Projects & infrastructure
Projects FoxMandal Little has acted as lender's counsel on the Rs 2224 crores ($515mn) ONGC Tripura Power Company project finance documentation acting for Power Finance Corporation.
The firm was instructed in September 2009, with Delhi senior partner B N Banerjee, and senior associate Rajesh Sehgal and associate Milli Chatterjee leading the team.
According to a press release from the firm, no other law firms were involved in the transaction.
Sehgal said in the release: "It was challenging, since ONGC being a Navratna company is on the Board of the OTPC. For us it was the first time we had done a deal with ONGC and the captive natural gas based power stations interconnected with the power project."
Oil and Natural Gas Corp (ONGC) received Rs 2,224 crore in debt funding from Power Finance Corp (PFC) for its proposed 700 MW power plant at Tripura.
Projects
Luthra & Luthra has closed the Rs 2400 crores ($521m) GVK Power (Goindwalsahib) project finance fundraising acting for IDBI Bank and a consortium of 12 others as lender's counsel.
Luthra & Luthra's projects team was led by Mumbai partner Vijaya Rao (pictured), assisted by managing associate Bikash Jhawar, and associates Pulkit Sharma and Sneha Jha.
Projects
Luthra & Luthra has closed two project finance deals out of Delhi and Mumbai this week, acting on the Rs 1,497 crores ($325m) Gujarat road development project and the Rs 4,000 crore ($850m) syndicated term loan for Cairn India to develop oil fields.
Projects
Luthra & Luthra, India Law Services and Amarchand Mangaldas have leapfrogged to the top of global project finance deal rankings over the last six months, benefiting from Indian project finance deals rising by 158 per cent against the same period last year to almost $32bn (Rs 154,000 crore).
Projects
Luthra & Luthra advised a consortium of banks on their Rs 14,550 crore ($3.1bn) project financing of the Sasan Ultra Mega Power Project for Reliance Power.
Reliance handled the transaction entirely with its in-house legal team of seven, led by its head of legal Umesh Mooteri.
Luthra & Luthra Delhi project finance head Sameen Vyas and Mumbai banking head Vijaya Rao (pictured) co-led the team for State Bank of India and a consortium of 11 other lenders.