Wadia Ghandy & Co. acted as lender’s legal counsel for a consortium of lenders consisting of Kotak Mahindra Bank Limited, Nomura Capital (India) Private Limited, Aditya Birla Finance Limited, STCI Finance Limited and certain other institutions, in the refinancing of TARC Limited’s existing debt.

The transaction included availing of facilities and issuance of non-convertible debentures aggregating to INR 1250 Crores by Echo Buildtech Limited and TARC Projects Limited, SPVs of TARC Limited. The security for the facility and debentures was anchored on 2 of the projects being developed by TARC – TARC Kailasa and TARC Tripundra.

The transaction was led by Partners Shabnum Kajiji, Jash Agrawal assisted by Senior Associates Ananya Raman Varma, Ms. Teesta Sen and Associates Ms. Aashna Shah, Mr. Mohit Jain and Ms. Priyanshi Jain. Our partner Abir Patel assisted in certain RERA and litigation diligence related matters in the transaction.

Courtesy: Wadia Ghandy & Co.’s LinkedIn Page