The Firm offered legal advice as the Lenders’ Legal Counsel to the consortium of lenders led by L&T Infra Debt Fund Ltd. for the financial assistance of approximately INR 1439 million sanctioned by the Lenders in form of term loan facility to the group companies of Rays Power Infra Pvt. Ltd., for the purposes of refinancing the outstanding project debt of those companies in relation to their respective solar power projects in the States of Telangana, Uttarakhand and Karnataka and for meeting other expenses related to transaction/financing.

Further, the Firm has also assisted L&T Infrastructure Finance Company Ltd. as their legal counsel for the financial assistance of INR 12.71 Crores sanctioned to the group companies of Rays Power Infra Pvt. Ltd. in the form of working capital demand loan facility for their respective solar power projects. The scope of work included conducting due diligence of the Borrower, its promoters and project documents, drafting of the financing and security documents, advising on the title verification pertaining to the project land and issuing opinion on the legal issues.

The Firm acted as the legal advisor to IndusInd Bank Ltd. for the due diligence exercise of Clean Solar Power (Bhadla) Pvt. Ltd. and the documentation pertaining to financial assistance of upto INR 13300 Million sanctioned by it to Clean Solar Power (Bhadla) Pvt. Ltd. for the purpose of part-financing of 300 MW AC solar power project at Bhadla Phase III, IL&FS Solar Park, in the State of Rajasthan.

The scope of work included conducting due diligence of the borrower, project documents, drafting of the financing and security documents and issuing an opinion on the legal issues.

The Firm has advised as the Legal Counsel to Tata Cleantech Capital Ltd. for the financial assistance of INR 28.88 Crores sanctioned to AMPSolar Ventures Pvt. Ltd. and AMPSolar Generation Pvt. Ltd., for the purposes of developing, implementing, constructing and operating the 10.5 MW DC solar power project in the premises owned by Kochi Metro Rail Ltd. at District Kochi, Kerala and depot of L&T Metro Rail (Hyderabad) Pvt. Ltd. and 22 (twenty two) other stations at District Hyderabad, Telangana.

The scope of work included drafting of financing and security documents, conducting due diligence on the borrowers, its promoters, project documents and issuing opinions on the legal issues.

The Firm has advised as the Lenders’ Legal Counsel, to the consortium of lenders led by L&T Infrastructure Finance Company Ltd. (‘Lenders’) for the financial assistance of approximately INR 9,840 Million sanctioned by the lenders in the form of term loan facility to the group companies of ACME Solar Holdings Ltd., for the purposes of refinancing the outstanding debt of those companies in relation to their respective solar power projects in the State of Andhra Pradesh for their collective capacity of 160 MW and for meeting other expenses related to transaction/financing.

The scope of work included conducting due diligence on the borrower companies, their promoters, and the project documents, reviewing the title search reports of the project land prepared by the local counsels appointed on this behalf, issuing an opinion on the legal issues, drafting of the financing and security documents.

The Firm acted as the legal advisor to PFC for the financial assistance of INR 1350 Mn to Timarpur-Okhla Waste Management Company Ltd., for the purpose of development, construction and operation of its waste to energy project based on municipal solid waste on design, build, finance, operate and transfer (DBFOT) basis situated in the State of Delhi. The scope of work included drafting of financing and security documents, conducting due diligence on the borrower, its promoters and project documents and issuing opinions on the legal issues

The Firm acted as the legal advisor to PTC India Financial Services Ltd. for the due diligence exercise of DBL Bellary Byrapura Highways Pvt. Ltd. and Dilip Buildcon Ltd. and the documentation pertaining to financial assistance of upto INR 4719 Million (including a sub-limit of, a letter of credit/ counter guarantee of up to INR 1445.3 Million) sanctioned to DBL Bellary Byrapura Highways Pvt. Ltd. and financial assistance of upto Rs. 657.0 Million for issuance of performance guarantee to Dilip Buildcon Ltd. with respect to four laning of existing two-lane Ballari – Byrapura section of NH-150A from km 253.600 to km 308.550 in the State of Karnataka and Andhra Pradesh under Bharatmala Pariyojana on Hybrid Annuity Mode (54.950 km).

The scope of work included conducting due diligence of the borrower, its promoter, project documents, drafting of the financing and security documents, conducting title verification exercise pertaining to the project sites in the State of Rajasthan and issuing an opinion on the legal issues.

The Firm acted as the legal advisor to Saraswat Co-Operative Bank Ltd. for the documentation pertaining to financial assistance of upto INR 400 Million sanctioned to of Clean Solar Power (Bhadla) Pvt. Ltd. for the purpose of part-financing of the lingasugur wind farm project of 40 MW situated at Villages Hirehesarur, Khota, Chikahesarur, Amaravathi, Basapur in Raichur District in the state of Karnataka. The scope of work included drafting of the financing and security documents, conducting title verification exercise pertaining to the project sites in the state of Karnataka and issuing an opinion on the legal issues.

The Firm has advised L&T Infrastructure Finance Company Ltd., for the financial assistance of aggregating up to INR 560.00 Million sanctioned by L&T Infrastructure Finance Company Ltd. in the form of working capital rupee facility to ACME Jaipur Solar Power Pvt. Ltd. (a subsidiary of ACME Solar Holdings Ltd.), for the purpose of working capital requirements of the company’s 325 MWp DC capacity solar power project at Rewa Ultra Mega Solar Park in the State of Madhya Pradesh.

The scope of work included conducting due diligence on the borrower company and its promoter(s), drafting of the financing and security documents and issuing an opinion on the legal issues.

The Firm acted as the legal advisor to PTC India Financial Services Ltd. for the due diligence and documentation pertaining to subscription of INR 2000.00 Million non-convertible redeemable debentures issued by Ostro Energy Pvt. Ltd., which amounts were utilized for the purposes of implementation of wind and solar power projects of the Renew Group.

The scope of work included conducting due diligence of the issuer and other security providers, drafting of the offer documents, resolutions, financing and security documents and issuing an opinion on the legal issues.

The Firm has advised Tata Cleantech Capital Ltd. for the financial assistance of upto INR 5.00 Crores sanctioned to Fujin Wind Parks Pvt. Ltd., for the purpose of meeting the working capital requirement of 46.00 MW wind power project with (20 nos. of General Electric make 2,300 kW each WEGs) at Village Rekulakunta, Diguvanelatur and Somireddipalle, Mandal Brahmamgiri Matham, District Kadapa in the State of Andhra Pradesh. The scope of work included drafting of financing and security documents and issuing opinions on the legal issues.

The team was led by Girish Rawat, Partner along with Srivar Awasthi, Senior Associate and Anmol Bhargava, Associate.

The Firm has advised PTC India Financial Services Ltd. for the financial assistance of upto INR 300.00 Crores sanctioned to Azure Power India Pvt. Ltd. (“Company”), for the purpose of incurring initial capital expenditure for implementation and execution of ground-mounted solar power projects currently aggregating to total capacity of 300 MW being implemented by the Company through its SPVs, which may subsequently be utilized on a rotational basis for the implementation and execution of the future projects of the Company.

The scope of work included drafting of financing and security documents conducting due diligence on the Company and project documents and issuing opinions on the legal issues.

The Firm acted as legal advisor to IndusInd Bank Ltd. for the due diligence and documentation pertaining to financial assistance (including fund based and non-fund based assistance) of up to INR 1510.00 Million sanctioned to Kanpur River Management Pvt. Ltd. (a wholly-owned subsidiary of Shapoorji Pallonji And Company Pvt. Ltd.) for the purpose of designing, building, financing and/or renovating, completing, constructing, operating and maintaining 7 (seven) sewage treatment infrastructure plants and associated infrastructure of these plants/projects at various locations near Kanpur, in the State of Uttar Pradesh. The Project is being constructed and/or operated through hybrid annuity-based PPP model under the National Mission for Clean Ganga.

The scope of work included conducting due diligence of the borrower company, drafting of the resolutions and certificates as per precommitment conditions of the sanction letter, drafting of the financing and security documents and issuing opinion on the legal issues.