Law firm Shardul Amarchand Mangaldas assists Rane Group in selling land worth ₹361.18 crore to Canopy Living.
In a significant transaction, Shardul Amarchand Mangaldas & Co has advised Rane (Madras) Limited on the strategic sale of a portion of its land in Velachery, Chennai, Tamil Nadu. The sale, worth ₹361.18 crore, was made to Canopy Living LLP.
The transaction team from Shardul Amarchand Mangaldas & Co was led by Dorothy Thomas, who was recently elevated to Equity Partner at the firm. The team also included Pirabu Mohan, Raghavi Raj, Harikrishnan S, and Madhumitha Christina.
The land parcel that was sold measures approximately 3.48 acres. However, Rane (Madras) Limited retains a balance portion of the total 4.5 acre land at Velachery. The remaining portion, approximately 0.92 acres, will be used by Rane (Madras) Limited to construct a new office facility.
This new office facility will integrate city offices of various divisions for Rane (Madras) Limited. The sale does not affect the plans of the company to construct this new office facility.
Dorothy Thomas, who led the transaction team, has recently been involved in the Rane Group's significant land sale transaction. This is one of the latest publicly reported client engagements involving her at the firm.
Pirabu Mohan, who was a part of the transaction team as Counsel, also played a crucial role in the successful completion of the deal.
The strategic sale involved only a portion of the total land owned by Rane (Madras) Limited at Velachery. The company plans to continue its operations and growth on the remaining land.
This sale marks a significant step for both Rane (Madras) Limited and Shardul Amarchand Mangaldas & Co, as they continue to make strides in their respective fields.
Dorothy Thomas, the newly appointed Equity Partner at Shardul Amarchand Mangaldas & Co, led a team that assisted in the sale of Rane (Madras) Limited's real-estate business, which involved a portion of their land in Velachery, Chennai. Pirabu Mohan, a Counsel in the same firm, also contributed significantly to the successful investing and finance endeavors related to the transaction.
