J. Sagar Associates advised PVR Limited in buying back the entire equity and preference share capital held by private equity firm L Capital Asia in PVR Leisure, for an undisclosed amount. .In 2012, L Capital Eco, a subsidiary of private equity fund L Capital Asia, had signed an agreement to invest 108 crore ($19.26 million) in PVR’s cinema exhibition and in-mall entertainment business. That transaction was also advised by JSA and AZB & Partners..The JSA team included Partner Sidharrth Shankar and Associates, Shantanu Jindel and Priyam Singh..AZB & Partners advised L Capital with a team led by Delhi Partners Vinati Kastia along with Senior Associate Shiladitya Banerjee..This is L Capital’s first exit from the Indian market. It has earlier invested in Fabindia in March 2012, advised by AZB and Luthra & Luthra, as well as Genesis Luxury Fashion in October 2011 advised by AZB and Amarchand Mangaldas.
