The Indian full-service law firm, SNG & Partners acted as legal advisor to Josts Engineering Company Limited and its promoters in relation to the sale of 100% shareholding of its material subsidiary, JECL Engineering Limited, to Mr. Rahul Dhoot.
The transaction was approved by the Board of Directors of Josts on February 5, 2026, and remains subject to shareholders’ approval by way of special resolution through postal ballot, along with completion of conditions precedent. Upon completion, JECL will cease to be a subsidiary of Josts.
JECL houses Josts’ Material Handling Division (MHD), which was carved out as a wholly owned subsidiary in FY2023. The proposed divestment forms part of Josts’ long-term strategic realignment to optimise capital allocation and focus on scaling its Engineering Products Division (EPD), which has shown strong growth momentum in recent years. The transaction will also enable Josts to reallocate managerial and financial resources toward expanding its engineering services footprint and unlocking value from non-core assets.
The mandate included advising on and negotiating the Share Purchase Agreement, brand assignment documentation, trademark licence arrangements, transition services arrangements, and other ancillary definitive agreements. The Firm also advised on regulatory and corporate law aspects, including compliance under the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, given the disposal of a material subsidiary and undertaking.
The SNG & Partner transaction was executed under the strategic guidance and oversight of Aditya Vikram Dua (Partner & Head – Financial Services).
The deal was led by Chandra Shekhar Mishra (Associate Partner), with support from Mohit Goyal (Associate), Aditi Mishra (Associate), and Arjun Khanna (Associate).
