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 5 million 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.


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Landmark Ruling of the Supreme Court on Personal Guarantors under IBC will ...

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Lenders fear taxmen will eat into recovery pie

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Breaking barriers. IBBI’s new measures aim to boost efficiency in personal guarantor ...

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Empowering home buyers: IBBI’s game changing amendments in IBC regulation

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Important Judgements under SAEFAESI Act, DRBT Act & IBC

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IBBI’s game changing reforms: Bridging gaps & boosting efficiency in corporate insolvency

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NCLAT Provides Clarity That IBC Is Not A Debt-Recovery Mechanism

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Stressed realty projects: IBBI exempts certain home buyers from regulatory fee

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Ola Postpaid: A failed customer service

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Can Go First take off once again?

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Rights of Creditors and Protection of Individual Right of Borrower/Promoters

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Reliance Capital's Insolvency: Value Maximisation Prevails Over Process Sanctity

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A compilation of some recent judgements on critical issues under the Insolvency ...

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Securitization of Stressed Assets framework (SSAF): Discussion paper of the Reserve Bank ...

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MC Explains: Will tweaks in insolvency law help homebuyers?

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SEBI consultative paper for framework for protection of interest of public equity ...

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Interplay of some of the recent judgements under IBC

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IBBI chief urges creditors to file for default fast

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IBC journey so far

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Legal updates on banking sector

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In a big policy shift RBI allows asset reconstruction companies to be ...

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India’s Road Map for Digital Lending - Action Points for The Lenders

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Interplay of some of the recent judgments under IBC

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Policy shift IBBI allows Insolvency Professional Entity to become an IP

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MC explains: SBI's insolvency plea against Jaiprakash Associates may lead to tough ...

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Trust Theory, Security and Margin Money: The effect of Moratorium under the ...

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Stage set for hybrid resolutions and faster realization of assets under insolvency ...

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IBBI bars RPs from accepting or sharing fees with other professionals

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Hard learned lesson: Not wearing rear-seat belt may affect claim payout

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Corporate insolvency: MCA empowers resolution professionals to sign and file e-charge forms

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RCap insolvency: Will creditors lose out in the resolution?

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Recent landmark judgements of the Supreme Court under IBC

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IBC cases: For every Rs.100 of claims admitted, banks took haircut of ...

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IBBI proposes ’regulation fee’ on corporate insolvency resolution plans to shore up ...

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Insolvency regulator IBBI proposes to enable entities to become insolvency professional

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IBBI invites suggestions on separate regulatory framework for home-buyers under IBC

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How Are Operational Creditors Different from Financial Creditors

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Rs two lakh crore 'avoidance transaction' claims pending with NCLTs

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Financing & the Hospitality Sector

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Why did RBI bar Paytm Payments Bank from onboarding new customers?

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Union Budget - An Analysis by Economic Laws Practice

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IBBI empowers adjudicating authority to pick IPs from panel to curb delays

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ELP Knowledge Series – Part 2 of 2021

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IBC @ 5 Plays Saviour to 396 Corporates

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Claim Period Under Bank Guarantees

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Liquidity Window for contact intensive sectors

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ELP - Knowledge Series – Part 1 of 2021

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Union Budget 2021: An Analysis

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After RBI's ruling on troubled builders dues, Rs 20k-crore realty loans in ...

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Union Budget 2020: An Analysis

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ELP - Knowledge Series - India Update - Part 4 of 2019

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Karvy clients challenge IBC amendment on individual creditors

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ELP Banking & Finance Update: Essar Steel - Arcelor Mittal Supreme Court ...

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ELP - Knowledge Series - India Update - Part 3 of 2019

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IBC should be home buyers' last resort

26 Aug 2019 | Read More

More banks likely to have been singed by Bhushan Power fraud

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Union Budget 2019 - An Analysis

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ELP Knowledge Series - India Update Part 2 of 2019

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A chance for promoters to pull out distressed companies

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Legal fraternity divided on apex court order on NPA circular

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ELP Knowledge Series - India Update Part 1 of 2019

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Budget 2019: Judicial Reform Is What This Economy Needs Now

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Interim Union Budget 2019 - An Analysis

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Are home buyers secured financial creditors or unsecured creditors under IBC?

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ELP Knowledge Series - India Update Part 2 of 2018

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Security of Home Buyers and other Allottees under IBC

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IBC | Alert | IBBI's circular in aid of IPs conducting CIRP

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IBC | Legislative Alert | CIRP | Creditors in a class, authorised ...

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IBC | Legislative Alert | IPEs cannot act as IP and to ...

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ELP | Legislative Alert | RBI - Revised Framework for Resolution of ...

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Union Budget, 2018

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IBC India Guide

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The Indian Insolvency and Bankruptcy Regime

8 Sep 2017 | Read More

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13 Jul 2018 | Read More

IBC | Case Law Alert | Liquidation Order not a bar to ...

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IBC | Case Law Alert | Whether being empanelled with a financial ...

27 Jul 2018 | Read More

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IBC | Case Law Alert | Income-tax department not a secured creditor ...

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IBC | Case Law Alert | Criminal proceedings are not covered under ...

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IBC | Legislative Alert | Pending disciplinary proceedings against Insolvency Professionals | ...

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IBC | Legislative Alert | Provisions in relation to financial service providers ...

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IBC | Case Law Alert | Exclusion of certain period from 270 ...

10 May 2018 | Read More

IBC | Case Law Alert | Right of operational creditors / suspended ...

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IBC | Legislative Alert | SEBI amends its regulations to provide for ...

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IBC | Legislative Alert | Ordinance, 2018 to amend IBC approved by ...

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IBC | Legislative Alert | IBBI clarifies on IPs' fees, expenses and ...

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ELP Knowledge Series - India Update Part 1 of 2018

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Recognitions