The Venture Intelligence Blog

Independence of Independent Directors: A Myth Or Reality? Authors: Madhavan Srivatsan, Jherrna B. Sharma and  Khizer A. Qureshi Law Office of Madhavan Srivatsan The stability of the Company reflects through its ability to generate wealth and generate profit not only for the promotes but for the minority shareholders as well. In pursuance of achieving the objective of generating wealth and profit, often times the Companies overlook its ethical boundaries in order to create more income for promoters at the cost of minority shareholders, which have proven to be disastrous on revelation. In order to ensure a constant flow of profits without crossing moral and ethical boundaries, Corporate governance was evolved to restrain the Companies from doing unjust acts and foster the trust of the investors and other stakeholders. These days Corporate Governance is a reality which cannot be overlooked by any Company which wants to be successful. There are a number of factors wh...

Foreign Portfolio Investors' Regulations– Proposed Changes As the fastest growing major economy in the world, India is an important participant in global investment flows. Overseas funds flow in India both through the Foreign Portfolio Investors (" FPIs ") and the Foreign Direct Investment (" FDI ") routes with substantial inflows into capital markets. In order to rationalize the investment routes and monitoring of FPIs, the SEBI (Foreign Portfolio Investors) Regulations, 2014 (" FPI Regulations ") were notified on January 07, 2014. Over the years, several clarifications, circulars and guidelines have been issued to the FPI Regulations and a need was felt to undertake an extensive review of the FPI regime to consolidate and rationalize the FPI framework. SEBI therefore constituted a working group under the chairmanship of Shri. Harun R. Khan (Retd. Deputy Governor of Reserve Bank of India) (" Working Committee "), to review the FPI ...

AZB & Partners  topped the  Venture Intelligence  League   Table  for Legal Advisor to M&A Transactions in H1 2019. AZB advised M&A deals worth $10.8 Billion (across 34 qualifying deals).  Shardul Amarchand Mangaldas (SAM, $9.1 Billion across 25 deals) and  Cyril Amarchand Mangaldas  (CAM, $8 Billion across 21 deals) took the second and third spot.  Khaitan & Co.  ($5.1 Billion across 43 deals) and  L&L Partners  (earlier Luthra & Luthra) with ($5.1 Billion across 13 deals) completed the top five. The Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms. AZB and SAM advised  the GRUH Finance - Bandhan Bank merger and Brookfield's $1.9 Billion buyout of Pipeline Infrastructure from Reliance Industries.  CAM,...

Considering Litigation in India | Part I – Beware of What You Wish For! It is a common view among members of the business community that engaging in litigation is a time consuming and distracting exercise. It takes away precious resources from the business and management, which can instead be productively deployed in enhancing business value. But, sometimes litigation is inevitable. From an Indian context, in many cases, it is unavoidable. However, it should ideally only be a means to achieve a larger commercial objective. But, all foreign investors and businesses should bear in mind that the realities of enforcement in India are very different from a developed market. The Indian judicial system is agonizingly slow and eventually if one does obtain a final decision from the first level courts, they may still have to contest the verdict through multiple appellate levels. The World Bank’s 2019 report for “Doing Business” ranks India at 163 out of 190 countries for enforcement of ...

AZB & Partners  topped the  Venture Intelligence  League   Table   for   Legal  Advisor to Private Equity Transactions in H1 2019. AZB advised PE deals worth $7.3 Billion (across 55 qualifying deals) during the period. Shardul Amarchand Mangaldas (SAM)  ($5.2 Billion across 28 deals) and  Cyril Amarchand Mangaldas (CAM) ($3.2 Billion across 32 deals) took the second and third spot.  Khaitan & Co.  ($3.1 Billion across 34 deals) and  Trilegal  ($2.6 Billion across 19 deals) completed the top five. The Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms. AZB and SAM advised Brookfield's $1.9 Billion buyout of Pipeline Infrastructure from Reliance Industries. AZB and CAM advised C arlyle's $678 million investment in SBI Life Insu...

Deloitte  topped the  Venture Intelligence  League   Table   for   Transaction  Advisor to M&A Deals in H1'19. Deloitte advised M&A deals worth $2.8 Billion (across 6 qualifying deals) during the period.  Ambit Corporate Finance ($2.4 Billion across 4 deals) and  Ernst & Young  ($2 Billion across 7 deals) took the second and third spot.  KPMG  ($2 Billion across 6 deals) and  Axis Capital ($1.6 Billion across 2 deals) completed the top five. The Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms. The largest deal advised by  Deloitte   was Power Finance Corporation's merger with Rural Electrification Corporation for $2.1 Billion . Ambit Corporate Finance advised Brookfield's $1.9 Billion buyout of Pipeline Infra...

Ambit Corporate Finance topped the  Venture Intelligence  League   Table   for   Transaction  Advisor to Private Equity Transactions  for H1 2019. Ambit advised PE deals worth $2.3 Billion (across 4 qualifying deals) during the period.  Edelweiss Financial Services ($589 million across 4 deals) and  Credit Suisse ($560 million across 2 deals) took the second and third spot. KPMG  ($389 million across 3 deals) took the fourth spot. PwC  ($610 million worth 3 deals) and Morgan Stanley (Blackstone’s $310 million acquisition of  Essel   Propack ) shared the fifth spot in H1 2019.  The Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies, are based on value of PE and M&A transactions advised by Transaction and Legal Advisory firms. Ambit Corporate Finance advised  Brookfield's $1.9 Billion buyout of Pipeline Infrastructure ...