Cyril Amarchand Mangaldas (“CAM”) acted as the lenders’ legal counsel in connection with financing facilities aggregating up to INR 550 Crores extended to the corporate debtor i.e., Rolta India Limited (Borrower), a company undergoing corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016.
A resolution plan was submitted by Ashdan Properties Private Limited and was approved by the committee of creditors of the Borrower, and subsequently by the National Company Law Tribunal, Mumbai Bench-I vide its order dated December 15, 2025.
The financing enabled the implementation of the approved resolution plan by facilitating part payment and discharging the Borrower’s creditors, in accordance with the terms of the resolution plan.
Notably, the financing was directly availed by the Borrower while undergoing CIRP. Pursuant to implementation of the resolution plan on 16th January 2026 and completion of acquisition of 100% shareholding and management control, the Borrower is now owned by an entity jointly backed by a Welspun Group entity and Ashdan Properties Private Limited.
The transaction was led by Pururaj Bhar, Partner; with support from Sohrab Kharadi, Principal Associate; Ayush Chowdhury, Senior Associate; and Kriti Jain, Associate.