Recent Posts

DSK Legal CEO Padmini Rathore to join Khaitan & Co.

 

LE Correspondent

 

New Delhi, May 1, 2023: Padmini Rathore, the CEO of top law firm DSK Legal, is joining competitor firm Khaitan & Company, sources have informed LegitEye.

 

Ms Rathore will soon take over her new role of Chief Practice Officer at Khaitan & Company and will function from their Delhi office.

 

Ms Rathore joined DSK Legal in February 2018 as the Chief Executive Officer. Prior to that she worked with Cyril Amarchand Mangaldas as Director, Business Planning and Compliance (Managing Partner’s Office) and Director, Strategy.

 

She is an alumnus of the Mudra Institute of Communications (MICA), Ahmedabad and also attended an Executives’ program at the Harvard Business School.  

DSK Legal advises Excel Controlinkage, Promoters regarding sale of their shareholding to Greaves Cotton

LE Desk

New Delhi, April 29, 2023:  DSK Legal has advised Excel Controlinkage Private Limited and its Promoters in relation to sale of their 100% shareholding in Excel to Greaves Cotton Limited (GCL) in four tranches, the Law Firm has said.

The first tranche will comprise of sale of 60% shareholding in Excel. The deal value is approximately Rs 385 crores, it said.

The scope of work of DSK Legal included: (i) reviewing, revising, negotiating and finalizing the transaction documents including the binding term sheet, the share purchase agreement and the shareholder’s agreement; and (ii) assisting in the execution of the transaction documents. Going forward, DSK Legal will be involved in closing of various tranches of the transaction including assisting in fulfillment of conditions precedent and other completion deliverables.    

The team representing DSK Legal comprised of Kunal Mehra (Partner), Danish Khan (Principal Associate) and Aakrit Aditya Sharma (Associate).

GCL was represented by JSA. Singhi Advisors acted as the investment bankers to Excel and its Promoters, the statement said.

Excel is one of the largest players in mechanical and electronic motion control systems with an integrated capability to manufacture push pull cables, levers & sensors, the Law Firm said. Excel’s portfolio includes heavy‐duty push‐pull cables, mechanical levers & linkages, and electronic throttle levers catering to customer segments like commercial vehicles, construction equipment, agriculture, material handling, marine and SPVs, supplying directly to vast majority of the original equipment manufacturers as well as for aftermarket.

DSK Legal advices, represents Red Chillies Entertainments in suit filed in Delhi HC seeking restraining of social media platforms from committing any infringement in relation to its forthcoming film ‘Jawan

LE Desk

 

New Delhi, April 26, 2023:  DSK Legal has advised, assisted and represented Red Chillies Entertainments Pvt. Ltd in a suit filed on their behalf before the Delhi High Court against Ashok Kumar/ John Doe, Twitter INC, Youtube LLC, Google LLC, Reddit INC and 35 others, seeking restraining and injunctive reliefs against the defendants from committing any infringement in relation to its forthcoming cinematographic film ‘Jawan’ or any part thereof.

The film stars well-known actors like Shah Rukh Khan, Nayanthara, Vijay Sethupathi and others, and is directed by Atlee Kumar. The said film is scheduled to be released on 2nd June 2023.

The DSK Legal team comprised of Partners Parag Khandhar and Chandrima Mitra. They were assisted by Advocate Krishan Kumar, the Law Firm said in a press statement.

Senior Counsel Rajshekhar Rao along with Counsel Nizamuddin Pasha were briefed in the matter, it said.

DSK Legal advises SRL Limited in acquisition of business of Lifeline Laboratories

LE Desk

 

New Delhi, April 17, 2023: DSK Legal has advised SRL Limited, a subsidiary of Fortis Healthcare Limited, in relation to acquisition of the business of Lifeline Laboratories to expand SRL’s footprint in Delhi NCR region in the diagnostic services domain, the Law Firm has said. 

 

DSK Legal assisted and advised SRL Limited on all legal aspects of the transaction, including: conducting legal due diligence of Lifeline Laboratories;

transaction structuring, drafting, negotiating, and finalizing the definitive agreements for the acquisition of the business undertaking; assisting in closing of the transaction, the Firm said in a press statement.

 

The team representing DSK Legal comprised of Jayesh Kothari (Partner), Rajlaxmi Kale (Senior Associate), Sharmishtha Bharde (Associate) and Kais Umani (Associate). Hemang Parekh (Partner) acted as engagement partner for the transaction.

 

Lifeline Laboratories is engaged in the business of providing diagnostic services with its operations located in the Delhi-NCR region.

DSK Legal advises Religare Enterprises in acquisition of 100% shareholding of MIC Insurance Web Aggregator from iGear Holdings

LE Desk

 

New Delhi, April 13, 2023: DSK Legal has advised Religare Enterprises Limited in relation to its acquisition of 100% shareholding of MIC Insurance Web Aggregator Private Limited from iGear Holdings Private Limited, an Indian Express Group entity, the Law Firm has said.

DSK Legal assisted and advised Religare on the legal aspects of the transaction such as conducting the legal due diligence, transaction structuring, drafting, reviewing, and finalising the definitive agreements for the acquisition of 100% shareholding of the Target Company, the Firm said in a press statement.

The legal due diligence exercise team comprised of Chirag Jain (Principal Associate), Amrita Mehdiratta (Senior Associate), Parikalp Gupta (Associate), and Aankhi Anwesha (Associate).

The transaction structuring, drafting, and finalisation of the definitive documents was led by Rishi Anand (Partner) along with Chirag Jain (Principal Associate), and was assisted by Snigdha Prakash (Associate).

With this acquisition, Religare aims at expanding its foothold in the insurance distribution space, the statement said.

The Target Company, as the country’s first IRDAI approved and registered insurance web aggregator, operates a portal at www.myinsuranceclub.com.

DSK Legal advises Redcliffe Labs on acquisition of Medicentre Sonography & Clinical Lab

New Delhi, April 10, 2023: DSK Legal has advisedRedcliffe Labs on the acquisition of Medicentre Sonography & Clinical Lab by way of a slump sale transaction, the Law Firm has said.

DSK Legal assisted and advised Redcliffe on all legal aspects of the transaction, including conducting legal due diligence, transaction structuring, drafting, negotiating, and finalizing the definitive agreements, and closing of the acquisition transaction, the firm said in a press statement.

The team representing DSK Legal comprised of Nakul Batra (Partner), Palak Sehgal (Senior Associate), Kunal Garg (Associate), Snigdha Prakash (Associate), Udit Rao (Associate) and Yash Tiwari (Associate). Rishi Anand (Partner) was the engagement partner for the transaction.

Medicentre was advised by Law of Madhavan Srivatsan (LOOMS).

Medicentre is engaged in the business of providing diagnostic services, with its operations located across the state of Rajasthan via multiple diagnostic laboratories, collection centres, and hospital labs management.

The deal will expand Redcliffe’s footprint in India in relation to the delivery of diagnostic services, the statement said, adding that the consideration payable to the sellers was a mix of cash and equity.

DSK Legal shifts to new offices in Mumbai & Pune

By LE Desk

 

Mumbai, April 8, 2023: In line with its continuing growth, DSK Legal has shifted to larger offices in Mumbai and Pune, the Law Firm has said.

 

Equipped with the necessary amenities and state-of-the-art infrastructure, the new offices will provide a harmonious work environment for lawyers and clients, it said in a press statement.The Mumbai office is now the entire 17th floor in Tower 2B at One World Centre, and the Pune office is on the ground floor at 1 Modibaug, Shivajinagar.

 

The Firm’s Managing Partner, Mr Anand Desai, said, “We are delighted to continue to grow our firm, and to have excellent office space to meet our requirements.”

 

At present, the Firm has 66 Partners and Associate Partners, and over 250 advocates across offices in Mumbai, New Delhi, Bengaluru, Pune and Hyderabad, the statement said.

DSK Legal appoints 4 Partners, 3 Associate Partners

By LE Desk

New Delhi, April 3, 2023: DSK Legal has promoted Associate Partners Abhishek Singh Baghel, Jayesh Kothari, Mitali Naik and Nakul Batra as Partners,and Principal Associates Akanksha Tiwary, Prachi Garg and Prachi Gupta as Associate Partners, the Law Firm has announced.

With this round of promotions, the Firm has 57 Partners and 9 Associate Partners across its offices in Mumbai, New Delhi, Bengaluru, Pune and Hyderabad, it said in a press statement. 

1. Abhishek Singh Baghel - Abhishek is experienced in Competition Law – litigation, advisory, policy and compliance, and represents clients in matters before the Competition Commission of India, Appellate Tribunal, High Courts and the Supreme Court of India. Abhishek also has experience in Media Law, and regularly represents high profile clients from the Indian film Industry and film production studios.

2. ​Jayesh Kothari - Jayesh has extensive experience in corporate and commercial law, including in the areas of cross-examination-border M&A, Private Equity/Venture Capital transactions, and advisory work, across various industry sectors.

3. Mitali Naik - Mitali has extensive experience in real estate laws and transactions, including for real estate developers and financiers (equity and debt).

4. Nakul Batra - Nakul is experienced in corporate and commercial laws, including M&A, Private Equity/Venture Capital transactions. He is also a computer science engineer, and his practice has a particular focus on technology and data protection laws.

5. Akanksha Tiwary - Akanksha is experienced in corporate and commercial laws, including M&A, Private Equity/Venture Capital transactions in the private and public space, as also strategic alliances and joint ventures involving domestic and international clients.

6. Prachi Garg – Prachi is experienced in commercial Dispute Resolution work, both litigation and arbitration, and has a background in general corporate and M&A work as well.

7. Prachi Gupta - Prachi is experienced in corporate and commercial laws, including M&A, Private Equity transactions involving domestic and international clients.

Commenting on the promotions, Managing Partner, Mr Anand Desai said, “Each of our newly appointed partners and associate partners have been with us for several years, and have grown very well in their respective roles and responsibilities. I am confident they will continue to add great value in our ongoing journey.”

Indian Law Partners (ILP) & Ashurst advise Japan Bank for International Cooperation on its ‘GREEN’ Financing to SJVN

LE Desk

New Delhi, April 3, 2023: The Indian Government-owned SJVN Ltd has secured JPY 15 billion (approx. INR 915 crore) 'GREEN' finance from theJapan Bank for International Cooperation (JBIC) to fund its 90 MW Omkareshwar floating solar project in Madhya Pradesh and 100 MW Raghanesda solar project in Gujarat. The loan is co-financed with Japanese private banks, MUFG Bank and San-in Godo Bank.

The SJVN and JBIC have executed the 'Facility Agreement' under Global action for Reconciling Economic growth and Environmental preservation (GREEN) programme of JBIC, indian Law Partners (ILP) has said in a press statement.

 

ILP advised JBIC on the Indian law aspects, led by a team of Partners Gopika Pant & Vineet Gupta and assisted by Senior Associate Shradha Sharma and Associates Annanay Goyal and Aradhana Pillai, the Law Firm said in a press statement.

Ashurst Japan led by a team of Partner David Wadham and Senior Associate Akemi Kishimoto acted for JBIC as international counsel.

DSK Legal Partner Samit Shukla appointed as amicus by Bombay HC

By LE Desk

 

Mumbai, March 3, 2023: DSK Legal has announced that its partner Samit Shukla was appointed as an amicus curiae by the Bombay High Court in deciding a long-pending question of law relating to stamping of a Permanent Alternate Allotment Agreement (PAAA) executed in favour of members of Co-operative Housing Societies pursuant to redevelopment undertaken by them, and consequential challenge to circulars dated March 30, 2017, and June 23, 2015 issued by the Chief Controlling Revenue Authority of the State of Maharashtra.

 

The Bombay High Court by an order dated February 17, 2023 passed in the above group of writ petitions, set aside and revoked the said impugned circulars and acknowledged the valuable assistance of Mr. Shukla in assisting the Court, the Law Firm said in a press statement. 

 

The team that assisted Mr Shukla comprised Mr Siddharth Shah (Senior Associate) and Mr Anuj Savla (Article Clerk).

 

The impugned circulars contemplate that PAAA executed between the developer and members of the society requires to be stamped again despite the fact that the development agreement executed between the developer and the society is already stamped. The rationale behind the impugned circulars was that members were not parties to original development agreement and therefore benefit of Section 4 of the Maharashtra Stamp Act 1958 cannot be extended.

 

The statement further said that after briefly hearingthe parties of the writ petitions and the suggestions and assistance provided by Mr. Shukla, the Court inter alia held that the rationale of the stamp authorities in levying stamp duty on PAAA is erroneous since a Society is nothing but a compendium of the members, which cannot exist with them and the acts of the Society is nothing but majority will of its members. Thus, PAAA in respect of (i) area which commensurate to area which the member already possessed and (ii) additional area which the members are entitled to in law cannot be subject to levy of stamp duty. 

 

The Order has put an end to a long-drawn litigation pending since 2006 and is big relief to the real estate sector, the Law Firm said.

DSK Legal advises, assists Indian Railways in ₹26K-crore electric locomotive project for freight movement in India


 

By LE Desk

 

New Delhi, March 1, 2023: DSK Legal has advised and assisted the Ministry of Railways in a ₹26,000 crore (USD 3.25 billion) project, relating to the supply and maintenance of electric locomotives for freight movement in India, to be executed by global engineering and technology firm Siemens in collaboration with the Indian Railways, the Law Firm has said.

 

DSK Legal advised and assisted the Railway Board, Ministry of Railways on all aspects of the Project, including assisting in the bidding process; drafting, finalizing and legal vetting of the bid documents and the manufacturing cum maintenance agreement; assisting in the evaluation, risk assessment, negotiation and contract finalization and execution of the agreement with Siemens, the Firm said in a press statement.

 

The transaction involved complex issues regarding the commercial arrangement, risk allocation, risk assessment and advising on mitigation strategies, it said. The team representing DSK Legal comprised of Mr. Ajay Shaw (Partner) as the lead transaction advisor, along with Ms. Rimali Batra (Associate Partner) and Ms. Anisha Bhattacharya (Senior Associate).

 

Siemens has signed a long-term agreement with the Railway Board, Ministry of Railways for ‘Manufacturing and Supply of 1200 Electric Locomotives of 9000 hp, over a period of 11years at Rolling Stock Workshop, Dahod and Maintenance of the said Locomotives at nominated Government Depots of the Indian Railways’. Under the long-term agreement, Siemens will manufacture and deliver 1,200 electric locomotives of 9000 horse power (HP) to the Government, which shall be assembled in the Indian Railways factory at Dahod, and thereafter undertake maintenance of the locomotives for 35 years at nominated Government depots.

 

The statement further said the project is being undertaken by the Ministry of Railways under the aegis of the ‘Make in India’ initiative under ‘Aatma-Nirbhar Bharat’ mission of the Government of India. The electric locomotives will be equipped with state of the art technology and will help in capacity augmentation of freight trains in India, in addition to improving operational efficiency, thereby bringing India at par with global standards. 

 

This is a prestigious high-stake project that aims to promote and ensure self-reliance in railway manufacturing and foster technology upgradation by bringing the latest technology and know-how to the railway sector. Being a first of its kind, under this Project Siemens will have no capital expenditure liability, since the locomotives will be manufactured in a factory owned by the Indian Railways and thereafter maintained in government maintenance units, while Siemens will bring in the technology required to manufacture the 9000 hp engines, upgrade the government manufacturing and maintenance units and provide necessary supervision.

 

The implementation of the Project will facilitate and boost railway manufacturing in India, generate revenue and increase employment.