JSW Steel has entered into an agreement with JSM International, Acero Junction Holdings and Acero Junction Inc. to acquire 100% shareholding in Acero Junction, in the US for a cash consideration of $80.85 million. — The Economic Times The deal closed in June 2018. Economic Laws Practice (ELP) advise...

Stellar Value Chain Solutions Pvt. Ltd. (Stellar), a third-party logistics services company, has announced the 100 per cent acquisition of “Patel Roadways” business, the surface transportation arm of Patel Integrated Logistics Ltd. (PILL). — Newstoday Economic Laws Practice (ELP) advised Innovative ...

SAMHI Hotels Private Limited acquired 33% shareholding of SAMHI JV Business Hotels Private Limited from Luxury Singapore Holding Company Pte Ltd., an entity of the Marriott Group. Consequent to such acquisition, SAMHI Hotels Private Limited holds 100% of the shareholding of SAMHI JV Business Hotels ...

M1xchange, run by Mynd solutions Pvt. Ltd., has raised a Series-A round of venture capital from Mayfield India and SIDBI Ventures. — The Economic Times Economic Laws Practice (ELP) advised Mayfield India II Limited led by a team of partner Shyam Pandya , associate manager Alysha Razvi , associate ma...

Reliance Brands has purchased an additional 12.56 per cent stake in Genesis Colors Limited (GCL) for about Rs 52.77 crore, taking its total holding in the company to 46.39 per cent. “This is to inform that Reliance Brands, a subsidiary of the Company, has purchased an additional 12.56 per cent equit...

Private equity firm Neev Fund, which is backed by State Bank of India and UK’s Department for International Development, has invested an undisclosed amount in Mahendra Educational Pvt. Ltd, the PE firm said. — VCCircle Economic Laws Practice (ELP) advised Neev Fund led by a team of partner Shyam Pan...

Pune-based industrial Internet of Things (IoT) startup Infinite Uptime has raised $5 million (Rs 34.5 crore) in a Series A funding round from a clutch of venture capital and private equity firms, a company statement said. — VCCircle Economic Laws Practice (ELP) advised Mayfield India II Limited and ...

French luxury goods conglomerate LVMH-backed private equity firm L Catterton Asia will acquire 10 per cent stake in Kishore Biyani-led Future Lifestyle Fashions (FLFL) for an undisclosed sum. L Catterton Asia will acquire an approximately 10 per cent stake in FLFL through a mix of preferential allot...

Google India and Tata Trusts announced the expansion of its ‘Internet Saathi’ program in the state of Tamil Nadu on Wednesday. Google India will facilitate the provision of Google Cloud credits and access through its affiliate, for eligible startups engaged with Tamil Nadu Government’s startup initi...

India’s largest public sector lender State Bank of India (SBI) has invested an undisclosed amount from its Neev Fund in Indian solar player SunSource Energy, for developing solar project assets in states with low levels of capital investment, the company said in a statement on Friday. SunSource Ener...

Sahajanand Medical Technologies (SMT), a manufacturer of cardiac stents, on Wednesday said it has raised Rs230 crore in a funding round led by Morgan Stanley Private Equity Asia. — Mint Economic Laws Practice (ELP) advised previous investor Samara Capital , which also joined the round, led by a team...

Issuance of Non- Convertible debentures by Coventry Properties Private Limited to funds managed by Motilal Oswal Real Estate Investment Advisors II Private Limited. The Non-Convertible debenture were issued to fund a real estate project in Sewree, Mumbai. ELP advised Coventry Properties Private Limi...

Investment by Multi Act Trade & Investments Private Limited in Aureus Analytics Limited (Singapore). ELP advised Multi-Act Trade & Investments Private Limited led by a team of partner Bhavin Gada , associate manager Soumya Shanker , associate Sharan Sanil , associate Mehak Gupta . Investme...

Mumbai-headquartered national firm Economic Laws Practice (ELP) has promoted four of its associate partners to equity partner level, and one associate director to director level, increasing the total size of its equity partnership to 11.

The famous contract law principle ‘caveat emptor’ – Buyer Beware – is often used in commercial transactions involving M&A and other financial and strategic investment deals. Information asymmetry between a buyer and seller necessitates robust due diligence exercise on targets and promoters pre and post such transactions. While traditional methods of due diligences help in uncovering broader business, financial and legal risks, recent times of increased liability of directors, calls for transparency, and reporting requirements have magnified the relevance of micro-level due diligence.

Succession planning for safeguarding and optimal transitioning of wealth and control are emerging as a critical consideration for businesses in India, many of which are family owned/controlled and are characterized by significant promoter family stakes. While wealth preservation, ring fencing key assets and tax-optimized transfer to the next generation were the guiding features of such exercises earlier on, modern businesses look at corporate succession planning with the added lens of ensuring business continuity and operational competitiveness. In this context, promoters and companies need to reflect upon additional factors such as choice of successors (who may not necessarily be only from the family), composition for the board post-transition and rights of the promoters (including their successors), amongst others.

Let us start with some statistics about India’s economy: (a) Starting from USD 452 billion in 1999, India’s GDP crossed USD 2.6 trillion by 2017 – a growth of almost 6 times1 during a period when global GDP increased by only 2.5 times; (b) Per capita income nearly trebled in the past two decades; and (c) Total exports from India (merchandise and services) have increased 8.73 per cent year-on-year in 2018-19 (up to February 2019) to reach USD 483.92 billion, while total imports have increased by 9.42 per cent year-on- year to USD 577.31 billion2.Increasing protectionism, the US-China trade dispute and uncertainty around Brexit have contributed to the lowest global trade volumes in 9 years.

Fairfax India Holdings Corp, part of Canadian billionaire Prem Watsa’s Fairfax Holdings, on Friday announced that it has invested approximately $72.1 million (Rs 500 crore) for a significant minority stake in Seven Islands Shipping Ltd. — Dealstreetasia AZB & Partners advised FIH Mauritius Inve...

“Sapphire Foods, the largest franchisee of Yum! Brands Inc. in the Indian subcontinent, has raised ₹ 225 crore in a fresh round of funding led by Edelweiss Private Equity, said a senior executive of the company. Existing investor Goldman Sachs, too, participated in the round, said Sanjay Purohit, gr...

“DeHaat, an online marketplace for farm products and services, said it has raised ₹30 crore in a funding round led by impact investor Omnivore. US-based agriculture investor AgFunder and several angel investors too participated in the pre-series A round,” reported Mint . Desai & Diwanji advised...