Firm Matters
BackKhaitan & Co advised TVS Emerald Ltd (the real estate arm of the TVS Group) (“Sponsor”), on its INR 239 Crore investment from International Finance Corporation, the private sector arm of the World Bank Group, through the issuance of listed, unsecured, rated, redeemable, principle-protected, non-convertible debentures by the Sponsor’s subsidiaries, namely (i) Emerald Haven Properties Pvt Ltd; (ii) Emerald Haven Life Spaces 2 Pvt Ltd; and (iii) Emerald Haven Life Spaces 3 Pvt. The proceeds of the debentures are inter alia earmarked for the development of the two residential housing projects of the Sponsor which are being developed by its subsidiaries and situated in Bangalore and Chennai.
We also assisted the Sponsor in: (i) the preparation and negotiation of the investment and real estate project development related documents; and (ii) the title diligence of the plotted project land in Chennai and Bengaluru on which the residential projects are being developed.
Deal Team
The core team consisted of Manisha Shroff (Partner), Rajshekhar Upadhyaya (Principal Associate), Aparna Arya (Senior Associate), Charul Lunia (Associate) and Shivansh Kumar Jain (Associate) and Corporate team consisted of Varun Narayan (Partner), Atul Narayan (Senior Associate), Akhila Deekshitha Baddepudi (Associate), and Rexey Soosan Sabu (Associate).
The deal was assisted by:
Dispute Resolution: Arva Merchant (Partner) and Vaishnavi Subrahmanyam (Principal Associate)
Real Estate: Sudheer Madamaiah (Partner), Darsha Prakash (Associate) and Esha Sanjyot Shah (Associate)
