New Delhi December 1st 2022: Lakshmikumaran and Sridharan (“LKS”) represented Central Warehousing Corporation (“CWC”) in its acquisition of the business undertaking of Central Railside Warehouse Company Limited (“CRWC”) via slump sale. CWC is a body corporate incorporated and established under the Warehousing Corporations Act, of 1962.
LKS acted as the legal counsel for CWC and CRWC and advised them on legal, tax, structuring, and regulatory aspects of the transaction including preparing deal-related documents, conducting negotiations, and legal due diligence of CRWC and CWC.
The LKS team was led by Mr. Sudish Sharma, Executive Partner (Corporate and M&A), with Mr. S. Vasudevan, Executive Partner (Direct Tax), Ms. Shweta Walecha, Director (Indirect Tax), Ms. Neelambera Sandeepan, Partner (Competition and Antitrust Law) and included our corporate team members Mr. Shivank Arora (Principal Associate), Ms. Sonali Srivastava (Senior Associate), Ms. Apurva Jain (Senior Associate), Mr. Pratham Soni (Senior Associate), Ms. Ayushi Agarwal (Associate) and Ms. Prachi Yadav (Associate) and Mr. Harshit Khurana (Principal Associate) and Mr. Aman Baid (Associate) from the direct tax team and Ms. Arushi Jain (Principal Associate) from indirect tax team.
The said transaction comprised of the sale of the business undertaking (related to developing and promoting railway warehouses and providing seamless supply chain management system and rail-based logistics) of CRWC by way of slump sale as an inseparable, whole, and ongoing concern basis, to CWC, pursuant to the execution of business transfer agreement (“BTA”) and other ancillary agreements and documents.
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