Utkarsh Bhatnagar

Utkarsh is a Partner at our Mumbai office in the FinTech, Financial Services and Technology practice group.

He represents Indian and multinational technology, research & development, emerging technology, banking, payments, fintech and information/ emerging technology companies on transactional, enforcement and regulatory matters. His transactional practice focus is on public & private M&A, capital raising, commercial agreements and activism matters.

In the transactions space, Utkarsh is responsible for managing end-to-end documentation requirements for PSO investments and acquisitions, NBFC – finding rounds / sale and exits and Cross-border – inbound and outbound. He also regularly advises several banks, non-banks, ‘payment system operators’, card networks, payments processing (domestic and cross-border), travel booking, technology, emerging technology, and virtual digital asset service providers (domestic and global) on various regulatory, product creation and vetting, compliance, policies, and law enforcement matters.

Relevant Experience:

M&A

Advised Adani Group on the acquisition of Adani Capital and Adani Housing by Bain Capital.
Advised on India leg of the Uber’s spin out from Careem (middle east)’s super app business.
Advised DMI Finance Private Limited’s fundraising led by Mitsubishi UFJ Financial Group.
Advised Centrum Group and BharatPe on setting up ‘Unity Small Finance Bank’ and its subsequent merger with PMC Bank.
Advised SMBC’s investment in Aseem Infrastructure Finance.
Amalgamation of PNB, Oriental Bank of Commerce (OBC), and United Bank of India.

Payments, FinTech and Data:

Advising National Payments Corporation of India on strategic and regulatory projects.
Advising various hotels and travel industry players on payments, commercial contracts, and regulatory matters.
Advising various FinTechs and Tech companies in relation to: (a) the sale and acquisition of regulated businesses / entities; and (b) the drafting and filing of regulatory applications (Banks, Non-Banks and PSOs).
Advising various Tech, FinTech and banking sector companies on digital lending, business correspondence and outsourcing arrangements.
Advising financial services players on aspects of data (personal, sensitive personal, and payments), data sharing, retention, and purging of personal data pursuant to the new Digital Personal Data Protection Act, 2023, and other sectoral regulations.

Others:

‘Cryptos under PMLA: More clarity needed on the implementation of the law’ – Money Controland Financial Express – March 2023.
‘Navigating Banking and Finance in India from a Fintech Perspective’ – IFLR – June 2021.
‘Legal Status of Cryptos in India| Developing in a regulatory framework’ – India Business Law Journal – June 2021