Banking & Finance
The Firm has established itself as one of the leading players in the country in the Banking and Finance (B&F) practice area and caters to a mix of B&F products spread across projects and infrastructure financing, acquisition and leverage finance, structured finance, global loans, restructuring, external commercial borrowings, asset securitisation, debt capital markets, working capital, aviation financing, real estate loans and general corporate loans, and various regulatory issues pertaining to the area.
The Firm has on its roster of clients all of India’s top Banks, Financial Institutions, NBFCs and global lenders like US Ex-Im, KfW, multiple investment funds, mutual funds, custodians, asset management companies, trusteeship companies and domestic companies.
The practice is involved in some of the largest and complex transactions, requiring exhaustive knowledge of the Indian finance market and its legal framework, our counsels are also involved in a large number of cross-border financing transactions and on account of that have developed a deep understanding of international regulations, industries and legal & financial techniques.
Our interaction with the Reserve Bank of India (India’s Central Bank who is responsible for regulating various financial intermediaries including banks and NBFCs), and various other participants in the Indian B&F space has provided us with knowledge & understanding, of regulatory issues & expectations enabling us to address client requirements within the contours of an evolving regulatory framework.
Due to the unique mix of our clients (with lenders, borrowers and other participants like arrangers and trustees), the practice has a deep understanding of different client requirements and is able to provide bespoke solutions for challenging situations.
Akshit Kapoor has extensive experience in areas of real estate laws, mergers & acquisitions, private client and family office practice, banking and finance, PE investments, insolvency and bankruptcy and corporate restructuring.
Akshit has represented and advised both Indian and International clients on general corporate matters, M&A, joint ventures and commercial contracts across various business sectors like health care, automobile, telecom, consumer goods sector etc.
He has closely collaborated with a wide range of international and domestic corporations, advising them on their business operations in both India and abroad. As being part of the Firm’s real estate practice, he has advised some of the largest real estate companies in India and has been involved in advising numerous international clients for their projects in India.
Akshit has represented and advised HNIs and HNFs, business owners, family offices, corporate fiduciaries as well as charitable and not for profit entities on restructuring, creation of trusts and wills, migration of residency and change in citizenship.
Akshit possesses a profound grasp of the intricate commercial and legal intricacies surrounding land ownership, land acquisition, land use and conversion, regulatory and approval matters, foreign investments, and more.
As part of the Firm’s insolvency and bankruptcy practice, Akshit has gone on to advise clients on exit strategies, refinancing, debt restructuring, distressed sale etc. Akshit specializes in representing distressed funds, bidders’/resolution applicants, lenders / Committee of Creditors, and insolvency professionals in the context of restructurings, insolvency resolution processes, and liquidations governed by the Insolvency and Bankruptcy Code, 2016.
Amrita graduated in 2010 and joined Luthra and Luthra Law Offices India as an Associate with the Real Estate Team. In 2013, Amrita secured the 7th rank in the prestigious Delhi Judicial Services Examination and served as a Metropolitan Magistrate in Delhi. During the course of her tenure in the Judicial Service, she presided over criminal courts in Patiala House and Tis Hazari Courts. In 2021, Amrita joined as a Partner in the Disputes Resolution Team at Luthra and Luthra Law Offices India. Her experience as a Trial Court Judge is an asset in ensuring due compliance with applicable principles of natural law and due process.
Amrita is primarily involved in advising and representing clients in disputes pertaining to Insolvency & Bankruptcy Code, arbitration, suits for recovery, property disputes, consumer laws, matters related to negotiable instruments, intellectual property and writ/public interest litigation, white collar crimes including corporate frauds, offences under the Indian Penal Code and anticipatory and regular bail applications
Ms. Tonk was featured in the special edition of the Insights Success Magazine on “Outstanding Women Lawyers 2022”. Ms. Tonk has been a panelist for discussion on “Representation of Women in Law and ADR” organized by WICCI, and an Expert Guest for the discussion on “Multi-Tier Arbitration Clauses” organized by Jindal Global Law School.
Ms. Tonk has also co-authored “Know your Legal Rights- A Handbook for Women” published by the CII-Indian Women Network in the year 2021.
- Represented the Promoters of a leading bicycle manufacturing company in an oppression and mismanagement petition before the National Company Law Appellate Tribunal (NCLAT) and the National Company Law Tribunal (NCLT).
- Representing a leading hydro power PSU in an arbitration pertaining to claims amounting to over INR 350 crore.
- Representing a client before the Hon’ble High Court of Delhi in a first of its kind dispute pertaining to the issue of bio similarity in the medical field.
- Representing a developer in an ongoing arbitration. The parties to the dispute are in the business of construction and development of real estate. The arbitration involves a claim from a leading real estate developer for an amount of over INR 500 crore. The team is representing one of the proposed Respondents in the matter and is dealing with the question of composite performance and lifting of the corporate veil in case of group companies.
- Defending an SLP on behalf of a leading real estate developer before the Hon’ble Supreme Court.
Deepak Kumar Thakur
Deepak is amongst the leading practitioners in the Projects, Energy and Infrastructure practice area with a vast experience of over 17 years. He concentrates mainly on the project structuring, pre-development and implementation of the projects, project management during implementation stage, operations and maintenance and related aspects, with respect to projects in India or outside.
His practice varies from advising clients under the public private partnerships' framework, private arrangement or otherwise, in relation to any aspect of the project. He has also been actively involved in the M&A deals involving project companies, especially in renewable energy sector and advising clients on claims and demands arising out of concession/ construction/ development contracts and representing them at the appropriate forums.
Port (including inland waterways)
- Acting for International Finance Corporation (Inland Waterways Project) as transaction counsel for the implementation of the first inland waterways project under public private partnership mode at Kolkata and Patna.
- Acting for and assisting Assystem Energy & Infrastructure (Juridique Groupe), a nuclear energy-based company (through Pinsent Masons) located in France, in the structuring for its proposed investment in India, project documents that it would enter into with the Indian Contractor (Reliance Infrastructure Limited), in relation to the proposed 9900 MW Jaitapur nuclear power project at Madban village of Ratnagiri district in Maharashtra.
- Acting for and advising Accion Investment Management (Cayman) Limited on the acquisition of several wind power projects being implemented and operated by NuPower Renewables Limited in the states of Tamil Nadu, Karnataka and Rajasthan.
- Acting for and advising Coastal Gujarat Power Limited (a wholly owned subsidiary of Tata Power Company Limited) for the development of 5 X 800 MW of thermal power project in Mundra District, Gujarat.
Corporate (M&A and General Corporate)
- Acting for and assisting Digital Domain Holdings Limited, a Hong Kong based listed company in setting up its India business and in obtaining various registrations, shifting of its registered office from one state to the other state.
Divij joined as a Managing Associate and was made a Partner in the dispute's resolution team of the Firm in 2019.
As a Partner, Divij has advised and represented numerous clients in disputes pertaining to Arbitration & Conciliation Act, Writs/Public Interest Litigation, Insolvency & Bankruptcy Code, Recovery of Debts due to Financial Institutions Act, SARFAESI Act, Sick Industrial (special provisions) Act, winding up, oppression and mismanagement, contractual disputes, suits for recovery, property disputes, consumer laws, matters related to negotiable instruments, banking laws and labour disputes.
Divij has extensive experience in conducting trial in civil proceedings. He has also represented three DISCOMS at the Hon’ble High Court of Delhi, as well as before the DERC, APTEL and CGRF.
- Represented a leading Non-Banking Financial Company (NBFC) before the Hon’ble Supreme Court of India in a Special Leave Petition (SLP) filed by a Corporate Debtor, wherein the Corporate Debtor raised a question as to whether proceedings under the Arbitration and Conciliation Act, 1996 and Insolvency & Bankruptcy Code, 2016 (IBC) can take place simultaneously. The Hon’ble Supreme Court dismissed the SLP and held that a joint reading of Section 14 and Section 238 of the IBC does not stipulate any bar in invoking provisions of the Arbitration Act simultaneously.
- Represented a leading NBFC before the Hon’ble Supreme Court of India in a SLP filed by a Borrower, wherein the questions raised were whether arbitration and SARFAESI proceedings can proceed simultaneously and whether SARFAESI Act has retrospective effect. The SLP was dismissed vide a landmark judgment titled M.D. Frozen Foods Exports Pvt. Ltd. v. Hero Fincorp Ltd. (Civil Appeal No. 15147 of 2017).
- Advising and representing one of the major construction company in the country in a construction dispute with its joint-venture partner. The value of the dispute is INR 200 Crores.
- Represented NHPC Ltd. in the successful approval of its resolution plan for taking over of Lanco Teesta Hydro Power Limited through Insolvency & Bankruptcy Code (IBC). This was the first time that a state-owned company bagged a project under the IBC.
- Successfully represented a leading advertisement company wherein the said company invoked the writ jurisdiction of the Hon’ble High Court of Delhi challenging a notice from BSNL, blacklisting the advertising company. Divij successfully argued that the notice of blacklisting was in violation of the Doctrine of Natural Justice, especially when the notice was silent on (a) the breach of the GCC and (b) the repercussions of not replying to the showcause notice.
Girish Rawat is a qualified lawyer and company secretary with close to 15 years of experience. Girish has been involved in numerous complex and high-profile transactions and advises across several sectors, including real estate, projects, infrastructure, hospitality, technology, manufacturing among others.
Girish focuses on banking, finance and restructuring, including structured finance, cross border lending, hybrid debt financing, project finance, acquisition finance, real estate finance as well as restructuring and security enforcement assignments, and the corporate insolvency resolution process.
He actively advises clients on various investment and financing transactions, including bond/ debt securities, both listed and unlisted, buyback of listed securities. He also advises clients on their investment and disinvestment strategies as well as takeover of the listed companies.
Banking and Finance
- Advised Power Finance Corporation Limited in availing external commercial borrowing to the extent of INR 2340 Crore (USD 360 Million) from State Bank of India, Hong Kong Branch.
Projects and Infrastructure
- Advised GRT Jewelers Private Limited on setting up of solar power project with total capacity of 25 MW at various locations in the State of Karnataka.
- Acted as the Lenders’ Legal Counsel to the consortium of lenders comprising of Power Finance Corporation Limited, Rural Electrification Corporation Limited and Bank of India, led by Power Finance Corporation Limited for the financial assistance of INR 3772 Crore to Western UP Power Transmission Company Limited.
- Advised Landmark Infracon Private Limited on acquiring land parcel of 39.0083 acres, situated in the revenue estate of Village Rajokri, Sub-Division, Vasant Vihar, District North West, Delhi.
- Acted as the sole legal counsel to the public issue of tax free bonds in the nature of secured redeemable non-convertible debentures aggregating to INR 5,000 Crore by Housing and Urban Development Company Limited.
Harry Chawla has extensive experience in the areas of Banking & Finance, Mergers & Acquisitions, and Real Estate. Harry has advised clients in the banking and financial services sector, real estate sector as well as the hospitality, health care, automobile, aviation, telecom, IT, ITES, consumer goods sectors.
He has represented some of the largest players in the Indian real estate market, including several Indian companies as well as foreign investors. He has also assisted the Government of India as well as State Government(s) in the drafting of legislations in this sector.
Harry has worked closely with a large number of international and domestic corporations with respect to their business in India and abroad, in the areas of general commercial advice, mergers & acquisitions, private equity, corporate restructuring, joint ventures, fund raising and commercial contracts, etc.
He has advised and represented clients on issues pertaining to corporate finance (both domestic and cross border), debt restructuring and refinancing, securitization, acquisition finance, structured finance, bonds and similar instruments. He has acted for both lenders and borrowers and been involved in complex transactions involving multiple lenders across jurisdictions.
He has also participated in the evolution and formulation process of business strategies with several clients, vis-à-vis their new ventures and business initiatives and has advised in establishing, operationalizing and implementing such business strategies of the clients. He has also advised several clients on strategizing in dispute resolution, negotiation and settlement etc.
Jay is a Partner in the Banking & Finance, Insolvency & Corporate Restructurings and Corporate/M&A/PE teams at Luthra and Luthra Law Offices India Mumbai office.
Previously, Jay has been a Partner at Shardul Amarchand Mangaldas (Mumbai) (SAM). Before SAM, he was a founder-partner of Verus and was Co-head of the firm’s corporate advisory & transactions practice.
Over the years, Jay has gained considerable experience in Banking & Finance, Restructurings & Insolvency and Corporate/M&A/Joint Ventures/Private Equity and Capital Markets practices.
Banking & Finance
- Advised GMM Pfaudler Ltd. on acquisition finance facilities for its acquisitions in India and abroad.
Insolvency & Corporate Restructurings / Debt Resolution
- Advised UVARCL in its resolution of debts of Reliance Communications Ltd. and Reliance Telecom Ltd. as part of their respective corporate insolvency resolution processes.
Mergers & Acquisitions
- Advised Dr. Lal Path Labs Ltd. on its acquisition of Suburban Diagnostics (India) Pvt. Ltd. for INR 12,000 million (approx.).
Private Equity & Venture Capital
- Advised Neev Fund II on its follow-on investment in Blue Planet Environmental Solutions India Pvt. Ltd. – a leading end to end solutions company for waste management and up-cycling.
- Advised Luxottica Group on the restructuring of its Indian operations involving inter alia reduction of capital of RayBan Sun Optics India Limited.
Projects & Infrastructure
- Advised Rolls-Royce Power Systems on its proposed bid as a Contractor in connection with an Asian Development Bank (ADB) funded 70MW gas-based replacement power project at Sivasagar district, Assam.
With nearly 15 years of invaluable experience under his belt, Karan specializes in rendering advisory and legal assistance in the field of foreign and domestic debt financing in India with clients ranging in various sectors including renewables, roads, ports, steel, thermal power, transmission, airports, hospitality, healthcare, real estate.
Karan has a holistic approach to structuring and negotiating finance and restructuring deals, having advised several stakeholders including borrowers, sponsors, lenders and bond-holders. He has advised clients on myriad financing transactions including project finance, structured finance, corporate finance, restructurings, cross-border financings, debenture issuances and overseas direct investments.
Karan’s roster of clients includes New Development Bank, Coöperatieve Rabobank U.A., Intesa Sanpaolo S.P.A, Bank of America, Siemens Bank GmbH, DBS Bank, Société Générale, Japan Bank for International Cooperation (JBIC), Nordic Investment Bank, State Bank of India, PFC Limited, REC Limited, L&T Finance Limited, ICICI Bank, Tata Capital, Aseem Infrastructure, HDFC Bank, Aditya Birla Finance, Virescent (KKR backed renewable platform), Engie, GIP (Global Infrastructure Partners), Enel Group, the Adani Group, Renew Power, amongst others.
He is a Member of the India Committee of APLMA and is on the Editorial board of EQ, one of India’s premier publishing and research houses for renewable energy in India. He has also been featured in the Asia Law Client Servicing Report, 2020, which highlights lawyers who have consistently delivered high quality service to clients.
- Advised Coöperatieve Rabobank U.A., Intesa Sanpaolo S.P.A, Siemens Bank GmbH and Société Générale in connection with the ECB financing of USD 147 Million provided to Renew Solar Urja Private Limited (part of the Renew Power group) for a 300 MW solar power project in the state of Rajasthan.
- Advised DBS Bank in connection with the ECB financing of SGD 470 Million provided to Bharat Mumbai Container Terminals Private Limited (part of the PSA group, Singapore) for the Phase II of the Fourth Container Terminal at Navi, Mumbai, India.
- Advised Infrastructure Finance Company Limited (United Kingdom) in connection with financial assistance in the form of an external commercial borrowing facility aggregating to approximately USD 31 Million, to a company developing, implementing and setting up a 100 MW (AC) solar power project.
- Advised Renew Surya Roshni Private Limited in connection with ECB facilities availed by it from a consortium of 12 lenders for an amount equivalent to USD Equivalent of INR 77.60 Billion in relation to the financing, construction and operation of a 400 MW capacity "Round The Clock" Project.
- Advised SB Energy Six Private Limited (sponsored by SB Energy Holdings Limited, a part of the SoftBank group) in an ECB financing for an aggregate amount of USD 266,400,000 and JPY 7,415,000,000 involving lenders from various jurisdictions including MUFG Bank Limited, Sumitomo Mitsui Banking Corporation, BNP Paribas, Société Générale and Standard Chartered Bank.
- The deal won 'Indian Green Deal of the Year' award by Project Finance International (PFI) 2020.
- The deal also won the ‘India Green Project of the Year Award’ at Asset Triple A- Asia Infrastructure Awards 2021.
Kartikeya is a Partner with the Banking & Finance Practice Group at Luthra & Luthra Law Offices. Kartikeya has been actively involved in advising domestic and foreign clients in the areas of project finance, corporate finance, debt restructuring, banking & finance regulations and external commercial borrowings. He represents both lenders and borrowers in financing transactions and has experience in sectors spanning airports, hospitals, manufacturing, road, power, renewable energy (wind and solar power) and technology services.
- Advised L&T Financial Services Limited and different entities under it in relation to separate term loan facilities aggregating to approximately INR 1,701 Crores provided to 12 (twelve) special purpose vehicles set up by Essel Green Energy Private Limited for developing and implementing a total capacity of 365 MW solar power projects in the states of Odisha, Uttar Pradesh, Karnataka and Maharashtra.
- Advised a consortium of lenders led by State Bank of India in relation to financial assistance for an amount of INR 16,000 Crores made available to Hindustan Urvarak & Rasayan Limited, for the purpose of part financing the cost of construction and development of three separate natural gas based urea manufacturing complexes with a total urea capacity of 11550 tons per day and ammonia capacity of 6600 tons per day, in Gorakhpur, Uttar Pradesh, Sindri Jharkhand and Barauni Bihar.
- Advised lenders led by Axis Bank Limited in relation to loan facilities aggregating to INR 1665,00,00,000 made available to Cavendish Industries Limited for the purpose of refinancing certain existing indebtedness availed by the company and in relation to certain working capital facilities aggregating to INR 400,00,00,000 made available to the Company.
- Advised a consortium of about 30 Indian and overseas banks, financial institutions, mutual funds and asset reconstruction companies led by Edelweiss Asset Reconstruction Company Limited in relation to the structuring of the entire existing financial indebtedness of BILT Graphic Paper Products Limited aggregating to approximately INR 5,000 Crores into inter alia term loans, non-convertible debentures and compulsorily redeemable preference shares.
- Advised Bangalore International Airport Limited in relation to a term loan facility of INR 160 Crores availed by Bangalore International Airport Limited from a syndicate of banks led by ICICI Bank Limited for part financing certain capital expenditure in relation to the refurbishment of the existing terminal, forecourt improvements and realignment of terminal T1 of the Bengaluru International Airport.
Maureen Z. Ralte
Maureen Z. Ralte is a Partner in the M&A and Corporate Practice of the Firm. She has over 15 years’ experience in mergers & acquisitions, private equity, real estate and general corporate advisory. She has worked on a wide variety of corporate transactions across sectors including real estate, hospitality, automobile, renewable energy, banking & finance, tourism, entertainment, marketing, information technology, etc.
She has represented domestic and multinational companies in the negotiation, structuring, preparation and review of transaction documents, in the areas of general commercial advice, mergers & acquisitions, private equity, corporate restructuring, insolvency, joint ventures/ collaborations, fund raising and commercial contracts. She has advised clients on issues relating to general corporate compliances, corporate governance issues, real estate and exchange control laws.
Maureen has worked closely with the in-house departments of leading corporate houses and routinely advises them on complex legal issues.
Mr. Nishant Singh is a Partner at Luthra & Luthra Law Offices India and specializes in the area of Mergers & Acquisitions, Private Equity & Venture Capital and Banking & Finance.
Nishant is admitted to practice law in India and the State of New York (USA). In the last 19 years, Nishant has worked on a wide array of equity and debt financing transactions across multiple sectors and countries. In the M&A space, he has worked on listed as well as unlisted company transactions including, public takeover, PIPE, going private, JV and minority or majority equity investments. As regards the debt investment, he advises on structured debt funding and re-structuring transactions.
Nishant also advises corporate houses and HNI’s in relation to investigations by government agencies like Serious Fraud Investigation Office, Central Bureau of Investigation, Enforcement Directorate, Economic Offence Wing for charges of bribery, money laundering, corporate fraud and various other offences and assists clients in formation of internal corporate policies and structures against anti-bribery, anti-corruption, anti-corporate fraud, whistleblowing, anti-sexual harassment, data privacy and cyber security.
Prior to joining Luthra & Luthra Law Offices India, Nishant was a partner with IndusLaw, Mumbai and prior to that with Khaitan & Co, Mumbai. Also, his past international experience of working with the top tier law firms in San Francisco (Perkins Coie LLP), New York and London (Dewey & LeBeouf LLP) offers his clients a distinctive approach and expertise on cross-border deals.
Nishant has consistently been endorsed as a ‘Leading Lawyer’ for financial and corporate law in India by IFLR1000 (2019-23) and as an ‘Elite Legal Practitioner’ in Asia Pacific Region by Legal 500 (2018-2022).
Nishant has been recognized as one of the ‘Leading Lawyers of India’ for Banking & Finance, Corporate/M&A and Private Equity by asialaw (2015-2023), and a ‘Rising Star’ by Legal Era Awards 2016.
- Advised Future Group in relation to USD 5 billion debt re-structuring of Future Retail Limited, Future Enterprises Limited, Future Lifestyle Fashions Limited, Future Consumer Limited, Future Supply Chain Solutions Limited, and other unlisted companies for all outstanding debt owed to 28 Indian banks-consortium under the resolution framework for COVID-19-related stress announced by the Reserve Bank of India.
- Advised Agritrade Resources Ltd., a listed company on the Hong Kong Stock Exchange, in relation to acquisition of SKS Power Generation (Chhattisgarh) Limited through a One Time Settlement of INR 2170 crores (approx. USD 350 million) for all outstanding debt to State Bank of India, L&T Infrastructure Finance Company Limited and PTC (India) Financial Services Limited.
- Advised Engie Solar SAS and Electro Solaire Private Limited in a project financing for an amount of USD 100 million approximately availed from the Asian Development Bank and Société Générale for setting up a 2x 100MW AC grid-connected solar PV project in Raghanesda Solar Park, Gujarat.
- Advised IndoStar Capital Finance, a listed company, in relation to Brookfield Asset Management’s acquisition of 40% stake for INR 1225 crores through a mix of primary and secondary shares from Everstone Capital, infusion of capital in IndoStar Capital Finance, and public shareholders under the Takeover Code.
- Advised American International Group Inc. in its sale of American Life Insurance Corporation to MetLife Inc. for USD 15.5 billion.
Piyush is a Partner in Infrastructure, Finance, Insolvency, and Restructuring Practice of Luthra and Luthra Law Offices India. Before joining Luthra and Luthra Law Offices India, he has worked with AZB Partners, Cyril Amarchand & Mangaldas, Allen & Overy LLP (London) and Amarchand & Mangaldas.
He is a dual-qualified lawyer, Advocate (India) and Solicitor (Non-Practicing), England & Wales, and is recognised as a ‘Notable Practitioner’ by asialaw, ‘Leading Lawyer’ by international publications including IFLR 1000 and Chambers & Partners.
He has extensive experience in distressed assets space including restructuring and insolvency, enforcement of security and acquisition of such assets. He has acted for Lenders (CoC and individual), Resolution Professionals, Bidders and Distressed Debt Funds in pre-IBC resolutions, CIRP process and liquidations.
Piyush is associated with reputed industry groups such as the Core Group on Insolvency, Federation of Indian Chamber of Commerce. He has authored and presented papers at various forums. These include various national and international seminars by INSOL (HK), IBBI (Delhi, Mumbai, Chennai), CFA Institute, SBI, ICSI (Eastern Region) and ICAI on insolvency laws. His publications include The Restructuring Review, 2019 and 2020, PLC’s Structured Finance & Securitisation Multijurisdictional Guide (2012) and various articles in Project Finance International.
- Acted for various Resolution Professionals in the Corporate Insolvency Resolution Process (CIRP) for Punj Lloyd Limited, Jhabua Power Limited, Educomp Infrastructure Solutions and Marketing Limited.
- Advised a consortium of lenders, on sale of more than 51% shares in Jindal India Thermal Power Limited and Monnet Ispat and Energy Limited through an e-auction process under S4A and SDR schemes.
- Acted for State Bank of India and HDFC Bank Limited on a syndicated secured term loan of INR 10.8 billion approximately for Dalmia Cement (Bharat) Limited.
- Acted for a consortium of 27 lenders lead by PFC and SBI on INR 130 billion senior and sub debt secured syndicated facility for KSK Mahanadi.
- Acted for Cairn India Limited on the first reserve based funding in India in relation to approximately INR 40 billion syndicated secured facility from reputed lender through participating interest based funding and refinancing of the facility through listed rupee bond issuance.
Purvi Dabbiru is a Partner with the Banking & Finance and Project Finance Practice Group at Luthra and Luthra Law Offices India. Having over 11 years of experience in this space, Purvi specializes in rendering advisory and legal assistance in the fields of banking and finance, project finance and debt restructuring space.
Her expertise ranges across sectors including ports, roads, power, renewables, real estate and manufacturing, and with expertise in wide range of financial products, including fund based and non-fund based facilities, private placements of debentures and external commercial borrowings. Having advised various stakeholders including lenders, borrowers, sponsors and guarantors, Purvi has an all-round approach in structuring transactions and negotiating documentation.
- Advised Bharat Mumbai Container Terminals Private Limited (wholly owned subsidiary of PSA International PTE Limited) and PSA International PTE Limited, in relation to an external commercial borrowing (ECB) facility aggregating to approximately SGD 630 Million and certain hedging facility, provided by DBS Bank Limited.
- Assisted Nordic Investment Bank in relation to the facility of SEK 607,000,000 and EUR 8,600,000 provided to Power Grid Corporation of India Limited by Nordic Investment Bank for the purpose of part financing of a project of the company in India consisting of construction of a HVDC multi-terminal system package.
- Advised Infrastructure Finance Company Limited (United Kingdom) in connection with financial assistance in the form of an ECB facility aggregating to approximately USD 31 Million, to a company (confidential) developing, implementing and setting up a 100 MW (AC) solar power project including the transmission line.
- Advised Rajasthan Sun Technique Energy Private Limited, a company promoted by Reliance Power Limited, in connection with the financing, involving inter alia foreign currency facility and rupee term loans, for the development and operation of a 100 MW concentrating solar generation power plant at Rajasthan, with a project cost envisaged at approximately USD 410 Million.
- Acted for a consortium of lenders viz. Axis Bank Limited, Aseem Infrastructure Finance Limited and NIIF Infrastructure Finance Limited in relation to the financial assistances aggregating up to INR 17.799 Billion made available to four separate SPVs (forming part of the Actis Group) for the purpose of, inter alia, refinancing their existing debt with respect to their respective solar power projects in the states of Madhya Pradesh and Andhra Pradesh.
Ritu Bhalla is a Partner in the dispute resolution practice of the Firm. In her career spanning over 3 decades, she has gained extensive experience in corporate commercial disputes, arbitration matters and specialises in litigation and dispute resolution in areas such as banking & finance, insolvency, regulatory, infrastructure, administrative, white-collar, etc.
She has represented both Indian and multinational clients in various fora including Supreme Court, High Courts, NCLAT, NCLT, DRAT, DRT, quasi-judicial tribunals, domestic and international commercial arbitrations, and has also led teams in undertaking investigations and legal forensic assignments.
She has handled high stake matters and has represented clients in several commercial arbitration matters, successfully obtaining favourable awards for her clients. Ritu has also advised clients on critical litigation strategies.
Shivani graduated from Symbiosis Law School, Pune in 2008, and has over 16 years of experience in representing banks/financial institutions (domestic and foreign) in respect of restructuring, insolvency and finance matters.
She has extensive experience in distressed assets space including restructuring and insolvency, and acquisition of such assets. She has acted for Lenders (CoC and individual), Resolution Professionals, and Bidders in pre-IBC resolutions, CIRP process and liquidation process.
- Acting for the Committee of Creditors in the Corporate Insolvency Resolution Process (CIRP) of Reliance Capital Limited.
- Acting for the Resolution Professional in the Corporate Insolvency Resolution Process of Indo Global Soft Solutions.
- Acted for the Committee of Creditors in the corporate insolvency resolution process and in the implementation of the resolution plan of Uttam Galva Metallics Limited.
- Acted for banks/financial institutions (domestic and foreign) in respect of restructuring of several loan accounts under CDR and JLF, S4A, SDR and flexible structuring namely: Panduranga Energy Systems Pvt. Ltd., Gati Infrastructure Private Limited, Soma Enterprise Limited, MB Power Madhya Pradesh Limited etc.
- Advised IIFL Home Finance Limited and IIFL Finance Limited in revising its loan documents (both for its existing loans and new loans) and necessary customer communications to ensure compliance with the NPA guidelines of Reserve Bank of India.
Sudipta’s career spans over 25 years, in diverse settings. He started as an in-house, transitioned to private practice, acquired foreign qualifications, moved to international English Law practice, founded his own firm, and then merged his practice with a top-tier firm.
Sudipta’s practice is presently focused on Cross-border M&A, Banking & Finance, Corporate Advisory, Fund Formation, and Insolvency & Restructuring.
Over the last 25 years, Sudipta has cherished a lead role in high value “pink paper” transactions and business development. In recent years, it has been more the deals that he has managed to stop, restructure/ re-strategize that have added greater value to clientele. His practice has evolved from transactional, to strategic counselling, consensus building and operating as a close confidante - to business leaders, boards, promoters, and entrepreneurs.
He is quoted often and published regularly and speaks frequently in national and international forums and on television talk shows.
Varun comes with over a decade of experience in M&A, private equity and general corporate advisory. Varun’s involvement in various transactions help both the investors as well as the target company navigate a very uncertain regulatory environment and close large investment rounds. He has played instrumental role in bringing clarity on certain grey areas of the regulatory framework, for instance, surrounding restructuring of such ECB Loans. His insights and legal advisory on transactions in relation to private acquisitions of assets during ongoing insolvency of the asset owner’s group companies has been incredible. Varun’s approach towards solving client’s problem is one of his strongest forte. He brings solution-oriented mind set to the table, helping client navigate the transactions in the most reasonable and timely manner and simultaneously creating space for his team to learn, adapt and grow into an even better professional
- Advised Apollo Hospitals in its INR 450 Crore hospital asset acquisition in Gurugram, Haryana.
- Advised a leading real estate company on the resolution and eventual acquisition of a landowning company owning 110 Acres of land valued at over USD 140.5 Million under the pre-packaged insolvency regime.
- Advised M3M India Private Limited (M3M) on INR 900 Crore debt infusion by Oaktree Capital through subscription to NCDs.
- Advised IFFCO and reviewed financing documentations and corresponding amendments thereto, arising out of the restructuring of the credit facilities amounting to USD 850 Million availed of by IFFCO’s foreign subsidiary i.e. Jordan India Fertilizer Company.
- Advised by Kunshan Q Tech Microelectronics (India) Private (QTech) Limited on USD 20 Million External Commercial Borrowings (ECB).