India

Recent highlights

Banking and Restructuring

• Advising various Indian banks, operating either through a subsidiary or as a branch within the UK in relation to various syndicated term loans, working capital and revolving credit facilities in the range of US$ 30m to US$ 200m often granted to India headquartered conglomerates to support their UK business and operational needs.
• Advised the UK subsidiary of a leading Indian public sector bank in relation to its debt sale of a UK based corporate borrower to an Indonesian investor which was governed by English law. We also engaged with a leading boutique Indonesian law firm to conduct buyer’s due-diligence and assist with certain required Indonesian law governed documents to affect the transfer of securities to the buyer and to register the transferred securities.
• Acting for 2 Indian Banks in connection with the reorganisation of a London hotel group. The total bank debt was c.£50m and the wider reorganisation involved a total of 9 lenders across 10 hotels in central London, with a global debt value across the lender group in excess of £200m.
• Acting for a consortium of 13 Indian banks led by State Bank of India in successfully defeating a challenge brought by high-profile Indian businessman Dr Vijay Mallya against an order registering an Indian judgment (£1.145bn) with the English High Court and obtaining a supporting freezing injunction. Continuing to act for the banks in relation to bankruptcy proceedings against him, having obtained a bankruptcy order in July 2021
• Advising a major Indian bank in connection with a £200m syndicated development facility funding in relation to a mixed-use site in central Mayfair comprising of high-end residential flats and a Mandarin Oriental hotel.
• Acting for IDBI Bank in relation to the enforcement of a US$200M loan facility for the construction of two oil rigs. Advice included liaising with Singaporean lawyers as to the bank’s rights and options given the liquidation of the borrowers. Proceedings issued in the English Courts against the Cypriot parent corporate guarantor were successful.
• Advising Speciality Restaurants on its London debut on the site acquisition for a new flagship restaurant at marble Arch called ‘Chourangi’. The company has its registered office in Kolkata and head office in Mumbai with over 130 restaurants in 25 cities across five countries. Speciality Restaurants is listed on the BSE and NSE stock exchanges of India. TLT advised on real estate and corporate structuring.
• Providing advice to a large Indian private bank in reviewing its entire legacy book of LIBOR-based bilateral and syndicated loans as part of its project to transition away from LIBOR to a successor risk-free reference rate (RFR).
• Advising the UK office of a leading Indian bank on recovery action relating to loans provided to two connected entities for the purpose of the purchase of a Bahamian registered cruise line and consolidating existing debt, supported by several linked personal and corporate guarantees from multiple jurisdictions.
• Advising a number of Indian banks in relation to their minority lender rights under a syndicated loan facility for US$ 400m in relation to loans made to two Australian subsidiaries of an Indian mining conglomerate.

Data, Privacy and Cybersecurity

• Advising one of the "top 4" premier league football clubs on a global privacy compliance review related to its safeguarding operations in the UK and throughout its global network of clubs.
• •Advising a major telecommunications provider on a global privacy review project covering various jurisdictions including Russia, China, Ukraine, Singapore, India and Philippines. Our mandate includes advising on the privacy regimes in these countries.
• Advised a bank on international data transfer issues, including advising on the transfer of data from the UK to India to enable compliance with regulatory reporting requirements in India, advising on the transfer of data to India for the provision of back-up and related administration services, drafting model contracts and related services agreements to ensure compliance with data protection and Financial Conduct Authority requirements.

Ship finance practice (through TLT’s Piraeus office)

• Acting for a sophisticated hedge fund to arrest a vessel in India. TLT worked with leading local law firms/ counsels to complete the enforcement process.

Employment

• Advised Ecovyst Inc. (formerly PQ Group Holdings, Inc.) on a cross-border sales re-organisation of a business division involving employees in about 15 countries, including Thailand, Indonesia, Brazil and Mexico. We advised the client on English law related issues under the prevailing employment law. Our mandate also included to instruct and co-ordinate with local law firms in these jurisdictions and to obtain and finalise local law advise on behalf of the client. 
• Advising a leading online cloths retailer on right to work matters relating to a number of people of Indian origin working in the U under Portuguese passports.  

International Trade

• Advising and assisting the Department of International Trade (DIT), Government of the UK in relation to the much-anticipated bilateral free trade agreement to be entered into between India and the UK. TLT partnered with two leading Indian law firms, namely Cyril Amarchand Mangaldas and Economic Law Practice as a part of ‘One team’ strategy.