Dhir & Dhir Associates

Dhir & Dhir Associates is best known for its restructuring and insolvency, and capital markets practices. The firm climbs up in the regulatory, and technology and telecommunications rankings this year. The firm was one of the first entrants into the stressed assets advisory space back in the early 1980s. Thus, its long-standing experience of 36 years in the insolvency realm makes it a go-to firm with clients appreciating its substantial, well-rounded contentious and non-contentious practice. The firm is currently handling more than 25% of the non-performing assets insolvencies in the country. The core practices of managing partners Alok Dhir and Maneesha Dhir are in restructuring and insolvency, and corporate and M&A. Alok Dhir is also known for his expertise in real estate and private equity, while Maneesha Dhir is active in telecommunications, media and technology as well as dispute resolution.

Banking and finance

Work highlights

Advised as L&T Infrastructure Finance on a term loan facility to Acme Solar Holdings for the refinancing the outstanding debt of its companies in relation to their respective solar power projects.

Acted for PTC India Financial Services on conducting the due diligence and documentation pertaining to subscription of non-convertible redeemable debentures issued by Ostro Energy.

Key clients

HDFC Bank, IndusInd Bank, Saraswat Co-operative Bank, Tata Cleantech Services

Corporate and M&A

Work highlights

Advised a media and broadcasting company on the acquisition of its joint venture partner’s shareholding and minority shareholding of promoters by an investor.

Assisted an international client in relation to the share subscription of a government incorporated SPV to undertake the business of a government project.

Key clients

Atal Nagar Vikas Pradhikaran, Bombay Hemp Company, Fastway Transmissions, GCC Services India

Dispute resolution

Work highlights

Representing the Amtek Group Companies in over 35 various claims filed by the lenders before the Debts Recovery Tribunal in New Delhi for the recovery of their outstanding dues.

Advising Jaiprakash Associates and Jaypee Infratech on contesting the claim of consortium lenders claiming a total amount of more than $1.34 million.

Key clients

Binani Industries, Essar Steel India, Jindal India Thermal Power, Murli Industries, Punjab National, Soma Enterprises, State Bank of India

Energy

Work highlights

Represented PTC Indian Financial Services in providing financial assistance to Azure Power India for the purposes of incurring initial capital expenditure for the implementation and execution of ground-mounted solar power projects being implemented by the borrower through several SPVs.

Acting for India Infradebt on the refinancing of existing loan facilities of RFE Belgaum Solar to provide financial assistance to 15 solar power projects in Karnataka.

Infrastructure 

Work highlights

Advised IndusInd Bank on its financing to Kanpur River Management for the purpose of designing and maintaining seven sewage treatment infrastructure plants.

Key clients

HDFC Bank

Labour and employment 

Work highlights

Providing advice to Dion Global Solutions relating to the GDPR and its implementation across its offices based in London and Australia.

Advising Taurus Asset Management and Taurus Investment Trust in drafting all their HR and labour-related policies, particularly those pertaining to insider trading.

Key clients

Fastway Transmissions, GCC Services India, India Infrastructure Finance Company, Rocking Engineering Solutions

Restructuring and insolvency

Work highlights

Representing the resolution professional of media company Deccan Chronicle Holdings in its appeal preferred by SREI Infrastructure, wherein SREI was objecting to its removal from the committee of creditors on account of SREI having a shareholding in the company, which is undergoing a resolution process.

Assisting Jindal India Thermal Power in filing a writ petition against the minority lender ICICI Bank, which is opposing the revival of the company based on RBI circular terms.

Key clients

Avantha Holdings, Binani Cement, Cox & Kings, Eight Capital India Recovery Fund, Essar Steel, MBL Infrastructure, Punjab Bank

Technology and telecommunications 

Work highlights

Engaged by AT&T to study and follow its domestic company’s insolvency process and advise it on any consequences that could arise.

Provided legal advisory to CME Group on the country’s telecommunications regime.

Key clients

Dion Australia, Gemalto Digital Security, Pisces Eservices, TBWA, Telecom Regulatory Authority of India

Client feedback

“The lawyers have in-depth knowledge of the subject matter and work in a strict time-bound manner.” – Banking and finance

Guranpreet Sarna

“He has sound knowledge of the sector, as well as the latest developments. He is available around the clock, clients can even call him in the middle of the night and he would still provide them with a solution.”