Banking & Finance

Overview

ELP has a robust and diverse Banking & Finance practice with separate verticals in project finance, corporate finance and structured finance. We have advised borrowers, lenders, and security providers and have a deep understanding of legal and commercial issues that may possibly arise in the life of a lending transaction. An in-depth local knowledge of the application of various statutes with a familiarity of international best practices, allows us to understand and anticipate potential legal and commercial risks that may arise in a transaction. This coupled with our constant endeavour to destructure, ideate and innovate, enables us to provide effective solutions to all stakeholders in a transaction.

Our Banking & Finance team has extensive experience in the areas of rupee financing, external commercial borrowings (“ECB”), overseas direct investments (“ODI”), acquisition financing, project financing and ancillary security documentation. Our lawyers have also advised on a gamut of securitisation/ asset reconstruction transactions and represented some of the pioneering asset reconstruction companies in India.

Our client base includes large public sector and private sector banks and their consortia, global banks, funds and investment houses, asset reconstruction companies as well as domestic and foreign commercial enterprises. We have successfully handled large, complex and pioneering transactions from the initial structuring and term sheet stage through to completion of transactions ranging from USD 5million to USD 2 billion. The combination of our vast experience, deep knowledge and innovative approach has led us to being the advisors of choice for complex structured transactions.

Services

Advisory & Litigation support on IBC issues

Our multidisciplinary approach and core insolvency team comprising of talent from litigation, tax, banking, corporate and regulatory backgrounds, makes ELP well positioned to help our clients on most complex restructurings. Our clients comprise of operating creditors, banks and other financial investors as well as steering committees, insolvency practitioners and their directors and/or officers. The experience of the team in debt restructuring, recoveries, equity capital raising, and restructuring, open offers, distressed M&A activity and related advisory work has helped in clients in steering through the issues and challenges faced under the Insolvency and Bankruptcy Code (IBC). Our work covers Pre IBC related initiation (Review & Analysis); IBC Initiation (Application Process); Insolvency Process (Corporate Insolvency Resolution Process); Implementation of the resolution plan and General Advisory, structuring, documentation and Corporate work.

Rupee and Foreign Currency Debt

Drafting transaction documents for finance transactions, including structured financing, acquisition financing, asset financing, project financing and corporate financing. This includes drafting, negotiating and finalising the respective loan agreements, security documents, contractual comfort documents, conditions compliance and ancillary documentation (for example escrow agreements, trust and retention account agreements, inter-creditor agreements etc.). We also provide a review and diligence from a lenders’ perspective on project documents.

Corporate Debt

Structuring and documentation including review of private placement memorandum, diligence and assistance in placement with relevant stock exchanges.

Restructuring

Assistance on transaction documents and advice on restructuring transactions, including securitisation structures. This would also include review of existing debt documents and recommending solutions on issues being faced by clients.

Regulatory

Providing regulatory advice in relation to issues under the Foreign Exchange Management Act, 1999 and its ancillary regulations.

Recognitions