Cyril Amarchand Mangaldas (CAM) and Trilegal advised on Jindal Power’s acquisition of Jhajjar Power Limited.

Jindal Power Limited, through its wholly owned subsidiary Jindal Jhajjar Power Limited, has acquired 100% shareholding of Jhajjar Power Limited from Apraava Energy Private Limited and its affiliates following a competitive bid process. Jhajjar Power Limited owns a 1320 MW coal-based thermal power plant with a flue gas desulphurisation unit located in Jhajjar, Haryana, and is one of India’s early supercritical thermal projects, commissioned in 2012.

The transaction involved the acquisition of 100% of equity shares and compulsorily convertible preference shares of Jhajjar Power Limited from Apraava Energy Private Limited, Apraava Renewable Energy Private Limited and Kohima Mariani Transmission Limited, marking one of the significant recent thermal power sector divestments in India.

CAM advised Jindal Power Limited on the acquisition of Jhajjar Power Limited.

The transaction team was led by Partner Manasvini Raj, with assistance from Associates Pratiti Shah, Pratima Barde and Nishra Sejpal. Senior Partner L. Viswanathan and Partner Manmeet Singh provided strategic guidance.

The due diligence exercise was led by Partner Manasvini Raj with assistance from Principal Associate Apoorv Jain, Associates Pratiti Shah, Saurabh Sharma and Nishra Sejpal.

Regulatory due diligence was led by Partner Vishal Binod with support from Senior Associates Aditya Dubey, and Sagnik Maitra and Associate Rashika Bhardwaj.

Land and land disputes due diligence was led by Partners Ashish Jain and Alok Shankar with support from Principal Associate Shorya Choudhary, Associates Rishita Khandelwal and Ruchika Prabhu.

Competition law aspects were advised by Partner Dhruv Rajain with support from Associate Vanya Agarwal.

Employment incentives-related inputs were provided by Partner Bharath Reddy.

Trilegal advised Apraava Energy Private Limited (AEPL) on the divestment of its 1,320 MW Jhajjar Power Project to Jindal Jhajjar Power Limited.

The transaction team was led by Partner Neeraj Menon and Partner Delano Furtado, supported by Counsel Saumya Kakar and Counsel Kaneeka Mehta, and Associates Pranika Correa and Punit Sanwal.

The Projects team was led by Partner Neeraj Menon with support from Counsel Kaneeka Mehta, and Associates Manasvi Sharma, Yashaswi Belani and Ayush Mundra.

The Corporate team was led by Partner Delano Furtado with support from Counsel Saumya Kakar, and Associates Pranika Correa, Rhea Almeida, Ridhi Shetty and Punit Sanwal.

The Banking & Finance team was led by Partner Joseph Jimmy with support from Counsel Parinaz Vaidya, Senior Associate Jinay Padh, and Associates Yajat Bansal and Shreyaa Mohanty.

The Real Estate team was led by Partner Rahul Arora with support from Counsel Abhinav Mishra and Associate Saraswati C. Rawandale.

The Litigation team was led by Partners Tine Abraham and Janmali Manikala with support from Counsels Girik Bhalla and Aayush Marwah, Senior Associates Damodar Solanki and Pundrikaksh Mitruka, and Associate Romi Kumari.

The Anti-trust team was led by Partner Gautam Chawla with support from Senior Associate Madhav Kapoor.

The TMT team was led by Partners Jyotsna Jayaram and Thomas Vallianeth with support from Senior Associate Sidharth Ray and Associate Anushka Gupta.

The Tax team was led by Partners Himanshu Sinha and Komal Dani with support from Counsel Rohit Kumar S, Senior Associate Anjani Kumar and Associate Shreyas U.