Deal Updates

We are delighted to share that Phoenix Legal acted as legal advisors to Iron Pillar Fund in connection with Series B2 fund raise of Naffa Innovations Private Limited (ToneTag).

ToneTag is a sound based proximity communication provider that enables contactless proximity communication, location based services and customer engagement services among a multitude of other solutions. The round was led by Value Quest and Iron Pillar Fund co-invested in this round.

ToneTag plans to utilise the investment to scale operations, enhance research and development efforts, support recruitment, and drive marketing initiatives. Additionally, it aims to accelerate expansion into new markets across Asia, South America, and the Middle East.

The transaction for Phoenix Legal was led by Sumit Sinha (Partner) along with Ashima Dewan (Partner) and assisted by Sukanya Bhattacharya (Principal Associate) and Jyoti Vats Mishra (Associate).

• The Karnataka High Court on 13.02.2025 in a record time quashed an FIR against the Editor-in-Chief of Republic Media Network, Mr. Arnab Goswami in relation to criminal proceedings instituted against him in Bengaluru. We are delighted to share that Phoenix Legal led by our Partner, Zoeb Cutlerywala successfully represented Mr. Goswami in the said matter.

This is one of the landmark cases where the Court has come to the rescue and protected the liberty and fundamental right of a citizen of India from being abused by the State and quashed the FIR in flat 2 hearings.

• Our litigation team successfully represented our client, a multinational company, in a writ petition filed before the Himachal Pradesh High Court by an unsuccessful bidder, which sought a stay against proceeding with the tender for the installation of advanced medical equipment in certain hospitals in Himachal Pradesh and for its award to our client.

The Petitioner challenged his disqualification as a bidder on the ground of not meeting the technical specifications of the tender as being arbitrary and suffering from bias.

We submitted that in a writ petition involving a tender matter:
(a) the court cannot substitute its own opinion for the decision of the technical experts; and
(b) the court can only examine the process for the award of tender and not the merits of the decision of the tendering authority.

After hearing us and all parties concerned at length, the Court was pleased to dismiss the application for stay filed by the Petitioner.

The team comprised of Abhishek Saxena, Co-founding Partner, Pranav Srivastava, Partner, Zoeb Cutlerywala, Partner and Rahul Tyagi, Principal Associate.

• Our litigation team successfully represented the employee of an Indian company, as well as employees of a philanthropic organisation, in a quashing petition before the Hon’ble Patna High Court challenging criminal proceedings initiated against them under the Indian Forest Act, 1927, and the Wildlife Protection Act, 1972, while conducting field visit for CSR activities. The petition challenged the complaint, chargesheet, and the trial court’s order taking cognizance of the offences under the aforesaid Acts. It was submitted before the Hon’ble High Court that the complaint or the chargesheet failed to prima facie disclose the alleged offences and were instead based on conjectures and surmises. Highlighting critical gaps in the investigation as well as the case set up by the forest department, our team was successful in securing a stay on the proceedings before the trial court.The team comprised of Abhishek Saxena, Partner, Aman Avinav, Partner, Kumar Rishabh Parth, Associate, Anwita Bhattacharyya, Associate.

• We are delighted to share that Phoenix Legal acted as legal advisors to Elevation Capital in connection with their participation in the USD 5.5 million Series A funding round of Maestroedge Solutions Private Limited (Snabbit), a quick service app providing on-demand home services. The round was led by Elevation Capital with participation from Nexus Ventures, an existing investor of Maestroedge Solutions Private Limited (Snabbit).The transaction for Phoenix Legal was led by Sumit Sinha (Partner), Ashima Dewan (Partner) and was assisted by Srishti Sharma (Associate), Vishesh Minocha (Associate) and Devika Rana (Associate).

• We are delighted to share that Phoenix Legal acted as legal advisors to HARSORIA HEALTHCARE PVT. LTD. (a leading medical devices company with market leadership in the vascular access space) and its promoters in connection with USD 20 million investment in Harsoria Healthcare Private Limited with the lead investment by TATA Capital Healthcare Fund II (the healthcare focused private equity fund of Tata Capital Ltd) along with marquee investors, including Utpal Sheth, Ashish Kacholia and associates, and the LNB Group as co-investors.

Harsoria Healthcare plans to utilize the investment to expand its manufacturing capacities, enhance R&D efforts, and drive business development.

The transaction for Phoenix Legal was led by Rahul Deodhar (Partner) and was assisted by Vaibhav Asher (Senior Associate) and Alivya Sahay (Associate).

• We are delighted to share that Phoenix Legal acted as legal advisors to Lightspeed India Partners and Elevation Capital in connection with their participation in the USD 8 million Series A funding round of Keyaro Edutech Private Limited (Seekho). The round was led by Lightspeed India Partners, with participation from Elevation Capital, an existing investor of Seekho.

The transaction was led by Sumit Sinha (Partner) along with Ashima Dewan (Partner) and were assisted by Sukanya Bhattacharya (Principal Associate), Vaibhav Asher (Senior Associate) and Srishti Sharma (Associate).

The transaction team was further assisted by Vishesh Minocha (Associate) and Esha Dinesh (Associate) in relation to the legal due diligence on Seekho.