Majmudar & Partners advised Canara Bank, London, in relation to a EUR10,000,000 facility provided to 3B Fibreglass SRPL, Belgium, a member of the 3B Binani group of companies, which was backed by a corporate guarantee of EUR10,600,000 extended by Binani Industries Limited, India (the ultimate holding company of the 3B Binani group). The transaction was complex as it needed the approval of the Reserve Bank of India.

Prashanth Sabeshan led the Majmudar & Partners’ team.