Khaitan & Co advises Bandhan Financial Holdings on its proposed buyout of Aegon Life Insurance

Bandhan Financial Holdings Limited, the promoter of Bandhan Bank Limited, has proposed a buyout of the entire shareholding of Aegon India Holding B.V. and Bennett, Coleman & Company Limited in Aegon Life Insurance Company Limited.

Khaitan & Co acted as the legal counsel to Bandhan Financial Holdings Limited and advised it on the bid process for Aegon Life Insurance’s proposed buyout, review, negotiation and finalisation of the definitive agreements for the proposed buyout, and the applications to the IRDAI and the RBI for their approvals.

The core team was led by Sumit Chakraborty (Director) and Saswat Subasit (Partner) and comprised of Ravali Rayaprolu (Senior Associate) and Shivani Devpura (Senior Associate). The core team was assisted by the following:

Transaction documentation: Saranya Mishra (Senior Associate) and Rhiti Chattopadhyay (Associate).

Corporate and regulatory aspects: Dipen Chatterjee (Partner), Nikhil Jhunjhunwala (Partner), Paridhi Rasiwasia (Senior Associate), Saranya Mishra (Senior Associate), Akhil Wilson Thomas (Associate), Ketan Jain (Associate), Varsha Dudhwewala (Associate), Rhiti Chattopadhyay (Associate) and Keshav Tibarewalla (Associate).

Employment and labour law aspects: Abhinav Rastogi (Partner), Archika Dudhwewala (Senior Associate) and Ransher Singh (Associate).

Data Privacy aspects: Supratim Chakraborty (Partner), Sumantra Bose (Principal Associate) and Shramana Dwibedi (Associate).

Intellectual property aspects: Smriti Yadav (Partner) and Sunaina Brahma (Senior Associate).

Competition law aspects: Pranjal Prateek (Partner).

Real estate aspects: Susom Chattopadhyay (Associate) and Richaa Mukhopadhyay (Associate).

Bandhan Financial Holdings’ buyout of Aegon Life Insurance is subject to receipt of regulatory approvals from the IRDAI and the RBI, and upon completion, it will mark the Bandhan group’s entry into India’s life insurance sector in addition to its presence in banking and mutual fund sectors.

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