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Managing Distressed Assets In India
By handyland	August 3, 2019 No Comments
Jerome Merchant + Partners, presented sessions on Managing Distressed Assets in India for advisors, law firms and in-house counsels in Singapore on July 24 and July 25. Our partners, Vishnu Jerome and Murtaza Somjee discussed both developments and challenges in the insolvency regime and Dinesh Arora, partner PWC spoke on the insolvency resolution process and the management of resolution plans. Mohammed Reza and Justin Kwek of Simmons & Simmons presented the audience with a comparative analysis of insolvency laws in Singapore
MURTAZA SOMJEE
– Advised the sponsors of one of India's leading conglomerates Videocon group, in its insolvency proceedings and enforcement disputes with the Essel Group before the High Court of Bombay and the National Company Law Tribunal, Mumbai.
– Advised Deutsche Bank in its pre-litigation strategy for recovery of cross border debt exceeding USD 35 million of Uttam Galva group and represents the bank in its insolvency claims against Jet Airways.
– Advised and represented Kirloskar Electric Limited, a listed company and its promoters, in defending enforcement proceedings initiated by certain banks, concerning the restructuring of its debt.
VISHNU JEROME
– Advised Mahindra Lifespaces in relation to a INR 500 crore joint venture investment with the International Finance Corporation, to set up a platform joint venture for the development of affordable housing projects in India.
– Advised Citrus Pay in its stake sale to the Naspers group for USD 130 million, which was one of the largest promoter exits in the financial services space.
– Advised KKR Financial Services in relation to multiple financing transactions with the Lemon Tree group, Kwality Group, Classic Stripes, Resonance Eduventures.
KALPANA MERCHANT
– Advised the Trent Group on the acquisition of properties in various cities and states for their retail and warehousing projects.
– Advised VPS Group in acquisition of properties and its hospital projects in India.
– Advising Cabot India in the sale of factory land and buildings and advised on complex issues on licenses and approvals and land ceiling laws.
SAMEER SIBAL
– Advised Mahindra Lifespaces in relation to a USD 100 million joint venture investment with the International Finance Corporation, to set up a platform joint venture for the development of industrial parks in India.
– Advised State Bank of India Mutual Fund in its investment of INR 500 crores in bond issuances by the Adani group.
– Advised Aavishkaar in its investment in HR Foods, a leading dairy producer in East and Northern India.
SHAMEEK RAY
– Advised Tata Motors in relation to its USD 750 million issuance of offshore bonds.
– Advised L&T Finance, IL&FS, Kotak Bank in its financing of multiple road and infrastructure projects for an amount in excess of INR 2000 crores.
– Advised Anthea Aromatics in its INR 120 crores private equity capital raising from ICICI Ventures