Obhan, Khaitan act on Reliance Retail acquisition of majority stake in Addverb Technologies

As part of this restructuring of Addverb Technologies, Neeraj Sharma, Co-founder and Chief Technology Officer resigned from his position and sold his stake in the company.

Reliance Retail Ventures Limited, the retail unit of Reliance Industries Limited, has acquired a 54% stake in Addverb Technologies Private Limited, a Noida-headquartered robotics and automation solutions provider, for approximately $132 million.

As part of this strategic round of funding and restructuring of Addverb Technologies, Neeraj Sharma, Co-founder and Chief Technology Officer of Addverb Technologies, decided to resign from his position and employment with the company and sell his stake in the company.

Obhan & Associates acted as legal counsel to Neeraj Sharma, advising him on his separation from Addverb Technologies as well as the sale of his stake in Addverb Technologies to Reliance Retail Ventures Limited.

The transaction was led by a team of Ashima Obhan (Senior Partner) and Vrinda Patodia (Principal Associate).

Khaitan & Co advised Reliance Retail Ventures Limited and the team was led by Partners Supratim Chakraborty and Rahul Dutt along with Principal Associate Sumantra Bose, Senior Associate Riya Dutta and Associate Anwesha Sinha.

Shailendra Bhandare (Partner), Sourav Dan (Principal Associate), Rhea Ghanshani (Associate) and Vivek Singh (Associate) advised on intellectual property law aspects.

Anshul Prakash (Partner), Abhimanyu Pal (Principal Associate) and Kruthi Murthy (Associate) advised on employment and labour law aspects.

Shabnam Shaikh (Partner) advised on employee stock option related. aspects.

Avnish Sharma (Partner), Kshitij Bishnoi (Principal Associate), Siddharth Godha (Senior Associate), and Saumya Tandon (Associate) advised on real estate aspects.

Anisha Chand (Partner) and Vasudhaa Ahuja advised on competition law aspects.

Tashi Gyanee (Associate) assisted on data privacy due diligence.

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