Dhir & Dhir Associates

The firms enters the Regulatory table at ‘Notable’ this year. 

Banking and finance  

Work highlights 

Assisted Power Finance Corporation by drafting agreements, negotiating with transactional parties and providing regulatory advice on borrowing $300 million from a group of banks including Mizuho Bank and Bank of Tokyo-Mitsubishi. 

Advised L&T Housing Finance and India Infrastructure Finance on securitisations: a retail loan portfolio and sale to Suraksha Asset Reconstruction for the former and infrastructure loan portfolio and transfer to Edelweiss Asset Reconstruction for the latter.  

Key clients 

India Infrastructure Finance, Indian Railways Finance Corporate, L&T Housing Finance, Power Finance Corporation, PTC India Financial Service 

Capital markets 

Work highlights 

Instructed by Indian power company SJVN, the team has helped the national government’s push to divest from public sector companies by assisting on a share buyback worth Re5.6 billion ($81.6 million).   

Key clients 

Annika Promoters, Dixon Technologies, DMI Finance, Indian Railways Finance, Mahagun Real Estate, Panchsheel Buildtech, SJVN  

Corporate and M&A 

Work highlights 

Advised auto parts supplier AG Industries on its merger with its subsidiary Gmax Auto, which was approved by the National Company Law Tribunal in Chandigarh, capital of Haryana and Punjab in the north. 

Advised Fastway Transmissions, a radio channel and digital cable television service provider, on a deal involving a buyout of shares held by a joint venture partner. 

Key clients 

AG Industries, Cement Corporation of India, Fastway Transmissions, INR Energy Ventures  

Dispute resolution 

Work highlights 

Representing Hindustan Cleanenergy in an arbitration matter against LDK Solar Hi-Tech involving which arbitral tribunal should hear the dispute. At signing, the parties had agreed that the China International Economic and Trade Arbitration Commission (CIETAC) Shanghai would be the panel. CIETAC Shanghai subsequently changed its name to the Shanghai International Economic and Trade Arbitration Commission. LDK contends the tribunal should be CIETAC Beijing. 

Key clients 

Harsha Green Constructions, Hindustan Cleanenergy, L&T Infrastructure Finance, National Textile Corporation  

Private equity 

Work highlights 

Advising commercial property developer International Recreation and Amusement on a nearly Re2 billion funding round by a new investor.  

Key clients 

International Recreation and Amusement 

Regulatory 

Work highlights 

Working with ANI Technologies, an Indian online transportation network company, on the regulatory impact of harmonising its existing and proposed call centres, which coordinate cab operations. ANI is also expanding into Sydney and the team is helping with the regulatory issues of the project. 

Key clients 

ANI Technologies  

Restructuring and insolvency 

Work highlights 

Represented Punjab National Bank before the National Company Law Appellate Tribunal (NCLAT), which decided if the creditors’ committee approved or disapproved any resolution plan, the NCLAT would need to examine the plan. The issue then became whether the 270-day mandated period for resolution had commenced since the case began or whether the clock stopped during the appeals. The team is addressing that issue in a case involving the Industrial Development Bank of India.  

Key clients 

BCC Estates, BILT Graphic Paper Products, EPC Constructions India, Industrial Development Bank of India, Punjab National Bank, Shri Lakshmi Cotsyn, Su Kam Power Systems  

Client feedback 

“We are very happy with Dhir & Dhir Associates. Maneesha Dhir, Roopa Somasundaran, KPS Kohli and Sharmistha Ghosh have dedicatedly conducted detailed researched and given extra efforts to ensure justice for all. Roopa knows exactly what clients need and is always proactive and available for any assistance 24 hours. Hats off to the whole team.” – Dispute resolution 

 “The biggest strength of the firm is the dedicated and individual attention given to the client, and the understanding developed because of this attention.” – Banking and finance, Regulatory 

 “They are one stop shop on insolvency related issues. It is their core strength. They also have excellent skills in dispute resolution on commercial contracts in court as well as alternate forums.” – Banking and finance, Dispute resolution, Restructuring and insolvency 

 “Very up-to-date on the insolvency bankruptcy code. Quick to respond and spent sufficient time with us on call and personal meeting. Good and knowledgeable staff.” – Restructuring and insolvency