Trilegal Advised Sumitomo Corporation For Real Estate Project In Mumbai
Trilegal advised Sumitomo Corporation (Sumitomo) in connection with its investment into Powai Lake Residential Private Limited (PLRPL) (a newly incorporated special purpose vehicle) via issuance of equity shares and non-convertible debentures.
Trilegal also advised Sumitomo in relation to the development of a residential real estate project by PLRPL and the procurement of development rights in relation to the same. Further, Trilegal also advised Sumitomo in connection with the appointment of development and asset managers to provide services to PLRPL.
Trilegal drafted, negotiated, and reviewed the investment agreement, debenture trust deed, debenture trust agreement, development management agreement, asset management agreement, development agreement and tripartite agreement, including review of related documentation. Trilegal also reviewed and advised on the Title Opinion issued by an external advisor in relation to the real property proposed to be developed.
PLRPL is set out to utilise such funds from Sumitomo, and additional funds from Hines, for the proposed development, construction and completion of a residential real estate project located in Powai, Mumbai, Maharashtra.
The Trilegal Corporate Team advising on the mandate was led by Partners: Prateek Lala and Shivani Kabra; and supported by Counsel: Ritwik Mukherjee; Senior Associate: Rachna Chhabria; and Associate: Saurabh Saket.
The Trilegal Real Estate Team advising on the mandate was led by Partners: Mridul Kumbalath and Sadaf Shaikh; and supported by Counsel: Dilnaz Bapasola; Senior Associate: Roshini Bansal.
The Trilegal Banking & Finance Team advising on the mandate was led by Partner: Prasan Dhar; and supported by Counsel: Aditya Gupta.
The Trilegal Projects Team advising on the mandate was led by Partner Swathy Pisharody; and supported by Senior Associate: Oindrilla Mukherjee.
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