Khaitan & Co advised Texmaco Rail & Engineering Ltd (TREL) in relation to a joint venture arrangement between TREL and Rail Vikas Nigam Ltd (RVNL), with TREL and RVNL holding a 49:51 stake respectively. This joint venture has been formed between the parties to boost India’s rail manufacturing capabilities for development of India’s next-generation rolling stock viz. freight, locomotive, passenger, and metro systems and to increase India’s footprint in global railway infrastructure market.
TREL is inter-alia engaged in the business of designing, engineering, manufacturing and selling of railway wagons, coaches, locomotives (together with its components) and execution of railway infrastructure projects.
RVNL is a premier central public sector undertaking (PSU) under the direct administrative control of the Government of India and is an engineering and project execution company engaged in the development of railway infrastructure across India.
The firm acted as the legal counsel to the TREL and advised and assisted them on structuring of the transaction and drafting, negotiation, finalisation and execution of definitive agreements relating to the transaction.
The core team consisted of Shourya Sengupta (Partner), Supallab Chakraborty (Senior Associate) and Joysurjo Roy (Associate).
Corporate and M&A: Haigreve Khaitan (Senior Partner)