Khaitan & Co advised The Indian Hotels Company Ltd (IHCL) on sale of its entire shareholding in TajGVK Hotels and Resorts Ltd, being 25.52% of the paid up share capital of TajGVK Hotels and Resorts Ltd, to Mrs. Shalini Bhupal (a member of the promoter group of TajGVK).
The consummation of the share sale also resulted in termination of the Shareholders' Agreement of TajGVK and Name and License Agreement between IHCL and TajGVK. IHCL will continue to manage the currently operational 6 TajGVK portfolio hotels along with the upcoming hotel in Yelahanka, Bengaluru.
The core team consisted of Haigreve Khaitan (Senior Partner), Arindam Ghosh (Partner), Nikhilesh Panchal (Partner), Raj Panchmatia (Partner), Jimmy Bhatt (Partner), Peshwan Jehangir (Partner), Anvita Mishra (Counsel), Kevin Shah (Counsel), Yash Chokshi (Counsel), Gaurang Mansinghka (Senior Associate), Roselin Sara Alex (Senior Associate), Yash Bhagwat (Senior Associate) and Krithika Kataria (Associate).