Lalit Kumar

Lalit Kumar, Partner, JSA

Lalit is a Corporate, M&A and Private Equity lawyer with over twenty years of experience. He has substantial transactional experience in advising both Indian and foreign entities in several complicated domestic and international corporate commercial transactions including private and public M&A, private equity (acted both as investor’s and company’s counsel), joint ventures, complex corporate restructuring including mergers, demergers, business sale, buyouts, foreign direct investment (FDI), offshore investment (ODI) and corporate and securities laws advisory.

 

Memberships

  • Bar Council of Uttar Pradesh
  • Associate Member of ICSI

 

Publications

  • Various legal journals
  • Various leading financial newspapers

 

Education

  • LLB, University of Lucknow
  • B.Com, University of Allahabad
  • CS, ICSI, New Delhi
  • CWA (Inter), CWAI, New Delhi

 

Languages

  • English
  • Hindi

Some of the recent notable deals are:

  • He led the team and represented Indiabulls Real Estate Limited (IBREL) in its 100% exit from all commercial assets in a very large and complex transaction involving sale of these assets to Blackstone. This was the largest private equity deal in real estate space in 2018.
  • Acted for IBREL in the proposed merger of Embassy Group entities with IBREL. Upon completion of this transaction, the promoters of Embassy Group will become the new promoters of IBREL and the existing promoters of IBREL will be declassified as the promoter of IBREL.
  • Acted for UPL Limited, a very large Indian listed company in its acquisition for USD 4.2 billion of Arysta Lifesciences, US. This deal is notable because it was the fifth largest ODI ever from India.
  • Acted for UPL Limited for its large merger with Advanta Limited.
  • Working with UPL group for structuring its e-commerce platforms.
  • Acted for Microsoft Corporation in its various investment transactions that include the following:
    • acquisition of minority stake in Robotic Wares Private Limited for $10 million.
    • Series H investment for $10 million in Dailyhunt’s parent company called Ver Se Innovation Private Limited.
  • Acted for OFB Tech Private Limited (OfBusiness), a unicorn company in India, in its fund raising for Series D investment round of INR 240 crores.
  • Acted for Creation Investments India III, LLC (Creation), a majority shareholder in Vivriti Capital Private Limited (Vivriti), in an investment received from Lightstone Fund S.A. of Rs. 350 crores, by way of subscription to securities issued by Vivriti in the Series B round.
  • Had also acted for Creation in the Series A and Series A2 round in Vivriti in 2018 and 2019, post which Creation held 75.45% shareholding in Vivriti.
  • Acted for ViacomCBS Inc in its various investment transactions that include the following:
    • as Indian counsel to the divesture of entire stake by ViacomCBS in Simon & Schuster to Penguin Random House LLC. The deal size was USD 2.175 billion.
    • sale of its 1% stake in its Indian joint venture company, Viacom 18 Media Private Limited, to its joint venture partner TV18 Broadcast Limited (TV18) for a consideration of USD 20 million.
  • Acted for Fidelity Management Research in relation to its $125 Million investment in Delhivery, India’s leading logistic and supply chain company.
  • Advised SGS Tekniks and its promoters in cash cum stock merger with Syrma. Private Equity fund GEF has also invested in Syrma.
  • Advised Religare Enterprises in its internal restructuring of merger of several subsidiary with Religare.
  • Advised RGAM Investment Advisors Private Limited (RGAM), a wholly owned subsidiary of Religare Enterprises Limited, for the divestment of its 100% stake in its wholly-owned subsidiary, Cerestra Advisors Ltd. (CAL), to TCP Cerestra Limited.
  • Acted for InterGlobe Enterprises in its shareholders’ dispute with the Rakesh Gangwal group in InterGlobe Aviation Limited (IndiGo).
  • Acted for Mitsubishi Corporation for expanding operations in India by setting up a new project.
  • Advised Menzies Aviation for its joint venture with GMR for designing, financing, constructing, operating and maintaining a Greenfield international airport in Hyderabad.
  • Was part of the team advising a Korean steel major POSCO in setting up a green field steel project and related infrastructure in India involving the largest FDI in the country.
  • Represents JUSDA, the logistic and supply chain arm of Foxconn in India.
  • Represents Eicher Motors, a leading company in its space, for their various assignments.
  • Was part of the team which advised an engineering and construction major, Punj Lloyd acting through its wholly owned subsidiary in Singapore in acquiring 88% stake in Semcorp, a leading utilities and marine group in Asia based out of Singapore.
  • Was a part of the team advising Wal-Mart, world’s leading retail chain shops for setting up joint venture operations in India.
  • Acted for Oracle for merger of their group companies in India.
  • Advised on a twofold transaction, first, the acquisition of 85% stake by a US major telecom company in an Indian company engaged in telecom business by conversion of the said US company’s outstanding loan to the Indian company into equity shares and thereafter post such acquisition, the shares so acquired by the US major telecom company were disinvested by it to a leading Indian telecom company.
  • Led the team on the acquisition of shares of a ship building company by a leading Indian listed company engaged in engineering and construction business.
  • Executed a scheme of amalgamation of group companies of one of world’s largest software companies. The scope of work included drafting of the scheme, seeking approvals of High Court and other statutory authorities and overall execution of the restructuring.
  • Successfully executed a transaction of private equity investment made by the investment division of World Bank in a leading Indian listed company. Acted for the investee company. The scope of work included negotiations, preparation and review of the shareholders agreement, share subscription agreement and other transactional documents.
  • Executed the initial public offering of one of India’s leading engineering and construction companies and the issue of foreign currency convertible bonds of US$ 125 million by the same company.

 

He frequently writes columns on legal and current issues in various financial newspapers of India including the Economic Times and the Financial Express. He is frequently quoted in various news articles in leading financial dailies. He is invited to speak at various conferences and seminars organized by professional institutions, industry chambers and law colleges.

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