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Press Releases

Saraf and Partners advised ICICI Bank Limited

New Delhi, India, May 16, 2024: Saraf and Partners acted as legal advisors to consortium of banks and financial institutions led by ICICI Bank Limited (Lenders) in the transfer of management control and 100% equity in Sadbhav Bhavnagar Highway Limited (SBHL) and Sadbhav Una Highway Limited (SUHL) from Sadbhav Infrastructure Projects Limited (SIPL) to Kalthia Engineering and Construction Limited (KECL) (and its subsidiaries) (Kalthia Group).
17 May 2024
Press Releases

Saraf and Partners acted as the legal counsel for a consortium of 21 lenders led by Punjab National Bank, in assignment of stressed assets aggregating to INR 5650 crore availed by Simplex Infrastructures Limited

New Delhi, India, April 9, 2024: Saraf and Partners acted as the legal counsel for a consortium of 21 lenders led by Punjab National Bank (“Lenders or “Client”), in relation to the assignment of stressed assets, involving fund-based and non-fund based facilitates aggregating to approx.
12 April 2024
Press Releases

Saraf and Partners acts for Viatris in divestment of its Women’s Healthcare business, and Active Pharmaceutical Ingredients (API) business in India.

02nd October, 2023: Global healthcare leader Viatris, (formerly known as Mylan), has taken a significant step towards its strategic goals by entering into agreements on October 1st to divest key business segments, including its Women's Healthcare and Active Pharmaceutical Ingredients (API) businesses. The total consideration for these divestments amounts to a substantial USD 1.2 billion.  
21 March 2024
Press Releases

Saraf and Partners acts on sale by Fortis Healthcare of its hospital situated at Vadapalani, Chennai to Kauvery Hospitals

Fortis Healthcare Limited has entered into a definitive agreement with Sri Kauvery Medical Care (India) Limited for sale of its hospital (together with its business operations) situated at Arcot Road, Vadapalani, Chennai, Tamil Nadu, for a consideration of USD 18.5 million/INR 152 crores.The Arcot Road Hospital which is located on leased premises currently has 110 operational beds with a potential to scale up to 200 beds. Saraf and Partners acted for Fortis Healthcare on all aspects of the deal including structuring of the deal as well as the drafting, negotiation and finalization of the transaction documentation. Vaibhav Kakkar (Senior Partner) and Sahil Arora (Partner) led the transaction team. The transaction team also consisted of Keshav Pareek (Senior Associate), Paayas Pandit (Associate) and Niharika Rozwal (Associate). The team was ably supported by the real estate team led by Saroj Kumar Jha (Senior Partner) and Vikram Gupta (Principal Associate). The aforesaid divestment and sale of Arcot Road Hospital is part of Fortis Healthcare’s ongoing portfolio rationalization strategy in order to focus on deepening its presence in select geographic clusters where it has a sizeable presence. For Kauvery, the acquisition is in line with its strategy to further expand its presence in Chennai.  Authors: Vaibhav Kakkar (Left) Sahil Arora ( Right)
21 March 2024