New Delhi, January 10, 2023: Lakshmikumaran and Sridharan acted as the legal counsel for Ambience Group and advised on all aspects related to the transaction. The role involved advising on the structure of the transaction and assisting in the negotiation and finalization of the transaction documents from a regulatory and tax standpoint.
Real estate developer M3M India has acquired a project of 350-acre land in Panipat, Haryana, from Ambience Group for ₹1,500 crores. The transaction involved the sale of the business undertaking (comprising sixteen subsidiaries of Ambience Private Limited owning parcels of the land for the project) owned by Ambience Group to M3M Group.
The LKS Corporate and M&A team comprised of Kunal Arora (Partner), Mr. Anupam Misra (Principal Associate) and Ms. Dikshita Damodaran (Senior Associate). Mr. S Vasudevan (Executive Partner) led the LKS Direct Tax team and was supported by Mr. Karanjot Singh Khurana (Associate Partner), Mr. Harshit Khurana (Principal Associate) and Mr. Aman Baid (Associate). Mr. Kapil Sharma (Partner) led the LKS GST team.
M3M India was represented by KNM and Partners, with the team led by Mr. Mukesh Kumar.
About Lakshmikumaran & Sridharan
Lakshmikumaran & Sridharan (LKS) is a premier full-service Indian law firm specialising in areas such as corporate & M&A/PE, dispute resolution, taxation, and intellectual property. The firm, through its 14 offices across India works closely on litigation and commercial law matters, advising and representing clients both in India and abroad.
The firm has handled more than 30,000 litigation cases before various forums including 2,000 cases before the Supreme Court of India. Over the last 37 years, the firm has worked with over 15,500 clients which range from start-ups, and small & medium enterprises, to large Indian corporates and multinational companies.
The professionals within the firm bring diverse experience to service clients across sectors such as commodities, automobile, manufacturing, healthcare, IT/ITeS, FMCG, hospitality, real estate, petrochemicals, e-commerce, fintech, big data, renewables, cryptocurrency, gaming, and sports. The firm takes pride in the value-based, client-focused approach that combines knowledge of the law with industry experience to design bespoke legal solutions.
The firm's driving principles to achieve our vision are integrity, knowledge, innovation, and collaboration.