Khaitan, LexCounsel act on Texmaco - Rail Vikas Nigam joint venture

Texmaco Rail & Engineering Limited has entered into a joint venture arrangement with Rail Vikas Nigam Limited, with Texmaco and RVNL holding a 49:51 stake respectively.

Khaitan & Co acted as the legal counsel to Texmaco and advised and assisted them on structuring of the transaction and drafting, negotiation, finalisation and execution of definitive agreements relating to the transaction.

The transaction team consisted of Shourya Sengupta (Partner), Supallab Chakraborty (Senior Associate) and Joysurjo Roy (Associate).

Haigreve Khaitan (Senior Partner) provided strategic guidance.

LexCounsel advised Rail Vikas Nigam Limited on this JV.

The transaction team consisted of Alishan Naqvee (Founding Partner) and Kartikey Gaur (Associate).

Texmaco Rail and Engineering is inter-alia engaged in the business of designing, engineering, manufacturing and selling of railway wagons, coaches, locomotives (together with its components) and execution of railway infrastructure projects.

Rail Vikas Nigam is a premier central public sector undertaking (PSU) under the direct administrative control of the Government of India and is an engineering and project execution company engaged in the development of railway infrastructure across India.

This joint venture has been formed between the parties to boost India’s rail manufacturing capabilities for development of India’s next-generation rolling stock viz. freight, locomotive, passenger, and metro systems and to increase India’s footprint in global railway infrastructure market.

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