BANKING AND FINANCE/SECURITIES/CAPITAL MARKETS

(A) FINANCING DOCUMENTATION

The total cost of projects for which financing documents for loans and ECB handled by us is over Rs. Twenty Six Thousand Crores (about US$ 5.64 billion)

• Drafting and vetting of various agreements for leading Banks and Financial Institutions as also for leading foreign and Indian clients- including huge infrastructure projects (Road/Electricity/Real Estate) - for Public Sector Banks, leading Private Sector Banks and Foreign Banks relating to credit facilities granted to Corporate Borrowers for Project Finance, Term Loans, Working Capital facilities etc. under exclusive, Consortium and Multiple Banking arrangements.
   

• Infrastructure and other Project Financing Agreements; Common Loan Agreement, Term Loan Agreement, Hypothecation Agreement, Escrow Account Agreement, Escrow Agent Agreement, Security Trustee, Lenders Agent Agreement, Memorandum of Operating Procedures, Corporate Guarantees, Lenders Agent Agreement, Memorandum of Operating Procedures, Power of Attorney, Indenture of Mortgage, Agreement for Pledge of Shares, Deed of Guarantee; forward trade agreements, currency agreements, and other SWAPS and derivates agreements based on the ISDA Master Agreement for due compliance with the FEMA regulation and RBI Guideline.

Some of the Infrastructure and other Project Financing documents drafted /vetted by our firm are:

LEGAL ADVICE TO CONCESSION AWARDER – NHAI
 

SERVICES RENDERED TO OTHER CLIENTS
 

Sl. No.	Advice to Commercial Lender	Type of the Project	Relevant Period	Amount Rs. (in Crores)
1	United Bank of India	Setting up of two double circuit transmission networks (which include transmission towers, earth wire, hardware fittings and accessories for conductor, and insulators) primarily for evacuation of power at 400 kv voltage level from the power to the substations.	Apr-09	435
2	Oriental Bank of Commerce	Part finance for design, construct, own and operate a coal fired 600 MW (comprising two units of 300 MW each) coal based thermal power projects.	May-09	1517
3	United Bank of India	Part finance of implementation of the Project for the development, design and commissioning of a power plant.	May-09	6150
4	Bank of India, Bank of Baroda and Punjab National Bank	Bank of India, Bank of Baroda & Punjab National Bank Corporate Guarantee for the amount of Euro 47.5 Million.	Jul-09	330
5	State Bank of Mysore and Dena Bank	Drafting of Finance documents with respect to Rs. 47 Crores loan granted to M/S. WADHAWAN HOLDINGS PRIVATE LIMITE. The Assignment included drafting of : (a) Common Loan Agreement (b) Trust and Retention Agreement (c) Deed of Hypothecation (d) Interse Agreement (e) Memorandum of Entry (f) Declaration.	Jul-09	47
6	Bank of Baroda and Syndicate Bank	Corporate Guarantee for the amount of USD 10 Million.	Nov-09	46.47
7	Bank of Baroda	Corporate Guarantee for the amount of USD 70 Million by New Delhi Television Limited to its subsidiary NDTV Networks PLC	Nov-09	325
8	Bank of India	Corporate Guarantee for the amount of USD 10 Million.	Nov-09	46.47

(B) ISDA MASTER AGREEMENTS

• Vetting / drafting of ISDA Master Agreements for a number of Banks including HSBC Bank; ICICI Bank; ICICI Securities Ltd; Centurian Bank / Centurian & Punjab Bank.
   

• More than ten forward trade agreements, currency agreements, and other SWAPS and derivates agreements based on the ISDA Master Agreement for Centurion Bank/ Centurian & Punjab Bank.
   

• Retail Portfolio sale: Bank of NovaScotia: Drafting documents and assistance in negotiating sale of retail portfolio.
   

• Restructurng Loan / Security Documents: for all loans granted by a nationalized bank, to bring them in compliance with recent legislative developments.
   

• Drafted agreement on “Management of LOYALTY REWARDS PROGRAM” and Service Level Agreement, for their Debit Card customers, for State Bank of India.
   

• Legal opinion on Application of IndusInd Bank for Mastercard Membership of MasterCard Worldwide –approval for acquiring MasterCard transactions over ATMs and for issuing Visa Electron Debit Cards at a total cost of Rs. 149 lacs, with reference to Master Circular containing instructions / guidelines issued by RBI to Banks on para-banking activities including Smart / Debit Card Business and The Banking Regulation Act, 1949

(C) BONDS / DEBT ISSUES

• Private Placement of Innovative Perpetual Debt Issue (Series I) of Rs. 244 crs. having regard to SEBI Guidelines; Vetting of Disclosure Document for Private Placement of unsecured Non-Convertible Subordinated Perpetual Bonds in the nature of Promissory Notes (Series-II) of Rs.10 lakh each for cash at par aggregating to Rs.150 Crores with unspecified green shoe option-legal adviser for Syndicate Bank
   

• NHAI: Vetting the Memorandum of Private of Non-Convertible Redeemable Taxable Bonds (with benefits under section 54EC of Income Tax Act, 1961 for Long Term Capital Gains)
   

• India Infrastructure Finance Company Limited (IIFCL): opinion on various queries raised on Privately Placed Bonds to be issued by Public Limited Company with Green Shoe Option.
   

(D) LETTERS OF COMFORT

• Drafting/Vetting: Various foreign and Indian clients including M/s Randack Automotive GmBH, Germany: in respect of Credit Facility up to Rs. 21 Million, Bank Guarantee facility of Rs. 2.5 Million and term loan of Rs. 22.5 million sanctioned to M/s Randack Fasteners India Pvt. Ltd (subsidiary) by Syndicate Bank; Ministry of Civil Aviation through National Aviation Company of India Limited (NACIL) on “the exposure of Government in giving the letter of Comfort to support NACIL in its working capital requirements.”
   

• Drafting / vetting of Financing Documents on behalf of a large number of leading Commercial Banks.
   

• We have drafted Borrowing and Security documents for Public Sector Banks leading Private Sector Banks and Foreign Banks relating to credit facilities granted to Corporate Borrowers for Project Finance, Term Loans, Working Capital facilities etc. under exclusive, Consortium and Multiple Banking arrangements.