The Firm has advised, strategized and instituted proceedings for recovery of a sum of over Rs.1900 Crore on behalf of Lenders (Power Finance Corporation, Housing, and Urban Development Corporation Limited and India Infrastructure Finance Company Limited). The proceedings for recovery of the amount have been initiated under the provisions of the RDDB&FI Act, 1993 and the same are pending adjudication before Debts Recovery Tribunal-II, Delhi. The Firm has been instrumental in obtaining certain interim reliefs for the Lenders as the amount for recovery involved in the matter is very high. The Firm has obtained reliefs such as (i) restrain on Defendants from alienating any of their movable and immovable assets, (ii) restrain on transfer by way of sale, lease or otherwise any of their assets, (iii) any sale proceeds to be deposited with Lender holding interest on the said asset. Defendants have been further directed to file a detailed affidavit of assets. The team was led by Jayashree Shukla Dasgupta, Partner along with team members, viz., Swati Sharma, Senior Associate and Saloni Choudhary, Senior Associate. The scope of work included advising, strategizing and drafting of the Original Application, coordinating with Lenders and appearing before the Debts Recovery Tribunal and protecting the interest of the Lenders involved.