Khaitan and Co advised Hinduja Global Solutions on business transfer agreement with Teklink Software
Khaitan and Co advised Hinduja Global Solutions on business transfer agreement with Teklink Software
The execution and closing of the transaction were done under BTA along with other ancillary documents
Khaitan and Co. has advised Hinduja Global Solutions Limited (HGSL) in relation to a business transfer agreement with Teklink Software Private Limited (TSPL) to purchase its business undertaking.
TSPL provides services related to the development and implementation of data and analytics and extended planning and analysis solutions as a going concern on a slump sale basis. This is in compliance with the provisions of the Income Tax Act, 1961.
Publicly listed, Hinduja Global is one of India’s leading companies engaged in the business of providing business process management services.
On the other hand, Teklink Software, the Indian company having its registered office in Delhi, is a wholly-owned subsidiary of Teklink International Inc USA. It provides services pertaining to the development and implementation of data and analytics and extended planning and analysis solutions.
Meanwhile, Hinduja Global CX Technologies Inc (an affiliate of HGSL) has also entered into a stock purchase agreement with Teklink International to purchase its 100 percent shares. The business transfer agreement also involved other ancillary documents executed between Hinduja Global and Teklink Software.
Khaitan & Co was involved in:
(a) Acting as legal counsel to HGS for the overall transaction (including negotiating, drafting, and reviewing of BTA and stock purchase agreement (from an Indian law perspective));
(b) Conducting due diligence on corporate, corporate finance, regulatory, litigation, insurance, intellectual property, contractual, real estate, information technology and data privacy aspects of the company;
(c) Assisting with the execution and closing of the transaction under the BTA along with other ancillary documents.
Other legal advisors included global counsel for HGS - DLA Piper Singapore Pte. Ltd and India counsel for TSPL - SPN Advisors.
The core team of Khaitan & Co advising on the deal comprised Ashraya Rao (partner), Bhavya Bhankharia (senior associate), Srikanth Bhaskar (associate), and Vaishanshi Bhardwaj (associate).
