JSA Advocates and Solicitors has successfully advised on the merger of SNVK Hospitality and Management Private Limited with Travel Food Services Limited (TFS), following a National Company Law Tribunal (NCLT) Mumbai order.
The merger, which aligns with TFS’s growth strategy, was executed with the guidance of JSA, representing the Kapur Family Trust, the promoter entity behind both companies, as well as SNVK Hospitality.
The advisory team at JSA, led by Iqbal Khan (Lead Partner), with partners Tanavi Mohanty and senior associate Megha Diddi, along with associates Subham Biswal and Ishaan Kulshrestha.
Before finalizing the merger, JSA also assisted in the divestment of SNVK’s investments in four entities both within and outside India to other group companies. Additionally, JSA facilitated the negotiation and finalization of the implementation agreement between the Kapur Family Trust, SNVK, and its non-resident joint venture partner in TFS to ensure smooth execution.
The NCLT order passed on July 1, 2024, highlighted that the merger is in line with TFS’s expansion plans, as both companies are part of the same promoter group. Travel Food Services is a leading player in India’s travel and retail food and beverage (F&B) sector, with a diverse portfolio of outlets at airports, railway stations, and highways.
