CAM partner Sourav Kanti De Biswas joins unicorn Indus-AZB-client Oyo as VP with transactions focus

Fast-growing Oyo ramps up M&A vertical
Fast-growing Oyo ramps up M&A vertical

Cyril Amarchand Mangaldas Delhi-based partner Sourav Kanti De Biswas has joined gazillion-dollar-valued hotel chain Oyo as vice president legal last month.

He will be focusing on the in-house legal domestic and international transactions vertical at the fast-growing unicorn, which has vowed to become the world’s largest hotel chain by 2023, and boasts 850,000 budget rooms.

He is reporting to general counsel (GC) Rakesh Prusti, who had joined in 2018 from Max Healthcare.

Oyo has been a close client of AZB & Partners’, according to our deals database in 2018, having instructed the firm on a mammoth $600m fundraise last year, as well as its purchase of Weddingz, a banquets company, and of co-working space Innov8.

Update 21 August 2019: IndusLaw has also advised Oyo since 2014, including on its early 2019 fundraising round of $100m each from Asian ride sharing companies Grab and Didi, and $400m from Softbank.

Biswas is a 2005 NUJS Kolkata graduate, who had worked in-house at Reliance Communications and Avaya, before joining erstwhile Amarchand Mangaldas in Delhi in 2008.

He was made partner at its successor firm Shardul Amarchand Mangaldas (SAM) in 2015.

In November 2018, he joined Cyril Amarchand Mangaldas after four months of notice, as part of the move of SAM Delhi partner Akila Agrawal.

Cyril Amarchand Mangaldas managing partner Cyril Shroff commented: “We wish him well.”

We have reached out to Biswas for comment.

Comments

Aloo 20 Aug 2019, 17:01
+4 -0
CAM Partner to VP legal. Is that a promotion?
Moolah Rouge 21 Aug 2019, 07:48
+7 -1
His LinkedIn says he is now Deputy GC. It's not a bad punt given the rapid growth of Oyo given it's a Softbank darling and in the wake of the massive buyback purpotedly signed on by Ritesh. If he has been enticed with stock options as well, it may result in a solid payout, if all goes well, in a few years.
ElCid 20 Aug 2019, 17:40
+2 -3
Definitely not. Unless CAM was paying 35 lpa
CR 21 Aug 2019, 03:13
+8 -1
A VP Legal will be making way more than 35lakhs per month
Question 20 Aug 2019, 18:08
+3 -0
Isn't OYO an Indus client?
Everyones but no one 21 Aug 2019, 04:18
+0 -0
Har jagah hai OYO

Sab ka client ek - OYO
Alias 21 Aug 2019, 04:43
+0 -0
The headline wont sound nice as "Indus Client"!

https://barandbench.com/oyo-raises-1-billion-from-softbank-grab-didi-chuxing/
kianganz 21 Aug 2019, 07:08
+0 -0
Thanks, have updated the headline, we had missed that funding round. Anyone know if AZB is still advising them or if Oyo is all Indus now?
Lord 21 Aug 2019, 10:37
+2 -0
OYO was a client of Indus (M&A) and Link Legal (Banking, in house secondment, litigation (shared with Indus) and everything else) till arrival of GC Mr. Prushti. After him, around 50 lawyers have joined. Since his joining, except for transactions already done, AZB has been their go to guys for M&A.
In House Counsel 22 Aug 2019, 07:39
+0 -0
OYO's M&A and shareholder/ investor related matters are entirely handled by AZB now, with some work also going to Indus in cases of conflict.
Yeah 21 Aug 2019, 05:36
+3 -2
Yeah more or less, but they're increasingly moving work in-house. Their legal team is around 80% Tier 1 corp attorneys now and they're paying through the nose for it
Question mark 21 Aug 2019, 07:02
+6 -0
Pray who be he and what be his claim to fame?
What Nonsense 7 Sept 2019, 12:34
+1 -0
"gazillion-dollar-valued". Are you guys a legal editorship or childrens' bedtime story writers?