Cyril Amarchand Mangaldas Advises Larsen & Toubro on Consolidation of Real Estate Assets

Cyril Amarchand Mangaldas advised Larsen & Toubro Limited (L&T) on the proposed scheme of arrangement among Larsen & Toubro Limited and L&T Realty Properties Limited (LTRPL) and their respective shareholders under Sections 230 to 232 of the Companies Act, 2013. The scheme provides for, inter alia, the transfer of the realty undertaking of L&T to LTRPL as a going concern on a slump sale basis and, in consideration, inter alia, the issuance of equity shares of LTRPL to L&T. It also contemplates a reorganisation of the share capital of LTRPL. The transaction marks the beginning of a phased consolidation of all real estate assets and undertakings of L&T into LTRPL, with the objective of creating a unified entity positioned to capitalise on growth in India’s real estate sector. Cyril Amarchand Mangaldas represented Larsen & Toubro Limited with a team composed by: L. Viswanathan, Senior Partner; Sudhir Kapadia, Senior Advisor; Bhargav Joshi, Partner; assisted by Saumya Sharma, Associate; Ayushi Agarwal, Associate; and Arushi Kankariya, Associate. Indranil Deshmukh, Partner (Head - Disputes), with assistance from Tapan Deshpande, Director - Corporate Litigation, and Aekaanth Nair, Senior Associate, advised on disputes aspects. Ashish Jain, Partner; Edward James, Partner; Rishiraj Bhatt, Partner; Abhilash Pillai, Partner; Siddharth Singh, Partner; with assistance from Kripa Sankari, Principal Associate; Shorya Choudhary, Principal Associate; Siddharth Iyer, Principal Associate; Pavithra Rao, Senior Associate; Nikita D'silva, Consultant; Kinnari Jain, SA – Designate; Vedantha Sai, Senior Associate; Mansi Sethiya, Associate; Januja Gathraj, Associate; Utkarsh Tyagi, Associate; Shruthi P, Associate; and Vaishnavi Joshi, Associate, advised on real estate aspects. Ankita Ray, Partner, with assistance from Faiza Khan, Principal Associate, and Mayank Jain, Associate, advised on employment aspects. Kaustav Kundu, Partner, with assistance from Rajat Sharma, Senior Associate, and Vrinda Gundam, Associate, advised on competition law aspects. Devaki Mankad, Partner (Regional Co-Head - Capital Markets - West), and Manan Lahoty, Partner (Head - Capital Markets), with assistance from Hitesh Nagpal, Associate, advised on capital markets aspects.

Cyril Amarchand Mangaldas Advises Larsen & Toubro on Consolidation of Real Estate Assets

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