PXV, JSA on French defence JV with Hical

Wednesday, 25 September 2013 By Legally India Corporate M&A

PXV Law Partners and French best friend law firm DS Avocats advised French defence electronics group NSE Industries in a joint venture with Bangalore-based Hical Technologies, which was advised by J Sagar Associates (JSA).

PXV Delhi partner GT Thomas Phillippe and DS Advocats Paris partner Olivier Monange acted for NSE Industries, which received the Foreign Investment Promotion Board’s (FIPB) approval for this Rs 1 million ($17,000) foreign direct investment in May of this year.

JSA Bangalore partner Murali Anandasivan and senior associate Mary Julie John acted for Hical.

PXV Law PartnersJ Sagar Associates (JSA)

Comments

AC 25 Sept 2013, 11:18
+1 -1
LI - No offence to anyone, but don't you think a transaction size of Rs. 10 lakh is not worth reporting unless there is any significant issues which were raised by FIPB and might be a guiding principle for similar transactions in future ? IMHO a deal should be reported based on its significance in the market or the industry coupled with the deal size (though deal size should not always be the factor).

For example, in the Jet - Etihaad deal, FIPB approved it subject to some conditions. So, I think that was worth reporting since the very deal would impact many stakeholders in the aviation industry.
kianganz 25 Sept 2013, 11:25
+13 -1
It's not a big deal, agree, but it was an FDI deal that included one established firm, one foreign firm, and one start-up, which makes it interesting and different from say, Amarchand, AZB, and [insert firm here] doing another large deal.

We try to cover start-ups often to give an insight into what they get up to. If it's smaller deals, that in itself is interesting. And it was covered by a pretty prestigious defence industry magazine, and defence appears to be a sector that a lot of legal firms are interested in.

As an aside, I think Rs 10 lakh was the cash investment value, but the total non-monetary value of the JV would most likely be bigger?
ABC 25 Sept 2013, 12:11
+6 -0
Very sensible response! [quote name="kianganz"]It's not a big deal, agree, but it was an FDI deal that included one established firm, one foreign firm, and one start-up, which makes it interesting and different from say, Amarchand, AZB, and [insert firm here] doing another large deal.

We try to cover start-ups often to give an insight into what they get up to. If it's smaller deals, that in itself is interesting. And it was covered by a pretty prestigious defence industry magazine, and defence appears to be a sector that a lot of legal firms are interested in.

As an aside, I think Rs 10 lakh was the cash investment value, but the total non-monetary value of the JV would most likely be bigger?[/quote]
Guest 25 Sept 2013, 14:08
+0 -1
[quote name="kianganz"]It's not a big deal, agree, but it was an FDI deal that included one established firm, one foreign firm, and one start-up, which makes it interesting and different from say, Amarchand, AZB, and [insert firm here] doing another large deal.

We try to cover start-ups often to give an insight into what they get up to. If it's smaller deals, that in itself is interesting. And it was covered by a pretty prestigious defence industry magazine, and defence appears to be a sector that a lot of legal firms are interested in.

As an aside, I think Rs 10 lakh was the cash investment value, but the total non-monetary value of the JV would most likely be bigger?[/quote]

I wonder how much the fees/legal costs would have been for this transaction?
AC 26 Sept 2013, 10:24
+0 -0
Point noted Kian, thanks for explaining.
DC 26 Sept 2013, 06:41
+4 -0
Dont think there are too many approvals given by the FIPB in the defence sector so that itself is significant
Superman 25 Sept 2013, 12:37
+2 -20
I renovated my house for 15 lacs .. deal was with the thekedar .... please report
Sitaram Gadkari 25 Sept 2013, 14:06
+1 -16
I paid 12 Lakhs to Mahindra for my car, from the start up import-export business. Please Report.
Khosla 25 Sept 2013, 18:05
+9 -0
[quote name="Sitaram Gadkari"]I paid 12 Lakhs to Mahindra for my car, from the start up import-export business. Please Report.[/quote]

Sorry, even if you buy a rolls royce for a few crores and a mansion for a few tens of crores once your import export flourishes, kian is highly unlikely to report it. Perhaps you should pull a few strings and try getting it published on the notice board of the club where you import export folks hang out. Even better, try word of mouth publicity through kitty parties hosted for this purpose by spouse/parent/sibling :)
Sitaram Gadkari 26 Sept 2013, 15:29
+0 -0
Point taken boss
Scooter 26 Sept 2013, 04:27
+0 -0
Nice. PXV is kicking @$$ of the former firm. Now-a-days we know how happy the associates are by comments on legally india. Not a single bad thing written about PXV. Commendable. Congrats to those who worked on this deal. French firm DS Avocats seems to have gotten PXV this deal. They seem to have made the right decision sticking around PXV and helping it grow.
Old NALSAR Boy 26 Sept 2013, 06:24
+7 -7
[quote name="Scooter"]Nice. PXV is kicking @$$ of the former firm. Now-a-days we know how happy the associates are by comments on legally india. Not a single bad thing written about PXV. Commendable. Congrats to those who worked on this deal. French firm DS Avocats seems to have gotten PXV this deal. They seem to have made the right decision sticking around PXV and helping it grow.[/quote]

The reason you see no backlash from PXV Associates is probably because the PXV internet connection sucks.
loony toon 26 Sept 2013, 06:56
+2 -0
[quote name="Old NALSAR Boy"][quote name="Scooter"]Nice. PXV is kicking @$$ of the former firm. Now-a-days we know how happy the associates are by comments on legally india. Not a single bad thing written about PXV. Commendable. Congrats to those who worked on this deal. French firm DS Avocats seems to have gotten PXV this deal. They seem to have made the right decision sticking around PXV and helping it grow.[/quote]

The reason you see no backlash from PXV Associates is probably because the PXV internet connection sucks.[/quote]

they are based out of south delhi and seem to have a pretty decent hardline. it's not the connection that is the problem..

there is no backlash because none is required to be made at this time. your concern however has been noted.
Stratocaster 26 Sept 2013, 07:20
+2 -0
[quote name="Old NALSAR Boy"][quote name="Scooter"]Nice. PXV is kicking @$$ of the former firm. Now-a-days we know how happy the associates are by comments on legally india. Not a single bad thing written about PXV. Commendable. Congrats to those who worked on this deal. French firm DS Avocats seems to have gotten PXV this deal. They seem to have made the right decision sticking around PXV and helping it grow.[/quote]

The reason you see no backlash from PXV Associates is probably because the PXV internet connection sucks.[/quote]

By that logic, [---] and [---] should have the fastest connections in India at least and Vault top ranked firms like WLRK, Jones Day etc. would not even be aware the internet exists. You sound more like a young NUJS boy.
ABC 27 Sept 2013, 03:56
+2 -0
Please grow up and stop these silly innuendos and stupid college rivalries! We have seen enough of these petty and trivial potshots whenever there is any LI report on PXV and RDA. Guys, please grow up. Lean periods and meaty work can be seasonal and anyone can have either at some point of time or the other. So just grow up, focus on one’s own work and stop getting smaller and smaller. For some better wisdom and insight, read something like the LI’s interview with Sidnarth Luthra on his younger days.
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