Cyril Amarchand Mangaldas has advised Larsen & Toubro Limited (L&T) on a proposed scheme of arrangement with L&T Realty Properties Limited (LTRPL) and their respective shareholders under Sections 230–232 of the Companies Act, 2013.
The scheme provides for the transfer of L&T’s realty undertaking to LTRPL as a going concern on a slump sale basis. In consideration, equity shares of LTRPL will be issued to L&T, alongside a reorganisation of LTRPL’s share capital. This marks the beginning of a phased consolidation of all real estate assets and undertakings of L&T into LTRPL, creating a unified, future-ready entity positioned to capitalise on India’s real estate growth.
The transaction team was led by Senior Partner L. Viswanathan, Senior Advisor Sudhir Kapadia, and Partner Bhargav Joshi, with support from associates Saumya Sharma, Ayushi Agarwal, and Arushi Kankariya. Disputes aspects were overseen by Partner Indranil Deshmukh, supported by Tapan Deshpande and Aekaanth Nair.
Real estate aspects were advised by Partners Ashish Jain, Edward James, Rishiraj Bhatt, Abhilash Pillai, and Siddharth Singh, assisted by a team of principal associates, senior associates, and consultants. Employment aspects were handled by Partner Ankita Ray with her team, while competition law was advised by Partner Kaustav Kundu. Capital markets aspects were led by Partners Devaki Mankad and Manan Lahoty, supported by associate Hitesh Nagpal.
This consolidation underscores L&T’s strategic intent to streamline its real estate portfolio under LTRPL, strengthening its ability to deliver scale, efficiency, and long-term growth in India’s evolving property market.
