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Cyril Amarchand Mangaldas acted as legal counsel to the Royal Bank of Scotland, which through a management buy-out, is selling its Private Wealth Management Business to Sanctum Private Wealth Management Limited for about 200 crore.
Sanctum Wealth, a firm led by Shiv Gupta and backed by a clutch of venture capital investors, will buy the wealth management business of RBS, taking control of the management of assets worth nearly Rs 12,000 crore, reports ET.
The Cyril Amarchand Mangaldas team was led by Mumbai based partners Vandana Shroff and Indranath Bishnu with partner Nisha Uberoi advised on competition law aspects whereas New Delhi based partner S. R. Patnaik advised on taxation matters.
Phoenix Legal acted for Sanctum Wealth with a team led by Partner Sawant Singh.