Deal Closed | Bharat Forge Limited | Acquisition of Sanghvi Forging & Engineering Limited Under IBC Process
The details of the deal are as follows:
Sector: Forging
Announcement Date: 26-Apr-2021
Completion Date: 28-Jun-2021
Name of Client: Bharat Forge Limited
Bidder Details: Bharat Forge Limited | India
Bharat Forge Limited is a Pune-based Indian multinational company involved in automotive, power, oil & gas, construction & mining, locomotive, marine and aerospace industries. The company has also entered into the defence sector.
Deal Description: Acted as the legal counsel to Bharat Forge Limited, the successful resolution applicant in relation to insolvency resolution of Sanghvi Forging & Engineering Limited (SFEL) under IBC.
Total Consideration: USD 10.4 million
Team Members: The core team comprised of Kumar Saurabh Singh (Partner), Vishnu Shriram (Principal Associate), Vivek Mishra (Principal Associate), Riya Agicha (Senior Associate) and was assisted by Sudhir Bassi (Executive Director), Vaibhav Mittal (Counsel) on delisting of the corporate debtor and Bhavik Narsana (Partner), Yigal Gabriel (Partner), Lipi Rawat (senior Associate) and Rohan Shah (Associate) on due diligence of SFEL.
Role of Firm: As the legal counsel to the resolution applicant, the firm drafted, negotiated and implemented the resolution plan submitted by Bharat Forge Limited for Sanghvi Forging & Engineering Limited.
Other legal advisors if any: Legal advisor to CoC: Cyril Amarchand Mangaldas
