today lifted a ban on registering diesel cars, SUVs and other vehicles with an engine capacity of 2,000 cc and more in the National Capital Region after depositing one per cent of the ex-showroom price as environment compensation charge (ECC) with the Central Pollution Control Board (CPCB).

Shardul Amarchand Mangaldas partner and tax head Krishan Malhotra has joined Dhruva Advisors as senior partner.

Shardul Amarchand Mangaldas IP partner Nitin Masilamani has left the firm and started up his own IP firm with Delhi managing partner Pallavi Shroff commenting “we wish him all the best”.

Japanese healthcare media giant M3 has acquired a stake in Health Impetus Private Limited - which offers disease management services - from its existing shareholder, Health Care at Home India Private Limited, and by subscribing to equity shares in the target for an undisclosed amount.

Jindal Global Law School (JGLS) Sonepat and the Indiana University Center on the Global Legal Profession is hosting a very interesting panel discussion today, which I intend to live blog here.

“Tata Chemicals Ltd has agreed to sell its urea plant in Babrala, Uttar Pradesh, to the Indian unit of Norway-based Yara International ASA for Rs 2,670 crore, as it seeks to position itself as a maker of consumer products rather than fertilizers,” reported Mint and others.

NLSIU Bangalore 2002 graduate Bhavin Patel has joined as an of counsel in Mumbai the law firm Aureus Law Partners, which was started in 2013 by former HSA Advocates partner Abhishek Dutta (paywall link) and senior associate Rashmi Chaudhury, reported Bar & Bench.

CX Partners (a PE firm focused on the Indian mid-market) and Capital Square Partners sold for $420m its stake in Minacs to Concentrix Global Holdings Inc., a subsidiary of Synnex Corporation, as reported by the Economic Times as one of the largest in the business process outsourcing (BPO) sector, and Concentrix’ second largest deal.

“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.

Cyril Amarchand Mangaldas (CAM) general corporate partner designate Prerak Ved will join AZB & Partners as a counsel in Mumbai, we have confirmed from authoritative sources.

Cyril Amarchand Mangaldas (CAM) Mumbai competition partner Nisha Kaur Uberoi, who resigned on 22 May 2016, has joined AZB & Partners today after a notice period of over 9 weeks, confirmed AZB Mumbai managing partner Zia Mody when contacted.

K Law has hired as Delhi partners Abhishek Shinde and Atish Kumar Vatts, the two co-founding partners of Citius Law Partners, who did not join HSA Advocates in Bangalore with fellow co-founder Sharath Chandrasekhar in June.

Trilegal has opened an office in Gurgaon, and is relocating corporate practice partners Ravindra Bandhakavi, Harsh Pais, Yogesh Singh and Vaibhav Kothari there from its Delhi office.

Sankalp Dalal, the legal head of Times Music, will be joining Zee Music as its new legal head from August.

“Shanghai Fosun Pharmaceutical (Group) Co. Ltd, the Hong Kong-listed company controlled by billionaire Guo Guangchang, will acquire India’s Gland Pharma Ltd for $1.3 billion (Rs 8,700 crore), the company announced on Thursday. According to the agreement, Fosun will acquire an approximate 86% stake in Gland, including the 36% stake held by existing private equity firm KKR & Co,” reported Mint.

“State Bank of India (SBI) has kick-started the formal process of merging associate banks and Bharatiya Mahila Bank, which would create a banking entity with total assets worth about Rs 29 lakh crore. The bank has appointed merchant bankers, valuation consultants and law firms to complete the process,” reported The Economic Times.

“P C Jeweller will raise up to Rs 257 crore through issue of preferential shares to US-based investment firm Fidelity for business expansion,” reported the Economic Times.