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Cyril Amarchand Mangaldas advises Zydus Cadila on sale of its India-focused Animal Healthcare Business for INR 2921 crores


New Delhi/ Mumbai (Maharashtra) [India], May14 (NewsVoir): Cyril Amarchand Mangaldas advised Zydus Cadila on sale of its India-focussed animal healthcare business to Zenex Animal Health India Private Limited (Zenex), which is a special purpose vehicle set up by Multiples led consortium of investors, for INR 2921 crores (~US USD 398 million) on a cash-free debt-free basis.
As part of the Transaction, Cadila Healthcare Limited s animal healthcare business subsidiary Zydus Animal Health and Investments Limited has entered into a Business Transfer Agreement, dated May 12, 2021, with Zenex for sale of its Animal Healthcare Established Markets Undertaking to Zenex, as a going concern, on slum sale basis. ....

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Cyril Amarchand Mangaldas advises Groww on acquisition of Indiabulls Mutual Fund


Cyril Amarchand Mangaldas advises Groww on acquisition of Indiabulls Mutual Fund
ANI |
Updated: May 12, 2021 13:27 IST
New Delhi/ Mumbai (Maharashtra) [India], May 12 (ANI/NewsVoir): 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. ....

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Cyril Amarchand Mangaldas announces the opening of its new office in GIFT City in Gandhinagar, Gujarat


Mumbai (Maharashtra)/ Ahmedabad (Gujarat) [India], May 3 (ANI/NewsVoir): India s leading law firm, Cyril Amarchand Mangaldas (CAM) announced today the opening of its new office in Gujarat International Finance Tec-City (GIFT City), approved by International Financial Services Centre (IFSC) in Gandhinagar, Gujarat.
CAM has already received necessary approvals to open an office from the GIFT City authorities.
GIFT City is fast emerging as a preferred destination for Financial Services and IT/ITes companies for setting up their operations here. With proactive rules, competitive tax regime and a simple legal system, GIFT City would be able to attract foreign investors and substantial offshore business. ....

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OECD Report Calls Out Lawyers' Enablement of Financial Crimes


With the Panama and Paradise Papers scandals still fresh in the memory, a recently released OECD report has warned that lawyers, accountants and other professionals continue to play a “key role” in cross-border financial crime as “professional enablers.”
‘Ending the Shell Game: Cracking Down on the Professionals Who Enable Tax and White Collar Crimes,’ which was prepared by the OECD Task Force on Tax Crimes and Other Crimes, outlines the various strategies of professional enablers, while calling on countries to establish capabilities in order to target those that actively participate in financial crimes.
Grace Perez-Navarro, deputy director of the OECD’s Centre for Tax Policy and Administration tells Asian Legal Business that while the vast majority of lawyers do comply with the law and do not facilitate tax crimes, “there is a small minority of lawyers and other professionals who enable these crimes by using their specialised knowledge to help criminals ....

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