Shardul Amarchand Mangaldas & Co advised the committee of creditors, including Axis Bank, State Bank of India and others, in the corporate insolvency resolution process of Educomp Infrastructure and School Management.
Educomp will be taken over by Parmjit Gandhi, through his entity Jasrati Education Service, and the resolution plan approved by the National Company Law Tribunal is now implemented.
JC Flowers Asset Reconstruction, Punjab National Bank, Karnataka Bank, Union Bank of India and Bank of India were among the committee of creditors.
Partner Jatin Aneja, head of SAM’s projects and infrastructure practice, led the team in the USD61 million deal. Partners Anurag Dwivedi and Kushal Sinha also assisted along with principal associate Megha Kaur, and associates Shashwat Bhaskar and Chaitanya Kashyap.
Partners Misha, who has one name, and Siddhant Kant led the litigation team, with assistance from senior associate Charu Bansal and associate Krishan Singhal.
Partner Rohan Jain, senior associate Kshitij Arora and associate Shrutika Lakhotia led the corporate advisory team.
Luthra and Luthra Law Offices India acted as legal counsel to the resolution professional, where partners Piyush Mishra and Shivani Sinha advised the RP on the transactional side and partners Sanjeev Kumar, Piyush Mishra appeared for the RP in litigation. They were assisted by managing associate Anshul Sehgal.
Trilegal advised Edelweiss Asset Reconstruction Company on the transaction.
Educomp is involved in real estate activities, including buying, selling, renting and operating of self-owned or leased property such as apartment and non-residential buildings, and developing and subdividing land.