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Ranked in Band 1, Chambers & Partners, Corporate & M&A (Global) 2018, 2019, 2020, 2021, 2022 and 2023.

Karam Daulet-Singh

Managing Partner

As the managing partner of the firm operating from Mumbai, Karam is responsible for the firm’s overall business strategy, client experience and culture. A dual-qualified lawyer, qualified to practice both in England and India, Karam worked with Freshfields Bruckhaus Deringer in London in the late 1990s. On returning to India, he worked with an established Indian law firm, before setting up his individual practice in 2002, which has now evolved into the firm as currently constituted.

Karam extensively advises several financial institutions and multinational corporations in connection with their India strategies and has worked on some of the largest cross-border transactions in the Indian market in the last 20 years. Karam’s clients include a leading GCC sovereign wealth fund, BP, Tencent, Wellington, and the world’s leading media and communications group.

Select Corporate & M&A Experience:

  • Advised Tencent on the on-market sale of shares of PB Fintech Limited (Policy Bazaar).
  • Advised a leading GCC sovereign wealth fund in connection with its USD 500 million investment in data centre focused Kotak’s Data Centre Fund (IFSC), an AIF set up by the Kotak group in GIFT city.
  • Advised a leading GCC sovereign wealth fund in connection with its USD 600 million investment in Kotak’s Strategic Situations Fund II (IFSC), an AIF set up by the Kotak group in GIFT city.
  • Advised a leading GCC sovereign wealth in connection with its USD 500 million investment in residential real estate focused Kotak’s Real Estate Fund (IFSC) in GIFT city.
  • Advised Investcorp in connection to its proposed USD 30 million investment in the Global Dental Services Limited group as part of its Series D round of financing of approx. USD 65 million, led by Investcorp. The Global Dental Services group operates a chain of dental clinics under ‘Clove Dental.’
  • Advised a leading GCC sovereign wealth fund on its USD 500 million investment in Kotak India’s Commercial Real Estate Fund (IFSC) in GIFT city.
  • Advised a leading GCC Sovereign Wealth Fund on its acquisition of a 10% stake in HDFC Capital Advisors Limited from HDFC Limited.
  • Advised a leading GCC sovereign wealth fund in relation to its USD 1.2 billion investment in HDFC’s third low cost housing fund, the HDFC Capital Affordable Real Estate Fund-3 (H-CARE-3).
  • Advised Tencent on its investment in Cars24, one of India’s leading online transaction platforms for pre-owned vehicles.
  • Advised a leading GCC sovereign wealth fund with its pre IPO placement into MobiKwik.
  • Advised a leading GCC sovereign wealth fund in the first major overseas listing of an Indian company, ReNew Power, via the SPAC route, involving an enterprise value of US$8 billion.
  • Advised Huntsman on the sale of its India Based DIY Consumer Adhesives Business to Pidilite Industries for USD 285 million.
  • Advised BP on its investment of USD 1 billion in a fuels and mobility joint venture with Reliance Industries.
  • Advised a leading GCC sovereign wealth fund on its acquisition of a minority stake in ReNew Power, a leading renewable energy platform in India.
  • Advised a leading GCC sovereign wealth fund on its acquisition of a minority stake in Greenko Energy, a leading renewable energy platform in India.
  • Advised a leading GCC sovereign wealth fund on its acquisition of a minority stake in Cube Highways and Infrastructure Pte. Ltd.
  • Advised Tencent on its USD 700 million investment in Flipkart, one of India’s leading e-commerce marketplaces.
  • Advised Tencent on its USD 400 million investment in Ola, one of India’s leading cab aggregators.
  • Advised Novartis AG on the Indian legal and regulatory aspects in connection with the acquisition / sale of various businesses and a consumer health joint venture with GSK.
  • Advised Novartis AG on the Indian legal and regulatory aspects in connection with the sale of its animal health business to Eli Lilly.
  • Advised Swiss Re on its health insurance joint venture with Larsen & Toubro.
  • Advised Airbus Group S.A.S. on its joint venture with Larsen & Toubro in the defence electronics business.

Education

  • Magdalene College, University of Cambridge (MA LLB, First Class), 1995

Professional Qualifications

  • Solicitor, England and Wales, 1999
  • Admitted to the Bar Council of Maharashtra and Goa, 2001

Recognitions

  • Ranked in Band 1, Chambers & Partners, Corporate & M&A (Global) 2018, 2019, 2020, 2021, 2022 and 2023.
    “Karam Daulet-Singh in Mumbai is qualified to practise in both India and the UK. He is heavily focused on advising international companies on their India-based operations and highly valued for his broad experience, which includes cross-border acquisitions and joint ventures. “Karam Daulet-Singh is top notch.”“
  • “Top 100 lawyers,” India Business Law Journal, 2019, 2020, 2021, and 2022
  • “Distinguished Practitioner,” Corporate M&A, Asialaw, 2022 and 2023
  • “Notable Practitioner.” Corporate M&A, IFLR1000, 2021 and 2022

Publications

‘Foreign Direct Investment from China’ (Lexology, 22 July 2020
(https://www.lexology.com/library/detail.aspx?g=7de2b1a5-1d0d-4fd3-882b-4e3655166751)

‘Corporate M&A – India Law and Practice’ | Chambers Global Practice Guide (2nd edition -2019)

‘Shareholders’ Rights & Shareholder Activism India Law and Practice’ | Chambers Global Practice Guide (2020)
(https://practiceguides.chambers.com/practice-guides/comparison/509/5821/9035-9052-9060)

‘Shareholders’ Rights & Shareholder Activism India Trends and Developments’ | Chambers Global Practice Guide (2020)
(https://practiceguides.chambers.com/practice-guides/shareholders-rights-shareholder-activism-2020/india/trends-and-developments/O6836)

‘Energy: Oil & Gas – India Law and Practice’ | Chambers Global Practice Guide (2019)

‘Employees Q&A: India’ (2020) | Practical Law
(https://uk.practicallaw.thomsonreuters.com/8-620-9103)

‘Consideration and acquisition finance Q&A: India’ (2020) | Practical Law
(https://uk.practicallaw.thomsonreuters.com/8-625-9032)

‘Acquisition structures Q&A: India’ (2020) | Practical Law
(https://uk.practicallaw.thomsonreuters.com/1-627-9335)

‘Preliminary agreements Q&A: India’ (2020) | Practical Law
(https://uk.practicallaw.thomsonreuters.com/9-628-1645)

‘Pensions issues in cross-border acquisitions Q&A: India’ (2020) | Practical Law
https://ca.practicallaw.thomsonreuters.com/w-007-0435?transitionType=Default&contextData=(sc.Default)&firstPage=true

‘Asset acquisition documents Q&A: India’ (2020) | Practical Law
(https://uk.practicallaw.thomsonreuters.com/W-018-9403)

‘Earn-out, locked box and retention Q&A: India’ (2020) | Practical Law
(https://uk.practicallaw.thomsonreuters.com/W-007-8952)

‘Put and call option Q&A: India’ (2020) | Practical Law
(https://uk.practicallaw.thomsonreuters.com/W-007-2873)

‘Signing, closing and opinions Q&A: India’ (2020PracticalLaw
https://ca.practicallaw.thomsonreuters.com/Document/I6eaa3407950911e598dc8b09b4f043e0/View/FullText.html?originationContext=docHeader&contextData=(sc.Default)&transitionType=Document&needToInjectTerms=False&firstPage=true

‘Share acquisition documents Q&A: India’ (2020) | Practical Law
(https://uk.practicallaw.thomsonreuters.com/1-621-7998)