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Finance

The Firm’s practice in banking and finance is demonstrated by the depth of its clientele across sectors. We advise leading national and international banks, financial institutions, NBFCs, debt funds and corporate houses in almost all forms of banking and finance transactions including structured finance, securitisation, project finance, promoter funding/ loan against shares, syndicated lending, consortium lending, bonds, debentures and commercial papers. Whilst a large majority of our assignments are as lenders’ or investors’ counsel, we have also acted as borrowers’ or issuers’ counsel in various transactions.

Private Credit and Structured Finance

The Firm advises various credit funds and NBFCs on complicated domestic and international structured finance transactions. We also regularly advise on securitisation transactions, pooling of assets or financing management buyouts, acquisition finance or structuring surrogate leveraged buyouts (as leveraged buyouts for public companies are not permissible under Indian laws).

Infrastructure and Real Estate Finance

Our project finance advice spans almost all sectors of infrastructure finance. From transport to energy (with a focus on renewable energy), the Firm has advised on infrastructure projects across verticals. We have been involved as counsel for various NBFCs and funds (both domestic and international) for financing real estate projects, including slum rehabilitation projects / re-development projects across the country including in Mumbai, NCR, Bengaluru, Pune, Hyderabad, Chennai and Kolkata. Significant domain expertise of the team involved is an advantage we bring to the table in this space.

Specialised team

We are one of the market leaders in the banking and finance practice owing to the experience of our lawyers and the range of our practice. Our team is comprised of lawyers who are highly skilled, smart, motivated and thorough professionals.

Select Experiences

  1. Advised Dalmia Polypro Industries Private Limited on raising USD 30 million external commercial borrowing from United States International Development Finance Corporation (USIDFC) for establishing a greenfield recycling facility in Nashik, Maharashtra.
  2. Advised Polygenta Technologies Limited (a leading PET recycling company engaged in sustainable circular economy) on the external commercial borrowing raised from DEG (German Investment and Development Company mbH) and Danish development financier, IFU.
  3. Advised HDFC Limited on providing various credit facilities under the Emergency Credit Line Guarantee Scheme (ECLGS) formulated by the Department of Financial Services, Ministry of Finance, Government of India for an amount aggregating to ~Rs. 4,50,000,000,000 to provide 100% guarantee coverage to banks and NBFCs to enable them to extend emergency credit facilities to business enterprises/ MSMEs in view of COVID-19 to meet their additional term loan/ working capital requirements.
  4. Advising (on an ongoing basis) the SWAMIH Investment Fund I, the AIF set up by the Government under the Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects, on their investments in various real estate projects in Mumbai, NCR, Bangalore, Rajasthan, Kolkata etc.
  5. Advising (on an ongoing basis) for Citibank’s investments in debt instruments issued by major Indian conglomerates, such as JSW Steel Limited, JSW Energy Limited, Skoda Auto Volkswagen Private Limited, ECL Finance Limited, Bharti Airtel Limited, Bharti Hexacom Limited, John Deere Financial India Private Limited, National Engineering Industries Limited and Mahindra Rural Housing Finance Limited.
  6. Advised HDFC Limited on its merger with HDFC Bank to create India’s second largest bank. This deal marks India’s largest ever public M&A transaction valued at USD 60 Billion.
  7. Advised Citicorp Finance (India) Limited (CFIL), Citigroup’s flagship non-banking finance entity, in connection with its proposed private placement of non-convertible debentures for an amount aggregating up to Rs. 10,000 crore.
  8. Advising HDFC Capital Affordable Real Estate Fund – 3 in the Adarsh Developers group, by way of subscription to listed and unlisted non-convertible debentures.
  9. Advised Hong Kong based alternative investment fund, Ares SSG backed ARC, Assets Care and Reconstruction Enterprise (ACRE), on their purchase of stressed loan portfolios from HDFC Limited aggregating to Rs. 1,180 crore.
  10. Advised ACRE on the acquisition of a retail-cum-SME loan portfolio of an aggregate value of approximately Rs. 2,613 crore from JC Flowers Asset Reconstruction Company.
Key Partners
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Key Partners

Aastha

Partner

Aastha’s practice focuses on financing as well as corporate insolvency and...

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Aseem Dhawan

Partner

Aseem Dhawan is a Partner in the Banking and Finance practice at Argus Partners,...

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Krishnava Dutt

Managing Partner

Krishnava is the Founder and Managing Partner of Argus Partners and sits on the...

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Nidhi Arya

Partner

Nidhi’s primary practice areas are banking & finance, real estate and...

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Utkarsh Bandhu

Partner

Utkarsh is a seasoned debt lawyer with extensive experience in various banking and...

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Finance

  1. Advised Dalmia Polypro Industries Private Limited on raising USD 30 million external commercial borrowing from United States International Development Finance Corporation (USIDFC) for establishing a greenfield recycling facility in Nashik, Maharashtra.
  2. Advised Polygenta Technologies Limited (a leading PET recycling company engaged in sustainable circular economy) on the external commercial borrowing raised from DEG (German Investment and Development Company mbH) and Danish development financier, IFU.
  3. Advised HDFC Limited on providing various credit facilities under the Emergency Credit Line Guarantee Scheme (ECLGS) formulated by the Department of Financial Services, Ministry of Finance, Government of India for an amount aggregating to ~Rs. 4,50,000,000,000 to provide 100% guarantee coverage to banks and NBFCs to enable them to extend emergency credit facilities to business enterprises/ MSMEs in view of COVID-19 to meet their additional term loan/ working capital requirements.
  4. Advising (on an ongoing basis) the SWAMIH Investment Fund I, the AIF set up by the Government under the Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects, on their investments in various real estate projects in Mumbai, NCR, Bangalore, Rajasthan, Kolkata etc.
  5. Advising (on an ongoing basis) for Citibank’s investments in debt instruments issued by major Indian conglomerates, such as JSW Steel Limited, JSW Energy Limited, Skoda Auto Volkswagen Private Limited, ECL Finance Limited, Bharti Airtel Limited, Bharti Hexacom Limited, John Deere Financial India Private Limited, National Engineering Industries Limited and Mahindra Rural Housing Finance Limited.
  6. Advised HDFC Limited on its merger with HDFC Bank to create India’s second largest bank. This deal marks India’s largest ever public M&A transaction valued at USD 60 Billion.
  7. Advised Citicorp Finance (India) Limited (CFIL), Citigroup’s flagship non-banking finance entity, in connection with its proposed private placement of non-convertible debentures for an amount aggregating up to Rs. 10,000 crore.
  8. Advising HDFC Capital Affordable Real Estate Fund – 3 in the Adarsh Developers group, by way of subscription to listed and unlisted non-convertible debentures.
  9. Advised Hong Kong based alternative investment fund, Ares SSG backed ARC, Assets Care and Reconstruction Enterprise (ACRE), on their purchase of stressed loan portfolios from HDFC Limited aggregating to Rs. 1,180 crore.
  10. Advised ACRE on the acquisition of a retail-cum-SME loan portfolio of an aggregate value of approximately Rs. 2,613 crore from JC Flowers Asset Reconstruction Company.
  11. Advised BluPine Energy on INR 1,787 crore financing for renewable energy projects.
  12. Advised Adhunik Power & Natural Resources on Edelweiss ARC’s Exit Transaction.
  13. Advised Altico Capital in respect of partial settlement/ restructuring of credit facilities provided by it to the Sanjivani Integrated Township LLP (being part of the Pharande Group) and investment by SC Lowy in the Vaarivana Township, Pune.
  14. Advised HDFC Life Insurance Company Limited on raising of funds through issuance of listed non-convertible debentures for an aggregate amount of Rs. 350 crore on private placement basis.
  15. Advised Citibank and ICICI Bank on grant of credit facilities to develop Aditya Birla Group’s solar power projects in Maharashtra, Rajasthan, Gujarat, Karnataka and Odisha.
  16. Advised India Resurgence Fund, promoted by Piramal Enterprises Limited and Bain Capital Credit in its investment of up to Rs. 615 crore ($83 million) in Gujarat-based, Setco Group.
  17. Advised on Altico Capital’s grant of credit facilities to real estate developers, including Jatia group, Manjeera group, Naiknavare group, Geopreneur group and Guardian group, for development of residential/ commercial projects in Maharashtra, Telangana etc.
  18. Advised HDFC Limited (now merged with HDFC Bank) in respect of credit facilities provided by them to a leading real estate developer for a cumulative deal value of ~Rs. 2,800 crore for construction/ development of ultra-luxury apartment projects in Bengaluru.
  19. Advised HDFC Limited (now merged with HDFC Bank) on the credit facilities extended by them to the Reliance Industries group, Tata Motors, Tata Power and JSW group for an amount aggregating to ~Rs. 9,000 crore.
  20. Advised KKR India on structured financing provided to major Indian conglomerates including Jagatjit Industries Limited, Tyche Technologies Private Limited (part of the Granules India group) and the Shapoorji Pallonji group.
  21. Advised Barings Credit on their investment in a pharmaceutical company.
  22. Advised on KKR India’s grant of credit facilities to real estate developers, including Omkar group and Prince Foundation for development of residential/ commercial projects in Maharashtra, Tamil Nadu etc.
  23. Advised HDFC Limited (now merged with HDFC Bank) on their assignment of stressed loan portfolio worth more than Rs. 1,300 Crores, to Assets Care and Reconstruction Enterprise (ACRE), the ARC arm of Ares Management Asia, one of the largest credit-focused alternative investment managers in Asia-Pacific.
  24. Advised State Bank of India in relation to the credit facilities aggregating to Rs. 168 Crores to a warehouse and industrial park construction company.
  25. Advised HDFC Limited (now merged with HDFC Bank) in relation to credit facilities provided by them to a Reliance Industries group company engaged in development of an SEZ at Navi Mumbai.
  26. Advised ICICI Bank Limited and Standard Chartered Bank in a syndicated loan transaction for a sustainable eco-tourism project.
  27. Advised ICICI Bank and HDFC Limited on funding for the construction of ‘Intellion Park’ being developed by the Tata Realty group in Gurugram.
  28. Advised ICICI Bank and Axis Bank, in relation to a syndication loan facility provided by them to a multi-specialty hospital in Mumbai.
  29. Advised State Bank of India, in relation to the credit facilities amounting to Rs. 104.45 crores provided by them to Clean Max Aditya Power Private Limited.
  30. Advised IndusInd Bank on the credit facilities extended by them to Gateway Office Parks Private Limited.
  31. Advised HDFC Limited in transfer of loans of Reliance Capital Limited to an asset reconstruction company.
  32. Advised IARC (Blackstone’s asset reconstruction arm) on the acquisition of various NPA retail loan portfolios from HDFC Bank.
  33. Advised the consortium of lenders of Garden Silk Mills Limited led by Bank of Baroda, which involved assignment of the loan portfolio of lenders of ~ Rs. 1,600 crore, in favour of an asset reconstruction company on the resolution of the account of GSML under RBI’s circular dated June 7, 2019 on the resolution of stressed assets.
  34. Advised Bain Capital and the asset reconstruction arm of India Resurgence Fund on the acquisition of a loan against property (LAP) portfolio of Religare Finvest Limited.
  35. Advised Standard Chartered Bank in a sale of loans to an asset reconstruction company.
  36. Advised SWAMIH Investment Fund I on its investment of Rs. 300 crores in the Hubtown Group project ‘Rising City’.
  37. Advised Nisus Finance & Investment Managers LLP in its investment in Skytech Estates Private Limited.