Khaitan & Co advised Airovient Fans & Systems Private Limited (Airovient) in relation to its asset transfer arrangement with Elta India Fans India Private Limited (Elta India). The transaction involved the selling of certain identified assets of Airovient’s business of manufacturing and assembling of ventilation, filtration and air movement products. The second leg of the transaction involved advising the promoters of Airovient in relation to the setting up and structuring of a 40:60 joint venture with the Elta Group. This is the Elta Group’s first investment in India. Padam Khaitan (Partner), Supratim Chakraborty (Associate Partner), Shourya Sengupta (Associate) and Nikita Bhuwania (Associate) represented the client on the transaction. Airovient is one of the leading car park ventilation service providers.
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