Linden St. Holdings, Inc., a US-based company, has made its exit from Parle Tableting Technologies Private Limited, its 50:50 joint venture in India, through the sale of its entire shareholding to the Indian joint venture partners - Parle Global Technologies Private Limited, Mr. Mahendra Rajmal Mehta, and Mr. Rajmal Lavji Mehta.
Lakshmikumaran & Sridharan Attorneys advised Linden St. Holdings, Inc. on this exit. The Firm's role included assisting with end-to-end drafting, negotiation and finalisation of transaction documents, advising on all tax-related aspects of the transaction, and closing related assistance, with a focus on balancing the differing commercial considerations of the client and multiple buyers, while also addressing cross-border legal and tax requirements.
The transaction team consisted of Gaurav Dayal (Executive Partner), Sushrut Biswal (Partner), Saurabh Raman (Principal Associate) and Snigdha Ghosh (Associate).
Bharathi K. Prasad (Director), Venkаt Ramanan (Associate Director) and Bhavana Kulluru (Senior Associate) advised on Direct Tax law aspects.
Parle Tableting Technologies is engaged in the manufacturing and supply of tooling, tool care products, and tablet compression machines for both pharmaceutical and non-pharmaceutical industries.
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