Cyril Amarchand Mangaldas (“CAM”) advised Larsen & Toubro Limited (“L&T”) on the proposed scheme of arrangement amongst L&T and L&T Realty Properties Limited (“LTRPL”) and their respective shareholders under Sections 230 to 232 of the Companies Act, 2013 approved by the boards of L&T and LTRPL on December 8, 2025. The Scheme provides for, inter alia (a) the transfer of realty undertaking of L&T to LTRPL as a going concern, on slump sale basis and in consideration, inter alia, the issuance of equity shares of LTRPL to L&T; and (b) reorganisation of the share capital of LTRPL (“Scheme”). This transaction marks the beginning of a phased consolidation of all real estate assets and undertakings of L&T and vest them in LTRPL, creating a unified, future-ready entity capable of capitalising on India’s real estate growth.
The transaction team advising L&T was led by L. Viswanathan, Senior Partner, Sudhir Kapadia, Senior Advisor; Bhargav Joshi, Partner, with assistance from Saumya Sharma, Associate; Ayushi Agarwal, Associate; and Arushi Kankariya, Associate.
Indranil Deshmukh, Partner (Head – Disputes); with assistance from Tapan Deshpande, Director – Corporate Litigation; and Aekaanth Nair, Senior Associate; advised on disputes aspects of the transaction.
Ashish Jain, Partner; Edward James, Partner; Rishiraj Bhatt, Partner; Abhilash Pillai, Partner; Siddharth Singh, Partner; with assistance from Kripa Sankari, Principal Associate; Shorya Choudhary, Principal Associate; Siddharth Iyer, Principal Associate; Pavithra Rao, Senior Associate; Nikita D’silva, Consultant; Kinnari Jain, SA — Designate; Vedantha Sai, Senior Associate; Mansi Sethiya, Associate; Januja Gathraj, Associate; Utkarsh Tyagi, Associate; Shruthi P, Associate; and Vaishnavi Joshi, Associate; advised on real estate aspects of the transaction.
Ankita Ray, Partner; with assistance from Faiza Khan, Principal Associate; and Mayank Jain, Associate; advised on employment aspects of the transaction.
Kaustav Kundu, Partner; with assistance from Rajat Sharma, Senior Associate; and Vrinda Gundam, Associate; advised on competition law aspects of the transaction.
Devaki Mankad, Partner (Regional Co-Head – Capital Markets – West); Manan Lahoty, Partner – (Head – Capital Markets); with assistance from Hitesh Nagpal, Associate; advised on capital markets aspects of the transaction.