Khaitan & Co and AQUILAW Advise on Blackstone's Acquisition of South City Mall in Kolkata
Khaitan & Co and AQUILAW provided comprehensive legal and strategic advisory services to Blackstone and South City Projects (Kolkata) Limited, respectively, for the acquisition of South City Mall in Kolkata.
Real EstateLegal CounselBlackstone GroupSouth City MallAcquisitionReal Estate NewsJun 21, 2025
The deal team at Khaitan & Co was led by Deepak Jodhani (Partner) and Shourya Sengupta (Partner), with support from Sneh Lata (Principal Associate), Divyansh Joshi (Senior Associate), Shreetama Chakraborty (Senior Associate), Aanchal Khandelwal (Associate), and Ishaan Nagarkatti (Associate). The team was guided by Haigreve Khaitan (Senior Partner).
The deal team was further assisted by specialists in various areas:
- Real Estate aspects: Gaurav Dasgupta (Partner) and Richaa Mukhopadhyay (Associate)
- Antitrust/competition aspects: Anisha Chand (Partner), Tanveer Verma (Principal Associate), and Ritika Ghosh (Associate)
- Regulatory aspects: Sanchit Agarwal (Partner), Romit Kohli (Associate), and Shivangi Mishra (Associate)
- Employment aspects: Deepak Kumar (Partner) and Varsha Sankara Raman (Associate)
- Disputes and litigation aspects: Rajiv Bhatnagar (Partner), Ishaan Khanna (Counsel), Pratik Shanu (Principal Associate), and Agni Sen (Senior Associate)
- Closing and other assistance: Karishma Sethia (Senior Associate)
AQUILAW advised South City Projects (Kolkata) Limited on the transaction, focusing on the review of the Business Transfer Agreement, drafting, negotiating, and finalizing the Deed of Conveyance, Deed of Assignment, Supplementary Development Agreement, and instruments for revocation and fresh grant of Development Powers of Attorney. The firm also provided strategic business advisory to ensure the successful acquisition of South City Mall and advised on the execution of the Intellectual Property Assignment Agreement and the Arbitral Award Assignment Agreement.
The transaction and advisory team at AQUILAW was led by Sucharita Basu (Founding & Managing Partner) and Soumya Banerjee (Partner), with support from Tanya Sumana Das (Associate Partner) and Ankit Chhaparia (Principal Associate Designate). Additional support was provided by:
- Arbitral Award Assignment: Piyush Agrawal (Partner), Kanchan Modak (Principal Associate), Subarna Saha (Senior Associate), and Debdatta Mukhopadhyay (Associate)
- IP Assignment: Kanchan Modak (Principal Associate) and Sakchi Agarwal (Associate)
This acquisition marks a significant milestone in the real estate sector, demonstrating the growing interest of international investors in high-profile commercial properties in India. Both Khaitan & Co and AQUILAW played crucial roles in ensuring the smooth and successful completion of the transaction.
Frequently Asked Questions
What was the role of Khaitan & Co in the acquisition of South City Mall?
Khaitan & Co acted as the legal counsel to the Blackstone Group, providing comprehensive advisory services including transaction structuring, legal and title due diligence, and drafting, negotiating, finalizing, and executing the definitive agreements.
Who led the deal team at Khaitan & Co?
The deal team at Khaitan & Co was led by Deepak Jodhani (Partner) and Shourya Sengupta (Partner).
What was AQUILAW's role in this transaction?
AQUILAW advised South City Projects (Kolkata) Limited, focusing on the review of the Business Transfer Agreement, drafting, negotiating, and finalizing various legal documents, and providing strategic business advisory to ensure the successful acquisition of South City Mall.
Who led the transaction and advisory team at AQUILAW?
The transaction and advisory team at AQUILAW was led by Sucharita Basu (Founding & Managing Partner) and Soumya Banerjee (Partner).
What are the key areas of expertise provided by the teams at Khaitan & Co and AQUILAW?
Khaitan & Co provided expertise in real estate, antitrust/competition, regulatory, employment, and disputes and litigation. AQUILAW provided expertise in real estate, intellectual property, and arbitral award assignments.
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