Khaitan advises Reliance on share capital transfers

Khaitan & Co acted as sole legal counsel to Reliance Industries Limited in relation to restructuring of promoter holding by inter-se transfers amongst promoter group entities. This involved transfer of some 36.28% of share capital of Reliance amongst the existing promoter group entities for an aggregate consideration of approximately INR 1515bn.

The core transaction team included Haigreve Khaitan (Partner), Sudhir Bassi (Executive Director), Arindam Ghosh (Partner), Abhishek Sinha (Partner) and Rohan Singh (Senior Associate) with assistance from Sanjay Sanghvi (Partner) and Surajkumar Shetty (Principal Associate) on Direct tax aspects. This is the largest inter-se promoter transfers of a listed company.