DSK Legal helps Sonu Sood seal a deal

DSK Legal helps Sonu Sood seal a deal

The famous film star and social worker will represent Spice Money as its brand ambassador.

DSK Legal has helped noted film star turned social workers Sonu Sood (SS) and his Sood Informatics LLP (SIL) seal a deal with Spice Money Limited in order to their shared vision of digitally empowering rural India.

DSK Legalrepresented and advised SS and SIL in relation to SIL's investment in and endorsement of Spice Money Limited (Spice Money), formerly known as Spice Digital Limited. The Spice Digital Limited was originally incorporated as Cellebrum.com Private Limited, a subsidiary of Digispice Technologies Limited.

The collaboration between SS, SIL and Spice Money stems from the shared aspirations of the parties to digitally and financially empower over one crore rural entrepreneurs, with an intent to encourage financial inclusion and bridge the gap between rural and urban India.

Spice Money is predominantly engaged in the business of operating tech-enabled banking, payments and financial services network and tech-enabled multi-utility platform enabling access of multiple products and services to small businesses and customers.

As a part of the transaction, SS shall be acting as Spice Money's brand ambassador and providing endorsement services to further Spice Money operations and outreach, in consideration for allotment to 8,69,030 equity shares of Spice Money with differential voting rights ("Class B Equity Shares").

DSK Legal assisted in, amongst others: (a) structuring of the transaction, (b) drafting, review and negotiation of the: (i) endorsement agreement between SS, SIL and Spice Money for provision of the endorsement services by SS and allotment of the Class B Equity Shares to SIL; and (ii) shareholder's agreement between SS, SIL, Digispice and Spice Money to record their understanding in relation to SIL's rights and interests in Spice Money and for the promotion and operations thereof, and (c) assisting in execution of the transaction.

The DSK team representing SS and SIL comprised of Mr. Rishi Anand (Partner), Mr. Jitendra Soni (Principal Associate), Mr. Chirag Jain (Senior Associate) and Ms. Palak Sehgal (Associate).

The Digispice and Spice Money team was represented by S&R Associates.