AQUILAW advised Ambuja Neotia Healthcare Venture Limited on acquisition of land admeasuring 5 acres in Rajarhat, West Bengal from IILM Foundation for development of a super specialty hospital.
AQUILAW conducted comprehensive title due diligence exercise to verify the ownership and encumbrance status of the land which included a critical review of title deeds, land records and carrying out exhaustive title search exercises at relevant offices, courts and websites. The Firm also prepared and finalized a Title Due Diligence Report capturing key legal insights and providing critical observations into the flow of title, pending litigations, mutation and classification status, risk assessments and recommendations for mitigating potential title risks. The Firm also advised on structuring the transaction to ensure a legally compliant transfer from the seller while safeguarding the Client's interests and mitigating legal and financial risks. The Firm played a pivotal role in drafting, negotiating, and finalizing the Deed of Conveyance and other transaction documents, while also assisting with the execution and registration.
The core transaction team advising on the matter was led by Sucharita Basu (Managing Partner) and Soumya Banerjee (Partner), along with Tanya Sumana Das (Principal Associate) and Ankit Chhaparia (Senior Associate).
Gour Saha (Counsel) assisted on title search aspects.
This acquisition is part of the group's ambitious plan to establish a 500-bed general hospital in the area. This initiative is a component of a broader investment strategy, wherein the group has committed over ₹15,000 crore to various projects in West Bengal over the next five years. These projects encompass healthcare, hospitality, tourism, and real estate sectors, aiming to bolster the state's infrastructure and economic growth.
Ambuja Neotia Healthcare Venture Limited, a division of the Ambuja Neotia Group, is dedicated to providing comprehensive healthcare services across Eastern India. Their portfolio includes the Neotia Getwel Multispecialty Hospital in Siliguri, the Bhagirathi Neotia Woman and Child Care Centre in Kolkata, and multiple branches of Genome – The Fertility Centre, among others.
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