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BANKING AND RESTRUCTURING

 
  • Acted as Indian legal counsel to Axis Bank Limited, DIFC Branch, on an external commercial borrowing transaction, in which the bank extended a term loan of US$11,000,000 to Jaihind Projects Limited, for part financing of a 5MW solar photovoltaic-based power plant to be set up at Chadiyana Village, Patan, Gujarat, India.
  • Advised Master Voss International Projects Private Limited, a major project forwarding and heavy lift transportation company, on an external commercial borrowing transaction in which Voss International GmbH, its German partner, subscribed to debentures worth US$470,000.
  • Acted as Indian legal counsel to Bank of India’s London branch in a financing  transaction in which the bank extended a term loan facility of US$80,000,000 to Atlantic Bluewater Services Ltd., a company incorporated in the British Virgin Islands (BVI), being a joint venture of Atlantic Bluewater Investments Ltd., BVI, Sterling Biotech Limited, India, and Sterling Oil Resources Limited, India, for the purpose of  construction of a crude oil off-take terminal  at Osemoku, Ndokwa East LGA in Delta State, Nigeria.
  • Acted as Indian legal counsel to Bank of India’s, London branch, Union Bank of India, Hong Kong branch, Canara Bank, London branch, and Export-Import Bank of India in an external commercial borrowing transaction in which the banks extended a term loan of US$73,490,000 to Responsive Industries Limited, India, to part finance its proposed expansion project at Boisar, District Thane, to enhance its production capacity in PVC leather cloth segment from 22,000 MTPA to 33,000 MTPA and vinyl flooring product segment from 15,000 MTPA to 50,000 MTPA.
  • Represented Axis Bank Limited, Singapore Branch, in an external commercial borrowing of US$20,000,000 by Shyam Metalics and Energy Limited, a manufacturer of high quality sponge iron, and a group company of the Shyam Group of Industries, one of the front runners in the iron and steel sector in Eastern India and amongst the largest manufacturers of ferro alloys in the country.
  • Represented Bank of Baroda, London Branch, in a financing transaction of US$20,000,000 to Mukundan Holdings Limited, British Virgin Islands, a wholly owned subsidiary of Binani Cement Limited, the flagship company of the Braj Binani Group, a diversified, business house with interests in zinc, cement, glass fibre, composites, project management services, construction, etc.
  • Represented Axis Bank Limited, Singapore Branch, in a financing transaction of US$43,500,000 to Tega Holdings Pte Limited, Singapore, a subsidiary of Tega Industries Limited, a leading Indian company engaged in the business of mining, beneficiation, power, material handling and engineering.
  • Represented Bank of Baroda, Dubai Branch, the lead bank in a consortium of five (5) overseas branches of Indian banks, in a financing transaction of US$82,000,000 to British Oil & Gas Exploration Limited, the British Virgin Islands, joint venture company of Sterling Biotech Limited, a leading Indian manufacturer of products in the neutraceutical, biopharmaceutical and pharmaceutical sectors.
  • Represented Motilal Oswal Financial Services Limited, a listed public company providing diverse financial services and having presence in over 591 cities and towns in India, in financing a short-term loan facility of Rs.10,00,00,000 to Murli Industries, a listed company engaged in the business of manufacturing of cement and agro-based products, and power generation.
  • Representing Axis Bank Limited, Singapore Branch, in a financing transaction of AUD15,000,000 to Riverina Oils & Bio Energy Pty Ltd., Singapore, a subsidiary of Bhuruka Gases Limited, a leading Indian manufacturer, importer, exporter of specialty, rare gas products, industrial and liquid gas products.
  • Represented Axis Bank Limited, DIFC Branch, in a financing transaction of US$5,260,000 to YPA (Thailand) Limited, Thailand, a subsidiary of Time Technoplast Limited, a leading technology based polymer product company with worldwide manufacturing operations.
  • Representing Axis Bank Limited, DIFC Branch, in an external commercial borrowing of US$9,750,000 by Viaton Energy Private Limited, an Indian company promoted by the 3F group, a world leader in specialty fats technology, and the Creative group (a vertically integrated diversified textile group).
  • Representing Export Development Canada, a corporation wholly owned by the Government of Canada, offering innovative financing, insurance and risk management solutions to Canadian exporters and investors, in a line of credit agreement of borrowing of up to US$100,000,000 by ICICI Bank Limited, Hong Kong Branch.
  • Represented Export Development Canada, a corporation wholly owned by the Government of Canada, offering innovative financing, insurance and risk management solutions to Canadian exporters and investors, in an external commercial borrowing of US$2,665,682 by National Polyplast (India) Limited, a subsidiary of the National Plastics group.
  • Represented Axis Bank Limited, Hong Kong Branch, in its US$150,000,000 financing of Essar group’s Cyprus entity.
  • Advising Wockhardt Ltd. on Indian law matters pertaining to its derivatives transactions with various banks.
  • Advised Ashapura Minechem Ltd., India’s largest multi-mineral solutions provider, on Indian law matters pertaining to its derivatives transactions with various banks.
  • Represented Bank of Baroda, London Branch, the lead bank in a consortium of four (4) overseas branches of Indian banks, in an external commercial borrowing of US$50,000,000 by Essar Constructions (India) Limited, one of the largest construction companies in India, for importing plant and machinery and repayment of certain outstanding letters of credit.
  • Represented Bank of Baroda, London Branch, in a loan financing transaction of €19,900,000 to Bharat Forge Kilsta AB, Sweden, a subsidiary of one of the largest forging companies in the world with world wide manufacturing operations.
  • Represented Punjab National Bank (International) Limited, London, in a loan financing transaction of US$9,800,000 to Reed Sriram Minerals Inc., USA, a wholly-owned subsidiary of Haldia Coke & Chemicals Limited (a group company of Chennai-based Ennore Coke Limited).
  • Represented Punjab National Bank (International) Limited, London, in a loan financing transaction of US$20,500,000 to Opera Minmetals Limited, Jersey, a wholly-owned subsidiary of Chennai-based Opera Holdings Private Limited.
  • Advised W.L.Gore & Associates (Pacific) Pte. Ltd., Singapore, a subsidiary of W.L.Gore & Associates, Inc., a leading manufacturer of advanced technology products for the electronics, industrial, fabrics, and medical markets, on bank guarantee and letter of credit facilities provided to it by Standard Chartered Bank.
  • Acted for CGI Group Inc., a leading information technology and business process services firm, and conducted a legal due diligence of its Indian subsidiary, CGI Information Systems and Management Consultants Private Limited, in connection with a financing transaction with JPMorgan Chase Bank, N.A.
  • Advised the Chicago Mercantile Exchange Inc., the largest commodities exchange in the world, on laws and regulations applicable to derivatives products in India. 
  • Acted as Indian legal counsel to Bank of India, UK, in the refinancing of SKA Securities Limited of INR17,000,000,000 approximately.
  • Acted as Indian legal counsel to Bank of Baroda, UK, in a consortium external borrowing transaction of INR17,000,000,000 approximately, to United Phosphorous Limited, London.
  • Acted as Indian legal counsel to Bank of Baroda, Dubai, in a consortium external commercial borrowing transaction of INR1,400,000,000 to Godawari Power & Ispat Ltd. 
  • Acted as Indian legal counsel to Bank of India, UK, in the US$8,660,000 financing of a Panama subsidiary of three (3) Indian shipping companies to acquire a merchant vessel.
  • Acted as Indian legal counsel to Bank of India, UK, in the financing of Associated Powercon India Private Limited’s Swedish subsidiary of US$8,000,000 in relation to an overseas acquisition.
  • Advised TriplePoint Capital LLC, a Delaware limited liability company, on a unique transaction in which TriplePoint extended a credit facility to Innovative Design Engineering & Animation, Inc., an American wholly owned subsidiary of Innovative Design Engineering & Animation Private Limited, an Indian entity.
  • Advised Merrill Lynch, London, on Indian laws and regulations applicable when making foreign currency loans to Indian companies, including security creation, foreign exchange, enforcement and related issues.
  • Advised Tecumseh Products Company on a cross-border refinancing of US$50,000,000, where JP Morgan, USA, was the lender. 
  • Advised Bank of India, UK, on the financing of Punjab Chemicals & Crop Protection Ltd.’s Dutch subsidiary of €31,000,000 in relation to an overseas acquisition.
  • Acted for Wells Fargo Bank in a major letter of credit dispute in India.
  • Acted for Bank of Ireland in a major letter of credit dispute in India.
  • Represented Banque de Commerce et de Placements, Lugano, in a major letter of credit dispute in India.
  • Advised World Business Capital, Inc., a cross-border financing company, on Indian company financings backed by OPIC.
  • Advised CPS Color Private Limited, a subsidiary of a Finnish paint major, on its derivatives contract under ISDA with HSBC, Mumbai.
  • Represented Clico Investment Bank Limited, the largest investment bank in Trinidad and Tobago, in its US$25,000,000 financing of Essar Steel Caribbean Limited, an Essar group company.
  • Advised Rabo India Finance Private Limited on ISDA and derivatives contracts.
  • Advised the Travelers Group on security creation and enforcement of indemnities in India.
  • Advised UTI Bank on asset securitization issues, including the stamp duty payable on transfer of receivables.
  • Advised V.Ships, the leading supplier of independent ship management and related marine services to the global shipping industry on the restructuring of its Indian operations.
  • Advising the administrators of MF Global on restructuring MF Global’s joint venture in India with Sify Technologies Limited, MF Global Sify Securities India Pvt. Ltd.
  • Assisting JDA Software Group, Inc., a leading global supply and demand chain management company, in restructuring its India operations into i2 Technologies India Private Limited, following its global acquisition of i2 Technologies, Inc., in a US$604,000,000 transaction.
  • Assisted Vantrix Corporation, an industry-leading provider of content adaptation and optimization solutions for converged wireless, broadband and cable networks, on the closure of its Indian subsidiary, Vantrix India Software Private Limited.
  • Advised Sequenom, Inc., a leading provider of genomic and genetic analysis solutions for research and molecular diagnostic markets, on the voluntary winding-up of its Indian subsidiary.
  • Represented ADM Investor Services International Limited (part of the US-multinational Archer Daniels & Midland), a large full service brokerage firm based in the UK, in restructuring its Indian operations and joint venture, and also advised on Indian laws applicable to securities and commodity broking activities.
  • Represented CrossMark Systems and Solutions India Pvt. Ltd. in its shareholders voluntary winding-up in the Bombay High Court.
  • Advised Ansaldo Sistemi Industriali S.p.A., Italy, on strategy to exit its joint venture with a leading Indian electrical equipment manufacturing company in India.
  • Acted as Indian legal counsel to M. Fabrikant & Sons, Inc., a multinational diamond trading company, in its Chapter 11 restructuring involving various Indian assets.
  • Advised Société Générale, London, on debt restructuring of an Indian company.
  • Advised B.C.Components on debt restructuring and security enforcement issues.
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