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CreditAccess Grameen Board Nods Further Investment In Madura Micro Finance Up To Rs 250 cr

CreditAccess Grameen nods further investment in Madura Micro finance up to Rs. 250 cr.

As per regulatory filing, based on the approval of the Shareholders at the 30th Annual General Meeting held on July 30, 2021, with regard to further investment by the Company in Madura Micro Finance Limited (MMFL), a Material Subsidiary, up to an aggregate sum of Rs250cr, the Board of Directors at their meeting on December 21, 2021, have considered and approved further investment in MMFL in the form of Subordinate Debt or Perpetual Debt Instruments (PDIs) or both, up to Rs250cr, in tranches, in order to support capital adequacy requirement of MMFL.

Hufriz Wadia of AZB & Partners advised CreditAccess Grameen Limited, an NBFC-MFI on its INR 1.65 Billion Tier II Capital infusion in its subsidiary Madura Micro Finance Limited by way of subordinate debt to further augment its capital adequacy ratio.

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AZB & Partners advised SK Capital to Acquire Apotex, a Global Leader in Affordable Pharmaceuticals

AZB & Partners advised SK Capital to acquire Apotex, a global leader in affordable pharmaceuticals

An affiliate of funds advised by SK Capital Partners, LP (“SK Capital”) announced that it has reached an agreement to acquire Apotex Pharmaceutical Holdings Inc. (“Apotex” or the “Company”), a proudly Canadian, global pharmaceutical company that produces high-quality, affordable medicines across all major therapeutic areas for patients around the world.

The team representing SK Capital comprised of Partners Ashwath Rau, Jasmin Karkhanis and Senior Associates Saras Muzumdar, Nitika Jain and Rashmee Kumar.

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Luthra And Luthra Acts For Crystal Crop On Its USD 37 Million Investment By IFC

Luthra And Luthra Acts For Crystal Crop On Its USD 37 Million Investment By IFC

Luthra and Luthra Law Offices India assisted Crystal Crop Protection Limited in relation to raising of private equity investment of INR. 300 crores (USD 37 million approx.) from International Finance Corporation (IFC) and Emerging Asia Fund (EAF).

The team comprised of Partners, Avirup Nag and Sabrina Afroze and Associate, Kashish Singhal who assisted Crystal Crop in finalising the investment agreements and closing of the transaction.

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C&M opens doors to its fourth office in Hyderabad

Chandhiok & Mahajan opens doors to its fourth office in Hyderabad

Chandhiok & Mahajan is pleased to announce the opening of its fourth office at Hyderabad. Located at Shangri-La Plaza in Banjara Hills, the office can accommodate up to 10 lawyers and staff.

Competition and disputes partner, Avinash Amarnath, has relocated from C&M’s Bengaluru office to take over as resident partner in Hyderabad. Pooja Mahajan, C&M’s managing partner said:
“We are delighted to be in Hyderabad. With Bengaluru and now Hyderabad, we are better placed to serve our clients in the wider Southern region. Avinash is an exceptional colleague. We are grateful to him for taking up the responsibility of leading C&M in Hyderabad.”

Commenting on the opening of the office, Sujoy Bhatia, partner and head of corporate commented: “C&M has been serving clients in Telangana and Andhra Pradesh remotely from Delhi and Bengaluru. The opening of the Hyderabad office is in response to our clients requesting us to be closer to them both on transactions and litigation.”

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Sanjeev Sachdeva rejoins Luthra and Luthra’ s Senior Leadership Team as a Mentor & Partner

Sanjeev Sachdeva rejoins Luthra and Luthra’ s Senior Leadership Team as a Mentor & Partner

Luthra and Luthra Law Offices India welcomes back Sanjeev Sachdeva as a Mentor & Partner in the Firm’s Senior Leadership.

Sanjeev will also be reassuming his role as a Taxation Partner. Sanjeev has been associated with Luthra Family since 2008 and played a pivotal role in setting the indirect tax practice. With over four decades of experience, Sanjeev will be mentoring the taxation team and be a part of the Senior Leadership team.  

Sanjeev has represented a multitude of international and national clients before different judicial and administrative authorities. He has also assisted clients in arbitration proceedings at the Singapore International Arbitration Centre (SIAC), as well as, at the London Court of International Arbitration (LCIA).

Sanjeev started his career as an Officer of the Indian Revenue Service. He was awarded the Presidential Certificate of Appreciation for Distinguished Service on the occasion of Republic Day in 1999. He also headed the operations of Trinity College London in South & SE Asia and the Middle East.

Sanjeev attended the Post Graduate Program at the prestigious Indian Institute of Management Ahmedabad, before which, he read at the Delhi School of Economics for his Masters.

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AZB & Partners Advised KKR in its acquisition of 13.3% stake in Advanta

AZB & Partners advised KKR & UPL in its acquisition of 13.3% stake in Advanta

KKR, a leading global investment firm, and UPL Limited (“UPL”), a global agriculture solutions provider, announced the signing of definitive agreements under which KKR will invest US$300 million for a 13.33% stake in Advanta Enterprises Limited (“Advanta” or “the Company”), a subsidiary of UPL and a leading global seed company that aims to deliver innovative farming solutions and technology to farmers around the world.

The AZB & Partners team representing KKR comprised of Partners, Nandish Vyas and Bharat Budholia, and Counsel Malaveeka Chakravarthy. Whilst the team representing UPL comprised of Partners Ashwath Rau and Atreya Bhattacharya, and Senior Associate Pranav Tolani.

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Luthra and Luthra acted for IREDA in refinancing deals aggregating upto INR 3900 Million

Luthra and Luthra acted for IREDA in refinancing deals aggregating upto INR 3900 Million

Luthra and Luthra Law Offices India advised Indian Renewable Energy Development Agency Limited (“IREDA” or “Lender”) in separate two refinancing transactions related to financial assistances sanctioned for 18 MW  ‘Hydro Power Project’ in the State of Odisha and 100 MW “Solar Power Project” located in the State of Telangana aggregating up to INR 1155.00 Million and INR 2768.00 Million, respectively.

The Luthra and Luthra transaction team for Hydro Power Project was led by Girish Rawat (Partner), Varun Chauhan (Managing Associate), Himanshi Bhadoria (Associate) and Abhinav Singh (Associate). Whilst, the transaction team for the Solar Power Project consisted of Girish Rawat (Partner), Ms. Ashneet Chhabra (Senior Associate) and Mr. Pranav Dwivedi (Associate).

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Francisco Partners scoops up bulk of IBM’s Watson Health unit

Francisco Partners scoops up bulk of IBM’s Watson Health unit

In what has to be considered an anticlimactic ending, IBM sold off the data assets of its Watson Health unit to private equity firm Francisco Partners today. The two firms did not share the purchase price, but previous reports pegged the value at around $1 billion.

Under the terms of the deal Francisco is grabbing various pieces of the unit, including Health Insights, MarketScan, Clinical Development, Social Program Management, Micromedex and imaging software offerings. This gives Francisco Partners a broad range of health data under its umbrella.

AZB & Partners advised Francisco Partners Management L.P on the India law aspects of the transaction. The AZB & Partners team comprised of Partners Ashwath Rau, Vipul Jain, Aditya Alok and Veena Gopalakrishnan, and Senior Associate Rina Goyal.

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Luthra and Luthra advises National Medical Billing on acquisition of MedTek, LLC and Avontix

Luthra and Luthra advises National Medical Billing on acquisition of MedTek, LLC and Avontix

Luthra and Luthra Law Offices India represented National Medical Billing Services (“National Medical”), an industry leading healthcare revenue cycle management (“RCM”) company serving the surgical market, in its acquisition of MedTek, LLC (“MedTek”)and its Indian wholly-owned subsidiary Avontix Global Private Limited (“Avontix”), which are leading providers of RCM solutions to ambulatory surgery centers (“ASCs”), hospitals, clinics, and specialty groups nationwide.  

As the largest and most experienced provider of outsourced RCM services focused on the surgical market, National Medical serves hundreds of ASCs, surgical practices, and anaesthesia groups. More specifically, this acquisition will further strengthen National Medical’s position as the complete end-to-end provider of outsourced revenue cycle solutions serving ASCs, surgical practices, and anaesthesia groups.  

The Luthra and Luthra team was led by Nishant Singh (Partner) and assisted by Nikhil Bhat (Senior Associate), Manushi Shah (Associate), Aditi Nagpal (Associate), Maitri Meghani (Associate), Aayush Sinha (Associate), Divyanshu Bansal (Associate) and Meghna Singh (Associate).

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