Cyril Amarchand Mangaldas advised the UBS Group on the integration of the Credit Suisse group’s service entities in India with UBS Business Solutions in India by way of a composite scheme of arrangement sanctioned by the National Company Law Tribunal, Mumbai. The Scheme involved the (a) the merger of Credit Suisse Services (India) Private Limited and Credit Suisse Business Analytics (India) Private Limited into UBS Business Solutions (India) Private Limited (UBS BuSo India); and (b) the in-bound cross-border demerger of the branch office in Pune, India of Credit Suisse Services AG (Swiss entity) into UBS BuSo India, and brings together a 24,000-strong team under one unified entity.
The scheme has been approved by the Hon’ble NCLT Mumbai Bench and the cross-border demerger has been registered with the Commercial Registrar (Canton of Zurich, Switzerland). In accordance with the provisions of the Scheme, the Scheme became effective on April 01, 2025.
Cyril Shroff, Managing Partner and Ramgovind Kuruppath, Partner, provided strategic inputs throughout the transaction.
The transaction was led by Archit Bhatnagar, Partner; with assistance from Nayana Dasgupta, Principal Associate; and Pooja Jasani, Senior Associate.
Manmohan Juneja, Senior Advisor; provided guidance on Companies Act related aspects.
Tapan Deshpande, Director – Corporate Litigation; with support from Aekaanth Nair, Senior Associate; advised on the NCLT scheme process related aspects.
Team led by Bishen Jeswant, Partner; with support from Krithika Radhakrishnan, Principal Associate; Himaa Sudhir, Senior Associate; assisted with employment law related advice.
Srinivas Chatti, Partner; and Aishwarya Wagle, Principal Associate; Utkarsh Jhingan, Senior Associate; Devanshu Anada, Associate; Shreya Rajasekaran, Associate; and Shrudula Murthy, Associate; also provided support on some aspects of the transaction.
