JSA advised and assisted Jain Resource Recycling Private Limited (“JRR”), a company which has in-depth experience in metal recycling and manufacturing and has presence in almost 20 countries. JRR acquired majority stake in the UAE based Jain Ikon Global Venture (“Company”) from Ikon Square Limited. As part of the strategic partnership, the Company will operate a gold refining plant at UAE to process raw materials such as gold dore bar, gold powder and old jewellery to make gold bar of minimum 99.95% purity.
The JSA transactions team was involved in the structuring the transaction, advising on the issues pertaining to overseas direct investment and consequent review, negotiations and finalizing of the documentation in relation to the transfer of shares from Ikon to JRR. The JSA tax team advised JRR on the tax and transfer pricing related issues.
Our Transaction Team Comprised Lead Partner – Trisheet Chatterjee, Partner – Sarvesh Kumar Saluja, and Associate – Neeral Jain.
Our Tax Team Comprised Partner – Kumarmanglam Vijay.
Kumarmanglam is an equity partner of the firm and also heads the direct tax and regulatory practice at JSA. He has more than 25 years of experience in matters relating to direct taxation (including international taxation, transfer pricing, litigation, anti-avoidance laws, and M&A tax), accounting, and corporate laws including mergers and acquisition, joint ventures, foreign investments, market entry strategy, and corporate restructuring.