Dhir & Dhir Associates

With a representative office in Japan, Dhir & Dhir Associates is highly recommended for capital markets and restructuring and insolvency. 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. Partners Sarbasuchi Das and Siva Gopinatham, who practice in banking and litigations, left the firm in February and October 2018.

Banking and finance

Work highlights

Acted for Xander Finance and JM Financial Products in providing a facility of $21.1 million to Delhi Baroda Road Carrier for its repayment of the existing loan and business operation.

Advised L&T Infrastructure Finance Company on arranging working capital facility at the amount of Re650 million to six SPVs of a leading solar IPP for the development, implementation, construction and operation of solar photovoltaic power plants with the capacity of 90MW DC.

Key clients

Ansal Housing & Construction

Capital markets

Work highlights

Advised IDFC Score Fund on the subscription of Re900 million non-convertible debentures issued by SCC Builders and Shrine Buildtech, which will be used for repaying the existing debt and reimbursing the cost of the ‘SCC Sapphire’ project in Ghaziabad, Uttar Pradesh and meeting the working capital of the project.

Advised National Aluminium Company, a publicly listed mining, metal and energy company controlled by the Ministry of Mines in India, on its buyback of equity shares from the shareholders.

Key clients

Annika Promoters, Bharat Heavy Electricals, India Infrastructure Finance Company, Mahagun Real Estate, Panchsheel Buildtech, SJVN

Corporate and M&A

Work highlights

Advised National Aluminium Company on the acquisition of wind projects with a total capacity of 25MW from the developers Gamesha Renewable, ReGen Powertech and Suzlon Energy in Tamil Nadu.

Advised Zomato Media, an Indian restaurant search and discovery service, on setting up its new corporate office in Bangalore.

Key clients

IIFL Home Finance

Dispute resolution

Work highlights

Represented Telecom Regulatory Authority of India against a challenge over the Telecommunication (Broadcasting and Cable) Services (Second) Tariff (Fifteenth Amendment) Order 2015 filed by the broadcasters before the Telecom Dispute Redressal and Settlement Appellate Tribunal. The broadcasters claimed the order, which required the business subscribers to pay the same maximum tariff for TV signal as ordinary and domestic subscribers, violates Article 14 and 19(1)(g) of India’s constitution.

Key clients

Amtek Machining Systems, Airports Economic Regulatory Authority, GMR Group, Hindustan Cleanenergy, SB Impex

Investment fund

Work highlights

Advised Alchemist Asset Reconstruction Company on the establishment of the Securitisation Trust to acquire financial assets from Altico Capital India, and the scheme for raising funds up to Re2.52 billion from the qualified buyers for financing such acquisition.

Restructuring and insolvency

Work highlights

Advising Punjab National Bank on its debt in various subsidiaries of Infrastructure Leasing & Financial Service, which was under financial distress that caused the Indian government to take over its board.

Advising the committee of creditors, with REC as the single largest creditor in the pending resolution of Ferro Alloys, the oldest producer of ferro alloys in India, before the Kolkata bench of the National Company Law Tribunal.

Key client

Avantha Holdings, Jai Prakash Associates, Jindal India Thermal Power, Rural Electrification Corporation, Soma Enterprises

Regulatory

Work highlights

Advised Jost’s Engineering Company on measures to prevent a data breach and protect customers’ data.

Assisted Ola Fleet Technologies in procuring licences and ensuring compliance with the applicable laws for providing backend support to customers and lessees in India.  

Key clients

Dion Global Solution, Pisces eServices, ZipCash Card Services