Shardul Amarchand Mangaldas & Co. advises Resolution Professional and the Monitoring Committee of SEL Manufacturing Company Limited on acquisition of Consortium of Arr Ess Industries Private Limited and Leading Edge Commercial FZE

April 9, 2021

Shardul Amarchand Mangaldas & Co. advised Resolution Professional and the Monitoring Committee of SEL Manufacturing Company Limited on the acquisition of Consortium of Arr Ess Industries Private Limited and Leading Edge Commercial FZE from NCLT. The date of closing was 13 March 2021.

This acquisition was the biggest resolution under the Insolvency and Bankruptcy framework in North India in the textile sector in terms of deal value.

The IBC transaction team was led by Anoop Rawat (Equity Partner) and Zeeshan Khan (Principal Associate) and assisted by Shreyas Gupta (Senior Associate), Shivangi Kumar (Associate), Vimal Asthana (Associate) and Varsha Gupta (Associate). The IBC Litigation team comprised of Misha (Partner), Siddhant Kant (Principal Associate), Shantanu Tyagi (Principal Associate) and Moulshree Shukla (Associate). The Corporate Compliance team comprised of Rohan Jain (Principal Associate) and Kshitij Gupta (Associate).

Grant Thornton LLP advised Resolution Professional. Duff and Phelps advised Committee of Creditors.