Shardul Amarchand Mangaldas advises consortium of lenders led by Canara Bank on resolution of debt of Karanja Terminal & Logistics Private Limited

January 8, 2026

Shardul Amarchand Mangaldas & Co. (“SAM”) advised a consortium of lenders led by Canara Bank, and comprising Canara Bank, Punjab & Sind Bank and Bank of Baroda, in relation to the resolution of the debt of Karanja Terminal & Logistics Private Limited (“KTLPL”), through the transfer of the lenders’ entire loan exposure to Prudent ARC Limited under the Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021.

The transaction is notable for the successful structuring and execution of a multi-layered swiss challenge process for the assignment of a complex, infrastructure-backed debt portfolio, in strict compliance with the RBI guidelines. The mandate also involved intensive litigation before the Hon’ble Delhi High Court, where SAM successfully defended the lenders against challenges to the bid process, enabling timely closure of the transaction without any stay or disruption.

The SAM team was led by Anoop Rawat (National Practice Head – Restructuring and Insolvency, Partner), Arushi Chandra (Principal Associate), Snigdha Saraff (Associate) and Diksha Sharma (Associate).

The team appearing on behalf of the Lenders before the Hon’ble Delhi High Court was led by Anoop Rawat (National Practice Head – Restructuring and Insolvency, Partner), Arushi Chandra (Principal Associate), Charu Bansal (Principal Associate), Snigdha Saraff (Associate) and Diksha Sharma (Associate).