Shardul Amarchand Mangaldas & Co. advises Committee of Creditors of Vadraj Cements Limited on the Corporate Insolvency Resolution Process of Vadraj Cements Limited

April 10, 2025

Shardul Amarchand Mangaldas & Co. advised the Committee of Creditors of Vadraj Cements Limited, led by Punjab National Bank in relation to the corporate insolvency resolution process of Vadraj Cements Limited. The resolution plan approved by the Hon’ble National Company Law Tribunal, Mumbai on 1 April 2025 and is valued at approximately INR 1800 crores.

The acquisition will be carried out through Vanya Corporation Private Limited, a wholly owned subsidiary of Nuvoco, which will subsequently merge with Vadraj Cements Limited. Upon completion of the merger, Vadraj Cements will become a wholly owned subsidiary of Nuvoco Vistas, further consolidating its presence in the Indian cement industry. The acquisition would make Nuvoco Vistas the fifth largest cement group in India.

The transaction team was led by Soummo Biswas, Partner; Yugal Jain, Principal Associate; Apeksha, Senior Associate; Aditi Tomar, Senior Associate; Ritika Sharma, Associate; Amandeep Saini, Associate. The litigation team was led by Misha, Partner and Abhilash Chaudhary, Principal Associate.

The Resolution Professional of Vadraj Cements Limited was advised by AZB & Partners on the legal aspects.

Nuvoco Vistas Corporation Limited, the successful resolution applicant, was advised by Khaitan & Co. on the legal aspects.