HSA Advocates Advised Transaction Solutions On Its Acquisition Of 100% Share Capital Of Tata Communications Payment Solutions

HSA Advocates advised Transaction Solutions International (India) Pvt Ltd (TSIL), a subsidiary of Findi Limited (ASX: FND), on its acquisition of 100% share capital of Tata Communications Payment Solutions Limited (TCPSL), a wholly owned subsidiary of Tata Communications Limited.

This multifaceted transaction involved legal due diligence, advising on transaction structures, navigating complex regulatory aspects, and finalizing definitive agreements. The acquisition represents a strategic milestone for TSIL as it seeks to expand its footprint in India and enhance financial inclusion.

The target entity is a white label ATM operator or a non bank payment system operator (PSO) which is an activity regulated by Reserve Bank of India (RBI). Prior approval of RBI is required before takeover/ acquisition by a non-authorised entity (i.e., not a PSO), including a change in management. Various processes and timelines are required to be followed for this and in respect of the stakeholders, which must be structured in the definitive agreement.

In light of these issues, steps were taken by our team on behalf of our client to minimize regulatory exposure to ensure that the approval and other processes are streamlined.

The HSA team comprised of Pragya Ohri (Partner); Soumya De Mallik (Partner); Prithviraj Chauhan(Principal Associate); Kanika Kumar (Principal Associate); Aditi Soni (Senior Associate); Meghana R(Associate) and Debraj Ghosh (Associate).