Ace Group Launches Loan Free Pay-On Possession Plan to Serve Homebuyers During COVID-19 Crisis

With an aim to reenergize sales and most importantly to serve its valued customers amid the continuing COVID-19…

With an aim to reenergize sales and most importantly to serve its valued customers amid the continuing COVID-19 pandemic, realty major Ace Group has announced a convenient and discounted payment plan in its ultra luxury residential project ‘Ace Parkway’ located at Sector-150, Noida, the greenest residential hotspot of Delhi-NCR.

Ace Parkway

Ace Group has come up with a Loan Free Pay-On Possession Payment Plan: Pay just 15% in 60 days and rest on possession of your dream home at ‘ACE Parkway’ that promises CAREFREE Living: From Office Work to Workouts to Family Time – do everything in your carefree world, your home.

Ace Group is interacting with its clients through online means of communication apart from giving them online presentations. All these efforts of Ace Group have resulted in a very positive response and successful sales in excellent numbers

Mr. Ajay Chaudhary, CMD, Ace Group said, “Committed to serving our valued customers in the most innovative way, we have launched a Loan Free Pay-On Possession Payment Plan in our project ‘ACE Parkway’ to serve our customers, besides conducting virtual tours and other technology-driven initiatives to counter the effects of COVID-19 pandemic that has disrupted all activities. Let us not let the spirit down, rather we have to continue and develop the habit of living with this pandemic and continue to support the economy while following all corona protocols.”

Nestled in the lap of luxury along Noida Expressway, Ace Parkway encompasses spacious two, three and four BHK apartments exclusively designed by the most famous celebrity designer and film producer Gauri Khan. While its interiors exemplify modern luxurious designs, the much acclaimed project also boasts all the modern comforts and decorum, besides enjoying excellent connectivity. Ace Parkway presents its residents one-of-a-kind opportunity to avail 51 sports facilities ranging from croquet, squash, trampoline to handball, tennis other than basketball, badminton and cricket to spend their leisure time enjoying and relaxing.

Ace Parkway is a classic living destination for luxurious, ingenious and most importantly peaceful living with abundance of facilities to revive and rejuvenate your senses. The much desired project presents aesthetically beautiful and spacious apartments with lavish features and amenities. Besides other state-of-the-art amenities, Ace Parkway also includes an ecstatic pool equipped with temperature control that would allow access to swimming at any time. Moreover, it offers indoor pool for all residents, a cosmopolitan club house and a mesmerizing view amidst beauty of flowing water surrounded by ample greenery which in a nutshell brings a serene setting with a beautiful cascade soothing to the senses.

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Cyril Amarchand Mangaldas Advises Axis Bank on Acquisition of up to 30% Stake in Max Life

Cyril Amarchand Mangaldas advised Axis Bank Limited (Axis Bank) on acquisition of up to 30% stake in Max Life Insurance Company Limited (Max Life) from Max Financial Services Limited (Max Financial) by way of a secondary transfer of shares. For the acquisition, Axis Bank, Max Financial, and Max Life executed a share purchase agreement on April 27, 2020.

The General Corporate, Capital Markets, Competition Law and Taxation Practices of Cyril Amarchand Mangaldas advised on the Transaction.

  • The Transaction Team was led by Yash Ashar, Partner; and Indranath Bishnu, Partner; with support from Pranjita Barman, Principal Associate; Soumyadipta Chanda, Principal Associate; Anirud Sudarsan R, Associate; and Viraj Dhurrin, Associate.

  • The Capital Markets Advisory team was led by Gokul Rajan, Partner; with support from Aashima Johur, Principal Associate Designate.

  • The Competition Advisory team was led by Anshuman Sakle, Partner; with support from Kaustav Kundu, Principal Associate; and Shreya Joshi, Associate.

  • The Corporate Due Diligence team was led by Indranath Bishnu, Partner, with support from Soumyadipta Chanda, Principal Associate; Viraj Dhuri, Associate; Anirud Sudarsan R, Associate; and Soumyaditya Dasgupta, Associate.

  • The Tax Due Diligence team was led by Daksha Baxi, Head - International Taxation; Mekhla Anand, Partner; and Kunal Savani, Director; with support from Shiladitya Dash, Senior Associate; Bipluv Jhingan, Associate; and Jesika Babel, Associate

  • The Corporate Secretarial Team that assisted in preparing the RoC search report involved Manik Makwana, Senior executive - corporate secretarial services; Mihir Sangani, Executive - corporate secretarial services; Charmi Sanghvi, Executive - corporate secretarial services; Rasika Bharadkar, Executive - corporate secretarial services; and Shikha Mody, Executive - corporate secretarial services.

As a part of the Transaction, Axis Bank, Max Financial, Max Life, Mr. Analjit Singh, Max Ventures Investment Holding Private Limited (Max Ventures), and Mitsui Sumitomo Insurance Company Limited (MSI) entered into a shareholders agreement to record the inter se rights and obligations of the aforesaid parties.

The completion of the Transaction is subject to approval of the Insurance Regulatory Development Authority of India (IRDAI), Reserve Bank of India (RBI) and Competition Commission of India (CCI).

Cyril Amarchand Mangaldas takes forward the values going back 103 years, of the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co., whose pre-eminence, experience and reputation of almost a century has been unparalleled in the Indian legal fraternity. Tracing its professional lineage to 1917, the Firm of Cyril Amarchand Mangaldas is now the largest full-service law firm in India, with over 750 lawyers including over 130 partners, and offices in India's key business centres at Mumbai, New Delhi, Bengaluru, Hyderabad, Chennai and Ahmedabad. The Firm advises a large, and varied client base that includes domestic and foreign commercial enterprises, financial institutions, private equity funds, venture capital funds, start-ups and governmental and regulatory bodies.

The firm, Cyril Amarchand Mangaldas, was awarded recently awarded with "India - Firm of the Year" at the AsiaLaw Regional Awards 2019 and "India Deal Firm of the Year" at the In-House Community Counsels of the Year Awards 2019. The firm was also named as the "Most Innovative National Law Firm of the Year - India for 2018" at the IFLR Asia Awards, having also been successful in winning the prestigious & coveted "National Law Firm of the Year, 2018 for India" at the Chambers Asia-Pacific Awards. The firm was also voted as the "Employer of Choice for 2018" from India, by the Asian Legal Business, now 4 years in a row, building upon the several awards that the erstwhile Amarchand & Mangaldas & Suresh A. Shroff & Co. had won in the past.

Sany Donates 1 Lakh N95 Masks & 5 Lakh 3 Ply Masks to Govt of Maharashtra through MIDC

Supporting the Government of Maharashtra in its fight against the COVID, Sany, a leading manufacturer of construction, mining & material handling equipment, heavy machinery and renewable energy solutions donated 1 lakh N95 masks & 5 Lakh 3 Ply Masks to Government of Maharashtra through MIDC. Mr. Deepak Garg, Managing Director, Sany South Asia & Sany India handed over the masks to Shri Rajesh Tope, Minister for Public Health & Family Welfare, Government of Maharashtra. Sany has been in the forefront in helping people during the lockdown by donating masks & PPE kits to various hospitals and people who have been working at the construction sites. Sany also provided food ration to the needy families who were affected due to the lockdown.

(Left to Right): Shri Rajesh Tope, Minister for Public Health & Family Welfare, Govt. of Maharashtra & Mr. Deepak Garg, Managing Director, Sany South Asia & India

Mr. Deepak Garg said, "We firmly believe that the fight against COVID should be a combined effort of the government, corporate houses/industries, healthcare professionals and the citizens in general. Within the company, we are adhering to all possible measures to ensure the safety of all our employees and stakeholders." Speaking about this initiative, he further added, "As a socially conscious company, we have taken this small but significant step in providing the N95 masks with an intention of keeping our corona warriors i.e. our doctors, nurses, paramedic staff, district administrators and police personnel safe from this deadly virus. I also need to applaud the commendable efforts taken by the health ministry in combating COVID. I sincerely hope that we become a corona free country soon."

Honorable Shri Rajesh Tope, minister of state for Public Health & Family Welfare, Government of Maharashtra thanked Sany for the donation of masks and advised Sany to keep doing such activities for the betterment of people of India.

Dr. P. Anbalagan, (IAS), CEO of MIDC said, "It's really commendable to see that companies like Sany stand united with us in our fight against this invisible enemy. By providing the N95 and 3 Ply Masks, they have helped the real life warriors who are in the frontline and vulnerable to this deadly virus. As far as protective measures are concerned, it is critical to maintain the constant supply of masks and PPE kits to ensure the safety of our frontline workers. Having said that, I urge more companies to come forward and lend their support in whatsoever way possible."

Mr. Subhedar, Joint CEO of MIDC, said, "With the entire country living under the threat of this fast spreading virus, the need of the hour is to follow preventive measures like wearing a mask. This becomes mandatory for our corona warriors who are more vulnerable in contracting COVID-19. Sany's gesture of providing masks will go a long way in keeping our corona warriors safe and healthy."

Sany has adopted a number of initiatives, both online and offline to promote a healthy and safe atmosphere for their employees. Offline measures like work from home and onsite measures like thermal screening and proper sanitization are being practiced to ensure safety. Online measures include "SANYtization", which is a digital initiative to promote awareness amongst the whole community through social media channels.

About Sany India

Sany India was incorporated in 2002 and offers the widest range of Construction Machinery in India & South Asia. In 2012, Sany India invested more than INR 500 crore to develop infrastructure for R&D, Manufacturing, Quality Inspection, Testing and Service at their manufacturing facility in Chakan, Pune. Through this facility, the company operates in four Business verticals viz: Excavator, Heavy Equipment, Concrete Machinery and Renewable Energy. Presently, Sany India offers products like excavators, truck mounted cranes, all terrain and rough terrain cranes, crawler cranes, transit mixers, batching plants, boom pumps, trailer pumps, piling rigs, motor graders, pavers, compactors, reach stackers, rubber tyred gantry cranes, rail mounted gantry cranes, mining equipment, wind turbine generators and many more. The company has already established a strong network of around 25 dealers across India to cater to the growing demand and provide support to all its customers & associates. Sany has more than 12000 machines delivered on ground, contributing to infrastructure development projects in India & other South Asian countries. Owing to its widest product range, superior build quality, service commitment, innovative solutions, and global expertise, Sany India has achieved market leadership in various construction equipment segments. With Government of India's focus on infrastructure development and modernization, the company is poised for tremendous growth.

About MIDC

MIDC was established in 1962, under M.I.D. Act 1961 as the premier industrial infrastructure development agency of Government of Maharashtra. It has one of the largest industrial land banks amongst all the Industrial development corporations in India. Through 16 regional offices, MIDC manages its 289 industrial complexes. Standing true to its corporate Philosophy "Prosperity to all through Industrialization" MIDC built 289 Industrial Areas with 66273.82 hectares of land. (Approx.) MIDC has also developed specialized parks for different industrial sectors including IT, BT, Special Economic Zones.