Shardul Amarchand Mangaldas & Co. advises HDFC Bank Limited, Punjab National Bank and South Indian Bank Limited on restructuring of Maverick Holdings and Investments Private Limited and Euroamer Garuda Resorts (India) Private Limited
August 16, 2021
Shardul Amarchand Mangaldas & Co. advised HDFC Bank Limited, Punjab National Bank and South Indian Bank Limited in relation to a resolution plan invoked under RBI Covid Resolution Framework, which, inter alia, involved restructuring of outstanding credit facilities and granting of additional funded interest term loan facilities to Maverick Holdings and Investments Private Limited and Euroamer Garuda Resorts (India) Private Limited (under a co-borrower structure). The deal is valued at USD 30 million approx. The date of closing was 28 June, 2021.
The transaction is one of the few restructuring transactions undertaken and successfully implemented in terms of the RBI Covid Resolution Framework and it involved detailed structuring of and advising on the resolution plan in accordance with the provisions of the RBI Covid Resolution Framework.
The Transaction team was led by Debashree Dutta, Partner; Arijit Sarkar, Principal Associate; Athul Laji, Senior Associate and Prabhanjan Nilakantan, Associate.
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