Aekom Legal successfully represented a global EPC contractor in a commercial summary suit arising from a Letter of Credit dispute against a leading nationalised bank. The Hon’ble Court dismissed the defendant bank’s application for Leave to Defend under Order XXXVII of the Code of Civil Procedure.
The decision reinforces a settled principle of commercial law that where liability under a Letter of Credit is clear and unconditional, and the defence raises no triable issues, leave to defend cannot be granted as a matter of course. The judgment further clarifies that a summary suit for enforcement of a Letter of Credit is maintainable directly against the issuing bank, without the requirement of first proceeding against the underlying contracting party.
The Aekom Legal team comprised NPS Chawla (Co-Founder & Joint Managing Partner), Sujoy Datta (Partner), Surekh Kant Baxy (Associate Partner Designate), Abhinav Mishra (Senior Associate) and Jasjeet singh (Associate).
Aekom Legal advised Amber Enterprises India Limited, acting through its material subsidiary IL JIN Electronics (India) Private Limited, on the acquisition of a majority stake in SHOGINI TECHNOARTS PVT LTD, a leading and long-established manufacturer of printed circuit boards (PCBs) in India.
The transaction enables Amber to internalise PCB manufacturing capabilities, strengthening supply chain resilience, reducing import dependence, and aligning with the Government of India’s Make in India initiatives.
The Aekom Legal team comprised Satwinder Singh (Founder & Managing Partner), Kalpit Khandelwal (Partner), and Sayyeda Saniya (Senior Associate).
Aekom Legal advised IL JIN Electronics (India) Private Limited, a material subsidiary of Amber Enterprises India Limited, on its strategic investment in MoMagic Wireless Private Limited, a company engaged in the design, development and supply of wireless communication modules, including Cellular, BLE and Wi-Fi modules.
The transaction strategically aligns with IL JIN’s objective of entering the Internet of Things (IoT) domain and strengthening its capabilities in module design and development, further expanding its footprint across smart electronics, automotive and telecom sectors.
The Aekom Legal team comprised Satwinder Singh (Founder & Managing Partner), Kalpit Khandelwal (Partner), Komal K. (Senior Associate), and Srishti Pareek (Associate), who advised on an end-to-end basis, including structuring and the negotiation and drafting of the definitive transaction documents.
Aekom Legal successfully represented a leading event management company before the Delhi High Court in a writ petition arising from non-payment of contractual dues by a Central Ministry in connection with the G20 events.
The Hon’ble Court directed release of the admitted amounts and reaffirmed that the existence of an arbitration clause does not bar writ jurisdiction where the claim pertains to undisputed dues. The Court further held that non-payment of admitted amounts by the State constitutes arbitrary action amenable to challenge under Article 226 of the Constitution of India.
The Aekom Legal team comprised NPS Chawla (Co-Founder and Joint Managing Partner), Sujoy Datta (Partner), Surekh Kant Baxy (Associate Partner) and Aarsheya Sharda (Senior Associate).
Aekom Legal successfully represented a leading EPC contractor in a petition filed against NTPC under Section 9 of the Arbitration and Conciliation Act 1996, seeking stay on encashment of Contract Performance Guarantee and Bid Security Bank Guarantee in respect of a contract that had been descoped by NTPC. The Hon’ble High Court of Delhi enjoined NTPC from encashing the said guarantees, and noting that there is no objection to existence of arbitration agreement, also appointed the Arbitral Tribunal and directed for the petition to be treated as a petition under Section 17 of the Act.
The team comprised of Mr. NPS Chawla (Co-Founder & Joint Managing Partner), Mr. Sujoy Datta (Partner- Dispute Resolution) and Mr. Surekh Kant Baxy (Principal Associate).
Aekom Legal successfully represented a leading financial institution before the Hon’ble Supreme Court of India in a Criminal Special Leave Petition, securing a stay on the order of the Hon’ble Gujarat High Court and the criminal appeal proceedings pending before the Sessions Court, Rajkot.
The matter reaffirmed that inordinate delay in filing appeals against conviction cannot be condoned without a reasoned order, and clarified that a Special Leave Petition lies directly against a High Court order passed in a criminal writ petition.
The Aekom Legal team comprised NPS Chawla (Co-Founder & Joint Managing Partner), Sujoy Datta (Partner), Surekh Kant Baxy (Associate Partner Designate), Abhinav Mishra (Senior Associate) and Jasjeet singh (Associate).
Aekom Legal successfully represented Ashdan Properties Private Limited, the Successful Resolution Applicant, before the Hon’ble NCLAT, where the Tribunal dismissed a third-party appeal challenging the resolution process.
The Bench reaffirmed that third parties with unsolicited proposals lack locus to challenge a resolution plan compliant with Section 30(2) of the IBC, and held that Regulation 39(1A) does not limit the CoC’s power to negotiate improved offers, and confirmed that strangers to the CIRP cannot participate in the proceedings.
The Aekom Legal team comprised of NPS Chawla (Co-Founder & Joint Managing Partner), Sujoy Datta (Partner), Nishtha Khurana (Associate Partner Designate), Abhinav Mishra (Senior Associate) and Ishaan D. (Associate).
Aekom Legal successfully represented Kanwar Enterprises Pvt Ltd before the Hon’ble NCLAT (Principal Bench), where the Tribunal dismissed the Section 9 appeal and upheld the rejection of the CIRP application.
The Tribunal reaffirmed that the IBC cannot be invoked to short-circuit commercial accounting disputes, reiterating that pending reconciliation of accounts constitutes a pre-existing dispute, interest cannot be imposed without contractual basis, and disputed claims relating to valuation or cost of materials cannot be unilaterally treated as operational debt.
The Aekom Legal team comprised of NPS Chawla (Co-Founder & Joint Managing Partner), Sujoy Datta (Partner), Surekh Kant Baxy (Associate Partner Designate) and Abhinav Mishra (Senior Associate)
Aekom Legal successfully represented Universus Photo Imagings Limited (a BC Jindal Group company) before the NCLT, Allahabad Bench, in a shareholder petition alleging oppression and mismanagement.
The Tribunal dismissed the petition, reaffirming that commercial decisions made in good faith fall within the Board’s business judgment and do not constitute oppression or mismanagement.
Aekom Legal’s team comprised of Mr. NPS Chawla (Co-Founder & Joint Managing Partner), Mr. Sujoy Datta (Partner), Ms. Nishtha Khurana (Associate Partner Designate), and Mr. Aarsheya Sharda (Senior Associate).
Aekom Legal secured a stay against a majority order passed by an Arbitral Tribunal, which allowed appointment of a Statutory Auditor contrary to provisions on “Affirmative Vote Matters” in SHA on the ground of non-incorporation of terms of SHA into Articles of Association of the subject company.
Appreciating the evolution of law from VB Rangaraj to Vodafone International and Premiere Hockey, the Hon’ble Delhi High Court held that SHA could not be repelled, given (a) company was party to SHA, (b) there was no conflict between SHA and AOA and (c) parties had acted upon and benefitted from SHA.
The transaction was led by Mr. NPS Chawla (Co-Founder & Joint Managing Partner) and Mr. Sujoy Datta (Partner – Dispute Resolution), with key support from Mr. Surekh Kant Baxy (Associate Partner Designate), Ms. Mahima Shekhawat (Senior Associate) and Ms. Aayushi Jain (Associate).
Aekom Legal is pleased to announce that we recently advised a publicly listed company in its strategic acquisition of additional shares in its two subsidiary companies from the minority shareholders, who was earlier the erstwhile promoter in both the Companies. The transaction, valued at approximately INR 105 crores, represent significant steps in the listed company’s efforts to consolidate its position in these key subsidiaries. Following the acquisitions, the public listed company has increased its stake in both entities from 70% to 91%, while the minority shareholders continue to hold residual shareholding in both the companies.
Both subsidiaries are key players in the manufacturing, assembly, and distribution of electronic assembled printed circuit boards (PCBs) for home appliances, entertainment, and automobile products. They also provide repair and return services for these PCBs, further solidifying their critical roles within the industry.
Our dedicated team, led by Mr. Satwinder Singh (Founder & Managing Partner) along with Mr. Kalpit Khandelwal (Partner, M&A), Ms. Sayyeda Saniya (Senior Associate, M&A) and Ms. Deepanshi Trivedi (Associate, M&A), provided comprehensive support in drafting and negotiating the definitive documents and ensuring full compliance with the provisions of the Foreign Exchange Management Act, 1999.
Aekom Legal advised Hampton Sky Realty Limited on entering into a Hotel Management Agreement and Technical Services Agreement with The Indian Hotels Company Limited (IHCL), and an Agreement to Lease with Roots Corporation Limited (RCL), a subsidiary of IHCL.
The transaction involved the execution of (i) a Hotel Management Agreement and Technical Services Agreement for a premium “Gateway” brand hotel with IHCL for the development of state of the art hotel featuring premium amenities, and (ii) an Agreement to Lease for a “Ginger” brand hotel in Ludhiana, Punjab, which will offer approximately 100 guest rooms and feature a variety of amenities, including an all-day dining restaurant and bar, meeting room, fitness center and swimming pool.
The deal team comprised Satwinder Singh (Founder and Managing Partner), who led the transaction, supported by Nirmal Baskaran (Senior Associate) and Jaskiran Kaur (Senior Associate).
We are pleased to announce that Aekom Legal successfully represented Om Logistics Limited, a leading supply chain and logistics management company in India, in its strategic acquisition of a 100% stake in SANJVIK TERMINALS PRIVATE LIMITED.
Sanjvik Terminals is a leading player in the logistics industry, engaged in inland transportation, warehousing, international freight forwarding, third-party logistics, private freight terminal services, and cargo consolidation for storage or carriage purposes.
Our team, led by Kalpit Khandelwal (Partner, M&A), along with Jaskiran Kaur (Senior Associate, M&A) and Nirmal Baskaran (Senior Associate, M&A), played a pivotal role in the extensive negotiation and drafting of the definitive transaction documents.
The transaction also encompassed significant litigation and arbitration aspects, where essential legal advice was provided. Strategic inputs and guidance from NPS Chawla were instrumental in successfully navigating these aspects.
NPS Chawla Kalpit Khandelwal Nirmal Baskaran Jaskiran Kaur
We are thrilled to share that Aekom Legal has successfully represented M/s. Stride Capital Consultants Private Limited for seeking approval of the Hon’ble National Company Law Tribunal, New Delhi for extinguishing and reduction the existing issued, subscribed and paid-up preference share capital under Section 66 of the Companies Act, 2013.
The team comprised Mr. NPS Chawla (Co-Founder & Joint Managing Partner), Mr. Lokesh Dhyani (Partner), Ms. Ashima Jain (Principal Associate), Mr. Yash Jain (Associate) and Mr. Anmol Sharma (Associate), with strategic inputs from Mr. Satwinder Singh (Founder and Managing Partner).
We are thrilled to share that Aekom Legal has successfully implemented the scheme of amalgamation of nine companies into one company i.e. Digital Hub India Private Limited, New Delhi by securing approval of Hon’ble National Company Law Tribunal, New Delhi under section 230-232 of the Companies Act, 2013.
The team comprised Mr. Lokesh Dhyani (Partner), Ms. Ashima Jain (Principal Associate), Mr. Yash Jain (Associate) and Mr. Anmol Sharma (Associate).
Aekom Legal successfully completes fast-track merger assignment by securing approval from Ministry of Corporate Affairs under Companies Act, 2013 for a leading group engaged in business of eye-care services.
The team comprised Mr. NPS Chawla (Co-Founder and Joint Managing Partner), Mr. Lokesh Dhyani (Partner), Ms. Ashima Jain (Principal Associate), Mr. Yash Jain (Associate) and Mr. Anmol Sharma (Associate).
Aekom Legal is pleased to announce its pivotal role in acting as sole legal counsel for the restructuring of Resojet Private Limited into a 50:50 joint venture between Amber Enterprises India Limited (a listed entity) and LCGC Resolute Appliances LLP (a Radiant Group Company).
Our team comprised of Mr. Kalpit Khandelwal (Partner, M&A), Ms. Sayyeda Saniya (Associate, M&A) and Ms. Deepanshi Trivedi (Associate, M&A) with strategic inputs from Mr. Satwinder Singh (Founder & Managing Partner).
Aekom Legal has recently represented and advised a SRA in submitting a resolution plan of approximately INR 100 crores for Tamra Dhatu Udyog Pvt. Ltd. The SRA was also represented before the NCLT Kolkata & NCLAT and advised on litigation strategy by the AEKOM team.
The entire process of CIRP including the implementation of the plan, despite various rounds of litigations, was concluded within a period of 1 year 7 months from the date of commencement of CIRP.
Our team at Aekom Legal, led by Mr. NPS Chawla (Co-Founder and Joint Managing Partner), guiding the entire transaction for both litigation and corporate side, alongside Mr. Kalpit Khandelwal (Partner) chiefly involved in formalizing the plan and negotiations and Mr. Sujoy Datta (Partner, chief architect of litigation strategy, along with Ms. Sheetal Khandelwal, Mr. Vibhor Kapoor and Ms. Mahima Shekhawat were involved in the entire transaction and litigation.
Aekom Legal is pleased to announce its pivotal role in facilitating a significant transaction involving the investment of Euro 20.21 million for the acquisition of a 34.59% stake in the share capital of TITAGARH FIREMA S.P.A., an esteemed Italian company, by SHIVALIKS MERCANTILE PRIVATE LIMITED, a joint venture company between Sidwal Refrigeration Industries Ltd (subsidiary of Amber Enterprises) and Titagarh Rail Systems. Invitalia, the investment arm of the Italian Government, alongside this investment by Shivaliks, has also invested an amount of Euro 10,000,000 (Eur 10 Mn) in Titagarh Firema SpA.
Invitalia, the investment arm of Italian Government, alongside this investment by Shivaliks, has also invested an amount of Euro 10,000,000 (Eur 10 Mn) in Titagarh Firema SpA.
Our team at Aekom Legal, comprising Mr. Satwinder Singh (Founder & Managing Partner), Mr. Kalpit Khandelwal (Partner, M&A), Ms. Jaskiran Kaur (Senior Associate), and Ms. Sayyeda Saniya (Associate), were involved throughout the process, from negotiations to finalizing the investment agreement and other essential transaction documents.
Pleased to announce that Aekom Legal successfully represented RP before NCLAT against a challenge made under Section 29A(c) of IBC by Navayuga Engineering Private Limited
The team comprised of Mr. NPS Chawla (Co-Founder and joint Managing Partner), Mr. Sujoy Datta (Partner, Disputes Resolution), Mr. Vibhor Kapoor (Senior Associate, Disputes Resolution) and Mr. Aarsheya Sharda (Associate, Disputes Resolution).
Aekom Legal is pleased to announce its pivotal role in facilitating strategic collaboration between Amber Enterprises India Limited, through its latest venture Ascent Circuit (“Amber”), and Korea Circuit, a YoungPoong group company.
Our team comprising Mr. Kalpit Khandelwal (Partner, M&A), Mr. Kshitij Gupta (Senior Associate, M&A), Mr. Nirmal Baskaran (Associate, M&A) with strategic inputs from Mr. Satwinder Singh (Founder & Managing Partner) assisted Amber in navigate complexities and mitigate risks associated with the collaboration, safeguarding their interests and fostering a smooth partnership with Korea Circuit.
Pleased to share an update concerning an order secured by the team at Aekom Legal, which illustrates the scope of powers vested with an Arbitral Tribunal under Section 17 of the 1996 Act.
The team comprised of Mr. NPS Chawla (Co-Founder and Joint Managing Partner), Mr. Sujoy Datta (Partner, Disputes Resolution), Mr. Surekh Kant Baxy (Principal Associate) and Ms. Kinjal Goyal (Senior Associate).
Pleased to announce that Aekom Legal represented Amber Enterprises India Limited’s material subsidiary ILJIN ELECTRONICS (I) Pvt Ltd (An Amber Group Company) in its acquisition of majority stakes in Ascent Circuits Private Limited, a company engaged in PCB production, from its promoters.
The team comprised of Mr. Satwinder Singh (Founder & Managing Partner), Mr. Kalpit Khandelwal (Partner, M&A), Mr. Nirmal Baskaran (Associate, M&A) and Ms. Deepanshi Trivedi (Associate, M&A).
Thrilled to announce the successful completion of an amalgamation assignment between a Mauritius-based entity and an Indian telecom giant. Our meticulous approach navigated regulatory challenges, ensuring a seamless merger approved by the Hon’ble NCLT, Delhi Bench.
The team comprised Mr. Satwinder Singh (Founder and Managing Partner), Mr. NPS Chawla (Co-Founder and Joint Managing Partner), Mr. Lokesh Dhyani (Partner), Ms. Ashima Jain (Principal Associate), Mr. Yash Jain (Associate ) and Mr. Anmol Sharma (Associate)
Aekom Legal advises Amber Group company ILJIN Electronics (I) Pvt Ltd on INR 1,200 crore fundraise from ChrysCapital and Incred
Aekom Legal advised Amber Enterprises India Limited (Amber) and its material subsidiary, ILJIN Electronics (I) Pvt Ltd, on the execution of definitive agreements for a proposed fundraise of INR 1,200 crore from private equity funds ChrysCapital and InCred Asset Management & Alternative Investments along with their affiliates.
The fundraise is intended to drive Il Jin’s organic and inorganic growth in the electronics segment, further consolidating its market leadership.
The transaction underscores Aekom Legal’s expertise in managing complex, high-value fundraises and private equity transactions in the manufacturing and electronics sectors. The firm’s deep sectoral knowledge and solution-oriented approach were instrumental in ensuring the successful execution of the deal.
The transaction was led by Mr. Satwinder Singh (Founder and Managing Partner) and Mr. Kalpit Khandelwal (Partner), with key support from Mr. Nirmal Baskaran (Senior Associate), who advised Amber and Il Jin on all aspects, including drafting, reviewing, and negotiating the transaction documents with ChrysCapital and InCred Asset Management & Alternative Investments.
Aekom Legal acted for EVER Electronics Pvt Ltd (‘Transferor’) and ILJIN Electronics (I) Pvt Ltd (‘Transferee’) in their merger, structured under a Scheme of Amalgamation (‘Scheme’) approved by the Hon’ble National Company Law Tribunal (‘NCLT’), Mumbai Bench. The transaction involved consolidation of two Amber Group India entities engaged in the assembly of Printed Circuit Boards (PCBAs) for various industries.
Pursuant to directions from the Hon’ble NCLT, Mumbai the stakeholder meetings were convened, wherein the scheme received requisite majority approval. Aekom Legal was instrumental in drafting the scheme, filing the first and second motion applications and liaising with statutory authorities. The Hon’ble NCLT subsequently sanctioned the scheme, marking the successful completion of the amalgamation.
Our dedicated team includes Mr. Satwinder Singh (Founder & Managing Partner) along with Mr. Lokesh Dhyani (Partner, General Corporate & Restructuring) , Ms. Ashima Jain (Principal Associate, Corporate Restructuring), Mr. Yash Jain (Senior Associate, Corporate Restructuring) and Ms. Gouri Mittal (Associate, Corporate Restructuring).
Aekom Legal advised ILJIN Electronics (I) Pvt Ltd, a material subsidiary of Amber Enterprises India Limited, listed on BSE and NSE on a strategic cross-border acquisition involving the purchase of approximately 40.24% of the share capital of Unitronics, a company listed on the Tel Aviv Stock Exchange, from the existing controlling shareholders, namely FIMI Opportunity Funds, a leading private equity firm and Mr. Haim Shani.
Founded in 1989, Unitronics is a global provider of industrial automation and control systems, including PLCs, HMIs, integrated solutions, VFDs, Servo Drives, and SaaS platforms like UniCloud. With strong US and European market presence, it reported a turnover of ~USD 57 million in calendar year 2024, ~30% EBITDA margins, and a market cap of ~USD 110 million. The acquisition aligns with Amber Group’s strategy to expand its electronics division and drive synergies through backward integration and innovation across global markets.
Our team at Aekom Legal, comprised of Mr. Satwinder Singh (Founder & Managing Partner), Mr. Kalpit Khandelwal (Partner, M&A), Mr. Lokesh Dhyani (Partner, Regulatory Affairs and Restructuring), and Ms. Sayyeda Saniya (Senior Associate, M&A).
Aekom Legal acted as the legal advisor in connection with the strategic joint venture between Intec Corporation, a market leader in the manufacture of HVAC systems for railways in India, and HNTENC Co. Ltd., a prominent South Korean company engaged in the manufacture of air conditioning equipment.
The joint venture has been established with the objective of executing SITC (Supply, Installation, Testing & Commissioning) contracts for Korean automobile manufacturers in India. The partnership brings together Intec’s extensive local manufacturing expertise and HNTENC’s advanced global engineering capabilities to cater to the growing demand for HVAC systems and related infrastructure in the Indian market.
Aekom Legal advised on the entire transaction lifecycle, including the structuring of the joint venture arrangement, taking into account technical collaboration, commercial alignment, and governance terms. The firm also advised on foreign investment regulatory considerations, including FEMA advisory, and assisted with the incorporation of the joint venture entity and the related regulatory and post-incorporation compliance. The team played a key role in the negotiation and finalization of the joint venture agreement, along with other related commercial and technical documentation.
The transaction was led by Satwinder Singh (Managing Partner), with support from Kalpit Khandelwal (Partner – Mergers and Acquisitions), Lokesh Dhyani (Partner- Regulatory Affairs and Restructuring) along with his team and Sayyeda Saniya (Senior Associate – Mergers and Acquisitions).
Aekom Legal is pleased to have advised and assisted Hale Med Private Limited in the sale of its entire 100% shareholding in Halemed Medical Private Limited (“Halemed Medical”) to INTEGRIS Health Private Limited (“Integris”).
Halemed Medical is engaged in the manufacturing of a wide range of medical equipment. Integris, backed by leading private equity firm Everstone Capital, is the holding company of Translumina Therapeutics, a prominent manufacturer of cutting-edge cardiac stents and advanced cardiovascular medical devices.
The deal team, comprising Mr. Satwinder Singh (Founder and Managing Partner), Mr. Kalpit Khandelwal (Partner) and Mr. Nirmal Baskaran (Senior Associate), advised the shareholders of Halemed Medical on all aspects of the transaction, including drafting, negotiating, and finalising the definitive agreements, as well as supporting in the successful completion and closing of the deal. The transaction highlights Aekom Legal’s expertise in strategic healthcare M&A and its continued role in advising clients across high-growth, innovation-driven sectors.
Aekom Legal successfully advised Sterling Tools Limited (“STL”) in the merger of its wholly owned subsidiary, Haryana Ispat Private Limited. The shares of STL are listed on the National Stock Exchange of India Ltd. and BSE Limited. STL is a leading manufacturer and supplier of high-tensile cold-forged fasteners, serving major automotive companies across India, Europe, and the USA.
The Hon’ble National Company Law Tribunal, New Delhi Bench (“NCLT, Delhi”) approved the merger, recognising that meetings of shareholders and creditors should not be convened as it involves a merger of a wholly owned subsidiary into its holding company and all queries of statutory authorities were also addressed and the scheme also got approved only on the verbal no objection by the income tax authority.
Our dedicated team includes Mr. Satwinder Singh (Founder & Managing Partner) along with Mr. Lokesh Dhyani (Partner, General Corporate & Restructuring) , Ms. Ashima Jain (Principal Associate, Corporate Restructuring), Mr. Yash Jain (Senior Associate, Corporate Restructuring) and Ms. Gouri Mittal (Associate, Corporate Restructuring).
Aekom Legal successfully advised Global health limited (“GHL”) in the merger of its wholly owned subsidiary, Medanta Holdings Private Limited. The shares of GHL are listed on the NSE India and BSEIndia. GHL is carrying the business of running hospitals under the brand name of Medanta.
The assignment involved evaluation of different aspects involved in the proposed consolidation exercise, implementation of scheme of amalgamation under Sections 230-232 of the Companies Act, 2013, including but not limited to drafting and filing of petitions along with requisite documents, attending hearings, convening of meetings of the equity shareholders and creditors, addressing the queries of the regulatory authorities, and getting the Scheme approved from Hon’ble NCLT.
Our dedicated team includes Mr. Satwinder Singh (Founder & Managing Partner) along with Mr. Lokesh Dhyani (Partner, General Corporate & Restructuring) , Ms. Ashima Jain (Principal Associate, Corporate Restructuring), Mr. Yash Jain (Senior Associate, Corporate Restructuring) and Ms. Gouri Mittal (Associate, Corporate Restructuring)
Aekom Legal successfully represented a Lemon Tree Group company in arbitration proceedings before an Arbitral Tribunal comprising of a retired Supreme Court judge. The dispute arose from a Lease Deed, where the Claimant, the lessee, sought a refund of its interest-free refundable security deposit, following termination due to force majeure conditions caused by the COVID-19 pandemic.
The Ld. Arbitral Tribunal upheld Lemontree’s claims holding:
(a) Covid-19 was a force majeure condition which rendered the hotel entirely non-operational;
(b) Utilisation of hotel as paid Quarantine Facility did not come within the meaning of “operation as hotel”, and hence the contractual threshold for force majeure of being unable to operate the premises for a continued period of 90 days was met;
(c) That no set-off of the monthly rent was merited from the retained security deposit for the months when the Respondents did not accept possession of the property after termination by the Claimant, for the months when no commercial operations were actually run on the premises due to lockdown.
(d) There would be deemed admission of facts which the Respondent / Counter Claimant failed to cross examine Claimant witnesses on.
The Respondents were directed to refund the security deposit along with pre-reference, pendente lite and future interest along with costs. The Arbitral Tribunal dismissed the counter claims of the Respondent for rent, damages, and repairs.
Our dedicated team includes Mr. NPS Chawla (Co-founder & Joint Managing Partner), Mr. Sujoy Datta (Partner, Dispute Resolution), Ms. Nishtha Khurana (Principal Associate, Dispute Resolution) and Ms. Mahima Shekhawat (Senior Associate, Dispute Resolution) whose meticulous legal research, detailed factual and evidentiary analysis, and strategic litigation approach played a crucial role in successfully establishing the Claimant’s entitlement to the refund and associated claims.
This award reinforces the importance of force majeure protections in commercial leases, including and specifically in the hospitality sector.
Aekom Legal is proud to share about approval of the Resolution Plan of ATHENA DEMWE POWER LIMITED by NCLT Delhi wherein we acted as the Counsel for the Resolution Professional.
It’s one of the rare Resolution Plans where there are no hair cuts and the preamble of the Code was followed in letter & spirit by distributing resolution plan value to all stakeholders including old promoters/shareholders.
An article covering the matter handled by Aekom Legal was published in The Economic Times with quote from our Joint Managing Partner – Mr. NPS Chawla.
Compliments to the team spearheaded by our Managing Partner – Mr. Satwinder Singh, Jt. Managing Partner – Mr. NPS Chawla, Partner- Mr. Sujoy Datta, Principal Associate – Mr. Vibhor Kapoor and Senior Associate – Mr. Aarsheya Sharda.
In a landmark decision in the case of Ferrero India Private Limited, the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench, addressed a pivotal issue regarding the interplay between buy-back of shares and reduction of share capital provisions. While adjudicating an application for share capital reduction, the NCLT, being satisfied with the contentions raised by Petitioners, took a different view than what was suggested by the Regional Director, who had contended, that the application under Section 66 should not be used to bypass restrictions imposed in section 68 of the Companies Act, 2013.
The Hon’ble NCLT clarified that a company is entitled to undertake a reduction of its share capital under Section 66 of the Companies Act, 2013, regardless of its compliance with the conditions stipulated under Section 68, which governs buy-back of shares. The Tribunal emphasized that the provisions of Section 66 and Section 68 operate independently and serve distinct purposes.
Furthermore, the NCLT highlighted that a company must adhere to all statutory requirements under Section 66 when reducing its share capital. This includes safeguarding the interests of creditors, complying with procedural mandates, and fulfilling all other statutory obligations to ensure the reduction is lawful and equitable.
The matter was extensively argued by Mr. Satwinder Singh, Founder & Managing Partner of Aekom Legal, assisted by Mr. Lokesh Dhyani, Partner, and Mr. Lakshit Pant, Associate, who were able to successfully demonstrate the independence of the two statutory provisions and secured the approval of the reduction petition.
Aekom Legal acted for Il Jin Electronics (I)PrivateLimited, a material subsidiary of Amber Enterprises India Limited, in its proposed joint venture with Korea Circuit Co Ltd (KCC), a YoungPoong group co.. Under this joint venture, Il Jin would own 70% stake while KCC would own the remaining 30%.
Through the proposed joint venture, the JV partners aim to establish a state-of-the-art facility in India for advanced manufacturing of HDI, flex and semiconductor substrate printed circuit boards for a wide range of electronic products.
The deal team at Aekom Legal comprised Mr. Satwinder Singh (Founder and Managing Partner), Mr. Kalpit Khandelwal (Partner, M&A), with support from Mr. Nirmal Baskaran (Senior Associate, M&A) and Ms. Deepanshi Trivedi (Associate, M&A).
Aekom Legal played a pivotal role in advising and representing DMG Finance and Investments Private Limited (“DMG”) in the dissolution of its joint venture with Actia Automotive S.A. (France), an ACTIA Group entity.
In 2004, DMG and Actia France formed a joint venture in India named Actia India Private Limited. However, the parties have now mutually agreed to dissolve the joint venture as part of a settlement of certain issues, with DMG purchasing all the shares of Actia India previously held by Actia Automotive S.A. and the word “”Actia”” being removed from the name, domain, and email ID of the joint venture company.
Our team comprised of Mr. Kalpit Khandelwal (Partner, M&A), Ms. Sayyeda Saniya (Senior Associate), and Ms. Deepanshi Trivedi (Associate).
We are thrilled to share that Aekom Legal has successfully implemented the scheme of amalgamation of group entities into one company i.e. SAKSHAM CONTAINERS PRIVATE LIMITED, by securing approval of Hon’ble National Company Law Tribunal, New Delhi under section 230-232 of the Companies Act, 2013.
The team comprised Mr. Lokesh Dhyani (Partner), Ms. Ashima Jain (Principal Associate), Mr. Yash Jain (Associate) and Mr. Anmol Sharma (Associate) with strategic inputs from Mr. Satwinder Singh (Founder and Managing Partner).
We are thrilled to share that Aekom Legal stood as sole counsel before the Hon’ble National Company Law Tribunal, New Delhi Bench in first motion application of the scheme of amalgamation between HARYANA ISPAT PRIVATE LIMITED and Sterling Tools Limited .
Despite the absence of consent affidavits from the shareholders and creditors of the Applicants, the Hon’ble Tribunal relying upon erstwhile judgments from various courts and tribunals, dispensed the need for meetings among shareholders and creditors of the Applicant Companies based on following key factors:
-The scheme involves merging a wholly owned subsidiary into its holding company.
-No issuance of new shares is planned.
-There is no compromise with stakeholders.
-The post-amalgamation net worth of the merged company is highly positive.
Mr. Lokesh Dhyani | Ms. Ashima Jain | Mr. Yash Jain
Aekom Legal Legal has recently represented a leading manufacturer of bottles and distributor of beverages in a revision petition filed against the order passed by the Collector of Stamps (HQ), Government of National Capital of Delhi, imposing penalty on the company for the delay in paying the stamp duty on issuance of equity shares.
The said matter was represented before the Hon’ble Chief Controlling Revenue Authority (“CCRA”), Government of National Capital of Delhi and Aekom Legal secured an order from the Hon’ble CCRA inter alia reducing the penalty imposed by Collector of Stamps.
The team at Aekom Legal involved comprised of Mr. Lokesh Dhyani (Partner), Ms. Ashima Jain (Principal Associate) and Mr. Anmol Sharma (Associate).
The team comprised Mr. Satwinder Singh (Founder and Managing Partner), Mr. NPS Chawla (Co-Founder and Joint Managing Partner), Mr. Lokesh Dhyani (Partner), Ms. Ashima Jain (Principal Associate) and Ms. Priyal Singh (Associate).
Aekom Legal is representing a leading FMCG Company in its appeal before the Hon’ble NCLAT, where notice has been issued on an important question relating to the Insolvency and Bankruptcy Code 2016 remains yet unresolved by judicial precedent- whether the cooperation to be given to “authority investigating an offence” under Section 32A, would also apply to banks/NBFC/FIs? Would its ambit cover forensic audits commissioned by lenders for the pre-CIRP period?
Aekom Legal successfully represented Patanjali Ayurved Limited and secured an order by NCLT Mumbai allowing its plan, submitted after expiry of stipulated time period, to be considered by the Committee of Creditors of Rolta India Limited.
Pleased to announce that Aekom Legal represented medical practitioners and promoters in the sale and transfer of stakes in a hospital-owning company.
The team comprised of Mr. Satwinder Singh (Founder & Managing Partner), Mr. NPS Chawla (Co-Founder & Joint Managing Partner), Mr. Sujoy Datta (Partner, Disputes Resolutions), Mr. Kalpit Khandelwal (Partner, M&A) and Ms. Nishtha Khurana (Principal Associate, Dispute Resolution).
Pleased to announce that Aekom Legal advised Ginni Filaments Limited, a public listed company, in relation to transfer of the spinning, knitting and processing undertaking through a slump sale to RSWM Limited, also a public listed entity. The deal was valued at a lump sum consideration of INR 160 crores.
Our team comprising Mr. Kalpit Khandelwal (Partner, M&A), Mr. Kshitij Gupta (Senior Associate, M&A) and Ms. Deepanshi Trivedi (Associate, M&A) with strategic inputs from Mr. Satwinder Singh (Founder & Managing Partner) assisted Ginni Filaments Limited in assistance in drafting and negotiating the Business Transfer Agreement and associated agreements.
Aekom Legal advised Sidwal Refrigeration Industries Ltd, a wholly owned material subsidiary of Amber Enterprises India Limited, in the establishment of a transformative strategic alliance with Titagarh, which is set to venture into the train components and subsystems business in both India and overseas through a strategic joint venture/SPV. Under the pact, both parties will invest up to Rs 120 crore each to acquire equal control in the SPV for setting up the new railway component business as well as fresh equity investment in Firema, Italy
Sidwal Refrigeration Industries Ltd, an Amber group company, has emerged as a leader in the train and metro air conditioner market, demonstrating additional prowess through a technology licensing agreement with the Ultimate group for the manufacturing of passenger coach doors and gangways.
Titagarh, a leader in the railway rolling stock space for both freight and passenger rolling stock, is currently spearheading prestigious projects such as Vande Bharat trains, Surat metro, and Ahmedabad metro etc.
This strategic alliance not only symbolizes the fusion of two industry leaders but also exemplifies a shared commitment to innovation, excellence, and global expansion.
Our team comprised of Mr. Satwinder Singh , Mr. Kalpit Khandelwal, Ms. Jaskiran Kaur and Ms. Sayyeda Saniya advised Sidwal Refrigeration Industries Ltd on structuring of the JV, a critical aspect of this transaction, and conducting due diligence, negotiation and drafting of transaction
Pleased to announce that Aekom Legal represented group of medical practitioners and promoters of Kastura Medical Private Limited in structuring and acquisition of a super speciality hospital in Delhi NCR Region.
The team comprised of Mr. Satwinder Singh (Founder & Managing Partner), Mr. Sujoy Datta (Partner, Disputes Resolution), Mr. Lokesh Dhyani (Partner, General Corporate & Regulatory Affairs), Mr. Aarsheya Sharda (Associate, Dispute Resolution) and Mr. Sourabh Gupta (Associate, General Corporate).
Pleased to announce the successful completion of the voluntary liquidation of the company owned by a Japanese-based company.
Mr. Lokesh Dhyani (Partner), skillfully led the matter, supported by Ms. Ashima Jain (Principal Associate), and Mr. Sourabh Gupta (Associate), showcasing a collaborative and proficient approach to achieving favorable results.
Pleased to announce that Aekom Legal acted as sole legal counsel to a Patanjali Ayurved Limited group company in respect of its acquisition of Sathyam Green Power, a company engaged in biomass power plant operations in Rajasthan, from Focal Energy, a foreign company.
The team comprised of Mr. Kalpit Khandelwal (Partner, M&A), Mr. Nirmal Baskaran (Associate, M&A), and Ms. Deepanshi Trivedi (Associate, M&A)
Aekom Legal successfully represented a leading EPC contractor in a petition filed against NTPC under Section 9 of the Arbitration and Conciliation Act 1996, seeking stay on encashment of Contract Performance Guarantee and Bid Security Bank Guarantee in respect of a contract that had been descoped by NTPC. The Hon’ble High Court of Delhi enjoined NTPC from encashing the said guarantees, and noting that there is no objection to existence of arbitration agreement, also appointed the Arbitral Tribunal and directed for the petition to be treated as a petition under Section 17 of the Act.
The team comprised of Mr. NPS Chawla (Co-Founder & Joint Managing Partner), Mr. Sujoy Datta (Partner- Dispute Resolution) and Mr. Surekh Kant Baxy (Principal Associate).
