Veritas Legal and Economic Laws Practice (ELP) advised on ₹1,242.5 Crore acquisition of Prozone mall assets by Inorbit Malls.

Inorbit Malls India Pvt. Ltd., part of the K Raheja Corp group, is acquiring commercial retail assets from Prozone Realty Limited through the acquisition of material subsidiaries, in a transaction valued at approximately INR 1,242.50 crore.

The assets include operational retail malls comprising approximately 1.2 million sq. Ft. Of leasable space across Chhatrapati Sambhajinagar and Coimbatore.

Veritas Legal advised Inorbit Malls in relation to the proposed acquisition.

Founding and Managing Partner Abhijit Joshi provided strategic inputs and overall guidance on the deal.

The transaction team comprised Kunal Doshi and Sneha Nagvekar, along with Parshva Doshi, Aryan Mehta, and Ishan Mhapsekar.

Real estate aspects were led by Rustam Mulla and Nainaaz Irani, with support from Naznin Fakih, Ashwin Mehta, and Clarissa D’Lima. The due diligence team comprised Akriti Gupta, Afrrin Advani and Vidhi Basrani.

ELP acted as legal counsel to Prozone Realty Limited and its subsidiaries in relation to the divestment.

The transaction is led by Managing Partner Suhail Nathani and Partner Manendra Singh, with support from Associate Partner Tanvi Goyal, Principal Associate Smriti Tripathi, Senior Associate Ambareen Khatri, and Associate Hetvi Parikh.

Real Estate support was given by Partner Anshuman Jagtap, supported by Principal Associate Preksha Kanungo and Associate Akshaan Kanuga. The direct tax support was given by Partner Dipesh Jain, Associate Partner CA Sumeet Agrawal, and Associate Saiyam Jain.