Firm Profile > Dhir & Dhir Associates > New Delhi, India

Dhir & Dhir Associates
D-55
DEFENCE COLONY
NEW DELHI 110 024
India

Banking and finance Tier 2

Dhir & Dhir Associates has been very active in project finance mandates recently. Alongside this source of work, the firm is experienced in advising lenders and borrowers on all aspects of transactions, including debt restructuring, securitisation and refinancing. Alok Dhir, who is a qualified insolvency professional, frequently assists distressed corporates with refinancing and restructuring arrangements. Girish Rawat has a wealth of expertise in project financing, securitisation and takeout financing.

Practice head(s):

Key clients

L&T Infrastructure Finance Company Limited

PTC India Financial Services Limited

IndusInd Bank Limited

HDFC Bank Limited

Tata Cleantech Services Limited

Saraswat Co-Operative Bank Limited

Fortum Solar India Private Limited

India Infradebt Limited

Indian Renewable Energy Development Agency Limited

Power Finance Corporation Limited

Dispute resolution: litigation Tier 2

Dhir & Dhir Associates is well-equipped to advise clients on a wide variety of civil and commercial disputes in India. Alok Dhir, who is a qualified Insolvency Professional and Chartered Accountant, has notable expertise in disputes spanning major sectors such as infrastructure, manufacturing, and aviation. Sachin Gupta focuses on complex civil and commercial litigation, including shareholder and contractual disputes. Varsha Banerjee represents a diverse set of clients in insolvency disputes and restructuring matters.

Key clients

Airports Economic Regulatory Authority (AERA)

Restructuring and insolvency Tier 2

With a longstanding reputation in the restructuring and insolvency market, Dhir & Dhir Associates has significant experience of handling complex restructurings of distressed companies in the public and private sector. Drawing upon close ties with other firm-wide practices, the department provides a one-stop service to investors and lenders in relation to debt restructuring, distressed M&A, refinancing and exit strategies. Managing partner Alok Dhir is a renowned practitioner in this field, having assisted multiple stakeholders in proceedings under various insolvency regimes besides the IBC. Debt recovery and corporate restructuring are notable areas of practice for Sachin Gupta, while Varsha Banerjee  is proficient in liquidation processes.

Key clients

Hotel Leelaventure Limited

IDBI Bank Ltd

Gloster Cables Ltd.

Amtek Auto, Fenace Auto

Soma Enterprises

JMT Auto Limited

Action Ispat & Power Limited

Jai Prakash Associates Ltd

Jindal India Thermal Power Limited

Power Finance Corporation

Athena Demwe Power Ltd.

Helios Photovoltaic Limited

Jindal Steel & Power Ltd

Punjab National Bank

Rattan India Power Limited

Vaayu Infrastructure LLP

Jassum Propcon Ltd

Capital markets Tier 3

Dhir & Dhir Associates' team predominantly handles private placements and investments, displaying particular expertise in terms of dealing with compliance issues involving the SEBI. Girish Rawat's experience includes advising clients on securitisation, IPOs, QIPs, takeover deals and various other capital markets transactions. Principal associate Antik Senapati specialises in the negotiation and structuring of debt and equity transactions.

Practice head(s):

Other key lawyers:

Key clients

Small Industries Development Bank of India (SIDBI)

Kuldip Singh Rathee and Vijay Rathe

Dispute resolution: arbitration Tier 3

Dhir & Dhir Associates's team focuses primarily on domestic arbitration proceedings involving regulatory matters in the aviation sector, debt recovery claims or construction projects. Alok Dhir specialises in corporate law, financial restructuring and real estate projects. Sachin Gupta concentrates on complex civil and commercial arbitration, including disputes regarding equity and debt transactions, shareholders' agreements and securitisation matters. Varsha Banerjee has notable expertise in insolvency law, debt restructuring and asset sale transactions.

Key clients

Airports Economic Regulatory Authority (AERA)

Projects and energy Tier 3

Dhir & Dhir Associates is skilled at assisting with contractual negotiations and regulatory issues, as well as project finance and structuring. Project developers, investors and governmental entities seek the practice's assistance in relation to transactions and development of infrastructure and energy projects concerning sectors such as mining, oil & gas, power, railways, roads, airports, and water & waste management. Restructuring expert Alok Dhir leads the department along with project finance specialist Girish Rawat. EPC contracts and PPP projects are notable areas of practice for Guranpreet Sarna.

Practice head(s):

Other key lawyers:

Key clients

IndusInd Bank Limited

PTC India Financial Services Limited

India Infradebt Limited

HDFC Bank Limited

Small Industries Development Bank of India (SIDBI)

Kuldip Singh Rathee and Vijay Rathee – SomDatt Finance Corporation Limited

Indian Renewable Energy Development Agency Limited

Tata Cleantech Capital Limited

Power Finance Corporation Limited

Real estate and construction Tier 3

The real estate team at Dhir & Dhir Associates demonstrates particular strength in debt restructuring matters and financing issues. Its notable areas of practice further include handling large-scale real estate transactions and foreign direct investment, having advised on a wide range of projects across India involving commercial and residential property, townships and special economic zones. Alok Dhir jointly leads the department with financing expert Girish Rawat. Other key individuals include Guranpreet Singh Sarna, who is skilled at assisting with engineering and construction contracts.

Practice head(s):

Other key lawyers:

Key clients

IIFL Home Finance Limited/ B.D. Infradevelopers Private Limited

Trident Infrahomes Private Limited and Romano Infrastructure Private Limited

Decathlon Sports India Private Limited

IIFL Home Finance Limited/MRG Infrabuild Private Limited

IIFL Home Finance Limited/Brick Town Developers Private Limited

IIFL Home Finance Limited/Pyramid Home Developers LLP

IIFL Home Finance Limited/Shivshakti Real Home Private Limited

Alchemist Asset Reconstruction Company Limited

TMT Tier 3

Dhir & Dhir Associates represents clients in regulatory proceedings before various bodies and courts in India. The team also advises clients in relation to various commercial agreements and corporate transactions, including joint ventures, acquisitions and investments. Maneesha Dhir regularly advises media and technology companies on all aspects of their operations, including challenging regulatory issues. KPS Kohli has a wealth of experience in litigation spanning numerous sectors, including telecoms, media and entertainment.

Practice head(s):

Key clients

AT&T

CME Group Inc.

Dion Australia

Gemalto Digital Security Pvt. Ltd

Innovatiview

Pisces Eservices Pvt. Ltd

Shanghai Pudong Development Bank (SPDB)

STT Global Data Centers India Pvt. Ltd

Telecom Regulatory Of India (TRAI)

HGC Global Communications

Corporate and M&A Tier 4

Dhir & Dhir Associates brings together multidisciplinary teams to handle the entire spectrum of issues inherent to M&A transactions, advising on tax structures, IP and employment law aspects. Covering domestic and cross-border transactions, the practice assists with purchase of shares and assets, joint ventures, and commercial agreements. Corporate restructuring is an area of particular focus for insolvency expert Alok Dhir. Associate Namrta Sudan Rai is another core team member, who is experienced in transactions involving the media, technology and telecoms sectors.

Key clients

SomDatt Finance Corporation Limited

GCC Services India Private Limited (GCC)

Fastway Transmissions Private Limited

Naya Raipur Development Authority

Bombay Hemp Company

Dion Global Solutions Limited

Cvent India Private Limited

FabIndia Overseas Private Limited

Taurus Asset Management Company Limited (TAMCO) and Taurus Investment Trust Company Limited (TITCO)

Rocking Engineering Solutions Private Limited

India Infrastructure Finance Company Limited

The firm: Established in 1993, Dhir & Dhir Associates is a full-service law firm and one of the largest in India with expertise and experience in every major practice area.

The firm has been recognised as a leader in restructuring and insolvency and widely acclaimed for banking and finance, capital markets and securities, infrastructure, corporate advisory, telecom and dispute resolution by Chambers & Partners, The Legal 500 Asia Pacific, IBLJ, IFLR1000, Asia Law Profile and other prominent legal publishers.

The firm has represented a myriad client base including business houses, MNCs, banks/FIs, public sector undertakings, besides central and state governments, ministries and departments.

Areas of practice: Corporate restructuring and insolvency: the firm offers a comprehensive service in corporate restructuring which involves commercial insolvency, insolvency related litigation, corporate debt restructuring, strategic debt restructuring, S4A, negotiated settlements, enforcement of security interest, securitisation process and refinancing. By providing critical advisory services, the firm has been able to put hundreds of companies on the revival path. The firm is considered to be a leader in this area.

Antitrust and competition: the firm represents clients (informants and defendants) before The Competition Commission of India, Competition Appellate Tribunal and Supreme Court of India. The team advises on issues including cartels and anti-trust investigations; abuse of dominant position; merger control regulations; bidding and public procurement etc.

Banking and finance: the firm offers comprehensive services to lenders, borrowers, advisers and other intermediaries. The team handles the entire spectrum of work including due diligence on the borrowers, promoters and projects/securities, structuring transactions, drafting term sheets and transactional documents, negotiations, advising on the regulatory framework and related issues.

Capital markets and securities: the firm provides assistance in fund raising, takeovers, buy back, initial public offerings (IPOs), private placements, renounceable and non-renounceable rights issues and other securities and Exchange Board of India (SEBI) related issues. The firm is recognised as a leader in public debt issues.

Corporate and commercial/FDI: the firm provides guidance to domestic and international clients on matters relating to general corporate compliance including but not limited to investment regulations, sectoral caps and regulatory issues/compliances. The firm advises on both inbound and outbound investments, licensing, franchising, M&A/JVs, agency arrangements, leasing, service agreements, royalty, technical know-how and general corporate advisory etc.

Dispute resolution and arbitration: the firm has a robust commercial litigation team with knowledge base in all forms of dispute resolution. The firm is acknowledged as a leader in this practice. The firm has handled complex litigation and has a track record of handling landmark cases before the Supreme Court, High Courts, District Courts, Tribunals etc.

Infrastructure and energy: the firm has advised regulators, government entities, project developers, investors, suppliers and contractors on diverse commercial/transactional issues. The firm has handled focused green field and brown field projects in airports, power and energy, mining, ports, oil and gas, railways/rapid transit system, roads, highways/bridges, urban infrastructure (water and solid waste management) telecom, etc.

Telecommunications: the firm has a robust telecommunication practice both in the regulatory sphere and litigation. It has advised and assisted the government of India, department of telecommunications (licensor) and companies (licensees) operating in this sector including international carriers, mobile and landline telecom operators, internet service providers, submarine cable operators/owners, cable landing station operators.

Criminal litigation: the firm has represented all types of criminal matters such as money laundering and corporate frauds, white-collar crimes/ economic offences, dishonour of cheques, quashing of bail etc in District Courts, High Courts and Supreme Court of India.

Department Name Email Telephone
Antitrust and competition
Banking and finance
Capital markets and securities
Corporate and commercial
Corporate restructuring and insolvency
Criminal litigation
Dispute resolution and arbitration
Labour and employment
Environment
Government risk and compliance
Infrastructure and energy
Intellectual property rights
Joint ventures/M&A
Private equity
Aerospace and defence
Entertainment, media and broadcasting
Healthcare, food and drugs
IT, e-commerce and outsourcing
Real estate
Retail and wholesale trade (B2C and B2B)
Telecommunications
Manufacturing industries
Number of partners : 10
Number of associates : 75
English
Hindi and other regional languages

CLIENT: Kamal Samtani
COMPANY/FIRM: Simbhaoli Sugars Limited
TESTIMONIAL: We are delighted to thank Dhir & Dhir Associates, Advocates and Solicitors and appreciate the efforts of Ms. Jayashree Shukla Dasgupta along with the team of experts who have thorough and comprehensive knowledge to handle and provide need-based solutions in the corporate legal matters. The team has a well-integrated structure, which enables it to provide organised professional services and tend to be highly responsive in clarifying all queries on time. Wish them good luck and all the and there was being taken up and great success in future assignments.


CLIENT: Jayesh Damle
COMPANY/FIRM: BramhaCorp
TESTIMONIAL: Dhir & Dhir Associates has a well-integrated structure which enables it to provide organized, top notch Professional Services, and tend to be highly responsive in clarifying all queries on time which is really helpful. The GO-TO firm when you don’t want to take any chances with your Court matters.


CLIENT: Ajeet Shukla, V.P (Legal)
COMPANY/FIRM: Monnet Ispat & Energy Limited
TESTIMONIAL: We have been associated with Dhir and Dhir Associates for some time now. They continue to surpass our expectations with their proficiency, knowledge and professionalism. Regardless of the matter’s complexities, the firm diligently balances legal strategies with business practicalities. The innovative litigation strategies help us to achieve our business and commercial objectives.


CLIENT: Sanjeev Garg
COMPANY/FIRM: J K Cement Ltd
TESTIMONIAL: We can say without hesitation that your firm and its associates have exceeded our expectations, both in time and services. The service and experience has been very exceptional. Once again our heartfelt thanks and appreciation.


CLIENT: A M Saleem
COMPANY/FIRM: BPL Limited
TESTIMONIAL: We, BPL Limited & associate companies have been associated with M/s. Dhir & Dhir Associates, Advocates & Solicitors, on various legal matters for over a decade. We can undoubtedly state that we have always experienced a high level of professionalism and commitment from their end. Their team’s efficient and effective internal and external coordination have tremendously benefited us in getting good results. We are indeed proud to be associated with Dhir & Dhir Associates and look forward to a long and rewarding relationship with the firm.


CLIENT: Manoj
COMPANY/FIRM: SYNERGIES Castings Limited
TESTIMONIAL: The team at Dhir & Dhir has done an extraordinary work on our case and we are very appreciative of that


The firm supports social causes and works selflessly towards social reforms and conducts probono matters. Maneesha Dhir, Managing Partner, is an Advisory Council member of Karuna Care Foundation, which is an organization, which aims to build and implement social welfare, healthcare and education projects. She also devotes significant time on pro bono matters and address legal needs of individuals who cannot afford representation.

The firm represented the Greater Faridabad Residents Association (GREFA) in a matter related to dysfunctional sewage treatment plants (STPs) and gathered a landmark judgement in the favour of the residents association. Thirteen builders of the Greater Faridabad area were penalised by the NGT for not following the prescribed sewage disposal norms. They were directed to deposit Rs 25 lakhs as security until they have setup the requisite STPs within a 4 week stipulated time period. The tribunal imposed a penalty of Rs 5 lakh each on 12 builders for violation of norms for running below capacity or partially operational STPs. It also directed the management of a residential society in Sector 78 to deposit Rs 25 lakh as it did not have an STP.

The team offered legal advisory facilitating prohibition of illegal construction and encroachments in the Aravali range of Delhi NCR through Dispute Resolution mechanism and harness preservation of environment. The firm also assisted in admissions of underprivileged children to Government schools under Right to Education Act (RTE).


Dhir & Dhir Associates successfully represents Indian Renewable Energy Development Agency Limited (IREDA) in an IBC Matter

Dhir & Dhir Associates successfully safeguarded the contingent right of Indian Renewable Energy Development Agency Limited in the resolution process of VBC Industries Limited (under IBC), wherein IREDA had granted term loan to M/s Orissa Power Consortium limited (OPCL) which is a subsidiary of VBC industries. The said loan was secured by way of mortgage over the property of VBC along with the pledge of shares to the extent of 40.57%, as held by VBC in OPCL. During the resolution process of VBC, the Resolution Plan as approved by CoC proposed cessation of mortgage and extinction of the pledge of shares.

The claim of IREDA as financial creditor of VBC was rejected initially by the NCLT. However, in an appeal as preferred before NCLAT the contingent right of IREDA was recognized and the same was directed to be brought to the notice of Resolution Applicant.

After representing IREDA before NCLAT an application was filed by Dhir & Dhir Associates before the National Company Law Tribunal, Hyderabad Bench (NCLT) showcasing the contingent right of IREDA, the said Application was heard on urgent basis via video conferencing and it clarified that IREDA would qualify to be a ‘secured creditor’ and that the Resolution Plan submitted by the Resolution Applicant cannot take away the mortgage right of IREDA without following the process as recognized in law and directed Resolution Applicant to modify the Resolution Plan within two weeks validating that the mortgage as well as pledge of shares will continue till IREDA is paid in full by OPCL.

Dhir & Dhir Associates acts as Legal Counsel for Restructuring of Outstanding Loans Availed by Essar Power Transmission Company Ltd.

Dhir & Dhir acted as Lenders’ Legal Counsel to consortium of lenders comprised of REC Limited, Power Finance Corporation Limited and Axis Bank Limited (led by REC Limited) with respect to restructuring of outstanding loans availed by Essar Power Transmission Company Limited from the foregoing lenders, in terms of Reserve Bank of India’s “Prudential Framework for Resolution of Stressed Assets” dated June 07, 2019.

The transaction included advising on aspects pertaining to reclassification of debt, issuance of secured debentures, advisory on compliance requirements pertaining to issuance of debentures, advisory on stamp duty aspects, drafting of restructuring documents including but not limited to Master Debt Restructuring Agreement, Debenture Trust Deed, Security Document, Inter-Creditor Agreement and other financing documents. Further, the firm advised the Lenders/Borrower with respect to stamp duty implications and registration aspects pertaining to the transaction instruments.

Dhir & Dhir Associates offers Legal Services to IndusInd Bank

Dhir & Dhir Associates has acted as legal advisors to IndusInd Bank Limited in the matter of financial assistance of up to INR 2076.00 Million (including non-fund-based facility limits) sanctioned to TP Luminaire Private Limited, a wholly owned subsidiary of the Tata Projects Limited, for the purpose of part financing the project cost of replacement of the existing street lights with the energy efficient LED street lights in: (i) NOIDA in the state of Uttar Pradesh; (ii) Ludhiana in the State of Punjab; and (iii) Nashik in the State of Maharashtra; installation of control systems along with the operation and maintenance of the same (collectively as “Projects”).

The firm conducted limited corporate due diligence of the borrower company, review of the various project documents in relation to the projects, drafting of the resolutions and certificates as per pre-commitment conditions of the sanction letter of the lender, drafting of the financing and security documents and issuing opinion on the legal issues.

Guarantor to Corporate Debtor Enters Insolvency Proceedings for Consolidated Resolution

Dhir & Dhir Associates was recently successful in getting insolvency proceedings against the Corporate Guarantor of Aditya Vidyut Appliances Ltd. admitted before the NCLT, Mumbai. SBI had filed Applications u/s 7 of IBC against Aditya Vidyut Appliances Ltd. (AVA), the Borrower, and Aditya Fabrication Pvt. Ltd. (AFP), the Guarantor. The petition filed against AVA was admitted on 11.09.2019, wherein in the resolution process of AVA, Resolution Plans were invited, and two plans were received. As the land on which the factory of AVA existed belonged to AFP, the Resolution Applicants proposal was premised on transferring the entire land of the factory. The Bench took up the matter through videoconferencing on 08.05.2020 wherein Ashish Pyasi, Associate Partner appeared on behalf of SBI and was able to convince the Bench that to have a proper resolution in which maximization of value for all stakeholders happens, the Section 7 Petition against AFP is required to be admitted.

Dhir & Dhir Associates Advises Rajasthan Antibiotics and its Group Companies for its Scheme of Amalgamation

Rajasthan Antibiotics gets closer to its consolidation plan of merging its group companies for obtaining a greater asset base and consolidation of its pharmaceutical business. Dhir & Dhir Associates successfully represented the Company in its first motion petition wherein the Special Bench, NCLT, while hearing the matter through video conferencing, allowed the first motion application and granted an exemption to the Company from convening meetings as shareholders and creditors.

Advisory to Resolution Professional of Apex Drugs Limited in the matter of failure by Resolution Applicant to abide by the terms of the approved Resolution Plan.

Dhir & Dhir Associates recently represented the Resolution Professional in the matter of Apex Drugs Ltd. through video conferencing before NCLT, Hyderabad seeking directions against the Resolution Applicant i.e., Orbit Electro Equipment Pvt. Ltd. The matter pertained to non-adherence to the terms of the approved resolution plan by the Resolution Applicant. The Resolution Applicant requested additional time to make payment. The NCLT, Hyderabad taking note of the hardships faced by RP in maintaining the plant and machinery and delay by Resolution Applicant, directed the Resolution Applicant to pay all the costs of the period of delay within a week and posted the matter for further hearings.

Dhir & Dhir Associates Advises Hotel Leelaventures Ltd

Hotel Leelaventures Ltd is a chain of high-end hotels hailed as one of India’s finest luxury hotel groups. JM Finance had preferred Insolvency Proceedings against Hotel Leelaventures before NCLT, Mumbai. Dhir & Dhir Associates were successful in representing Hotel Leelaventures before NCLT, Mumbai and ensured that prior to admission of Insolvency Proceedings, the Company restructures its liability with JM Finance resulting in ultimate withdrawal of the proceedings under the Insolvency Code by JM Finance.

Hotel Leelaventures for the purposes of restructuring its debts had proposed sale of part of its assets, which was also objected by one of its minority shareholders before NCLT, Mumbai. The said petition of the Company was appropriately dealt with by the firm to ensure that sale of assets as a part of restructuring scheme is not interjected on account of the litigation initiated by the minority shareholders. Although the final order in the said proceedings of the minority shareholding is pending, however, in the interregnum, Hotel Leelaventures has given effect to its restructuring scheme which was being strategized and handled by our firm.

Dhir & Dhir Associates Advises India Infradebt Ltd.

Dhir & Dhir Associates has acted as the Lenders’ Legal Counsel to India Infradebt Limited, for the financial assistance of up to INR 6150.00 Million as rupee term loan to the 3 (three) SPVs of the Atria group, for the purposes of repayment of the exiting project indebtedness of the respective SPVs and investment in wind/ solar power projects being setup in the Atria group. The transaction involved a co-obligor structure wherein each SPV has undertaken to provide support to each other in case of any shortfall in the debt servicing of the lender(s) of any SPV.

The scope of work included conducting due diligence of the borrower companies, its promoters and respective project documents, drafting of the financing and security documents, reviewing title search report of the local counsel(s) and issuing opinion on the legal issues.

Dhir & Dhir Associates acts as Legal Counsel to Fortum Solar

Dhir & Dhir Associates has acted as the Borrower’s Legal Counsel, to Fortum Solar India Private Limited, for the term loan facility aggregating up to INR 8780.00 Mill and working capital facility aggregating up to INR 420.00 Mill sanctioned by SBI for the purpose of repayment of the existing lenders of the borrower and for working capital requirements of the borrower (respectively) in relation to 250 MW AC solar power plants of 50 MW AC each at Pavagada, District Tumkur, in the State of Karnataka in the Pavagada Ultra Mega Solar Park constructed and implemented by Karnataka Solar Power Development Corporation Limited. One of the key factors of the transaction is the long-term low-cost financing benefits under the dedicated EUR 600 million renewable energy financing program of the European Investment Bank (EIB), as a result of a collaboration of EIB with State Bank of India. The team included Girish Rawat, Partner, Varun Chauhan, Senior Associate and Ashneet Chhabra, Associate.

Dhir & Dhir Advises IREDA on Waste to Energy Power

The Firm has advised IREDA for the financial assistance of upto INR 125.81 Crores sanctioned to Goodwatts WTE Rajkot Private Limited for the process of setting up and implementing of 14.90 MW waste to energy power project based on municipal solid waste at dumpsite at Nakrawadi Village, Rajkot District, Gujarat on design, build, own, finance and operate basis. 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 team was led by Girish Rawat, Partner along with Amit Prakash, Principal Associate, Ujjwal Kumar, Senior Associate and Vaibhav Shrivastav, Associate.

Dhir & Dhir Associates acts as Legal Advisors to Saraswat Co-operative Bank Ltd

Dhir & Dhir Associates acted as legal advisors to Saraswat Cooperative Bank Limited for the limited due diligence and documentation pertaining to the financial assistance of up to INR 150 Mn sanctioned to Renew Saur Vidyut Private Ltd. (a wholly-owned subsidiary of Renew Solar Energy Private Ltd.) for part repayment of the unsecured loans availed by Renew Saur Vidyut Private Ltd. from its promoters for the operation and maintenance of the 5 MW rooftop solar power project in the premises of Toyota Kirloskar Motor Private Ltd. at Bidadi Industrial Area, Ramnagara District in the state of Karnataka.

The scope of work included conducting limited review of the power purchase agreement executed by the borrower company with Toyota Kirloskar Motor Private Limited, drafting of the financing and security documents, drafting of the resolutions and certificates as per pre commitment conditions of the sanction letter of the lender, drafting of ancillary certificates, letters and undertakings and issuing opinion on the legal issues.

Dhir & Dhir Associates offers Legal Services to Tata Cleantech Capital Ltd.

Dhir & Dhir Associates acted as legal advisors to Tata Cleantech Capital Limited for the due diligence and documentation pertaining to the proposed financial assistance of up to INR 127.00 Million sanctioned to Clean Max Enviro Energy Solutions Private Limited for the purpose of designing, building, financing, constructing, operating and maintaining various rooftop solar power projects in the states of Rajasthan, Uttar Pradesh, and Tamil Nadu.

The team included Girish Rawat, Partner, Varun Chauhan, Senior Associate, and Ashneet Chhabra, Associate. The scope of work included conducting due diligence of the borrower company and the various rooftop solar power projects in the states of Rajasthan, Uttar Pradesh and Tamil Nadu, drafting of the resolutions and certificates as per pre-commitment conditions of the sanction letter of the lender, drafting of the financing and security documents and issuing opinion on the legal issues.

Dhir & Dhir Associates Acts on behalf of PFCL, HUDCO, and IFCL

The Firm has advised, strategized and instituted proceedings for recovery of a sum of over Rs.1900 Crore on behalf of Lenders (Power Finance Corporation, Housing, and Urban Development Corporation Limited and India Infrastructure Finance Company Limited). The proceedings for recovery of the amount have been initiated under the provisions of the RDDB&FI Act, 1993 and the same are pending adjudication before Debts Recovery Tribunal-II, Delhi. The Firm has been instrumental in obtaining certain interim reliefs for the Lenders as the amount for recovery involved in the matter is very high. The Firm has obtained reliefs such as (i) restrain on Defendants from alienating any of their movable and immovable assets, (ii) restrain on transfer by way of sale, lease or otherwise any of their assets, (iii) any sale proceeds to be deposited with Lender holding interest on the said asset. Defendants have been further directed to file a detailed affidavit of assets. The scope of work included advising, strategizing and drafting of the Original Application, coordinating with Lenders and appearing before the Debts Recovery Tribunal and protecting the interest of the Lenders involved.

Dhir & Dhir Associates offers Legal Services to HDFC Bank Ltd.

Dhir & Dhir Associates has acted as legal advisors to HDFC Bank Limited for the due diligence and documentation pertaining to the proposed financial assistance of up to INR 730 Million sanctioned to Kakatiya Institute of Oncology Private Limited, Sathavahana Institute of Oncology Private Limited and Oncochain Healthcare Services Private Limited (a wholly-owned subsidiary of Haragovind Enterprises Private Limited) for the purpose of designing, building, financing, constructing, operating and maintaining various oncology centers being set up in the State of Uttar Pradesh and Telangana.

The scope of work included conducting due diligence of the borrower companies, drafting of the resolutions and certificates as per pre-commitment conditions of the sanction letter of the lender, drafting of the financing and security documents and issuing an opinion on the legal issues.

Dhir & Dhir Associates Acts as Legal Advisors to L&T Infra Debt Fund Ltd

Dhir & Dhir Associates has acted as legal advisors to L&T Infra Debt Fund Limited and other consortium lenders for conducting the due diligence pertaining to financial assistance (including the working capital facility) of up to INR 1,330 Million sanctioned to Sadipali Solar Private Limited for the purpose of operating and maintaining 20 MW Solar PV Power project based on the photovoltaic technology in the state of Odisha.

The team included Girish Rawat, Partner, Varun Chauhan, Senior Associate, and Ashneet Chhabra, Associate. The scope of work included conducting due diligence of the borrower company and the project, drafting of the resolutions and certificates as per pre-commitment conditions of the sanction letter of the lenders and issuing an opinion on the legal issues.

Dhir & Dhir Associates Acts as Lenders’ Legal Counsels to Power Finance Corporation Ltd and Indian Renewable Energy Development Agency Ltd
Dhir & Dhir Associates has acted as lenders’ legal advisor to Power Finance Corporation Limited and Indian Renewable Energy Development Agency Limited for the due diligence and documentation pertaining to financial assistance in form of rupee term loan of up to INR 1635.5 Million sanctioned to Goodwatts WTE Ahmedabad Private Limited (a wholly-owned subsidiary of Abellon Cleanenergy Limited) for the purpose of designing, building, constructing, operating and maintaining 14.9 MW waste to energy power project based on municipal solid waste at Shahwadi Village, Ahmedabad District in the state of Gujarat.

The scope of work included reviewing concession agreement and other project-related documents, conducting due diligence of the borrower company, drafting of the resolutions and certificates as per precommitment conditions of the sanction letters, drafting of the financing and security documents and issuing opinion on the legal issues.

Dhir & Dhir Associates Acts as Legal Advisors to IndusInd Bank

Dhir & Dhir Associates has acted as legal advisor to IndusInd Bank Limited 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 Private Limited (a wholly-owned subsidiary of Shapoorji Pallonji And Company Private Limited) 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.

Dhir & Dhir Associates offers Legal Advisory to PTC India Financial Services Ltd.

The Firm has advised PTC India Financial Services Limited for the financial assistance of upto INR 300.00 Crores sanctioned to Azure Power India Private Limited (“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.

Dhir & Dhir Associates Act as Legal Advisors to Tata Cleantech Capital Ltd.

The Firm has advised Tata Cleantech Capital Limited for the financial assistance of upto INR 5.00 Crores sanctioned to Fujin Wind Parks Private Limited, 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.

Dhir & Dhir Associates Acts as Legal Advisors to PTC India Financial Services

Dhir & Dhir Associates acted as the legal advisor to PTC India Financial Services Limited for the due diligence and documentation pertaining to subscription of INR 2000.00 Million non-convertible redeemable debentures issued by Ostro Energy Private Limited, 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.

Dhir & Dhir Associates Advises as Lenders’ Legal Counsel, to L&T Infrastructure Finance

The firm has advised L&T Infrastructure Finance Company Limited, for the financial assistance of aggregating up to INR 560.00 Million sanctioned by L&T Infrastructure Finance Company Limited in the form of working capital rupee facility to ACME Jaipur Solar Power Private Limited (a subsidiary of ACME Solar Holdings Limited), 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.

Dhir & Dhir Associates successfully represents ONGC before the High Court of Delhi

Dhir & Dhir Associates represented Oil and Natural Gas Corporation Limited (ONGC) before the Hon’ble High Court of Delhi, against a competence assessment company (“Petitioner”) which develops and delivers standardized and customized tests across the country.

The Petitioner has inter-alia challenged the termination of the contract and the initiation of enquiry by ONGC. The Petitioner has claimed that the letter of termination does not specify any cause of dissatisfaction and does not afford any opportunity to rectify the same. The Petitioner alleged that during the enquiry it would be on an automatic “holiday” as neither, any tender enquiry would be issued nor its offer would be considered for any ongoing tender.

The Firm argued that the Writ Petition was not maintainable as the disputes by the Petitioner arise out of alleged breach of contract. The Delhi High Court held that the claims of the Petitioner are unmerited and the controversy over the termination of the contract is squarely covered within the Arbitration Clause. The Court held that decision of any authority not to enter into a contract with a party cannot be faulted with if the decision is founded on cogent reasons and does not fall foul of Article 14 of the Constitution of India.

Dhir & Dhir Associates Advises Saraswat Co-Operative Bank Ltd.

Dhir & Dhir Associates as the legal advisor to Saraswat Co-Operative Bank Limited for the documentation pertaining to financial assistance of upto INR 400 Million sanctioned to of Clean Solar Power (Bhadla) Private Limited 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.

On Dhir & Dhir Associates Advises PTC India Financial Services Ltd.

Dhir & Dhir Associates as the legal advisor to PTC India Financial Services Limited for the due diligence exercise of DBL Bellary Byrapura Highways Private Limited and Dilip Buildcon Limited 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 Private Limited and financial assistance of upto Rs. 657.0 Million for issuance of performance guarantee to Dilip Buildcon Limited 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.

Dhir & Dhir Associates Advises Power Finance Corporation (PFC)

The Firm has acted as the legal advisor to PFC for the financial assistance of INR 1350 Mn to Timarpur-Okhla Waste Management Company Limited, 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.

Dhir & Dhir Associates Advises Ola Fleet Pvt Ltd

The firm advised Ola Fleet Pvt Ltd in planning, structuring, procuring licenses and ensuring compliance with the applicable laws for the provision of backend support (to its lessees/customers) for its operations in India. It is a subsidiary of ANI Technologies Private Limited and provides vehicles on operational lease.

Dhir & Dhir Associates Act as Lender’s Legal Counsel to L&T Infrastructure Finance

The firm has advised as the Lenders’ Legal Counsel, to the consortium of lenders led by L&T Infrastructure Finance Company Limited (‘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 Limited, 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.

Dhir & Dhir Associates Advises Tata Cleantech Capital

The Firm has advised as the Legal Counsel to Tata Cleantech Capital Limited for the financial assistance of INR 28.88 Crores sanctioned to AMPSolar Ventures Private Limited and AMPSolar Generation Private Limited, 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 Limited at District Kochi, Kerala and depot of L&T Metro Rail (Hyderabad) Private Limited 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.

Dhir & Dhir Associates acts as Legal Advisors to IDFC Score Fund

Dhir & Dhir Associates acted as the legal advisor to IDFC Score Fund (Structured Credit Opportunities in Real Estate) for the due diligence of 2 companies (SCC Builders Private Limited and Shrine Buildtech Private Limited) and documentation pertaining to subscription of INR 900.00 Million nonconvertible redeemable debentures issued by the aforesaid 2 (two) companies.

The scope of work included conducting due diligence of the respective entities, project documents, drafting of the financing and security documents, conducting title verification exercise of immovable property situated in the state of Uttar Pradesh and issuing an opinion on the legal issues.

Dhir & Dhir Associates offers Legal Advisory Services to IndusInd Bank

Dhir & Dhir Associates as the legal advisor to IndusInd Bank Limited for the due diligence exercise of Clean Solar Power (Bhadla) Private Limited and the documentation pertaining to financial assistance of upto INR 13300 Million sanctioned by it to Clean Solar Power (Bhadla) Private Limited 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.

Dhir & Dhir Associates Act as Legal Advisors to Amtek Auto Limited

The firm has been advising the erstwhile management on aspects of the IBC proceedings as well as any query or issues raised by the Resolution Professional, Committee of Creditors etc.

Corporation Bank had referred Amtek Auto to National Company Law Tribunal under the Insolvency & Bankruptcy Code 2016. After the admission of the Petition, the firm has been advising the erstwhile promoters on all aspects under the Code. After approval of the Resolution Plan, the firm is representing the ex-management before National Company Law Tribunal and other High Courts against the Applications filed by the Resolution Professional and Banks for preferential and undervalue transactions and also in the matters of declaring the erstwhile management as wilful defaulter.

The firm is also handling matters of recovery on behalf of Mr. Arvind Dham, Chairman & Managing Director, Amtek Auto Limited. Original Applications have been filed on behalf of various banks including Bank of Maharashtra as well as Punjab National Bank. In the various Original Applications before the Debt Recovery Tribunal, Mr. Dham has been impleaded in his capacity as a Personal Guarantor to the various credit facilities availed by Amtek Group companies including Amtek Auto Ltd (under CIRP) and Metalyst Forgings Ltd (under CIRP). We are also representing Alliance Integrated Ltd, which has been impleaded in the Original Applications as a Corporate Guarantor. The amount that Bank of Maharashtra is claiming from Mr. Dham and Alliance Integrated Ltd is approximately ` 450 Crore.

The firm is contesting the Original Applications on the ground that there was a failure on part of consortium banks including Bank of Maharashtra in the release of funds that lead to a debacle of the financial condition of the Borrower Companies.

Dhir & Dhir Associates act as Lenders’ Legal Counsel to L&T Infra Debt Fund Limited

The Firm offered legal advice as the Lenders’ Legal Counsel to the consortium of lenders led by L&T Infra Debt Fund Limited 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 Private Limited, 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, Uttrakhand and Karnataka and for meeting other expenses related to transaction/financing.

Further, the Firm has also assisted L&T Infrastructure Finance Company Limited as their legal counsel for the financial assistance of INR 12.71 Crores sanctioned to the group companies of Rays Power Infra Private Limited 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.

Dhir & Dhir Associates offers Legal Services to INR Energy Ventures

The firm advised INR Energy Ventures with regard to acquisition of the entire shareholding in Belgaum Solar Power Private Limited. The said company is engaged in the implementation of the 30 MW solar power project allotted at Madagundai, Shegunashi and Mamadapur Villages, Taluk Babaleshwar, Vijayapura District, Karnataka. The Firm further advised INR Energy Ventures and Belgaum Solar Power Private Limited on the aggregation of the land admeasuring 120 acres (approx.) for setting up of said Solar Power Projects.

The scope of work included drafting of Securities Purchase Agreement, drafting ancillary documents, conducting due diligence on the target companies, its project documents, consents, licences of the project, assisting the client in completing the closing actions for effective transfer of securities from shareholders of the target companies to the Client or its group entities and conducting the title verification of the land parcels and advising client on the various legal issues concerning acquisition of the said land.