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INTERIM BAIL GRANTED TO UNITECH PROMOTER SANJAY CHANDRA

Promoter and former Managing Director of Unitech Ltd., Sanjay Chandra, who has been in jail for approximately 3 years, was granted interim bail on 7th of July, 2020 by Supreme Court. Accepting his plea for bail on account of both his parents being COVID-19 positive, the Bench comprising of Justices DY Chandrachud and MR Shah allowed him to be released for a period of one month. However, the Court refused to grant any such relief to Chandra’s younger brother, Ajay Chandra, who is also in jail in relation to the ongoing case involving siphoning off money paid by home buyers.

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.