The Venture Intelligence Blog

Cyril Amarchand Mangaldas (CAM) topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions for the quarter ending March 2020. CAM advised M&A deals worth $16.1 Billion (across 26 qualifying deals), followed by  Shardul Amarchand Mangaldas (SAM) with $4 Billion (across 5 deals).  AZB & Partners  (with $3.1 Billion across 13 deals),  Trilegal ($3.1 Billion across 9 deals) and  Khaitan & Co. ($1.8 Billion across 15 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. Among the largest deals in this quarter, CAM advised Jaypee Infratech’s $3.1 Billion acquisition by NBCC through the Insolvency & Bankruptcy Code (IBC) process . CAM, SAM and Trilegal advised the $1.9 Billion acquisition of Krishna...

Advising deals worth $918 million,  KPMG topped the Venture Intelligence League Table for Transaction Advisor to M&A Deals  for the quarter ending March 2020. Arpwood Capital  took the second place with $770 million followed by  Ernst & Young  with $571 million. RBSA Advisors  ($530 million) and Ambit Corporate Finance ($297 million) 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. KPMG advised the  takeover of distressed RattanIndia Power by a consortium of investors for $568 million . Arpwood Capital advised  Nuvoco Vistas’ $770 million acquisition of Emami Cement . Ernst & Young advised  Zomato's acquisition of Uber Eats . RBSA Advisors advised  NTPC’s acquisition of NEEPCO  and Ambit Cor...

Cyril Amarchand Mangaldas (CAM) topped the Venture Intelligence League Table for Legal Advisors to Private Equity (PE) Transactions for the quarter ending March 2020. CAM advised PE deals worth $1.6 Billion (across 23 qualifying deals) during the period. Khaitan & Co.  came in second at $1.4 Billion (across 16 deals), followed by  Shardul Amarchand Mangaldas (SAM) ($1.2 Billion across 13 deals) in third place. Trilegal ($886 million across 13 deals) and AZB & Partners ($597 Billion across 12 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. Among the largest deals in the latest quarter, CAM, Khaitan, SAM, Trilegal and Kirkland & Ellis advised the $568 million investment in distressed RattanIndia Power by a consortium of investors in...

KPMG topped the Venture Intelligence League Table for Transaction Advisors to Private Equity Deals in the quarter ending March 2020. KPMG advised the  $568 million  investment in distressed RattanIndia Power by a consortium of investors including Goldman Sachs and Varde Partners . Nomura Securities came in second, advising Canadian private equity investor Brookfield’s $205 million investment in IndoStar Capital Finance . With $155 million across 6 qualifying deals, Avendus took the third spot. Spark Capital Advisors ($46 million) and Intensive Fiscal Services ($39 million) completed the top five in Q1’20. 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 Financial and Legal Advisory firms. By Deal Volume Avendus  and  Unitus Capital  topped the tables in terms of deal volume, advising...

Possibility of Non-Payment of Lease Rent Due to COVID-19 Amidst the outbreak of novel coronavirus (“COVID-19”) and its consequential countrywide lockdown, shutting down majority of the commercial, industrial and retail activities, the much forgotten ‘Force Majeure’ clause in contracts and leases is now receiving close scrutiny. In simple terms, ‘Force Majeure’ events relieve a party from performance of its contractual obligations, without any consequential breach of the contract, provided such performance is adversely impacted by events outside the control of an affected party such as act of God, natural disaster, war, strike, lockout, epidemic, Government orders, etc.  The Ministry of Home Affairs vide its order dated March 29, 2020, in exercise of its powers conferred under Section 10(2)(l) of the Disaster Management Act, 2005, directed all State/Union Territory Governments and State/Union Territory Authorities to take necessary actions and issue necessary orders, in...

Extension of Realisation Period of Export Proceeds To ease the impact of disruption caused by the Coronavirus/COVID-19 pandemic, the Reserve Bank of India (“ RBI ”) has provided extension of the period for realisation of the export proceeds as prescribed under the Foreign Exchange Management (Export of Goods & Services) Regulations, 2015 (“ FEM Export Regulations ”) read with the RBI Master Direction on Export of Goods and Services (“ RBI Master Directions on Exports ”). Regulatory Framework: The export of goods and services in India and the payments to be received for such export of goods and services are regulated by the FEM Regulations, framed under the Foreign Exchange Management Act, 1999, read with the RBI Master Directions on Exports. We discuss hereinbelow certain key provisions of the FEM Export Regulations and the RBI Master Directions on Exports: 1.   Realization for Exports : In terms of regulation 9 of the FEM Export Regulations, every exporter i...

RECKONER ON THE CHANGE IN COMPLIANCE REQUIREMENTS IN TIMES OF COVID Bhargavi Ravi, Senior Associate With the single mindedness of a conquering army, COVID-19, continues to sweep through the world, punishing countries that consistently underinvested in their public health infrastructures. While we grapple in India with this evolving situation, as part of a holistic approach towards easing the burden of lockdowns, in addition to a slew of measures aimed at individuals, several Indian regulators have announced relaxations in compliance burdens to help companies and economies weather the pandemic. This article seeks to explain some key regulatory decisions taken by the Ministry of Corporate Affairs and the Securities and Exchange Board of India, as of 01 April 2020, that will have an impact on the corporate governance compliances of businesses [1] . 1.       Relaxation of Board meeting requirements : On 18 March 2020, the MCA issued a notice gran...