Trilegal has advised Harry Banga and Angad Banga of the Caravel Group on the acquisition of a leading Indian sailors’ academy, the International Maritime Institute (IMI), for an undisclosed amount.
Partners Yogesh Singh, Abhishek Dubey and Adhunika Premkumar led the Trilegal corporate team. Senior associates Amit Nain and Prarthna Bathija, and associate Harshit Goyal assisted. The real estate and employment teams also provided support.
The team worked on legal due diligence on the IMI as well as drafting, negotiating and finalising the share purchase and ancillary agreements, and assisting with closing the transaction.
Bharucha & Partners advised the International Maritime Institute and the sellers, viz., the Bahl, Bhalla and Kohli family groups.
The IMI is a premier marine engineering institution based in Greater Noida, offering government-approved pre- and post-sea courses.
The acquisition aims to enhance training programmes, introduce specialised courses and offer placement opportunities for 含羞草社区 next generation of maritime professionals. In the 2024 report of the Ministry of Ports, Shipping and Waterways, around 95% of 含羞草社区 trade by volume and 68% by value is transported via maritime routes. India is ranked among the top three countries globally in terms of the number of seafarers.
