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<ul><li>On August 25, SEBI had informed the apex court that it has completed its <keyword id="76451" type="General" weightage="100" keywordseo="adani" source="Orion">Adani</keyword> probe.</li><li>The apex court is seized of four PILs on the Adani-Hindenburg controversy.</li></ul> Market regulator SEBI suppressed important facts from the <keyword id="6354977" type="General" weightage="20" keywordseo="Supreme-Court" source="Orion">Supreme Court</keyword> and "slept over" Directorate of Revenue Intelligence's letter on alleged stock manipulation by the Adani firms, one of the PIL petitioners in the Adani-Hindenburg row has alleged in the top court in an affidavit. The apex court is seized of four PILs on the Adani-Hindenburg controversy including those by lawyers M L Sharma and Vishal Tiwari, Congress leader Jaya Thakur and law student <keyword id="18738982" type="General" weightage="50" keywordseo="anamika-jaiswal" source="Orion">Anamika Jaiswal</keyword>. On August 25, SEBI had informed the apex court it has completed the probe in all but two allegations against the Adani group, and is still awaiting information from five tax havens on the actual owners behind the foreign entities that have invested in the conglomerate. The Securities and Exchange Board of India (SEBI), in a status report to the Supreme Court, said out of the 24 matters it was probing, findings in as many as 22 are final. In an affidavit filed before the top court, Anamika Jaiswal has said while the investigation against the Adani group was going on in the over invoicing case, the Directorate of Revenue Intelligence (DRI) sent a letter to the then SEBI chairperson in 2014 alerting him that the group may be committing stock market manipulation using the money allegedly siphoned off using the modus operandi of over-valuation in the import of power equipment. The letter was accompanied by a CD containing evidence of siphoning off Rs 2,323 crore and two notes on the case being investigated by the DRI, the affidavit claimed. The letter, the affidavit said, also stated that more documents may be obtained from the Mumbai Zonal Unit of the DRI. "The petitioner herein submits that not only has the SEBI suppressed important facts from this court and slept over DRI alerts, but there is also an apparent conflict of interest in SEBI conducting Adani investigation. "Mr. Cyril Shroff Managing Partner, <keyword id="2839992" type="General" weightage="50" keywordseo="cyril-amarchand-mangaldas" source="Orion">Cyril Amarchand Mangaldas</keyword> has been a member of SEBI's Committee on Corporate Governance, which looks at offences like insider trading," the affidavit said, adding his daughter is married to <keyword id="111343" type="General" weightage="50" keywordseo="gautam-adani" source="Orion">Gautam Adani</keyword>'s son. This, the affidavit said, shows a clear conflict of interest. The petitioner submitted that five out of the 24 SEBI investigation reports are on insider trading allegations against the Adani group companies. Referring to documents that have been unearthed during investigation by a journalist consortium 'Organized Crime and Corruption Reporting Project', the affidavit said two Mauritius based companies- Emerging India Focus Fund (EIFF) and the EM Resurgent Fund (EMRF)- had invested and traded in a large volume of shares of four Adani companies between 2013 and 2018. "The names of these two companies figure in SEBI's list of 13 suspected Foreign Portfolio Investments /overseas entities but SEBI has been unable to trace their ultimate beneficial owners or economic interest shareholders," Jaiswal has claimed in the affidavit. The petitioner said frequent amendments brought in by SEBI to the regulations and definitions have benefitted Adani Group. "These amendments have in fact provided a shield and an excuse to the Adani Group, due to which their regulatory contraventions and price manipulations remained undetected. "Even now, the expert committee has cited the said amendments as an excuse to declare that the investigation with regard to issues as mentioned in Hindenburg Report may be a journey without a destination," the affidavit said. Hindenburg Research, in a January 24 report, had alleged accounting fraud, stock price manipulation and improper use of tax havens, triggering a stock market rout of the Adani group shares that erased close to USD 150 billion in market value at its lowest point. Following this, the Supreme Court asked SEBI to look into the allegations and submit its findings. In March, a separate six-member expert panel was formed which included a retired judge and veteran bankers, to go into regulatory aspects of the allegations. That panel said in May the SEBI has so far drawn a blank in its investigations and its ongoing pursuit of the case is a "journey without a destination". The apex court set August 14 as the deadline for SEBI to conclude its probe and submit the report. The regulator sought a 15-day extension to conclude the investigation. It has now submitted a status report on its probe. On its part, the Adani group has rejected all allegations.

SEBI suppressed important facts and "slept over" DRI info on stock manipulation by Adani: Petitioner tells SC

Seeking to remove bottlenecks and streamline resolution process, the Cabinet on Wednesday approved further amendments to the more than three-year-old insolvency law wherein successful bidders will be ring fenced from any risk of criminal proceedings for offences committed by previous promoters of companies concerned. The Insolvency and Bankruptcy Code (<keyword id="192838" type="ORGANIZATION" weightage="20" keywordseo="IBC">IBC</keyword>), which came into force in 2016, has already been amended thrice. The latest changes pertain to various sections as well as introduction of a new section. The IBC (Second Amendment) Bill, 2019, is likely to be introduced in the current session of the Parliament, according to a senior official.
 The amendments are aimed at removing certain difficulties being faced during insolvency resolution process to realise the objectives of the Code and to further ease doing of business, an official release said.
 In a significant move, there would be ring-fencing of corporate debtor resolved under the IBC in favour of a successful resolution applicant from criminal proceedings against offences committed by previous management/ promoters.
 It assumes significance against the backdrop of instances of enforcement agencies taking action in case of companies where the resolution process has already been completed.
 Providing immunity to the corporate debtor that has been resolved under the IBC process and also from encumbering such an entity's properties. The successful bidder should not have the risk of a corporate debtor being made an accused by any enforcement agency, the official said.
 According to the release, the amendments would remove bottlenecks, streamline the corporate insolvency resolution process and that protection of last mile funding would boost investment in financially-distressed sectors.
 "Additional thresholds introduced for financial creditors represented by an authorized representative due to large numbers in order to prevent frivolous triggering of Corporate Insolvency Resolution Process (CIRP)," it added.
 The amended Act would also ensure that the substratum of the business of corporate debtor is not lost. It can continue as a going concern by clarifying that the licences, permits, concessions, clearances etc cannot be terminated or suspended or not renewed during the moratorium period, the release said.
 Law firm <keyword id="2839992" type="COMPANY" weightage="20" keywordseo="Cyril-Amarchand-Mangaldas">Cyril Amarchand Mangaldas</keyword> Managing Partner Cyril Shroff said the proposed changes, especially those related to ring-fencing, should help restore investor and banker confidence in the IBC process. "The government has rightly enhanced the focus on ensuring sustenance and recovery of businesses from bankruptcy, which is essential to sustain the economy and drive growth. Additional focus is now needed on boosting IBC related infrastructure, to hasten the recovery process," he noted. RAM RAM ABM
ABM

India amends bankruptcy law to protect winning bidders from paying the price for sins of the previous promoter

<ul><li>Saaho, the mega-budget movie of South Indian superstar Prabhas has one 18 minutes long sequence that cost ₹650 million. </li><li>"Saaho" is scheduled to release in three languages -- Hindi, Telugu and Tamil on August 30. </li><li>AMB Cinemas in Hyderabad, which was among the first to open windows for booking, said they've sold 25,000 tickets for 83 shows </li></ul>Saaho, the mega-budget movie of South Indian superstar Prabhas boasts of something even his super hit series <keyword id="6355407" type="UNKNOWN" weightage="20" keywordseo="bahubali">Bahubali</keyword> cannot. The high octane action flick has a single 18 minute-long sequence that cost ₹65 crore to make it. The total budget of the movie is at around ₹350 crore. <a href="https://www.koimoi.com/bollywood-news/saaho-65-crores-for-18-minutes-sequence-director-sujeeth/">In an interview with The Hindu, Sabu Cyril said</a>, “It wouldn’t have been possible to shoot the chase sequence that happens in the middle of the city and extends to a few kilometres away in real locations, so we recreated portions of Abu Dhabi.” Saaho is scheduled to release in three languages -- Hindi, Telugu and Tamil on August 30. The film is directed by Sujeeth, and co-stars Shraddha Kapoor, Neil Nitin Mukesh and Jackie Shroff in key roles. Saaho registers a massive pre-booking Theatres across Hyderabad witnessed an extensive advance booking soon after the tickets window opened. AMB Cinemas in Hyderabad, which was among the first to open windows for booking said they've sold 25,000 tickets for 83 shows. As of August 29, there were hardly any tickets left on BookMyShow for the show. According to IBtimes, AMB Cinemas are running shows with 308 seats and can earn upto ₹62,800 for each of the show. Saaaho will be released in IMAX too The action thriller also has an IMAX version which will be released in India and abroad. The film has been digitally re-mastered into an immersive IMAX format. While it has become a common to release Hollywood films in IMAX screens, Bollywood has not yet caught the trend is not yet prevalent among Indian filmmakers, particularly the ones in Bollywood. Aamir Khan’s Dhoom 3, Akshay Kumar’s Gold and Rajnikanth’s 2.O are amongst the few Indian films to be released on IMAX. "We are thrilled to partner with UV Creations and T-Series on the release of Saaho, a pulse-pounding, non-stop action epic that deserves to be experienced in IMAX," Megan Colligan, President of IMAX Entertainment and Executive Vice President, IMAX Corp said. (with IANS)

Prabhas’ Saaho has a single 18 minute sequence that cost ₹65 crore

One of the country’s biggest lawyers, <keyword id="351744" type="PERSON" weightage="80" keywordseo="Cyril-Shroff">Cyril Shroff</keyword>, recently met <keyword id="141786" type="POSITION" weightage="80" keywordseo="Minister-of-State-for-Finance">minister of state for finance</keyword>, Jayant Sinha, with a unique proposition-a solution to pay off small investors impacted by the NSEL scam. Shroff, met with the <keyword id="6356245" type="POSITION" weightage="80" keywordseo="minister">minister</keyword>, acting on behalf of Jignesh Shah promoted <keyword id="45583" type="COMPANY" weightage="80" keywordseo="Financial-Technologies">Financial Technologies</keyword> (FTIL), with a settlement plan to address the claims of small and mid-sized investors on scam-hit <keyword id="381971" type="COMPANY" weightage="80" keywordseo="National-Spot-Exchange-Ltd">National Spot Exchange Ltd</keyword> (NSEL). 
 
According to an Economic Times report, the plan, without prejudice to FTIL's legal rights, subject to board and shareholder approval and acceptance by brokers and investors, envisages FTIL and brokers contributing Rs 500 cr each to completely pay off investors, who've lost Rs 2 lakh-Rs10 lakh on the bourse, and return half the amount to those who've invested between Rs 10 lakh and Rs 1 cr. 
 This, however may still fall short of investor and <keyword id="2772146" type="UNKNOWN" weightage="80" keywordseo="broker-expectations">broker expectations</keyword> of FTIL putting up Rs 1,100 crore. When contacted Venkat Chary, chairman, FTIL told ET, "Around 94% of investors' claims can be immediately addressed in part or full measure by this Rs 1,000 crore payment." However, Chary said he was unaware of an FTIL offer of Rs 1,100 crore. 
 
The report said that FTIL's share of Rs 500 cr (as per the recent plan presented by Shroff) includes the Rs 180-cr bridge loan to NSEL in 2013 to claimants below Rs 2 lakh. Effectively, FTIL would chip in Rs 320 cr, making it a proposal that's unlikely to go down well with brokers. The plan submitted to Sinha also envisages that 781 high networth investors, or 6% of the total claimants, will receive 50% of their invested amounts while state-owned MMTC and PEC, collectively owed over Rs 300 crore, would receive 100% through recovery from defaulters who used NSEL to raise funds and have admitted to their liabilities. 
 ET said the proposal comes days ahead of the Company Law Board Delhi’s hearing of a government petition to supersede the board of FTIL on Thursday. The government has also passed a draft order to merge NSEL with FTIL in public interest under Section 396 of the Companies Act. The draft order has been challenged by FTIL. Responding to ET's email query on whether the proposal was good enough for the government to withdraw proceedings, Shroff said, "My clients FTIL are firmly committed to a solution. It is in that spirit that through me they have voluntarily suggested a <keyword id="2772149" type="POSITION" weightage="80" keywordseo="path-forward">path forward</keyword> which adequately addresses the interests of all stakeholders. Speaking on behalf of FTIL and on my own behalf (as someone who has practised in the market a long time), I believe this is a fair proposal. With the necessary encouragement and support from the government this issue can be completed swiftly and can be off the table of the government. I am hoping that the government will consider the proposal in the right spirit. This will go a long way in bringing an early end to the litigation." The defaulters owe well overRs 5,000 crore to more than 13,000 investors on the bourse after it was found in mid 2013 that commodities against which they raised the funds were absent, resulting in a massive scam on the bourse. 
 
FTIL's condition for the success of the proposal hinges on the government leaning hard on 24 defaulters on NSEL to pay up dues amounting to over Rs 5,000 crore, withdrawing its "not fit and proper order" of December 2013 that declared FTIL unfit to run a national commodity exchange, withdrawing an order by the corporate affairs ministry to merge NSEL with FTIL as well as proceedings to supersede the board of the holding company. 
 It also requires the withdrawal of all criminal and civil proceedings against FTIL, NSEL and directors of the two companies, among others, in the <keyword id="242585" type="ORGANIZATION" weightage="80" keywordseo="Mumbai-sessions-court">Mumbai Sessions Court</keyword> and <keyword id="48485" type="ORGANIZATION" weightage="80" keywordseo="Bombay-high-court">Bombay High Court</keyword>. Asked whether this was a lastditch attempt by FTIL to prevent a merger of NSEL with itself, Chary said, it was a "goodwill gesture" of the company, "without prejudice to its legal rights" so as to focus on its business by avoiding time-consuming legal proceedings. "I am confident we will win the merger case proceedings (against the government) in the Bombay HC," said Chary, adding that a "merger of private companies with distinct legal identities would bring down the whole edifice of the limited liability concept." However, brokers and affected investors of NSEL, who allege that FTIL was instrumental in the scam, believe the government's case for a merger is watertight.

NSEL SCAM: This is how top lawyer Cyril Shroff wants
to save small investors impacted by the NSEL scam

New Delhi, Mar 27 () A slew of measures announced by the RBI on Friday would help mitigate the impact of coronavirus-related lockdown on businesses, the industry said. The industry said that the steps would help push lending rates down, encourage banks to infuse money into productive sectors, infuse liquidity and address the financial stress in the system. The RBI on Friday allowed banks to put on hold EMI payments on all term loans for three months and cut interest rate by the steepest in more than 11 years as it joined the government efforts to rescue a slowing economy that has now got caught in coronavirus whirlwind. The Reserve Bank of India (RBI) cut repo to 4.4 per cent, the lowest in at least 15 years. Also, it reduced the cash reserve ratio maintained by the banks for the first time in over seven years. CRR for all banks was cut by 100 basis points to release Rs 1.37 lakh crore across the banking system. "The current situation in the economy and financial markets is extremely fragile and it required a massive dose of monetary stimulus to be injected at the earliest. The RBI has done just that. This should help lift the spirit of economy, " Ficci President Sangita Reddy said. "This, together with a host of other measures to boost liquidity will address the financial stress in the system on account of the COVID-19 outbreak and the consequent lockdown. The substantial reduction in the CRR will help banks to reduce their lending rates and aid monetary transmission, " CII Director General Chandrajit Banerjee said. Assocham President Niranjan Hiranandani said these measures, including reducing the cost of borrowing and reduction in the CRR would ensure India's financial stability at a time when there is heightened volatility in the global financial markets, with a desperate rush towards security. Cyril Shroff, Managing Partner at Cyril Amarchand Mangaldas said: "The RBI has unleased a bazooka to deal with the economic pain and uncertainty prevailing in the wake of the COVID crisis. Acting swiftly and decisively, the RBI has used several levers to increase liquidity in the system". PHD Chamber President D K Aggarwal said these measures will provide adequate liquidity in the system, bring down the cost of capital and mitigate the impact of pandemic COVID-19. The reverse repo rate was cut by 90 bps to 4 per cent, creating an asymmetrical corridor. RBI Governor Shaktikanta Das predicted a big global recession and said India will not be immune. It all depends how India responds to the situation, he said. Global slowdown could make things difficult for India too, despite some help from falling crude prices, Das said, adding food prices may soften even further on record crop production. Aggregate demand may weaken and ease core inflation further, he noted. After cutting policy rates five times in 2019, the RBI had been on a pause since December in view of high inflation. The measures announced come a day after the government unveiled a Rs 1.7 lakh crore package of free foodgrains and cash doles to the poor to deal with the economic impact of the unprecedented 21-day nationwide lockdown. While the Monetary Policy Committee (MPC) of the RBI originally was slated to meet in the first week of April, it was advanced by a week to meet the challenge of coronavirus. RSN MR

RBI steps to help mitigate impact of coronavirus lockdown on biz: Industry

<ul><li>Cousins Adi Godrej and Jamshyd Godrej are known to have differences in opinion on how to develop their massive land bank </li><li>Their grandfathers have founded the Godrej Group and have been acquiring this land since the 1940s. </li><li>Jamshyd has hired Nimesh Kampani of J M Financial while Adi and his brother Nadir have hired Uday Kotak and Cryril Shroff for negotiations.</li></ul>One of India’s oldest business families of India, Godrej has decided to split their enormous land holdings, tangled between themselves, to make way for real estate development, according to reports. Cousins Adi Godrej and Jamshyd Godrej are known to have differences in opinion on how to develop their massive land bank that extends over 3,400 acres in Mumbai. The Godrej family released a joint statement by Adi Godrej and Jamshyd Godrej, calling them ‘normal’ family discussions. 
 <div type="ExtQuote" text="We have been working on a long term strategy plan for the Group for several years. As part of this exercise, we have sought advice from external partners to help us think through options. The family regrets the sensationalist media coverage of these normal and private family discussions." auname="Statement by Godrej family"></div>

 Their grandfathers have founded the Godrej Group and have been acquiring this land since the 1940s. And a large chunk of it, around a 1,000 acres lies in the prime real estate areas of Vikhroli. While Adi heads Godrej Consumer and Godrej Properties, Jamshyd is the chairman and managing director of Godrej and Boyce. The closely held Godrej and Boyce is the owner of most of this land, while Adi’s real estate development company, Godrej Properties pays around 15% of the project revenue to them,<a href="https://economictimes.indiatimes.com/news/company/corporate-trends/godrej-family-may-rework-pacts-after-rift-over-land/articleshow/69966815.cms"> as per an ET report</a>. Now, however, both sides have hired investment bankers and lawyers to re-work family arrangements, in order to make way for Adi’s properties business to turn into the city’s largest real estate developer. Top investment bankers will be a part of tough negotiations to untangle the complicated family pacts. While Jamshyd has hired Nimesh Kampani of J M Financial while Adi and his brother Nadir have hired Uday Kotak the chairman of Kotak Mahindra Bank and Cryril Shroff of Cyril Amarchand and Mangaldas, as per a<a href="https://www.business-standard.com/article/companies/godrej-family-hires-top-law-firms-to-untangle-land-holdings-worth-rs-20k-cr-119062700056_1.html"> report by Business Standard</a>. The Godrej Group was founded by Ardeshir Godrej along with his brother, Pirojsha Godrej in 1987. Pirojsha’s sons formed the second generation as Ardeshir died childless. The third generation consists of Adi, Nadir and Jamshyd.

A 122-year old Indian business family has hired bankers and lawyers to split the land of their fathers

New Delhi, Mar 27 () From Prime Minister Narendra Modi to rating agencies and economists, all welcomed the Reserve Bank of India's steps to reduce the cost of borrowing and infusing liquidity in the market in its war against the impact of coronavirus pandemic. Following are the comments made by key leaders, businessmen and economists:* Prime Minister Narendra Modi: Today RBI has taken giant steps to safeguard our economy from the impact of the Coronavirus. The announcements will improve liquidity, reduce the cost of funds, help middle class and businesses.* Finance Minister Nirmala Sitharaman: Appreciate RBI Governor Shaktikanta Das' reassuring words on financial stability. The 3-month moratorium on payments of term loan installments (EMI) and interest on working capital give much-desired relief. The slashed interest rate needs quick transmission.* Alka Anbarasu of Moody's Investors Service: "RBI's guidelines permitting banks and non-bank financial institutions to grant a 3-month moratorium on loan repayments will soften the negative credit impact that the coronavirus has had on their borrowers in the near term. However, there are still material downside risks to asset quality given the halt in India's economy, the impact of which will not be known until a few quarters after the end of the moratorium.* SBI Chairman Rajnish Kumar: The RBI policy announcements are bold, decisive, compelling and with a humane touch in attenuating to the needs of the economy to fight through the pandemic.The large rate cut, the adjustment in capital conservation buffer, the moratorium on repayments and the bazooka of conventional CRR cut and unconventional liquidity measure of incentivising banks to support CP market - all will help financial markets stabilise, lead to immediate rate transmission and address the credit needs of the real economy. Given that we are in exceptional times, RBI has played the role of championing the cause for the economy and financial system!* Cyril Shroff, Managing Partner, Cyril Amarchand Mangaldas: The RBI has unleashed a bazooka to deal with the economic pain and uncertainty prevailing. This provides a much-needed respite for borrowers and lenders in these trying circumstances and should soften the recovery period.* BJP president Jagat Prakash Nadda: RBI decision will help the middle class. I welcome these progressive and timely measures.* Oil Minister Dharmendra Pradhan: Moratorium on payment of interest on loans and working capital will provide much-needed relief to both people and businesses. * Raymond Ltd chairman and managing director Gautam Hari Singhania: The moves announced by RBI today are decisive and a comprehensive package to ensure the stability of financial markets making borrowing costs as low as possible with businesses around the country are closed and the economy is showing recessionary trends.The steps to ease working capital pain, reduced liquidity costs and providing moratorium on term loans will alleviate stress across various sectors.* Essar Ports CEO Rajiv Agarwal: Moratorium of 3 months for interest and principle payments along with a sharp cut in the CRR will ease the liquidity and help industry as well other segments of the economy. More steps might be needed once the Government comes out with the much-needed stimulus package to overcome the economic crisis arising from COVID-19.* Anshuman Magazine, CBRE: RBI is in a mission mode to nurture the market, preserve financial stability and the timing here is crucial. The decision to defer installments of all term loans by three months will provide the necessary support to homebuyers as well.* Arun Singh, Chief Economist, Dun and Bradstreet: Strong proactive measures have been taken by RBI to address the need of the country in times of heightened uncertainty. Such robust measures were unanticipated and would restore the confidence of the market, restrict foreign capital outflows, both in the debt and equity market, and will help in arresting depreciation of rupee.Mitigating debt servicing burden to prevent transmission of financial stress to the real economy was much needed as various countries globally have deferred loan payments from three to six months. However, banks might face difficulties meeting the capital adequacy norms which we expect will be further relaxed by the RBI during the short term.* Gayathri Parthasarathy, KPMG: It is a good decision and the time is right for RBI to intervene and announce these measures. The steps to ease working capital pain, reduce liquidity costs and provide a moratorium on term loans will alleviate stress across various sectors. Liquidity will definitely help the current situation and I strongly believe the rates could go down further by 50 to 75 basis points.* Sanjay Doshi, KPMG: Onus is now on the financial institutions to ensure better credit support to the corporate. However, given the challenging times, many corporates will have significant pressure on their income stream. Banks will have a tough job in deciding the allocation of credit.* Muthoot Pappachan Group Chairman Thomas John Muthoot: Various measures to nudge banks to lend and to inject liquidity into the system, will help in passing the benefit to the potential borrowers.* Radhika Rao, Economist, DBS Group Research: RBI pulled all the stops, delivering an aggressive rate cut. Its moves provide the right tailwind for the economy once the lockdown is complete. ANZBAL

PM, FM, industry welcome RBI 'bazooka' of interest rate cut, liquidity measures

Chinese eCommerce giant <keyword id="302749" type="COMPANY" weightage="20" keywordseo="Alibaba">Alibaba</keyword> is going to foray into India’s fast growing mobile commerce space. It will buy 25% stake in India’s One97 Communications, which is the parent company of mobile commerce firm <keyword id="6357120" type="UNKNOWN" weightage="20" keywordseo="PayTM">Paytm</keyword>. 
 
Ant Financial Services (AFS), part of the Alibaba Group, has announced a strategic agreement to acquire "a 25% stake in One97 to support the growth of mobile payment and commerce platform in India." 
 
Alibaba, largest eCommerce company in the world, had garnered a sum of $25 billion through initial public offering (IPO) in the US in September 2014. 
 
"Paytm will use the funds to grow its mobile payment ecosystem and further boost its commerce user base. The deal represents Ant Financial's first-ever investment into an Indian company," Alibaba added. 
 
"With over 1 billion people, India's payments market has vast untapped potential," said Cyril Han, vice president, Ant Financial Services. AFS will also provide strategic and technical assistance to Paytm. 
 Citi and <keyword id="6361649" type="CITY" weightage="20" keywordseo="Goldman-Sachs">Goldman Sachs</keyword> acted as the financial advisors on the deal. Simpson Thacher &amp; Bartlett, Trilegal and Amarchand &amp; Mangaldas and Suresh A Shroff &amp; Co were the legal advisors. 
 
AFS was set up in October last year, and it focuses on small and micro enterprises (SMEs) and consumers. It runs businesses like Alipay, Yu'e Bao, Zhao Cai Bao and Ant Credit and Alipay Wallet.

You Searched For "Cyril Shroff" and got 8 results

SEBI suppressed important facts and "slept over" DRI info on stock manipulation by Adani: Petitioner tells SC

PTI

India amends bankruptcy law to protect winning bidders from paying the price for sins of the previous promoter

PTI

Prabhas’ Saaho has a single 18 minute sequence that cost ₹65 crore

Preeti Soni

NSEL SCAM: This is how top lawyer Cyril Shroff wants to save small investors impacted by the NSEL scam

BI India Bureau

RBI steps to help mitigate impact of coronavirus lockdown on biz: Industry

PTI

A 122-year old Indian business family has hired bankers and lawyers to split the land of their fathers

Katya Naidu

PM, FM, industry welcome RBI 'bazooka' of interest rate cut, liquidity measures

PTI

Alibaba to debut in India’s mobile commerce space

BI India Bureau

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