Khaitan advises Ascendas on Flagship shares purchase

Khaitan & Co advised Ascendas India Trust and its affiliates in relation to purchase of 100% issued and paid-up share capital of Flagship Developers Private Limited, along with issuance of inter-corporate deposits to Flagship Developers Private Limited.

Ascendas India Trust is a property trust which owns seven IT parks in India. With a 11.2 million sq ft portfolio.

The core transaction team included Abhishek Sinha (Associate Partner); Tanushree Bhuwalka (Senior Associate); Nidhi Modani (Associate); Ashima Gulati( Associate) and Megna Sundar (Associate) with assistance from the following:

On the diligence aspects: Dinesh Agrawal (Executive Director); Mayank Jain (Senior Associate) and Pranay Sahay (Associate)

Assistance on the foreign exchange filings: Atul Pandey (Associate Partner) and Hirak Mukhopadhyay (Associate)