“The country’s leading packaged consumer goods major, Patanjali Ayurved, won the approval to take over edible oil firm Ruchi Soya on Tuesday. The committee of creditors (CoC) of the debt-laden firm voted in favour of Patanjali Ayurved’s Rs 4,350-crore bid,” reported Business Standard about the insolvency M&A deal.
Vaish Associates Advocates advised Patanjali Ayurved Limited led by a team of partner Satwinder Singh, associate partners NPS Chawla and Melvyn Fernandes and supported by principal associate Kalpit Khandelwal, senior associate Kaustubh Prakash and associate Pratiksha Agrawal. The competition team was led by head competition law and policy, partner MM Sharma and supported by senior associate Anand Sree.
Update 08 May 2019: Athena Legal also advised Patanjali Ayurved Limited, led by partner Siddharth Mahajan, designate partner Simranjeet Singh, and principal associate designate Rohan Ahuja.
L&L Partners represented and advised the committee of creditors of Ruchi Soya Industries Limited, led by senior partner Vijay Sondhi, partner Bikash Jhawar, partner Nakul Sachdeva and managing associate Avinash Subramanian.
Cyril Amarchand Mangaldas represented and advised the resolution professional of Ruchi Soya, led by partner Dhananjay Kumar, associate Hamraj Singh and associate Annie Jain.
Deal Dated: 2019-05-01
Deal value: 4350 crores