Dhruv Malhotra

Dhruv Malhotra, Associate, JSA

Dhruv regularly advises clients on transactional and advisory matters. His primary experience areas are mergers and acquisitions, private equity, and cross border investments.

Dhruv’s role includes advising clients on Indian foreign exchange control regulations, entry strategies, and structuring transactions. He has experience in advising on complex investment and acquisition structures, conducting legal due diligence on target companies operating in various sectors, and drafting and negotiating investment agreements. In addition to transactional work, he also regularly advices and represents clients on various aspects of Indian law (inter alia, general corporate compliance, governmental policies, and other areas of the firm’s corporate practice).

Prior to joining JSA, Dhruv was part of the team leading Trilegal’s Japan practice where he gained extensive experience in representing and advising Japanese conglomerates in their investments and operations in India.



Bar Council of Delhi



B.B.A. LL.B (Hons.), Gujarat National Law University



  • English
  • Hindi

Some of the key assignments in these areas handled and being handled by Dhruv amongst others, cover the following:

  • Akay group of companies and their promoter shareholders, in connection with the acquisition by Oterra (a portfolio company of EQT).
  • Grupo Bimbo:
    • in the acquisition of the shares held by the promoters of Kitty Industries.
    • in the acquisition of Modern Food Enterprises from Everstone.
  • International Flavors & Fragrances: on the India aspects of the transfer of its microbial control business to Lanxess.
  • DuPont on the India aspects of the transfer of the materials and mobility business to Celanese.
  • Acme Formulation, Immacule Lifesciences, and Acme Generics: (collectively, the Acme Group) and their promoter, Viral Shah: in connection with investment by PAGAC Ariane Pte. Ltd. and Asia Pragati Strategic Investment Fund in the Acme Group through acquisition of shares from existing shareholders, and subscription to compulsorily convertible preference shares.
  • StashFin in its Series C Fund Raise, which involved a combination of debt and equity funding from various investors.
  • State Bank of India: in its private equity investment in: (a) DarwinBox; and (b) Dozee.
  • Snapdeal: in (a) the acquisition of a significant minority stake by SoftBank in its subsidiary, UniCommerce; and (b) exit of Alibaba from Snapdeal.
  • Sabre Partners: in their investment in (a) Aviom India Housing Finance; and (b) Healthspring.
  • ClearTax in its acquisition of Xpedize Ventures Private Limited.
  • MaxLinear in the 100% acquisition of FrenusTech.
  • Oman India Joint Investment Fund in its primary investment in Shop Kirana.
  • Hidden Harbor Capital Partners: on the proposed acquisition of Dayco, LLC along with its Indian subsidiary – Dayco Power Transmission Private Limited.
  • IDEX: on the India leg of its acquisition of Muon.
  • ARRK Group: in relation to the India level aspects of the sale of securities of Shapers France to GIL Investments. The ARRK Group is part of the Mitsui keiretsu, and is engaged in the business of automotive engineering, prototyping and tooling.
  • SemaConnect in consolidation of India level entities as part of the fund raise from Trilantic North America.
  • Global Eagle in relation to the India law aspects of its global sale and restructuring process as part of its Chapter 11 bankruptcy proceedings.
  • MindTickle in its fund raise from Softbank.
  • MPS in its acquisition of Highwire Press.

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