Khaitan & Co advised TVS Credit Services Limited in relation to borrowing through a subordinate debt from HDFC Bank for INR 50 crores for the purpose of augmenting the capital base-Tier II capital of TVS Credit Services.

TVS Credit Services is part of the $6bn TVS Group and is retail financier for TVS Motor Company. TVS Credit is registered with the RBI as a non-deposit taking Non-Banking Finance Company (NBFC).

Manisha Shroff (partner), Oindrila Bhowmik (associate) and Ankit Chavan (associate) represented the client on the transaction.