The Venture Intelligence Blog

 Insurance Contract with Exclusion Clause and Protection of Insured Consumer Introduction Many of the insured consumers have faced situations where the insurance companies fail to honour their commitments under the insurance contracts on one or the other pretext especially of hidden exclusion clauses in the contracts. Much to the dismay of the insured consumer, the insurance companies walk away from their obligations, basis these exclusion clauses in the insurance contracts. But this may hopefully change in the future owning to the recent Supreme Court’s judgment in the matter of Texco Marketing Pvt. Ltd. versus TATA AIG General Insurance Company Ltd. & Ors.1 Factual Background Texco Marketing Pvt. Ltd. (“ Appellant ”) secured a Standard Fire & Special Perils Policy (“ Policy ”) for its shop from TATA AIG General Insurance Company Ltd. (“ Respondent ”) The shop was situated in the basement of a building. However, the exclusion clause of the insurance contract specified that the

TVS Capital Funds (TCF) received the BFSI Fund of the Year 2022 Award as part of Venture Intelligence APEX‘23 Private Equity & Venture Capital awards event in Mumbai.  The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer.  The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms as well as "crowd sourced" nominations and voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Exit Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies) Mr. Gopal Srinivasan, Chairman (Centre) and Mr. Gaurav Sekhri, Senior Principal of   TVS Capital Funds  receiving the Award from Mr. Lalit Valecha, Founder, AVA Group  “We are delighted to receive the best BFSI Apex award from Venture Intelligence. Especially since the Apex awards have a unique process where it is v

Blackstone, Temasek, Motilall Oswal and Stakeboat Capital were awarded as among the leading Private Equity investors in India for 2022 as part of Venture Intelligence APEX‘23 Private Equity & Venture Capital awards event in Mumbai.  The Venture Intelligence “Awards for Private Equity Excellence” (APEX) is dedicated to celebrating the best that the Indian Private Equity & Venture Capital industry has to offer.  The APEX Awardees are selected based on both Self Nomination by the participating PE-VC firms as well as "crowd sourced" nominations and voting from the Limited Partner, PE-VC and advisory communities. (The main criteria are Exit Track Record, New Fund Raises & Follow-on Funding Rounds for Portfolio Companies) Temasek received the Private Equity Fund of the Year  2022 Award on the back of strong part exits during from  year from Intas Pharma (with an over 7.5x return); Devyani International (with ~4.8x) and Crompton Greaves Consumer Electricals (with ~3.5x).

Arpwood Capital and Axis Capital claim the No.2 & No.3 slots Citi topped the Venture Intelligence League Table for Transaction Advisor to M&A Deals   during 2022, advising 4 deals worth $44.4 Billion. Arpwood Capital ($41.9 Billion across 3 deals) and Axis Capital ($41.7 Billion across 5 deals) took the second and third spots, respectively. Credit Suisse ($41.6 Billion across 2 deals) and Ambit ($41.3 Billion across 4 deals) completed the top five. Among the largest M&A deals during 2022, Citi, HSBC, IIFL Investment Banking, Motilal Oswal, Nomura, JP Morgan, Dhruva Tax Consultants, Jefferies & Co., ICICI Securities, Edelweiss Financial Services, Deloitte, Credit Suisse, Axis Capital, Arpwood Capital, Ambit, Goldman Sachs and JM Financial advised the $40 Billion merger of HDFC Limited with HDFC Bank . Allegro Advisors acted as the advisors to the $3.3 Billion acquisition of Viatris’ biosimilars business by Biocon Biologics (a subsidiary of publicly listed Biocon

AZB & Partners (AZB) topped the Venture Intelligence League Table for Legal Advisor to M&A Transactions during 2022. AZB advised 81 M&A deals worth $73.8 Billion. They were followed by Argus Partners ($44.56 Billion across 9 deals) and Wadia Ghandy ($40.02 Billion across 5 deals) in the second and third spots, respectively. Cravath, Swaine & Moore ($40 Billion across 1 deal) took the fourth spot, with Cyril Amarchand Mangaldas (CAM) ($34.6 Billion across 90 deals) completing the top five. Among the largest M&A deals during 2022, AZB, Argus Partners, Cravath, Swaine & Moore and Wadia Ghandy advised the  $40 Billion merger of  HDFC Limited with HDFC Bank.  AZB and CAM advised $10.5 Billion Adani Group's acquisition of  Switzerland-based Holcim’s entire stake in its two Indian cement companies, Ambuja Cements Ltd and ACC Ltd . Saraf and Partners , SAM, K Law , Baker Mckenzie , and Goodwin Procter advised the $3.3 Billion acquisition of Viatris’ biosim

Ernst & Young and JM Financial claim the No.2 & 3 slots Avendus topped the Venture Intelligence League Table for Transaction Advisor to Private Equity Transactions in 2022 advising 34 deals worth $5.4 Billion. Ernst & Young stood second advising 11 deals worth $1.25 Billion. JM Financial followed with 3 deals worth $1.04 Billion. Ambit ($1 Billion across 14 deals) and Morgan Stanley ($810 million across 2 deals) completed the top five for 2022. Avendus  advised deals included Mobile Content and News aggregator Unicorn Dailyhunt’s $805 million fundraise from Sumeru Ventures, Luxor Capital, Ontario Teachers Pension Plan, Sofina, Baillie Gifford, and CPPIB.  Ernst & Young  advised the $775 million purchase of six toll road projects from Welspun Enterprises by Actis.  Citi  and  JM Financial  advised the $593 million acquisition of IDFC Asset Management Company by a consortium comprising Bandhan Financial Holdings Limited and private equity investors GIC and ChrysCapi

SAM and CAM claim the No.2 & No.3 slots AZB & Partners (AZB) topped the Venture Intelligence League Table for Legal Advisor to Private Equity Transactions in 2022. The firm advised PE deals worth $18.9 Billion (across 134 qualifying deals) during the period. Shardul Amarchand Mangaldas (SAM) ($18.8 Billion across 135 deals) and Cyril Amarchand Mangaldas (CAM) ($13.77 Billion across 103 deals) took the second and third spots. Khaitan & Co. ($11.75 Billion across 131 deals) and Trilegal ($11.37 Billion across 94 deals) completed the top five. Among the larger Private Equity deals during 2022, CAM advised JC Flowers ARC's acquisition of INR 48,000 Cr stressed assets of Yes Bank . CAM and SAM advised $1.2 Billion acquisition of Suven Pharmaceuticals by Advent International . AZB & Partners advised KKR’s exit from Max Healthcare. The  Venture Intelligence League Tables , the first such initiative exclusively tracking transactions involving India-based companies,