Cyril Amarchand Mangaldas advises L&T Finance Holdings on merger of its subsidiary entities
Dec 22, 2023
BusinessWire India
Mumbai (Maharashtra) [India], December 22: Cyril Amarchand Mangaldas advised L&T Finance Holdings (LTFH) on the merger of L&T Finance Limited (LTF), L&T Infra Credit Limited (LTICL) and L&T Mutual Fund Trustee Limited (LTMFTL) with L&T Finance Holdings Limited (LTFH).
The General Corporate, Disputes and Financial Regulatory Practice of Cyril Amarchand Mangaldas advised on the transaction. The transaction team was led by Pranay Chandran, Partner; with support from Shweta Sriram, Principal Associate; Amanee Kadakia, Associate; and Kinjal Sharma, Associate.
Tapan Deshpande, Director-Corporate Litigation; with support from Aekaanth Nair, Senior Associate-Designate; assisted on representation before the NCLT, Kolkata and Mumbai.
Anu Tiwari, Partner and Co-Head - Fintech; Jian Johnson, Partner; with support from Hamraj Singh, Senior Associate; and Karthik Narayan, Associate provided inputs on RBI and SEBI related aspects.
The transaction involved amalgamation of LTFH's subsidiaries, LTF, LTICL and LTMFTL with LTFH, pursuant to a scheme of arrangement under the provisions of Sections 230 - 232 read with Section 52 of the Companies Act, 2013, and other applicable regulatory requirements (the "Scheme").
Other advisors to the transaction included Ernst & Young LLP (acted as financial advisor for L&T Finance Holdings Limited).
The Scheme has been made effective from December 4, 2023.
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