Argus Partners

In Bharat Ajay Jaisinghani v. Asier Metals Private Limited, the NCLAT has set aside the admission of a Section 9 application against Polycab India Limited over alleged operational dues of approximately Rs. 2.78 crore. The contrast with Polycab’s reported net cash of over Rs. 4,000 crore raised questions about the use of insolvency proceedings to recover modest trade debts from financially strong companies. Significantly, the NCLAT did not decide the appeal on Polycab’s solvency. It set aside the admission because contemporaneous correspondence on credit notes, detention and demurrage charges and reconciliation of accounts established a genuine pre-existing dispute. The decision reaffirms a principle that cuts both ways: a vendor does not lose its statutory remedy merely because its customer is solvent, but the serious consequences of CIRP cannot be used to settle a disputed debt through the pressure of insolvency. Read more at: argus-p.com/updates/updates/… Contributed by Pooja Chakrabarti (Partner). #QuickUpdate #Insolvency #Section9 #NCLAT #Polycab #CIRP #IBC2016 #ArgusPartners

Our Senior Partner and Head – Japan & South Korea Desk, Saurav Kumar, shared his insights with Mint on the growing Japanese investments in India and the increasing opportunities for law firms arising from cross-border transactions between the two countries. Commenting on the evolving nature of India-Japan investment activity, Saurav highlighted the significant growth in transactions across green investments, critical manufacturing and new-age technology sectors. He further noted that these specialised transactions bring complex regulatory, legal and operational challenges, requiring a high degree of legal expertise to navigate effectively. Read more at: livemint.com/companies/news/… #ArgusPartners #Quote #Mint #IndiaJapanRelations #JapaneseInvestments #CrossBorderTransactions #MergersAndAcquisitions #ForeignDirectInvestment #CorporateLaw #ThoughtLeadership

Earlier this month, SEBI has relaxed the mandatory requirement for appointment of a merchant banker by certain eligible issuers undertaking private placements of debt securities or non-convertible redeemable preference shares with a face value of Rs. 10,000, subject to fulfilment of specified conditions. The circular, which came into effect immediately, amends paragraph 1.3 of Chapter V of the NCS Master Circular issued by SEBI on October 15, 2025. Read more at: argus-p.com/updates/updates/… Contributed by Aastha (Partner), Ekta Gupta and Sakshi Singh (Associates). #QuickUpdate #Finance #SEBI #Debt #PrivatePlacement #MerchantBanker #ArgusPartners

Argus Partners is pleased to announce that it has advised Scimplify, a Bengaluru-based speciality chemicals and advanced materials company, on its USD 25 million Series C funding round led by Hitachi Ventures, with participation from Accel, Bertelsmann Investments, 3one4 Capital, Omnivore, and other strategic investors, including Henkel and Teknor Apex. The fundraise will support Scimplify's expansion of its research and manufacturing capabilities, particularly in critical minerals, semiconductor chemicals and battery materials, while strengthening its presence in international markets and further developing its AI-powered platform, SciNode. The investment by Hitachi Ventures marks a significant milestone for Scimplify, strengthening its strategic ties with Japan and creating opportunities for deeper integration into the Japanese corporate procurement ecosystem and global speciality chemicals supply chains. The deal team at Argus Partners consisted of Ankit Guha and Vallishree Chandra (Partners), and Srishti Sneha and Amruth S Rao (Associates). Read more at: livemint.com/companies/start… #DealAnnouncement #PEVC #SeriesC #Fundraise #Chemicals #Manufacturing #Investment #ArgusPartners

Argus Partners is pleased to have advised CE-Invests, on its investment in TVS Automobile Solutions Private Limited (“TVS ASL”). CE-Invests is the UAE-based strategic investments platform of Crescent Enterprises, investing in mid-market growth companies and private equity funds. TVS ASL is India's largest independent automotive aftermarket player and owns the omnichannel brand myTVS. CE-Invests led the company's Series D fundraise of INR 425 crore (approximately USD 45 million). The investment Is a strategic move by CE-Invests to support myTVS’ next phase of profitable growth in India by extending its physical service network and further developing AI-enabled diagnostics, predictive maintenance and other digital capabilities. myTVS already connects more than 1,000 garages and 10,000 retailers, serving more than 10 million direct and indirect customers. Crescent Enterprises will also bring its regional networks and market expertise to support myTVS’ expansion into the UAE and wider MENA region. The investment reflects CE-Invests' strategy of backing established, well-governed mid-market businesses with a long-term investment horizon and forms part of Crescent Enterprises' AED 1 billion deployment programme across India, Southeast Asia and the GCC. The team at Argus Partners advising CE-Invests consisted of Abhinav Bhalaik, Vallishree Chandra (Partners) and Srishti Sneha (Associate). Read more at: business-standard.com/amp/ma… #DealAnnouncement #Automobile #Investment #SeriesD #Fundraise #PEVC #ArgusPartners

Krishnava Dutt recently shared his insights with Mint on boardroom governance and the role of independent directors as companies place greater emphasis on governance standards and board processes. Krishnava noted that differences between promoters and independent directors can arise over commercial decisions, and that effective governance depends not only on regulatory structures and safeguards but also on the culture set by an organisation’s leadership and board. Read more at: livemint.com/companies/news/… #ArgusPartners #Quote #Mint #CorporateGovernance #BoardGovernance #IndependentDirectors

Our Partner, Pooja Chakrabarti, shared her insights with Mint on the legal framework governing insolvency proceedings initiated by operational creditors and the broader implications of such proceedings for companies. Commenting on the issue in the context of recent developments, Pooja highlighted that insolvency proceedings may be initiated against financially sound companies even in relation to relatively small operational debts. Her observations bring attention to the importance of balancing creditors' rights with the broader objectives of the Insolvency and Bankruptcy Code (IBC). Read more at: livemint.com/companies/polyc… #ArgusPartners #Quote #Mint #Insolvency #IBC #InsolvencyLaw #CorporateInsolvency #DisputeResolution

Our Partner, Jitendra Soni, shared his insights with Mint on the restrictions against merchants passing on UPI Merchant Discount Rate (MDR) charges to customers and the regulatory framework governing their enforcement. Commenting on the applicability of NPCI’s guidelines, Jitendra noted that institutions facilitating UPI payments are responsible for ensuring that merchants do not impose additional charges on customers. He further explained that where payment aggregators are involved, the same restriction must extend to merchants, ensuring consumer protection even in cases where MDR is permitted. Read more at: livemint.com/industry/chipfl… #ArgusPartners #Quote #Mint #UPI #DigitalPayments #MDR #NPCI #ConsumerProtection #Banking

The Securities and Exchange Board of India (“SEBI”), at its board meeting on September 24, 2026, approved the SEBI (Portfolio Managers) Regulations, 2026, replacing the SEBI (Portfolio Managers) Regulations, 2020. The revised framework aims to support the growth of the portfolio management services industry, ease compliance, consolidate regulatory provisions, simplify language and remove redundant provisions. Read more at: argus-p.com/updates/updates/… Contributed by Armaan Patkar (Partner) and Aditi Maheshwari (Associate). #QuickUpdate #SEBI #Portfolio #PMS #Regulation #DPMS #AUM #ArgusPartners

We are pleased to share that Argus Partners has advised the Hightekers Group, the global work infrastructure group behind Rivermate, on the acquisition of 100% shareholding of Remunance Services Private Limited from its existing shareholders. Remunance is a well-established Employer of Record (EOR) and workforce solutions platform headquartered in Pune. The transaction marks a significant step in the Hightekers Group's global expansion strategy. The acquisition gives Hightekers its own established employing entity in India, one of the world’s largest hiring markets. Argus Partners advised Hightekers on all aspects of the transaction, including structuring, group’s entry into India as a first-time investor, and the transaction documentation. The Argus Partners transaction team advising the Hightekers Group consisted of Ankur Arora (Partner), Aishwarya Satpathy (Senior Associate), and Aakriti Garodia, Milind Anand, Samia Haider (Associates). Read more at: barandbench.com/law-firms/de… #ArgusPartners #Acquisition #Remunance #EOR #Growth #DealAnnouncement

We are pleased to share that our Partner, Abhinav Bhalaik, recently joined NDTV Profit’s The Big Question, in conversation with Vikram Oza, to discuss the Supreme Court’s observations on pharmaceutical marketing practices and the need for a legally enforceable regulatory framework governing inducements offered by pharmaceutical companies to medical professionals. Abhinav highlighted that the existing Uniform Code for Pharmaceutical Marketing Practices (UCPMP), 2024, is largely directive in nature and does not prescribe sufficiently enforceable consequences for non-compliance. He emphasized the need for a statutory framework that establishes clear accountability and penalties for violations, while noting that the existing code could serve as a useful foundation for such legislation. He also discussed the importance of transparency and disclosure in regulating interactions between pharmaceutical companies and healthcare professionals, emphasizing that disclosure requirements must be systematic, meaningful and supported by enforceable consequences to ensure effective compliance. Watch the full discussion: youtube.com/watch?v=polbvmHA… #ArgusPartners #TheBigQuestion #NDTVProfit #PharmaceuticalIndustry #PharmaRegulation #UCPMP2024 #HealthcareLaw #RegulatoryCompliance #LegalInsights

Principal-to-principal outsourcing arrangements are not determined by contractual labels alone. Their legal character depends on the substance of the relationship, including the degree of control exercised, the parties’ actual conduct, and applicable statutory requirements. Businesses must therefore assess whether operational oversight could create risks relating to sham contracting, agency, control over personnel, or independent statutory exposure. Contributed by Jitendra Soni (Partner) and Sadia Akhter (Senior Associate). Read more at: argus-p.com/updates/updates/… #QuickUpdate #Employment #Labour #OSHCode #Corporate #ArgusPartners

The Supreme Court of India has held that a trust is not a juristic person and cannot be arraigned as an accused in criminal proceedings. In Madasa Masih-UI-Uloom Educational and Charitable Trust v. State of Karnataka, the Court directed that proceedings against the appellant trust be discontinued, while clarifying that proceedings against the other accused would continue unaffected. Contributed by Nidhi Arya (Partner) and Akash Mukherjee (Associate). Read more at: argus-p.com/updates/updates/… #QuickUpdate #SupremeCourt #Disputes #Trust #SpecialCourt #ArgusPartners

As robotic systems increasingly learn from human-generated data, their training can raise significant data-protection considerations. Our latest article examines how different training methods engage India’s DPDP Act and the EU’s GDPR, and explores the additional regulatory implications arising under the EU AI Act and Machinery Regulation. Contributed by Jitendra Soni (Partner), Sadia Akhter (Senior Associate) and Aditya Kashyap (Associate). Read more at: argus-p.com/updates/updates/… #DataProtection #Robotics #ArtificialIntelligence #DPDPAct #GDPR #EUAIAct #TechnologyLaw #ArgusPartners

Argus Partners advised Popo Global Private Limited (“Popo Global”) and its founders, Nikhil Gupta and Abhijit Gupta, in connection with a ₹532 crore strategic investment from Invus Group (Artal Asia Pte. Ltd.). Popo Global is a Bengaluru-based multi-brand restaurant platform operating food and beverage brands including The Pizza Bakery, Paris Panini and Smash Guys. Founded in 2017 with a single The Pizza Bakery outlet, the company has largely grown through bootstrapped operations and currently operates approximately 40 outlets across its three brands. The transaction values Popo Global at ₹1,245 crore and marks the company’s first external institutional capital raise. The investment is expected to support Popo Global’s continued expansion and the scaling of its portfolio of food and beverage brands, providing a platform for further growth in India’s increasingly organised restaurant market. The deal team at Argus Partners consisted of Neha Madan (Partner), and Mishika Bedi (Associate). Read more at: barandbench.com/law-firms/de… #ArgusPartners #Restaurant #Investment #Food #Beverages #FNB #DealAnnouncement #ArgusPartners

The Department of Telecommunications has introduced a common verification mechanism through its Digital Intelligence Platform to strengthen enforcement of existing limits on mobile connections held by individual subscribers. The framework enables cross-operator identification of subscribers who have reached the prescribed limit and requires TSPs to prevent issuance of additional connections, with real-time verification to be integrated into the activation process by November 30, 2026. Contributed by Jitendra Soni (Partner) and Samia Haider (Associate). Read more at: argus-p.com/updates/updates/… #QuickUpdate #DoT #Telecommunications #DigitalIntelligencePlatform #TelecomCompliance #SubscriberVerification #TSP #ArgusPartners

Our Partners, Krishnava Dutt, Soorjya Ganguli and Abhinav Bhalaik, will be attending the IBA Annual Conference Copenhagen 2026, taking place from 4–9 October 2026 in Copenhagen, Denmark. The IBA Annual Conference brings together legal professionals from across the world for a week of discussions spanning key practice areas, emerging developments and issues shaping the global legal profession. We look forward to engaging with colleagues, clients and peers from across jurisdictions, and to meaningful conversations and exchanges throughout the conference. #IBA2026 #IBACopenhagen2026 #IBAAnnualConference #InternationalBarAssociation #GlobalLegalCommunity #ArgusPartners

The Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026 widen the Portfolio Investment Scheme to permit any individual person resident outside India to invest in listed Indian companies on a repatriation basis. The amendment also raises the individual investment limit to less than 10% and the aggregate limit to 24%, while prescribing revised consequences for breaches of the applicable investment limits. Read more at: argus-p.com/updates/updates/… Contributed by Armaan Patkar (Partner) and Aditi Maheshwari (Associate). #QuickUpdate #FEMA #PortfolioInvestment #PIS #ForeignInvestment #NDIRules #FDI #CapitalMarkets #ArgusPartners