ALMT & 7-yr-old Delhi firm Obhan bill mPOS start-up Mosambee for $1m SIDBI seed

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Wednesday, 17 April 2013 By Legally India Private equity / VC

Obhan & Associates, which is run by Anand & Anand and AZB alumni, bags deal opposite ALMT.

Obhan & Associates advised Mumbai-based multi-mode payments start-up Mosambee, which received Rs 5.4 crore ($1m) in seed funding from SIDBI Ventures that drew in ALMT Legal.

Mosambee had instructed partner Ashima Obhan, who heads up the corporate and M&A practice at Obhan & Associates. She had joined the Delhi-based firm from AZB & Partners in 2011, where she was a senior associate.

ALMT Legal Mumbai partner Statira Ranina with senior associate Siddhi Ghatlia acted for SIDBI Ventures. The funding will be used by the mobile point of sales (mPOS) company for marketing aand scaling up in South East Asia and the western markets, according to Medianama. VCCircle reported that the company is run by Synergistic Financial Networks and started operating in Dubai three months ago. It is currently on pilot trials in India.

Obhan & Associates was started seven years ago by managing partner and patent lawyer Essenese Obhan, who had previously wokred with intellectual property (IP) specialist firm Anand & Anand.

Ashima Obhan said the 20-lawyer firm had recently inducted a third partner - Anupam Pandey - who specialises in trademarks and copyrights and used to work with her at AZB.

Photo by diaper

Obhan & Associates ALMT Legal

Comments

anaan 17 Apr 2013, 10:53

+3 -2

1 mill?? seriously????

kianganz 17 Apr 2013, 10:59

+6 -1

We aim to cover all segments of the market, within reason, and doing a $1m deal for a start-up company now could mean doing a $50m M&A for them when they grow.

But apart from that, I believe smaller and younger firms are worth covering - the big ones send out press releases anyway to ensure everyone reads about what they do anyway, and it's not like we ignore them either...

Disagree?

Lawyer 17 Apr 2013, 11:19

+3 -1

I appreciate that you're covering small law firms who have potential to grow and create employment opportunities in this otherwise slow market. However, I suggest you to present the news by using simple and rightly punctuated headlines which are easy to understand.

Guest 17 Apr 2013, 10:56

+4 -1

u guys can write the title of these articles in French, instead.

Redondo 17 Apr 2013, 11:43

+1 -1

I was actually really kicked to read about Obhan & Associates. Young and upcoming practices deserve coverage and it's an interesting sector.

That said, the title is a bit confusing! Please consider reviewing?

Wow! 18 Apr 2013, 05:38

+3 -0

Essenese is a remarkable lawyer and a wonderful person. Am very very glad to hear that his firm is doing well and good to see them on a page that is usually splattered with 4-5 names regularly. Its time the smaller firms that are doing good work get the recognition that they so rightly deserve.

Keep it up Essy!

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