Karam Daulet-Singh

Practice Areas

As the Managing Partner of the firm, 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.

Publications

m has authored several articles on key legal developments related to Corporate M&A in India.

AMC Sponsors – MF Regulations Come of Age (2023)

Green Energy in India – the Green Open Access Regime and Group Captive Structures (2023)

Analysing SEBI’s Recommendations on Grant of Special Rights to Unitholders and Role of Sponsors in InvITs and REITs (2023)

Analyzing SEBI’s Latest Move to Regulate Excuse and Exclusion Rights of AIF Investors (2023)

Aircraft Ground Handling in India (2023)

Buy Now Pay Later – The Story So Far (2022)

An Analysis of the Proposed Amendments to the (E-Commerce) Rules 2020 (2021)

Press Note 3 of 2020: A First Anniversary Edition (2021)

Renewable Energy in India – A Snapshot of Certain Key Issues Facing the Sector (2021)

FDI in Digital Media (2021)

White Collar Crime – Key Developments Under the Indian ABC and AML Regimes (2020)

Private Participation in Operation of Passenger Trains in India (2020)

Foreign Investment in Defence and Space (2020)

A Look at the Recent Developments in Competition Law in India (2020)

Foreign Direct Investment (2020)

An Overview of the Personal Data Protection Bill, 2019 (2020)

Foreign Direct Investment from China (Lexology, 22 July 2020)

Employees (Private Company Acquisitions) Q&A: India (2020) | Practical Law

Consideration and Acquisition Finance Q&A: India (2020) | Practical Law

Acquisition Structures Q&A: India (2020) | Practical Law

Pensions Issues in Cross-Border Acquisitions Q&A: India (2020) | Practical Law

Earn-out, Locked Box and Retention Q&A: India (2020) | Practical Law

Put and Call Option Q&A: India (2020) | Practical Law

Signing, Closing and Opinions Q&A: India (2020) | Practical Law

Key Trends in the Technology Sector in India: A Quick Snapshot (2019)

Ten Years of the Indian Antitrust Regime (2019)

Key Developments Under the Indian Insolvency Regime (2019)

Key Developments Under the Indian Leniency Regime (2018)

Key Developments Under the Indian Antitrust Regime – The Indian Antitrust Regulator Fines Google (2018).

Key Developments Under the Indian Insolvency Regime – Insolvency and Bankruptcy Code (2018)

Work Highlights

Advised Tencent and Meituan in connection with the sale of part of their shareholding in the IPO undertaken by Swiggy Limited.

Advised a leading GCC sovereign wealth fund in connection with its investment in Kotak Real Estate Investment Fund, an AIF managed by the Kotak group.

Advised EDF on the Indian aspects of its acquisition of parts of GE’s nuclear steam business.

Advised Kotak’s Strategic Situations India Fund II in connection with its structured financing arrangements to part finance Matrix’s purchase of Viatris’ API business in India.

Advised Air India on its proposed 50:50 joint venture with Airbus for a pilot training centre.

Advised Investcorp and State Bank of India on their proposed investment in Canpac Trends Private Limited.

Advised Tencent on the acquisition of the business of its portfolio entity operating the “Doubtnut” platform by Allen Career Institute.

Advised Tencent on the on-market sale of part of its shareholding in PB Fintech Limited (Policybazaar).

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.