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Banking & Finance is one of the founding practices of the Firm and continues as one of our core practice areas. Our practice represents several Mutual Funds, Asset Management Companies, Banks and Financial Institutions. Our Banking and Finance practice includes Mutual Funds, Portfolio Management Advisory Services; Project Finance, Debt Restructuring, Derivatives; Securitization.  
   
 
Mutual Fund & PMS
 
ARA is known to be one of the leading law firms in the mutual fund/portfolio management advisory service space and we believe we represent almost 40% of the mutual funds in India. We regularly advise and assist the country’s leading mutual funds, AMCs and portfolio managers in drafting of the documentation, resolving complex legal/regulatory issues and following up with the regulators. Our practice inter alia focuses on:  
Drafting, reviewing and updating Offer Documents for various Mutual Fund schemes
Drafting the Portfolio Management Service Agreements
Advising on a range of complex structured product from tax, legal and regulatory perspectives
Drafting Investment Management Advisory Agreement, Trust Deed and other related agreements, Shareholders’ Agreement, Distribution Agreements, Software Agreements, Data Service Agreements, Service Level Agreements, etc.
Assisting clients in refining structures that satisfy both their business strategy and the appropriate legal and regulatory requirements
Providing legal opinions on several aspects of the SEBI Regulations, such as, trusteeship obligations, restrictions for AMC, disclosures to be made in the offer documents, directors liabilities, etc.
Representing our clients before Indian regulatory bodies including the Reserve Bank of India (“RBI”), the Securities and Exchange Board of India (“SEBI”), and the Ministry of Finance (“MoF”).
 
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Project Finance
 
Our Project Finance team regularly advises our clients seeking individual and consortium lending for finance long-term infrastructure and industrial projects and also advices sponsors and fund providers on financing of projects across various sectors. Our team offers specialized and in-depth legal services for major project works with a combination of structured finance techniques such as asset acquisitions, securitizations, portfolio financing, investment funds and derivatives products.  
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Debt Restructuring
 
We advice on corporate debt restructuring, negotiating with consortium lenders, finalization and implementation of settlement schemes, drafting of negotiated loan documents, settlement deeds, issuance and marketing of security papers.  
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Derivatives
 
ARA LAW regularly advises on financial products including interest rate, currency, credit, equity and commodity derivatives and other structured financing arrangements including ISDA (International Swaps and Derivatives Association) Agreements, Options and Futures Contracts. We assist clients to refine structures that satisfy both their business strategy and the applicable legal and regulatory requirements.  
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Securitization
 
Securitization market in India is a relatively new and fast evolving. Our practice in this sector includes advising funds, sponsors, credit enhancers, Foreign Institutional Investors and investors on investment norms, eligibility, contribution contracts, registration requirements, enforcement of security interests.  
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December 6, 2008
Further measures announced by RBI for managing liquidity and enhancing growth
October 16, 2008
Enhancement of FII investment limits in Corporate debt and dispensing with the requirement of 70:30 investments in equity and debt
February 25, 2009
Amendments to SEBI (Disclosure and Investor Protection) Guidelines, 2000
April 29, 2009
Buyback / Prepayment of Foreign Currency Convertible Bonds (FCCBs)and Loans to Non-Residents/third party.
May 6, 2009

New regime for Private Equity (PE) investments likely soon

 

September 18, 2009

Prior approval of RBI required in cases of acquisition/transfer of control of NBFCs accepting deposits

 

September 25, 2009
Revised Code of Conduct for Mutual Funds Intermediaries and SEBI Board Meeting
 
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