Economic Laws Practice (ELP) advised Anglo French Drugs & Industries Limited (AFDIL),  AFD Laboratories Private Limited and Mr. Abhay Kanoria (“Sellers”) on the sale of a portfolio of brands owned by them to Lupin Limited.

The transaction team consisted of Suhail Nathani (Managing Partner), Aakanksha Joshi (Partner), Taskeen Hamid (Counsel), Shenaya Ardeshir & Pranaav Gupta  (Associates). ELP’s Adarsh Somani (Partner) and Sahil Kothari (Principal Associate) advised the Sellers on indirect- tax related aspects of the deal.

In its disclosure to the stock market, AFDIL stated that proceeds from the brand sale would be utilised towards research and development of newer brands/products and the upgradation of its manufacturing facilities.

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