Sanjay Bansal & Anr. v Union of India & Ors : Delhi High Court Urged DRT Delhi To Hear The Case On Merits

Sanjay Bansal, a litigant, was constrained due to the non-functioning of the Debt Recovery Tribunal- I, New Delhi for several months, and therefore, he invoked the writ jurisdiction of the Delhi High Court. He complained that despite of his legitimately acquired property through a bank auction, Piramal Capital and Housing Finance Limited have issued a possession notice and further approached the Deputy Commissioner, Gurugram for taking physical possession under Section 14 of the SARFAESI...

Luthra And Luthra Elevates 23 Lawyers As It Announces Promotions For The Year 2022

Luthra and Luthra Law Offices India celebrated its '32nd Annual Day' on Saturday, the 10th of September 2022 in the most unique way with members gathered physically at respective offices and all offices connected virtually. The evening commenced with the Firm's Founder & Managing Partner, Mr. Rajiv K Luthra addressing everyone; sharing his vision about the Firm's expansion plans and future growth areas for the firm.Mr. Adil Zainulbhai, Ex-Chairman of McKinsey & Co. graced the occasion...

Luthra And Luthra Law Offices India Advised State Bank Of India On A Re-Financing Transaction Aggregating Up To INR 5988.30 Million.

The Firm advised and acted for State Bank of India in connection with financial assistance sanctioned to Binjhabahal to Telebani section, k.m. 414.000 to k.m. 491.710 (design chain age k.m. 414.982 to k.m. 493.300) of NH-6 (new NH-49) Highway Private Limited (an Oriental group company) aggregating up to INR5988.30 Million for the purpose of re-financing of existing secured indebtedness of the borrower company availed in relation to rehabilitation and up-gradation of four laning of Binjhabahal to...

Value Of The Property Drastically Depreciates Upon Loss Of Its Title Deeds By The Bank: NCDRC

Facts of the case: In this case, a person took a loan of Rs. 20 lakh from HSBC by mortgaging his house with the bank. However, the bank could not return the original title deeds as the same were lost by it. Hence, the consumer filed the complaint before Rajasthan State Consumer Disputes Redressal Commission, Jaipur claiming compensation of Rs. 95 lakh stating that loss of original title deeds had caused approx 50% depreciation in the value of his house's market value which he estimated...

Argus Partners Advises Together Fund In Privado`s Series A Fundraise Of $14 Million

Argus Partners has acted as the legal counsel for Together Fund in data privacy start-up, Privado`s, fundraise of $14 million (~Rs. 111 crore) in its Series A round. The funding round also saw participation from Insight Partners and Sequoia Capital India. Founded in 2020 by Jasdeep Cheema, Prashant Mahajan, and Vaibhav Antil, Privado addresses privacy issues facing businesses. Privado is an open-source code scanning solution built for privacy that identifies data usage, discovers data...

Luthra And Luthra Advise L&T Finance On A Highway Project Of INR 629 Crores.

The Firm recently acted as Lenders' Legal Counsel for L&T Finance Limited in relation to the financing made available to Kappirikkad Highways Private Limited, for an amount of INR 628 Crores in connection with six laning from Kappirikkad to Thalikulam section of NH-66 (old NH-17) in the state of Kerala on Hybrid Annuity Mode under Bharatmala Pariyojana of NHAI.The team was involved in drafting, reviewing, negotiating, advising on legal issues/queries relating to the facility, finalization...

Vasanth Rajasekaran Leaves Phoenix Legal With Team To Establish Trinity Chambers

Vasanth Rajasekaran leaves equity partnership at Phoenix Leal to establish Trinity Chambers.Vasanth Rajasekaran (Founder and Head of Chambers – Trinity Chambers) On setting up Trinity Chambers, Rajasekaran said: "After a wonderful stint at Phoenix Legal, I along with my team members Saurabh Babulkar and Harshvardhan Korada have decided to move on from the firm to establish a dedicated litigation chamber. I am pleased to announce the opening of Trinity Chambers, a specialised...

Delhi High Court: Petition Under Article 227 Is Not Maintainable Against An Interim Order Passed By The Arbitrator If It Can Be Challenged U/S 34 Of The A&C Act

Facts of the case: In a domestic arbitration between Siddhast Intellectual Property Innovations Pvt. Ltd. (Siddhast) and Controller General of Patents, Designs & Trademarks, (CGPDT), while filing its Statement of Defence, CGPDT had also filed its Statement of Counter-claims against Respondent No. 1 - Siddhast along with an application under Order 1 Rule 10 CPC to implead a French company Questel SAS as Respondent No. 2 in its Counter-Claims only on the basis of a "Consortium...

Argus Partners Advises Medgenome In Its In Its USD 50 Million Series D Fund-Raise

Argus Partners has acted as the legal counsel for MedGenome, a Bengaluru based genetic diagnostics, research and data company, in its USD 50 million Series D fund raise, led by Novo Holdings.In consequence to the investment, Novo Holdings will gain a minority stake in MedGenome.Speaking on the investment from Novo Holdings, MeGenome in their statement have stated that, "Novo's investment will strengthen MedGenome's scale beyond India and South Asia into Africa and the Middle East and democratise...

Luthra And Luthra Advises Azure On 346 MW WTG Procurement From Siemens Gamesa

Luthra and Luthra Law Offices India assisted Azure Power Global Limited, a leading independent sustainable energy solutions provider and renewable power producer in India, in relation to finalizing and executing the Master Supply Agreement ("MSA") and related contracts with Siemens Gamesa Renewable Power Private Limited ("Siemens Gamesa"), for the supply of 96 units of SG 3.6-145 onshore wind turbines which will cater to an overall capacity of ~346 MW wind projects.The transaction team was led...

AAA-ICDR Announces The Appointment Of New Director-Asia Case Management Centre

Ms. Aastha Chawla, an Indian qualified lawyer, joins International Centre for Dispute Resolution (ICDR) as Director-Asia Case Management Centre (CMC). She is an experienced specialist in dispute resolution with significant experience in providing legal services to a broad range of Indian and international clients. The ICDR is the international division of the largest arbitral institution in the world, the American Arbitration Association (AAA). Drawing on the AAA's 96+ years of...

Luthra And Luthra Acted For IREDA In Separate Two Transactions Having A Gross Value Of INR 1150 Crores

Luthra and Luthra Law Offices India recently acted as Lenders' Legal Counsel for Indian Renewable Energy Development Agency Limited (IREDA) in connection with financial assistance aggregating up to INR 750 Crores and INR 400 Crores made available to Renew Jal Urja Private Limited, and Pioneer Power Corporation Limited and Pioneer Genco Limited, respectively. The amount will be utilized for the purpose of financing the hydropower projects in the state of Karnataka and Uttarakhand. The...