Shardul Amarchand Mangaldas advises erstwhile Committee of Creditors of SIFL and SEFL on the implementation of resolution plan of NARCL

January 3, 2024

Shardul Amarchand Mangaldas advised the erstwhile Committee of Creditors (CoC) of Srei Infrastructure Finance Limited (SIFL) and Srei Equipment Finance Limited (SEFL) and its lender members in the Implementation and Monitoring Committee, in relation to the implementation of the resolution plan of National Asset Reconstruction Company Limited (NARCL) under the Insolvency and Bankruptcy Code, 2016. The total value of the approved resolution plan was INR 14,867.50 crores and the date of signing the deal was 08 December 2023.

The transaction team was led by Mr. Anoop Rawat, Equity Partner; Mr. Saurav Panda, Partner; Ms. Arushi Asheesh Chandra, Senior Associate; Ms. Rashi Sharma, Associate; Mr. Ahkam Khan, Associate and Ms. Rachna Dubey, Associate, along with Mr. Rohan Jain, Partner; Mr. Kshitij Arora, Principal Associate and Ms. Shruti Jaju, Associate who advised on certain corporate related aspects.

Mr. Rajneesh Sharma is the RBI appointed erstwhile Administrator of SIFL and SEFL.

SBICAP Capital Markets were the Process advisors of CoC.

Ernst & Young and AZB & Partners were the Process Advisors & Legal Advisors to the Administrator, respectively.

Cyril Amarchand Mangaldas advised NARCL on the legal aspect.