ABOUT THE RECRUITER

Phoenix Legal is a full-service Indian law firm offering transactional, regulatory, advisory, dispute resolution and tax services. The
firm advises a diverse clientele including domestic and international companies, banks and financial institutions, funds, promoter
groups and public sector undertakings.

Phoenix Legal was formed in 2008 and now has 13 Partners and 65 lawyers in its two offices (New Delhi and Mumbai) making it
one of the fastest growing law firms of the country.

Mr. Saket Shukla, Partner at the Delhi Office, specializes in strategic advisory work and high-end complex transactions cutting
across various sectors, including infrastructure, mining and resources, oil and gas, construction, insurance, broadcasting, telecom
and hospitality.

I also worked closely with Ms. Aditi Sharma, Principal associate who specializes in transactional law, and Mr. Akshay Sachthey,
Senior Associate specializing in corporate advisory.

PERIOD OF INTERNSHIP

The internship spanned over a period of 5 weeks, from 25 November 2019 to 31 December 2019.

WORK ASSIGNED

For the most part of my internship, I was asked to do extensive research on various provisions of law. A substantial part of my
research was based on labour laws, competition law, company law, and insolvency law.

Our firm was approached by a client seeking advice on termination of employment contracts of a number of their employees. I was
asked to review the job profile of each such employee and make a determination of whether the employee would be considered to
be employed in a 'supervisory', 'managerial' or 'administrative' capacity. I also researched on the judicial interpretation of the terms
'supervisory', 'managerial' and 'administrative' to understand whether, given our case's facts, the employees would qualify as
'workmen' under the Industrial Disputes Act, 1947.

In relation to the same matter, I also researched on the requirement of domestic inquiry in case of termination of employee on ground
of misconduct, and the process of conducting such an inquiry. The queries asked by the client also required research on (i) what
constitutes ‘misconduct’ and ‘moral turpitude’; (ii) pre-conditions for termination of an employee without notice; (iii) whether a
private company has to abide by principles of natural justice while terminating the services of its employees; (iv) whether refusal to
cooperate during a domestic inquiry can be a valid ground for dismissal of service of an employee; (v) whether leave encashment
can be denied to an employee who has been dismissed for misconduct. I also researched on the difference between contract labour
and employee.

I was part of a due diligence conducted on the affairs of a company incorporated in the union territory of Dadra and Nagar Haveli.
Our client, an Italy-based multi-national company is in the process of acquiring the Indian company which is engaged in the
manufacture of hygiene products. In connection with this due-diligence, I had to review numerous documents such as licences
obtained by the company under different labour laws applicable to Dadra and Nagar Haveli, loan related documents, share
certificates, minutes of board meetings and shareholders' meetings. I also did extensive research on all the labour laws applicable to
the company, the registers to be maintained and returns to be filed under such law.

I assisted in preparing the short form notice to be filed with the Competition Commission of India in relation to a proposed
combination. I also assisted in preparing the requisition list for filing long form notice under Section 6(2) of the Competition Act,
2002. This required research on the concept of 'relevant market' and how to delineate it, inter-connected transactions and composite
mergers.

I was asked to draft a primer on the Insolvency and Bankruptcy Code, 2016 and explain the basics of the framework. I also wrote
an article on 'commercially sensitive information' and the role of 'clean teams' in mergers, acquisitions, and other transactions
between competitors.

I drafted a set of 16 gift deeds in connection with inter se transfer of shares of certain companies between the members of the
promoter group. These transactions were a part of a scheme of arrangement entered into between 4 companies. I also got an
opportunity to draft a complaint against the revenue department of the Delhi Jal Board in connection with an error committed by
them in calculating the water bill. The Delhi Jal Board had issued a notification announcing a scheme for waiver of late payment
surcharges and a further rebate on the principal amount of bill due for all households and commercial consumers across Delhi. Under
this scheme, under client was entitled to a total waiver of approximately Rs. 4,00,000. However, the bill generated by the revenue
department reflected a waiver of Rs. 3,00,000 only.

I also drafted a memorandum of understanding entered into between a company engaged in the business of tourism and a sole
proprietorship specializing in advertising, marketing and product development services.

Another interesting research that I got to do was related to a branch office of foreign reinsurer in India. The queries asked by our
client included the retrocession limit permissible under Indian insurance law and foreign exchange law and whether there was any
recent amendment to such laws, whether the branch office can retrocede to foreign reinsurance companies other than its parent
company and if yes, what are the limitations on such retrocession. Another question was regarding the amount of dividend the branch
office could repatriate to the parent entity.

Besides these, I was engaged in a number of other research work.

ROLES AND RESPONSIBILITIES

I was mostly given research work. I worked closely with Mr. Akshay Sachthey, Senior Associate at the firm who specialized in
general corporate advisory. As a result, I got to understand and learn first-hand, how to draft opinions and advices. Although I did
not get an opportunity to draft an opinion in this internship myself, I was closely involved in the work. I did extensive research on
the queries of by the clients and was therefore instrumental in preparing the opinions and advices.

I read case laws and discussed them with my Partner and Senior Associate, wrote articles and drafted gift deeds, letters, and
memorandum of understanding.

I was closely involved in some of the major transactions that the firm was dealing with at that point in time. I was fortunate to also
attend client calls and meetings.

At the end of the internship, I received a pre-placement offer from the law firm.

LEARNING AND EXPERIENCE

This was my call-back internship at Phoenix Legal, the first being in the month of August last semester. The August internship was
my first internship in the field of corporate law. Contrary to what I had expected, I grew a strange liking towards this field after I
started working here. All my previous internships have been in disputes and I had little to no exposure to corporate laws. I was
unaware of how to operate the website of the Ministry of Corporate Affairs and download public documents filed by companies. I
had never done a critical notification search in my previous internships or research related to statutes and different rules and
regulations framed under them. Disputes internships, in my opinion are very different since we mostly get to research case laws and
draft applications/ replies or rejoinders. This internship helped me leave my comfort zone and understand my true calling. I can