Cyril Amarchand Mangaldas acted as the lenders’ legal counsel

Cyril Amarchand Mangaldas acted as the lenders’ legal counsel in connection with financing facilities aggregating up to INR 550 Crores extended to the corporate debtor i.e., Rolta India Limited (Borrower), a company undergoing corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016.

A resolution plan was submitted by Ashdan Properties Private Limited and was approved by the committee of creditors of the Borrower, and subsequently by the National Company Law Tribunal, Mumbai Bench-I vide its order dated December 15, 2025.

The financing enabled the implementation of the approved resolution plan by facilitating part payment and discharging the Borrower’s creditors, in accordance with the terms of the resolution plan.

Notably, the financing was directly availed by the Borrower while undergoing CIRP. Pursuant to implementation of the resolution plan on 16^th January 2026 and completion of acquisition of 100% shareholding and management control, the Borrower is now owned by an entity jointly backed by a Welspun Group entity and Ashdan Properties Private Limited.

The transaction was led by Pururaj Bhar, Partner; with support from Sohrab Kharadi, Principal Associate; Ayush Chowdhury, Senior Associate; and Kriti Jain, Associate.

About CAM:

Cyril Amarchand Mangaldas (CAM) is India’s leading law firm with a global reputation of being trusted advisers to its clients. The Firm advises a large and diverse set of clients, including domestic and foreign commercial enterprises, financial institutions, private equity and venture capital funds, start-ups, government and regulatory bodies. The Firm’s generalists, specialists and senior ex-regulators expertly guide clients across a spectrum of transactions, sectors and regulations. With over 1100 lawyers including 220 Partners, the Firm is a full-service law firm with offices in key business centres at Mumbai, Delhi-NCR, Bengaluru, Ahmedabad, Hyderabad, Chennai, GIFT City, Singapore and Abu Dhabi.

The Firm has been named “Law Firm of the Year 2025” and consistently recognised as “Best Overall Law Firm” by the IBLJ Indian Law Firm Awards. It received “National Law Firm of the Year: India” at the IFLR Asia-Pacific Awards for the second consecutive year in 2023 and 2022 and “Innovation in Advancing Markets” award at the FT Innovative Lawyers Asia Pacific 2022 Awards. The Firm also won “India Deal Firm of the Year” at the ALB India Awards and “Firm of the Year” at the IFLR1000 India Awards in 2022.