BANKING & FINANCE

Highlights of MV Kini’s experience includes:

Served as legal counsel to Branches of many Indian Banks in London, Dubai, Hong Kong & other foreign countries with regard to:

Drafting and Vetting of facility and security documents for Foreign Currency Term Loans/Working Capital including the Undertakings, Personal & Corporate Guarantees, creation of charge on assets to be provided by the Indian parent companies for their foreign wholly- owned subsidiaries involving provisions of FEMA and RBI guidelines on JV/WOS abroad.

Examining the legality and enforcement of various documents, reports and returns to be submitted to various regulatory authorities from Indian law perspective by the borrowers & lenders and ensuring compliance with requisite provisions of Law.

Drafting and vetting of Facility Agreement for Foreign Currency Term Loans/Working Capital by foreign lenders including for a 27-bank Consortium of Banks and many other Banks for credit facilities (ranging from US$130 million (Rs.700 crores) to US$1.6 billion (Rs. 8,654 crores) to companies in various sectors including Finance and Aviation.

Our law firm has several lawyers with prior banking experience who worked at senior positions in reputed banks and Reserve Bank of India.

We have been retained by foreign banks for opening their branch office in India. As retainers we have drafted all the policy and formats for these banks including Model Loan Documents, HR policies, etc.

• MV Kini has provided legal assistance to various other power companies in finalization of their financing and security documents.
• Drafting and vetting of facility agreement for foreign currency term loans/working capital by foreign lenders including for a 27-bank Consortium of banks and many other Banks for credit facilities (ranging from Rs.7000 million (US$97.22 million) to Rs. 80654 million (US$1201.94 million) to companies in various sectors including Finance and Aviation.
• Advised on project financing of more than 30 National Highways projects on Public Private Partnership (PPP) and Design, Build, Finance, Operate and Transfer (DBFOT) basis.
• Drafted and vetted term loan documents for various banks; consortium of banks; Financial Institutions for credit facilities to companies in varied infrastructure projects including highways and power sectors (ranging from Rs. 1630 million (US$22.64 million) to Rs. 44600 million (US$619.44 million).
• Vetting and drafting of facility documents including security documents like mortgage related documents, deed of hypothecation, charge on movable and immovable properties, assignment of intangible assets, project contracts, book debts, declarations, security trustee agreements, etc.
• Rendering legal opinion on enforce ability of the security documents from Indian law perspective including FEMA Regulations, RBI Guidelines and other applicable laws such as the Companies Act, Indian Stamp Act and Registration Act.

External Commercial Borrowings

External Commercial Borrowings (''ECB'') is one of the leading practice area of MV Kini. MV Kini has grown capability particularly during the last decade to support the Indian companies seeking access to foreign capital. As lenders' legal counsel of various Banks and Financial Institutions including Indian Banks having branches abroad, MV Kini co-ordinates actively both with lenders and borrowers to ensure compliance with legal requirements and protection of the lenders' interests and assists with documentation relating to the creation and perfection of securities and reporting requirements.

ECB is an instrument used in India to facilitate the access to foreign money by Indian companies and public sector undertakings (PSUs). The important aspect of ECB policy is to provide flexibility in borrowing by Indian companies, while maintaining prudent limits for total external borrowing. The guiding principles of the ECB Policy are to keep maturities long, costs low & encourage infrastructure and export sector financing which are crucial for the overall growth of the Indian economy. We assist in the documentation relating to creation and perfection of security documents pertaining to the creation of charge over immoveable and moveable assets, guarantees, promoters and borrower undertaking, assignments of insurance, goodwill and other tangible and intangible assets of the borrower) required from the borrower by the lenders for securing the ECB facility.

As a Lenders Legal Counsel, we participate in negotiation between the lenders and borrowers ensuring the compliance of the applicable laws and to protect the interest of the lender in the best possible manner.

We advise Indian banks from Indian law perspective on ECB availed by Borrowers wherein we have reviewed the Facility Agreement governed by English Law, drafting of security documents, including Memorandum of Entry, Deed of Hypothecation, Immovable Property, Declaration, Security Trustee Agreement, etc.

Key transactions

• Drafted / vetted term loan documents for various Banks/ Consortium of Banks/ Financial Institutions for credit facilities to companies in varied infrastructure projects including Highways and Power sectors (ranging from Rs.163 crores (US$30 million) to Rs. 4,460 crores (US$826 million).
• Vetting / drafting of Facility Documents including security documents like mortgage related documents, deed of hypothecation, charge on movable & immovable properties, assignment of intangible assets, project contracts, book debts, declarations, security trustee agreements.
• Rendering legal opinion on enforceability of the security documents from Indian law perspective including FEMA Regulations, RBI Guidelines and other applicable laws like Companies Act, Indian Stamp Act and Registration Act.

Key People G GopalKrishna , Mittal Shroff, Ravi Kini, U C Nayak