Firm Matters
BackKhaitan & Co advised Gokaldas Exports Ltd (“GEL”) in relation to amalgamation of BRFL Textile Pvt. Ltd. (“BTPL”) with GEL.
A year after its strategic investment in BTPL, the board of GEL has approved the amalgamation of BTPL with GEL, aimed at creating a vertically integrated business with enhanced operational and financial efficiencies. The draft scheme of amalgamation, proposed under Sections 230–232 and other applicable provisions of the Companies Act, 2013, provides two consideration options for existing BTPL shareholders: (a) equity in GEL, or (b) a combination of cash and equity in GEL. Each shareholder of BTPL may choose between the two options.
Deal Team
The core team consisted of Mehul Shah (Partner), Ashutosh Sharma (Partner), Aman Yagnik (Partner), Jamsheed Dadachanji (Principal Associate), Neekesh Shetty (Principal Associate), Akshay Madan (Senior Associate), Amit Panwar (Senior Associate), Anadi Saxena (Senior Associate), Anmol Sharma (Associate), Kashvi Shetty (Associate) and Sanjana Dwivedi (Associate).
