UBS AG has absorbed the regulated entities of Credit Suisse AG in India - the CS AG Mumbai Branch, which was undertaking business as a bank branch and as a depository participant in India, and Credit Suisse Finance (India) Private Limited which is an NBFC registered with the RBI and therefore involved obtaining requisite approvals/licenses from the RBI, SEBI, and NSDL.
This absorption is being made pursuant to the overseas merger of Credit Suisse AG into UBS AG.
The General Corporate and Securities Regulatory Practice team of Cyril Amarchand Mangaldas advised UBS AG and Credit Suisse AG regarding regulatory requirements in India. The Firm acted as India's advisor in this overseas merger, which required obtaining coordinated approvals from regulators within strict timelines.
Cyril Shroff, Managing Partner, and Nivedita Rao, Senior Partner, guided the transaction.
The transaction team was led by Ramgovind Kuruppath, Partner; Gazal Rawal, Partner; and Rutu Gandhi, Partner; with support from Megha Krishnamurthi, Principal Associate; Pratiksha Arekar, Senior Associate; Surabhi Saboo, Senior Associate; Pruthvi Jasani, Associate; Suneha Kasal, Associate; Yash Mukadam, Associate.
Anand Sinha, Senior Advisor; and Lily Vadera, Senior Advisor; provided strategic inputs and guidance on RBI- related aspects.
Ranganayakulu Jagarlamudi, Senior Advisor; provided strategic inputs and guidance on SEBI-related aspects.
Manmohan Juneja, Senior Advisor; provided strategic inputs and guidance on MCA-related aspects.
Team led by Bishen Jeswant, Partner; with support from Krithika Radhakrishnan, Principal Associate; Himaa Sudhir, Senior Associate; assisted with employment law related advice.
Shreya Rajasekaran, Associate, and Chhavi Singh, Associate, also provided support on the transaction.
Freshfields Bruckhaus Deringer acted as global legal advisors for UBS Group AG.
If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.