Khaitan & Co advised Piramal Finance in relation to a rupee term loan facility for INR 625 crores for the Sheth Group. The loan is to back Sheth Group’s involvement in the development of the residential project ‘Beaumonte’ at Sion, Mumbai, which is being jointly developed by Sheth and the Sahana Group.
The firm also advised in relation to the title of Sahana Sheth to undertake the construction and development of the project by implementing a mixed scheme consisting of a slum scheme and MHADA redevelopment.
Kumar Saurabh Singh (partner), Rajeev Vidhani (principal associate), Rolwine Alva (senior associate), Nikita Nehriya (associate) and Dhwani Shah (associate) advised on the financing transaction. Abhishek Sharma (partner), Devendra Deshmukh (principal associate) and Harsh Parikh (principal associate) advised on the real estate aspects of the transaction and the title of the project.
Piramal Finance Private Limited is a non-banking financial company. It was formerly known as PHL Finance Private Limited. It operates as a subsidiary of Piramal Enterprises Limited.