J. Sagar Associates (JSA) advised State Bank of India, IFSC Banking Unit, GIFT City, Gandhinagar Branch (SBI GIFT City) in relation to US$ 10,000,000 secured term loan facility made available by SBI GIFT City to Sundaram Clayton Limited. Notably, the lender in this case is an IFSC Banking Unit (IBU) in the International Financial Services Centre (IFSC) at the Gujarat International Finance Tec-City (GIFT), Gandhinagar, Gujarat, India.

This is the first loan origination by the SBI’s GIFT City Branch, pursuant to the extant Reserve Bank of India regulations. The JSA team comprised Partner – Anish Mashruwala; Principal Associate – UtsavJohri and Associate – Ronak Thakkar. The Borrower was represented by its in-house legal team.