National Asset Reconstruction Company Limited (“NARCL”) has acquired its first stressed asset of Jaypee Infratech Limited for a purchase consideration of ₹3,570 Crores in the form of cash and security receipts.

Orbit Law Services acted as Lenders’ Legal Counsel for the consortium banks and financial institutions comprising nine lenders led by IDBI Bank Limited for assignment of loans with an approximate principal outstanding of ₹7,800 Crores.

The transaction team consisted of Damodara Rao BM (Joint Managing Partner), Ashok Kamble (Senior Partner) and Shruti Sareen (Associate Partner).

The team worked in conjunction with the transaction Advisors IDBI Capital Markets and Securities Limited.

The transaction has beenbacked by first of its kind Government of India guarantee which paves way for similar transactions in future.

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