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About the Training
Tax considerations play a critical role in shaping private equity and M&A transactions, influencing everything from deal structuring and fund formation to acquisitions and exit strategies. With increasing cross-border capital flows and greater regulatory scrutiny, investors and deal professionals must navigate complex frameworks while ensuring tax-efficient structures. This masterclass provides practical insights into the tax implications of private equity deals, M&A transactions, and global investment structures across key jurisdictions.
The program will explore tax structuring strategies, regulatory developments such as GAAR and BEPS, and commonly used investment routes including Singapore, Mauritius, and GIFT City. Participants will also examine tax considerations in acquisitions, fund structures, and exit planning including IPOs, secondary sales, and ESOP liquidity through practical frameworks and real-world case discussions relevant to today’s private market ecosystem.
Overview
• Understand tax structuring strategies in private equity and venture capital transactions
• Learn how cross-border investment routes such as Singapore, Mauritius, and GIFT City impact deal taxation
• Gain practical insights into tax considerations in M&A transactions including share vs asset purchases
• Explore regulatory developments including GAAR, BEPS, and evolving AIF frameworks
• Examine tax implications of secondary transactions, continuation funds, and fund restructuring
• Understand exit taxation strategies across IPOs, secondary sales, buybacks, and ESOP liquidity
• Real-world case discussions on structuring global PE investments and acquisitions
Agenda
10:00 AM onwards
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10:00 AM – 12:00 PM
Tax Structuring in Private Equity Deals: India & Cross-Border Capital- Ritu Shaktawat, Partner, Khaitan & Co.
Focus Areas -
- Tax implications of primary vs secondary transactions
- Structuring investments through Singapore, Mauritius and GIFT City
- Impact of GAAR and BEPS regulations
- Tax considerations in continuation funds and secondary exits
- Case study: structuring a cross-border PE investment
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12:00 PM – 2:00 PM
Tax Considerations in M&A Transactions
Focus Areas -
- Tax diligence frameworks in acquisitions
- Share purchase vs asset purchase structures
- Tax optimisation in strategic acquisitions
- Capital gains and withholding tax implications
- Lessons from recent large PE-backed acquisitions in India
10:00 AM onwards
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10:00 AM – 12:00 PM
Tax Strategy for PE/VC Fund Structures- Vishal Lohia, Associate Partner, Dhruva Advisors India Pvt. Ltd.
Focus Areas -
- Structuring PE/VC funds in India vs offshore jurisdictions
- LP taxation and carried interest
- Tax implications of fund restructuring and continuation vehicles
- Regulatory updates for Alternative Investment Funds (AIFs)
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12:00 PM – 2:00 PM
Exit Taxation & Secondary Liquidity Strategies
1. Ms. Ipsita Agarwalla, Leader – International Tax Practice and Funds Formation Practice
2. Ms. Khyati Dalal, Leader – Private Equity and M&A PracticeFocus Areas -
- Tax considerations in IPO exits
- Secondary share sales and buybacks
- Structuring exits for global PE investors
- Tax planning for ESOP liquidation and founder exits
Experts
Ritu Shaktawat
Partner, Khaitan & Co
Ritu Shaktawat
Partner, Khaitan & Co
Ritu Shaktawat is a Partner at Khaitan & Co in Mumbai. She is a lawyer and a chartered accountant and has been part of the Firm’s tax practice since 2006. Being in the profession for over 19 years, Ritu focusses on matters involving transaction tax advisory, structuring and documentation of domestic, cross-border and global M&A deals having an India leg; complex interpretational issues pertaining to bilateral tax treaties; income characterisation and permanent establishment (Indian taxable presence of foreign entities) aspects in third party and intra-group business arrangements; and India entry structures.
She regularly advises PE / VC funds as well as strategic players on their India investment and divestment structures across sectors involving diverse set of commercial considerations. Ritu has also been advising clients on new age issues such as rules with respect to place of effective management of a foreign entity resulting in deemed tax residence in India and evolving anti-abuse regime under domestic law and bilateral tax treaties. Over the years, Ritu has developed a deep understanding of transactional tax and structuring issues, which she supplements with practical inputs and commercially sound solutions. Ritu has been recognized as a Notable Practitioner, Women in Tax Leader by ITR World Tax 2026 Rankings and as a “Recommended Lawyer” in the Legal 500 Asia Pacific Rankings.
Vinita Krishnan
Executive Director, Khaitan & Co
Vinita Krishnan
Executive Director, Khaitan & Co
Vinita Krishnan is an Executive Director in the Khaitan & Co, Mumbai. A Chartered Accountant with over 19 years of experience, she advises clients on a wide range of domestic and international tax matters. Prior to joining Khaitan & Co, she was with EY India. Vinita is a well-regarded professional who has been recognized as a Recommended Lawyer in Legal 500 and as a Notable Practitioner in the Women in Tax Leaders rankings by ITR World Tax.
Ipsita Agarwalla
Leader, Nishith Desai Associates
Ipsita Agarwalla
Leader, Nishith Desai Associates
Ipsita is currently working a leader in the Tax and Fund Formation
Practice of the research and strategy driven law firm, Nishith Desai
Associates. She is based in New Delhi, India.
Khyati Dalal
Leader - Private Equity and M&A Practice, Nishith Desai Associates
Khyati Dalal
Leader - Private Equity and M&A Practice, Nishith Desai Associates
Khyati is currently working a leader in the Private Equity and M&A
Practice of the research and strategy driven law firm, Nishith Desai
Associates. She is based in Dubai, UAE.
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