Shardul Amarchand Mangaldas advises Resolution Professional of Alok Industries Limited
Shardul Amarchand Mangaldas & Co advised the Resolution Professional of Alok Industries Limited in relation to the Corporate Insolvency Resolution Process (CIRP) of the company under the Insolvency and Bankruptcy Code, 2016, culminating in the approval and implementation of the resolution plan submitted by the consortium of Reliance Industries Limited and JM Financial Asset Reconstruction Company Limited.
The deal is valued at Rs. 5050 crores and the implementation of the resolution plan was concluded on 14 September 2020.
The transaction team was led by Veena Sivaramakrishnan, Partner; Soummo Biswas, Partner; Parth Gokhale, Principal Associate; Charu Misra, Senior Associate; Suktika Banerjee, Associate; Apeksha, Associate; and Jasraj Narula, Associate.
Litigation Team was led by Misha, Partner; Grishma Ahuja, Principal Associate; Siddhant Kant, Principal Associate; Vaijayant Paliwal, Principal Associate; Shalin Jani, Associate; and Nikhil Mathur, Associate.
Corporate Advisory Team was led by Yogesh Chande, Partner; and Preeti Kapany, Associate.
Grant Thornton India LLP acted as the process advisor to the Resolution Professional.
Khaitan & Co. advised the Committee of Creditors (CoC) and AZB & Partners advised the consortium of Reliance Industries Limited and JM Financial Asset Reconstruction Company Limited.