Linklegal-India Law Services, acted as lenders’ legal counsel to SBI led consortium of lenders which have sanctioned financial assistance aggregating Rs.3,530,000,000/- including sub limit by way of letter of credit of Rs.1,800,000,000/- to Tangsibji Hydro Energy Limited (the “Borrower”) for setting up of a 118 MW (2 X 59MW) hydro power project located on the Nikachhu river in Trongsa District, Bhutan and other associated facilities (the “Project”) at an estimated cost of Rs.11,894,000. Asian Development Bank has also sanctioned financial assistance aggregating USD 70,000,000 for the Project.
The Borrower is promoted by Druk Green Power Corporation Limited which is a wholly owned subsidiary of Druk Holding and Investments Limited, a holding and investment arm of the Royal Government of Bhutan.
Linklegal-India Law Services was involved in drafting, negotiation and finalization of finance and security documents, in consultation with a Bhutanese counsel, which were executed on November 1, 2015 at Thimpu, Bhutan. The transaction was led by Ms. Vishakha Bhagvat, Partner who was assisted by Senior Associates, Ms. Avni Chordia and Mr. Rohit Pereira.
The post Linklegal acts as Lenders’ legal counsel to SBI appeared first on Live Law.