DEAL DETAILS
Standard Chartered Bank | Resolution Plan and Acquisition Financing
Khaitan & Co advised Standard Chartered Bank for providing financial assistance by way of term loan facilities of INR 150 crores to the Borrower, an SPV formed by Welspun Group for part financing the implementation of its resolution plan for Sintex BAPL limited (debt-laden manufacturer of plastic components for the automotive industry) which was under the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 (Code). The facility has been utilised to part finance certain steps of the resolution plan implementation.
This one of its kind financing of a resolution plan, led by partners, Rajeev Vidhani (Partner) and Rolwine Alva (Partner), was structured to give effect to the approved resolution plan submitted by the Borrower and its group company, Plastauto Private Limited under the Code. The other members who worked on the deal include Jessica Gandhi (Principal Associate), Savni Tewari (Principal Associate), Nikita Nagori (Senior Associate), and Saumya Agarwal (Associate).
