SWAMIH Fund (being a Government of India initiative, to provide last mile funding to projects that are stalled owing to lack of funds) granted a loan of Rs. 360 Crores to Mantri Group, for their residential project “Mantri Serenity”. This Project has an existing lender i.e. Piramal Capital Finance and the Land Owners of the Project are Gokulam Shelters , an entity forming part of Iskcon Group.
The Firm represented Piramal Capital Finance and the Land Owners in this transaction. The transaction was led by Karan Ajitsaria, Partner and assisted by Charumathi M., Principal Associate and guided by Srinivas B. R., Partner. The same team had also advised Piramal Capital Finance in their lending of Rs. 650 Crores in Mantri Group in 2018, for the same project.
Here’s a link to the press coverage in Deccan Herald, for more details. https://bit.ly/3nK3Uxg
