DSK Legal, AMR Law, CAM, SAM act on GreatWhite Electricals change in ownership

Hemang Jadavji Shah and certain other sellers have sold off their entire shareholding, representing 50% of the issued and paid-up share capital, in Great White Global Private Limited, to Mehul Jadavji Shah and an alternate investment fund.

The transaction involved resolving a longstanding shareholder dispute between Hemang Jadavji Shah and Mehul Jadavji Shah, who each held a 50% stake in the Company. The dispute was the subject of proceedings before the National Company Law Tribunal, Mumbai Bench. Pursuant to a bidding process conducted under the supervision of a chairperson appointed in the NCLT proceedings, Mehul Jadavji Shah emerged as the successful bidder for the Sellers’ stake, paving the way for the resolution of the dispute and the Sellers’ exit from the Company.

DSK Legal advised Hemang Jadavji Shah and the other sellers on this transaction. The Firm navigated the complex and multifaceted issues including handling various stakeholders through the course of this process, working through the challenges with a clear focus on achieving the desired outcome. The Firm facilitated the entering into and completion of the transaction, working closely with the Sellers and the other stakeholders and their respective advisors to ensure an orderly exit for the Sellers and timely completion of the transaction. 

A team comprising of Ajay Shaw (Partner), Akanksha Tiwary (Partner) and Priyashi Chhajer (Senior Associate) provided strategic advice and worked with AMR Law who were the advocates on record with respect to the NCLT proceedings, mediation, and connected proceedings.

The team advising the Sellers consisted of Ajay Shaw (Partner), Gaurav Mistry (Partner), Akanksha Tiwary (Partner) and Priyashi Chhajer (Senior Associate).

Cyril Amarchand Mangaldas advised Mehul Jadavji Shah and his affiliates on this transaction.

Shardul Amarchand Mangaldas & Co advised the alternate investment fund on this transaction.

GreatWhite Electricals is engaged in the electrical goods and electrical infrastructure products sector, with a portfolio spanning modular switches, LED lighting, home automation solutions, wires and related products.

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