Shardul Amarchand Mangaldas advises Jindal Stainless Limited in its acquisition of Rabirun Vinimay Private Limited through a Swiss Challenge auction process

January 10, 2024

Shardul Amarchand Mangaldas advises Jindal Stainless Limited (“JSL”) in its acquisition of Rabirun Vinimay Private Limited (“RVPL”) of the BRG Group. JSL emerged as the successful bidder for the auction as a going concern under Regulation 32A of the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016, via a Swiss Challenge auction process.  The acquisition plan has been approved by NCLT.

The SAM & Co. team was led by Anoop Rawat, Partner; Saurav Panda, Partner; Amrit Mahal, Senior Associate and Devansh Rathi, Associate along with Deepanjan Dutta Roy, Senior Associate who assisted in the litigation before the Hon’ble National Company Law Tribunal, Kolkata.

CA Kannan Tiruvengadam acted as the liquidator for the deal.

Khaitan & Co. advised the Liquidator on the legal aspects.