Law firms Khaitan and CMS IndusLaw provide legal assistance for Meesho's successful reverse takeover transaction
In a significant move for the Indian e-commerce sector, Meesho, a leading online marketplace, has announced its redomiciling from the US to India. This transition, which will empower small businesses and individual entrepreneurs in the e-commerce space, is a testament to the growing potential of the Indian digital economy.
Behind the scenes, a team of legal experts from Khaitan & Co and CMS IndusLaw has been instrumental in facilitating this complex corporate restructuring. The role of these firms involved providing counsel on regulatory compliance, tax structuring, corporate law procedures, and approvals, including navigating the National Company Law Tribunal (NCLT) process for approvals.
Meesho's relocation involved a demerger of its Indian operations from its US parent entity and a subsequent merger under its Indian arm. This intricate process required legal expertise to align the corporate structure with Indian regulations and business operations. While the specific roles or team members from these firms involved in the transactions are not explicitly mentioned in the search results, it is standard for Khaitan & Co to act as one of the leading Indian law firms on such corporate restructurings, and for CMS IndusLaw to provide complementary expertise, especially on cross-border and tax matters.
A key milestone in the redomicile process was Meesho securing NCLT approval to relocate its headquarters from Delaware to India. This approval was necessary for pursuing its IPO planned for late 2025. The company is also paying approximately $288 million in taxes as part of the redomiciliation, a standard fiscal requirement for companies exiting the US jurisdiction.
The transaction team from Khaitan & Co included BharatAnand (Senior Partner), NidhiKillawala (Partner), Ishaan Chopra (Senior Associate), and Sakshi Garg (Associate). On the other hand, the team advising Elevation Capital consisted of StutiAgarwal (Partner), Nishihi Shah (Principal Associate), Aparimita Choudhary, and Akrama Javed. PranjalPrateek (Partner) from Khaitan & Co advised on the competition law aspects of the transaction.
While SAM and IndusLaw also acted on a separate reverse flip, this information is not directly related to the Meesho redomiciling. Suneeth Katarki, Founding & Senior Partner, and Kaushik Mukherjee, Partner, provided strategic inputs for the Meesho redomiciling transaction. CMSINDUSLAW advised Elevation Capital and Peak XV Partners in relation to this separate reverse flip, but details about the transaction are not provided.
Khaitan & Co also advised Softbank Vision Fund on the regulatory aspects of this reverse flip, as well as the review, negotiation, and finalization of the composite scheme of merger and demerger, and transaction documents.
This legal collaboration has been essential in ensuring Meesho’s smooth transition of domicile, aligning its legal structure with its operational footprint in India, and enabling its forthcoming IPO plans. The redomiciling will be achieved through a merger of Meesho Inc. into and with Meesho, an Indian entity. As Meesho continues to grow and shape the Indian e-commerce landscape, the role of its legal team and advisors will undoubtedly remain crucial.
- The legal teams from Khaitan & Co and CMS IndusLaw played a crucial role in Meesho's redomiciling from the US to India, providing counsel on various aspects such as regulatory compliance, tax structuring, and corporate law procedures.
- As part of the complex corporate restructuring, Meesho secured NCLT approval in order to realign its legal structure with its operational footprint in India, which is essential for its forthcoming IPO plans in late 2025.
