AZB & Partners advised on sale of Punj Lloyd to Adani Infra
The leading law firm in India AZB & Partners advised Mr. Ashwini Mehra, the liquidator of Punj Lloyd Limited (PLL), along with the transaction advisor, Grant Thornton Bharat LLP, in the successful sale of PLL as a going concern to Adani Infra (India) Limited.
This transaction marks a significant milestone, being one of the last instances where a company has been liquidated on a ‘going concern’ basis in light of recent reforms to India’s insolvency laws.
The AZB & Partners deal team was led by Avinash Subramanian (Partner), with support from Jay Kothari (Senior Associate) and Aashirwa Baburaj (Associate).
The litigation team was led by Dr. Dhirajkumar Totala, Parag Maini and Dr. Abhimanyu Chopra (Partners), with support from Raghav Chadha (Counsel), Akash Manwani, Aman Chaudhary, Mukund Rawat, Harsha Uppal and Sayali Sawant (Senior Associates), and Rajveer Veera (Associate).
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