Shardul Amarchand Mangaldas & Co. Successfully Represents Ashok Leyland and Hinduja Foundries before CCI

Shardul Amarchand Mangaldas & Co. successfully represented Ashok Leyland Limited (ALL) and Hinduja Foundries Limited (HFL) before the Competition Commission of India in relation amalgamation of HFL into ALL, under a scheme of arrangement. Both the companies are a part of the Hinduja Group. Since the proposed transaction was filed pursuant to a scheme, it is not possible to ascertain the exact value of the deal.

The proposed merger was filed pursuant to the approval of the Board Resolution dated 14 September, 2016. The Board of Directors of Ashok Leyland and HFL approved a scheme of amalgamation under Section 391 – 394 of the Companies Act, 1956. 

The Competition Law Team of Shardul Amarchand Mangaldas & Co. advised on filing Form I notification with the Competition Commission of India and obtaining unconditional approval of the CCI. The team was led by Ms. Aparna Mehra, Partner and included Mr. Vivek Agarwal, Senior Associate and Mr. Toshit Shandilya, Associate.

The deal was signed on 14, September 2016 and is likely to close in third Quarter of 2017

About Shardul Amarchand Mangaldas & Co.

Founded in 2015, Shardul Amarchand Mangaldas & Co., is one of India’s leading law firms rated by International organisations, law directories and professional journals. As a full service law firm, it is renowned in the business community for its ability to enable business, its innovative solutions, its responsiveness and collaboration with its clients. The Firm continues its journey as “a young and wise firm” with a legacy of 99 years.

The Firm has over 430 lawyers, including 87 Partners, offering legal services through its offices at New Delhi, Mumbai, Gurgaon, Ahmedabad, Kolkata, Bangalore and Chennai.