Argus Partners advised Liquidator of Concast Steel & Power Ltd led by a team of senior partner R Sudhinder, equity partner Soorjya Ganguli, partner Pooja Chakrabarti, partner Arka Majumdar,

Noida-based SMCPower Generation Ltd has acquired the main steel mill and power plant of Concast Steel and Power Ltd under the liquidation process with an upfront payment of ₹300 crore to lenders, said three people familiar with the matter. This is the largest acquisition under the liquidation stage so far in the Insolvency and Bankruptcy Code, 2016.

— Mint

Argus Partners advised Liquidator of Concast Steel & Power Ltd led by a team of senior partner R Sudhinder, equity partner Soorjya Ganguli, partner Pooja Chakrabarti, partner Arka Majumdar, associate Debjyoti Saha.

Khaitan & Co advised SMC Power Generation Limited led by a core transaction team of partner Ashwin Bishnoi, partner Tanvi Kumar and senior associate Nikita Bhuwania; due diligence assistance by associate Pranay Kapoor; real estate aspects by partner Avnish Sharma and principal associate Punit Bhuwania; direct tax aspects by partner Indruj Rai; indirect tax aspects by partner Kabir Bogra.

10 July 2020: Khaitan team updated.

Deal value: Confidential

Deal dated: 15 February 2020 (completion)

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