The ongoing insolvency proceeding of Go Airlines (India) Ltd has ignited a discourse regarding the application of the Insolvency and Bankruptcy Code, 2016 (IBC) to airline insolvencies in India. Although insolvencies of airlines are covered by the Cape Town Convention, certain provisions of the Cape Town Convention conflict with the applicability of the IBC in […]

The Hon’ble Rajasthan High Court (High Court) in Minakshi Choudhary v. Rajasthan State Road Transport Corporation & Ors. held that denying maternity benefits guaranteed under the Maternity Benefit Act, 1961, is violative of the fundamental rights enshrined in Articles 14 and 21 of the Constitution of India. We discuss the ruling and its implications here.

On 9 September 2024, the Ministry of Corporate Affairs has notified several provisions of the Competition (Amendment) Act, 2023 along with the related rules and regulations including introduction of the ‘deal value threshold’. In this update, we have summarized some of the key changes brought about in the merger control regime

The Indian Constitution under Part III provides various fundamental rights which are sacrosanct and cardinal principles to achieve the core objectives of liberty, equality and dignity envisaged under the Indian Constitution. The rights under Part III create a corresponding obligation upon the State to ensure that the fundamental rights are not violated. In order to […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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, […]

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 […]

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). […]

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 […]

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, […]

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, […]

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 […]

We are pleased to announce that Acuity Law acted as the sole legal advisor to Sreyas Holistic Remedies Private Limited operating under the brand name of ‘Oliva Skin and Hair Clinic’ (“Oliva”), and Dr. Prashant Soma, promoter and shareholder of Oliva, in an investment of approximately USD 65 million by Kedaara Capital Growth Fund III […]

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 was led by Souvik Ganguly.

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 […]

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 […]

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.  […]

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 […]

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. The team led […]

Acuity Law acted as the India legal counsel to Digital OnUs Inc., in a transaction where Digital OnUs Inc. was acquired by Tech Mahindra Limited. Digital OnUS Inc. is a hybrid-cloud digital entity, which provides end-to-end transformation and new age capabilities including enterprise DevOps and cloud native development technologies. The total deal value for the […]

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 […]

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 […]