We acted as legal counsel to State Bank of India in connection with term debt of INR 12,000 Crores extended to JSW Sambalpur Steel Limited, for the purpose of part-financing its purchase (structured as a slump sale on a ‘going concern’ basis) of the steel business undertaking of Bhushan Power & Steel Limited.
The transaction team was led by Arkoday Roy, Partner, with assistance from Abha Mehta, Principal Associate; Karn Taneja, Associate and Sanyam Agarwaal, Associate.
L. Viswanathan, Senior Partner and Amey Pathak, Partner (Head - Banking) provided strategic inputs and overall guidance.
About Cyril Amarchand Mangaldas:
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 1400 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.
Picture Source :