AkilHirani, Managing Partner, and Rukshad Davar, Partner, Majmudar & Partners advised the administrators of MF Global Overseas Limited, in the sale of a majority stake in MF Global Sify Securities India Private Limited to Phillip Capital. In addition, they also advised the administrators of MF Global Overseas Limited on the sale of its Indian subsidiaries to Phillip Capital. Majmudar & Partners advised on the Indian securities regulatory framework governing, inter alia, securities broking, portfolio management, merchant banking, underwriting, etc., and on the rules, regulations and bye-laws of the stock exchanges. Further, the transaction also involved nuanced advice on complex corporate and tax law issues. They also assisted with drafting the term sheet, and vetted and finalized the entire transaction documentation.