{"id":281507,"date":"2023-01-12T13:30:21","date_gmt":"2023-01-12T08:00:21","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=281507"},"modified":"2023-01-12T12:11:36","modified_gmt":"2023-01-12T06:41:36","slug":"khaitan-co-advises-a-consortium-of-16-lenders-led-by-state-bank-of-india-lenders-in-relation-to-settlement-of-the-outstanding-debt-liability","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2023\/01\/12\/khaitan-co-advises-a-consortium-of-16-lenders-led-by-state-bank-of-india-lenders-in-relation-to-settlement-of-the-outstanding-debt-liability\/","title":{"rendered":"Khaitan & Co advises a consortium of 16 lenders led by State Bank of India (“Lenders”) in relation to settlement of the outstanding debt liability"},"content":{"rendered":"
\n

DEAL DETAILS<\/p>\n\n\n<\/colgroup>\n\n\n
\n

State Bank of India | Religare Finvest – Pre-insolvency resolution and related issues<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n\n<\/colgroup>\n\n\n\n\n\n\n
\n

NO<\/p>\n<\/td>\n

\n

HEADINGS<\/p>\n<\/td>\n

\n

DETAILS<\/p>\n<\/td>\n<\/tr>\n

\n

1.<\/p>\n

  <\/td>\n

\n

Name of Client<\/p>\n<\/td>\n

\n

State Bank of India<\/p>\n<\/td>\n<\/tr>\n

\n

2.<\/p>\n

  <\/td>\n

\n

Deal Description<\/p>\n<\/td>\n

\n

Advised a consortium of 16 lenders led by State Bank of India (“Lenders<\/span>“) in relation to settlement of the outstanding debt liability of an aggregate amount of INR 5,576 crores owed to the Lenders by Religare Finvest Limited (“RFL<\/span>”). The settlement arrangement has been entered amongst the Lenders, RFL and Religare Enterprises Limited which is to be implemented through payment of an agreed settlement amount upfront and sharing of certain upside with the Lenders in a time bound matter and through a consent arrangement.<\/p>\n<\/td>\n<\/tr>\n

\n

3.<\/p>\n

  <\/td>\n

\n

Team Members<\/p>\n<\/td>\n

\n

The core team consisted of Kumar Saurabh Singh (Partner), Riya Agicha (Principal Associate), Prashamsha Tulachan (Associate), Saumya Agarwal (Associate) and Devisha Dhanuka (Associate) with assistance from the following:
For litigation related aspects: Vishnu Shriram (Principal Associate)
For tax related aspects: Vinita Krishnan (Director), Puru Medhira (Associate)<\/p>\n<\/td>\n<\/tr>\n

\n

4.<\/p>\n

  <\/td>\n

\n

Other legal advisors if any with names of Lead Lawyers<\/p>\n<\/td>\n

\n

Cyril Amarchand and Mangaldas acted as the company's legal counsel.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

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The securities market regulator vide its order dated 19-03-2019, had barred\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":181054,"url":"https:\/\/www.scconline.com\/blog\/post\/2018\/01\/13\/grounds-not-urged-appeal-arbitral-award-may-not-raised-second-appeal\/","url_meta":{"origin":281507,"position":1},"title":"Grounds not urged in an appeal against arbitral award may not be raised in second appeal","author":"Saba","date":"January 13, 2018","format":false,"excerpt":"Delhi High Court: A Division Bench comprising of G.S Sistani and V Kameswar Rao, JJ., dismissed an appeal under Section 37 of the Arbitration and Conciliation Act, 1996 (hereinafter \u201cArbitration Act\u201d) read with Section 10 of the Delhi High Court Act, 1966 and Section 13 of the Commercial Courts Act,\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":272627,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/08\/30\/bombay-hc-s-14-sarfaesi-act-empowers-designated-authority-assist-secured-creditors-possession-secured-assets-legal-updates\/","url_meta":{"origin":281507,"position":2},"title":"Bombay High Court| S. 14 of SARFAESI Act empowers the Designated Authority only to assist secured creditors in taking possession of secured assets and nothing more","author":"Editor","date":"August 30, 2022","format":false,"excerpt":"Bombay High Court: While deciding the instantwrit petition wherein the issue was regarding transgression of Additional District Magistrate's jurisdiction under Section 14 of the SARFAESI Act; the Division Bench of A.S. 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Shriram, JJ., observed that the jurisdiction of the Designated Authority under Section 14 of the SARFAESI\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Bombay High Court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/Bombay-HC.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/Bombay-HC.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/Bombay-HC.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/Bombay-HC.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/Bombay-HC.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":349675,"url":"https:\/\/www.scconline.com\/blog\/post\/2025\/06\/04\/delhi-high-court-sets-aside-rbi-nbfc-registration-cancellation-shabros-finvest-legal-news\/","url_meta":{"origin":281507,"position":3},"title":"Delhi High Court sets aside RBI’s NBFC registration cancellation of Shabros Finvest; Directs reconsideration","author":"Arunima","date":"June 4, 2025","format":false,"excerpt":"The central dispute involved RBI\u2019s cancellation of Shabros Finvest Pvt. Ltd.\u2019s NBFC registration for allegedly failing to meet the prescribed Net Owned Fund (NOF) requirement.","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"Delhi High Court","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Delhi-High-Court.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Delhi-High-Court.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Delhi-High-Court.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/02\/Delhi-High-Court.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":297403,"url":"https:\/\/www.scconline.com\/blog\/post\/2023\/07\/21\/khaitan-co-advises-infosys-in-respect-of-indian-law-matters-on-the-acquisition\/","url_meta":{"origin":281507,"position":4},"title":"Khaitan & Co advises Infosys in respect of Indian law matters on the acquisition","author":"Bhumika Indulia","date":"July 21, 2023","format":false,"excerpt":"DEAL DETAILS Infosys Limited | Acquisition of the captive unit of Dankse Bank in India Infosys Limited and Dankse Bank A\/S have entered into an agreement pursuant to which Dankse Bank will outsource some of its IT services to Infosys. 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