Dhir & Dhir Associates has acted as the Lenders’ Legal Counsel to REC Limited, for the financial assistance of up to INR 11520 Million as rupee term loan to ACME Heergarh Powertech Private Limited, for part financing of solar PV project in the State of Rajasthan wherein we have conducted due diligence of the borrower company, its promoters and respective project documents. We also drafted the financing and security documents, reviewed the TSR and provided opinions on the legal issues.

Dhir & Dhir Associates has acted as the Lenders’ Legal Counsel to Axis Bank Limited, for the financial assistance of up to INR 3699.80 Million as rupee term loan to the 4 (four) SPVs of the Renew group, for repayment of the existing project indebtedness of the respective SPVs and to provide loans and advances to the group companies of the respective borrower SPV. The transaction involved a co-obligor structure wherein each SPV has undertaken to provide support to each other if any shortfall in the debt servicing of the lender(s) of any SPV. We have conducted the due diligence of the borrower company, its promoters and respective project documents. We also drafted the financing and security documents, reviewed the TSR and provided opinions on the legal issues.