Shardul Amarchand Mangaldas Represents Consortium Of Lenders Led By Canara Bank On Resolution Of Debt Of Karanja Terminal & Logistics Private Limited
SAM advised Canara Bank-led consortium on Karanja Terminal debt resolution via transfer to Prudent ARC Limited.
Shardul Amarchand Mangaldas represents consortium of lenders led by Canara Bank on resolution of debt of Karanja Terminal & Logistics Private Limited
The leading law firm in India, Shardul Amarchand Mangaldas & Co. (“SAM”) advised a consortium of lenders led by Canara Bank, comprising Canara Bank, Punjab & Sind Bank, and Bank of Baroda, on 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 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 representing the lenders on the transaction was led by Anoop Rawat (National Practice Head – Restructuring and Insolvency, Partner), with support from Arushi Chandra (Principal Associate), Snigdha Saraff (Associate), and Diksha Sharma (Associate).
The SAM team representing the lenders before the Hon’ble Delhi High Court was led by Anoop Rawat (National Practice Head – Restructuring and Insolvency, Partner) and Arushi Chandra (Principal Associate), with support from Charu Bansal (Principal Associate), Snigdha Saraff (Associate), and Diksha Sharma (Associate).
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