Cyril Amarchand Mangaldas advised Nextbillion Technology Private Limited (Groww Group), India's leading investment tech-platform, on its acquisition of Indiabulls Asset Management Company Limited and Indiabulls Trustee Company Limited, the asset management company and trustee company, respectively, of Indiabulls Mutual Fund, from its sponsor, Indiabulls Housing Finance Limited, subject to necessary approvals.
This is the first transaction in India under SEBI's new 'sponsor' eligibility criteria for mutual funds.
Cyril Amarchand Mangaldas advised Groww and the transaction and regulatory team was led by Anu Tiwari, Partner; with support from Anindita Bhowmik, Partner; Sushim Aryan, Senior Associate; and Aditya Sarkar, Associate.
The legal due diligence team was led by Anindita Bhowmik, Partner; with support from Ritu Sajnani, Principal Associate - Designate; Sushim Aryan, Senior Associate; Utkarsh Bhatnagar, Senior Associate; Karthik Koragal, Associate. Ankita Ray, Partner; assisted on the Employment Law aspects of the Transaction. Vidhi Doshi, Senior Manager - Corporate Secretarial Services; Mihir Sangani, Executive - Corporate Secretarial Services; and Charmi Sanghvi, Executive - Corporate Secretarial Services; assisted on the secretarial aspects of the due diligence exercise.
The Transaction was signed on May 10, 2021.
India's Leading Law Firm, Cyril Amarchand Mangaldas was founded on May 11, 2015 and takes forward the values going back 104 years, of the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co. Tracing its professional lineage to 1917, the Firm has 750 lawyers, including over 130 partners, and offices in India's key business centres at Mumbai, New Delhi, Bengaluru and Ahmedabad. The Firm advises a large, and varied client base that includes domestic and foreign commercial enterprises, financial institutions, private equity funds, venture capital funds, start-ups and governmental and regulatory bodies.
The firm was recently named in '25 Most Innovative Companies of the Year' by CII. Also, received "Law Firm of the Year" award at the Asian Legal Business (ALB) India Law Awards 2020 and "Law Firm of the Year, India" at the Asialaw Regional Awards 2020. The firm was recognised as the "Most Innovative National Law Firm of the Year - India for 2020" at the IFLR Asia Awards and voted as the "Employer of Choice for 2020" from India, by the Asian Legal Business.
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( With inputs from ANI )
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