Souvik Ganguly

Managing Partner

Qualifications

B.A. (Hons.) History, St, Stephen’s College, Delhi, LL.B. (Hons.), Faculty of Law Institute, Delhi University, LL.M., University College London, University of London

Memberships

Bar Council of Delhi, International Bar Association

About

Souvik is the Founder and Managing Partner of Acuity Law. With a practice of more than 22 years, Souvik specialises and advises all participants in mergers and acquisitions; private equity and venture funding; on matters relating to corporate governance, corporate policy, and strategy. He has represented numerous public, private and government businesses, and their boards in domestic and cross border transactions. His practice also includes employment and labour laws, insolvency law and commercial and trading arrangements. Prior to founding Acuity Law, Souvik was a partner at BMR Legal and also worked at AZB & Partners, a leading law firm in India and Trowers & Hamlins, a reputed international law firm in the Middle East. Souvik was called to the Bar in the year 2001 and qualified as a solicitor of England and Wales in the year 2005. Some of Souvik’s significant publicly disclosed representations include:

  • Nippon Steel Corporation in ~$ 5.9bn rescue of Essar Steel.
  • DigitalOnUs it is $ 120mn acquisition by Tech Mahindra.
  • NABVENTURES Limited, a wholly owned subsidiary of the National Bank for Agriculture and Rural Development, in various investments in the agri-tech sector and its exit from Fraazo.
  • Rebright Partners III Investment Partnership and Avaana Capital Growth Fund I in their investment in Eggoz.
  • DAIKO Inc., Japan on acquisition of From Here On Communications.
  • Incofin Investment Management in its investment in Unnati agri, an agritech start-up.
  • Vincotte International in acquisition of controlling stake in Mumbai-based non-destructive testing (NDT) services provider Geecy Industrial Services Private Limited.
  • Kawasaki Rikosu Transport, Japan on entry strategy in the agri-logistic sector and acquisition of a logistics company.
  • Tata Realty and Infrastructure Limited on its acquisition of various road assets and establishment of ropeways in Northern India.
  • Invoice Bazaar in its acquisition by Triterras Fintech Pte. Limited, a NASDAQ listed company.

Related Posts

March 4, 2024

Acuity Law assisted Webber Wentzel in funding of INR 13.2 billion (~USD 159 million).

We are pleased to announce that in the transaction involving Varun Beverages Limited’s proposed acquisition of South Africa-based The Beverage Company (Proprietary) Limited and its wholly-owned subsidiaries (BEVCO), Acuity Law assisted Webber Wentzel, legal counsel to BEVCO and its shareholders, on India law related matters. BEVCO is engaged in the business of manufacturing and distributing…
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March 4, 2024

Acuity Law acted as the legal advisor to BL Taparia Family Office on investment in Arcatron Mobility (Arcatron)

We are pleased to announce that Acuity Law acted as the legal advisor to BL Taparia Family Office in its follow-on investment in Arcatron Mobility (Arcatron). This investment round was led by OrbiMed, a global healthcare-focused private equity firm. To read more about the transaction please click here.  Arcatron under the brand “Frido” designs mobility products,…
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March 4, 2024

Acuity Law acted as the legal advisor to NABVENTURES Limited in funding round of INR 1.25 billion (~ USD 14.9 million).

We are pleased to announce that Acuity Law acted as the legal advisor to NABVENTURES Limited and NABVENTURES FUND I (together referred to as NABVENTURES) in its investment in Homeville Consulting Private Limited (owner of Bharat Housing Network) (Company). NABVENTURES was the lead investor in this funding round of INR 1.25 billion (~USD 14.9 million).…
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May 22, 2023

Justice, Equity and Lifting of the Corporate Veil

One of the fundamental principles of company law is the principle of separate legal personality of a corporation. A company is regarded as a distinct person with its own rights and liabilities that are independent of its shareholders or management. The doctrine of piercing or lifting the corporate veil stands as an exception to the…
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July 25, 2023

Evolving jurisprudence of homebuyers under the Insolvency and Bankruptcy Code, 2016

Introduction A booming population, growing income and rapid urbanization has made India one of the fastest-growing major economies of this century. As per the World Bank[i], India’s GDP grew from USD 37 billion in 1960 to USD 3.18 trillion in 2021, registering an annual average growth over 5 per cent[ii]. India’s real estate sector has…
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February 20, 2020

15 Key Developments in IBC 2016 (in 2019)

In the winter of 2015, the Indian Legislature sought to tackle the persistent problem of bad debts affecting Indian financial institutions and trade creditors by enacting the Insolvency and Bankruptcy Code, 2016 (“Code”), which was finally notified in May 2016. The key purpose of the enactment was to consolidate and amend the laws relating to reorganization and…
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May 13, 2022

The Booming Indian Education Sector: Implementation of the Foreign Academic Collaboration Regulation by the UGC

The India Brand Equity Foundation, a trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India (GOI) has reported[1] that, India has the largest population in the world in the age bracket of 5-24 with 580 million people and has over 250 million school-going students. These numbers are certainly attractive…
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March 25, 2020

Recent Developments on Virtual Currencies in India

The issuance of currency is a sovereign function and fiat currency is the currency that the government has declared to be legal tender. A virtual currency (“VC”), on the other hand, is a digital representation of value that can be digitally traded and function as a medium of exchange. Cryptocurrencies such as Bitcoin Ethereum, Ripple,…
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April 15, 2020

Industrial Relations Code, 2019 – Will it Increase ‘ease of Doing Business’ in India?

India’s effort to implement major legislative reforms has been recognized by the World Bank as India joins the list of top ten improvers in the ‘Ease of Doing Business’ rankings published by the World Bank for the third consecutive year. Major contributors to India’s jump to 63rd place are reforms in insolvency law, starting a…
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June 12, 2020

Competition Act, 2002: A Time to Re-invent the Wheel Amidst Covid 19?

India is facing two of its biggest challenges due to the outbreak of the COVID-19 pandemic viz., (a) providing healthcare services to the needy and, (b) providing employment to its huge workforce. While the government has given assurances that essential services shall continue, there are concerns regarding disruptions to the supply chain including issues of…
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June 14, 2021

Personal Guarantee: The Enforcement Begins

On 21 May 2021, the Supreme Court of India, in the case of Lalit Kumar Jain vs. Union of India & Ors, upheld the provisions of the Insolvency and Bankruptcy Code, 2016 (“Code”) which permitted banks to proceed against personal guarantors for recovery of loans given to a company. Under the Code, the Government of India…
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July 15, 2023

NABVENTURES invests in Beyond Snack

We are pleased to announce that Acuity Law acted as the legal advisor to NABVENTURES Limited and NABVENTURES FUND I (together referred to as “NABVENTURES”) in its investment in Dr Jackfruit India Private Limited (operating under the brand name of “Beyond Snack”). NABVENTURES invested approximately USD 3.5 million in this funding round. To read more…
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March 4, 2024

Arcatron (a medical device company) Raises Funds From Orbimed (US

We are pleased to announce that Acuity Law acted as the legal advisor to BL Taparia Family Office in its follow-on investment in Arcatron Mobility (Arcatron). This investment round was led by OrbiMed, a global healthcare-focused private equity firm. To read more about the transaction please click here.  Arcatron under the brand “Frido” designs mobility products,…
Read more
October 19, 2021

NABVENTURES exits FRAAZO

We are pleased to announce that Acuity Law acted as the legal advisor to NABVENTURES in its exit from FRAAZO. This was NABVENTURES’ first exit transaction. NABVENTURES sold its minority stake in FRAAZO (a D2C brand in the fresh fruits and vegetables market) to incoming investor Westbridge Capital. Acuity Law assisted NABVENTURES in finalising the…
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November 23, 2021

NABVENTURES invests in Vilcart

We are pleased to announce that Acuity Law acted as the legal advisor to NABVENTURES Limited and NABVENTURES FUND I (together referred to as NABVENTURES) in its investment in Vilcart Solutions Pvt. Ltd (Vilcart).    NABVENTURES Fund I is managed by NABVENTURES Limited, a wholly owned subsidiary of the National Bank for Agriculture and Rural Development (NABARD). Vilcart is a start-up company which is re-defining the rural unorganised retail industry with the use of technology. …
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December 9, 2022

NABVENTURES invests in Eggoz

We are pleased to announce that Acuity Law acted as the legal advisor to NABVENTURES Limited and NABVENTURES FUND I (together referred to as NABVENTURES) in its investment in Nupa Technologies Pvt. Ltd (Eggoz). NABVENTURES Fund I is managed by NABVENTURES Limited, a wholly owned subsidiary of the National Bank for Agriculture and Rural Development…
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March 1, 2023

Acquisition of shares of Vivaldis

We are very happy to share that we represented Vivaldis Health and Foods Private Limited and its promoters in a transaction, the details of which are available here. Other coverage of the deal By Business Standard – Available here By Mint – Available here By CNBC – Available here By Zee Business – Available here The transaction team members at Acuity Law were…
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February 8, 2024

Acuity Law Advises on India Law Issues on INR 13.2 Billion USD 159 Million M&A Deal

We are pleased to announce that in the transaction involving Varun Beverages Limited’s proposed acquisition of South Africa-based The Beverage Company (Proprietary) Limited and its wholly-owned subsidiaries (BEVCO), Acuity Law assisted Webber Wentzel, legal counsel to BEVCO and its shareholders, on India law related matters. BEVCO is engaged in the business of manufacturing and distributing…
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March 1, 2023

Acuity Law representesh Venktesh, in the Series B Funding Round in Arcatron Mobility

We are pleased to announce that Acuity Law acted as the sole legal advisor to Venktesh Investment and Trading Company Private Limited (“Venktesh”) in its investment in Arcatron Mobility Private Limited (“Company”). Venktesh was the lead investor in this series B funding round of INR 12.5 crores. To read more about the transaction please click…
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March 18, 2020

ESSAR STEEL – INR 420 BILLION (~USD 5.9 BILLION) CONCLUDED

We are pleased to announce that Acuity Law advised Nippon Steel Corporation (formerly known as Nippon Steel & Sumitimo Metal Corporation) in conducting legal due diligence on the affairs of Essar Steel Limited and on various aspects of the Insolvency & Bankruptcy Code, 2016. The team at Acuity Law was led by Souvik Ganguly and…
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May 2, 2024

Investment in Akshamaala Solutions Private Limited by NABVNETURES FUND I

We are pleased to announce that Acuity Law was the legal advisor to NABVENTURES Fund I in the seed round funding of ~USD 1.7 million in Akshamaala Solutions Private Limited. Acuity Law’s role included conducting legal due diligence on the company and advising on issues identified from the legal due diligence, their implications and recommending…
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April 30, 2024

INVESTMENT IN GFM RETAIL PRIVATE LIMITED (TENDERCUTS) BY NABVNETURES FUND I

Acuity Law advised NABVENTURES Fund I in a funding round of INR 110 crores (~USD 15 million) in TenderCuts, which is a new age Tech enabled company providing freshly cut meat and seafood to customers through our neighborhood stores, which caters not only to retail as well as new age online consumer. Our team was…
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May 2, 2024

Acquisition of Digital OnUs Inc. by Tech Mahindra Limited

We are pleased to announce that Acuity Law acted as the legal counsel to NABVENTURES Fund I (managed by NABVENTURES), in which NABARD (India’s premier agricultural finance and rural development institution) is the anchor investor, in its recent investments in TenderCuts. NABVENTURES, together with co-investor Paragon Partners, invested $15 million in TenderCuts, which is an…
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