L&L Partners acts for, advises SWAMIH Fund for financing of real estate project

LE Desk

New Delhi, December 23, 2021: L&L Partners recently acted for and advised SWAMIH Fund in connection with issuance of non-convertible secured debentures aggregating up to Rs 1.65 billion for part financing the cost of construction of a group housing project.

The Firm acted as the legal counsel and assisted the client in drafting, negotiation, finalization and execution of the NCD documentation and conducted due diligence on the Project, vetting of legal pre-commitment conditions and pre-disbursement conditions and issuance of a closing legal opinion on the NCD documentation, the Law Firm said in a press statement.

The transaction team consisted of Girish Rawat (Partner), Varun Chauhan (Senior Associate), Ashneet Chhabra (Associate) and Riya Manuja (Associate).

The issuer of the debentures is DSS Buildtech Private Limited, a subsidiary of Silverglades Holdings Private Limited. 

The Special Window for Affordable & Mid-Income Housing (SWAMIH) fund has approved Rs 1.65 billion for completion of the project named ‘The Melia’, a real estate project at Gurugram, Haryana. SWAMIH has stepped in to provide finance to help this project in its last mile of development. Almost 1200 homes will be completed with this funding that will take care of land dues and all pending construction costs.