Shardul Amarchand Mangaldas & Co. advises Navayuga Engineering Company Limited (NECL) on the settlement of its dispute with 3i by transfer of 11.76% equity shares of NECL held by 3i to an affiliate of NECL

December 11, 2020

Shardul Amarchand Mangaldas & Co. (SAM & Co) advised Navayuga Engineering Company Limited to settle the dispute with 3i, through the purchase of 11.76% of equity shares of Navayuga Engineering Company Limited from two exiting private equity investors, 3i Research (Mauritius) Limited and 3i Infraprojects (Mauritius) Limited, by Well-Do Holdings and Exports Private Limited (an affiliate of Navayuga Engineering Company Limited). The date of closing was October 9, 2020.

The transaction required settlement of outstanding disputes and resulted in the complete exit of foreign investors in Navayuga Engineering Company Limited and consolidation of the ownership of Navayuga Engineering Company Limited.

The transaction team was led by Amit Kumar, Partner, Anshul Asri, Senior Associate and Aayush Sood, Senior Associate. The litigation team was led by Ajit Warrier, Partner, Angad Kochhar, Principal Associate, Anukrit Gupta, Senior Associate.

3i Research (Mauritius) Limited and 3i Infraprojects (Mauritius) Limited were advised by Trilegal.