NCLAT Approves Resolution Plan For Odisha Slurry Pipeline Infrastructure Limited

In a big relief to the ArcelorMittal Group, the Bench comprising of HMJ Jarat Kumar Jain (Member Judicial) and Hon'ble Mr. Kanthi Narahari (Member Technical) of the National Company Law Appellate Tribunal, New Delhi dismissed the various appeals challenging the approval of the Resolution Plan filed by ArcelorMittal India Private Limited for the corporate insolvency resolution process of Odisha Slurry Pipeline Infrastructure Limited. Earlier, the Ld. Adjudicating Authority, Cuttack on...

Maheshwari & Co. Promotes Its Principal Associate Dharmender Verma To Partner

New Delhi based full-service, Maheshwari & Co. has recently promoted its Principal Associate, Dharmender Verma to Partner.Dharmender Verma is a practising Advocate with extensive experience in handling matters related to Litigation and Arbitration. He has an in-depth understanding of handling complex and high stake commercial litigation matters. He plays a pivotal role for the clients in specifically dealing with domestic arbitration for both private and Public Companies. He has been part of...

Section 45 of PMLA Will Apply Only If a Person Is Arrested by the Directorate of Enforcement: Delhi Court

A Delhi Court recently while granting bail to the Accused Persons in case concerning with the commission of offences under section Prevention of Money Laundering Act, observed that the provisions of Section 45 of PMLA will only apply if a person has been arrested by the Directorate of Enforcement. The order was passed by the Court of Sh. Naveen Kumar Kashyap, Ld. Special Judge, Tis Hazari, while deciding the regular bail applications filed by the Accused persons under section 439...

Dua Associates Represents Hughes Communications (HCIPL) In JV Formation With BhartiAirtel Limited

Dua Associates gets a flying start in the new year with the completion of the JV transaction between Hughes Communications India Private Ltd (HCIPL) and Bharti Airtel Limited. The deal team comprising of Partners Sita Khosla, Vikram Dhokalia and Nirvaan Gupta from Dua Associates advised Hughes Communications India Private Ltd (HCIPL) and its associate companies in relation to strategic acquisitions, internal restructuring, and formation of a joint venture with Bharti Airtel Limited for...

Real Estate Developer HDIL Lose Case Against Flat Purchasers At NCLAT, One Of The Biggest Win For Flat Purchasers

M/s SOLICIS LEX had filed a consolidated appeal (A1 - Majestic Towers; A2 - Galaxy Apartments) in the NCLAT on behalf of many flat purchasers. The appeal was filed Against the decision of the NCLT Mumbai - whereby the resolution process was closed and the housing projects and other assets of HDIL were ordered to be liquidated - in which case the home buyers get nothing - no flat or refund. All proceeds of Liquidation were to flow to Banks and Financial Institutions. Adv Sunil...

Desai & Diwanji Advises Greater Pacific Capital On The Acquisition Of Muthoot Microfin Limited

Desai & Diwanji advised Greater Pacific Capital on its investment in MUTHOOT MICROFIN LTD., the microfinance business of the Muthoot Pappachan Group. Greater Pacific Capital will acquire approximately 14% stake in Muthoot Microfin Limited for a consideration of approximately USD 50 Million.The transaction team was led by Partners Apurva Diwanji, Rachna Jain, Aneesh Gupte and Rini Mitra and assisted by Senior Associate Ankur Gupta AZB & Partners advised Muthoot Microfin Limited.J....

Argus Partners Acts For Kotak Securities Limited In Its Acquisition Of 7.50% Stake In Entroq Technologies Private Limited

Argus Partners acted for Kotak Securities Limited (KSL), a subsidiary of Kotak Mahindra Bank Limited, in its investment in Entroq Technologies Private Limited (ETPL) to acquire a 7.50% stake in the latter for Rs. 3 Crore. ETPL is a financial technology company, focused on providing short curated financial news platform and a social community (circles) for early-stage investors and millennials.The Argus Team comprised Vinod Joseph, Partner, Smriti Tripathi, Rabia Rahim and Aishwarya...

Singh & Associates Undergoes Organizational Transition; To Be Called S&A Law Offices

New Delhi, 11th December, 2021: Singh & Associates, India's leading full-service law firm, as part of an evolutionary organizational change has recently announced advent of S&A Law Offices. The organizational transformation of the firm Singh & Associates to S&A Law Offices is a natural transition in line with the demands of the steep growth curve that it has been navigating. The Firm has also released its new logo to mark its new identity. This transformatory step will...

Chandhiok & Mahajan Successfully Defends Intel Corporation In An Abuse Of Dominance Investigation

New Delhi, Delhi: Intel Corporation, an American multinational corporation, is a global technology company that manufactures chips, boards, and other semiconductor components. In 2018, the Competition Commission of India (CCI) initiated an investigation against Intel for abusing its dominance by allegedly denying access to files that may be necessary for developing server board designs based on a specific server platform launched by Intel. The investigation was initiated following a...

Argus Partners Has Advised Plutus Wealth Management In The Series B Funding Of INR 59.34 Crores ($8 Million) Raised By Foodlink, A Luxury Catering Company.

Foodlink intends to use these funds to expand its flagship business of luxury catering across newer geographies in India and overseas to take its luxury banquet brand called JADE Luxury Banquets to more cities. The funding will also be used to scale their casual dining restaurant business through its brands, India Bistro, China Bistro & Art of Dum. The Argus Partners Team was led by Gaurav Singhi, Partner and Tushnika Dayal, Senior Associate and Aryan Mohindroo, Associate.Gaurav is a...

Solicis Lex Advisory Receives The Prestigious "Dadasaheb Phalke Icon Award 2021"

SOLICIS LEX Advisory, Law Firm received the prestigious "DADASAHEB PHALKE ICON AWARD 2021" at hands of SHRI FAGGAN SINGH KULASTE, Central Cabinet Minister, The Minister of State for Rural Development and Steel at a glittering ceremony in Orchid Hotels, Mumbai Airport on Wednesday evening, 24th November, 2021.The firms Managing Partner Mr Ameet Mehta received it on behalf of the whole team.Special thanks to the Jury, Organizers & Dignitaries who made this possible. Special thanks to Shri...

Argus Partners Has Advised Oaks Asset Management In The Series A Funding Of INR 55 Crores Raised By Troo Good

The Hyderabad-headquartered company, Troo Good started as a Millet Paratha venture catering to schools and corporations is now India's Largest Millet Snacks Company. Troo Good intends to use the funding to expand its business from Andhra Pradesh and Telangana to several other states across India, as well as achieve their mission of serving nutritious and affordable snacks to 1 crore children every day. Currently, the company serves nearly 10 lakh children every day and expects this number...