Partner | Banking and Finance
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education
- LL.M., University of Cambridge, UK (2002)
- B.S.L. LL.B., Symbiosis Society’s Law College, University of Pune (2001)
Devidas Banerji is a Partner in the Banking & Finance Practice Group in the Kolkata office.
Prior to joining Khaitan & Co, Devidas had an extensive stint at a leading magic circle firm across their London and Singapore offices. While in London, he was a part of the asset finance group, where he represented sponsors, banks, aircraft manufacturers and corporates in a myriad of cross border and structured financing transactions. During his tenure in London, he completed a secondment with a leading investment bank in London, where he was a part of the specialised finance team with a particular focus on Indian transactions.
Devidas joined the Firm in 2010 as Partner and ever since has been advising clients on a variety of complex banking and financing transactions, including advising on external commercial borrowings, acquisition financings, various cross border deals, asset financings, domestic restructurings, distressed and insolvency matters under the new Insolvency and Bankruptcy Code 2016.
Expertise
Professional Affiliations
- Bar Council of West Bengal, India
- Law Society of England & Wales, U.K.
- Incorporated Law Society of Calcutta
- CII (Eastern Region) – Committee Member
- Co-Chairman of Corporate and Legal Committee and Executive Committee Member – Indian Chamber of Commerce
Recognition and Accomplishments
- Devidas has been featured in ALB India’s Super 50 Lawyers for 2020
- Devidas has been ranked among the 40 brightest young legal minds in Asia in “Asian Legal Business – 40 under 40”
- Devidas has been recommended by Chambers Asia Pacific, Legal 500 and IFLR 1000 for his expertise in Banking and Finance
- Who’s Who Legal Project Finance 2015 has also reported him as a leading individual in the Banking & Finance sector in India
Representative Matters
Devidas Banerji has represented and advised the following clients
Barclays Capital
Advised on a one-year bridge loan of USD 950 million provided to Tata Power, India’s largest private power utility to finance the acquisition of 30% equity stakes in two major Indonesian coal producers, PT Kaltim Prima Coal and PT Arutmin Indonesia, as well as related trading companies, from PT Bumi Resources, Asia’s third largest coal miner. The deal marked Tata Power’s largest investment in Indonesia, as well as the largest acquisition In Indonesia in 2007.
Haldia Energy Limited (HEL)
Advised on a refinancing HEL’s 600 MW (2x300MW) thermal power plant at Jhikurkhali village of Baneswar Chak at Haldia, East Medinipur District, West Bengal, by a consortium of banks led by ICICI Bank Limited for INR 28.3 billion approximately.
BNP Paribas
Advised on a JPY 47 billion term facility and a JPY 138 billion term facility for Vodafone Essar Ltd.
Standard Chartered Bank
Advised on a USD 400 million loan facility for Tata Teleservices.
Investec Bank (UK) Limited and The Bank of Nova Scotia Limited
Advised on various financings of aircraft for the Reliance Group in India.
JP Morgan Chase Bank
Advised on the implications of the new ODI regime applicable to the lender in securing a guarantee from Alkem Laboratories Limited, a prominent pharmaceutical company in India, to facilitate a credit agreement with Ascend Laboratories, a step-down subsidiary of Alkem Laboratories. This arrangement was notable as one of the first guarantees following the overhaul of the overseas direct investment (ODI) regime in India, which introduced significant regulatory changes.
Standard Chartered Bank
Advised on a USD 95 million and EURO 20 million term loan facility provided to Kotak Mahindra Bank for general corporate purposes.
Mizuho Bank, Ltd.
Advised on USD 250 million ECB facility granted to Oil India Limited for funding its domestic capital expenditure requirements.
Deutsche Bank AG, Singapore
Advised on the Indian law aspects and enforceability of an export advance payment and supply agreement entered into between Jubilant Life Sciences NV (as the buyer) and Jubilant Life Sciences Limited, which was financed by Deutsche Bank AG, Singapore.
Japan Bank for International Cooperation
Advised on the USD 100 million External Commercial Borrowing extended to Export-Import Bank of India, a wholly owned by the Government of India. The Agreement was signed during the Japan-Australia-India-U.S. Summit 2022 Meeting (Quad Summit) in Tokyo. The loan was co-financed with MUFG Bank, Ltd., The Hachijuni Bank, Ltd., and The Bank of Kyoto, Ltd. JBIC also provided a guarantee for the co-financed portion by the private financial institutions. This loan was to financially support, through EXIM-India, the Indian healthcare sector related to COVID-19 including vaccine manufacturers and pharmaceutical companies.
Ivanhoé Cambridge Inc and Lighthouse Canton Pte Ltd
Advised the clients on the secured term loan financing through special purpose vehicles in a pioneering investment in the life sciences cluster of Genome Valley in Hyderabad, India. Genome Valley is India’s premier master-planned life science R&D hub, which hosts the country's largest concentration of multi-tenanted lab space. Genome Valley provides a robust ecosystem for life sciences, offering shared infrastructure, technical collaborations, and access to a pool of world-class scientists. The initiative initially focuses on enhancing the portfolio through selective, value-enhancing acquisitions in pertinent life sciences R&D clusters across India. The portfolio currently houses over 20 leading international and domestic pharmaceutical and biotechnology companies, vaccine producers, and contract research organisations.
Publications
External Links
External Links
News and Events
Devidas Banerji has featured in the following news and webinars
