Khaitan & Co advised CSB Bank Ltd in connection with the extension of financial assistance in the form of a rupee term loan facility of INR 140 crores (Facility) to Indrajit Power Pvt Ltd (Borrower). The Facility was extended for part financing the implementation of the resolution plan submitted by a consortium comprising Evonith Holdings Pte. Ltd. and Evonith Metallics Ltd (Resolution Applicants) under the corporate insolvency resolution process of the Borrower pursuant to the Insolvency and Bankruptcy Code, 2016. The proceeds of the Facility were utilised towards repayment of a portion of the Borrower’s existing indebtedness in accordance with the approved resolution plan.
The core team consisted of Kumar Saurabh Singh (Partner), Rolwine Alva (Partner), Abhay Agarwal (Principal Associate), Ojasav Chitranshi (Associate) and Govinda Shrikant Asawa (Associate).