LE Desk

New Delhi, April 7, 2022: L&L Partners recently acted for and advised SWAMIH Fund in connection with the financial assistance to Ramprastha Promoters and Developers Private Limited by way of subscription to the non-convertible debentures issued by the Issuer in various Series, for part financing the cost of construction of group housing projects in Haryana, the Law Firm has said. 

SWAMIH has stepped in to provide finance to help these projects in their last mile of development, it said in a press statement.   

The transaction team consisted of Partner, Girish Rawat, Senior Associate, Sourav Padhi and Associate Ashneet Chhabra. The diligence on the Projects was conducted by Partner, Vaibhav Suri and Senior Associate, Manjul Mantri.

L&L Partners recently also acted for and advised Power Finance Corporation (PFC) Limited in connection with the proposed financial assistance aggregating up to Rs 3456.20 million to Karnataka Resco Rooftop Solar Private Limited for part financing the estimated cost of setting up and implementing a 10×10 MW (cumulative 100 MW /135 MWp) solar PV power project at 10 locations in Maharashtra, including power evacuation infrastructure till interconnection point at MSEDCL’s sub-stations, India. 

The Law Firm said the present transaction involved credit support structure wherein the parent/group companies of the Borrower (including promoter/pledgor) have agreed to provide credit support to the lender on certain instances as stipulated under sanction letter of PFC. 

The Firm has coordinated and negotiated with the legal counsels of the Borrower and parent/group companies outside India (United States and Mauritius) for finalization of the aforesaid structure. The present project forms part of Enfinity group’s growing presence in India in renewable energy sector. 

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

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