Khaitan & Co acted as domestic legal counsel to the Government of India in relation to the offer for sale of equity shares of MOIL Ltd, representing 10% of its paid-up share capital, held by the President of India, acting through and represented by the Ministry of Steel, Government of India, through stock exchange mechanism for some $72m.

MOIL (formerly Manganese Ore India Ltd) is a mini-ratna state-owned manganese-ore mining company.

The core Khaitan team included Sharad Vaid (Partner) and Shilpi Jain (Counsel) who represented the client on the transaction. The deal team also included Sudhir Bassi (Executive Director) and Madhur Kohli (Associate Partner).