JSA represented the family office of Adar Poonawalla in its proposed acquisition of approximately ~20% stake in AstaGuru Auction House Private Limited (the “Company”), India’s premium auction house, promoted by Vickram Sethi, Tushar Sethi and Neelam Sethi. The investment marks a pivotal moment for the Company, paving the way for its expansion in local and global markets. The collaboration will drive growth across various verticals and categories, leveraging research-driven strategies and AI-powered digital enhancements to elevate user experiences.
Founded in 2008, the Company was established to create a safe and secure platform for online auctions featuring Modern Indian Art, Contemporary Act, and fine collectibles. The platform bridges the gap between buyers and consignors, enabling seamless participation through its real-time mobile app.
Our transaction team comprised Lead Partner & National Corporate Lead – Iqbal Khan, Partner – Devika Menon, Senior Associate – Tarini Sardesai, and Associates – Nidhi, Ayushi Choudhary, and Mallika Bhaskar.
Our tax team comprised Partner and Head of Practice, Direct Tax – Kumarmanglam Vijay, and Partners – Surajkumar Shetty, and Shareen Gupta.
Kumarmanglam is an equity partner of the firm and also heads the direct tax and regulatory practice at JSA. He has more than 25 years of experience in matters relating to direct taxation (including international taxation, transfer pricing, litigation, anti-avoidance laws, and M&A tax), accounting, and corporate laws including mergers and acquisition, joint ventures, foreign investments, market entry strategy, and corporate restructuring.
Shareen specializes in indirect tax laws including Goods and Services Tax, Customs Law and Foreign Trade Policy and erstwhile indirect tax laws such as Value Added Tax Laws, Service Tax, Excise duty. Shareen has 19 years of experience in providing advisory and litigation support services to large corporates as well as start-ups.
Surajkumar Shetty has extensive experience in advising clients on various aspects relating to direct taxation such as M&A transactions, devising appropriate risk mitigation and litigation strategies, restructuring businesses and business transfers, drafting and negotiating agreements from an income-tax standpoint, funds taxation, etc.