Article Type: About

Anil K Rawal joins HSA Advocates as an Advisor

Anil K Rawal joins HSA Advocates as an Advisor

HSA Advocates is pleased to announce the addition of Anil K Rawal as a
Advisor.

Anil is a retired IRS officer and has worked in a multitude of capacities with
the Government of India including investigation arms of the Department of
Revenue i.e., ED, DRI, DGGI etc. on financial investigations and litigation
involving NDPS Act, PMLA and FEMA, etc.. He has represented India on
various global forums of FATF, APG, FSRB.

At HSA, he will be based out of the Firm’s Delhi office. Founding Partner
Hemant Sahai stated that “Mr. Rawal brings with him a wealth of
investigations experience. Given the increased scrutiny on India Inc. by the
investigative agencies under Central and State governments, Anil’s
experience will be a vital asset while advising clients on their mitigation and
response strategies. We are happy to welcome him to HSA.”

Assystem SA France executes definitive documents for acquisition of RELSAFE PRA Consulting Private Limited, an India-based company providing technical consultancy services globally in the nuclear sector

Deal Announcement

Assystem SA France executes definitive documents for acquisition of RELSAFE PRA Consulting Private Limited, an India-based company providing technical consultancy services globally in the nuclear sector

Assystem SA, France (Assystem) has acquired 100% of share capital of India-based RELSAFE PRA Consulting Private Limited (RELSAFE or Company). Post the acquisition, the Company will be a wholly owned subsidiary of Assystem.

RELSAFE provides niche services in risk, safety and reliability assessment/analysis globally, to a highly regulated nuclear energy sector. With a team of specialised and experienced engineers, they have diverse project experience in the areas of probabilistic safety assessment, deterministic safety assessment, reliability/availability analysis, quantitative risk assessment and equipment safety classification.

Assystem is a major independent engineering group with headquarters in France and listed on Euronext Paris, having more than 55 years of experience in highly regulated sectors with stringent safety and security constraints, including the nuclear sector. Assystem, currently ranked as the second largest independent nuclear engineering group in the world, operates in 12 countries with 6,500 experts supporting the energy transition.

With this acquisition, Assystem’s global nuclear risk and safety management team will be augmented and strengthened, bringing specialised technical expertise and new international collaborations. The acquisition will reinforce Assystem’s vision to accelerate the energy transition in the world by contributing to the expansion of nuclear power.

HSA Advocates acted as the legal advisor to Assystem, advising on (i) structuring the transaction; (ii) legal due diligence; (iii) drafting, reviewing, amending, negotiating and finalizing the transaction documents- which included the share purchase agreement, employment agreement for the continuing MD and CEO, agreements for key employees for retention and continuity of employment with the Company, post completion of acquisition, earn-out arrangements and other related documents; and (iv) assisting in execution of the transaction documents and closing of the transactions.

The HSA deal team was led by Soumya Kanti De Mallik, Partner (Delhi), with assistance from Prithviraj Chauhan (Senior Associate), Himanshu Seth (Associate), Taha Abdur Razzack (Associate) and Unnati Goel (Associate).

The selling shareholders were advised by IC Universal Legal, Mumbai.

Armin Pardiwala joins HSA Advocates as a Partner

Armin Pardiwala joins HSA Advocates as a Partner

HSA Advocates is pleased to announce the addition of Armin Pardiwala as a Partner in the Firm’s Corporate & Commercial practice. Armin has almost 26 years of experience in mergers & acquisitions, capital markets, and project financing transactions. She has advised Indian and foreign clients on the entire spectrum of contractual, transactional, and financing aspects. Her practice has a distinct focus on infrastructure projects, PE investments, and India entry support, including regulatory aspects. Armin has notable experience in strategic disinvestments and restructurings of Government entities as well. Immediately prior to joining HSA Advocates, Armin was working with Crawford Bayley & Co. At HSA, she will be based out of the Firm’s Mumbai office. Founding Partner Hemant Sahai stated that – “Armin brings with her a wealth of commercial, transactional, and Government advisory experience. We are happy to welcome her to HSA’s Corporate & Commercial team in Mumbai.”

Khushboo Luthra joins HSA Advocates as a Partner & Chief Marketing Officer

Khushboo Luthra joins HSA Advocates as a Partner & Chief Marketing Officer

HSA Advocates is pleased to announce the addition of Khushboo Luthra as a Partner in the Firm’s Communication and Marketing team.

With over 13 years’ of experience, Khushboo has expertise in integrated marketing, communications, CRM/data integration, and meetings for key account relationships across diverse markets and industry sectors. Her work focusses on helping law firms drive their overall marketing and client outreach initiatives.

Immediately prior to joining HSA Advocates, Khushboo was working with Singhania & Partners LLP. At HSA, she will be based out of the Firm’s New Delhi office.

Founding Partner Hemant Sahai stated that – “We are happy to welcome Khushboo to the HSA team. I am confident that she will add immense value to our ongoing communications efforts, which are now an integral and indispensable part of any professional law firm management.”

HSA Advocates advised Mytrah Energy (India) Pvt Ltd on sale of its 1753 MW renewable portfolio to JSW Neo Energy Ltd

HSA Advocates advised Mytrah Energy (India) Private Limited, on sale of its portfolio of 1753 MW renewable
energy generation capacity to JSW Neo Energy Limited, a wholly owned subsidiary of JSW Energy Limited.
HSA provided full support to acquisition of 15 SPVs and 13 ancillary SPVs having a total installed capacity of
1,449 MW of renewable energy assets; and Infusion of Optionally Convertible Debentures (OCDs) with a
right to convert into equity in the balance 2 SPVs having renewable energy assets of 304 MW and execution
of binding definitive Forward Sale Agreements for these SPVs.
In August 2022, JSW Neo Energy Limited had agreed to acquire portfolio of 1753 MW of renewable energy
generation capacity comprising of 17 SPVs and 1 ancillary SPV. JSW Neo Energy Limited has now acquired
additional 12 SPVs within the already agreed consideration. The estimated enterprise value of the portfolio
is INR 10,150 crore after adjusting the net current assets and other adjustments under the Share Purchase
Agreements.
HSA assisted in structuring the transaction, relevant vendor legal due diligence, drafting, reviewing,
amending, negotiating, and finalizing the transaction documents; and assisting in execution and closing.
The HSA team was led by Jivesh Chandrayan (Partner) with assistance from Sarjana Pandey, Associate, Arnaz
Pestonji, Associate and Anant Joshi, Associate. HSA real estate team supporting the transaction comprised
of Amaresh Kumar Singh (Partner) and Gouri Kotwaliwale, Associate.
Mytrah’s transaction advisors were Barclays and tax advisors were Transaction Square. JSW Neo Energy
Limited was advised by KPMG (transaction advisors), Khaitan & Co (legal advisors) and PWC (financial and
tax advisors).

HSA Advocates is pleased to announce the addition of Satish Anand Sharma as a Partner in the Firm’s Corporate & Commercial and Investment Funds practice areas.

HSA Advocates is pleased to announce the addition of Satish Anand Sharma as a Partner in the Firm’s Corporate & Commercial and Investment Funds practice areas.

Satish has over twenty-one years of experience across the entire spectrum of corporate and B&F transactions, as well as deep expertise in financial regulatory, promoter and shareholder disputes, investment funds and insolvency domains. As a lawyer and a Company Secretary, he has handled legal, corporate and secretarial functions for clients across diverse sectors such as IT, manufacturing, banking, housing finance and non – banking finance, real estate, infrastructure, ports, manufacturing and FMCG. Satish is also an insolvency professional registered with the Insolvency and Bankruptcy Board of India.

Founding Partner Hemant Sahai said, “We are happy to welcome Satish to the HSA Partnership Collegium in our Mumbai office. He is a seasoned lawyer and will bring significant strength and new dimensions to our capabilities in the Corporate and M&A practice, as well as augment the Firm’s key offerings in the growing financial regulatory domain.”

Mytrah Energy hives off renewable energy assets to JSW Neo Energy

Deal Announcement

Mytrah Energy hives off renewable energy assets to JSW Neo Energy

Mytrah Energy (India) Private Limited has entered definitive documents with JSW Neo Energy Limited for the sale of its solar and wind portfolio, consisting of 10 wind projects with a generation capacity of 1,331 MW and 7 solar projects with a generation capacity of 422 MW. The transaction involves acquisition of a portfolio of 1753 MW of renewable energy generation capacity by JSW Neo Energy Limited from Mytrah Energy (India) Private Limited, where JSW Neo Energy Limited has agreed to acquire majority or full control of the corresponding project companies. The estimated enterprise value of the portfolio is INR 10,531 crore. The transaction is subject to receipt of approval of the Competition Commission of India and other customary approvals and conditions. HSA Advocates acted as the legal advisor to Mytrah Energy (India) Private Limited, advising on (i) structuring the transaction; (ii) relevant vendor legal due diligence (iii) drafting, reviewing, amending, negotiating and finalizing the transaction documents; and (iv) assisting in execution. Mr. Hemant Sahai, Founding Partner, provided ongoing strategic guidance on the entire transaction. The HSA deal team was led by Saurya Bhattacharya, Partner (Mumbai) & Head (Kolkata); with assistance from Aseem Sahni (Principal Associate), Arnaz Pestonji (Associate) and Sarjana Pandey (Associate). The HSA legal due diligence team comprised of Saurya Bhattacharya, Amaresh Kumar Singh, Amrita Narayan, Faranaaz Karbhari, Jivesh Chandrayan, Ravi Jain, Sharmil Bhushan and Sumit P (Partners); Aseem Sahni (Principal Associate); Ashwin Rakesh, Jyoti Punjabi and Vaibhav Shrivastav (Senior Associates) and Sarjana Pandey, Arnaz Pestonji, Himanshu Seth, Akriti Shikha, Arnav Sinha and Anant Joshi (Associates). Mytrah’s transaction advisors were Barclays and tax advisors were Transaction Square. JSW Neo Energy Limited was advised by KPMG (transaction advisors), Khaitan & Co (legal advisors) and PWC (tax advisors).

HSA Advocates advised Assystem Group on exit from the joint venture between AXISCADES Technologies Limited (ATL) and Assystem Engineering and Operation Services SAS (AEOS) and sale of their entire stake in the joint venture company, Assystem Axiscades Engineering Private Limited (AAEPL)

HSA Advocates advised Assystem Group on exit from the joint venture between AXISCADES Technologies Limited (ATL) and Assystem Engineering and Operation Services SAS (AEOS) and sale of their entire stake in the joint venture company, Assystem Axiscades Engineering Private Limited (AAEPL)

We are pleased to inform that HSA Advocates advised Assystem Group in terminating their joint venture agreement with ATL in India by sale of 100% of the share capital of AAEPL, the joint venture company. The deal was closed on July 12, 2022. The objective of the transaction was to facilitate the corporate restructuring strategy of Assystem Group in India. The joint venture company (AAEPL) had been established, under the joint venture agreement executed between ATL and AEOS in April 2018, to undertake engineering services consultancy in the energy sector, for Indian and global utilities and contractors. The team provided complete transaction support and was led by Partner Soumya Kanti De Mallik, who was assisted by Senior Associate Prithviraj Chauhan, and Associates Himanshu Seth and Taha Abdur Razzack.

HSA Advocates advised Bytelearn Edtech Private Limited in securing investment from Chiratae Ventures India Fund IV, Leo Technology Fund VCC, 9Unicorns Accelerator Fund and LV Angel Fund

HSA Advocates advised Bytelearn Edtech Private Limited in securing investment from Chiratae Ventures India Fund IV, Leo Technology Fund VCC, 9Unicorns Accelerator Fund and LV Angel Fund

HSA Advocates assisted and advised Bytelearn Edtech Private Limited in the transaction entailing investment by Chiratae Ventures India Fund IV, Leo Technology Fund VCC, 9Unicorns Accelerator Fund and LV Angel Fund and other angel investors.

Bytelearn Edtech Private Limited is a developer of an AI powered teaching assistant that guides students when they get stuck on math problems, evaluates performance, grades tests, and enables them to learn any topic via its AI-powered tutoring engine.

HSA assisted in developing the underlying deal structures, drafting/vetting of transactional documents, negotiating with other parties and advising in structuring. The HSA team was led by Dipti Lavya Swain (Partner, Corporate & Commercial). Team HSA

HSA Advocates advised Greaves Cotton Ltd and Greaves Electric Mobility Pvt Ltd in the strategic investment in MLR Auto Limited

HSA Advocates advised Greaves Cotton Ltd and Greaves Electric Mobility Pvt Ltd in the strategic investment in MLR Auto Limited

HSA Advocates advised and assisted Greaves Cotton Limited and Greaves Electric Mobility Private Limited (previously known as Ampere Vehicles Private Limited) (Greaves Electric Mobility) in the latter’s strategic investment in MLR Auto Limited. Greaves Cotton Limited is a leading and publicly traded mechanical and engineering company, while Greaves Electric Mobility is its e-mobility arm and one of the leading players in the electric vehicles segment in India.

The transaction involved acquisition of 26% stake in electric-3 wheeler manufacturer, MLR Auto Limited by Greaves Electric Mobility. With the conclusion of this acquisition, Greaves Electric Mobility strengthens its position as one of the largest end-to-end players in the last mile mobility segment catering to 85% of the consumer demand.

HSA assisted in structuring the transaction, legal due diligence, as well as negotiation and documentation. It also provided execution and completion related support.

The HSA team was led by Saurya Bhattacharya (Partner-Mumbai & Head-Kolkata) with assistance from Sarjana Pandey, Associate.

The Greaves legal team comprised of Atindra Basu (General Counsel and Company Secretary) along with Kanika Shukla (AGM-Legal) Kamlesh Kulkarni (Deputy Company Secretary) and Divya Shetty (Executive Legal & Company Secretary).