Pioneer Legal assists Kirloskar Ferrous on acquisition of Oliver Engineering

Kirloskar Ferrous Industries Limited (KFIL) has acquired Oliver Engineering Private Limited for ₹111.8 crore, pursuant to the completion of OEPL’s corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.

Pursuant to an application made by one of its creditors, OEPL underwent the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016, in which, KFIL participated as one of the resolution applicants. The resolution plan submitted by KFIL was approved by the committee of creditors and the National Company Law Tribunal, Delhi. Pursuant to the provisions of the approved resolution plan, KFIL acquired 100% of the equity share capital of OEPL.

Pioneer Legal acted as the lead counsel for Kirloskar Ferrous. The firm advised on Insolvency and corporate laws in India.

The transaction team consisted of Satish Kishanchandani (Managing Partner), Sanket Jain (Partner), Rushad Irani (Principal Associate), Param Gupta (Senior Associate) and Shreya Masalia (Associate).

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