JSA advised consortium of lenders led by Bank of Baroda and comprising of Ambarnath Jai Hind Co Operative Bank Limited, Arvind Sahakari Bank Limited, Axis Bank, Bank of India, Bank of Maharashtra, Canara Bank, Cholamandalam MS General Insurance Company Limited, DBS Bank India Limited, Federal Bank, Gopinath Patil Parsik Janata Sahakari Bank Limited, HDFC Bank Limited, ICICI Bank Limited, IDFC First Bank Limited, J C Flowers Asset Reconstruction Private Limited, Jammu & Kashmir Bank Limited, Karnataka Bank Limited, Life Insurance Corporation of India, National Bank for Agriculture and Rural Development, New India Assurance, Prudent ARC Limited, Punjab & Sindh Bank, Punjab National Bank, Sree Subramanyeswara Coop Bank Limited, State Bank of India, South Indian Bank Limited, The Vishweshwar Sahakari Bank Limited, Tirupati Urban Co Op Bank Limited, UCO Bank, Union Bank of India and United India Insurance Company Limited (collectively referred to as the “Lenders”) in relation to resolution of debt availed by Reliance Home Finance Limited (“RHFL”), a subsidiary of Reliance Capital Limited (“RCap”), under the Reserve Bank of India (Prudential Framework for Resolution of Stressed Assets) Directions, 2019 dated June 7, 2019.
After running a fair and competitive process, the lenders approved the resolution plan submitted by Autumn Investment & Infrastructure Limited (“Authum”). The resolution plan entailed acquisition by Authum of the business undertakings of RHFL.
Our Banking and Finance Team Comprised Partner – Dina Wadia, Partner – Soumitra Majumdar, and Principal Associate – Abhay Agarwal.
Our Disputes Team Comprised Partner – Varghese Thomas, Partner – Divyam Agarwal, Partner – Fatema Kachwalla, Principal Associate – Yohaann Limathwalla, Principal Associate – Pallavi Kumar, Senior Associate – Angad Baxi, and Associate – Pranav Tanwar.
Divyam is a dual-qualified Indian Advocate and English Solicitor. Divyam is a specialist in international commercial arbitration and has a broad practice advising and representing corporates and financial institutions in disputes under commercial contracts.
Fatema’s core practice area is Dispute Resolution. She mainly practices in High Court(s), City Civil Court(s) various benches of the National Company Law Tribunal and the National Company Law Appellate Tribunal.
Soumitra specializes in Banking & Finance. He works closely with Indian and multinational banks, development financial institutions, commodity finance houses, non banking finance companies as well as corporates, for structuring, due diligence, documentation and negotiations.
Varghese specialises in handling matters related to the Insolvency & Bankruptcy Code and debt recovery proceedings. He routinely appears for Indian and foreign banks.