Dentons Link Legal acted as lenders’ legal counsel to State Bank of India (“Lender”), on providing lease rental discounting facilities of INR 450 Crore with a sub limit of overdraft facility of INR 45 Crore to Shreno Limited (a group company of Alembic Pharma Group) in relation to a commercial complex based out of Bengaluru. The transaction involved structuring the transaction for ring fencing the documentation to the current project, as it is proposed to add subsequent business in the borrowing entity. The scope of work involved, inter alia, (a) advising the Lender on the restrictions under the lease agreement as the lessee is Google INC and structuring the document basis such lease agreement; (b) structure on escrow arrangement (considering receipt of advance lease rental payments); (c) advising the lender on sale mechanism of the underlying surplus land.

The Dentons Link Legal team comprised of Madhur Verma (Partner) supported by Harshul Sharma (Associate) in certain closing aspects of the deal.

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