Cyril Amarchand Mangaldas, AZB advise on Godrej Group Family Settlement

The Godrej family branches have also entered into a Brand & Non-Compete Agreement to record their understanding in respect of the Godrej brand and non-compete obligations.

Godrej

Godrej Family branches led by Adi Godrej and Nadir Godrej have entered into a family arrangement with the family branches led by Jamshyd Godrej and Smita Godrej Crishna in relation to the re-alignment of the Godrej Group.

A family settlement arrangement was entered into by the Godrej family members comprising two groups. The family groups have also entered into a Brand & Non-Compete Agreement to record their understanding in respect of the Godrej brand and non-compete obligations. The realignment is subject to receipt of requisite approvals.

Consequent to the announcement of family settlement arrangement, the members of the Godrej family led by Adi Godrej and Nadir Godrej have also made a public announcement of an open offer for the acquisition of shares held by the public shareholders of Astec Lifesciences Limited.

Cyril Amarchand Mangaldas acted as the legal counsel for the Godrej Family branches led by Adi Godrej and Nadir Godrej in relation to this family arrangement.

The firm had the opportunity to bring to bear its rich experience in advising promoter families with large and diversified businesses and holdings to arrive at family settlement arrangements fairly and amicably.

The transaction team of CAM was led by Cyril Shroff, Managing Partner, Rishabh Shroff, Partner & Co-Head Private Client Practice, Ramgovind Kuruppath, Partner – General Corporate Practice, with support from Archit Bhatnagar, Principal Associate, Surabhi Saboo, Senior Associate and Nikita Singhi, Senior Associate.

Avaantika Kakkar, Partner and Head - Competition Law Practice, and Shivani Sathe, Senior Associate, advised on competition law related aspects.

Aditya Prasad, Partner – General Corporate Practice, with support from Archit Bhatnagar, Principal Associate, Surabhi Saboo, Senior Associate and Nikita Singhi, Senior Associate advised on open offer related aspects.