ZBA > Mumbai, India > Firm Profile
412 Raheja Chambers
213 Nariman Point
Mumbai 400 021
ZBA > The Legal 500 Rankings
India > Shipping Tier 1With strong experience in litigation and international commercial dispute resolution, Zarir Bharucha spearheads the shipping department at ZBA, headquartered in Mumbai. With an active practice in shipping, commodities and offshore energy and a renowned international arbitration practice, the team has a track record in international arbitration in the maritime trade, investment, insurance, construction and energy sectors. On the non-contentious front, the firm offers assistance on a range of contracts, corporate issues, risk management, ship financing and trade financing to its domestic and international clients. Key support is provided by associates Chandrasekhar Haridh, Rohaan Pajnigar and Bimal Rajasekhar.
Other key lawyers:
‘Zarir Bharucha is a talented shipping litigator.’
‘I think this is the best shipping firm in India.’
Apollo Export Warehouse Ltd.
Global Marine Systems Limited
Godrej and Boyce Mfg. Co. Ltd.
Banque Cantonale De Geneve
Motiva Trading LLC
- Represented Banque Cantonale De Geneve in obtaining an order for arrest of the vessel MT Polaris Galaxy as security for the mis-delivery of cargo.
- On behalf of a client, filed an admiralty suit against the vessel MV Karnika to recover amounts due.
- Represented IDBI in an admiralty suit for arrest and sale of the vessel DLB Nand Gaurav before the Bombay High Court.
India > Banking and finance Tier 2The team at ZBA has deep expertise in advising on transaction structuring for domestic and overseas banks. Niloufer Lam captains the practice and draws a broad client roster of multinational lenders and domestic financial institutions. The team often handles matters concerning infrastructure and project, trade and commodities, securitisation, and external commercial borrowing.
‘The Team is technically very sound. The unique thing about ZBA is their ability to resolve any query which might or might not be related to any transaction where ZBA is counsel.’
‘Niloufer is an extremely sound lawyer and a very good person. She would always respond to your queries and will minutely study all the relevant aspects.’
State Bank of India
Punjab National Bank
Bank of India
United Overseas Bank Limited
Indian Railway Finance Corporation Limited
Sumitomo Mitsui Banking Corporation
Oil and Natural Gas Corporation Limited
Hindustan Petroleum Corporation Limited
- Advised Indian Railway Finance Corporation Limited in USD 2 bn secured foreign currency borrowing from State Bank of India, Hong Kong Branch.
- Advised Indian Railway Finance Corporation Limited on a loan facility for USD 700m and USD 400m aggregating to USD 1.1bn from Sumitomo Mitsui Banking Corporation, Singapore, MUFG Bank, Ltd. and Mizuho Bank, Ltd
- Advised State Bank of India, London Branch, Bank of Baroda, IFSC Banking Unit and Sumitomo Mitsui Banking Corporation, Singapore Branch on a USD 750m term loan facility granted to NTPC Limited.
India > Capital markets Tier 2ZBA has an impressive track record in advising on debt capital markets issues, frequently assisting clients with foreign currency bond issuances, non-convertible debentures and medium-term note programmes. The team has a particular focus on transactions with cross-border aspects, often handling work in jurisdictions such as the UK, Singapore and the US. Niloufer Lam heads the practice from Mumbai; under her guidance the team frequently advises corporations operating across a number of sectors, including railways, energy, oil and gas, and financial services.
Other key lawyers:
Mihir Shukla; Anuttam Mahapatra; Mallika Jain
Hindustan Petroleum Corporation Limited
Indian Oil Corporation Limited
The Tata Power Company Limited
Power Finance Corporation Limited
Indian Railways Finance Corporation Limited
L&T Finance Holdings Limited
Oil and Natural Gas Corporation Limited
ONGC Videsh Vankorneft Pte. Ltd
ONGC Videsh Limited
Max Life Insurance Company Limited
Star Union Dai-ichi Life Insurance Company Limited
Niva Bupa Health Insurance Company Limited
Coastal Gujarat Power Limited
PNB MetLife India Insurance Company Limited
Bharat Oman Refineries Limited
Nippon Mutual Fund
Shriram Housing Finance Limited
Vivriti Capital Private Limited
- Advised Power Finance Corporation on a global medium-term note programme and issuance of green foreign currency bonds.
- Advised REC Limited in issuances of Rupee non-convertible debentures/bonds.
- Advised Indian Railways Finance Corporation under the global medium-term note programme.
ZBA > Firm Profile
ZBA is a client centric law firm providing international quality Indian legal services. We advise leading businesses which operate in India. We are known for advising on complex, strategic and reputation critical matters for our clients. This is where our quality of expertise, knowledge, tactics and depth of experience delivers the greatest impact and value.
Understanding your requirements, objectives and operating environment is important to us. We place particular emphasis on this aspect. We work with you to achieve extraordinary results, harness commercial potential and become trusted long-term partners. Smart strategies and honest advice set us apart from our peer group.
Domestic or international, established or forthcoming – we work with a diverse range of organisations. We identify and manage risk and liability, navigate legal challenges and enable your strategic growth in today’s complicated and volatile business environment.
|Banking & Finance, Capital Markets||Niloufer Lamemail@example.com||+91 99206 68000|
|Admiralty & Maritime, Dispute Resolution & Arbitration||Zarir Bharuchafirstname.lastname@example.org||+91 98210 91908|
Staff FiguresLawyers : 10
LanguagesEnglish (fluent) Hindi and other Indian languages
Pre-Packaged Insolvency Resolution Process Framework – A Leap Forward15th March 2021
Covid-19 related stress severely impacted all aspects of the Indian economy including the nascent insolvency regime under the Insolvency and Bankruptcy Code, 2016 (“Code”). The financial stability report (“FSR”) of December 2020 released by the Reserve Bank of India (“RBI”) predicts a sharp rise in the gross non-performing assets of banks by September 2021[i].
Changes for Listed Debt Securities easier participation into Debt Resolutions of Indian Corporates a10th November 2020 IntroductionThe SEBI (Issue and Listing of Debt Securities) Regulations, 2008 (“Debt Regulations”) provide the framework for issue and listing of debt securities in India (“NCDs”). SEBI as a proactive guardian of the capital markets has taken measures to assist market investors in debentures having a framework which integrates into any debt resolution process where an intercreditor agreement (“ICA”) needs to be executed by all creditors under the RBI schemes for debt restructuring. With the view to improve and strengthen the debt markets SEBI issued circular Standardisation of procedure to be followed by Debenture Trustee(s) in case of ‘Default’ by Issuers of listed debt securities” dated 13 October 2020 (“SoP Circular”) and also amended the Debt Regulations on 8 October 2020 (“Amendment Regulations”) to increase disclosure to investors and enhance security related aspects.
Indian Takeover Code – Extent of Disclosure on ‘Encumbrance’ in Structured Debt Transactions10th November 2020 IntroductionPursuant to the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 (‘SAST’), shares taken by way of encumbrance are treated as an acquisition. The scope of the term encumbrance was sharply brought into light by a recent adjudication order by Securities and Exchange Board of India (‘SEBI’) involving 2 promoter entities of Yes Bank Limited (‘YBL’) in March 2020. Whilst this case was decided in the context of an earlier version of SAST, the order has implications on drafting transaction documents and disclosing an encumbrance by promoter entities in financing transactions.
Ease of Foreign Portfolio Investor Flow of Capital into India through Mauritius10th November 2020
Recent changes in investment laws have been made by the Securities and Exchange Board of India (“SEBI”), which regulates capital markets, in order to incentivise foreign portfolio investors (“FPIs”) to increase their investments in India. SEBI has enabled the Government to determine additional countries, other than Financial Action Task Force (“FATF”) member countries, where FPIs can register under less onerous conditions. Recognising the importance of Mauritius as a key conduit of FPI investment into India, the Government has permitted eligible Mauritian FPIs to register under the more beneficial category of Category I FPI.
Stricter Foreign Direct Investment from Neighbouring Countries – Future Challenges9th November 2020 IntroductionThe Government of India has a comprehensive policy framework on foreign direct investment (“FDI”) in the circular on consolidated FDI policy issued by the Department of Industrial Policy and Promotion (“DIPP”), Ministry of Commerce & Industry, Government of India (“FDI Policy”) which permits offshore investment under the: (i) automatic route (i.e. without government approval) or (ii) government route (i.e. with prior approval) subject to sectoral conditions.
Arrest of Vessels for unpaid Bunker Supplies in the Gujarat High Court – A Change in the Law9th November 2020 IntroductionThe recent judgment of Dan Bunkering Pte. Ltd v. Best Excellence Corporation Ltd (Civil Application No.1 of 2019 in Admiralty Suit no.8 of 2019) 21 August 2020 has upturned admiralty law in Gujarat. Those familiar with vessel arrests in India may know that the Gujarat High Court had for over two decades permitted bunker suppliers to arrest ships for a charterers debt. There was a brisk trade in the Gujarat High Court of arresting vessels for unpaid bunkers admittedly ordered and supplied at the behest of the charterer. An enlarged view of the personification theory of a ship was adopted by the local court to justify arresting ships without any requirement of the in personam liability of the owner as a precondition to invocation of the court’s in rem jurisdiction. Ship arrest for the unpaid dues of a time/voyage charterer was easily obtained. The distinction between maritime liens and maritime claims were confused and conflated by the local courts.
Put Options and Enforcement of Foreign Awards in India5th November 2020 IntroductionIn another instance of the Indian judiciary’s pro-arbitration approach, the Bombay High Court in a recent judgement enforced a SIAC award arising out of a dispute relating to a shareholder agreement. The Court rejected public policy objections to enforcement relating to inadequacy of stamp duty and alleged violations of exchange control regulations.
India’s Embrace of Online Courts5th November 2020 Past attempts by the Indian judiciary to digitise cases have not met with much success. The lockdowns following Covid 19 have given a renewed and urgent impetus for virtual justice in India. Recent virtual hearings by the Bombay High Court during the lock- down period met with universal admiration with clamours that this process become the new norm for all disputes- not just urgent matters, as is presently the case.
FORCE MAJEURE AND FRUSTRATION OF CONTRACTS DURING COVID-1914th May 2020
The unprecedented upheaval caused by COVID-19 has affected normal performance of contractual duties. Logistical issues, health and safety risks and governmental decreed ‘lock-downs’ for extended periods of time have up-ended life and commercial activity on an unparalleled scale. A post-Covid world is beset by delays, payment defaults and a failure or refusal to perform contractual promises and stipulations.
India’s Embrace of Online Courts14th May 2020
Past attempts by the Indian judiciary to digitise cases have not met with much success. The lockdowns following Covid 19 have given a renewed and urgent impetus for virtual justice in India. Recent virtual hearings by the Bombay High Court during the lock- down period met with universal admiration with clamours that this process become the new norm for all disputes- not just urgent matters, as is presently the case.
The Next Wave – Personal Guarantors under the Insolvency and Bankruptcy Code, 20166th February 2020 By Niloufer Lam and Zarir Bharucha
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