BOUTIQUE FIRMS
GQG Partners' investments in Adani stocks surge 172% to $11.6 billion
The US-based investment firm saw its investment in six Adani group stocks nearly triple in value, from ₹38,500 crore ($4.6 billion) to ₹96,431 crore ($11.62 billion) within a span of roughly seven months. This remarkable 150% increase highlights the investor's confidence in the Adani group and the potential growth of the Indian market.
Capital markets and dispute resolution will keep law firms busy in coming years: Harry Chawla, Luthra and Luthra Law Offices
Technology integration drives legal sector growth, with rising demand for regulations, advisory services, and increased M&A activity. Focus on AI, blockchain, data privacy, cybersecurity, and geographical expansion to enhance client service and efficiency.
Big 4's dominance: Local companies call for level playing field
Indian auditing firms are pushing for fair competition with multinational counterparts, expressing concerns over the Big Four's increasing dominance and alleged manipulation of regulatory loopholes. The Institute of Chartered Accountants of India (ICAI) recently investigated affiliates of EY, Deloitte, PwC, and KPMG, where the firms were able to obtain court stays against disciplinary actions by the ICAI disciplinary committee after years of scrutiny, according to local rivals.
Boutique properties boom: HNIs showing great interest in exclusive properties for celebrations
According to travel industry experts and property owners, there is a growing demand for bulk bookings of entire boutique properties costing Rs 3 lakh per night to as much as Rs 10 lakh. Some are even using private charters for group travels. These bespoke holidays are either for exclusive reunions, celebrations or simply to enjoy leisurely getaways during long weekends, fuelling a trend of luxurious seclusion.
Long weekend business booming for hotels, cruises, travel firms
Indians are leveraging every opportunity to take a “minication”, said Rajeev Kale, president and country head for holidays, MICE and Visa at Thomas Cook (India). The company’s data reflects a 25%-30% year-on-year surge for long weekend breaks across both domestic and outbound destinations, he said.
What GQG Partners, the firm that fishes in troubled waters, sees in Vedanta
Following reports that US-based GQG Partners, founded by Rajiv Jain, is in talks to buy a stake in Vedanta, a big block deal was reported on Thursday in which more than 2% equity changed hands worth over Rs 2,600 crore.
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Promotions boost gender diversity: More women get partner roles now
In a trend catching up fast, India's top law firms are playing fair in gender diversity and promoting an increasing number of high-potential women lawyers to partner level and are going extra mile to retain them, industry insiders said.
Legally binding: Lawyers start courting cases on their own
Specialised tribunals such as the National Green Tribunal, Debt Recovery Tribunal, Income Tax Appellate Tribunal, Telecom Disputes Settlement and Appellate Tribunal and the Appellate Tribunal for Electricity are some of the niche litigation areas for lawyers.
Tanishq opens boutique in Singapore, plans 50 stores globally
Tanishq, a jewelry brand from the Tata Group, has plans to establish 50 boutiques worldwide in the long term. Currently, the brand has 13 boutiques in international markets and is actively seeking new locations to serve the global Indian diaspora. The company intends to open boutiques in the United Kingdom, Australia, and Malaysia.
Ashish Pyasi of Dhir & Dhir Associates launches dispute resolution firm Aendri Legal
An alumnus of Government Law College, Mumbai (2008), and a member of the Indian Institute of Company Secretaries of India (ICSI), Pyasi started his career with the law firm Kartikeya & Associates in 2008, in the firm’s litigation team. Subsequently, he joined firms including Universal Legal and Krishnamurthy & Co. (K Law). In 2015, he joined the Delhi-headquartered firm Dhir & Dhir Associates’ Mumbai office.
General Atlantic to acquire minority stake in travel-tech platform TBO
For the deal, General Atlantic entered into an agreement with entities held by Affirma Capital. Subsequent to this transaction, Affirma Capital will continue to remain invested in TBO, the company said in a statement.
Big accounting firms may not get to value IDBI bank assets
The decision to appoint an asset valuer for IDBI Bank has caused concern among the big four accounting firms. The government's department of investment and public asset management has set out qualification criteria stating that only valuers registered with the Insolvency and Bankruptcy Board of India are eligible to apply.
Adani hikes stake in flagship firm Adani Enterprises Ltd
Adani stocks have since recovered some of the losses. GQG has so far invested Rs 38,700 crore in Adani Group firms. Qatar Investment Authority (QIA) has invested Rs 4,100 crore in Adani Green Energy and Bain Capital has poured in Rs 1,440 crore, helping re-build investor confidence.
Deloitte sought independent external probe into Hindenburg allegations; Adani firm says reasons for resignation not convincing
In the August 12 resignation letter, Deloitte said it was resigning as auditor of APSEZ with immediate effect "because we are not statutory auditors of a substantial number of other Adani Group of companies." It went on to state that it had given a qualified opinion in audit of financial statements for quarters ended March 2023 and June 2023.
Abu Dhabi's ADNOC, AI firm G42 plan IPO of technology joint venture AIQ
Shares of artificial intelligence firms have helped lead an equity rally in the U.S. market this year after U.S. firm OpenAI, the owner of ChatGPT, a chatbot that gives strikingly human-like responses to user queries, snagged a multi-billion dollar investment from Microsoft Corp.
Bharti Family Office firm to bring US-based food chain PF Chang's to India
Gourmet Investments currently operates about 16 restaurants of Pizza Express, Chili's and Ministry of Crab and is in talks with prominent malls for a space for PF Chang's. More than a dozen international F&B brands, including Pret A Manger, Tim Hortons and Popeyes, have entered India over the last few months.
Credit Suisse markets CSFB as 'super boutique', sees revenue rebound
The marketing presentation, which has not been previously reported, shows the Swiss bank is betting on an aggressive rebound at CS First Boston (CSFB) after revenue plunged 69% in 2022
KKR seeks advisers to sell stake in Avendus Capital
KKR is close to appointing two banks to manage the formal process for the transaction, the people said, asking not to be named as the information is not public. Other investors in the Mumbai-based firm might also join the private equity titan in the deal, taking the stake for sale to about 80% of the company, they said, without providing specific details.
Law firms K Singhania & Co and Capstone Legal ink strategic partnership pact
Under this partnership, Krrishan Singhania, managing partner of K. Singhania & Co will join Capstone Legal as an Of-Counsel while both managing partners of Capstone Legal - Ashish Kumar Singh and Vagish Kumar Singh will be joining K Singhania & Co. as Of-Counsel to serve each other's clients in the respective jurisdictions.
Kimtani leads the way for sustainable businesses in realty development
Kimtani is the brainchild of global entrepreneur and businessman Ashish Kimtani.
A Warren Buffett protegee strikes out on her own
Today, Britt Cool, 37, is parlaying her nearly unparalleled access to the mind and methods of one of the world’s most renowned investors to build her own investment firm, Kanbrick.
Benguluru-based boutique law firm’s realty, litigation team joins IndusLaw
During the fiscal year March 2021, the combined legal cost of all the companies was about Rs 36,973.75 crore, a marginal decline of 1.67% compared to a year ago period due to pandemic and subsequent lockdown. However, this is expected to improve now due to growing business activities such as M&A, fund-raising, IPOs as well as litigation and dispute resolution
Boutique realtor Inaya Living buys SoBo bungalow Laburnum House for Rs 93 crore
The development company has bought the property through its parent Chandler & Price (India) that has paid stamp duty worth Rs 4.65 crore for the registration of the transaction.
Wall St boutique PJT Partners joins Indian M&A sweepstakes with PayU-BillDesk deal
The six-year-old firm had roped in former Citi India CEO Pramit Jhaveri as senior advisor to help grow base.
ITC foraying into boutique brands; should you buy it?
“ITC may fit the bill for only those investors who are happy with the dividend yield and less volatility. Otherwise we are not too excited.”
ITC to foray into boutique lifestyle hotel segment with new brand
The conglomerate is also diversifying its flagship tobacco business into manufacturing of nicotine and nicotine salts primarily for export to the US and European Union markets.
Three Khaitan legal associate partners start boutique firm Consortia Legal
“As the world embraces a different ‘normal’ with a fundamental shift in all sectors including professional services like law, we thought it was also the time to pursue a different venture,” said Satyendra Shrivastava, senior partner of Consortia Legal.
PayTM Money says many discount brokers will become boutique firms
PayTM Money forayed into the stock broking space at a time when a record number of first-time investors flocked to the market.
Insolvency halt gives a rude jolt to boutique IRPs
Several IRPs and lawyers are of the view that boutique firms largely dependent on operational creditors and small businesses will face a double whammy – along with the suspension of fresh cases for a year, the threshold for defaults has been increased to 1 crore from 1 lakh earlier.
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