Real estate developer M3M India has acquired a project of 350-acre land in Panipat, Haryana, from Ambience Group for ₹1,500 crore.
The transaction involved the sale of the business undertaking (comprising sixteen subsidiaries of Ambience Private Limited owning parcels of the land for the project) owned by Ambience Group to M3M Group.
Lakshmikumaran and Sridharan acted as the legal counsel for Ambience Group and advised on all aspects related to the transaction. The role involved advising on the structure of the transaction and assisting in the negotiation and finalization of the transaction documents from a regulatory and tax standpoint.
The LKS Corporate and M&A team consisted of Kunal Arora (Partner), Anupam Misra (Principal Associate) and Dikshita Damodaran (Senior Associate).
The LKS Direct Tax team consisted of S Vasudevan (Executive Partner), Karanjot Singh Khurana (Associate Partner), Harshit Khurana (Principal Associate) and Aman Baid (Associate).
The LKS GST team was led by Kapil Sharma (Partner).
KNM and Partners represented M3M India in this acquisition.
The transaction team was led by Mukesh Kumar (Founder).
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