Argus Partners

A leading law firm in India with offices in Mumbai, Delhi, Bengaluru and Kolkata.

[Argus Partners @Argus_Partners]

Argus Partners is pleased to have advised Tega Industries (NSE: TEGA/ BSE: 543413) on the formation of its JV with Apollo Global Management, Inc. (Apollo). The Tega-Apollo JV was set up to acquire the Molycop Group from American Industrial Partners (AIP) at an enterprise value of ~USD 1.5 billion. Argus Partners also advised the Tega-Apollo JV in connection with their acquisition of the Molycop Group.

The deal team at Argus Partners comprised Krishnava Dutt (Managing Partner), Armaan Patkar, Jaidrath Zaveri (Partners), Anish Kapoor (Senior Associate), and Kanishk G., Vishakha Somani (Associates). The deal team was supported by Aayush Kumar (Partner) and Srishti Solanki (Associate) on certain aspects of the transaction.

Anti-trust advice on the transaction was provided by Adity Chaudhury (Partner), along with Anika Sharma, Anoushka Mani, Suvanwesh Das (Associates).

Advice to Tega on matters relating to debt financing was provided by Aastha ., Aseem Dhawan (Partners), and Dharani Maddula, Khushi Doshi, and Mrunalini Vengurlekar (Associates).

Advice on employment and labour law aspects was provided by Arka Majumdar (Partner).

#DealAnnouncement #JointVenture #Acquisition #Mining #ArgusPartners

[Argus Partners @Argus_Partners]

We are pleased to share that Argus Partners successfully represented Assets Care & Reconstruction Enterprise Limited (“ACRE”) before the National Company Law Tribunal (NCLT), Kolkata, in a matter concerning the consolidation of Corporate Insolvency Resolution Processes (“CIRPs”).

In its ruling, the Tribunal held that consolidation of CIRPs is not permissible where the Committee of Creditors (CoC) has already rejected the proposal and where one of the CIRPs has progressed to an advanced stage.

The Argus Partners team representing ACRE comprised Soorjya Ganguli (Senior Partner), Pooja Chakrabarti (Partner), and Kirann Sharma (Principal Associate – Designate).

Read more at: https://t.co/O37J53JJne

#MatterAnnouncement #NCLT #Kolkata #ACRE #Disputes #CoC #ArgusPartners

[Argus Partners @Argus_Partners]

MeitY has notified the Promotion and Regulation of Online Gaming Rules, 2026, effective May 1, 2026, bringing India’s online gaming regulatory framework into operation. The Rules establish a dedicated regulator, introduce game classification and registration requirements, strengthen compliance and enforcement mechanisms, and impose enhanced user protection obligations on online gaming platforms.

Read more at: https://t.co/H2QOP75OAv

Contributed by Jitendra Soni (Partner) and Harsh Garg (Associate).

#QuickUpdate #Technology #Gaming #Rules #MeitY #Regulation #ArgusPartners

[Argus Partners @Argus_Partners]

Our teams gathered in Sri Lanka for Firm Offsite 2026 to reconnect across offices, exchange ideas, and build the relationships that shape the way we work together.

Moments like these reinforce what we value most — our people and our culture.

Here's to the road ahead, together.

#FirmOffsite2026 #SriLanka2026 #ArgusPartners

[Argus Partners @Argus_Partners]

We are pleased to share that Argus Partners successfully represented VEH Jayin Renewables Private Limited before the Central Electricity Regulatory Commission in a matter involving delay in submission of bank guarantees for additional generation under the GNA framework and consequent revocation of approval.

By Order dated 07 May 2026, CERC condoned the delay, subject to payment of nominal compensation, and directed restoration of connectivity approval along with expeditious processing of connection details.

This relief enables the project to proceed towards commissioning and mitigates adverse consequences arising from a procedural delay.

The Order underscores the CERC’s power to relax procedural timelines in appropriate cases and recognises that bona fide, cured delays, particularly where projects are at an advanced stage, should not result in disproportionate outcomes.

The Argus team consisted of Mazag Andrabi (Partner) and Rikit Shahi (Associate).

#MatterAnnouncement #Electricity #CERC #Renewables #GNAFramework #ArgusPartners

[Argus Partners @Argus_Partners]

We are pleased to announce that the Benchmark Litigation Asia Pacific 2026 Rankings has recognised our Firm and lawyers across cities and practice areas.

We are delighted to share that our Insolvency practice has been ranked Tier 1.

Our Government and Regulatory and White Collar Crime practices have been ranked Tier 2, while our Commercial and Transactions and Construction practices have been ranked Tier 3. Our Competition/Antitrust, International Arbitration, and Tax practices have also been recognised. Additionally, our Firm has been rated 'Highly Recommended' in Mumbai, New Delhi, and Bengaluru.

Our Senior Partners, R. Sudhinder, Ranjit Shetty and Soorjya Ganguli, and Partners, Pooja Chakrabarti, Namitha Mathews and Udit Mendiratta have been individually ranked for their expertise.

We are grateful to our clients for their continued trust in us, and remain committed to upholding the highest standards of service.

#benchmarklitigation #benchmarklitigationasiapacific #disputes #disputeresolution #litigation #arbitration #adr #ranking #recognition #award #lawfirm #india #asiapacific #arguspartners

[Argus Partners @Argus_Partners]

We are pleased to share that Argus Partners has successfully advised and represented the Resolution Professional of Riverbank Developers Private Limited (“RDPL”) before the National Company Law Tribunal, Kolkata.

The Tribunal while dismissing a plea by the homebuyers seeking an addition of 8% interest on the amounts paid by them to RDPL, held that, since homebuyers/ allottees and the developer have agreed to a different rate or mechanism of compensation, granting additional interest at 8% p.a. under CIRP Regulation 16A(7) would amount to double counting of the same interest component and result in unjust enrichment.
The team at Argus Partners advising and representing the Resolution Professional of RDPL consisted of Pooja Chakrabarti (Partner) and Kirann Sharma (Principal Associate – Designate).

Read more at: https://t.co/nQwN1j3imh

#MatterAnnouncement #Homebuyers #RealEstate #Disputes #CIRP #ArgusPartners

[Argus Partners @Argus_Partners]

We are pleased to share our latest article, ‘Sophie's Choice: The Entitlement of Dissenting Financial Creditors’, which examines the revised framework governing the protection of dissenting financial creditors under the Insolvency and Bankruptcy Code, 2016 (“IBC”).

The article traces the legislative and judicial trajectory of the rights of dissenting creditors under the IBC, from the Insolvency and Bankruptcy Code (Amendment), 2019, through the Supreme Court’s rulings in Essar Steel, Amit Metaliks and DBS Bank to the recently enacted Insolvency and Bankruptcy Code (Amendment), 2026 (“2026 Amendment”). In particular, it examines whether the 2026 Amendment’s introduction of the “lower of” test meaningfully resolves the legal position, or instead recasts the debate by narrowing the practical value of dissent, particularly for exclusive security holders.

Read more at: https://t.co/ageBpHUE76

Contributed by Aastha (Partner) and Aradhana Vaishnav (Associate).

#ThoughtPaper #IBC #InsolvencyandBankruptcy #FinancialCreditors #ArgusPartners

[Argus Partners @Argus_Partners]

FEMA NDI Amendment Rules Notified - Press Note 2 of 2026 Now Operational

On March 15, 2026, the Government of India issued Press Note No. 2 (2026 Series) in relation to investments from countries sharing land borders with India. Press Note 2 sought to amend Press Note No. 3 (2020 Series), in relation to investments from such countries. Any foreign investor with beneficial owners from these countries on their shareholding table may still invest through the automatic FDI route, provided that (a) such beneficial ownership does not exceed the applicable ownership thresholds prescribed under Rule 9(3) of the Prevention of Money Laundering (Maintenance of Records) Rules, 2005; (b) such beneficial ownership is not accompanied by the ability to exercise control over the investor through any other means, and (c) such beneficial ownership is not accompanied by the ability to exercise ultimate effective control over the investee entity in India in any manner.

Our recent Client Alert had explained the key changes introduced by Press Note 2, including the clarification on the manner of determining beneficial ownership. The Client Alert had also noted that the changes contemplated under Press Note 2 would take effect only upon the corresponding notification under the Foreign Exchange Management Act, 1999.

Link to the Client Alert - https://t.co/06f8iqKg6k

The Ministry of Finance, Department of Economic Affairs has now notified the Foreign Exchange Management (Non-debt Instruments) (Amendment) Rules, 2026 published in the Official Gazette on May 2, 2026. The notified amendments are broadly consistent with Press Note 2. The notified amendment rules also contain certain additional clarifications. Notably, they provide that a multilateral bank or fund of which India is a member will not be treated as an entity of any particular country, and no country will be treated as the beneficial owner of investments made by such bank or fund in India.

#QuickUpdate #FEMA #Corporate #PrivateEquity #VentureCapital #ArgusPartners

[Argus Partners @Argus_Partners]

We are pleased to share that Argus Partners has successfully represented Sunsure Solar Park OD Two Private Limited before the Appellate Tribunal for Electricity in a challenge to the revised banking framework introduced by the Maharashtra Electricity Regulatory Commission.

By interim order dated 27 April 2026, APTEL has stayed the operation of the revised mechanism, including bills raised thereunder and disconnection notices, while restraining coercive action against solar developers and open access consumers.

This relief is a significant step in preserving the viability of solar projects and ensuring regulatory certainty pending final adjudication.

The matter was argued by Senior Advocate, Sanjay Sen. The Argus team consisted of Mazag Andrabi (Partner), Shivkrit Rai (Principal Associate), and Rikit Shahi (Associate).

Read more at: https://t.co/36EmUog9qt

#MatterAnnouncement #Solar #APTEL #Regulatory #ArgusPartners

[Argus Partners @Argus_Partners]

Our Partner, Arka Majumdar, shared his insights with Mint on the Jaiprakash Associates insolvency case, which may redefine the contours of the "commercial wisdom" doctrine under India's insolvency framework.

He highlighted that any shift in processes and rules would likely be incremental, with lenders potentially being required to demonstrate greater transparency in their bid evaluation and document their reasoning when opting for a lower-value plan over a higher offer.

Arka noted, "Any change in the processes and rules would be gradual. Lenders may need to be more transparent about how they assess bids and record reasons when rejecting higher offers.

Read more at: https://t.co/QiUlxKuFRz

#ArgusPartners #Quotes #ThoughtLeadership #IBC #InsolvencyLaw #Mint

[Argus Partners @Argus_Partners]

Continuing with our series, “NCLAT Fortnightly,” in association with Bar and Bench, we present significant judgments and orders from the National Company Law Appellate Tribunal (NCLAT) on the Insolvency and Bankruptcy Code, 2016, for the period from February 1, 2026, to February 15, 2026.

Read more at: https://t.co/DiKyFwSWHe

Contributed by Arka Majumdar (Partner), Aakriti Garodia and Milind Anand (Associates).

#IBC #Insolvency #Bankruptcy #Orders #Judgements #BarandBench

#NCLAT #ArgusPartners

[Argus Partners @Argus_Partners]

On March 27, 2026, the Madras High Court dismissed Cognizant’s writ petition, upholding an order to reinstate a long-serving employee. The Court examined whether the termination complied with the Tamil Nadu Shops and Establishments Act, 1947, ultimately affirming employee protections and reinforcing the importance of lawful termination procedures under applicable labour laws.

Read more at: https://t.co/CDMjTUvtBt

Contributed by Tushar Thimmiah (Partner) and Amruth S Rao (Associate).

#QuickUpdate #MadrasHC #Employment #Disputes #Labour #Employee #ArgusPartners

[Argus Partners @Argus_Partners]

We are pleased to share that our Partner, Bhavya Mohan, will be moderating an Oxford-style debate on the motion “This House Believes That the Use of AI in International Arbitration Will Do More Harm Than Good” at the Singapore International Arbitration Centre (SIAC) Bengaluru Conference 2026 on April 24, 2026, at The Oberoi, Bengaluru.

#SIAC #InternationalArbitration #Arbitration #ArtificialIntelligence #LegalInnovation #ArgusPartners