Khaitan & Co advised Gokaldas Exports Ltd (“GEL”) on the amalgamation of BRFL Textile Pvt. Ltd. (“BTPL”) with GEL.
The leading law firm in India, Khaitan & Co, advised Gokaldas Exports Ltd (“GEL”) in relation to the amalgamation of BRFL Textile Pvt. Ltd. (“BTPL”) with GEL.
Following its strategic investment in BTPL, GEL’s board approved the amalgamation to create 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 the following consideration options for BTPL shareholders:
- Equity in GEL
- A combination of cash and equity in GEL
Shareholders of BTPL may choose between the two options.
The Khaitan & Co team included 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).
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