AZB & Partners acted for the Resolution Professional (Pulkit Gupta and EY) in the successful resolution of Vadraj Cement Limited, a company which was languishing with the official liquidator (under the old winding up regime) for more than 6 years, before the High Court transferred it to the NCLT, Mumbai to be resolved under the IBC. The CIRP commenced on February 02, 2024, the NCLT approved the resolution plan on April 01, 2025. The plan stood fully implemented last weekend, with Nuvoco Vistas Corporation Limited (Nirma group) acquiring the company and resolving more than INR 9,600 crores of debt, making it one of the largest resolutions in the cement sector under IBC.

Our AZB team comprised of Partner Suharsh Sinha, Partner Amrita Sinha, Senior Associate Kushagra Pandey, and Associates Rahul Thomas, Idhika Agarwal and Rashi Priya – with support on all on-going litigations in Mumbai and Delhi from our Senior Partner Anindita Roy Chowdhury, Partner Vivek Shetty, Senior Associates Aditi Bhansali, Nishant Upadhyay, Associates Akilesh Menezes, Sushrut Garg and Aditi Nazre.

The team was supported by Associates Simrann Venkkatesan, Shambhavi Shivdikar, Swagata Mukopadhyay, Vishal Choudhary, Jigme Palzer Tshering and Articled Clerk Manann Bhoota on the due diligence, by our Partner Qais Jamal and Associate Prashant Munshi on mining related aspects; by Partner Aditya Singh Chandel and Associate Akshat Jain on tax-related matters; by Partner Ajay Singh Solanki on employment-related matters.

Special thanks to our Co-Founder & Senior Partner Bahram Vakil and Senior Partner Nilang T. Desai for their tactical guidance on various issues.