Shardul Amarchand Mangaldas & Co. (SAM), Herbert Smith Freehills Kramer LLP, Sullivan & Cromwell LLP, and Troutman Pepper Locke acted as legal counsel to AGCO Group in the comprehensive global settlement of its disputes with Tractors and Farm Equipment Limited (TAFE).
The settlement included AGCO’s exit from its 65-year shareholding in TAFE for an aggregate consideration of USD 260 million, completed on September 30, 2025.
The SAM team advising on overall strategy, implementation of the settlement, and the AGCO exit was led by Mithun V. Thanks (Partner), Pooja Singhania (Partner), Mukul Baveja (Partner), Shreya Gupta (Partner), and Bikram Chaudhri (Partner), assisted by Alysha Razvi (Principal Associate), Doorva Tripathi (Senior Associate), Jehan Jhaveri (Associate), Prachi Gupta (Associate), Keyur Jaju (Associate), and Ananya Saria (Associate).
The dispute resolution workstream team was led by Mithun V. Thanks (Partner), Shreya Gupta (Partner), Bikram Chaudhri (Partner), Mukul Baveja (Partner), Allwin Godwin (Partner), and Manu Nair (Partner), assisted by Pratik Singhvi (Principal Associate), Abhijeet Sadikale (Principal Associate), Akhila J. (Principal Associate), Madhur Chopra (Principal Associate), Neelabh Shreesh (Principal Associate), Prakriti Sharma (Senior Associate), Prachi Gupta (Associate), Niranjana Pandian (Associate), Sushain Sobti (Associate), Barathwaz T. (Associate), and Keyur Jaju (Associate).
Herbert Smith Freehills Kramer LLP, Sullivan & Cromwell LLP, and Troutman Pepper Locke advised AGCO on foreign law aspects of the settlement, with Herbert Smith Freehills also representing the group in ICC arbitrations in London. Deloitte Touche Tohmatsu India LLP advised AGCO on tax matters.
The settlement brought closure to extensive cross-border litigation and arbitration between AGCO and TAFE spanning more than a year, with matters pending before the Supreme Court of India, Madras High Court, Egmore Commercial Court, and ICC arbitrations seated in London. As part of the settlement, the parties executed exit agreements, intellectual property arrangements concerning the “Massey Ferguson” brand, and various litigation and arbitration settlement agreements.