Banking & Finance - ARA LAW

ARA LAW strongly believes that every deal it works on is unique to its context and requires a specially assembled team picked from among its specialist practice areas. Our Banking & Finance team has had the unique opportunity of working seamlessly across all of the Firm’s specialist groups and deals that the Firm has advised on. Given the range of clients and the broad spectrum of corporate commercial work that we handle, this has meant that our Banking and Finance has had unparalleled experience in all manner of corporate transactions involving international and domestic market leaders. This has also meant that the team has stayed on top of all the sweeping changes in domestic financial regulations while at the same time, understanding potential conflict and compliance issues in the international context. And where a bank or a financial institution has been a client, ARA LAW has been able to effortlessly create a bench of relevant specialists from among its other areas of specialism to ensure that the client receives advise that ensures they stay ahead of the competition.

ARA LAW has over the last two decades developed a knowledge-backed practical and common sense approach to complex banking and finance transactions covering a wide spectrum of financial products, including project finance, syndicated lending and structured products. We regularly advise public and private sector banks, non-banking financial companies and financial institutions on domestic and cross border transactions. And in all these matters, we always take our clients on board as an important member of our team to ensure that their commercial objectives are met within stipulated transactional timelines. It is for this reason that we have been recognized for our “to the point commercially viable advice” – advice that is innovative and rich with the knowledge of the team’s varied experience.

Debt Instruments

Structuring and documentation in relation issuance of listed/unlisted/secured/unsecured non-convertible debentures; tax saving/deep discount bonds, masala bonds; money market instruments such as treasury bills, commercial bills, commercial papers, certificate of deposits, inter corporate deposits, banker’s acceptance, repurchase agreements and other short term securities.

Project Finance

Structuring and documentation in relation to setting up of power projects and greenfield plants; construction financings; refinancing of existing rupee facilities, security creation and perfection for project securities; term loan facilities; inter-creditor issues; restructuring of working capital debt; concession agreements and bid documentation for selection of concessionaire; transmission agreements; operation and maintenance arrangements; procurement and maintenance arrangements; production sharing arrangements; Engineering, Procurement and Construction arrangements; BOOT model based projects; off-take arrangements.

Structured Finance

Structuring, due diligence and documentation in relation to a company’s debt obligations under the corporate debt restructuring forum; restructuring debt portfolios; sale of homogeneous illiquid assets to multiple buyers by way of pooling and issuance of pass through certificates backed by receivables and cash flows; restructuring stressed and non-performing assets; restructuring of foreign debt including foreign currency convertible bonds; acquisition of stressed financial under SARFAESI, 2002; CDR Cell guided debt restructuring; securitisation of asset backed securities and mortgage backed securities.

Acquisition Finance

Structuring and documentation in relation to foreign currency term loan facilities in connection with overseas acquisitions; foreign bridge loan facilities; leveraged buyouts; (d) acquisition of majority shareholding interests in targets; refinancing transactions.

Syndicated Loans and External Commercial Borrowings

Structuring and documentation in relation to cross border leveraged recapitalization transactions; bridge financing and subsequent long term refinancing in relation to purchase of assets; financing for onward financing of infrastructure projects; multi-tranche dual currency syndicated term loan facilities; debt cum equity financing for new projects; dollar denominated term loan facilities from overseas banks.

  • Advised Fedfina Financial Services Limited on the construction finance transactions of Zaveri Constructions Private Limited, Sarovar Associates and S&H Associates, M/s Swati Buildcon, M/s Rushabhdev Infraprojects Pvt Ltd, M/s Kartik Enterprises and M/s Mana Constructions.
  • Advised ICICI Prudential Private Limited as the lender’s counsel in relation to the project financing of Akshaya Private Limited, a company engaged in the business of real estate construction.
  • Advised Waaree Energies Private Limited in relation to their EPC contract.
  • Advised Avanti Traders Private Limited in relation to the loan granted in favour of Anand Bose Construction Private Limited.
  • Advised AARNINE Financial Markets Advisory LLP/ JBF Industries Ltd. on several corporate finance transactions including Suryachakra Power Corporation Ltd. and Supreme Housing Ltd.
  • Advised ICICI Prudential Assets Management Co. Ltd. in reviewing and modifying the International Swaps and Derivatives Association (“ISDA”) Schedule in respect of the various Schemes of the ICICI Prudential MF.
  • Advised Prudential Fund Management Services Pte. Limited in modification of the ISDA Schedule, power of attorney and issuance of legal opinion.
  • Advised HDFC Asset Management Company Limited in relation their ISDA Documentation.
  • Advised ICICI Prudential Asset Management Company Limited in reviewing of Derivatives Agreements with Standard Chartered Bank, Royal Bank of Scotland, HDFC Bank, BNP Paribas, ICICI Bank, HSBC, ING Vysya Bank, Hong Kong and Shanghai Banking Corporation Limited. in line with the ISDA Master Agreement 2001/2002.
  • Advised ICICI Prudential Asset Management Company Limited in reviewing of Derivatives Agreements with Standard Chartered Bank, Royal Bank of Scotland, HDFC Bank, BNP Paribas, ICICI Bank, HSBC, ING Vysya Bank, Hong Kong and Shanghai Banking Corporation Limited. in line with the ISDA Master Agreement 2001/2002.
  • Advised ING Investment Management in relation to the ISDA Documentation with other banks.
  • Advised Maverick Capital in reviewing the ISDA Representation Letters.
  • Advised SBI Mutual Fund in review of Schedule to ISDA Master Agreement proposed to be executed with Citibank NA.