Corporate M&As continued to buttress law firm activity, while one NUJS graduate sweated it out with a high profile Delhi high court case. Khaitan & Co also kept busy in finance and capital markets, and projects and private equity proved solid.
Corporate/M&A
Builder Sushil Pandurang Mantri bought 51 per cent equity in investment management company Azure Capital Advisors for Rs 3 crore Sushil Pandurang Mantri: Amarchand Mangaldas partner Reeba Chacko Azure Capital Advisors: IndusLaw
French automobile-interiors company Treves SA purchased 50 per cent equity in a special purpose vehicle it formed with Indian textile manufacturer Banswara Syntex Treves SA: J Sagar Associates (JSA) partner Sandeep Mehta and associates Raji Radhakrishnan and Malav Shah Banswara Syntex: In-house
Chennai-based conglomerate Murugappa Group’s Tube investments bought 44.12 per cent equity for Rs 292 crore in Coimbatore-based gear-box manufacturer Shanthi Gears, from promoter P Subramanian and two other promoters Tube Investments: Amarchand Mangaldas partner Arjun Lall P Subramanian and other promoter-sellers: Trilegal partner D Pavan Kumar, counsel Christopher Krishnamoorthy and associate Emil Joseph
Hard Rock Café franchisee JSM Corporation’s JSM GGC Restaurants group bought franchise rights in international frozen yoghurt brand Pinkberry JSM GGC: I&S Associates partner Bakhtiar Sunavala and associates Shrinivas Sankaran and Puja Shah Pinkberry: Remfry & Sagar
Wallet, handsets, and passport recovery service provider OneAssist Consumer Solutions set-up business opeartions in Mumbai OneAssist: I&S Associates partner Anuradha Iyer and associates Shrinivas Sankaran and Puja Shah
Indo-Omani joint venture Oman India Joint Investment Fund (OIIF) bought 19.64 per cent equity for Rs 54 crore in software-integrated hardware manufacturer Indus Teqsite OIIF: Khaitan & Co partner Sharad Abhyankar Indus Teqsite: In-house
Japanese IT solutions provider Nomura Research Institute bought Indian software solutions and software development service provider Anshin Software Nomura Research Institute: Khaitan & Co partners Rabindra Jhunjhunwala and Sanjay Sanghvi, and Japanese law firm Morrison Foerster LLP Anshin Software: In-house
British marketing and supply chain optimiser Communisis bought Anglo-Indian digital media web development and maintenance company Kieon Communisis: Khaitan & Co partner Rajiv Khaitan, and British law firm Ward Hadaway Kieon: British law firm Peachey & Co LLP
Chinese wind turbine manufacturer China Ming Yang’s Singapore subsidiary Ming Tang Holdings bought majority stake in Reliance Capital’s group company Global Wind Power China Ming Yang: AZB & Partners Global Wind Power: Amarchand Mangaldas partners Vandana Shroff and Alice George
Project finance
Rural electrification PSU Rural Electrification Corporation, infrastructure financing PSU India Infrastructure Finance Company (IIFC) and infrastructure financer SREI Infrastructure Finance (SREI) funded Rs 730 crore for phase two of development of privately owned Tamil Nadu thermal power plant Nagai Power Rural Electrification Corporation: Khaitan, Sud & Partners principal associate Sujeet Das and senior associate Debashis Satapathy IIFC, SREI and Nagai Power: In-house
Bank of Baroda-led consortium of seven banks extended Rs 8 lakh to public-private colour-coated steel dealer Asian Colour Coated Ispat for capacity addition in its Rs 991 crore Steel project in Maharashtra Bank of Baroda led consortium: Khaitan, Sud & Partners partner Tanuj Sud, with associates Jayant Gupta and Bhumika Tripathi Asian Colour Coated Ispat: In-house
Banking & Finance
Bank of India’s Singapore branch extended Rs 55 crore to leading Indian Polyester filament yarn manufacturer Wellknown Polyesters Bank of India: Khaitan & Co partner Devidas Banerji Wellknown Polyesters: In-house
Yes Bank bought its home loans with underlying mortgages for Rs 110 crore as a ‘pool buyout’ Yes Bank: Khaitan & Co partner Shishir Mehta
Axis Bank issued a term loan of Rs 128 crore to agribusiness house Usher Agro which will set up a rice milling plant in Uttar Pradesh Axis Bank: Khaitan & Co partner Shishir Mehta Usher Agro: In-house
Bank of India extended Rs 55 crore to Indian pharmaceutical company Ind-Swift Bank of India: Khaitan & Co partner Devidas Banerji, and international law firm TLT Solicitors
Trilegal, Amarchand on 25-bank record time $1.5bn debt restructure of Hind Construction
Private equity and venture capital
PE firms NYLIM Jacob Ballas and International Finance Corporation funded compulsory convertible preference shares of Rs 370 crore in healthcare diagnostic Super Religaire Laboratories (SRL) SRL: Vaish Associates partner Bomi Daruwala, principal associate Arti Narsana, head-corporate Vikas Keyal, and associate Sandhya Arora NYLIM Jacob Ballas and International Finance Corporation: AZB & Partners
Bangalore-based property developer Brigade Enterprises invested Rs 209 crore in Indo-Singapore real estate joint venture Brigade Properties which purchased land for Rs 120 crore from consumer goods company Hindustan Unilever for development of a residential project Brigade Enterprises: Amarchand Mangaldas partners Arjun Lall and Namrata Kolar Government Investment Corporation (Singapore side on the joint venture): AZB & Partners Hindustan Unilever Limited: J Sagar Associates (JSA) partner Vivek Chandy and senior associate Malini Raju
JSA, NDA, Fox Mandal, Linklaters, 40 advisers go Dutch on Rs. 770 cr Godrej investment
PXV opposite NDA in early stage Patni-family TranServ VC deal
Capital Markets
Mahindra & Mahindra micro-irrigation subsidiary EPC Industrié issued shares worth Rs 41.4 crore EPC Industrié: Khaitan & Co partner Vibhava Sawant
Litigation
Indian Airlines subsidiary Airline Allied Services (AASL) air hostess Salome Singsit won against former employer of 14 years AASL, in the Delhi high court. Singsit had challenged a service-contract termination order issued to her by AASL, which claimed she was overweight and not fit for duty. Judge decided termination was potentially justified if it had not been caused by her health, and airline should re-employ petitioner, potentially in another capacity [Indian Express] Salome Singsit: NUJS 2008 graduate Ashwarya Sinha AASL: Link Legal partner Milanka Chaudhary
Fox Mandal files winding up against Essel Sports in BHC opposite ALMT
Competition Commission
Singapore investment company Schroder Investment Management (SIM) obtained CCI clearance for buying 25 per cent equity in the asset management and trustee company of Indian mutual fund Axis Mutual Fund SIM: Amarchand Mangaldas partner Nisha Kaur Uberoi
Leading global textile manufacturer Welspun India obtained CCI clearance for its merger with textile-supplying major Welspuin Global Brands and largest Indian home-furnishing retailer Welspun Retail Welspun: Khaitan & Co counsel Avaantika Kakkar
If you would like your deals included in future deals round-ups, please send us an email at with details of the transaction and lead partners.
Photo by lemonhalf
Comments
[quote name="Go Kian"]Kian - step up and acknowledge. You have a sure fire strategy of putting "NUJS" in a headline and getting huge number of hits! Be brave and admit it :)[/quote]
I don't know about a strategy, but I think efforts of all grads, never mind background, are sought to be uniformly appreciated out here. Kudos to LI for that. Young folks fighting it out in litigation can always do with a few pats on the back. Congratulations to Aishwarya and others of the same ilk, am sure such people will make more headlines in time to come. :)
As for disgruntled others, whose best shot at feel-good these days is to relive the heady glory of bashing 'that law school' anonymously, cheers! Such people, of course, are sweating it as usual in office, earning enough to buy their fluffy, pink pyjamas and that cool laptop, yet seemingly with nothing better to do in the end than to use the laptop for typing out such soul stirring and heartwarming malice.
lom tiki tiki?
Perhaps the other 4-5 newspapers which covered that case were also mistaken in assuming that it was of some relevance. Forget the 'other law schools involved in more prominent cases'. Perhaps you'd have achieved something yourself worth mentioning here? Or maybe a lease agreement is just about as far as you've gotten?
Funny to see the trend of anonymous comments on LI posts - rarely congratulatory, mostly one frog stuck in a well trying to pull a leaping frog back into the pond. Sir, you and your distasteful comment are disappointing.