Khaitan & Co advised along with Debevoise & Plimpton, Canada-based Manulife in relation to its investment in a 50-50 greenfield life insurance joint venture in India with Mahindra & Mahindra Ltd subject to regulatory approval. Both JV partners have made a capital commitment to infuse a total of INR 7,200 crores (~ USD 800 million) in the insurance JV within first 10 years of its incorporation.
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The deal was led by Nikhil Narayanan (Partner) with assistance from Akhil Sharma (Partner), Shivam Tandon (Counsel), Shubham Chauhan (Senior Associate) and Ayush Gattani (Associate).