J Sagar Associates

India

Analysis

Overview

J Sagar Associates keeps steadfast in the ‘Outstanding’ ranking for energy, infrastructure, technology and telecommunications, banking and finance, and constructionIts regulatory practice is well-regarded due to the firm’s strong credentials with telecoms, energy and infrastructure authorities and also rises up into the Outstanding tier this year. It moves up also in aviation and banking and financial servicesFinance partners Divyanshu Pandey and Arpita Garg left for S&R Associates. Its capital markets team enjoyed a power surge with the joining of finance-related specialists form AZB & Partners, Madhurima Mukherjee and Niruphama Ramakrishnan. Corporate team welcomed partners Apurva Jayant and Rajeev Reddy, who join from L&L Partners and Tava Legal respectively. TMT expert Asim Abbas left for L&L Partners, while Mansoor Ali Shoket left to establish his own chambers, RegLaw Chambers. Banking partner Pratish Kumar joined from Juris Corp in July, 2021. 

Client feedback 

The partner and staff are very knowledgeable on the subject matters and helped craft a very good strategy for both my matters. The partners are very accessible. – Dispute resolution 

Ananya Kumar 

Strong domain knowledge and very accessible. 

Pratish Kumar

“He is accessible, responsive, has thorough professional knowledge and adheres to timelines.”

Private equity

Work highlights 

Advised the Qualitest Group in their 100% acquisition of software testing services company QA Infotech Software Services for $115 million.  

Acted for Mauritius fund Evolvence India Fund III as the lead investor in a $14 Million investment in Hella Infra Market.  

Assisted Godrej Fund Management on establishing the Build-To-Core II platformThe platform will invest in developing Grade-A office buildings at leading key markets in India. 

Key clients 

Affirma Capital, Altruista Health Holdings, Creation Investments India III, TVS Supply Chain Solutions  

Restructuring and insolvency

Work highlights 

Advised the committee of creditors (CoC), comprising 40 Indian and foreign banks and financial institutions, in the Reliance Communications insolvency.  

Assisted the resolution professional in the entire corporate insolvency resolution process of Sai Regency Power Corporation. 

Representing the committee of creditors of Dewan Housing Finance in the first- of- its- kind resolution of a financial services provider under the Insolvency and Bankruptcy Code. 

Key clients 

Uttam Galva Metallics 

Corporate and M&A

Work highlights 

Assisted Google on its $4.5 billion strategic investment in Jio Platforms 

Adivsed Mastercard International on its 100% acquisition of Finicity and subsidiary Finicity Technologies for $825 million.  

Represented Krishak Bharati Cooperative in the sale of 76% shares of its wholly owned subsidiary, KRIBHCO Infrastructure to Continental Warehousing Corporation 

Key clients 

Grupo Bimbo, Masco Corporation, Pentland Brands, Taikisha  

Capital markets

Work highlights 

Advised Axis Capital and ICICI Securities in relation to the IPO of Rossari Biotech 

Acted for the lead managers of STFC rights issue that was one of a handful that occurred during the pandemic. The issue saw 159.83% oversubscription.  

Assisted The Phoenix Mills on its QIP of equity shares with the lead managers including CLSA India, HSBC Securities and Capital Markets, and UBS Securities, among others.  

Key clients 

Craftsman Automation, Laxmi Organic Industries, RailTel Corporatin of India, Route Mobile 

Banking and finance

Work highlights 

Advised Kotak Mahindra Bank as the arranger in relation to the issuance of redeemable, senior, secured, rated and listed market-linked non-convertible debentures by Embassy Property Development 

Acted for Propartco in connection with an external commercial borrowing facility aggregating up to $70 million to Shriram Transport Finance Company, secured by specific loan book receivables of the borrower. 

Represented Citibank and Japan International Cooperation Agency as lenders to a foreign currency external commercial borrowing facility to PNB Housing Finance.  

Key clients 

DBS Bank, Dilip BuildconHDFC Bank, John Deere Financial India 

Energy

Work highlights 

Represented Hero MotoCorp on its Series C1 investment into AtherEnergy Private. 

Successfully represented UltraTech Cement before the Andhra Pradesh Electricity Regulatory Commission in obtaining a relief that the power consumed from waste to heat recovery system -based cogeneration plants have to be treated at par with consumption of electricity from renewable energy sources.  

Advised Temasek and EQT Group in connection with setting up a renewable energy platform in India to develop and acquire renewable energy assets in areas like solar and wind energy. 

Key clients 

Connectwell Industries, GM Vemagiri Power Generation, India Grid Trust, Lalipur Power Generation  

Infrastructure

Work highlights 

Represented the Yamuna Expressway Industrial Development Authority before the National Company Law Tribunal in its challenge against the Resolution Plan of Jaypee Infratech. 

Real estate

Work highlights 

Advised IndiaBulls Real Estate in the proposed merger of NAM Estates Privatand Embassy One Commercial Property Developments Private 

Represented Embassy Group and WeWork India Management in connection with the $100 million investment by WeWork International K. 

Key clients 

APG Strategic Real Estate, Emaar India, EvolvenceIDFC First Bank