JSA Advocates & Solicitors advised SWAMIH Investment Fund – I (“SWAMIH”), a category II alternative investment fund, managed by SBI Ventures Limited on their subscription to unlisted, unrated, senior, secured, redeemable, non-convertible debentures (“NCDs”) aggregating up to INR 179 Crores (USD 20 million), issued by Sheth Creators & Sun-vision Private Limited, a prominent real estate developer.
JSA acted as the transaction counsel for the financing leg and advised and assisted with respect to the drafting, negotiation, and execution of the financing documents, ensuring legal and regulatory compliance.
SWAMIH is a one of its kind fund, sponsored by the Ministry of Finance, Government of India. It provides last mile funding to complete construction of stalled, brownfield, RERA registered residential developments.
JSA team was led by Anish Mashruwala, Partner; with support from Srinjoy Bhattacherjee, Partner;Swarna Hardikar, Senior Associate; and Madhur Bhatt, Associate.
Anish is the current Co-Chair of the Finance Practice at JSA and heads the Banking & Finance group. He also focuses on Cross Border Investments & Acquisitions.