Saraf and Partners

𝐉𝐮𝐬𝐭 𝐨𝐧𝐞 𝐝𝐚𝐲 𝐭𝐨 𝐠𝐨!

We are looking forward to an engaging conversation at , where our Founder & Managing Partner, Mohit Saraf, will be moderating a panel on “Leasing as a New Model for Growth," exploring evolving strategies shaping the hospitality sector.

📍 Grand Hyatt Mumbai
🗓 9 April 2026 | 4:20 PM – 4:50 PM

Join us for the discussion: https://www.hicsaconference.com/registration

We are pleased to share that our Founder & Managing Partner, Mohit Saraf , will be moderating a panel on “𝐋𝐞𝐚𝐬𝐢𝐧𝐠 𝐚𝐬 𝐚 𝐍𝐞𝐰 𝐌𝐨𝐝𝐞𝐥 𝐟𝐨𝐫 𝐆𝐫𝐨𝐰𝐭𝐡,” at the 21st Edition of the 𝐇𝐨𝐭𝐞𝐥 𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭 𝐂𝐨𝐧𝐟𝐞𝐫𝐞𝐧𝐜𝐞 - 𝐒𝐨𝐮𝐭𝐡 𝐀𝐬𝐢𝐚 (𝐇𝐈𝐂𝐒𝐀) 𝟐𝟎𝟐𝟔 in Mumbai.

𝐒𝐞𝐬𝐬𝐢𝐨𝐧 𝐝𝐞𝐭𝐚𝐢𝐥𝐬:
• Date: Thursday, 9 April 2026
• Time: 16:20 – 16:50
• Venue: Grand Ballroom, Grand Hyatt Mumbai Hotel & Residences

Register to attend the panel discussion here: https://www.hicsaconference.com/registration

Saraf and Partners advised 𝐚 𝐜𝐨𝐧𝐬𝐨𝐫𝐭𝐢𝐮𝐦 𝐨𝐟 𝐬𝐢𝐱 𝐥𝐞𝐧𝐝𝐞𝐫𝐬, 𝐥𝐞𝐝 𝐛𝐲 𝐈𝐂𝐈𝐂𝐈 𝐁𝐚𝐧𝐤 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 in connection with term loan facilities aggregating to INR 44.149 billion (Facility) extended to 𝐒𝐄𝐈𝐋 𝐄𝐧𝐞𝐫𝐠𝐲 𝐈𝐧𝐝𝐢𝐚 𝐋𝐢𝐦𝐢𝐭𝐞𝐝 (Borrower), a leading independent power producer (IPP) operating a 2,640 MW supercritical coal-based thermal power plant in Krishnapatnam, Andhra Pradesh (Project).

The Facility was utilized for refinancing the existing term debt exposure availed by the Borrower for funding the project cost and enabled the Borrower to transition from a corporate guarantee backed term debt exposure to an asset-backed borrowing framework.

The Firm also engineered a seamless transition where India Infrastructure Finance Company Limited (IIFCL) took over a portion of the term debt exposure from the incoming lenders, which necessitated devising and documenting a sophisticated legal framework allowing IIFCL to accede into the consortium, in a time sensitive manner.

The Firm comprehensively handled the legal due diligence, structuring, closing of all financing documentation and advised the lenders on complex takeout finance and intercreditor arrangements.

The transaction team was led by our Partner, 𝐑𝐨𝐡𝐢𝐭 𝐑𝐚𝐠𝐡𝐚𝐯𝐚𝐧, and included Senior Associate, 𝐀𝐚𝐲𝐮𝐬𝐡 𝐒𝐮𝐧𝐞𝐣𝐚, and Associate, 𝐊𝐡𝐮𝐬𝐡𝐢 𝐀𝐠𝐫𝐚𝐰𝐚𝐥.