Dhir & Dhir acted as Legal Advisors & Legal Lenders Counsel to India Infrastructure Finance Company (the “IIFCL”) in a Take-out Finance deal of Rs 400 Cr with IDFC. IDFC had granted a Rs. 2120 Cr Loan to MEP Infrastructure for a contract agreement with Maharashtra State Road Development Corporation Limited. The project is for financing, operation, monitoring, maintaining and toll collection at 5 flyovers, on entry points of Mumbai for a period of 16 years.

IIFCL under its Takeout Finance Scheme has granted the financial assistance to the Borrower for the purpose of replacing/ substituting/ take out of part of the outstanding principal amount of IDFC for the Project. IDFC had down sold an amount of Rs.500cr to Canara Bank and Rs.300 Cr to HDFC Bank, and out of balance of Rs.1321 Cr, Rs. 400 Cr has been substituted under the takeout scheme of the IIFCL.

The team constituted of Jatinder Cheema, Partner, Girish Rawat, Principal Associate, Guranpreet Sarna and Jyoti Ojha.