Khaitan & Co advised and represented Tomcar Holding Company LLC on its joint venture with JSW Sarbloh Motors Pvt Ltd to manufacture and assemble the Tomcar TX range of tactical all-terrain vehicles (ATVs) in India, with a focus to cater to Indian defence requirements and also supply the products to other left-hand drive and right-hand drive markets in Asia and beyond.
Tomcar's TX series is known for its durability, safety, and adaptability in extreme conditions and these ATVs are designed for military, commercial, and industrial operations, including border patrol, counterinsurgency, and logistics in challenging terrains.
Tomcar will hold 30% of the shareholding in the proposed joint venture company while JSW Sarbloh will hold 70% of the shareholding. Tomcar is also the technology partner of the JV and will license its technology to the JV for manufacturing ATVs or uncrewed systems category vehicles.
The deal was assisted by:
Intellectual Property: Nirupam Lodha (Partner), Shivangi Narang (Principal Associate), and Gautam Wadhwa (Senior Associate).
Defence sector advice: Kabir Bogra (Partner) and Raarah Gurjar (Principal Associate).
Direct Tax: Shaily Gupta (Partner) and Bharat Jain (Principal Associate).
The core team consisted of Bharat Anand (Senior Partner), Tanvi Kumar (Partner), Nimisha Trehan (Partner) and Nipun Laroia (Associate).