12 June, 2023| New Delhi: Shardul Amarchand Mangaldas & Co. advised Oben Ventures LLP (OVL) on establishing Go Digit Life Insurance Limited (Go Digit Life) as a life insurance company and on structuring their investment in Go Digit Life. Go Digit Life has been granted a certificate of registration by the Insurance Regulatory and Development Authority of India at its meeting held on June 2, 2023, to conduct life insurance business in India. Go Digit Life’s registration takes the number of life insurance companies in India to 26.
OVL, backed by Kamesh Goyal, is a promoter of Go Digit Life, which is amongst the first few companies to have obtained registration as an insurer under the recently issued IRDAI (Registration of Indian Insurance Companies) Regulations, 2022. Go Digit Life marks the foray of Kamesh Goyal, the founder of Go Digit General Insurance Limited, in the life insurance space.
The transaction team was led by Shailaja Lall, Partner, Anu Susan Abraham, Partner, Arush Upmanyu, Principal Associate, Anupam Choudhary, Senior Associate and Neeti Amin, Associate.
Ashish Teni, Partner and Uday Opal, Principal Associate advised on the application for registration under the IRDAI registration regulations.
About Shardul Amarchand Mangaldas & Co.:
Shardul Amarchand Mangaldas & Co., founded on a century of legal achievements, is one of India’s leading full-service law firms. The Firm’s mission is to enable business by providing solutions as trusted advisers through excellence, responsiveness, innovation, and collaboration. SAM & Co. is known globally for its exceptional practices in mergers & acquisitions, private equity, competition law, insolvency & bankruptcy, dispute resolution, capital markets, banking & finance, and projects & infrastructure.
The Firm has a pan-India presence and has been at the helm of major headline transactions and litigations in all sectors, besides advising major multinational corporates on their entry into the Indian market and their business strategy. Currently, SAM has around 775 lawyers including 158 Partners, offering legal services through its offices in New Delhi, Mumbai, Gurugram, Ahmedabad, Kolkata, Bengaluru, and Chennai.
