Gagrats

The firm enters the Banking and finance practice area ranking on the back of its ‘Highly regarded’ air finance team. 

Banking and finance  

Work highlights 

Among the team’s many air finance deals during the past 12 months, they worked on the sale and leaseback of several new B737-8 Max aircraft by an international airline. The transaction involved five commercial aviation financial services companies: GE Capital Aviation (four aircraft), Goshawk Aviation (five), Pembroke Capital (four), Jackson Square Aviation (four) and SMBC Aviation Capital (four to six).   

Capital markets 

Work highlights 

Advised a bio refinery company on a proposed rights issue. The team also assisted a publicly listed company with contractual, legal and regulatory matters about the issue of compulsorily convertible preference shares (CCPSs). CCPSs do not require cash payment, and the number of equity shares during conversion is fixed. 

Construction 

Work highlights 

Instructed by Somaiya Group, the firm worked on KJ Somaiya Hospital’s super-specialty centre in Mumbai. Work also included structuring the centre’s operations and management. 

Key clients 

Bar Bar Hospitality, ECGC Somaiya, Forbes Marshall, The Deccan Minerals  

Corporate and M&A 

Work highlights 

Advising a publicly listed company, the team assisted with restructuring the client’s board of director and advisory committees.  

Gagrat also worked on a joint venture between a logistics company and UPS, including the proposed sell-down of the logistic company’s stake.  

The team has also been assisting on Jet Airways and Jet Lite’s proposed merger, one of the largest in India’s aviation industry. The outcome is uncertain because the government blocked the merger in May 2018. 

Key clients 

AB Optimise, Jet Airways, Kirloskar, Somaiya, Thomas Cook 

Dispute resolution  

Work highlights 

Assisting Electronfab Engineering, the firm has managed residential property disputes against Runwal Group, a large Mumbai real estate developer. 

Key clients 

Electronfab Engineering