CAM Facilitates Alta Capital & Logicap's 100% Acquisition of Pushti Warehousing in Bhiwandi, Maharashtra
Cyril Amarchand Mangaldas (CAM) acted for Alta Capital and Logicap in the acquisition of the entire share capital of Pushti Warehousing Private Limited, an Antonov Group SPV, which owns approximately 25 acres of land in Bhiwandi, Maharashtra. Additionally, CAM assisted the clients in acquiring an additional 13.7 acres of land in the same region for the development of warehouses.
The Company, Pushti Warehousing Private Limited, is engaged in the construction and development of industrial park projects for warehousing and industrial activities. This strategic acquisition aims to enhance the industrial and warehousing capacity in the region, leveraging the strategic location of Bhiwandi, which is a key industrial hub in Maharashtra.
The transaction team was led by Siddharth Hariani, Partner at CAM, with support from Vaishnavi Eshwar, Principal Associate; Piyush Langade, Senior Associate; and Shubham Shanu, Associate. The team provided comprehensive legal assistance, ensuring a smooth and efficient acquisition process.
Jinal Mehta, Partner, along with Gaurav Utagikar, Senior Associate, and Anjali Kadam, Consultant, conducted the title due diligence and prepared the land-related transaction documents. This thorough due diligence was crucial in ensuring the legal integrity of the transaction and protecting the interests of the clients.
Aviral Sahai, Partner, and Sushil Jethmalani, Principal Associate, assisted with the Media & Sanctions Check, ensuring compliance with all relevant regulations and mitigating any potential risks. This step is vital in maintaining the transparency and ethical standards of the acquisition.
Avaantika Kakkar, Partner and Head of Competition, along with Pushkar Singh and Arundhati Rajput, Associates, provided the necessary CCI (Competition Commission of India) analysis. This analysis is essential for ensuring that the acquisition complies with the competition laws of India, thereby avoiding any legal hurdles.
The successful completion of this acquisition underscores CAM's expertise in handling complex and high-stakes transactions in the real estate and industrial sectors. It also highlights the growing importance of Bhiwandi as a key location for industrial and warehousing developments in Maharashtra.
This acquisition is expected to significantly boost the industrial and logistics infrastructure in the region, attracting more investments and fostering economic growth. The strategic partnership between Alta Capital and Logicap, facilitated by CAM, is a testament to the firm's commitment to delivering exceptional legal services and driving sustainable business growth.
