Dhir & Dhir Associates acted as legal advisors to Saraswat Cooperative Bank Limited for the limited due diligence and documentation pertaining to the financial assistance of up to INR 150 Mn sanctioned to Renew Saur Vidyut Private Ltd. (a wholly-owned subsidiary of Renew Solar Energy Private Ltd.) for part repayment of the unsecured loans availed by Renew Saur Vidyut Private Ltd. from its promoters for the operation and maintenance of the 5 MW rooftop solar power project in the premises of Toyota Kirloskar Motor Private Ltd. at Bidadi Industrial Area, Ramnagara District in the state of Karnataka.

The team included Girish Rawat, Partner, Varun Chauhan, Senior Associate, and Ashneet Chhabra, Associate. The scope of work included conducting limited review of the power purchase agreement executed by the borrower company with Toyota Kirloskar Motor Private Limited, drafting of the financing and security documents, drafting of the resolutions and certificates as per pre-commitment conditions of the sanction letter of the lender, drafting of ancillary certificates, letters and undertakings and issuing opinion on the legal issues.