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India Law Services closes two projects deals

The firm had also represented various financial institutions in Yamuna Expressway, Delhi Metro and Educom related project deals during the last financial year.

ILS principal associate Vishakha Bhagvat and associate Danish Tata acted for Punjab National Bank, which led the consortium of lenders for Nagapattinam Energy Private Limited.

The deal involved Rs 728 crores as a project cost for setting up a 150 Mw coal based thermal power plant in Tamil Nadu.

In the other project Caddie Hotels raised money for the construction of a twin hotel complex called Pullman and a five star hotel Novotel.

Principal associate Nilesh Vagal and associate Aakash Phadnis advised the UCO Bank-led consortium of lenders for capital raising to the tune of Rs 842 crores.

Phoenix Legal Mumbai is understood to have acted for the borrower company Caddie Hotels.

ILS lost one of its partners and his team to ALMT Legal today (1 April).

ILS managing partner AG Karkhanis commented: "Mr. Ishtiaq Ali has been an asset. However, even after his departure there are extensive project finance deals available with the firm and the services of the firm continue to be in demand."

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