Jurisdiction - China
Rajani, Singhania & Partners Acts In Reliance Ind In Venture With China’s Shandong Ruyi Science.

15 January, 2015


Rajani, Singhania & Partners have acted as Indian Legal Counsel to Shandong RuYi Science and Technology Group Co Ltd for their participation (through its wholly owned subsidiaries i.e. Singapore based entity CSTT Co Holdings Pte Limited (“CSTT“) and Indian based entity Georgia Gullini Fashions Private Limited (“GGFPL“) in the ownership of the Textile Business of Reliance Industries Limited (“RIL“) on a joint venture basis.


RIL would initially hive off its textile business (being RIL group’s oldest business) to a special purpose vehicle (“SPV“) incorporated by RIL by way of slump sale. In this SPV, RIL will own a majority 51% stake, with the balance 49% to be owned by CSTT (RuYi). Each Party in the SPV would license on an exclusive basis its respective brands/ trademark to the joint venture i.e. the SPV.


The transaction team was led by partner Prem Rajani.


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