Exclusive: Desai & Diwanji has advised German consumer goods company Henkel AG on the sale of its Indian subsidiary for a total of Rs 118 crore ($26m) to Jyothy Laboratories, which was advised by AZB & Partners.

Khaitan & Co, AZB & Partners and international firm Morrison Foerster have advised on India’s largest heat-withstanding materials manufacturer Tata Refractories’ sale of a 51 per cent stake to Japanese conglomerate Krosaki Harima for $128m.

ALMT Legal, Khaitan & Co and Crawford Bayley have grabbed the maximum number of rights issue mandates in the financial year (FY) 2010-2011.

Exclusive: J Sagar Associates (JSA) has made up six new retained partners and 13 new senior associates across its offices, matching last year’s promotion record.

Exclusive: Economic Laws Practice (ELP) and Australian firm Blake Dawson have advised Adani Enterprises-owned Mundra Port and Special Economic Zone Limited (MPSEZ) on its acquisition of Australia’s Abbot Point coal terminal for $2bn.

Exclusive: Amarchand Mangaldas and AZB & Partners advised on Tata Power’s $450m (Rs 2,000 crore) hybrid bond, which is the first such issue denominated in US Dollars by an Indian corporate.

Exclusive: Khaitan & Co has hired a Delhi start-up founder and ex-J Sagar Associate (JSA) partner Abhilekh Verma into its partnership in Bangalore.

Exclusive interview: ALMT will re-build its Delhi and London offices after its split from foreign best friend firm Clyde & Co and five partners, vowed ALMT Mumbai partner Aliff Fazelbhoy.

Milbank Tweed Hadley & McCloy has hired India group lawyer Sanjeet Malik as an of counsel in its Hong Kong office from Cleary Gottlieb Steen & Hamilton where he was an associate.

K Law and Vaish Associates have advised on the Rs 100 crore ($22.5m) pre-IPO private equity investment by Avigo into Super Religare Laboratories.

Breaking exclusive: ALMT Legal has ended its best friendship with Clyde & Co as it is parting ways with five partners across Mumbai, London and Delhi who will create new start-up firm Clasis Law with a partner joining from the international firm.

Amarchand Mangaldas has taken an early lead in the 2011 Indian first quarter project finance rankings, racking up higher deal values than both Link Legal and last year’s busiest firm Luthra & Luthra combined, followed by Trilegal and Fox Mandal.

Vaish Associates Advocates and Dua Associates’ Amarchand Mangaldas partner lateral hire have advised on German tyre manufacturer Continental AG’s full buy-out of Indian Modi Tyres.

**Breaking: Amarchand Mangaldas Bangalore, Luthra & Luthra and Clifford Chance have led on Petronas International’s $2.1bn exit of Vedanta Resources-part-owned Cairn India, according to lawyers on the deal.

DLA Piper has promoted 1997 NLSIU Bangalore graduate and foreign law firm veteran Biswajit Chatterjee to its partnership in Singapore.

The year-old Chennai writ petition against 31 foreign law firms in India has been adjourned to 2 August with the filing of an affidavit by the government today.

Juris Corp partner Huzefa Nasikwala is going independent to start his own litigation and real estate practice in Mumbai.

Exclusive: AZB & Partners, Khaitan & Co and Desai & Diwanji have topped mergermarket’s M&A league table by volume, each having recorded 11 deals in the first three months of 2011.

ALMT Legal advised UK food services firm Compass Group on its acquisition of two companies, one of which was advised by SNG & Partners.

Exclusive: Amarchand Mangaldas has lost ground in its lead over Luthra & Luthra and surprise performer AZB & Partners in the initial public offering (IPO) league tables for the 2010-11 financial year, while DLA Piper came from nowhere to top the rankings of foreign firms ahead of Dorsey & Whitney and Jones Day.