Practice Leaders

Banking & Finance

We have acted as lenders’ legal counsel in banking and finance transactions worth US$ 1893.553 million (Rs. 12,623 crore). Our banking and finance lawyers are energy and infrastructure sector specialist. We provide legal advice to the borrowers and the lenders in domestic and international financing. Our project finance lawyers conduct pre-investment due diligence reviews, drafting of agreements and negotiation support, assistance with regulatory compliance and governance. We act as lenders legal counsels for domestic and overseas banks, financial institutions and private equity organizations. Our banking and finance lawyers have experience in Project finance, debt restructuring, refinancing, external commercial borrowing, corporate finance, structuring of loans, revolving credits, working capital guarantee facilities, security offered, assessment of stamp duty, registration implication and legal audit. Our project finance lawyers also undertake drafting of term sheets and transactional documents, related to borrowing from banks, financial institutions including drafting of financing agreements, inter-creditor issues, Escrow Arrangements, Trust and Retention Account Agreements, Security Trustee Contracts & Hypothecation Deeds, Mortgage related documents, Share Pledge Agreements and Cost Overrun Agreements. We also represent companies before the Courts & Debt Recovery Tribunals and in Bank Guarantee disputes.

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Recent Transactions

ACME Solar Holdings Pvt. Ltd-Lenders’ Legal Counsel for the financial assistance of US$ 58 million (Rs. 386.66 crore) (approx.) availed by ACME companies PAN India for setting up Solar PV Power Projects worth US $91 million (Rs. 606 crore))(approx.)promoted by ACME Solar Holdings Pvt. Ltd.

Axis Bank – Advised a consortium of 21 banks led by Axis Bank for the Term Loan Facility of an aggregate sum of US$ 500 million (Rs. 3250 crore) including a subordinate Debt Facility of US $100 million (Rs. 650 crore) for the phase V expansion of Bhushan Power & Steel Limited’s integrated Steel Plant at Orissa, India. The mandate included drafting of the loan and security documents, creation of securities, and advice on legal compliances for loan disbursement.

Legal counsel to a consortium of lenders lead by the bank in respect of financial assistance of US $39.23 million (Rs. 255 crore) to Bright Enterprises Private Limited for developing a mixedusage project comprising 288 rooms 5 star hotel and luxury retail space of about 2 lakh sq. ft. over about 8 acres of land situated at 10-15, Doddenakudi Industrial Area, Whitefield, Bengaluru, Karnataka with an estimated Project Cost of US$73.66 million (Rs. 478.79 crore).

IND Barath Power (Madras)-Advised a consortium of lenders lead by PFC in respect to financial assistance of US$138.46 million (Rs. 2655 crore) to IND Barath Power (Madras) Limited for setting up 600 MW (1 x660) coal based thermal power project at Tuticorin District in the State of Tamil Nadu.

Industrial Development Bank of India (IDBI) – Corporate loan of US$115.38 million (Rs. 750 crore) from consortium of banks with IDBI Bank as the lead bank to JSW Energy Ltd.for refinancing of an existing term loan from ICICI Bank and for the capital expenditure requirements of the company.

Term loan of US$58 million (Rs. 377 crore) to Pipavav Shipyard Ltd. for their shipyard project at Pipavav, Gujarat for (a)augmentation of the ship-building facilities for building naval ships, (b) creating facilities for fabrication of off-shore structure, and (c) meeting the long-term working capital margin requirements.

Advised consortium led by IDBI as lead bank for drafting of financing documents, creation of security, due diligence of assets secured and execution of final documents for term loan of US$138.46 million (Rs. 900 crore) to JSW Steel Limited for the project envisaging setting up of 6 units of 500 tph Benefaction Plants and 4.2 mtpa Pellet Plant at Vijay Nagar, Karnataka. Also rendering legal opinions on all matters relating to the financing.

MytrahAgriya Power Private Limited Lenders’ Legal Counsel for the financial assistance of US$42.342 million(Rs. 279.48 crore)availed by MytrahAgriya Power Private Limited for setting up a 50 MW (57.5 MWp) Solar PV Power Project in , Telangana, India promoted by Mytrah Energy (India) Private Limited in a project worth US$56.013 million (Rs 372.64 crore).

ParbatiKoldam Transmission Company Limited-Financial assistance of US $169.23 million(Rs. 1100 crore) to ParbatiKoldam Transmission Company Limited for developing, a transmission lines for evacuation of power.

Power Finance Corporation (PFC)

State Bank of India – Bhushan Power and Steel Ltd for the Term Loan Facility of an aggregate sum of US $732.31 million (Rs. 4760 crore) including a subordinate Debt Facility US$46.15 million(Rs. 300 crore) for the company’s Phase VI expansion of its integrated Steel Plant at Orissa, India.

Rupee Term Loan Facility of US$115.38 million (Rs. 750 crore) given to Bhushan Power and Steel Ltd. for shoring up of Net Working Capital and repayment of high cost debt.

Term-loan of US$15.38 million (Rs. 100 crore) availed by Jubilant First Healthcare Trust Ltd. for setting up a multi-speciality hospital in Howrah and 8 spoke hospitals in and around Kolkata.

Uninor-Borrower’s Counsel for drafting of financing and security agreements pursuant to a Loan & Guarantee facility aggregating US$307.69 million (Rs. 2000 crore), sanctioned to Uni tech Limited Group Companies for License fee and guarantees for submission to the Department of Telecommunications, Govt. of India in terms of the Unified Access Services Licenses issued for providing mobile telephony services in various circles. SBI Caps was the loan arranger in the transaction and Punjab National Bank the lead lender.

 

Clients Speak

We were having extensive contractual difficulty with a large Indian Government institution. They were very prompt in responding to our request and they immediately went to work in providing us with exceptionally clear, thorough and knowledgeable information about our case. The information they provided enabled us to return to the government entity and to work through a most difficult administrative, and threatening to be legally-problematic, situation. We were treated like an old, valued and highly-regarded client. Their fee structure was also reasonable.

-Tom Pasakarnis, Janis Research Company

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