Khaitan & Co. advised IPCA Laboratories Ltd in relation to obtaining FIPB approval for increase in aggregate limit of investment by SEBI registered FIIs and their sub-accounts in the equity share capital of IPCA Laboratories Limited under the Portfolio Investment Scheme, to up to 35% of the equity share capital for USD 143.5 million approximately. Firm provided legal advice, guidance, assistance, drafting and finalizing the FIPB application as also submitting various clarifications, representation and letters, fixing meetings and attending meeting with Joint Secretaries, Additional Secretary and Director and other concerned officials in different relevant departments from time to time and finally getting approval from the FIPB. Concerned Partner handling the transaction was Sharad Vaid.