Deal Report | Advisory to the Resolution Professional in relation to the CIRP of SVIIT Software Private Limited | Pricewaterhousecoopers Professional Services LLP

Khaitan & Co acted as legal counsel to the Resolution Professional (RP) of SVIIT Software Private Limited (SSPL) in the Corporate Insolvency Resolution Process (CIRP) of SSPL. Mr. Mahender Kumar Khandelwal was appointed as the Resolution Professional of SSPL by the order of Hon'ble NCLT, Principal Bench.

The details of the deal are as follows:

Sector Real Estate 

Announcement Date 25-Jun-2021 

Completion Date 31-May-2021 

Name of Client Pricewaterhousecoopers Professional Services LLP 

Name and Description of Acquirer / Bidder / Investor Mr. Parmjit Gandhi | India 

Deal Description Mr. Mahender Kumar Khandelwal was appointed as the Resolution Professional (RP) of SVIIT Software Private Limited (SSPL) by the order of Hon'ble NCLT, Principal Bench. Our team acted as legal advisor to the RP and PwC Team (acting as process advisors to the RP) in relation to the corporate insolvency resolution process (CIRP) of SSPL. 

Total Consideration USD 5.78 Millions 

Team Members The deal was led by Siddharth Srivastava (Partner) along with his team members Harshit Khare (Principal Associate), Mohit Kishore (Principal Associate), Raunak Singh Rahangdale (Senior Associate), and Udita Singh (Associate). Litigation assistance was provided by Wamika Trehan (Principal Associate) and Shivank Diddi (Senior Associate). 

Role of Firm Acted as legal counsel to the Resolution Professional (RP) of SVIIT Software Private Limited (SSPL) in the Corporate Insolvency Resolution Process (CIRP) of SSPL. Mr. Mahender Kumar Khandelwal was appointed as the Resolution Professional of SSPL by the order of Hon'ble NCLT, Principal Bench. Our team acted as legal advisor to the Resolution Professional in relation to the corporate insolvency resolution process of SSPL. The RP side advisory was done by Siddharth Srivastava, Harshit Khare, Raunak Singh Rahangdale, Mohit Kishore, and Udita Singh including representing the Client before the Hon’ble NCLT, Principal Bench under various applications. Wamika Trehan and Shivank Diddi facilitated litigation matters relating to the transaction before the Hon’ble NCLT.