Direct Tax

Khaitan & Co advised Concept Hospitality Private Limited (CHPL) on the signing of definitive documents with a group company of Marriott International, Inc. (Marriott), to enter into a strategic partnership with Marriott, whereby CHPL’s flagship brand of hotels – The Fern, The Fern Residency and The Fern Habitat – will be affiliated with Marriott’s newly launched regional collection brand – ‘Series by Marriott™’.  Marriott has also agreed to make a small equity investment in CHPL.

Khaitan & Co advised Torrent Pharmaceuticals Ltd on its proposed acquisition of a stake in J.B. Pharma from KKR, valuing J.B. Pharma at INR 25,689 crores. The deal includes acquisition of KKR’s 46.39% stake in J.B. Pharma for INR 11,917 crores, an open offer for acquisition of up to 26% stake of J.B. Pharma, a potential 2.80% stake purchase from certain employees and a proposed merger of J.B. Pharma with Torrent. 

Khaitan & Co advised SLK Software Pvt Ltd (“SLK”) and its promoters on its acquisition by TPG backed Altimetrik. The transaction closure is subject to customary conditions. 

The Firm advised on the deal structuring process, vendor legal due diligence, drafting, negotiation and finalization of definitive documents.

Khaitan & Co advised and assisted IFB Agro Industries Ltd on the proposed acquisition of the entire commercial compound shrimp feed and freshwater fish feed business of Cargill India Pvt Ltd as a going concern on a slump sale basis, along with its manufacturing facilities located at Vijayawada and Rajahmundry in Andhra Pradesh, subject to the terms of the definitive agreements.

Khaitan & Co advised Deserve India on its India-level restructuring and the transfer of assets, from Deserve India to Intuit India. This transaction was part of a larger global acquisition where Intuit Inc., an American multinational fintech company, acquired key technology from Deserve, Inc., a mobile-first credit card platform.