CAM advised Tata Motors Limited (Tata Motors) on a scheme of arrangement for reduction by way of cancellation of capital (‘A’ Ordinary Shares) and payment of non-cash consideration (Ordinary Shares) for such reduction of capital.
The General Corporate & Capital Markets Practice of Cyril Amarchand Mangaldas advised Tata Motors on the transaction. The transaction team was led by Anand Jayachandran, Partner; with support from Supriya Aakulu, Principal Associate; Ayushi Singh, Associate; Abhisht Patibanda, Associate; and Ipkshita Singh, Associate.
Yash Ashar, Partner & Head Capital Markets; and Nivedita Rao, Partner & Deputy Head – Corporate; provided strategic inputs on the transaction.
Other team members included Abhinav Kumar, Partner & Regional Head Markets Practice (Western Region); and Tapan Deshpande, Director – Corporate Litigation.
As part of the transaction, the Scheme provides inter alia for reduction through cancellation of ‘A’ Ordinary Shares and the issuance and allotment of the Ordinary Shares as consideration other than cash for such reduction.
The Scheme was approved by the board of directors of Tata Motors on 25thJuly, 2023, and is subject to regulatory and shareholder approval, including sanction by the National Law Company Tribunal, Mumbai Bench.
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About Cyril Amarchand Mangaldas
Cyril Amarchand Mangaldas (cam) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With 1000 lawyers and 170 Partners, the Firm is the largest full-service law firm in India and offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City and also in Singapore.
The Firm recently received “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards and the “National Law Firm of the Year: India” award at the IFLR Asia Pacific 2022 awards ceremony. The Firm had won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2021.
