Cyril Amarchand Mangaldas Advises ITC Limited (ITC) on Acquisition of 100% Stake in Sunrise Foods Private Limited

India’s largest law firm Cyril Amarchand Mangaldas acted as the transaction counsel to ITC Limited (ITC) in relation…

India’s largest law firm Cyril Amarchand Mangaldas acted as the transaction counsel to ITC Limited (ITC) in relation to its acquisition of 100% stake in Sunrise Foods Private Limited (Sunrise Foods). Sunrise Foods is a leading manufacturer of spices, with strong presence in eastern India, and sells its product range under the brand “Sunrise”.

The M&A, Real Estate and Employment Law Teams at Cyril Amarchand Mangaldas advised on the Transaction.

The Transaction Team was led by Ramgovind Kuruppath, Partner; with support from Megha Krishnamurthi, Associate; Surabhi Saboo, Associate; and Smriti Tripathi, Associate.

 

Due Diligence

  • Corporate Due Diligence and Advisory was led by Ramgovind Kuruppath, Partner, with support from Megha Krishnamurthi, Associate; Smriti Tripathi; Associate, Anushka Jain, Associate; and Surabhi Saboo, Associate.
  • Real Estate Due Diligence and Advisory was led by Ashish Jain, Partner; with support and assistance from Prayaas Sharma, Associate; and S. Siddhant, Associate.
  • Employment Law Due Diligence and Advisory was led by Richa Mohanty Rao, Partner with support from Anna Thomas, Consultant; Akshat Sahajpal, Associate; and Vani Sharma, Associate.
  • Corporate Secretarial Due Diligence team included Vidhi Doshi, Senior Manager – Corporate Secretarial Services; Mihir Sangani, Executive – Corporate Secretarial Services; Charmi Sanghvi, Executive – Corporate Secretarial Services; and Rasika Bharadkar, Executive – Corporate Secretarial Services.

This is a significant transaction in the FMCG space and is aligned with ITC’s strategy to rapidly scale up its FMCG Businesses in a profitable manner, leveraging its institutional strengths viz. deep consumer insight, a deep and wide distribution network, agri-commodity sourcing expertise, cuisine knowledge, strong rural linkages and packaging know-how.

Other advisors to the Transaction included JM Financial Limited.

The Share Purchase Agreement was signed on May 23, 2020.

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 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.

Total
0
Shares
Related Posts

JGU Announces 100 Research Scholarships for the Graduating Class of 2020

The O.P. Jindal Global University (JGU) has launched the Graduate Research Immersion Programme (GRIP) Scholarships to mentor and support the 2020 graduating students in overcoming the challenges posed by COVID-19 on their careers and future plans. This unique and innovative scholarship programme will enable the 2020 graduating students of JGU to pursue a research immersion programme immediately after their graduation while finding their pathways and career opportunities at the end of the GRIP Scholars Initiative.

Under this path-breaking initiative, 100 research scholarships will be provided to meritorious graduating students of JGU to augment their research capabilities and other skills, besides enabling them to gain the much needed work experience.

The GRIP Scholarship Initiative is a six-month programme, which will commence from September 1st of this year. Under the initiative, GRIP Scholars will be selected through a competitive process from among the JGU students graduating in 2020. They will work closely with accomplished and outstanding global faculty of JGU and will be provided with generous and comprehensive institutional support from the university to further develop their competencies and skills.

During the programme, GRIP Scholars will benefit from one-on-one supervision, mentorship and guidance from JGU's reputed scholars in the disciplines of law, management, international relations, public policy, liberal arts and humanities, and journalism. The GRIP Scholars will also be encouraged to take active part in advancing JGU's research programmes through the university's 55 research centres and three research and capacity building institutes.

"The launch of this new and transformative scholarship programme aims to provide research opportunities for selected graduating students of JGU in 2020 to undertake an innovative research immersion programme at JGU. In the uncertain scenario of the academic world grappling with the COVID-19 crisis, it is impossible to predict the return of normalcy and the lifting of restrictions. The Graduate Research Immersion Programme (GRIP) Scholarships assists our graduates to ensure continuity and consistency in their learning, educational and career aspirations. The students are at the heart of what we are doing at JGU. There is no other moment in India's educational imagination and our own institutional history than now that our graduates need guidance, help, support and mentorship. The global pandemic has systemically impacted every aspect of higher education and it is important for universities rise up to the occasion to provide a helping hand to their graduates," said Professor (Dr.) C. Raj Kumar, Founding Vice-Chancellor of O.P. Jindal Global University.

"The GRIP Scholarship is a unique initiative that aligns with the founding vision of JGU to build a world-class university in India that will transform the landscape of higher education. Our students are at the centre of this vision, and the GRIP Scholarships are intended to be an empowering opportunity for the 2020 JGU graduates to overcome this crisis in a far more effective manner. The GRIP Scholarships Initiative of JGU is part of our vision to promote institutional values of University Social Responsibility (USR) with a view to providing leadership and support at this time of crisis," Professor Raj Kumar said.

The programme will provide unique and wide-ranging opportunities for GRIP Scholars to interact with industry experts, practitioners, lawyers, judges, leading national and international academics and researchers, journalists, government officials, and institutional leaders who are regularly hosted at JGU as part of the University's broad institutional agenda of advancing intellectual debates, discussions and collaboration across disciplinary areas and boundaries.


Apart from the scholarship in the form of financial support, JGU will provide accommodation and other benefits and privileges to the GRIP Scholars for the duration of the programme. The selected GRIP Scholars will need to be on the University campus for the duration of the programme as this not an online scholarship programme as faculty mentorship is a critical component of the programme.

The GRIP Scholarships Initiative addresses the challenges faced by our graduating students, enabling them to navigate the ongoing crisis caused by the Covid-19 pandemic. The ensuing lockdown and lack of opportunities or clarity to pursue learning or career streams has created uncertainty for many students. The objective of this programme is to support graduating students in their overall career progression and transition into their higher education or professional careers.

About O.P. Jindal Global University

O.P. Jindal Global University (JGU) is a multi-disciplinary and research oriented that is recognised by the Government of India as an "Institution of Eminence" (IoE). JGU is the only non-STEM and non-Medicine University, which has been recognised as an IoE. Founded in 2009, O.P. Jindal Global University (JGU) is a non-profit global and research focussed university established by the Government of Haryana and recognised by the University Grants Commission (UGC). JGU maintains a 1:9 faculty-student ratio and appoints faculty members from India and different parts of the world with outstanding academic qualifications and experience. With over 5,000 students and 550-plus faculty, studying and living on a fully residential campus, JGUs nine schools focus on law, management, international affairs, public policy, liberal arts & humanities, journalism, art & architecture, banking & finance and environment & sustainability. In 2019, JGU became the youngest university in India and the rest of the world to break into the QS World University Rankings 2020. JGU is the only Indian private university in the top 150 young universities in the world (under 50 years of age) in the QS Young University Rankings 2020. Recently, the Jindal Global Law School of JGU was ranked Number 1 in India and among the top 101-150 law schools in the world by the QS World University Rankings 2020 By Subject. JGU is also the first Indian university to receive the QS IGAUGE E-LEAD (E-Learning Excellence for Academic Digitisation) Certification for achieving excellence in promoting online education. JGU is an initiative of the Jindal Steel & Power Foundation.

NADA Asks Sports Persons to Maintain Body and Mind Balance During Pandemic

Ms Charu Pragya, Vice-Chairperson, Anti Doping Disciplinary Panel, National Anti Doping Agency, NADA (Ministry of Sports, Government of India) interacted with the state, national and international level players and other talented sportspersons of the Western Uttar Pradesh region through video conferencing last week.

Charu Pragya

In the past, Charu has represented India in international shooting and has won medals for the country. The conference was organized around issues based on challenges in sports life and what kind of facilities do players need into the coming time. During the interaction with the players and coaches, she told how harmful doping can prove to be for a player. If caught in any sort of such illegal activity, the ban may last for a few years but his/her entire career sinks forever.

Doping is a problem that not only hurts the dignity of the game and the country, but also proves extremely fatal for the health of a player, she said. Apart from this, Charu also talked about what has changed in the life of a player during this pandemic and how are players exercising in their homes in order to maintain their fitness.

Postponement of national or international games can result in weakening of a player's mental health and in those tough times it becomes crucial to maintain proper balance of both body and mind. She also said that she is proud that she also belongs to the same soil that has given the country as well as the world such gifted and skilful players, the talent of the sportspersons of the region is limitless. The primary objectives of National Anti-Doping Agency (NADA) are to implement anti-doping rules as per WADA code, regulate dope control programme, to promote education and research and creating awareness about doping and its ill effects. The participants of the video conference were Subhash Verma, Anuj Kumar Taliyan, Manisha, Anjali Chikara, Ushma, Sudhir Chaudhary and several other players and coaches.