Law firm Cyril Amarchand Mangaldas offers counsel to JSW Steel in purchase of Saffron Resources
In a significant move, JSW Steel Limited has acquired Saffron Resources Private Limited's entire shareholding. The transaction was led by Rishiraj Bhatt and Molla Hasan, with Gayatri Shanker providing advice on incidental infrastructure aspects of the deal.
The acquisition grants JSW Steel access to approximately 887 acres of land held by Saffron Resources in the Dhenkanal District, Odisha. This land may be utilised for future expansion projects by the steel giant.
The legal team at Cyril Amarchand Mangaldas advised JSW Steel on the acquisition. Alongside Rishiraj Bhatt and Molla Hasan, Abhilasha Malpani, Rohan Shah (Principal Associate, Designate), Shivom Sharma, Sajith Anjickal, Sanskruti Kulkarni, Miloni Mau, and Shrutika Salvi (Consultant) were part of the transaction team.
Rishiraj Bhatt and Vaibhav Suri advised on the title due diligence of the land for the deal. However, the name of the lawyer who handled the competition law advice related to the acquisition remains undisclosed.
Dhruv Rajain, Partner, advised on competition law aspects of the transaction, ensuring compliance with the relevant regulations. Unfortunately, no new information was provided regarding the title due diligence or corporate diligence aspects of the deal.
It is yet to be seen how this acquisition will impact the steel industry and JSW Steel's future expansion plans. The acquisition process and any further details remain undisclosed at this time.
As for the submission process for publications on Bar & Bench, no new information was provided in the given text.
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