Khaitan & Co. dvised Somany Foam Limited in relation to business transfer agreement with Godrej & Boyce with respect to sale of SFL’s PU Foam business to Godrej & Boyce by way of a slump sale. The transaction involved transfer ofemployees, transfer of lease of SIDCUL land, along with other related assets and liabilities of PU Foam business to Godrej & Boyce, including the PU foam manufacturing plant of SFL.

Godrej & Boyce is a part of the diversified business conglomerate Godrej Group, and has a diverse range of products and services ranging from locks to aerospace, furniture to construction, appliances to custom-built critical equipment, among others. SFL is a part of Hindusthan National Glass & Industries Ltd (HNG Group).

KCO was involved in Legal counsel to SFL and assisted in deal documentation, negotiations, transaction advise on the Transaction, including real estate and other aspects of the Transaction.

Concerned Partners from Corporate were Bhavik Narsana (Lead Partner) &Abhishek Sharma from Real Estate.

“We are delighted to have assisted SFL in this transaction. The deal will help Godrej & Boyce add PU foam manufacturing business to their existing home and office furniture business and have an inhouse arm for manufacturing of foam for its furniture business. Our strong past experience in advising on business transfers helped us in providing practical advice to the client”, said Bhavik Narsana, Partner, Khaitan & Co.