Bhoumick Vaidya
Bhoumick Vaidya is a Partner in the Firm’s Real Estate and General Corporate practice. He specialises in real estate and property law, areas of corporate law, primarily focusing on title diligence, title acquisitions, private equity transactions and debt transactions.
Bhoumick has extensive experience in matters of property law and conveyance and has in depth understanding of law governing development and re-development of properties, land laws, law relating to townships, revenue code, rent law, property taxes, stamp duty and registration, etc. He has also dealt with various matters of commercial nature including laws related to contract, company, partnership and personal laws such as testamentary, trust and succession.
Bhoumick successfully handles and advises various clients including well known corporate houses, developers, esteemed banks/financial institutions, high profile real estate investors, and funds etc., in matters relating to acquisition of lands for development of commercial and residential properties, sale and purchase of commercial and residential premises, leases, leave and license, joint ventures and joint developments, development of warehousing projects, integrated townships, slum rehabilitation projects, redevelopment of housing societies, acquisitions of special economic zones, Industrial Parks, acquisition of land belonging to City and Industrial Development Corporation, acquisition of land belonging to Maharashtra Housing and Area Development Authority, acquisition of land belonging to Maharashtra Industrial Development Corporation, hotel acquisition, development of real estate, etc.
His expertise also extends to appearing before Real Estate Regulatory Authority and Tribunal on behalf of developers and providing general advisory.
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Bhoumick has also advised various clients including financial institutions in respect of matters relating to real estate companies under the Insolvency and Bankruptcy Code, 2016. His practice also covers general corporate transactions and advisory work.
Bhoumick has advised various non-banking financial institutions in relation to securities lending transactions and alternate investment funds in relation to debt funding transactions. He has also attained experience in acquisitions in the hospitality sector.
Bhoumick has also authored a commentary on the Real Estate (Regulation and Development) Act, 2016 along with the rules and regulations framed thereunder for Maharashtra and provided his short notes on the Development Control and Promotion Regulations for Greater Mumbai, 2034, both of which have been published and are available in the public domain.
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- Birla Estates Private Limited on the title diligence and purchase of land and building at Malabar Hill, Mumbai
- Sobo Estate Development Private Limited (subsidiary of Jindal SAW Limited) on a revenue share agreement with Macrotech Developers Limited (Lodha Developers)
- Kansai Nerolac Paints Limited on the title diligence, auction process and sale of their property admeasuring approximately 25 Acres at Kavesar, Thane to Shoden Developers Private Limited (House of Hiranandani Group).
- House of Hiranandani Group for the redevelopment of several societies at Chembur, Mumbai
- CapitaLand India Trust (Ascendas Group) in acquisition of leasehold rights over 25 acre parcel of land falling under an IT Special Economic Zone and situated at Hinjewadi, Pune along with ownership rights over the structures/ buildings standing thereon.
- Brookfield and its affiliates in relation to acquisition of hotel property (The Leela, Bangalore) and commercial spaces in the building known as Leela Galleria.
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- Ashdan Properties Private Limited (Solitaire Group) in relation to corporate insolvency resolution process of Indo Global Soft Solutions and Technologies Private Limited.
- Interglobe Hotels Private Limited for purchase of land in Thane for the purpose of constructing a hotel thereon. This transaction included release of a subsisting mortgage simultaneously with the purchase of the land.
- Tata Power Company Limited for the redevelopment of their property situated in Mumbai.
- DLF Limited, Platinum Corp and the Solitaire Group on the redevelopment of their properties in Mumbai.
- Ground Holding Realtors Private Limited in relation to its role as a development manager for the redevelopment of properties in Mumbai.
- Kansai Nerolac Paints Limited in relation to the acquisition of its new headquarters in Marathon Group’s commercial project Marathon Futurex.
- Kotak Special Situations Fund (managed by Kotak Investment Advisors Limited) for conducting title due diligence for property situated in Mumbai and investment of INR 525 Crores by way of listed NCDs in an SPV of Prestige Estates Projects Limited and DB Realty Limited.
- Kotak India Real Estate Fund – VIII (managed by Kotak Investment Advisors Limited) for conducting title due diligence for property situated in Pune and investment of INR 311.5 Crores by way of unlisted NCDs in an SPV of Solitaire Group and VTP Group.
- Kotak Investments Limited and Kotak Mahindra Bank for lending in project being developed by Sheth Developers in Mumbai.
- Various other private equity funds, NBFCs and developers including CapitaLand Limited, Brookfield, Everstone Capital, Xander Finance, CapriGLobal, Motilal Oswal and Aditya Birla on investigation of title and providing title reports for investments / proposed investments in various projects and advising on provisions of the Insolvency and Bankruptcy Code, 2016 and Real Estate Regulation and Development Act, 2016 and other real estate laws.
- Several developers including Birla Estates, Sunteck Realty Limited, Ruby Mills Limited, Rohan Lifescapes and representing them before the Maharashtra Real Estate Regulatory Authority, the Maharashtra Real Estate Appellate Tribunal and High Court of Bombay.
- Promoters of Matheran Ropeway Private Limited for sale of interest to Tata Group in the proposed ropeway project from Nerul to Matheran.
- Promoters of a leading restaurant chain to initially acquire the balance minority stake in the Company and subsequent sale of entire business. Promoters of a top paint company, power company and pharmaceutical company and provided advise on:
- Structuring the Estate;
- Drafting and finalising Wills and Gift Deeds; and
- Drafting and finalising Trust Deeds (including discretionary and non-discretionary trusts)
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A detailed experience statement can be shared on a confidential basis.
Professional Memberships
- Solicitor – Bombay Incorporated Law Society (2009)
- Solicitor – College of Law, London & Wales (2009)
- Advocate – Bar Council of Maharashtra and Goa (2007)
Education
- B.L.S. LL.B, Solicitor Bombay and UK
