Ashlar, start-up of PXV’s Pingal & Souvik, advises on Series A big data investment with NDA, P&C

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Tuesday, 12 August 2014 By Legally India Private equity / VC

Ashlar Law, the firm founded by former PXV & Partners partners Pingal Khan in Mumbai and Bangalore and Souvik Bhadra in Kolkata, has completed its first deal, advising “big data” company Indus Insights on its Series A funding by Unilazer and Hive India.

Khan, together with Kolkata-based associate Mohar Majumdar, advised Indus Insights on this first round of investment after having raised $90,000 from angel investors before, according to VCCircle.

Unilazer general counsel Archana Rajaram is understood to have led the legal advice on the investment in-house, assisted on due diligence by P&C Legal in Mumbai.

Hive India, the big data start-up fund by Amit and Arihant Patni, was assisted by Nishith Desai Associates (NDA) senior associates Karan Kalra and Sahil Shah.

Ashlar, which has a total of around five fee-earners right now in Mumbai, Bangalore and Kolkata, is currently in the process of finalising office space.

Khan and Bhadra started the firm after PXV was dissolved with three of its partners and some of their teams choosing to join Khaitan & Co.

Comments

OMG its PXV again! 12 Aug 2014, 13:36

+7 -1

Need i say More. :)

no way ho say 12 Aug 2014, 17:36

+6 -0

No.... No .... It's Ashler

Archana 12 Aug 2014, 14:19

+23 -1

Archana led the transaction.

Nda 12 Aug 2014, 14:21

+5 -11

Great going karan kalra

Mmt 18 Aug 2014, 19:15

+5 -0

This is not makemytrip.

abc 12 Aug 2014, 14:30

+9 -34

Are Kian and Prachi related to these people? You have given them more coverage than some leading firms. Why report on such a small deal by such junior lawyers?.

Kiano Reeves 12 Aug 2014, 19:25

+6 -11

Was there anyone in PXV who "chose" not to join Khaitan?

abc 13 Aug 2014, 08:41

+14 -6

obviously a marketing spiel by Khan and Bhadra.. only gullible chaps like Kian buys these things...

Pxv 14 Aug 2014, 12:12

+11 -0

Pingal

greek 14 Aug 2014, 13:41

+14 -0

Lmao!!

Deal Value 13 Aug 2014, 04:17

+7 -2

$90,000 is Rs 54 lacs - and that is deal value. What would the fees on a transaction like this be?

Wheeler dealer 13 Aug 2014, 07:32

+1 -0

The vccirle article says that the deal value of an earlier round was $90,000. Value of this one is not mentioned.

Better English 13 Aug 2014, 07:36

Where did you find that the deal value is 90,000? That is what the company seems to have raised previous to the transaction covered above.

Better grounding in English may help.

PJ 13 Aug 2014, 04:46

+32 -6

The number of firms founded by Rohit Das and Pingal Khan seem to be more than the number of girls married to Osama.

greek 14 Aug 2014, 09:40

+0 -0

[quote name="PJ"]The number of firms founded by Rohit Das and Pingal Khan seem to be more than the number of girls married to Osama.[/quote]

Please don't give these inspirational metaphors to anyone who can't distinguish cause, correlation and effect.

Guest 13 Aug 2014, 07:35

+9 -4

ha ha! USD 90000. Is that some sort of a joke??
I just closed my Leave and Licence Agreement for my house which I am taking on rent. Two year term - Rs. 30 lacs over two years. The deal involved extensive negotiations on when I get my deposit back. LI should report this.
Also, Ashlar has five fee earners in Mumbai, Bangalore and Kolkata. And they don't have an office space yet!!!!! Which kind of client will go to a firm which does not have an office???!!!

kianganz 13 Aug 2014, 07:36

+3 -3

Please read properly - the first round of angel investments was 90k, here the value was not disclosed so it was presumably a fair bit higher than that...

hubb 20 Aug 2014, 12:44

not necessarily. in fact deal sizes are kept "confidential" often not because of confidentiality reasons but embarassment reasons.

and why would someone logically highlight lower value series a funding and keep quiet about higher value series b funding?

Better English 13 Aug 2014, 07:41

Again please read that the deal value of this round is not ninety thousand.

Scooty 13 Aug 2014, 08:06

+10 -0

Maybe the client who had lost his money by going to a lawyer earlier who can't even read and understand English but has a nice comfy office where from he can comment on LI

Bling 13 Aug 2014, 08:39

+7 -7

Obviously this was a spillover PXV deal- something so small they could not take to KCO

Moby 13 Aug 2014, 12:56

+11 -2

I only want to point out to you that you are being royally f**ked on rent.

WTF 13 Aug 2014, 10:35

+3 -0

Ashlar - masonry made of large square-cut stones, used as a facing on walls of brick or stone rubble...

Can someone explain?

These PXV Nonsense 13 Aug 2014, 12:01

+2 -0

OK Kian so you are gullible or may be like this bunch of guys or plain care about writing. I don't know. wonder though why any news on this bunch attract so many comments.

babelfish 13 Aug 2014, 13:12

+4 -0

Yeh kya Inglis hai?

Achche din 14 Aug 2014, 05:30

+5 -7

Go archana

Good Boy 15 Aug 2014, 17:31

+4 -1

All the best Pingal Khan Bhaduri!

Commenting is closed for this article.