SNG & Partners has successfully closed a significant transaction in the EV space. The Firm advised State Bank of India in relation to grant of a term loan facility to part finance a project awarded to an operator entity, a relatively new entrant in the EV space through a supply-cum-operation and maintenance agreement (“SCOM Agreement”) for procurement of electric buses and the construction, operation and maintenance of depots. This project was awarded by the Navi Mumbai Municipal Transport.
The Firm played a pivotal role in facilitating this transaction which inter-alia included drafting, negotiating and finalizing facility and security documents, and providing legal advisory and documentation support. The firm also advised and opined on the SCOM Agreement from a creditor’s perspective.
The transaction team comprised Mr. Sharad Joshi (Partner), Ms. Namrata Mehta (Senior Associate), Ms. Prarthana Markod (Associate) and Ms. Bhavika Dharod (Associate).