Banking & Finance

Hitesh Jain

+91 22 4241 0005

hitesh.jain@parinamlaw.com

Mumbai, India

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Mallika Noorani

+91 22 42410111

mallika.noorani@parinamlaw.com

Mumbai, India

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Pooja U Tidke

+91 22 42410007

pooja.tidke@parinamlaw.com

Mumbai, India

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Manali Kshirsagar

+91 22 42410051

manali.kshirsagar@parinamlaw.com

Mumbai

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Krushi N Barfiwala

+91 22 42410017

krushi.barfiwala@parinamlaw.com

Mumbai, India

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Overview

The firm provides comprehensive legal support on a wide range of financing transactions including traditional lending and project finance. We also assist clients in procuring licenses, enforcement of contracts, and dispute resolution. We advise banks, financial institutions, NBFCs, and corporates on regulatory compliance, debt structuring, re-structuring and enforcement. The firm also advises and represents clients in commercial disputes, domestic and international, through its team of specialised arbitration and litigation experts.

Indicative Experience

Financing Deals and Advisory
  • Advised TVS Holdings in its acquisition of a majority stake in Indian subsidiary of a Czech consumer finance group – Home Credit Group.
  • Advised 360 One fund in its loan granted against securities pledged by the promoters of Clean Max.
  • Advised IREP Credit Capital on their lending and co-lending transactions by standarising their facility agreements and security documents from time to time.
  • Advising 360 One fund in structuring its loans against securities in various borrower entities and advising them on consents required under borrower entities’ shareholder agreements, investor NOCs, vetting of master finance agreements.
  • Advised a Kumar Properties group company in seeking investments from HCARE fund by issuing non-convertible debentures for a township project in Pune.
  • Advised GreenLine Mobility Solutions, a pioneer in clean fuel logistics solutions and a leading transporter of LNG for obtaining loan from Anjana group, an organisation involved in promotion of renewable energy for the purposes of their business including creation of pledge on securities.
  • Advised TVS Holdings, one of the largest auto components manufacturing and distribution group in India for obtaining registration to carry on the business as a core investment company (NBFC-CIC) under RBI Act, 1934.
  • Advised and successfully represented a successful auction purchaser before the Hon’ble Supreme Court of India in contempt proceedings against a borrower, and a third party in whose favour the borrower had created third-party rights in the property sold to the auction purchaser. The Hon’ble Supreme Court upheld the sanctity of the auction process as envisaged under the SARFAESI Act, and confirmed the sale of the secured asset.
  • Advised and successfully represented a land owner in challenging the wrongful creation of a security over his land by a developer in conjunction with one of India’s largest housing finance companies, before various fora including but not limited to RERA and the Bombay High Court.
  • Advised and successfully represented an entrepreneur in proceedings before the Bombay High Court pertaining to look-out circulars wrongfully issued by financial institutions against the client.
  • Advising and representing a large power and energy company before the National Company Law Tribunal by intervening in proceedings initiated by a financial institution against the company proposed to be acquired by the intervener.
  • Advised and represented minority debenture holders before the Hon’ble Bombay High Court in proceedings under Section 9 of the Arbitration and Conciliation Act, 1996 for securing outstanding amounts due and payable.
  • Advised and represented an NBFC debenture holder by initiating proceedings before the National Company Law Tribunal against the debenture issuer, under section 7 of the Insolvency and Bankruptcy Code, 2016.
  • Advised and represented an NBFC debenture holder by securing reliefs against the personal and corporate guarantors of the debenture issuer before the Hon’ble Bombay High Court.

Work Highlights

Parinam advised M/s Celir LLP in contempt proceedings before the Supreme Court of India which upheld the sanctity of the auction process under the SARFAESI Act and issued directions against third-parties.

Parinam successfully challenged the constitutional validity of the Office Memorandums issued by the Ministry of Home Affairs, by which the public sector banks were granted powers to issue Look Out Circulars to restrain an individual from traveling abroad.
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Articles, Updates & Publications

Proposed Changes to the External Commercial Borrowings Framework

Striking Down Of The Rbi Circular Dated 12.02.2018 Pertaining To Resolution Of Stressed Assets – Revised Framework
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News & Media

The burgeoning online gaming industry presents a unique challenge for policymakers”: Hitesh Jain, managing partner, Parinam Law, ET LegalWorld

Court discharges actor-businessman Sachin Joshi in money laundering case | Mumbai News – Times of India

Non-Fungible Tokens (NFTs), in recent times have gained tremendous amount of attention which has been parallel with the evolution of the field of cryptocurrencies.

Kapil Sibal is wrong — judiciary’s independence is not under threat | The Indian Express

Supreme Court grants bail to ex-Mumbai cop Pradeep Sharma in 2021 bomb scare, murder case | India News

Twitter’s rebranding as X will face trademark issues globally, ET LegalWorld
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