Banking and Finance law
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This is a giant sector that encompasses banks, financial institutions and all other possible financing transactions in every industry. Enactment of the RBI Act 1935 gave birth to scheduled banks in India, and some of these banks had already been established around 1981. Our expertise in Banking and Finance covers acquisition & leverage finance, structured finance, global loans, restructuring, external commercial borrowings, SARFEASI (Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest ) as per the Act of the same name enforced in 2002 which deals with any kind of secured loan where the banks have the right to seize or auction the secured assets in case the loan is not repaid and becomes a Non-Performing Asset and various regulatory issues pertaining to the area. These cases do not require a Court’s intervention. Hence, such a procedure of auction or seizure or any other related matter is dealt with in the Debt Recovery Tribunal (DRT) as mentioned in the Recovery of Debts Due to Banks and Financial Institutions Act, 1993.
We have been practicing in some of the largest and complex transactions, requiring exhaustive knowledge of the Indian finance market and its legal framework and our counsels are also involved in a large number of cross-border financing transactions, due to which we have developed a deep understanding of international regulations, industries and legal & finance techniques.
Our interaction with the Reserve Bank of India (India’s Central Bank and responsible for regulating various financial intermediaries including bank and NBFCs), the Indian Bank association and various other bodies in the Indian banking and financial sector has provided us with a varied knowledge and understanding of the regulatory issues and expectations enabling us to address client requirements within the contours of an evolving regulatory framework. This has enabled us to excel in an industry which is witnessing a steady increase in the number of transactions involving complex structures and innovation.
We don’t just advise you with regards to banking transactions, but build a long term relationship where we address your requirements in the future concerned with any present transaction.
Our Banking and Finance team having immense knowledge of key legislations that administer the banking sectors including Reserve Bank of India Act, 1934, Negotiable instruments Act, 1881, Bankers Books Evidence Act, 1891, Payment and Settlement Systems Act, 2007, Recovery of Debts due to Banks and Financial Institutions Act 1993, foreign Exchange Management Act (FEMA), and Prevention of Money Laundering Act, 2002 etc.
Our highly qualified and experienced lawyers explore a broad array of legal issues throughout the implementation process of a project, including the establishment of project companies, structuring of the finance, the creation of security, environmental protection, EPC contracts, insurance, land use rights issues, preferential tax policies, foreign exchange controls, relevant approvals, registrations, and other compliances including regular coordination with relevant government authorities, etc.
Our team is not only knowledgeable about the principles and application of project finance, they also have a deep understanding of the key roles of Private Sector, Partner/Owner, Project Sponsor, Lenders, Equity Investors, Suppliers, Contractors and Customers, Multilateral Credit Agencies, Purchasers, Insurers etc. We have been involved in structuring, negotiating and documenting the full array of project and financing agreements to suit each client’s requirements and expectations.
Our Project Finance Advisers have been previously involved in advising the Planning Commission (Government of India) as Legal Consultant on the preparation of model documents for various sectors, including airports, railway stations, transmission (electricity) and procurement-cum-maintenance of locomotives, which puts it in a unique position to leverage the expertise of its lawyers in regulatory frameworks evolved by the Government of India through model PPP documentation.
Our team has extensive experience in drafting and negotiation of project documentation, including concessionaire agreements, O&M contracts, shareholders agreements, state support agreements, engineering, procurement and construction contracts, and in relation to other matters, such as conducting due diligence and advising on regulatory compliances and approvals. In this area, we have served clients globally.