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.
Aniket Sen Gupta
Girish Rawat is a qualified lawyer and company secretary with close to 15 years of experience. He is a member of the Supreme Court Bar Association. Girish has been involved in numerous complex and high-profile transactions. Girish 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.
Girish has been recognized “40 Under 40 Rising Star” by Legal Era and as “Leading Lawyer” in “Financial and Corporate” by IFLR 1000 since 2017. He has been consistently recommended for his work in the practice areas of “Banking & Finance”, “Corporate and M&A”, “Capital Markets”, “Project Finance” and “Real Estate & Construction” by Legal 500, Chambers and Partners and Asia Law Profiles. He has also been named the “Finance Lawyer of the Year- India” at the Finance Monthly Global Awards 2012 and the “Finance Lawyer of the Year – India” at Corporate Live Wire 2013 edition. Prior to joining Luthra and Luthra Law Offices India, Girish has worked as Partner with Dhir & Dhir Associates for 13 years.
SELECT REPRESENTATIVE CLIENTS/MATTERS
- Banking and Finance:
- Advised Power Finance Corporation Limited in availing external commercial borrowing to the extent of INR 2340 Crore (US$ 360 Million) from State Bank of India, Hong Kong Branch. The transaction involved interalia advising the client on various regulatory aspects governing the said borrowing transaction and negotiating the financing documents with the counter party and also to cover the foreign currency risk by entering into hedging contract.
- 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. The Firm advised and assisted GRT on the matters pertaining to acquisition of the land for the said project. The scope inter-alia included structuring the acquisition of project land through KREDL, drafting of documentation/ agreement between the land owners, KREDL and GRT and conducting due diligence on the land measuring 100 acres in the State of Karnataka, drafting of turnkey EPC contract along with general conditions of contracts and special conditions of contract for construction, supply, services and operations.
- Project Finance:
- 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 for part financing the cost of setting up the transmission lines in the Western Uttar Pradesh from Mainpuri – Hapur, Mainpuri- Greater Noida and Noida – Hapur Line.
- Real Estate:
- 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. The scope inter-alia included drafting of title due diligence report, inspection/ verification of various documents and advising over legal issues regarding the title search over the 39.0083 acres, situated in the revenue estate of Village Rajokri, Sub-Division Vasant Vihar, District North West, Delhi.
- Capital Markets:
- 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.
- Ranked in India Business Law Journal’s A-list of Top 100 lawyers in 2020 and 2022-23.
- Recognized as the Real Estate Lawyer of the Year at the 12th Legal Era Awards, 2022-23.
- Awarded Corporate Law Firm of the Year – 2022 and Real Estate Law Firm of the Year – 2020 by Global Law Experts.
- Awarded Real Estate Law Expert of the Year 2022 by The Lawyer Network.
- Awarded Leading Legal Mind in Corporate Finance (India) by APAC Legal Awards 2020.
- Awarded M&A and Banking Finance Law Firm of the Year in India by 2020 Corporate INTL Global Awards.
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. Prior to founding Verus, Jay worked at Bharucha & Partners having joined as part of the founding team from (the erstwhile) Amarchand Mangaldas (Mumbai) where he started his career.
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.
Jay has been recognized in the ‘A-List – India’s Top Lawyer 2022’ by India Business Law Journal.
SELECT REPRESENTATIVE CLIENTS/MATTERS
- Banking & Finance
- Currently advising SWAMIH Fund on several matters ranging from standardisation of documents to enforcement actions.
- 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. Debt resolved is INR 82,000 crores and INR 42,000 crores approx., respectively. This deal is subject to NCLT and other approvals.
- Advising Reliance Capital Ltd. and a few of its operating subsidiaries on certain debt and business restructuring mandates.
- Mergers & Acquisitions
- Advised Dr. Lal Path Labs Ltd. on its acquisition of Suburban Diagnostics (India) Pvt. Ltd. for INR 12,000 million (approx.).
- Advised Bayer BioScience Private Limited and Bayer CropScience Ltd. in sale of their cotton seed (sold under the Surpass® brand) & pearl millet, sorghum and mustard seed (sold under the ProAgro® brand) businesses and related assets in India to Crystal Crop Protection Limited.
- 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 Growthpond Technology Pvt. Ltd. (operating its business under Dukaan) and its founders on its pre-seed funding from Matrix Partners & Lighthouse Funds. Also advised the client on its much publicized and high-stake dispute with Khatabook and its founder.
- Joint Ventures
- Presently advising a leading laser and marking systems manufacturer in its proposed Indian joint venture with a leading Indian conglomerate.
- Advised a Government company on the assignment of its unsecured debt instruments to another Government company in lieu of issuance of fresh equity shares by way of a scheme of arrangement.
- General Corporate
- Presently advising a German engineering company in the winding down and ultimate closure of the operations of its Indian wholly owned subsidiary.
- Advised Luxottica group on the restructuring of its Indian operations involving inter alia reduction of capital of RayBan Sun Optics India Limited.
- Private Client Practice
- Advised several HNW individuals and promoters of large Indian corporates on setting up of family trusts, family arrangements, wills and succession & estate planning matters.
- Capital Markets
- Advised Union Bank on its proposed QIP of INR 20,000 million in 2017.
- Advised on several SME IPOs (Ambition Mica Ltd. Shree Krishna Constructions Ltd., Mangalam Seeds Ltd., MD Inducto Ltd. etc.)
- 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.
- Advised UltraTech Cement Ltd. on an O&M agreement for its Wall Care Putty plant at Katni, Madhya Pradesh.
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.
Karan has been recognized by several leading global publications including the following:
- ‘Ranked Lawyer’ by Chambers and Partners (Global Guide and Asia Pacific)
- ‘Top Lawyer’ in The A-List 2023-24 by India Business Law Journal.
- ‘Lawyer of the Year – India’ by Asia Law Awards 2020
- Lexology – Client Choice Award Winner (Banking) - 2022
- ‘Leading Individual’ by Legal 500
- ‘Leading Lawyer – Highly Regarded’ by IFLR 1000
- 40 under 40 Lawyers in Asia – Asian Legal Business
- ‘Distinguished Practitioner’ by Asia Law
- ‘Leading Lawyer’ by Legal Era
- 40 under 40 Rising Star Awards 2022 – Legal Era
- 40 under 40 – India’s Green Energy & Climate Leader of Tomorrow’ by EQ International
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.
He also holds the following positions:
- Member of the India Committee of APLMA
- Editorial board of EQ, one of India’s premier publishing and research houses for renewable energy in India
SELECT REPRESENTATIVE CLIENTS/MATTERS
- Coöperatieve Rabobank U.A./Renew Power: 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.
- DBS Bank/PSA Group: 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.
- India Infrastructure Finance Company (UK)/Renew Power: 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.
- Renew Power (“Round The Clock”): 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.
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.
SELECT REPRESENTATIVE CLIENTS/MATTERS
- L&T Financial Services Limited: Advised different entities under the LTFS group 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. The deal involved cross collateralization in different structures and forms.
- State Bank of India: 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.
- Axis Bank Limited: 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.
- Edelweiss Asset Reconstruction Company Limited: 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.
- Bangalore International Airport Limited: 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.
- YES Bank Limited: Advised YES Bank Limited in relation to the term loans facilities aggregating to approximately INR 214.4 Crores provided to Hindupur Solar Park Private Limited (SPV set up by First Solar INC.), for the purposes of meeting expenditure in relation to, inter alia, developing, implementing and setting up a 40 (forty) MW solar power plant in Hindupur, Anantapur district in the state of Andhra Pradesh.
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.
SELECT REPRESENTATIVE CLIENTS/MATTERS
- 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.
- 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.
- 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.
- 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.
- 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.
SELECT REPRESENTATIVE CLIENTS/MATTERS
- 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 on the first reserve based funding in India for Cairn India Limited 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.
SELECT REPRESENTATIVE CLIENTS/MATTERS
- PSA Group, Singapore: Advised Bharat Mumbai Container Terminals Private Limited (wholly owned subsidiary of PSA International PTE Limited) and PSA International PTE Limited, in relation to an ECB facility aggregating to approximately SGD 630 Million and certain hedging facility, provided by DBS Bank Limited, for the purposes of financing the setting up of phase I of the fourth container terminal in Navi Mumbai, with a 30-year concession from Jawaharlal Nehru Port Trust. We now also provide day to day advice on financing issues to BMCTPL.
- Nordic Investment Bank: 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.
- India Infrastructure Finance Company (UK) Ltd: 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 (confidential) developing, implementing and setting up a 100 MW (AC) solar power project including the transmission line.
- Rajasthan Sun Technique: 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.
- Consortium of Lenders led by Axis Bank Limited – Actis Group: Acted as lenders’ legal counsel 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.
- L&T – Enel: Advised as lenders’ legal counsel to lenders led by L&T Finance Limited and L&T Infrastructure Finance Limited (now merged into L&T Finance Limited) in relation to rupee facilities of upto INR 14.43 Billion extended to Avikiran Solar India Private Limited (SPV forming part of the Enel group) for the purpose of, inter alia, financing the development, implementation and setting up of a 285.6 MW wind power plant in the Kutch district in the State of Gujarat.
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 VARUN VAISH Partner firstname.lastname@example.org Delhi creating space for his team to learn, adapt and grow into an even better professional.
SELECT REPRESENTATIVE CLIENTS/MATTERS
- 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 a leading real estate company on its acquisition of real estate assets valued at USD 40.6 Million from Indiabulls Housing Finance.
- 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 on USD 20 Million External Commercial Borrowings (ECB) by Kunshan Q Tech Microelectronics (India) Private (QTech) Limited.
- Advised QTech on USD 13.5 Million purchase of Havells Land in Greater Noida.
- Varun has been recognized as one of the ‘Top 100 Lawyers’ (below 10 years) experience in Forbes Legal India Powerlist 2022.