May 01, Mumbai: Cyril Amarchand Mangaldas acted as the legal counsel for the Godrej Family branches led by Mr. Adi Godrej and Mr. Nadir Godrej in relation to their family arrangement with the family branches led by Mr. Jamshyd Godrej and Mrs. Smita Godrej Crishna in relation to the re-alignment of the Godrej Group.
A family settlement arrangement was entered into by the Godrej family members comprising of two branches. The family branches have also entered into a Brand & Non-Compete Agreement to record their understanding in respect of the Godrej brand and non-compete obligations. The realignment is subject to receipt of requisite approvals.
Consequent to the announcement of family settlement arrangement, the members of the Godrej family led by Mr. Adi Godrej and Mr. Nadir Godrej have also made a public announcement of an open offer for the acquisition of shares held by the public shareholders of Astec Lifesciences Limited.
The transaction team of Cyril Amarchand Mangaldas was led by Mr. Cyril Shroff, Managing Partner, Mr. Rishabh Shroff, Partner & Co-Head Private Client Practice, Mr. Ramgovind Kuruppath, Partner – General Corporate Practice, with support from Mr. Archit Bhatnagar, Principal Associate, Ms. Surabhi Saboo, Senior Associate and Ms. Nikita Singhi, Senior Associate.
Ms. Avaantika Kakkar, Partner and Head - Competition Law Practice, and Ms. Shivani Sathe, Senior Associate, advised on competition law related aspects.
Mr. Aditya Prasad, Partner – General Corporate Practice, with support from Mr. Archit Bhatnagar, Principal Associate, Ms. Surabhi Saboo, Senior Associate and Ms. Nikita Singhi, Senior Associate advised on open offer related aspects.
The firm had the opportunity to bring to bear its rich experience in advising promoter families with large and diversified businesses and holdings to arrive at family settlement arrangements in a fair and amicable manner.
The family branches led by Mr. Jamshyd Godrej and Mrs. Smita Godrej Crishna were represented by AZB.
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